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Whether Mr. Rakesh Agrawal is guilty of Insider trading?


To improve the present regulatory framework for the capital market, SEBI amended the 1992 rules with the 2015 SEBI PIT Regulations. Regulations 3 and 4 of the 2015 PIT Regulations govern the disclosure of Unpublished Price Sensitive Information ("UPSI") and trading while in possession of UPSI, respectively. UPSI refers to any non-public information on a firm or its securities, such as financial statements, dividends, changes in capital structure, mergers, de-mergers, acquisitions, delisting, etc., that, upon becoming public, is expected to substantially alter the price of the shares.

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