Insider trading case: Sebi gives interim relief to Murugappa executive chairman A Vellayan
The Securities and Exchange Board of India (SEBI) has given interim relief to Murugappa Group executive chairman A Vellayan and three others in an insider trading case involving shares of Sabero Organics GujaratBSE -1.55 %.
Market regulators said it will re-investigate the alleged insider trading case, stating that a “deeper examination” is warranted.
In May 2015, SEBI had charged Vellayan, along with AR Murugappan, Gopalakrishnan and V Karuppiah with insider trading.
SEBI had alleged that Vellayan had passed on unpublished price sensitive information pertaining to the acquisition of Sabero Organic.
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