Balram Garg v. Securities and Exchange Board of India

Mon, 01 Jan 0001 00:00:00 +0000

Background

This dispute originated from an investigation conducted by the Securities and Exchange Board of India (SEBI) into an alleged insider trading in the shares of PC Jeweller Ltd. (PCJ). SEBI’s Whole Time Member (WTM) alleged that the appellants: Sachin Gupta, Shivani Gupta, Amit Garg, and Quick Developers Pvt. Ltd, traded while in possession of Unpublished Price Sensitive Information (UPSI) regarding a proposed share buy-back and its subsequent withdrawal. The core of the allegation was that the appellants had obtained this UPSI from the company’s Managing Director (MD), Balram Garg, and the late Chairman, P.C. Gupta, due to their familial proximity and shared residential premises.

Prohibition of Insider Trading on Vipan Kumar, PhD

Balram Garg v. Securities and Exchange Board of India