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Sebi penalizes Satyam executive for insider trading

T.A.N. Murti had unpublished data on Maytas buy, traded in Satyam shares before acquisition, says Sebi
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First Published: Sat, Dec 22 2012. 01 19 AM IST
A file photo of the Satyam Computer corporate office in Hyderabad. Photo: Mint
A file photo of the Satyam Computer corporate office in Hyderabad. Photo: Mint
Mumbai: The Securities and Exchange Board of India (Sebi) on Friday imposed a penalty of Rs.65 lakh on T.A.N. Murti, former head of investor relations at Satyam Computer Services Ltd, for insider trading in the company’s shares in 2008.
According to the capital market regulator, he was in possession of unpublished price-sensitive information on the acquisition of Maytas Infra Ltd and Maytas Property Ltd by Satyam, and traded in Satyam shares before the acquisition was announced on 16 December 2008.
The acquisition, however, was subsequently cancelled due to resistance from Satyam’s investors. Murti has been given 45 days to pay the penalty.
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First Published: Sat, Dec 22 2012. 01 19 AM IST
More Topics: Sebi | Satyam | insider trading |
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