Eight people were fined a total of Rs8 lakh on Wednesday by the market regulator Sebi for breaking the rules against insider trading in Titan Company Ltd. shares.
In accordance with eight separate decisions, the regulator-imposed fines of Rs1 lakh each on Kuldeep Singh Yadav, Ganesh Kumar K, K Ramakrishna, P Tamilarasan, O Boopathi, Ketan Shantilal Savaliya, Rakesh Kishor Rathod, and Soma Bhattacharya.
Between April 2018 and March 2019, Titan's designated individuals and personnel completed the transactions.
The ruling was made after Sebi received a letter from Titan Company Ltd (TCL) informing the market regulator that certain of its authorized individuals and employees had violated the company's code of conduct and PIT (Prohibition of Insider Trading) regulations.
Following that, Sebi looked into TCL's stock and found many instances of PIT rule violations between April 2018 and March 2019.
According to the Securities and Exchange Board of India, they had traded in the company's securities while they were employed but failed to notify the company of their transactions as required by the insider trading rules (Sebi).
Given that the trades were worth more than Rs10 lakh in the market, disclosure was required.
Banyantree Service Ltd was fined Rs3 lakh by Sebi for breaking the rules governing investment advisers in a separate judgment.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.