Trading as defined under Regulation 2 (1) (l) means and includes subscribing, buying, selling,
dealing, or agreeing to subscribe, buy, sell, deal in any securities, and "trade" shall be construed accordingly. The term trading is widely defined to include dealing in securities and intended to curb the activities based on unpublished price sensitive information (UPSI) which are strictly not buying, selling or subscribing, such as pledging etc. Hence, trading would include Creation/invocation/revocation of pledge.
Whether creation of pledge, invocation of pledge and revocation of pledge can be deemed as trading?
