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What is insider trading and other rules under which SEBI will probe allegations?

Hindenburg Research released a report on the Indian conglomerate Adani, on January 24, 2023, which has caused their securities to become extremely volatile.

The opposition parties asked for a JPC to be setup to investigate the alleged anomalies.

SEBI has stated that it would enquire into market activities to detect if there were violations of its regulations.

The provisions under which the market regulator is reviewing the alleged anomalies include Prohibition of Fraudulent and Unfair Trade Practices Regulations, 2003 etc.

Insider trading is the trading in a stock or other securities by employees who have access to some relevant information relating to the company which is not readily accessible to the public.

FPI consists of securities and other financial assets held by investors from abroad.

ODI are investment vehicles that are issued by FPI to overseas investors for an exposure in Indian equities or equity derivatives without being registered as an FPI.

SEBI has framed a regulatory framework, that stipulates the hedging positions foreign investors can take on these derivative instruments, and the eligibility criteria of subscribers of these instruments.

Famous insider trading convict is Rajat Kumar Gupta, who was the first Indian managing director of McKinsey & Company between 1994 to 2003.

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Adani-Hindenburg saga: What is insider trading and other rules under which SEBI will probe allegations?

The markets regulator said it will review the alleged frauds committed in Adani’s group companies under the provisions of insider trading, fraudulent and unfair trade practices, FPI regulations and offshore derivative instruments

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