sebi:SO/GR/EFD2/2024-25/7437
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Facts / Headnote
Proceedings initiated vide Show Cause Notice dated October 10, 2023 disposed of on settlement terms
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 15G
- s. 15J
Regulations
- Reg. 10
- Reg. 25
- Reg. 28
- Reg. 15
- Reg. 4(1)
- Reg. 23
Parties
- Arun Verma
- Yamini Verma
Holding
The Show Cause Notice proceedings dated October 10, 2023 against the Applicant for suspected insider trading in the scrip of SAIL were disposed of pursuant to a settlement, with the Applicant paying a settlement amount of INR 45,50,000 and disgorgement of INR 40,09,939 along with voluntary debarment for one year.
Full text
Settlement Order in the matter of suspected insider trading activities in the scrip of SAIL Page 2 of 4 segment and options segment in the trading account of Yamini Verma and made a profit of Rs.32,15,067.50.
Settlement Order in the matter of suspected insider trading activities in the scrip of SAIL Page 3 of 4 4. Pursuant to receipt of the Settlement Application, the Authorised Representatives of the Applicant had a meeting with the Internal Committee of SEBI (hereinafter referred to as ‘IC’) on January 11, 2024, wherein the terms of settlement were deliberated. The IC considered the factors enumerated under Regulation 10 and Schedule II of the Settlement Regulations and permitted the Applicant to submit revised terms of settlement. Accordingly, the Applicant filed Revised Settlement Terms (hereinafter referred to as “RST”) vide email dated January 15, 2024 wherein the Applicant proposed the following:
Settlement Order in the matter of suspected insider trading activities in the scrip of SAIL Page 4 of 4 ORDER 7. On the basis of the aforesaid, in exercise of the powers conferred under Section 15JB read with Section 19 of the SEBI Act, 1992 and in terms of Regulations 23 read with Regulation 28 of the Settlement Regulations, it is hereby ordered that the instant proceedings initiated against the Applicant vide Show Cause Notice dated October 10, 2023 are disposed of as per the following terms:
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Source: SecMarx — sebi:SO/GR/EFD2/2024-25/7437. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.