The transactions were carried out by the designated persons/employees of Titan between April 2018 and March 2019.
The move came after the person -- Kamal Gianchandani -- approached Sebi to settle the adjudication proceedings initiated against him through a settlement order.
Ishan Wahi, 32, and his brother Nikhil Wahi, 26, are citizens of India and were residing in Seattle while Sameer Ramani, 33, resides in Houston.
Ishan Wahi, the product manager at the cryptocurrency exchange, and his brother Nikhil Wahi were arrested in Seattle on Thursday.
The proposed regulations use the existing, time-tested framework for listed entities with appropriate changes. But a fresh look by an expert committee would have been better
SEBI’s consultation paper proposes to bring mutual fund units under the ambit of insider trading regulations. And it wants to include lawyers, auditors, bankers, credit rating agencies and others associated with the fund house.
The regulator levied a fine of Rs 1 lakh each on Chirag Malhotra, Meenakumari M, BG Dhananjaya and Nikhil Jain, according to four separate orders.
Sebi on Thursday barred one person from the capital markets for six months and imposed a penalty of Rs 12 lakh on him for indulging in insider trading in the shares of IT solutions company NIIT Technologies.
According to the US Department of Justice, Nathanial Chastain used confidential information about what NFTs, which are financial securities consisting of digital data, were going to be featured on OpenSea’s homepage for his personal financial gain
Unless the cost of chasing greed is made prohibitive such cases of front-running, market manipulation and insider trading will continue.
A recent Supreme Court decision where it reversed SEBI’s order of disgorgement of about Rs 8.30 crore of alleged insider trading profits and penalty raises disturbing questions
Bijapurkar resigned as an independent director from the ICICI Bank board, citing likely conflict of interest and now reportedly faces a probe by market regulator Sebi.
Sebi said Ramit Chaudhari and Keyur Maniar "should desist from directly accessing the securities market till the completion of the ongoing investigation into the matter."
"Insider trading goes against the very basics of trust in the securities market. With all these millions of new investors entering the market, this trust of investors needs to be maintained."
The scheme of paired contracts illegally traded on NSEL platform has inflicted a huge loss to the market to the extent of Rs 5,500 crore, Sebi noted.
Sebi conducted an investigation between April 2017-September 2017 in the scrip of Videocon Industries for the possibility of insider trading and volume manipulation by certain entities.
During their employment with Titan, they had transacted in securities of Titan but failed to make requisite disclosures to the firm as required under PIT norms.
The authorised representative– Pradeep kumar Dhoot– was the insider who traded on behalf of the promoter the company, CE India Ltd, during the UPSI period.
Insider trading cases are not uncommon. What made this particular case intriguing was the involvement of two ex-employees of rival IT companies that often compete for the same projects. Moneycontrol pieces together the investigation and how Sebi cracked the case.
Two employees named were Ramit Chaudhri, Infosys executive and Keyur Maniar, a Wipro employee, who traded Infosys' scrips right after the announcement of Infosys' Vanguard deal in July 2020.
The regulator said a detailed investigation in the matter is in progress which may bring out additional roles of omission or commission, of these five persons, if any, in detail.
The Pune-based non-banking finance company submitted the audio recording of the investor call through stock exchange filing on Sunday.
Following his resignation, Bhutada ceases to be a Director and key managerial personnel of the company.
The investigation was conducted to ascertain whether there was any violation of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices ) Regulations by certain entities while trading.
In six separate orders, Sebi said these individuals were employees or designated persons of Titan at the time of the violation.