LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » India News

Sebi fines individual in M&M share trade case

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Updated: Fri, Oct 20, 2017
12:39 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Capital markets regulator Sebi has imposed a fine of Rs 1 lakh on Vijay Anant Dhongde for trading in the shares Mahindra & Mahindra as a designated employee during the restricted periods.

It could not immediately be ascertained however whether Dhongde is still an employee at Mahindra & Mahindra Ltd (MML) as there is no specific mention about his current status in the Sebi order.

The regulator had conducted a probe into the alleged irregularity in trading in MML shares during November-December 31, 2013 for possible violations of the Sebi's norms after the auto maker itself informed to the markets watchdog about the violations by its employee.

The probe found that Dhongde had traded in the shares of MML when the trading window was closed for declaration of unaudited financial results of the company for the quarter ended on December 31, 2013.

He had traded in the scrip for over Rs 9 lakh and entered into opposite transaction within six months following the prior transaction.

As per Sebi norms, opposite transaction refer to selling or buying any number of shares within 6 months following the prior transaction.

Dhongde sold 1,000 shares each on November 20, 2013, November 28, December 9, December 20, and December 30.

He took a reverse position on December 31, for 1,000 shares a day after he had sold 1,000 shares i.e. on December 30. 2013.

The difference between the selling price on December 30, 2013 and purchase price on December 31, 2013 which can be termed as profit on this transaction is Rs 25,000.

"I find that the noticee being the designated employee of the company had transacted in the shares of MML during the window closure period and also had entered into opposite transaction within six months from the prior transaction which was in complete violation of...the Model Code of Conduct specified in...the PIT (Prohibition of insider trading) Regulations," Sebi General Manager and Adjudicating Officer D Sura Reddy said in an order passed on October 18.

Accordingly, Securities and Exchange Board of India (Sebi) had impose a penalty of Rs 1 lakh on the notice -- Dhongde.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Earthquake today: 42 dead, 15,000 displaced in massive Indonesia quake

South star Vijay's 'Master' movie to get Hindi remake

AIIMS director, Niti Aayog's member among 1st to get Covid 19 vaccine

7th Pay Commission: Apply for 119 Senior Residents posts on aiimsjodhpur.edu.in | Check salary, eligibility and more here

Indian Logistics and Supply Chain Trends 2021 II Details Explained

After Rakesh Jhunjhunwala sells 12 lakh Escorts shares, price falls! What must investors do? Expert reveals

ICICI Bank credit card, debit card holders delight! Get discount up to 50% on essential and luxury items | check details

Stocks to Buy: Tata Motors stock on a roll, gains 6 pct on Friday; Know why trends to remain bullish

World biggest Covid 19 vaccination drive: All you need to know about this mega drive

Getting Driving licence made easy! Here is how you can apply for licence in Delhi, UP, MP, Bihar and other states

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved