The Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs1.05 crore on Indiabulls Ventures Ltd (now known as Dhani Services), Pia Johnson -its former non-executive director, Mehul Johnson - her husband and Lalit Sharma -its company secretary for violating insider trading norms.
The channel had earlier promised its shares as security.
15 Feb, 2021 - 01:40 PM IST | By indiantelevision.com Team
NEW DELHI: In a major relief to NDTV promoters Prannoy Roy and Radhika Roy in the “wrongful gains by insider trading” case, the Supreme Court today directed the Securities Appellate Tribunal (SAT) to hear their appeal against the SEBI penalty of over Rs 16.97 crores, without asking for any deposit. The bench added that no amount shall be coercively recovered from the appellants for hearing the case.
The SAT had earlier directed the promoters of NDTV to deposit 50 per cent of the disgorged amount, which they allegedly made via wrongful insider trading, before markets regulator SEBI.
SAT stays SEBI order against Kishore Biyani
February 15, 2021
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The Securities Appellate Tribunal (SAT) has granted a stay on SEBI’s order against Kishore Biyani in an insider trading case.
SAT has, however, asked Biyani and others involved in the case to deposit ₹11 crore with SEBI within four weeks, said sources.
The matter was heard before Justice Tarun Agarwala. Future Corporate Resources Limited (FCRL), Future Group’s Kishore Biyani and his brother Anil Biyani had moved an appeal in SAT against SEBI order that barred them from the securities market.
The case pertains to an announcement made by FRL to the exchanges on April 20, 2017. FCRL merged into Suhani Trading and Investment Consultants Private Limited, which resulted in the de-merger of a few businesses of FRL which benefitted the company in a monetary manner.
Mumbai: Billionaire stock market investor Rakesh Jhunjhunwala has filed a consent application with the Securities and Exchange Board of India (Sebi) to settle an alleged insider trading case in the shares of education company Aptech Ltd dating to 2016, said two people familiar with the development.
Apart from Jhunjhunwala, Aptech board members Utpal Sheth, Ramesh S Damani and Madhu Jayakumar are also learned to have filed consent applications with Sebi. Sheth is the CEO of Jhunjhunwala’s asset management firm Rare Enterprises.
Consent applications are out-of-court settlements over securities law violations. They are negotiated between the regulator and the entities concerned, without admission of guilt and without denial of liabilities, and involves the payment of a fee. The consent mechanism is a discretionary exercise on the part of the regulator.
January 18, 2021
Rakesh Jhunjhunwala, stock-market investor - PAUL NORONHA× High-profile stock market investors, including billionaire Rakesh Jhunjhunwala and Ramesh Damani, have approached market regulator SEBI to ‘settle’ an insider-trading case where they are currently being probed, sources in the know told
BusinessLine.
The case relates to trading in the shares of Aptech Computers in 2016.
Others being probed in the matter, and who have also sought to settle the matter with SEBI, include Jhunjhunwala’s brother Rajesh Kumar a chartered accountant, wife Rekha, and mother-in-law Sushiladevi Gupta.
Ushma Sheth, who is the sister of Utpal Sheth, CEO of Jhunjhunwala’s flagship investment company Rare Enterprises, and Madhu Vadera Jayakumar, a board member of Aptech, have also sought settle the issue.