 "sebi")
The Securities and Exchange Board of India (Sebi) on Monday proposed a mechanism to formalise the process of receiving information from whistle-blowers who expose insider trading violations. It also suggested measures to protect and award such informants.
The monetary reward would be considered under certain conditions. For instance, the monies disgorged should be at least Rs 5 crore.
"The total amount of monetary reward shall be 10 per cent of the monies collected but shall not exceed Rs 1 crore or such higher amount as may be specified," Sebi said.
"An interim reward not exceeding Rs 10 lakh may be given at the
