sebi:WTM/MPB/EFD/116/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Only Shri Joseph Massey found to have violated regulation 3(i) and 4 of the PIT Regulations, 1992 and section 12A(d) of the SEBI Act; all other Noticees absolved as they traded only after October 3, 2012 when the information became public.
Provisions invoked
- s. 11
- s. 370
- s. 12A
- s. 307
- s. 372
- s. 12
- s. 4A
- s. 32
- s. 2(13)
Regulations
- Reg. 4
- Reg. 3
- Reg. 9
- Reg. 199
- Reg. 5
- Reg. 3(i)
- Reg. 2
- Reg. 2(c)
- Reg. 6(1)
- Reg. 6(2)
- Reg. 6
- Reg. 2(e)
- Reg. 11
- Reg. 2(h)
- Reg. 2(k)
- Reg. 12
Parties
- Shri Joseph Massey
- Shri Shreekant Javalgekar
- Smt Asha Shreekant Javalgekar
- Shri Paras Ajmera
- Shri Anjani Sinha
- Smt Tejal M. Shah
- Shri Mehmood Vaid
Holding
The DCA show cause notice dated April 27, 2012 to NSEL constituted unpublished price sensitive information for MCX from April 27, 2012 until it was published in the Economic Times on October 3, 2012. Only Shri Joseph Massey, as a connected person (director of both MCX and NSEL) with access to such information, traded MCX shares during that period and thereby violated regulation 3(i) and 4 of the PIT Regulations and section 12A(d) of the SEBI Act; the remaining Noticees traded only after publication and are not liable.
Full text
___________________________________________________________________________________________________ Order in the matter of Multi Commodity Exchange of India Limited Page 2 of 58
___________________________________________________________________________________________________ Order in the matter of Multi Commodity Exchange of India Limited Page 3 of 58
___________________________________________________________________________________________________ Order in the matter of Multi Commodity Exchange of India Limited Page 4 of 58
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Source: SecMarx — sebi:WTM/MPB/EFD/116/2018. 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.