Categories: Business

sebi imposes rs 15 lakh fine on person for leaking price sensitive info

Photo: FILE

sebi

new Delhi. Capital market regulator SEBI has imposed a fine of Rs 15 lakh on a person for leaking sensitive information related to the financial results of Bata India Limited before the company's official announcement. This information was leaked by sending a WhatsApp message. The Securities and Exchange Board of India (SEBI) has said in an order that Aditya Omprakash Gagger has been fined Rs 15 lakh for leaking sensitive information in terms of share prices. SEBI has investigated the matter between January 2016 and February 2016 for disseminating unpublished price sensitive information through WhatsApp message. The investigation found that Gagar, along with others, disseminated unpublished sensitive information related to Bata India through WhatsApp messages. It circulated unpublished information about Bata India's sales turnover, net profit during the quarter ended December 2015.

SEBI has said in its order passed on Tuesday that the disclosure of this information violated the rule of equality for all in the transmission of information. SEBI has noted that developments in the field of technology, flow of information and market access have created a new market structure that can influence the way in which there may be market connivance.

This post was published on June 17, 2020 7:22 pm

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