{"id":218631,"date":"2019-08-26T17:00:12","date_gmt":"2019-08-26T11:30:12","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=218631"},"modified":"2019-09-06T13:56:29","modified_gmt":"2019-09-06T08:26:29","slug":"sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","title":{"rendered":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE"},"content":{"rendered":"

Securities Appellate Tribunal (SAT):<\/strong>\u00a0A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C.K.G. Nair (Member), upheld the order passed by the Adjudicating Officer which imposed a penalty on the appellant for violation of SEBI regulations.<\/p>\n

SEBI, in this case, observed a large scale reversal of trade in Stock Options segment of BSE Ltd., leading to the creation of artificial volume. On investigation, it was found that trades executed in Stock Options segment of BSE were non-genuine trades creating artificial volume to the tune of 826.21 crore units or 54.68% of the total market volume in Stock Options segment of BSE and this was done in illiquid Stock Options. The appellant was one of the various entities which indulged in this. A show-cause notice was issued indicating that the appellant had indulged in reversal trades which were non-genuine and creating a false and misleading appearance of trading in terms of artificial volumes in Stock Options and, therefore, were manipulative and deceptive in nature, thus, violating the provision of Regulations 3 and 4 of the PFUTP Regulations. The Adjudicating Officer for this case imposed a penalty of Rs 5,50,000 for violation of the said Regulations on the appellant.<\/p>\n

The appellant contended that he did not execute any trade and did not give any authority to the stockbroker to execute any trades on behalf of the appellant and contended that at the time of submission of the reply before the AO a specific relief was prayed that the authority should summon the stockbroker and question him as to how he had executed the trades.<\/p>\n

The Tribunal was of the consideration that although the appellant claimed to have made this submission before the AO, he did not contend the same before the Tribunal. In fact, the stand taken by the appellant before the AO was that he was trapped by R.K. Stockholding Pvt. Ltd. who was their stockbroker and who gave a rosy picture of high volatility with high rate of return in securities market and succeeded to gain confidence of the appellant by opening a trading account after signing the account opening booklet the trades were performed in the account of the appellant under supervision of the stockbroker. Thus, it is clear that the appellant was doing trades which amounted to a violation of Regulations 3 and 4 of the PFUTP Regulations. In light of the same, the order passed by the AO was upheld.[Basic Clothing Pvt. Ltd. v. Securities and Exchange Board of India, 2019 SCC OnLine SAT 150<\/a>,<\/b> decided on 21-08-2019]<\/p>\n","protected":false},"excerpt":{"rendered":"

Securities Appellate Tribunal (SAT):\u00a0A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C.K.G. Nair (Member), upheld the order passed by <\/p>\n","protected":false},"author":8808,"featured_media":209781,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[37253,37254,2627,37255],"class_list":["post-218631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-fake-trades-and-creating-artificial-volume","tag-illiquid-stock-options","tag-Penalty","tag-violation-of-sebi-regulations"],"yoast_head":"\nSAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE\" \/>\n<meta property=\"og:description\" content=\"Securities Appellate Tribunal (SAT):\u00a0A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C.K.G. Nair (Member), upheld the order passed by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-26T11:30:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-06T08:26:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/\",\"name\":\"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"datePublished\":\"2019-08-26T11:30:12+00:00\",\"dateModified\":\"2019-09-06T08:26:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","og_locale":"en_US","og_type":"article","og_title":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE","og_description":"Securities Appellate Tribunal (SAT):\u00a0A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C.K.G. Nair (Member), upheld the order passed by","og_url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2019-08-26T11:30:12+00:00","article_modified_time":"2019-09-06T08:26:29+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","name":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","datePublished":"2019-08-26T11:30:12+00:00","dateModified":"2019-09-06T08:26:29+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":252159,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/03\/sebi-3\/","url_meta":{"origin":218631,"position":0},"title":"SEBI | Deliberate act of creating fictitious volumes distorting market equilibrium suffers a monetary penalty even in the absence of disproportionate gains","author":"Editor","date":"August 3, 2021","format":false,"excerpt":"Securities and Exchange Board of India (SEBI): Maninder Cheema, Adjudicating Officer, while affirming the violations under Regulation 3 (a), (b), (c), (d) and 4 (1) and 4(2)(a) of PFUTP Regulations, imposed a monetary penalty of \u00a0Rupees Five Lakh, under Section 15-I of SEBI Act. In the instant case, it was\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":245918,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/22\/stock-exchange\/","url_meta":{"origin":218631,"position":1},"title":"SAT | Separate penalties by the stock exchanges can be imposed | While positing, rejects appeal","author":"Editor","date":"March 22, 2021","format":false,"excerpt":"Securities Appellate Tribunal (SAT): A Coram of Tarun Agarwala, J., (Presiding Officer) and M.T. Joshi, J., (Judicial Member) while dismissing an appeal held that separate penalties by the stock exchanges could be imposed. In the present matter, BSE and NSE separately imposed a penalty of Rs 12 lakh for violation\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":217946,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","url_meta":{"origin":218631,"position":2},"title":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication","author":"Bhumika Indulia","date":"August 12, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT), Mumbai:\u00a0Coram of Justice Tarun Agarwala, (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi, (Judicial Member) directed an Adjudicating Officer to look into a matter afresh since BSE waived off the penalty imposed by them on the appellants. The appellant, in this case, failed to\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":255417,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/11\/calibrated-efforts-cancelling-out-the-chance-of-coincidence-of-matching-trades-in-illiquid-scrip-does-not-go-scot-free\/","url_meta":{"origin":218631,"position":3},"title":"SEBI | Calibrated efforts cancelling out the chance of coincidence of matching trades in illiquid scrip does not go scot free-Restricted from the market for manipulation","author":"Editor","date":"October 11, 2021","format":false,"excerpt":"Securities and Exchange Board of India (SEBI)-Madhabi Puri Buch, Whole Time Member, while exercising powers under Section 19 read with Sections 11(1), 11(4) and 11B (1) and 11B(2) of the Securities and Exchange Board of India Act, 1992 restricted the Noticees involved in manipulation of the scrip. In the present\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":218502,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/22\/sat-fine-imposed-on-appellant-for-non-compliance-of-regulation-33-of-sebi-reduced-on-account-of-this-mistake-being-a-technical-defect\/","url_meta":{"origin":218631,"position":4},"title":"SAT | Fine imposed on appellant for non-compliance of Regulation 33 of SEBI reduced on account of this mistake being a technical defect","author":"Bhumika Indulia","date":"August 22, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT): Coram of Justice Tarun Agarwala (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi (Judicial Member) held the appellants responsible for non-compliance of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The imposed a fine of Rs 5,54,600 on the appellants for\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":255636,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/15\/does-the-doctrine-of-double-jeopardy-apply-to-defaults-under-sebi-lodr-regulations\/","url_meta":{"origin":218631,"position":5},"title":"Does the doctrine of Double Jeopardy apply to defaults under SEBI (LODR) Regulations?","author":"Editor","date":"October 15, 2021","format":false,"excerpt":"By Abhishek Kale* and Darshan Furia**","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-52.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-52.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-52.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-52.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-52.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/218631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=218631"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/218631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209781"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=218631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=218631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=218631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}