Latest news with #ProhibitionofInsiderTrading
Business Upturn
12-06-2025
- Business
- Business Upturn
Why Tanla Platforms shares jump 12% sharply today? Details here
By Aman Shukla Published on June 12, 2025, 09:36 IST Tanla Platforms' stock surged more than 12% on June 12, 2025, after the company announced that its board of directors will meet on June 16 to consider a proposal for a share buyback. This marks the company's third buyback initiative in the past five years, signaling continued efforts to enhance shareholder value. As of 9:34 AM, the shares were trading 11.88% higher at Rs 696.65. The sharp rally follows an already positive trend in the stock, which has gained 25.8% over the past month, recovering from a year-to-date decline of 17.09%. The buyback proposal has boosted investor sentiment, with expectations of improved earnings per share and strengthened market confidence. Tanla has also announced the closure of its trading window for insiders until June 18, 2025, in accordance with SEBI's Prohibition of Insider Trading regulations. This move reflects the company's adherence to governance norms and highlights the importance of the upcoming board decision. Tanla Platforms shares opened at ₹670.10 and touched a high of ₹696.90 in early trade on June 12, 2025. Currently trading well above its 52-week low of ₹409.35, Tanla remains below its 52-week high of ₹1,086.45, offering potential upside. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
06-06-2025
- Business
- Time of India
Freeze order escalates: Sebi locks Mehul Choksi's accounts to recover Rs 2.1 crore; insider trading case triggered crackdown
In a bid to enforce a penalty issued over insider trading violations, Sebi has initiated recovery proceedings against fugitive businessman Mehul Choksi by freezing his financial assets, including bank, demat, and mutual fund accounts. The markets regulator issued attachment instructions on June 4 after Choksi failed to clear dues worth Rs 2.1 crore, despite a demand notice served on May 15. The dues stem from a January 2022 Sebi order that found Choksi guilty of sharing unpublished price-sensitive information in connection with trading in Gitanjali Gems shares. According to PTI, Choksi had been warned of asset seizure if the amount wasn't paid within 15 days. The outstanding sum includes a Rs 1.5 crore fine and Rs 60 lakh in interest. Choksi, who was then the chairman, managing director, and part of the promoter group of Gitanjali Gems, is currently facing extradition proceedings after being arrested in Belgium earlier this year. He had been residing in Antigua since fleeing India in 2018 following the Punjab National Bank (PNB) loan fraud, which allegedly involved over Rs 14,000 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Nirav Modi, his nephew, is also a key accused in the case and is jailed in the UK. Sebi's attachment order directed banks, depositories CDSL and NSDL, and mutual funds to prohibit any debits from Choksi's accounts, while allowing credits. Lockers and all associated accounts have also been brought under attachment. The regulator said it acted to prevent any delay or obstruction in realising the dues. In its earlier order, Sebi had found that Choksi passed sensitive company information to Rakesh Girdharlal Gajera, who offloaded his 5.75% stake in Gitanjali Gems in December 2017 to avoid losses ahead of the public fallout from fraudulent letters of undertaking (LoUs) issued by Gitanjali Group-linked entities. 'Noticee no. 1 (Choksi) was found to have communicated UPSI to Noticee no. 2 (Gajera) without any underlying legal obligation or any legitimate purpose,' the Sebi order stated. The regulator had barred Choksi from the securities market for one year and declared that both he and Gajera had violated insider trading norms under the Prohibition of Insider Trading (PIT) rules. In a separate matter, Sebi had also issued a notice in May 2023 directing Choksi to pay Rs 5.35 crore over fraudulent trading practices involving Gitanjali Gems. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
25-05-2025
- Business
- Business Standard
Delayed disclosures of accounting lapses by IndusInd Bank catch Sebi eye
