recognised stock exchange unless such company indulges in insider trading or market manipulation. (10) The Investigating Authority shall keep in its custody the books, registers
being found guilty of fraud. Hence it is clear that though market manipulation and fraud are both covered by the FUTP Regulations, different penalties ... prescribed for market manipulation and fraud by Regulation 26 of the Stock Broker Regulations. Thus, it is clear that when an intermediary - such a Broker
confidence of investors insecurities market. The sub-regulations (a) and (d) of regulation 4 which provides for prohibition against market manipulation run as under ... Administrative Judge on 'manipulation'.
Manipulation
'The court in Resch-Cassin listed various factors which characterize attempts by manipulators to raise the price
believe that such company has indulged in insider trading or market manipulation
decide as to whether the original petitioner was guilty of market rigging or market manipulation so as to take undue advantage of higher prices ... original petitioner was not in any way associated with the market rigging or market manipulation so as to take undue advantage of the higher prices
prima facie finding that the Appellant company had indulged in market manipulation, violating regulation 4(a) and (d) of the 1995 Regulations. The text ... large positions in the shares of the Appellant company, which facilitated market manipulation. The Appellant provided an exit route to brokers dealing for Damayanti group
persons directly or indirectly involved in creating such a false market. The market manipulation is a team action. The Respondent in its effort to find ... Unfair Trade Practices Relating to Securities Market) Regulations, 1995 which states as under:
"Prohibition against market manipulation
4. No person shall -
(a) effect, take
capital market is a statistical
indicator of how the market is functioning and
acts as a barometer for market behaviour. It is
not a product ... market without any equivalent cash
market movements. Further, the cash market
may move up today but the prediction for the F
& O market could
factually as the Respondents have failed to establish the charge of market manipulation by the Appellant. Referring to the main allegation that the Appellant manipulated ... price manipulation in the scrip, that thus the Respondents having come to such clear conclusion as to who manipulated the market, the public announcement
perfectly legitimate and normal part of trading in securities market, constitutes market manipulation and that if prices of a scrip fall pursuant to such trading ... part of normal business activity in the stock market and can never constitute market manipulation or be said to artificially raise or depress prices
