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MUMBAI: The country's largest lender HDFC Bank on Saturday said it has imposed a penalty of Rs 10.20 lakh on its senior executive Jimmy Tata for selling his shares in violation of insider trading regulations. Tata, the chief credit officer, sold 1,400 shares of the bank held by him in what the lender termed as an "inadvertent trade". "The Audit Committee has concluded that this was an inadvertent trade made without intent to violate the Bank's Share Dealing Code (Bank's Code) or the SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations)," the lender informed the exchanges ...

HDFC Bank penalises employee for wrongful share trading January 17, 2021 × In a rare instance where any listed company has penalised its own senior executive for ‘wrongful’ share market trading, HDFC Bank has imposed a penalty of ₹10.2 lakh against its senior executive Jimmy Tata, the chief credit officer of the bank, for selling shares in violation of insider trading violations. The bank has directed the officer to deposit the fine with SEBI’s investor protection fund. Experts are of the view that still this does not stop SEBI from taking action against the executive. Tata, who was...

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