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Unless proved Share Broker cannot be held Guilty of Circular Trading

Networth Stock Broking Ltd. Vs Securities and Exchange Board of India (Securities Appelate Tribunal Mumbai)

It has been specifically pleaded by the appellant that during the investigation period, i.e. in the year 2002, there was no software available for carrying out long or real time surveillance and it was not possible to carry out surveillance of thousands of transactions of all clients on a daily basis. It has also been pleaded by the appel...

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Posted Under: SEBI | |

Adroit Financial Services (P.) Ltd. v. Securities and Exchange Board of India (SAT)

Adroit Financial Services (P.) Ltd. Vs Securities and Exchange Board of India (Securities Appellant Tribunal Mumbai)

The first allegation relates to transfer of funds in the bank account of the appellant. It is alleged that the appellant has transferred funds from its bank account earmarked in clients trading transactions to the bank account earmarked for its own business operations. In other words, there was no proper segregation of the funds relating ...

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Posted Under: SEBI | |

Every information required to be disclosed is to stock exchange is not necessarily a ‘price sensitive information’

Anil Harish Vs Securities and Exchange Board of India (Securities Appallete Tribunal Mumbai)

When a company having contracts worth Rs.1000 crores pending with it for execution bags a few new projects through the tendering process such information need not necessarily be price sensitive. ...

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Posted Under: SEBI | |

Company not eligible to bring rights issue till prohibitory orders against promoter group is in force

SRM Energy Ltd. Vs SEBI (Securities Appellate Tribunal Mumbai)

Regulation 4 appears under Chapter II providing common conditions for public issues and rights issues. It prescribes general conditions meaning thereby that unless the requirements laid down in these general conditions are satisfied, the Board will not proceed with granting its clearance for the issue of capital. These conditions must be ...

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Posted Under: SEBI | |

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