SEBI fines Titan Company employee

Mumbai: The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 2 lakh on an employee of Titan Company, Theekevedu B. Alexander, for violating insider trading norms in 2018.

The investigation by the capital markets regulator found that the designated employee of the company and his spouse had traded in the scrip of Titan when the trading window was closed, in violation of SEBI (PIT) Regulations, 2015.

Alexander had traded on two trading days during the period from 23 September to 12 November, 2018 — a period during which the trading window was closed.

The noticee will have to pay the said amount of penalty within 45 days of receipt of the order.

 

NT Bureau