labels: investment - general, sebi
Rathi not guilty of insider trading: Sebinews
Our Correspondent
04 October 2001

Mumbai: Anand Rathi has been found not guilty of insider trading, according to enquiries conducted by the Securit ies and Exchange Board of India (Sebi).

Reports have suggested that investigations by Sebis enquiry officer Piyush Gupta have shown no evidence of any kind of insider trading by Rathi and his broking firms - Anand Rathi Securities, Rathi Global and Rathi Finance.

Rathi, however, has been found guilty of having violated the code of conduct of stock brokers regulations, as he solicited price sensitive information from the exchanges surveillance department. Therefore, Sebi has recommended that Rathi be banned from partaking any trading activity for a period of two years.

Already all his three firms have remained suspended from doing any business for a period of nine months beginning 12 March 2001. Sources indicated that Rathi is likely to appeal against the order.

Sebi has also cleared another firm, Navratan Capital and Securities Pvt Ltd, of having indulged in any kind of undesirable activity. The firm is said to be owned by Pradeep Gupta, son-in-law of Rathi, and is perceived to have no business connections whatsoever with Rathi and/or his companies.




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Rathi not guilty of insider trading: Sebi