https://www.taxtmi.com/caselaws?id=445176 Securities Appellate Tribunal Mumbai allowed the appeal, overturning SEBI's order that had restrained appellant from securities market for four years. The tribunal found that allegations of share manipulation through disguised trading and SMS-based transactions were not supported by evidence. Key findings included that appellant did not trade from another person's account as alleged, no manipulative trades occurred pursuant to SMS, and the disgorgement order was improper. The tribunal remanded the matter to examine whether parties individually triggered open offer requirements under SAST Regulations, directing fresh consideration of penalties if applicable. en-us Mon, 30 Oct 2023 00:00:00 +0530 Thu, 02 Nov 2023 08:29:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445176 Securities Appellate Tribunal Mumbai allowed the appeal, overturning SEBI's order that had restrained appellant from securities market for four years. The tribunal found that allegations of share manipulation through disguised trading and SMS-based transactions were not supported by evidence. Key findings included that appellant did not trade from another person's account as alleged, no manipulative trades occurred pursuant to SMS, and the disgorgement order was improper. The tribunal remanded the matter to examine whether parties individually triggered open offer requirements under SAST Regulations, directing fresh consideration of penalties if applicable. Case-Laws SEBI Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445176