Sonam Chandwani, Managing Partner, KS Legal & Associates Shares a Quick Byte on SEBI Banning 3 Entities in Infibeam Avenues Insider Trading Case
SEBI struck its claws again by banning 3 entities from the market. The said order was passed in violation to the provision of the Prohibition of Insider Trading Regulation as the three entities were found to be in hold of unpublished price sensitive information.
It is pertinent to note that the order was rightly passed upon the presumption that the securities were traded based upon the knowledge and information possessed in lieu of the unpublished price sensitive information. The watchdog has passed similar orders in the past, thereby, time and again it can be observed to be upholding transparency in the trading market.