TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of AT set aside SEBI's order holding the appellant guilty of insider trading in the shares of GGL. It held that the alleged 'high probability of detection of fraud' on retirement of a PNB officer did not constitute UPSI under the PIT Regulations, as mere probability of future detection is neither concrete nor credible information. AT further held that the appellant's limited business dealings and minority shareholding did not render him a 'connected person' or 'insider', there being no reasonable expectation of access to UPSI and no evidence of communication of UPSI from Noticee No.1. Trading was found consistent with market behaviour and price movements, not guided by UPSI. Consequently, allegations of violation of Sections 12A(d), 12A(e) of the SEBI Act and Regulation 4(1) of the PIT Regulations failed and the appeal was allowed.
TaxTMI 
TaxTMI 
