Two individuals settle insider trading case with Sebi paying Rs 74 lakh

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Two individuals settle insider trading case with Sebi paying Rs 74 lakh - Business Standard

Quick Summary:

Two individuals, including a former employee of Deloitte India, on Monday settled with capital markets regulator Sebi a case pertaining to the alleged violation of insider trading rules by paying Rs 74 lakh towards settlement fee.

"In exercise of the powers...and in terms of the settlement regulations, it is hereby ordered that any proceedings that may be initiated for the violations are settled in respect of the applicants," Sebi's whole-time member Kamlesh C Varshney said in the settlement order.

Nimai Parekh and Rahil Dalal (applicants) had proposed to settle the matter by neither "admitting nor denying the findings of fact and conclusions of law", Sebi said.