https://www.taxtmi.com/caselaws?id=757641 SEBI imposed a three-year market ban on the noticee for fraudulent securities trading through layered overseas transactions. The noticee used FII route to trade in group company shares while concealing his identity through front entities and overseas bank accounts. SEBI found violations of PFUTP Regulations and SEBI Act for manipulative trading in Herbertsons and USL shares, misrepresenting shareholding patterns by showing promoter holdings as non-promoter FII investments. The order prohibits securities market access and association with listed companies for three years, with existing holdings frozen. en-us Fri, 26 Jul 2024 00:00:00 +0530 Wed, 28 Aug 2024 11:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757641 SEBI imposed a three-year market ban on the noticee for fraudulent securities trading through layered overseas transactions. The noticee used FII route to trade in group company shares while concealing his identity through front entities and overseas bank accounts. SEBI found violations of PFUTP Regulations and SEBI Act for manipulative trading in Herbertsons and USL shares, misrepresenting shareholding patterns by showing promoter holdings as non-promoter FII investments. The order prohibits securities market access and association with listed companies for three years, with existing holdings frozen. Case-Laws SEBI Fri, 26 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757641