Capital markets regulator Sebi on Tuesday levied a fine of Rs 2 lakh on an individual for violating insider trading norms in the shares of Titan Company Ltd (TCL).
The regulator slapped a fine of Rs 2 lakh on Samik Ghosh (noticee).
The transactions were carried out by the designated person/employee of TCL between April 2018 to March 2019.
The order came after Sebi received a letter from TCL, wherein the company intimated to the regulator about the contravention of PIT (Prohibition of Insider Trading) rules and the company’s code of conduct by some of its designated persons/employees.
Thereafter, Sebi conducted an investigation into the scrip of TCL and observed several non-compliances with PIT regulations during the period from April 2018 to March 2019.
During the employment, the noticee had transacted in the securities of the firm but failed to make disclosure to the firm under the insider trading norms, as per the Securities and Exchange Board of India (Sebi).
The disclosure wa
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