Key Points
Mumbai: Punit Goenka, the managing director and chief executive of Zee Entertainment Enterprises Ltd, has settled an insider trading case with Securities and Exchange Board of India by paying 50.7 lakh, the media entertainment company said on Thursday...
In August 2021, the capital market regulator had issued an order against entities for carrying out insider trading activities in the shares of Zee Entertainment following the launch of rent-a-movie service, ZEEPLEX, in September 2020..
In its investigation, Sebi had found some unpublished and price-sensitive information" which were not declared by the media company..
Essentially, price-sensitive information refers to information that should not be available in public domain, such as financials, dividends, mergers and demergers, business plan, acquisitions or change in capital structure, and if accessed, can influence the price of a companys securities..
Sebi said information related to the launch of ZEEPLEX was a positive development about the companys expansion plans, announced during covid and was price sensitive information under the Prohibition of Insider Trading Regulations..
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