Individual settles case with Sebi in Crisil matter, pays Rs 26 lakh

Markets regulator Sebi has settled a case of alleged insider trading by an individual after paying over Rs 26 lakh towards settlement charges in the matter of Crisil Ltd.

Besides, individual Priyanka Pathak disgorged illegal gains worth Rs 7.92 lakh along with an interest of Rs 5.15 lakh, Sebi said.

In an order, the regulator said it conducted probe regarding the corporate announcement of voluntary open offer for acquisition of up to 1.56 crore equity shares of Crisil Ltd from public shareholders by McGraw-Hill Asian Holdings (Singapore) along with its persons acting in concert (PACs) on June 3, 2013.

The probe observed that Pathak had purchased the shares of Crisil during the period when price-sensitive information was not public (May 1, 2013 to June 2, 2013) and sold the same immediately on the date of corporate announcement.

By doing so, Pathak made profit of 7.84 lakh and thereby "prima-facie" violated insider trading norms, Sebi said.

While the proceedings were pending, Pathak ...