“After taking into consideration all the facts and circumstances of the case... impose a penalty of Rs 5 lakh on the noticee (G Jayaraman) in terms of Section 15 HB of the SEBI Act...,” Securities and Exchange Board of India said in an order.
Section 15 HB states that “whoever fails to comply with any provision of this Act, the rules or the regulations made or directions issued by the board... shall be liable to a penalty which may extend to one crore rupees”. Jayaraman has been directed to submit the penalty amount within 45 days.
Sebi had conducted an investigation pertaining to issues relating to insider trading in Satyam scrip in 2008-09.
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