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May 22, 2015
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Sebi charges Murugappa Group chief, 3 others with insider trading
The Securities and Exchange Board of India (Sebi) on Thursday charged A Vellayan, chairman of the Murugappa Group, and three others with insider trading.In an eight-page order, the regulator alleged Vellayan had passed price-sensitive information pertaining to the acquisition of Sabero Organic Gujarat by Coromandel International, a Murugappa Group entity. It directed V Karuppiah, A R Murugappan and other entities to surrender unlawful gains made by trading in Sabero shares. The order said the regulator would impound gains worth Rs 2.15 crore, including interest of 12 per cent a year since 2011, from these entities.
Source -
http://www.business-standard.com
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