https://www.taxtmi.com/caselaws?id=376807 The Tribunal held that a reported statement by the Chairman of a Company expressing interest in acquiring another Company was not sufficient to invoke PFUTP Regulations, 2003. It was found that the statement did not impact the price and volumes of the target company's scrip significantly. The Tribunal ruled that there was insufficient evidence to penalize the appellant under section 15HA of SEBI Act for the alleged violation. The impugned order was quashed, and the appeal succeeded with no order on costs. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 16 Mar 2019 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376807 The Tribunal held that a reported statement by the Chairman of a Company expressing interest in acquiring another Company was not sufficient to invoke PFUTP Regulations, 2003. It was found that the statement did not impact the price and volumes of the target company's scrip significantly. The Tribunal ruled that there was insufficient evidence to penalize the appellant under section 15HA of SEBI Act for the alleged violation. The impugned order was quashed, and the appeal succeeded with no order on costs. Case-Laws SEBI Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376807