2017 (8) TMI 540

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....Ms. Surekha Raman, Anuj Sarma, Ms. Niharika, Aman Shukla, Ms. Kanika Kalaiyarasan, K.T.S. Tulsi, Gaurave Bhargava, Kuber Boddh, Gagan Gupta, Mayank Mishra, Divyam Agarwal, Ritunjay Gupta, Dheeraj Nair, Ms. Hetu Arora Sethi, Yogesh Jagia, Amit Sood, Yogesh, Rajesh Agrawal and Rameshwar Prasad Goyal, Advs ORDER 1. The operative findings recorded against the respondent on the basis of which penalty....

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....rder of Passport and consequently squared off his position when the orders of Passport were placed in the market. Mr. Dipak Patel, appellant in Appeal no. 216 of 2011 (for short 'Dipak') was the portfolio manager of Passport and is also cousin of KB, appellant in Appeal no. 74 of 2012 and Shri Anandkumar Baldevbhai Patel (for short 'AB), appellant in Appeal no.78 of 2012. The modus ope....

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....ulations. According to the Board, it also breached the integrity of the market and therefore in exercise of the powers under section 19 read with section 11(4) and 11B of the Securities and Exchange Board of India Act, 1992 (for short the Act), the whole time member of the Board passed an ad interim order on May 28, 2009 giving directions as under, pending investigation: ............................

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.... referred persons the respondent could have been treated differently. No conclusion in the light of the findings of the learned Appellate Tribunal that the trading was done by using the telephone numbers registered in the name of the respondent amounted to front running is also recorded. Rather the finding of the learned Appellate Tribunal is that the respondent had aided and abetted Kanaiyalal Ba....