Sebi finds Divis Lab CFO, son, 6 others guilty of insider trading; fines them Rs 97 lakh
Updated : July 02, 2020 01:40 PM IST
Kishore’s son Praveen had bought 28,000 shares of Divis and 28,000 futures of the stock—both through Kotak Securities—on July 7.
All eight persons have been collectively asked to pay Rs 97 lakh as penalty; this includes around Rs 74 lakh of illegal gains and the rest as interest from July 2017 till date.
Sebi says that the unpublished price sensitive information (UPSI) came into existence on July 7 when Kiran Divi, a director of the company, received an e-mail from the company’s legal department, on the import alert being lifted.