https://www.taxtmi.com/caselaws?id=421279 SC allowed the appeals and set aside the WTM and SAT orders, holding that the regulator failed to prove foundational facts to raise the presumption of insider trading. SEBI did not establish that the appellants were connected persons or immediate relatives financially dependent on or consulting the alleged insider, nor adduced material showing communication of UPSI. SAT's decision was faulted for non-application of mind. The impugned orders are quashed and deposits made by the appellants under those orders or interim SC orders are ordered to be refunded. en-us Tue, 19 Apr 2022 00:00:00 +0530 Tue, 04 Nov 2025 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421279 SC allowed the appeals and set aside the WTM and SAT orders, holding that the regulator failed to prove foundational facts to raise the presumption of insider trading. SEBI did not establish that the appellants were connected persons or immediate relatives financially dependent on or consulting the alleged insider, nor adduced material showing communication of UPSI. SAT's decision was faulted for non-application of mind. The impugned orders are quashed and deposits made by the appellants under those orders or interim SC orders are ordered to be refunded. Case-Laws SEBI Tue, 19 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421279