SEBI bars 2 operators for illegally profiting in illiquid options, orders disgorgement of Rs 4.83 crore

SEBI bars 2 operators for illegally profiting in illiquid options, orders disgorgement of Rs 4.83 crore

As per the SEBI order, callers (employed by the operators) approached investors on the pretext of guaranteed profit through Algo trades or automated software trades.

SEBI bars 2 operators for cheating investors, orders them to return Rs 4.83 crore - tennews.in: National News Portal

New Delhi, June 21 (IANS) The Securities and Exchange Board of India (SEBI) has barred two operators — Shivprasad Pattiya and Alkesh Narware — for three years, alleging that they fraudulently created artificial volume in illiquid stocks options and cheated investors, and directed them to return Rs 4.83 crore (with 12 per cent from February […] The post SEBI bars 2 operators for cheating investors, orders them to return Rs 4.83 crore appeared fir…

SEBI Bars 2 Operators For Dishonest Traders, Orders Them To Return Rs 4.83 Crore

New Delhi: The Securities and Alternate Board of India (SEBI) has barred two operators — Shivprasad Pattiya and Alkesh Narware — for 3 years, alleging that they fraudulently created synthetic quantity in illiquid shares choices and cheated traders, and directed them to return Rs 4.83 crore (with 12 per cent from February 1, 2022) inside 45 days.  The capital markets regulator additionally imposed a penalty of Rs 25 lakh every on each operators u…