During the investigation, it was found that Goenka failed to put in place adequate internal controls within the company to identify unpublished price sensitive information.
Market regulator Securities and Exchange Board of India (SEBI) has banned three individuals for engaging in insider trading in the scrip of Zee Entertainment Enterprises (ZEEL). While imposing a penalty of Rs90 lakh on the three
The three individuals banned by Securities and Exchange Board of India (SEBI) Bijal Shah, Gopal Ritolia and Jatin Chawla have also been directed to pay the fine within 45 days.
The case relates to insider trading activities by certain entities in the scrip of ZEEL, while in possession of UPSI pertaining to audited financial results of the media company for the quarter ended June 30, 2020 as well as launch of ZEEPLEX by the company on September 1, 2020.
Sebi has barred three individuals from the securities market for two years and imposed penalty totalling Rs 90 lakh on them in a case pertaining to insider trading activities in the scrip of Zee Entertainment Enterprises Ltd (ZEEL).