SAT upheld penalty of Rs. 15 lakh against appellant for indulging in self trades of scrips in violation of PFUTP norms

COMPANY LAW/SEBI : Where appellant, with a view to gain profit, indulged into trading in shares of company in a fraudulent manner, and also engaged in self trades, appellant had violated provisions of PFUTP Regulations and therefore, imposition of penalty of Rs. 15 lakhs by Adjudicating Officer was justified

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