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Mumbai, Dec 29 SEBI on Monday said that it had passed consent orders in two cases of alleged irregularities in dealing in futures and option contracts.

SEBI investigations revealed that Ashika Stock Broking Ltd and Raj Corporation bought and sold equal quantities of option contracts intra-day in synchronisation with others and thereby created false and misleading appearance of trading in the derivative market.

The two entities proposed settlement of the matter through a consent order, after the issue of the SEBI show-cause notice and further proceeding in the matter were in progress, said a SEBI order passed on December 22.

Ashika Stock Broking and Raj Corporation have paid Rs 5 lakh and Rs 7.5 lakh respectively on the recommendations of the high powered advisory committee appointed by the regulator, said SEBI.

More Stories on : Economic Offences | Derivatives Markets

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