Securities and Exchange Board of India has imposed a penalty of over Rs 22 crore on Aurobindo Pharma and its promoters. They have been penalised for violating insider trading norms.
The regulator had conducted an investigation into the trading in the scrip of Aurobindo Pharma Ltd. SEBI found that these entities purchased shares while in possession of the UPSI pertaining to Aurobindo, and made unlawful gains from having purchased its shares at a lower price before the publication of the unpublished price sensitive information (UPSI).
Static/Current Takeaways Important For IBPS RRB PO Mains:
- Headquarter of SEBI: Mumbai; Chairperson: Ajay Tyagi.
Source: The Hindu