https://www.taxtmi.com/caselaws?id=456811 The Securities Appellate Tribunal, Mumbai dismissed appeals against SEBI's order regarding price manipulation in shares. Appellants received shares through off-market transfers at prices below Last Traded Price from one entity, then sold minimal quantities on exchange platform at higher prices despite pending large buy orders. This created misleading trading appearance in an illiquid stock that had been suspended for six years. The appellants contributed 70.96% of total trades during investigation period, causing price to rise from Rs. 17.50 to Rs. 427.85 without matching company fundamentals. Tribunal found transactions non-genuine and manipulative based on preponderance of probabilities, dismissing appeals without costs. en-us Tue, 16 Feb 2021 00:00:00 +0530 Fri, 16 Aug 2024 11:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456811 The Securities Appellate Tribunal, Mumbai dismissed appeals against SEBI's order regarding price manipulation in shares. Appellants received shares through off-market transfers at prices below Last Traded Price from one entity, then sold minimal quantities on exchange platform at higher prices despite pending large buy orders. This created misleading trading appearance in an illiquid stock that had been suspended for six years. The appellants contributed 70.96% of total trades during investigation period, causing price to rise from Rs. 17.50 to Rs. 427.85 without matching company fundamentals. Tribunal found transactions non-genuine and manipulative based on preponderance of probabilities, dismissing appeals without costs. Case-Laws SEBI Tue, 16 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456811