D) FRAUDULENT AND UNFAIR TRADE PRACTICES

After enacting the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to the securities market) Regulations, which enabled SEBI to investigate into market manipulations and fraudulent and unfair trade practices, vigorous efforts were undertaken to unearth these manipulations and practices and take action against the manipulators/violators. During 1999-2000, 47 cases were taken up for alleged market manipulation and price rigging; 2 cases were taken up for alleged "issue" related manipulation, etc. The details of the same have been elaborated in Part II of the report.