0654-2022 Sudhir Bapusaheb Devkar vs Securities and Exchange Board of India and Another
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Full text
Regulation 7(2) of the Insider Trading Regulations requires every promoter, employee and director to make disclosures to the listed company (and onward by the listed company to the stock exchange(s) if thresholds therein are met. Such requirement results in every employee of the listed company (including those who cannot be expected to be in possession of UPSI based on their role / function) to make disclosures under this regulation. This puts undue burden on the listed company, it employee and compliance officers, particularly where the company has hundreds or thousands of employ
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
Date of Decision : 10.10.2022 Appeal No. 654 of 2022 Sudhir Bapusaheb Devkar Flat A206, Kamalraj Parijat, Dighi-Alandi Road, Dighi, Pune 411015.
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