SEBI Cracks Down on Insider Trading: Venugopal Dhoot and Others Sent Demand Notices

The Securities and Exchange Board of India (SEBI) has issued demand notices to industrialist Venugopal Dhoot and two other entities for insider trading activities involving Videocon Industries. SEBI has warned of arrests, asset attachments, and account seizures if the fines, amounting to nearly Rs 1.03 crore, are not paid within 15 days.

The Securities and Exchange Board of India (SEBI) has taken stringent action against industrialist Venugopal Dhoot and two other entities for insider trading violations linked to Videocon Industries.

Demand notices have been issued by SEBI, demanding almost Rs 1.03 crore in fines from Dhoot, Electroparts (India) Pvt Ltd, and Videocon Realty and Infrastructures. The regulator warned of imminent arrests, asset attachments, and bank account seizures if the fines are not paid within 15 days.

The penalties date back to violations committed in 2017, with SEBI pointing out that these entities executed trades while privy to Unpublished Price Sensitive Information (UPSI).

(With inputs from agencies.)