https://www.taxtmi.com/caselaws?id=198928 A regulatory order cancelling broker registrations was challenged on limitation, statutory power, proof of manipulation, and proportionality of penalty. The limitation objection under the thirty-day rule failed because the proceedings were conducted as a composite adjudication on alleged concerted conduct, so the order was not time-barred entity-wise. Regulation 13 was held to confer power to suspend or cancel registration, subject to procedure and proportionality. The main market-manipulation allegation failed for lack of convincing evidence of artificial price depression and manipulative intent, but short sales after the ban, synchronised trades, and certain time-slot sales were proved against some entities. Cancellation was therefore replaced by lesser suspensions, and one cancellation was set aside. en-us Fri, 31 Oct 2003 00:00:00 +0530 Tue, 13 Feb 2018 13:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198928 A regulatory order cancelling broker registrations was challenged on limitation, statutory power, proof of manipulation, and proportionality of penalty. The limitation objection under the thirty-day rule failed because the proceedings were conducted as a composite adjudication on alleged concerted conduct, so the order was not time-barred entity-wise. Regulation 13 was held to confer power to suspend or cancel registration, subject to procedure and proportionality. The main market-manipulation allegation failed for lack of convincing evidence of artificial price depression and manipulative intent, but short sales after the ban, synchronised trades, and certain time-slot sales were proved against some entities. Cancellation was therefore replaced by lesser suspensions, and one cancellation was set aside. Case-Laws Companies Law Fri, 31 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198928