The And Exchange Board Of India

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INTRODUCTION

“Greed, for lack of a better word, is good. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit,” said Gordon Gecko, a character in the 1987 film, “Wall Street” . Greed forms the foundation of capitalism, which is based on a laissez-faire economy. Greed is the natural desire for humans to try to accumulate as much as possible for oneself.
Foreign investors have always steered "as far as possible" from the Indian stock market . The simple reason for this is that India is plagued by various scams, controversies, and allegations of insider trading that have not satisfactorily been acted upon.
The Securities and Exchange Board of India (“SEBI”) has been in existence since 1988, and assigned
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Here, an “insider” (otherwise referred to as a “connected person”) is anyone who has access to information relating to the working of the company which has not yet been released to the public at large. This person could be a director of the company, a high ranking official, or anybody who has a working relationship with the company and can be expected to possess classified information in this regard. The term “unpublished price sensitive information” refers to anything not known to the general public, knowledge of which – if published – is likely to affect the securities of that company. This could include the financial records of the company, information relating to mergers and acquisitions, proceedings against members of the company, or any other similar information.
Note, the term “published” here does not necessarily mean that the information must be furnished by the company. It can be made known to the public at large from any source. For example, if the director of a company is under criminal investigation, but this has not yet been intimated to the public, then for an official in the same company to deal in shares of that company with this knowledge in mind and with the intention of
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