Sebi Cracks Down on Insider Trading: Heavy Penalties for Jagsonpal Pharmaceuticals Share Dealings

Sebi has imposed penalties on Maneesh Kumar Jain and S V Subha Rao for insider trading involving Jagsonpal Pharmaceuticals shares. Jain was fined Rs 15 lakh and directed to return Rs 31.39 lakh with interest. Rao, the former CFO of JPL, has been fined Rs 10 lakh.

Securities and Exchange Board of India (Sebi) has taken strict action against two individuals for insider trading related to Jagsonpal Pharmaceuticals shares.

Maneesh Kumar Jain received a Rs 15 lakh fine and must return Rs 31.39 lakh plus interest, while former JPL CFO S V Subha Rao was fined Rs 10 lakh.

This enforcement follows an NSE analysis which identified suspicious trading patterns, prompting a Sebi investigation covering December 2021 to March 2022.

(With inputs from agencies.)