https://www.taxtmi.com/caselaws?id=196694 A director who signed delivery instruction slips and did not effectively deny involvement was held liable for a company's circular trades and market manipulation through shell and front entities that created artificial volumes and a false market. The tribunal accepted that the appellant's plea of ignorance was not credible on the record and upheld the finding of guilt and the restraint order. It also held that the debarment period was reasonable, noting the wider manipulation scheme and the appellant's role in a front entity, and refused reduction of the penalty. en-us Wed, 17 Dec 2008 00:00:00 +0530 Thu, 01 Mar 2018 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196694 A director who signed delivery instruction slips and did not effectively deny involvement was held liable for a company's circular trades and market manipulation through shell and front entities that created artificial volumes and a false market. The tribunal accepted that the appellant's plea of ignorance was not credible on the record and upheld the finding of guilt and the restraint order. It also held that the debarment period was reasonable, noting the wider manipulation scheme and the appellant's role in a front entity, and refused reduction of the penalty. Case-Laws Companies Law Wed, 17 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196694