Supreme Court of India
Mbl and Company Limited v. Securities and Exchange Board of India
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the above reasons, we are not inclined to accede to the submissions which have been urged on behalf of the appellant.
Judgment, page 10
From the headnote
Securities and Exchange Board of India Act 1992: ss. 12( ) (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 in manipulative trade as 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 – During the pendency of…
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