Monday, 23 June 2014

SAT upheld penalty on appellant as he was manipulating price of Cos. through off market trade

CL : Where appellant manipulated price of a particular scrip by entering into off market transactions and carrying out large number of reverse trades which were fictitious in nature, it violated provisions of regulation 4(1) and 4(2)(e) of PFUTP Regulations, 2003 and, thus, penalty order passed by authorities below was to be confirmed


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