https://www.taxtmi.com/caselaws?id=261296 The Tribunal upheld the penalty imposed under the SEBI Act for violating PFUTP Regulations but modified it to &8377; 10 lakh for each appellant, totaling &8377; 20 lakh. The appellants engaged in manipulative trading practices, including self-trades and synchronized trading, creating artificial market signals. Despite procedural non-compliance, the penalty was reduced due to the appellants' limited control over other group members' trading accounts. The judgment emphasized the importance of fairness in penalty imposition and set a two-month deadline for payment, allowing for recovery actions if not met. en-us Fri, 24 Jan 2014 00:00:00 +0530 Sat, 02 Jan 2016 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261296 The Tribunal upheld the penalty imposed under the SEBI Act for violating PFUTP Regulations but modified it to &8377; 10 lakh for each appellant, totaling &8377; 20 lakh. The appellants engaged in manipulative trading practices, including self-trades and synchronized trading, creating artificial market signals. Despite procedural non-compliance, the penalty was reduced due to the appellants' limited control over other group members' trading accounts. The judgment emphasized the importance of fairness in penalty imposition and set a two-month deadline for payment, allowing for recovery actions if not met. Case-Laws Companies Law Fri, 24 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261296