https://www.taxtmi.com/caselaws?id=311139 Securities Appellate Tribunal, Mumbai dismissed appeal challenging SEBI order for fraudulent trading practices. Appellants cornered 62%/93% of market-wide position limits in derivative contracts through manipulative scheme, violating SEBI Act and PFUTP Regulations. Tribunal upheld disgorgement of Rs. 447.27 crore with 12% interest from November 2007, ruling disgorgement is equitable remedy, not penalty. Appellants prohibited from equity derivatives trading for one year. Payment directed within 60 days to SEBI's Investor Protection Fund. en-us Thu, 05 Nov 2020 00:00:00 +0530 Sat, 09 Dec 2023 20:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311139 Securities Appellate Tribunal, Mumbai dismissed appeal challenging SEBI order for fraudulent trading practices. Appellants cornered 62%/93% of market-wide position limits in derivative contracts through manipulative scheme, violating SEBI Act and PFUTP Regulations. Tribunal upheld disgorgement of Rs. 447.27 crore with 12% interest from November 2007, ruling disgorgement is equitable remedy, not penalty. Appellants prohibited from equity derivatives trading for one year. Payment directed within 60 days to SEBI's Investor Protection Fund. Case-Laws SEBI Thu, 05 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311139