Insider trading glare on senior IndusInd Bank officials. What do rules say?

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Insider trading glare on senior IndusInd Bank officials. What do rules say? - Business Standard

Quick Summary:

If the trades do not meet the criteria for these exceptions, it would constitute a breach of insider trading norms,” he added.

The transactions have come under scrutiny as IndusInd shares have declined over 30 per cent due to losses incurred by the lender from its derivatives exposure.

In cases involving non-disclosure of shareholding changes as mandated under Sebi regulations, the penalty ranges from a minimum of Rs 1 lakh to a maximum of Rs 1 crore.“Additionally, under Section 24 of the Sebi Act, the regulator can initiate criminal proceedings, which may lead to imprisonment for up to 10 years, a fine of up to Rs 25 crore, or both,” Waskar said.