₹5 lakh fine levied on Gandhi saying the accused traded in a miniscule number of shares and Sebi had failed to establish connection between her and six other accused. “One trade of the appellants cannot indicate a trading pattern which would result in giving a finding of any illegal act, collusion, meeting of minds or prearranged plan to inflate the price," SAT said in its order of 11 April.
SAT’s order was challenged in Supreme Court. According to the SAT order, in the absence of a connection between appellants, or other noticees, and the fact only one trade was executed by appellants is insufficient to establish a trading pattern that is collusive.
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