Piramal Ex-MD Settles Insider Trading Case with SEBI

Piramal Capital Housing Finance's former MD Khushru Jijina, along with his wife Benaifer and their firm Greatdeal Finconsult, settled an insider trading case with SEBI. They paid Rs 43.55 crore in settlement charges, including unlawful gains and interest. The firm will abstain from the securities market voluntarily for six months.

Piramal Capital Housing Finance's former Managing Director, Khushru Jijina, along with his wife Benaifer and their firm Greatdeal Finconsult, has settled an insider trading case with the Securities and Exchange Board of India (SEBI). The settlement involved paying Rs 43.55 crore in charges.

The case pertains to alleged violations of insider trading norms by the Jijinas and their firm. They were accused of trading in the shares of Piramal Enterprises Ltd while in possession of unpublished price-sensitive information (UPSI).

As part of the settlement, Greatdeal Finconsult has committed to abstaining from the securities market for six months. SEBI's investigation revealed that unlawful gains of Rs 15.32 crore were made through such trades. The matter has now been resolved without any admission or denial of guilt by the parties involved.

(With inputs from agencies.)