{"id":17289,"date":"2022-01-20T21:06:31","date_gmt":"2022-01-20T15:36:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-sebi-ufo-moviez\/"},"modified":"2022-01-20T21:06:31","modified_gmt":"2022-01-20T15:36:31","slug":"biz-sebi-ufo-moviez","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-ufo-moviez\/","title":{"rendered":"Insider trading: Former independent director of UFO Moviez India pays Rs 21 lakh to settle case with Sebi"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1052064734\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 20 (PTI) A former independent director of UFO Moviez India Ltd on Thursday settled a case of alleged insider trading with markets regulator Sebi by paying over Rs 21 lakh.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3273230174\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The amount includes settlement charges, disgorgement of illegal gains and interest amount.<\/p>\n<p> S Madhavan was alleged to have traded in the scrip of the firm while in possession of price sensitive information.<\/p>\n<p> This information pertained to a composite scheme of arrangement and amalgamation between UFO Moviez India Limited and Qube Cinema Technologies Pvt Ltd.<\/p><div class=\"trade-content_5\" id=\"trade-3586726559\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Madhavan, by virtue of being the independent director of the company, came into possession of the price sensitive information and traded in the scrip, Sebi noted.<\/p>\n<p> He allegedly violated Prohibition of Insider Trading norms.<\/p>\n<p> Pending the proceedings, he filed a settlement application with the regulator proposing to settle the case, without admitting or denying guilt.<\/p>\n<p> On considering the settlement terms, a high powered advisory committee of Sebi recommended the case for settlement upon payment of Rs 19.12 lakh as settlement amount, Rs 1.59 lakh as disgorgement amount along with interest of Rs 76,140.<\/p>\n<p> The amount was remitted by the applicant in December 2021, Sebi noted.<\/p>\n<p> As per another order, Ajit Khandelwal has paid Rs 9.3 lakh as settlement charges to settle a case of alleged disclosure lapses in a matter pertaining to acquisition of shares of BNK Capital Markets.<\/p><div class=\"trade-content-10\" id=\"trade-1475134322\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Khandelwal had acquired 11.53 per cent shares of BNK Capital Markets Ltd on June 20, 2014 which was required to be disclosed within 2 working days of the transaction, in terms of the Substantial Acquisition of Shares and Takeovers norms.<\/p>\n<p> However, the disclosure was made with a delay.<\/p>\n<p> Thereafter, Sebi had issued a notice to him, intimating that the proceedings which are to be initiated may be settled and disposed of upon filing of a settlement application along with remittance of the settlement amount of Rs 9.30 lakh, if the applicant so desired.<\/p>\n<p> The amount was remitted by him in November 2021. PTI SRS  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-1833374899\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 20 (PTI) A former independent director of UFO Moviez India Ltd on Thursday settled a case of alleged insider trading with markets regulator Sebi by paying over Rs 21 lakh. The amount includes settlement charges, disgorgement of illegal gains and interest amount. S Madhavan was alleged to have traded in the scrip [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-17289","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insider trading: Former independent director of UFO Moviez India pays Rs 21 lakh to settle case with Sebi - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-sebi-ufo-moviez\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insider trading: Former independent director of UFO Moviez India pays Rs 21 lakh to settle case with Sebi\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 20 (PTI) A former independent director of UFO Moviez India Ltd on Thursday settled a case of alleged insider trading with markets regulator Sebi by paying over Rs 21 lakh. 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