Raghav, General Manager (Accounts) of X Ltd., was found to be indulging in insider trading and as a consequence, the company terminated his services. The SEBI also took cognizance of the matter and initiated proceedings
CS Executive · Capital Markets & Securities Laws · PYQS · June 2014
Raghav, General Manager (Accounts) of X Ltd., was found to be indulging in insider trading and as a consequence, the company terminated his services. The SEBI also took cognizance of the matter and initiated proceedings against him under the SEBI (Prohibition of Insider Trading) Regulations, 1992. Raghav pleaded that since X Ltd. had already penalised him by terminating his services, the SEBI could not initiate any proceedings against him. As per the SEBI Regulations and decided case laws, suggest whether the SEBI has a right to take any action against Raghav in this case of insider trading.
Topics: Insider Trading
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