Synchronized trading is illegal only on price manipulation: SAT

The Securities Appellate Tribunal (SAT) has asked the Securities Exchange board of India
(SEBI) to note that synchronized trading is unfair only if it leads to price manipulation.
The Securities Appellate Tribunal (SAT) said that synchronized trades were not illegal. They turn
illegal only if used to manipulate scrip prices. The fact that trades were carried out only for four
days during investigation period and were spread over three months with substantial time
difference between trades was ignored by Securities and Exchange board of India (SEBI).