https://www.taxtmi.com/caselaws?id=461243 SEBI confirmed interim order against 178 entities including preferential allottees and promoter-related entities for fraudulent trade practices involving Pine Animation Limited. The scheme created fictitious Long Term Capital Gains through artificial preferential share allotments and price manipulation. Exit providers purchased shares at inflated prices under pre-arranged agreements, enabling unlawful gains of approximately Rs. 4.25 crores. SEBI found prima facie evidence of concert party arrangements undermining market integrity. One independent director was exempted due to appointment after the manipulation period. The market access ban and trading prohibition against 26 confirmed entities remains effective pending further investigation. en-us Fri, 02 Jun 2017 00:00:00 +0530 Mon, 24 Mar 2025 18:29:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461243 SEBI confirmed interim order against 178 entities including preferential allottees and promoter-related entities for fraudulent trade practices involving Pine Animation Limited. The scheme created fictitious Long Term Capital Gains through artificial preferential share allotments and price manipulation. Exit providers purchased shares at inflated prices under pre-arranged agreements, enabling unlawful gains of approximately Rs. 4.25 crores. SEBI found prima facie evidence of concert party arrangements undermining market integrity. One independent director was exempted due to appointment after the manipulation period. The market access ban and trading prohibition against 26 confirmed entities remains effective pending further investigation. Case-Laws SEBI Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461243