Rakesh Jhunjhunwala and his wife Rekha paid Rs 18.5 crore and Rs 3.2 crore, respectively. The Rs 37-crore settlement amount includes disgorgement of gains and interest charges. Utpal Sheth, CEO of Jhunjhunwala’s asset management firm Rare Enterprises, and his sister Ushma Sheth Sule have also settled the insider trading complaint. Utpal Sheth is a director of Aptech. The probe relates to an Aptech filing with stock exchanges on September 7, 2016, announcing the company s entry into the preschool segment. The said information was considered Unpublished Price Sensitive Information (UPSI) and the period of UPSI was March 14, 2016, to September 7, 2016, Sebi said in its settlement order on Wednesday. It is alleged that Utpal Sheth and Rakesh Jhunjhunwala were in possession of the UPSI and communicated it to the other applicants.
SEBI settles insider trading case with Rakesh Jhunjhunwala - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
SEBI may settle issue for ₹40 crore, largest through consent mechanism thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
January 18, 2021 Rakesh Jhunjhunwala, stock-market investor - PAUL NORONHA× High-profile stock market investors, including billionaire Rakesh Jhunjhunwala and Ramesh Damani, have approached market regulator SEBI to ‘settle’ an insider-trading case where they are currently being probed, sources in the know told BusinessLine. The case relates to trading in the shares of Aptech Computers in 2016. Others being probed in the matter, and who have also sought to settle the matter with SEBI, include Jhunjhunwala’s brother Rajesh Kumar a chartered accountant, wife Rekha, and mother-in-law Sushiladevi Gupta. Ushma Sheth, who is the sister of Utpal Sheth, CEO of Jhunjhunwala’s flagship investment company Rare Enterprises, and Madhu Vadera Jayakumar, a board member of Aptech, have also sought settle the issue.