Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: TDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: due date for vat payment
 
 
General »
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms
 Activities To Be Treated As Supply Even If Made Without Consideration Under CGST ACT
  Haryana Goods and Services Tax Bill passed
 Maharashtra to focus on rise in non-tax income

SC upholds Sebi's suspension order on two brokerage houses
February, 05th 2011

The Supreme Court today upheld the order of market regulator the Securities and Exchange Board of India (Sebi) to suspend registration of two brokerage houses Amgis Holdings and Pals Overseas for wrongly influencing the price of a particular scrip.

A Bench headed by the Chief Justice S H Kapadia dismissed the petitions filed by Amgis Holdings and Pals Overseas challenging the orders of Sebi.

The Sebi on July 7, 2007 directed National Stock Exchange to suspend registration of these two after finding them guilty of fictitious trading in the scrip of Roofit Industries between October, 1990 and May 2001.

The probe found that the brokerage houses had traded on behalf of their clients, who were related to each other as well as the company, thereby influencing the price.

Subsequently, Sebi issued them show cause notices under the Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities Market Regulation, 1995.

Later, in July, 2007 Sebi directed NSE to suspend their registration.

The brokering houses challanged the Sebi order before the Securities and Appellate Tribunal (SAT), which also rejected their plea on December, 2010. It said the two were involved in the gameplan to manipulate the market through execution of fictitious and non-genuine trade.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions