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Sebi has barred three individuals from the securities market for two years and imposed penalty totalling Rs 90 lakh on them in a case pertaining to insider trading activities in the scrip of Zee Entertainment Enterprises Ltd (ZEEL).
The three individuals banned by the regulator -- Bijal Shah, Gopal Ritolia and Jatin Chawla -- have also been directed to pay the fine within 45 days.
In addition, Ritolia and Chawla have been directed to disgorge illegal gains to the tune of Rs 7.52 crore and Rs 2.09 crore respectively along with interest, the regulator said in its 152-page final order on Friday.
The case relates to insider trading activities by certain entities in the scrip of ZEEL, while in possession of unpublished price sensitive information (UPSI) pertaining to audited financial results of the media company for the quarter ended June 30, 2020 as well as launch of ZEEPLEX by the company on September 1, 2020.
Bijal Shah, who was head of the financial planning and analysis, strategy 

Sebi

Press Trust of India

March collection is the second highest ever

GST, IGST, CGST, GSTN

Business Standard

The National Company Law Tribunal approved the plan for the Adani Group subsidiary to pay 14.85 billion rupees ($181 million) to financial creditors, the company said in a statement Saturday

Adani

Bloomberg

Two contradictory court judgments this week raise an uncomfortable question: Has the judiciary, from the trial court to the Supreme Court, moved from a reformative institution to a retributive one?

Supreme Court

Here is the best of Business Standard's opinion pieces for today

Financial sector, bank crisis, bank collapse

The Apple WWDC23 returns in online format, but there is also a special in-person experience planned at Apple Park in Cupertino for developers and students on the opening day

Apple WWDC23

This year's conference will be held as an "all-day experience" at headquarters in Cupertino, California

The former Mastercard Inc. chief executive was tapped by President Joe Biden last month after current president David Malpass announced plans to step down almost a year early

Ajay Banga, Banga

Part of his reasoning was that consumers could not fully benefit from input price declines as Big 5 companies control manufacturing of all major sectors as well as retail trade and telecommunications

Viral Acharya

Convergence of external and internal elements affords country a lifetime opportunity, writes Mayank Dhaundiyal

Mayank Dhaundiyal

AstraZeneca's Covid vaccine (manufactured and administered in India as Covishield) raised the risk of heart problem, and death by 3.5 times in young women in the first three months following

Covid vaccines

IANS

Mehta was seen entering the SFIO office before 11 AM

Of the 47 firms that together raised Rs 551 bn through QIPs in FY18 - the highest ever in financial year - eight PSBs, which have raised a combined Rs 271 bn, are now valued 21% lower at Rs 213 bn

Fitch has a BBB-, the lowest investment grade sovereign rating on India, with a stable outlook

Citibank's new home loan will be benchmarked to the three-month treasury-bill rate

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Rs 127-bn scam: PNB MD Sunil Mehta appears before SFIO to record statement

30 of 47 firms that raised funds via QIP are trading below issue prices

India pitching for sovereign rating upgrade to Fitch: FinMin official

Citibank launches home loan product linked to an external benchmark

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Sebi bans 3 people for 2 yrs; fines Rs 90 lakh in ZEEL insider trading case

India's Goods and Services Tax mop-up crosses Rs 18 trillion in FY23

Adani Ports and SEZ Ltd completes acquisition of Karaikkal Port

Reformative to retributive justice

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