Adjudication order in respect of Badami Devi Khandelwal in the matter of Dealing in Ill-iquid Stock Options at BSE

Last updated: 22 September 2020
Quick Summary
This adjudication order concerns Badami Devi Khandelwal, who faced allegations of violating SEBI's PFUTP Regulations by engaging in non-genuine reversal of trades in illiquid stock options on the BSE. The Securities and Exchange Board of India (SEBI) initiated proceedings against her. However, it was informed that Ms. Khandelwal had passed away before the proceedings could be concluded on merit. Following legal precedent, the Adjudicating Officer determined that the personal nature of the proceedings meant they abated upon her death, and therefore, no penalty was imposed.

Court :
SEBI

Brief :
ORDER UNDER SECTION 15-I OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992, READ WITH RULE 5 OF THE SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

Citation :
ADJUDICATION ORDER NO.: ORDER/VV/NK/ 2020-21/9092

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