Sebi seeks show-cause from PC Jewellers 'insiders', asks for list of assets

The regulator said that the order itself should be considered as a notice by the identified insiders

The Securities and Exchange Board of India (Sebi) has passed an order in the PC Jewellers insider trading case, demanding show-cause from those whom it identified to have benefitted from price-sensitive information pertaining to the company’s buyback announcement and its subsequent withdrawal. It also ordered impounding Rs 8 crore from the alleged insiders.

The order names Shivani Gupta (daughter-in-law of PC Jeweller Chairman Padam Chand Gupta), Padam’s son and Shivan's husband Sachin Gupta, Shivani's brother-in-law Amit Garg, and Quick Developers (QDPL), where Garg was earlier a director.

The order stated QDPL had used the derivative instruments to benefit from the unpublished price-sensitive