Sebi imposes Rs 22.7 crore fine on Aurobindo Pharma for insider tradin

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Sebi imposes Rs 22.7 crore fine on Aurobindo Pharma for insider trading

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BUSINESS STANDARD Sebi imposes Rs 22.7 crore fine on Aurobindo Pharma for insider trading The order said that the penalty amount will be paid within 45 days of receipt of this orde The Securities Exchange Board of India SEBI has imposed penalties of Rs 22.7 crore on Aurobindo Pharma its related entities and promoters for violating insider trading rules with

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respect to a licensing deal it had entered with Pfizer in 2009. The order from SEBI on Monday stated that the penalties were imposed under Section 15G and Section 15HB read with Section 15J of the SEBI Act.According to the order a penalty of Rs 5 crore was imposed on P V Ramprasad Reddy Rs 2 crore on P Suneeta Rani Rs 10 lakh on Kambam P Reddy Rs 6 crore on Trident Chemphar Ltd Rs 10 lakh on Veritaz Health Care Ltd Rs 7.5 crore on Top Class Capital Markets Pvt Ltd and Rs 2 crore on Aurobindo Pharma Ltd under Section 23E of Securities Contracts Regulation Act and Section 15HB of SEBI Act. Read More

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