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Sebi levies fine on 3 Titan employees for violating insider trading norms

Markets regulator Sebi on Monday imposed monetary penalty on three employees of Titan Company Ltd for violating insider trading norms

SEBI | Titan Company

Press Trust of India  |  New Delhi 


regulator on Monday imposed monetary penalty on three employees of Ltd for violating norms.

The regulator had received a letter from Titan wherein it intimated about violation of Prevention of (PIT) regulations and the company's code of conduct for the prevention of by some of its designated persons/employees.

Thereafter, the regulator conducted an investigation in the scrip of Titan and observed several non-compliances with PIT Regulations during the period April 2018-March 2019 by employees and designated persons.

A Rathinappan, Murugan M and K Nagabushana were among such employees, as per three separate orders.

During their employment with Titan, they had transacted in securities of Titan but failed to make requisite disclosures to the firm as required under PIT norms.

The disclosure requirements were triggered on account of the transactions exceeding Rs 10 lakh traded value.

By failing to make requisite disclosures, they have violated PIT norms, the regulator noted in three orders.

Consequently, has levied a fine of Rs 1 lakh each on them through separate orders.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, October 25 2021. 18:38 IST