Tagged “insider-trading”

SEBI v. Rashmi Saluja (Religare): insider trading disgorgement of ₹1.99 crore and the open-offer UPSI window

SEBI Whole-Time Member Kamlesh C. Varshney finds the former Executive Chairperson of Religare Enterprises guilty of insider trading in REL shares sold 21-22 September 2023 in possession of UPSI of the Burman Group's 25 September 2023 open offer; orders ₹1.99 crore disgorgement with 12% interest, ₹40 lakh penalty, and a two-year market-access restraint.