Supreme Court of India
Securities and Exchange Board of India v. Rajeev Vasant Sheth
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the above discussion that the respondents had engaged in insider trading and, as such, had avoided approximately Rs.1.38 crores in losses.
Judgment, page 18
In brief
Tara Jewels Limited, a listed jewellery company, suffered a net loss of about Rs.166.80 crores in the quarter ending September 2017 against Rs.6.62 crores in the preceding quarter, with sales falling roughly 69%. Respondent No.1, the Chairman and Managing Director, and Respondents No.2 and 3, his daughters who were promoters and Vice Presidents, sold shares during the UPSI period of 02.10.2017 to 29.11.2017 — Respondent No.1 disposing of over 60 lakh shares and the daughters their entire holdings of 1,14,440 shares each — thereby avoiding a cumulative loss of about Rs.1.38 crores.…
Authorities it was built on
- Securities and Exchange Board of India v. Abhijit Rajan
- 2021 P. Mohanraj & Ors. v. M/s. Shah Brothers Ispat Pvt. Ltd.
- Vikram Singh v. Union of India
- 1989 Siddeshwari Cotton Mills (p) Ltd. v. Union of India & Anr.
- Rakesh Agrawal v. Securities Exchange Board of India
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