‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInThe $2.6-billion Rakesh Jhunjhunwala, called the ‘Warren Buffett of India’, has to protect an image that was built over 35 long years
Jhunjhunwala and four of his family members were called in for questioning by the Securities and Exchange Board of India (SEBI) for alleged insider trading in Aptech, a technology education firm where they hold 49% stake since 2005. via The $2.6-billion Rakesh Jhunjhunwala, called the ‘Warren Buffett of India’, has to protect an image that […]
Satyam case: Supreme Court acquits Srini Raju in Satyam Case – The Economic Times
In a major relief to the venture capitalist Srini Raju of Peepul Capital, the Supreme Court on Monday exonerated him in the more than a decade-old fraud at Satyam Computer pertaining to charges of insider trading, possessing price-sensitive information. via Satyam case: Supreme Court acquits Srini Raju in Satyam Case – The Economic Times.
Insider Trading: Sebi order kicks off storm; social media links can’t prove insider trading – The Economic Times
A ruling by markets regulator Securities and Exchange Board of India (Sebi) indicting Rupesh Kantilal Savla and Sujay Ajitkumar for insider trading has laid unusual emphasis on social media contacts, sparking a debate on the ubiquitous digital platforms. via Insider Trading: Sebi order kicks off storm; social media links can’t prove insider trading – The […]
Satyam case: Price Waterhouse gets 2-year ban in Satyam case – The Economic Times
India’s capital market regulator has banned global auditing firm Price Waterhouse (PW) from auditing listed companies in India for two years for its alleged role of collusion with the directors and employees of erstwhile Satyam Computer Services in perpetrating the country’s biggest corporate accounting scandal. via Satyam case: Price Waterhouse gets 2-year ban in Satyam […]
Will Wal-Mart change India? – The FCPA Blog – The FCPA Blog
Of the four BRIC nations, all but one have enacted major anti-corruption reforms in the last several years. When will India step up? And might Wal-Mart help? via Will Wal-Mart change India? – The FCPA Blog
‘Laws of the Land’ Finally Catching Up to Former Satyam CEO, Part III | Compliance Week
Yesterday in Hyperabad, India, B. Ramalinga Raju, former chairman and CEO of Satyam Computer Services, was found guilty and sentenced to seven years in prison for his role in “India’s Enron” — a $1 billion accounting fraud that was revealed in 2009. via ‘Laws of the Land’ Finally Catching Up to Former Satyam CEO, Part […]
SEBI approves new regulations to deter insider trading in securities | NetIndian
The Securities and Exchange Board of India (SEBI) today approved new regulations in place of the SEBI (Prohibition of Insider Trading) Regulations, 1992 designed to deter the practice of insider trading in the securities of listed companies. The new regulations, approved by the SEBI Board which met here today, will be in place of the […]
India: Sebi to tighten insider trading norms to curb menace | Daily News & Analysis
“We are revising our prevention of insider trading regulations because we have discovered cases… Unfortunately the cases are not just from small companies but also from big ones,” Sebi Chairman UK Sinha said. Emphasising that Sebi was “going to tighten the norms about insider trading regulations”, Sinha said, “I am sure insider trading as an […]
Sebi to act tough in high-profile insider trading cases – The Economic Times
To send across a strong message to manipulators, capital market regulator Sebi is mulling over ways for more stringent enforcement actions in cases of high- profile and glaring violations of insider trading norms. A revision of nearly two-decade old set of insider trading regulations is currently underway and the new norms are expected to be […]
‘Laws of the Land’ Finally Catching Up to Former Satyam CEO Raju – Compliance Week
In January 2009, Satyam CEO B. Ramalinga Raju admitted that he had falsified the company’s financial records in a $1 billion fraud. Five years later, India’s SEBI has finally ordered Raju to disgorge $307 million, and a verdict in his criminal case is expected by the end of the month. via ‘Laws of the Land’ […]