https://www.taxtmi.com/caselaws?id=782253 SAT allowed the appeal, setting aside SEBI's findings of insider trading and related penalties. The tribunal held that the appellants, though insiders and in possession of UPSI regarding a possible merger, fell within the exception in proviso (ii) to Regulation 4(1) of the PIT Regulations, as the 9% equity sale was executed through a block deal where both parties had equal access to information and no outsider was affected. SAT rejected the allegation that the trade was guided by UPSI, noting the transaction was a conscious debt-repayment decision, pre-dated public disclosure, yielded no unlawful gain, and in fact caused the appellants to miss out on lawful profit. en-us Thu, 27 Mar 2025 00:00:00 +0530 Wed, 26 Nov 2025 11:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782253 SAT allowed the appeal, setting aside SEBI's findings of insider trading and related penalties. The tribunal held that the appellants, though insiders and in possession of UPSI regarding a possible merger, fell within the exception in proviso (ii) to Regulation 4(1) of the PIT Regulations, as the 9% equity sale was executed through a block deal where both parties had equal access to information and no outsider was affected. SAT rejected the allegation that the trade was guided by UPSI, noting the transaction was a conscious debt-repayment decision, pre-dated public disclosure, yielded no unlawful gain, and in fact caused the appellants to miss out on lawful profit. Case-Laws SEBI Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782253