https://www.taxtmi.com/caselaws?id=462081 SEBI found entities engaged in fraudulent trading practices through preferential allotment scheme to generate fictitious long-term capital gains. Related parties used preferential allotment instead of secondary market purchases to manipulate share prices and volumes of a company with minimal business operations. The scheme involved connected buyers and sellers trading among themselves to artificially inflate share prices from Rs. 9 to Rs. 23, potentially generating Rs. 177 crore in illegal gains. SEBI determined this constituted market manipulation violating PFUTP Regulations and SEBI Act provisions. The Board issued interim restraint orders preventing the entities from accessing securities markets pending investigation to protect investor interests and market integrity. en-us Fri, 19 Dec 2014 00:00:00 +0530 Wed, 21 May 2025 15:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462081 SEBI found entities engaged in fraudulent trading practices through preferential allotment scheme to generate fictitious long-term capital gains. Related parties used preferential allotment instead of secondary market purchases to manipulate share prices and volumes of a company with minimal business operations. The scheme involved connected buyers and sellers trading among themselves to artificially inflate share prices from Rs. 9 to Rs. 23, potentially generating Rs. 177 crore in illegal gains. SEBI determined this constituted market manipulation violating PFUTP Regulations and SEBI Act provisions. The Board issued interim restraint orders preventing the entities from accessing securities markets pending investigation to protect investor interests and market integrity. Case-Laws SEBI Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462081