https://www.taxtmi.com/caselaws?id=781065 The SAT held that the appellants' pattern of placing substantial buy orders above the LTP constituted price manipulation and creation of non-genuine half-permitted (NHP) trades, breaching Regulations 3 and 4 of the PFUTP Regulations. The Tribunal found no plausible explanation, noted significant contribution to market NHP, and rejected the remand enhancement of penalty for lack of new facts or reasoning. Upholding violation, the SAT reduced penalties to Rs.5 lakh and Rs.7.5 lakh respectively under Section 15HA of the SEBI Act. en-us Mon, 15 Sep 2025 00:00:00 +0530 Mon, 10 Nov 2025 16:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781065 The SAT held that the appellants' pattern of placing substantial buy orders above the LTP constituted price manipulation and creation of non-genuine half-permitted (NHP) trades, breaching Regulations 3 and 4 of the PFUTP Regulations. The Tribunal found no plausible explanation, noted significant contribution to market NHP, and rejected the remand enhancement of penalty for lack of new facts or reasoning. Upholding violation, the SAT reduced penalties to Rs.5 lakh and Rs.7.5 lakh respectively under Section 15HA of the SEBI Act. Case-Laws SEBI Mon, 15 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781065