Sebi bans 14 entities in Lux Industries insider trading case
Capital markets regulator Sebi on Monday barred 14 entities for indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter of Lux Industries Ltd. Those banned by Sebi include Udit Todi, the son of the managing director of Lux, and is currently holding the post of executive director in the company, according to an interim order.
Sebi found that a group of connected/ related entities were observed to have taken long positions in the scrip. Pic: Reuters