Edition defines "concoct" as to fabricate, to plan,
devise, to make up or put together, to prepare. The same dictionary
defines "fudge ... Edition defines
"connivance" as voluntary blindness to some present act or conduct.
"Fraudulent" means based of fraud; proceeding from or characterized
Edition defines "concoct" as to fabricate, to plan,
devise, to make up or put together, to prepare. The same dictionary
defines "fudge ... Edition defines
"connivance" as voluntary blindness to some present act or conduct.
"Fraudulent" means based of fraud; proceeding from or characterized
Edition defines "concoct" as to fabricate, to plan,
devise, to make up or put together, to prepare. The same dictionary
defines "fudge ... Edition defines
"connivance" as voluntary blindness to some present act or conduct.
"Fraudulent" means based of fraud; proceeding from or characterized
Ms. Chitra Ramkrishna vs Sebi on 9 August, 2023
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
securities market and referred to the meaning of the expression "fraud" defined in regulation 2 (c) that : "fraud includes
scrips. Thus their nexus in
transactions is established. The term 'fraud' defined in SEBI
(PFUTP) Regulations, 20037 reads thus:
"Regulation
fraudulent within the meaning of the term
'fraud' as defined under Regulation 2(1)(c) of Securities and
Exchange Board of India (Prohibition
have colluded. It is
contended on behalf of the appellants that if fraud is allegedly committed
by the appellants in collusion with the issuer companies ... concept of "fraud" set out in the
PFUTP Regulations, 2003. The expression "fraud" is defined under the
PFUTP Regulations as follows
would make it clear that it does not import any concept
of fraud at all and the words "any manipulative or deceptive device ... other
hand, imports the concept of fraud but fraud as defined in Regulation 2(1)(c) of the
Regulations which is reproduced hereunder for facility
defraud investors in dealing in the securities. They have also perpetrated fraud as defined
in regulation 2(c) of the FUTP Regulations. We cannot restrict ... provisions of section 12A of the Act and the definition of fraud in
regulation 2(c) of the FUTP Regulations are very wide in their
