Titan case- Sebi fines eight individuals for breach of insider trading norms
时间:2024-09-29 03:57:24 阅读(143)
Markets regulator Sebi on Wednesday imposed fines totalling Rs 8 lakh on eight individuals for violation of insider trading norms in the shares of Titan Company Ltd.The regulator slapped a fine of Rs 1 lakh each on Kuldeep Singh Yadav, Ganesh Kumar K, K Ramakrishna, P Tamilarasan, O Boopathi, Ketan Shantilal Savaliya, Rakesh Kishor Rathod and Soma Bhattacharya, according to eight separate orders.
The transactions were carried out by the designated persons/employees of Titan between April 2018 and March 2019.The order came after Sebi received a letter from Titan Company Ltd (TCL) wherein the company intimated the market watchdog about contravention of PIT (Prohibition of Insider Trading) regulations and the company’s code of conduct by some of its designated persons/employees.
Thereafter, Sebi conducted an investigation into the shares of TCL and observed several non-compliances with PIT rules during the period April 2018 to March 2019.During their employment, they had transacted in the securities of the firm but failed to make disclosures to the firm under the insider trading norms, as per the Securities and Exchange Board of India (Sebi).The disclosure was mandatory as the transactions exceeded the market value of Rs 10 lakh.Meanwhile, in a separate order, Sebi levied a fine of Rs 3 lakh on Banyantree Services Ltd for violating investment adviser norms.
Banyantree Services Ltd is a Sebi-registered investment adviser. The order came after Sebi conducted an inspection of Banyantree Services Ltd having a website and an app with the name of ‘ET Money’.The inspection was conducted during 2018-2019.
猜你喜欢
- International Yoga Day 2023- Glimpses of mesmerising celebrations across the globe – See photos
- Technical stocks to buy- Charts show strong up move in TCS, HAL, other stocks; Nifty may move to 17900
- Tis the season for…holiday blues! How to stay calm & stress-free – Top tips by a psychologist
- The coveted clubs- Very exclusive, members-only clubs are getting popular around the world
- UCO Bank shares climb 2 pc on BSE after Q4 earnings
- TVS Srichakra, Vadilal Industries among 88 BSE stocks to hit 52-week highs, 21 BSE stocks touch 52-week lows
- Tech Mahindra, Adani Transmission, M&M Financial, Adani Ports, Nykaa, Grasim Industries, KSB stocks in focus
- TMB hopes to tide over branch restrictions post IPO
- OTT Special- From Rohit Shetty to Ram Madhvani, meet the directors set to shine on platforms in 2024