India, Nov. 15 -- Capital markets regulator Sebi on Thursday levied a penalty of over Rs 13.5 lakh on Anand Mining Corporation for indulging in fraudulent trading in the illiquid stock options segment on the BSE.
The markets regulator conducted a probe in the stock options segment from April 2014 to September 2015 after it observed large scale reversal of trades that led to creation of artificial volume.
Sebi noted that Anand Mining Corporation was one of the several entities which indulged in execution of non-genuine trades by executing reversal trades in the stock options segment.
Reversal trades are those trades in which an entity reverses its buy or sell positions in a contract with subsequent sell or buy position with the same count...