https://www.taxtmi.com/caselaws?id=289102 The Tribunal allowed the appeal, setting aside the penalty imposed on the appellant under section 15HA of the Securities and Exchange Board of India Act. The judgment emphasized that the appellant's trading activity, although minor, did not demonstrate a violation of regulations. Without concrete evidence linking the appellant to market manipulation through synchronized trading, the penalty could not be upheld. The Tribunal clarified that synchronized trading is not inherently illegal and must involve a malicious intent among parties to be objectionable. As no connivance was proven, the impugned order was quashed without costs. en-us Thu, 10 Oct 2013 00:00:00 +0530 Wed, 15 Jul 2020 13:07:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289102 The Tribunal allowed the appeal, setting aside the penalty imposed on the appellant under section 15HA of the Securities and Exchange Board of India Act. The judgment emphasized that the appellant's trading activity, although minor, did not demonstrate a violation of regulations. Without concrete evidence linking the appellant to market manipulation through synchronized trading, the penalty could not be upheld. The Tribunal clarified that synchronized trading is not inherently illegal and must involve a malicious intent among parties to be objectionable. As no connivance was proven, the impugned order was quashed without costs. Case-Laws SEBI Thu, 10 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289102