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2013 (11) TMI 697 - SECURITIES APPELLATE TRIBUNAL, MUMBAIViolation of provisions of Regulations 3(a),(b),(c),(d), 4(1) and 4(2), (a) & (e) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 under Section 15HA of the SEBI Act, 1992 - Fraudulent and manipulative dealing in shares - Held that:- Adjudicating Officer himself has not found two main charges against the Appellant sustainable. However, Appellant appears to be having some connection with some of the promoter group members and only for this the Appellant has been held to be guilty of violating the law in this regard - No legal infirmity in the order passed by the Respondent against the Appellant but keeping in view the totality of the facts and circumstances of the case and submissions made at the Bar, we reduce the penalty to Rs. 1 lac while upholding rest of the order against the Appellant - Decided partly against assessee.
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