https://www.taxtmi.com/caselaws?id=197334 Control over the connected entities was upheld on the evidence of common operations, identical replies and trading instructions, but the allegation that trades in Lupin shares themselves created an artificial price rise and artificial volumes was not sustained. Repeated matching buy-sell orders, same-time and same-price placements, and rotation of shares without real change in beneficial ownership were treated cumulatively as circular, synchronised and fictitious trades amounting to market manipulation and financing transactions. The refusal to allow cross-examination did not vitiate the proceedings because no timely request was made. The debarment was found proportionate to the seriousness of the misconduct and was not reduced. en-us Fri, 14 Jul 2006 00:00:00 +0530 Thu, 14 Mar 2024 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197334 Control over the connected entities was upheld on the evidence of common operations, identical replies and trading instructions, but the allegation that trades in Lupin shares themselves created an artificial price rise and artificial volumes was not sustained. Repeated matching buy-sell orders, same-time and same-price placements, and rotation of shares without real change in beneficial ownership were treated cumulatively as circular, synchronised and fictitious trades amounting to market manipulation and financing transactions. The refusal to allow cross-examination did not vitiate the proceedings because no timely request was made. The debarment was found proportionate to the seriousness of the misconduct and was not reduced. Case-Laws Companies Law Fri, 14 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197334