SAT reduces period of restraint and penalty as appellant had entered into minuscule orders which looked manipulative

COMPANY LAW/SEBI : Where appellants had entered into miniscule orders which looked manipulative and pattern of appellant's trading had been of market manipulating nature, same were violative of provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulation, 2003, however, period of 5 years restraint and amount of penalties imposed on appellants were harsh and disproportionate and same were to be reduced

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