https://www.taxtmi.com/caselaws?id=766889 Securities Appellate Tribunal at Mumbai dismissed appeal in insider trading case. Appellant No. 1, closely associated with Key Managerial Personnel of listed company, was handling licensing deal negotiations and trading accounts of senior executives. Appellant No. 2 was also connected person. Both appellants executed trades during Unpublished Price Sensitive Information period showing spike in trading activity. Tribunal held appellants were connected persons under PIT Regulations with access to UPSI. Trading behavior demonstrated preponderance of probability that trades were guided by insider information. Circumstantial evidence sufficient for insider trading cases. Order restraining market dealings and directing disgorgement with penalties upheld. en-us Mon, 20 Jan 2025 00:00:00 +0530 Thu, 06 Mar 2025 07:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766889 Securities Appellate Tribunal at Mumbai dismissed appeal in insider trading case. Appellant No. 1, closely associated with Key Managerial Personnel of listed company, was handling licensing deal negotiations and trading accounts of senior executives. Appellant No. 2 was also connected person. Both appellants executed trades during Unpublished Price Sensitive Information period showing spike in trading activity. Tribunal held appellants were connected persons under PIT Regulations with access to UPSI. Trading behavior demonstrated preponderance of probability that trades were guided by insider information. Circumstantial evidence sufficient for insider trading cases. Order restraining market dealings and directing disgorgement with penalties upheld. Case-Laws SEBI Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766889