https://www.taxtmi.com/caselaws?id=381766 Trade annulment under exchange bye-laws is an exceptional remedy available only where the trade is shown to be vitiated by fraud, wilful misrepresentation or material mistake. Here, market orders were placed to square off large client positions on the last trading day and in the closing minutes of a volatile options market. The surrounding facts, including multiple dealers, a supervisor, inconsistent explanations and the trading system's operation, did not establish a material mistake warranting annulment. The request for annulment was therefore rightly rejected, and the challenged trades were sustained. en-us Mon, 10 Jun 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:49:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381766 Trade annulment under exchange bye-laws is an exceptional remedy available only where the trade is shown to be vitiated by fraud, wilful misrepresentation or material mistake. Here, market orders were placed to square off large client positions on the last trading day and in the closing minutes of a volatile options market. The surrounding facts, including multiple dealers, a supervisor, inconsistent explanations and the trading system's operation, did not establish a material mistake warranting annulment. The request for annulment was therefore rightly rejected, and the challenged trades were sustained. Case-Laws SEBI Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381766