Ten entities have been fined by the Indian capital markets regulator, Sebi, for engaging in non-genuine trades in the illiquid stock options segment on the BSE. These trades were observed to have led to artificial volumes on the exchange, which in turn violated regulatory norms. The ten entities penalized are among those who indulged in the reversal trades. Allied Financial Services Pvt Ltd, a registered member of the NSE and a depository participant of NSDL, has been cancelled
