https://www.taxtmi.com/caselaws?id=777044 Advance sharing of stock recommendations before public broadcast can constitute non-public information and a fraudulent or unfair trade practice where the evidence shows trades were placed ahead of dissemination and unlawful gains followed. On the facts, the material against Himanshu Gupta was found largely circumstantial, with no reliable proof of advance communication, profit sharing, or kickbacks, so no direction or penalty was warranted. By contrast, the coordinated trading by the other noticees was held to fall within the prohibition on market abuse on a preponderance of probabilities, and debarment with monetary penalties was imposed, subject to mitigation in quantification. en-us Mon, 28 Jul 2025 00:00:00 +0530 Sat, 23 Aug 2025 08:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777044 Advance sharing of stock recommendations before public broadcast can constitute non-public information and a fraudulent or unfair trade practice where the evidence shows trades were placed ahead of dissemination and unlawful gains followed. On the facts, the material against Himanshu Gupta was found largely circumstantial, with no reliable proof of advance communication, profit sharing, or kickbacks, so no direction or penalty was warranted. By contrast, the coordinated trading by the other noticees was held to fall within the prohibition on market abuse on a preponderance of probabilities, and debarment with monetary penalties was imposed, subject to mitigation in quantification. Case-Laws SEBI Mon, 28 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777044