| Log in

SEBI Fines Jaiprakash Head For Insider Trading

06 January, 2012

The Securities and Exchange Board of India (SEBI), India’s capital markets regulator, fined top executives of Jaiprakash Associates, an engineering and construction firm, for insider trading in the company’s stock in 2008.

SEBI imposed a penalty of 1 million rupees each on Manoj Gaur, chairman of the Indian conglomerate, his wife Urvashi, and brother Sameer Gaur, as well as some top executives of the company.

The penalty is to be deposited within 45 days of the order, SEBI said in an order dated January 5, but issued on its website on Friday.

Shares of the company, valued at $2.2 billion, closed down 4.6 percent on Friday in a flat Mumbai market.

Founders, including the Gaur family, hold 46.88 percent stake in Jaiprakash Associates, which also has interests in hospitality, power and cement.


Leave Your Comment
SEBI fines Piramal over violation of insider trading norms during Abbott deal

SEBI fines Piramal over violation of insider trading norms during Abbott deal

PTI 1 year ago
Sebi today imposed Rs 6 lakh fine on five entities including Piramal, ...
SEBI coming up with new insider trading norms

SEBI coming up with new insider trading norms

PTI 3 years ago
In its efforts to make listed firms more responsible towards investors, Sebi may...
SAT ends hearing in RIL insider-trading case; verdict on Monday

SAT ends hearing in RIL insider-trading case; verdict on Monday

PTI 3 years ago
A full bench of the Securities Appellate Tribunal (SAT), headed by presiding...
No Comments

SEBI Fines Jaiprakash Head For Insider Trading

Powered by WordPress.com VIP