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SEBI passed Consent order in a case against BP Equities alleged for Circular Trading

Market regulator SEBI today settled and passed a consent order in a case against B P Equities on payment of Rs 5 lakh for the company’s alleged failure to exercise due diligence in conducting business as a broker.

The case relates to allegations about B P Equities helping its clients to engage in circular trading.

SEBI, however, did not provide details regarding the clients.

“The Noticee (B P Equities) has remitted a sum of Rs 5 lakh… this consent order disposes of the said proceedings…,” the Securities and Exchange Board of India (SEBI) said while passing the consent order.

In a consent order, the company or person pays the settlement fee without denying or admitting the guilt.

SEBI had last year decided to look into the alleged violations.

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