SEBI probes Rakesh Jhunjhunwala for alleged insider-trading.
Insider Edge: Markets regulator SEBI is probing billionaire investor Rakesh Jhunjhunwala and his family members, in a case of alleged insider-trading in the shares of Aptech, an education firm owned by him and his family.
In 2005, Jhunjhunwala had first picked up a 10% stake in Aptech at ?56 per share. He gradually raised his holding. On September 7th, 2016, shares of Aptech hit the upper circuit at ?175.05 after the investor’s brother and wife bought 763,057 shares in the IT firm through block deals. Hindu BusinessLine
Extra Crunch: This Livemint report tracks how SEBI fares in cracking down on insider trading cases, what it looks for when investigating these cases and how regulations evolved in the past.
Hand-curated Business News from Top Publishers & Platforms, Richly Crafted to Fit into One Wholesome Email. Subscribe Now to receive a nuanced 360 Degree account of key events from the World of Business and Finance every day.