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 t he 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 trad ing and substantial acquisition of securities or control – On facts, a ppellant engaged in manipulative trade as a result share price of a c ompany came to be manipulated – Order passed by the Whole Time M ember- WTM prohibiting the appellant from carrying on trad ing in its proprietary account, for a period of four years – T hereafter, the adjudicating officer imposed penalty of Rs 15 lakhs – During the pendency
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