https://www.taxtmi.com/caselaws?id=465268 SAT partly allowed the appeals arising from SEBI's orders alleging fraudulent and unfair trade practices in the manipulation of a scrip through preferential allotment and secondary market trades. It held that sellers contributing less than 1% of the total traded volume, who merely executed sell orders at prevailing or better market prices, could not be deemed manipulators; SEBI's consistent policy not to penalize such sellers was applied, and the orders of the WTM and AO against these appellants were quashed. However, SAT affirmed the findings against three key noticees who operated as principals, funded promoter share purchases, executed a fraudulent scheme, and violated Regulations 3 and 4 of the PFUTP Regulations. en-us Tue, 14 Feb 2023 00:00:00 +0530 Thu, 11 Dec 2025 17:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465268 SAT partly allowed the appeals arising from SEBI's orders alleging fraudulent and unfair trade practices in the manipulation of a scrip through preferential allotment and secondary market trades. It held that sellers contributing less than 1% of the total traded volume, who merely executed sell orders at prevailing or better market prices, could not be deemed manipulators; SEBI's consistent policy not to penalize such sellers was applied, and the orders of the WTM and AO against these appellants were quashed. However, SAT affirmed the findings against three key noticees who operated as principals, funded promoter share purchases, executed a fraudulent scheme, and violated Regulations 3 and 4 of the PFUTP Regulations. Case-Laws SEBI Tue, 14 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465268