The Securities and Exchange Board of India (Sebi) has slapped a fine of Rs 5 lakh each on former Tata Finance Ltd (TFL) managing director Dilip Pendse, his wife Anuradha Pendse and firm Nalini Properties Ltd for insider trading in shares of TFL in March 2001. | |
| Anuradha Pendse and Nalini Properties, had sold shares of TFL on 28 March 2001, based on an unpublished price sensitive information related to TFL's financial positions, which was not in public domain. |
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| The unpublished price sensitive information was provided to them by Dilip Pendse, who at that point of time was the managing director of TFL, a Sebi order said. |
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| Anuradha Pendse and Nalini Properties sold total of 40,000 shares on 28 and 30 March 2001 at a rate of Rs 90 per share and made "unjust profits" on account of sale, Sebi said it its order. |
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| Sebi has also slapped a Rs 20 lakh fine on Mathew Easow, a well-known TV guest analyst on stocks, for "misguiding" investors by recommending certain stocks, where he is found to have sold substantial quantities immediately after giving the tips. |
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