https://www.taxtmi.com/caselaws?id=781220 AT found that the trading member's reversal trades with its promoters were not denied and required further testing, but prima facie indicated circular trading impacting about 90% of market volume. While noting prior penalties, the Tribunal held the imposition of penalty unsustainable at interim stage and granted stay of recovery subject to conditions. Recovery is stayed provided the appellant deposits 50% of the penalty with the exchange within four weeks; the exchange must place the deposit in an interest-bearing account. en-us Thu, 09 Oct 2025 00:00:00 +0530 Thu, 13 Nov 2025 08:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781220 AT found that the trading member's reversal trades with its promoters were not denied and required further testing, but prima facie indicated circular trading impacting about 90% of market volume. While noting prior penalties, the Tribunal held the imposition of penalty unsustainable at interim stage and granted stay of recovery subject to conditions. Recovery is stayed provided the appellant deposits 50% of the penalty with the exchange within four weeks; the exchange must place the deposit in an interest-bearing account. Case-Laws SEBI Thu, 09 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781220