https://www.taxtmi.com/caselaws?id=240794 Synchronized trades are not per se illegal under the PFUTP and Broker Regulations; liability arises only where the trades are shown to be dubious, collusive, intended to manipulate the market, avoid detection, or create false volumes without real change in beneficial ownership. On the facts recorded, the order relied only on synchronized trades and did not identify counterparties, their connection with the appellant, or any direct or circumstantial material proving collusion or market manipulation. Mere matching of buy and sell orders within a short time gap at similar prices was insufficient. The penalty therefore could not be sustained and the impugned order was quashed. en-us Wed, 04 Sep 2013 00:00:00 +0530 Thu, 12 Dec 2013 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240794 Synchronized trades are not per se illegal under the PFUTP and Broker Regulations; liability arises only where the trades are shown to be dubious, collusive, intended to manipulate the market, avoid detection, or create false volumes without real change in beneficial ownership. On the facts recorded, the order relied only on synchronized trades and did not identify counterparties, their connection with the appellant, or any direct or circumstantial material proving collusion or market manipulation. Mere matching of buy and sell orders within a short time gap at similar prices was insufficient. The penalty therefore could not be sustained and the impugned order was quashed. Case-Laws Companies Law Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240794