Court Upholds SEBI Order: Guilty of Share Price Manipulation, Violating Section 12A; No Jurisdiction u/s 15Z.

Manipulation of share price - guilty of violating provisions of Section 12A (a), (b), (c) of the SEBI Act - The securities market deals with the wealth of investors. Any such manipulation is liable to cause serious detriment to investors’ wealth. In this backdrop, the order which has been passed by the WTM cannot be regarded as disproportionate so as to result in the interference of this Court in the exercise of its jurisdiction under Section 15Z of the SEBI Act. - SC .....

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