Appellant trader was guilty of insider trading as he possessed UPSI while purchasing shares of a connected entity

COMPANY LAW/SEBI : Where appellant-trader was acting as a front entity of company ‘V’ for purchase of shares of its closely connected entity i.e., A while in possession of unpublished price sensitive information, appellant was guilty of violating SEBI Act and PIT regulations and, thus, order passed by SEBI restraining it from accessing securities market and to disgorge unlawful gains was justifiedCOMPANY LAW/SEBI : Where appellant-trader was acting as a front entity of company ‘V’ for purchase of shares of its closely connected entity i.e., A while in possession of unpublished price sensitive information, appellant was guilty of violating SEBI Act and PIT regulations and, thus, order passed by SEBI restraining it from accessing securities market and to disgorge unlawful gains was justifiedwww.taxmann.com Latest Case LawsRead More

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