https://www.taxtmi.com/caselaws?id=459910 SEBI restrained entities from securities market operations after finding prima facie evidence of fraudulent preferential share allotment scheme. The Board determined that allottees acting in concert with a company misused stock exchange systems to generate fictitious long-term capital gains, converting unaccounted income without tax payment. The manipulation artificially inflated share prices nine times above allotment price, violating market integrity. SEBI issued interim ex parte restraint orders pending investigation and referred the matter to Income Tax Department, Enforcement Directorate, and Financial Intelligence Unit for appropriate action. en-us Thu, 04 Dec 2014 00:00:00 +0530 Thu, 02 Jan 2025 15:43:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459910 SEBI restrained entities from securities market operations after finding prima facie evidence of fraudulent preferential share allotment scheme. The Board determined that allottees acting in concert with a company misused stock exchange systems to generate fictitious long-term capital gains, converting unaccounted income without tax payment. The manipulation artificially inflated share prices nine times above allotment price, violating market integrity. SEBI issued interim ex parte restraint orders pending investigation and referred the matter to Income Tax Department, Enforcement Directorate, and Financial Intelligence Unit for appropriate action. Case-Laws SEBI Thu, 04 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459910