https://www.taxtmi.com/caselaws?id=300026 Market manipulation under the PFUTP Regulations cannot be inferred merely because some trades were placed above the last traded price. Where the scrip was illiquid, the trades were few, delivery based, and executed in the market, the record had to show concrete evidence of a manipulative scheme, circular trading, self-trading, or other reliable proof of false market creation. On that material, the allegation of fraudulent and unfair trade practice was not established. Because the alleged breach of the sub-broker Code of Conduct was wholly derivative of the manipulation charge, that allegation also failed and the penalties could not survive. en-us Fri, 13 Sep 2013 00:00:00 +0530 Mon, 10 Jan 2022 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300026 Market manipulation under the PFUTP Regulations cannot be inferred merely because some trades were placed above the last traded price. Where the scrip was illiquid, the trades were few, delivery based, and executed in the market, the record had to show concrete evidence of a manipulative scheme, circular trading, self-trading, or other reliable proof of false market creation. On that material, the allegation of fraudulent and unfair trade practice was not established. Because the alleged breach of the sub-broker Code of Conduct was wholly derivative of the manipulation charge, that allegation also failed and the penalties could not survive. Case-Laws SEBI Fri, 13 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300026