https://www.taxtmi.com/caselaws?id=196570 Market manipulation under regulations 4(a) and 4(d) was not proved where the open offer was disclosed in advance, transparently executed, and yielded no established artificial price effect or profit. The alleged routing of funds through group entities and the claimed broker bail-out were also not substantiated by reliable evidence showing that the company's own funds were used or that any manipulation nexus existed. The Tribunal held that serious allegations cannot rest on suspicion alone. The prohibition debarring the company from raising money from the public was held punitive rather than preventive or remedial, and therefore beyond section 11, section 11B and regulation 12(a). en-us Thu, 20 Jun 2002 00:00:00 +0530 Thu, 07 Dec 2017 16:11:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196570 Market manipulation under regulations 4(a) and 4(d) was not proved where the open offer was disclosed in advance, transparently executed, and yielded no established artificial price effect or profit. The alleged routing of funds through group entities and the claimed broker bail-out were also not substantiated by reliable evidence showing that the company's own funds were used or that any manipulation nexus existed. The Tribunal held that serious allegations cannot rest on suspicion alone. The prohibition debarring the company from raising money from the public was held punitive rather than preventive or remedial, and therefore beyond section 11, section 11B and regulation 12(a). Case-Laws Companies Law Thu, 20 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196570