Three individuals on Tuesday settled with capital markets regulator Sebi a case pertaining to alleged violation of insider trading rules in the scrip of PNB Housing Finance Ltd after paying Rs 1.56 crore collectively.
Those who settled the case are — Sidhant Chandalia, Naysar Parikh and Ronak Narendra Parikh, according to two separate orders passed by the Securities and Exchange Board of India (Sebi).
Individually, Chandalia and Naysar Parikh paid Rs 50.7 lakh each towards the settlement amount, and Ronak Narendra Parikh remitted Rs 45.5 lakh as a settlement charge and Rs 8.98 lakh towards disgorgement of wrongful gain along with interest.
“In view of the acceptance of the settlement terms and the receipt of settlement amount…, the instant adjudication proceedings initiated against the Noticee(s) vide SCN (Show Cause Notice) …is disposed of,” Sebi said.
The directives came after the three persons filed applications with Sebi proposing to settle the instant proceedings initiat
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