You are here: Home » PTI Stories » National » News
Business Standard

Sebi slaps Rs 4 lakh fine on former ING Vysya Bank official

Press Trust of India  |  New Delhi 

Markets regulator today imposed a penalty of Rs 4 lakh on a former of ING Vysya for disclosure lapses.

The order has come following an inspection conducted by the Securities and Exchange Board of (Sebi) of trading in the of for the period from August 2011 to May 2013.

Upon inspection of the trading details of Gargi Dash, the then head of retail of the bank, observed that she had sold of value exceeding Rs 5 lakh each on three occasions -- November 2, 2012, January 31, 2013 and March 28, 2013.

Dash had contended that she was not an of ING Vysya However, noting that Dash held a "position of responsibility" with an authority to give directions to certain other employees, said she was an of the bank.

Since Dash was an officer, she was required to make disclosures to and regarding change in shareholding upon selling the within two working days from the date of the transactions in accordance with the PIT (Prohibition of Insider Trading) Regulations.

However, Dash failed to make the disclosures to the bank as well as BSE, thereby violating PIT Regulations.

For the violation, Sebi has imposed a penalty of Rs 4 lakh on Dash.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 12 2018. 20:35 IST