New Delhi: Market watchdog Sebi has slapped a total penalty of Rs 30 lakh on four entities for executing "non-genuine" trades in illiquid stock options segment of the BSE.In four separate orders, the regulator imposed a fine of Rs 15 lakh on Umesh Hemnani, Rs 5 lakh each on Pumarth Infrastructure Pvt Ltd, Jaya Sarda and Kishan Kumar Jajodia.The penalty is in line with Sebi's announcement made in April 2018, wherein it had declared to take action in a phased manner against 14,720 entities for fraudulent trade in illiquid stock options segment and has passed several orders in past against such entities.For the case, the regulator conducted an investigation into the trading activities of certain entities in illiquid stock options on the BSE from April 2014 to September 2015.During the probe, Sebi observed that the entities in a synchronised manner placed buy and sell order within short span of time and reversed trades within a few seconds at a substantial price difference.The trades executed by the entities were not genuine and created an appearance of artificial trading volumes, such acts are in violation of Sebi's PFUTP (Prohibition of Fraudulent and Unfair Trades Practices) provisions, the regulator said and hence the penalty was imposed.In a separate order, Sebi fined promoter Abhijeet Dwarkadas Daga Rs 6 lakh for failing to disclose the change in his shareholding in Timbhor Home Ltd to exchanges and the company.