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What is insider dealing and related laws?
01-May-2023 (In Documentation Law)
Please tell me what is insider dealing and law relating to it in India?
Insider trading is defined as a malpractice wherein trade of a company's securities is undertaken by people who by virtue of their work have access to the otherwise non public information which can be crucial for making investment decisions The Securities and Exchange Board of India (SEBI) panel, headed by former chief justice of India N. K. Sodhi, has suggested that trades by promoters, employees, directors and their immediate relatives would need to be disclosed internally to the company.
The panel on insider trading also recommended that trades within a calendar quarter of a value beyond Rs. 10 lakh (or such other amount as the capital market regulator may specify) would be required to be disclosed to the stock exchanges. Code of fair disclosure �??Every entity that has issued securities which are listed on a stock exchange or which are intended to be listed would be required to formulate and publish a code of fair disclosure governing disclosure of events and circumstances that would impact price discovery of its securities,�?� said SEBI
The panel on insider trading also recommended that trades within a calendar quarter of a value beyond Rs. 10 lakh (or such other amount as the capital market regulator may specify) would be required to be disclosed to the stock exchanges. Code of fair disclosure �??Every entity that has issued securities which are listed on a stock exchange or which are intended to be listed would be required to formulate and publish a code of fair disclosure governing disclosure of events and circumstances that would impact price discovery of its securities,�?� said SEBI
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Adv. Siddhant Sharma
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