https://www.taxtmi.com/caselaws?id=464558 The AT set aside the penalty, holding that a single trade by the appellant did not establish circular or synchronized trading or a misleading appearance of market activity under Section 12A read with Regulations 3 and 4 of the PFUTP Regulations. Finding no connection or meeting of minds with other entities, the tribunal concluded the appellant was not involved in manipulation and quashed the impugned order. The appeal was allowed for the appellant and the respondent was directed to refund the amount. en-us Tue, 10 Oct 2023 00:00:00 +0530 Wed, 05 Nov 2025 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464558 The AT set aside the penalty, holding that a single trade by the appellant did not establish circular or synchronized trading or a misleading appearance of market activity under Section 12A read with Regulations 3 and 4 of the PFUTP Regulations. Finding no connection or meeting of minds with other entities, the tribunal concluded the appellant was not involved in manipulation and quashed the impugned order. The appeal was allowed for the appellant and the respondent was directed to refund the amount. Case-Laws SEBI Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464558