https://www.taxtmi.com/caselaws?id=221116 The Tribunal set aside the penalty imposed by the Securities and Exchange Board of India on traders for violating regulations 3 and 4 of the FUTP Regulations. The traders were found to have engaged in "front running," but as traders and not intermediaries, they were not held guilty of the violation. The Tribunal clarified that the FUTP Regulations prohibited front running only by intermediaries, not traders, based on the case of Dipak Patel. The appeal was allowed with no order as to costs. en-us Mon, 17 Dec 2012 00:00:00 +0530 Sat, 02 Jan 2016 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221116 The Tribunal set aside the penalty imposed by the Securities and Exchange Board of India on traders for violating regulations 3 and 4 of the FUTP Regulations. The traders were found to have engaged in "front running," but as traders and not intermediaries, they were not held guilty of the violation. The Tribunal clarified that the FUTP Regulations prohibited front running only by intermediaries, not traders, based on the case of Dipak Patel. The appeal was allowed with no order as to costs. Case-Laws Companies Law Mon, 17 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221116