SAT – After justification of alleged manipulative transactions subsequent accusation of misuse of account by broker cannot absolve appellant from penalty

SECURITIES APPELLATE TRIBUNAL, MUMBAI Sandeep Jain Versus Securities and Exchange Board of India APPEAL NO. 225 OF 2011 DECEMBER  20, 2012 ORDER P.K. Malhotra, Member & Presiding Officer (offg.) This appeal has been filed against the order dated November 22, 2011 passed by the adjudicating officer of the Securities and Exchange Board of India (the Board) against the appellant holding him guilty of violating the provisions of Regulations 3, 4(1) and 4(2)(a), (b), (e) and (g) of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practic...