17
Tuesday
September 2019
10:28 AM IST
News Headlines
Pakistan recall Umar Akmal, Ahmed Shehzad for uncertain Lanka series        Kohli holds on to 2nd spot as Smith retains number one position in ICC Test Rankings        Steve Smith 'proud' after summer of Ashes redemption        Some 46,000 General Motors auto workers strike in US        Sensex cracks nearly 300 pts; oil and gas stocks tank        Trump to join Modi in Houston to address 50K Indian-Americans, says White House        Car bomb kills 11 civilians in northern Syria: monitor        PM to visit Narmada dam on b'day to mark highest water level feat        Bribery case: CBI inspector surrenders before ACB        Centre should release funds for MP flood relief: Scindia        Cong, NCP to contest 125 seats each in Assembly polls: Pawar        21 Indians killed in 2,050 ceasefire violations by Pak this year: MEA        Government to rebuild Palarivattom flyover        CM demands PSC questions in Malayalam        Sourabh wins Vietnam Open Super 100 title        England close in on Ashes-levelling win after Broad double        Air India posts Rs 4,600 cr operating loss in 2018-19; aims operating profit this fiscal        SBI to move RBI to offer fixed-floating rate home-loans: Chairman        Hong Kong returns to violence with tear gas and Molotovs        36 people missing after boat sinks in Congo river: DRC police        
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Business News
Sebi slaps Rs 65 lakh fine on individual for fraudulent trading
 
New Delhi: Markets regulator Sebi Wednesday slapped a fine of Rs 65 lakh on an individual for indulging in fraudulent trading in the illiquid stock options segment at BSE.

The order follows a probe conducted by Sebi between April 2014 and September 2015 after it observed that 81.38 per cent of all the trades executed in stock options segment of the bourse were non-genuine trades.

The regulator noted that the individual, Deepakkumar Subhaschandra Mehta, was one of the various entities which indulged in execution of non-reversal trades in the segment.

Reversal trades are those trades in which an entity reverses its buy or sell positions in a contract with subsequent sell or buy positions with the same counterparty during the same day.

The reversal trades were "non genuine trades as they were not executed in normal course of trading, lack basic trading rationale, and allegedly lead to false or misleading appearance of trading in terms of generation of artificial volume, hence were deceptive and manipulative," Sebi said.

The fraudulent and unfair trade practices of Mehta are in violation of PFUTP (Prohibition of Fraudulent and Unfair Trading Practices) norms.

Accordingly, a penalty of Rs 65 lakh has been levied on Deepakkumar Subhaschandra Mehta.


Some 46,000 General Motors auto workers strike in US
Sensex cracks nearly 300 pts; oil and gas stocks tank
Air India posts Rs 4,600 cr operating loss in 2018-19; aims operating profit this fiscal
SBI to move RBI to offer fixed-floating rate home-loans: Chairman
Inflation under control, clear signs of revival in factory output: FM
China to lift punitive tariffs on US soybeans, pork
Exports decline 6 pc; imports dip 13.45 pc
Retail inflation inches up to 10-month high of 3.21 pc in August
India & Qatar to focus on hydrocarbon sector: Pradhan
Samruddhi Corridor: MSRDC ties up loans of Rs 28,000 crore
Just 19 pc employers in India bullish on hiring in Oct-Dec qtr: Survey
Alibaba's Ma steps down as industry faces uncertainty
Ahead of festivals, SBI again cuts lending rates by 10 bps
Sensex drops over 150 pts; bank, auto stocks drag
15th Finance Commission holds meeting with Raj bodies, industry
PNB puts up for sale 11 NPA accounts to recover dues of Rs 1,234 cr
States to be key drivers of growth for making India USD 5 trillion economy: Niti CEO
FinMin sets up task force to identify infra projects for Rs 100 lakh cr investment
To create jobs, C'garh govt reduces land rates for industries
India's domestic market for computer services to grow faster than exports: UN report
KERALA NEWS
Government to rebuild Palarivattom flyover
 Thiruvananthapuram: The state government has decided to demolish and rebuild Palarivattom flyover as  
CM demands PSC questions in Malayalam
Tipplers guzzle Rs 487 crore worth liqour during onam
candidate selection for Pala by-election is an internal matter of KC(M): Chandy
INTERNATIONAL NEWS
Trump to join Modi in Houston to address 50K Indian-Americans, says White House
 Washington: US President Donald Trump will join Prime Minister Narendra Modi at Houston's mega "Howd
Car bomb kills 11 civilians in northern Syria: monitor
Hong Kong returns to violence with tear gas and Molotovs
36 people missing after boat sinks in Congo river: DRC police
NATIONAL NEWS
PM to visit Narmada dam on b'day to mark highest water level feat
 Ahmedabad: Prime Minister Narendra Modi, who turns 69 on Tuesday, will visit the site of the Gujarat
Bribery case: CBI inspector surrenders before ACB
Centre should release funds for MP flood relief: Scindia
21 Indians killed in 2,050 ceasefire violations by Pak this year: MEA
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