recording that
SEBI had found large scale price rigging, self trades, synchronised trades
and artificial increase in Last Traded Price, that the scrip exhibited
abnormally ... arranges purchase and sale of shares of penny stock
companies through synchronised trades, that cash is taken from
beneficiaries and, after routing through
broker of
through fraudulent trades the assessee in relation
to synchronised trades
or matched trades
Further, the penalty
imposed by the SEBI
on its Independent ... assessee or broker of the assessee in relation to synchronised trades or matched
trades. Further, the penalty imposed by the SEBI on its Independent director
parties are mentioned in the said order as having
indulged in synchronised trading. In absence of any such
29
ITA No.4464/Mum/2024 ... passed an "Ex-parte Ad Interim Order"
pointing out synchronised reversal trades in illiquid option
/currency derivatives carried out by certain traders through
parties are mentioned in the said order as having
indulged in synchronised trading. In absence of any such
29
ITA No.4464/Mum/2024 ... passed an "Ex-parte Ad Interim Order"
pointing out synchronised reversal trades in illiquid option
/currency derivatives carried out by certain traders through
Dy C.I.T. Cent Cir -6(2) , `Mumbai vs Shri Ashok B. Jiwrajka, Mumbai
they are of people of no means.
(vi). Price escalation through synchronised trading within limited
parties, mostly entities controlled by the entry operators.
(vii). Statement
desired
loss and/or profit. Such synchronized trading is violative of
transparent norms of trading in securities. If the findings of SAT are
Vivah Classique ... transaction lasts few
seconds and not more than an hour.
5. Synchronised trading in the illiquid stock/currency option which
are thinly traded
artificial trades
loss shown of Rs 1,96,04,400 on account of
trading in options cannot be held as bogus loss.
Therefore, the addition made ... material unearthed by the Investigation Wing, Mumbai, in relation
to synchronised trades in illiquid stock options an
and
d reversal trades
executed within a closed
profitability to justify such price fluctuations.
From this, he inferred that the trading in the scrip lacked
commercial rationale.
7.1. On this premise, and placing ... 2018). However, that decision
pertained to the issue of synchronised trades in the context of
securities regulation, and bore no direct nexus either with
further analysis of trade data
taken from the Calcutta Stock Exchange, it was found that the
above mentioned brokers traded in the 9 penny stocks ... brokers. Apparently, from the trade patterns it is evident
that while trading is done in a time in synchronised way, it has
also been observed
