The Securities Exchange Board of India (SEBI) has imposed penalties of Rs 22.7 crore on Aurobindo Pharma, its related entities and promoters for violating insider trading rules with respect to a licensing deal it had entered with Pfizer in 2009.
The order from SEBI on Monday stated that the penalties were imposed under Section 15G and Section 15HB read with Section 15J of the SEBI Act.
According to the order, a penalty of Rs 5 crore was imposed on P V Ramprasad Reddy, Rs 2 crore on P Suneeta Rani, Rs 10 lakh on Kambam P Reddy, Rs 6 crore on Trident Chemphar Ltd, Rs 10 lakh on Veritaz Health Care Ltd, Rs 7.5 crore on Top Class Capital Markets Pvt Ltd and Rs 2 crore on Aurobindo Pharma Ltd under Section 23E of Securities Contracts (Regulation) Act and Section 15HB of SEBI Act.
The order said that the penalty amount will be paid within 45 days of receipt of this order.
.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app