https://www.taxtmi.com/caselaws?id=781496 Matched buy and sell trades in illiquid stock options, executed with the same counterparty, in the same contracts, within a short span and in identical quantities, were treated as pre-arranged reversal trades rather than genuine market transactions. The Tribunal held that this conduct created artificial volume and distorted market activity, amounting to a violation of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003. The plea that delay in issuing notice should defeat the proceedings was rejected in view of the seriousness of the transactions. The violation was upheld and the penalty order sustained. en-us Thu, 03 Jul 2025 00:00:00 +0530 Mon, 17 Nov 2025 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781496 Matched buy and sell trades in illiquid stock options, executed with the same counterparty, in the same contracts, within a short span and in identical quantities, were treated as pre-arranged reversal trades rather than genuine market transactions. The Tribunal held that this conduct created artificial volume and distorted market activity, amounting to a violation of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003. The plea that delay in issuing notice should defeat the proceedings was rejected in view of the seriousness of the transactions. The violation was upheld and the penalty order sustained. Case-Laws SEBI Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781496