Penalty imposed for alleged unfair trade was to be set aside as SEBI couldn't indicate timings of such wash trades

COMPANY LAW/SEBI: Where while passing impugned order against appellant company, who was a day trader, Adjudicating Officer did not indicate timing of wash trades, any change in beneficial ownership or any element relating to how trading of appellant adversely affected market, benefit of doubt was to be given to appellant and penalty imposed upon appellant under section 15HA was to be set aside

from www.taxmann.com Latest Case Laws https://ift.tt/2L0YQ5L