https://www.taxtmi.com/caselaws?id=464716 Securities-market manipulation can be inferred from the cumulative trading pattern and surrounding circumstances on a preponderance of probabilities, even without direct proof of collusion. Here, the company and its directors were exonerated because the alleged fund linkage to the trading entity was not established and the record did not show that the funds were used for trading in the scrip. By contrast, the two noticees were found liable for fraudulent and unfair trade practices where repeated matched orders, deletion of unexecuted orders, structured quantities, and trading in a thin market created a misleading appearance of trading and supported an inference of manipulative intent, attracting penalty under the SEBI Act. en-us Thu, 28 Feb 2019 00:00:00 +0530 Mon, 10 Nov 2025 17:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464716 Securities-market manipulation can be inferred from the cumulative trading pattern and surrounding circumstances on a preponderance of probabilities, even without direct proof of collusion. Here, the company and its directors were exonerated because the alleged fund linkage to the trading entity was not established and the record did not show that the funds were used for trading in the scrip. By contrast, the two noticees were found liable for fraudulent and unfair trade practices where repeated matched orders, deletion of unexecuted orders, structured quantities, and trading in a thin market created a misleading appearance of trading and supported an inference of manipulative intent, attracting penalty under the SEBI Act. Case-Laws SEBI Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464716