Insider Trades in Companies Shares Not Induced by UPSI – Rigor of PIT Regulation 2015

Shreehas P Tambe Vs. SEBI (Securities Appellate Tribunal); Appeal No. 491 of 2021;26/07/2022

KEY MESSAGE

Insider despite having unpublished price sensitive information (UPSI) of the Company can afford to sell his shares in the company for meeting his financial commitment of bona fide purpose and such sale proceeds are immediately used as such where due care has been taken to obtain the pre-clearance sale from the Company would get protected under t

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