Supreme Court · 2022 INSC 628 · Decided 26 May 2022
MBL and Company Limited v. Securities and Exchange Board of India
- Court
- Supreme Court of India
- Citation
- 2022 INSC 628 · [2022] 4 S.C.R. 817
- Case number
- CIVIL APPEAL No. 4262/2022
- Decided
- 26 May 2022
- Bench
- D.Y. CHANDRACHUD, BELA M. TRIVEDI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Securities and Exchange Board of India Act 1992: ss. 12(A) (a), (b), (c), ss. 15Z, 15HA, 15HB, ss. 11, 11(4), 11B/19 - Prohibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control - On facts, appellant engaged a result share price of a company came to be manipulated - Order passed by the Whole Time Member- WTM prohibiting the appellant from carrying on trading in its proprietary account, for a period of four years - Thereafter, the adjudicating officer imposed penalty of Rs 15 lakhs
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