https://www.taxtmi.com/caselaws?id=301904 The appellant was found to have abused the IPO allotment process by cornering shares reserved for retail investors through fictitious applications. The appellant violated SEBI regulations and made unlawful gains by manipulating the market. As a result, the appellant was directed to disgorge profits, barred from the securities market for three years, and imposed a monetary penalty of Rs. 55 lacs. The appeals were dismissed, upholding the penalties imposed on the appellant for fraudulent conduct. en-us Mon, 07 Sep 2009 00:00:00 +0530 Tue, 26 Apr 2022 15:31:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301904 The appellant was found to have abused the IPO allotment process by cornering shares reserved for retail investors through fictitious applications. The appellant violated SEBI regulations and made unlawful gains by manipulating the market. As a result, the appellant was directed to disgorge profits, barred from the securities market for three years, and imposed a monetary penalty of Rs. 55 lacs. The appeals were dismissed, upholding the penalties imposed on the appellant for fraudulent conduct. Case-Laws SEBI Mon, 07 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301904