https://www.taxtmi.com/caselaws?id=461258 SEBI confirmed directions against a company and associated entities for fraudulent trading activities. The company created a facade of preferential equity share allotment to provide fictitious long-term capital gains to allottees and promoter-related entities, converting unaccounted income into accounted income. SEBI found prima facie evidence of connivance between the company, promoters, directors, allottees, and related entities in implementing a dubious scheme that misused stock exchange mechanisms to artificially inflate share prices and volumes. This manipulation eroded market integrity and harmed investor interests. SEBI exercised powers under sections 19, 11(1), 11(4), and 11B of the SEBI Act to maintain the interim directions while investigation continues. en-us Tue, 05 Jul 2016 00:00:00 +0530 Mon, 24 Mar 2025 21:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461258 SEBI confirmed directions against a company and associated entities for fraudulent trading activities. The company created a facade of preferential equity share allotment to provide fictitious long-term capital gains to allottees and promoter-related entities, converting unaccounted income into accounted income. SEBI found prima facie evidence of connivance between the company, promoters, directors, allottees, and related entities in implementing a dubious scheme that misused stock exchange mechanisms to artificially inflate share prices and volumes. This manipulation eroded market integrity and harmed investor interests. SEBI exercised powers under sections 19, 11(1), 11(4), and 11B of the SEBI Act to maintain the interim directions while investigation continues. Case-Laws SEBI Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461258