Scenario 2: You are the Audit Manager of Akbar Audit & Co. You own the shares of Ithad Steel Manufacturers which is also one of your clients. The company has earned 5% higher profits than the previous year not announced yet. However through your network you let the market believe that the company has actually earned 25% higher profit. You also invest your 10 lakh rupees in purchasing the shares. The shares price starts to rise on anticipated profit and before the official announcement of the profit you sell all of your holdings in Ithad Steel.

Discuss the legal implication of this transaction. (BREIF AND PRECISE)