SEBI fines three Titan employees for violating insider trading rules

The markets regulator Sebi fined three Titan Company Ltd employees on Monday for violating insider trading rules.

Titan had sent the regulator a letter in which it stated that some of its designated persons/employees had violated the Prevention of Insider Trading (PIT) regulations and the company’s code of conduct for the prevention of insider trading.

Following that, the regulator conducted an investigation in Titan’s scrip and discovered several non-compliances with PIT Regulations by employees and designated persons between April 2018 and March 2019.

According to three separate orders, the 3 employees are A Rathinappan, Murugan M, and K Nagabushana.

During their employment with Titan, they transacted in Titan securities but failed to make the required disclosures to the firm as required by PIT standards.

The disclosure requirements were triggered because the transaction value exceeded Rs 10 lakh.

They violated PIT standards by failing to make required disclosures, according to three orders issued by the regulator.

As a result, Sebi imposed a Rs 1 lakh fine on each of them in separate orders.

Click on the below link to Download the Order