ABB India Faces SEBI's Insider Trading Warning
ABB India received a warning letter from SEBI on November 14, 2024, regarding insider trading violations by two employees. The letter, dated November 8, 2024, was issued for contraventions of SEBI (Prohibition of Insider Trading) Regulations, 2015. ABB is a global leader in electrification and automation.
- Country:
- India
ABB India has been cautioned by the Securities and Exchange Board of India (SEBI) for breaching insider trading regulations. The warning came through a letter dated November 8, 2024, which the company acknowledged receiving on November 14, 2024.
The exchange filing revealed that two employees of ABB India were involved in this breach. The company's Company Secretary was directly addressed by SEBI's Deputy General Manager in the warning letter regarding the violation of SEBI's 2015 Insider Trading Regulations.
ABB, recognized globally as a leader in electrification and automation, is now under scrutiny due to this latest regulatory warning, raising concerns about corporate governance and compliance within the organization.
(With inputs from agencies.)
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