The Securities and Exchange Board of India (Sebi) is probing whether there were delays in disclosures of discrepancies in derivatives accounting and lapses by IndusInd Bank and its then management, according to people aware of the development. While the capital markets regulator is investigating alleged insider-trading violations, it is also reviewing documents and data for any possible violations of the Sebi (Listing Obligations and Disclosure Requirements) Regulations (LODR). The market regulator recently sought the forensic report from the bank, which it is analysing along with emails and other data to probe any violations, said sources. 'Along with possible Sebi (Prohibition of Insider Trading) Regulations violations, the regulator is verifying if the disclosures under LODR on these discrepancies were required much earlier, as the officials may have been aware of these lapses,' said a person privy to the information. In the alleged insider trading matter, the market regulator is looking into whether the officials traded their shares while being aware of the lapses. While an earlier probe into the trades done by the then managing director (MD) and chief executive officer (CEO) and deputy CEO showed that the trades were disclosed, it is now to be verified if the trades were done while having access to unpublished price-sensitive information. Stock exchange disclosures show that between May 2023 and June 2024, IndusInd's then MD and CEO Sumant Kathpalia offloaded nearly 950,000 shares, worth around ₹134 crore, while deputy CEO Arun Khurana sold 550,000 shares, valued at ₹82 crore. These shares were acquired through the bank's employee stock ownership plan. Emailed queries sent to Sebi and IndusInd remained unanswered till the time of going to press. Last week, speaking on the sidelines of an event in Delhi, Sebi Chairman Tuhin Kanta Pandey observed that while the Reserve Bank of India was looking into the matter, the market regulator was checking if there were any 'egregious violations' by anyone. On March 10, the private-sector bank disclosed a review by an external agency of discrepancies in its account balances relating to its derivatives portfolio. The bank said its detailed internal review had estimated an adverse impact of roughly 2.35 per cent of its net worth as of December 2024. On Wednesday, IndusInd reported a net loss of ₹2,329 crore in Q4FY25, its worst quarterly loss ever, as it substantially ramped up provisions and reversed incorrectly booked revenue and income entries worth over ₹2,500 crore linked to accounting discrepancies in the derivatives and microfinance segments discovered during the quarter. The bank said that its board suspected a 'fraud may have been committed against the bank involving certain employees having a significant role in accounting and financial reporting'. IndusInd added that it had taken necessary steps, including reporting to regulatory and investigative authorities.
Business Standard
21-05-2025
- Business
- Business Standard
Laxmi Dental Ltd
Board Meeting Intimation for Consideration And Approval Of Audited Financial Results (Standalone And Consolidated) For The Quarter And Financial Year Ended March 31 2025. Laxmi Dental Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 26/05/2025 inter alia to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Financial Year ended March 31 2025. Further pursuant to the provisions of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations 2015 and in terms of the Code of Conduct for Prevention of Insider Trading of the Company the trading window for dealing in securities of the Company which was closed from April 01 2025 for all the designated persons and their immediate relatives shall re-open after the expiry of 48 hours from the date of declaration of the said financial results.
Mint
21-05-2025
- Business
- Mint
Small-cap stock under ₹50: Bhatia Comms sets date to declare Q4 results 2025, final dividend for FY25
Small-cap stock under ₹ 50: Bhatia Communications and Retail (India) Ltd announced on Wednesday, May 21, that the company will conduct its board meeting on Monday, May 26, to consider and approve its January-March quarter results for fiscal 2024-25 (Q4FY25). The small-cap firm will also declare a final dividend for FY25 on the same day at its board meeting. "….We wish to inform you that a Meeting of the Board of Directors of the company is scheduled to be held on Monday, 26th May, 2025 at 03.00 P.M. at the Registered Office of the company situated at 132, Dr. Ambedkar Shopping Centre, Ring Road, Surat-395002 inter alia to transact the following businesses: 1. To consider and approve the standalone audited financial results along with audit report thereon for the quarter and year ended on 31st March, 2025. 2. To consider and recommend final dividend, if any, on the equity shares of the company for the financial year 2024-25. Further, it is stated that pursuant to the Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of trading by insiders in respect of securities of the company and pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time, the Trading Window for dealing in the equity shares of the company is already closed for the directors, officers, designated employees, immediate relatives of respective persons covered under the said policy of the company from 01st April, 2025 till 48 hours after the declaration of audited financial results of the Company for the quarter and year ended on 31st March, 2025.
