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SEBI penalized an individual for possessing unpublished information concerning Manappuram Finance Ltd. The accused goes by the name of Pankaj Agarwal, who was working in the Research department of Ambit Capital Private Limited. He was fined Rs. 15 Lakh as a penalty.
Pankaj Agarwal had met Sachin and Unnikrishnan of MFL. It was during this time he was able to get unpublished price sensitive information (UPSI) of the quarterly results of the country. Later he released this sensitive information in the form of a research report, which is in violation of insider trading rules.
Manappuram Finance case: SEBI imposes penalties for Insider trading
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