Videocon case: Venugopal Dhoot, two entities fined
New Delhi, September 28
Markets regulator SEBI on Tuesday imposed fines totalling Rs 75 lakh on industrialist Venugopal Dhoot and two other entities for insider trading activities in the shares of Videocon Industries.
Besides Dhoot, who was the managing director of the company, the watchdog has slapped penalties on the company’s two promoters — Videocon Realty and Infrastructures Ltd and Electroparts (India) Pvt Ltd. Electroparts was earlier known as Shree Dhoot Trading and Agencies. The violations of insider trading norms happened in 2017.
“Noticees being insiders had executed off market transactions while in possession of Unpublished Price Sensitive Information (UPSI),” SEBI said.
Investigation in the scrip of Videocon was carried out between April and September 2017. — PTI
