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Rupa and Company Case: Sebi penalises two entities for violating insider trading norms
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Sebi has levied penalties totalling Rs 20 lakh on two entities for flouting insider trading norms in the shares of Rupa and Company Ltd (RCL). The regulator imposed a fine of Rs 10 lakh each on Sushil Patwari (Independent Director of RCL) and Nagreeka Capital and Infrastructure Ltd (NCIL).
The order came after Sebi conducted an investigation in the scrip of RCL, to ascertain as to whether certain entities have traded in the company during February-June, 2021, while in the possession of unpublished price sensitive information (UPSI).
The unpublished price sensitive information related to the announcement of financial results for the quarter and year ended March 2021.
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