10,980 entities avail Sebi's scheme to settle alleged manipulation cases

A total of 10,980 entities settled the cases pertaining to alleged manipulation of illiquid stock options at BSE with Sebi under the settlement scheme 2022, the markets regulator said on Friday.

Sebi introduced the settlement scheme 2022 to provide a one-time opportunity to the entities against whom proceedings were initiated, and appeals against the proceedings are pending before any forum or authority.

This came after the Securities Appellate Tribunal (SAT) passed an order in May 2022 on the matter of illiquid stock options.

The scheme was initially kept open for a period of three months from August 22 to November 21 and it was later extended till January 21, 2023, considering the interest of a large number of entities to avail the scheme.

"A total of 10,980 entities availed the benefit of the scheme and remitted the specified settlement amount respectively," the Securities and Exchange Board of India (Sebi) said.

While most of the entities paid either Rs 1 lakh or Rs 2 lakh as