Supreme Court · 2018 INSC 119 · Decided 8 February 2018
Securities and Exchange Board of India v. Rakhi Trading Private LTD.
- Court
- Supreme Court of India
- Citation
- 2018 INSC 119 · [2018] 1 S.C.R. 937
- Case number
- CIVIL APPEAL No. 1969/2011
- Decided
- 8 February 2018
- Bench
- KURIAN JOSEPH, R. BANUMATHI (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
Headnote
SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003: Regns 3(a), (b), (c) and 4(1), (2)(a), (b) - Synchronized trading - Synchronization and reversal of trades, some in few seconds and majority, in any case on the same day, in the value of underlying - As a result one party booking gains and the other party booking a loss - In the show cause notice, allegation was that the parties-traders were buying and selling securities in the derivatives segment in synchronized and reverse transactions at a price
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