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SEBI - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Offence under SEBI ACT - Insider trading - the information ...


Insider Trading Allegation Under SEBI Act: Sale of GIPL Shares Deemed Distress Sale, Not Insider Trading Violation.

September 24, 2022

Case Laws     SEBI     SC

Offence under SEBI ACT - Insider trading - the information regarding the termination of the two contracts can be characterised as price sensitive information, in that it was likely to place the existing shareholders in an advantageous position, once the information came into the public domain - the sale by the respondent, of the shares held by him in GIPL would not fall within the mischief of insider trading, as it was somewhat similar to a distress sale, made before the information could have a positive impact on the price of the shares. - SC

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