Capital markets regulator Sebi has slapped monetary penalty on three individuals for violating insider trading norms in shares of Titan Company Ltd.
Titan has written to Sebi about contravention of Sebi norms and company’s code of conduct for prevention of insider trading by some of its designated employees.
Later, Sebi conducted an investigation in the scrip of Titan and observed several non-compliances of insider regulations during the period April 2018 to March 2019.
During their employment with Titan, they had transacted in the securities of Titan Co Ltd but failed to make the requisite disclosures to the firm as required under the prohibition of insider trading norms, as per Sebi.
The disclosure requirements were triggered on account of the transactions concerned exceeding the traded value of ₹10 lakh.
For violation of the norms, the individuals have been penalised by the regulator.
the App to get 14 days of unlimited access to Mint Premium absolutely free!