SC upholds acquittal of Gammon India promoter Abhijit Rajan in insider trading case
A two judge Supreme Court bench of Justice Indira Banerjee and Justice V Ramasubramanian noted that the contract of Gammon was for a Rs. 1648 crore highway project whereas that of Simplex was for a Rs. 940 crore highway project. The judges noted that using 'simple arithmetic' the contract of Gammon was more valuable and the termination of the shareholder agreement between the two companies was beneficial to Gammon shareholders.