https://www.taxtmi.com/caselaws?id=311512 Securities Appellate Tribunal, Mumbai quashed WTM's ex-parte interim order directing appellant to deposit alleged illegal gains in escrow account and freeze banking transactions. Tribunal found no extreme urgency warranting ex-parte order, noting trades occurred in 2017 but proceedings initiated in February 2019 with order passed after 4-month delay. Court held that prima facie insider trading case alone insufficient without considering balance of convenience or irreparable injury. Since illegal gains not yet adjudicated and no evidence of asset disposal or obstruction, impugned order unsustainable. Appeal allowed with direction for appellant to provide Rs 2.6 crore fixed deposit as interim protection measure. en-us Mon, 07 Sep 2020 00:00:00 +0530 Sat, 30 Dec 2023 08:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311512 Securities Appellate Tribunal, Mumbai quashed WTM's ex-parte interim order directing appellant to deposit alleged illegal gains in escrow account and freeze banking transactions. Tribunal found no extreme urgency warranting ex-parte order, noting trades occurred in 2017 but proceedings initiated in February 2019 with order passed after 4-month delay. Court held that prima facie insider trading case alone insufficient without considering balance of convenience or irreparable injury. Since illegal gains not yet adjudicated and no evidence of asset disposal or obstruction, impugned order unsustainable. Appeal allowed with direction for appellant to provide Rs 2.6 crore fixed deposit as interim protection measure. Case-Laws SEBI Mon, 07 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311512