Mumbai19 hours ago
- copy link
- Jhunjhunwala’s wife, brother and relatives involved in insider trading
- According to Forbes report, Jhunjhunwala’s net worth is $3.3 billion.
Rakesh Jhunjhunwala, the country’s largest investor in the stock market, and nine others have entered into a settlement with SEBI in the matter of insider trading in Aptech Shares. Under this, these people have paid Rs 37 crore as settlement charge.
Jhunjhunwala donated Rs 18.48 crore
In this, Rakesh Jhunjhunwala has paid the highest settlement charge of Rs 18.48 crore while his wife Rekha Jhunjhunwala has paid Rs 3.19 crore. Rakesh’s brother Rajesh Jhunjhunwala paid Rs 2.46 crore, sister Sudha Gupta Rs 1.02 crore, mother-in-law Sushila Gupta Rs 1.63 crore and Ramesh Damani Rs 6.21 crore. The insider trading case at Aptech is 5 years old.
case of 2016
Rakesh Jhunjhunwala is accused of insider trading in Aptech shares between May and October 2016. SEBI was probing the same matter. Jhunjhunwala and his family hold 49% in Aptech. It is the only company in his portfolio of hundreds of shares in which he has an ownership stake. He had bought shares in this company for the first time in 2005 at a price of Rs 56. On Thursday, the stock was trading at Rs 257 with a gain of 5.50%. At present, the value of his Aptech shares is Rs 421 crore.
Sheth is a member of the Aptech board
Utpal Sheth is a board member of Aptech. Sheth is the Chief Financial Officer at Jhunjhunwala’s company Rare. Jhunjhunwala has already settled in the case of a company named Geometric. According to sources, Jhunjhunwala had planned an out-of-court settlement in February this year. For this, he had filed a consent application. Consent application means settlement with the regulator. In this case, SEBI had issued a show cause notice to Rakesh Jhunjhunwala some time back. After this, the matter of settlement has been made.
According to Forbes report, Jhunjhunwala’s net worth is $3.3 billion. They are the largest individual investors in the country. He also produced the film English Vinglish. Jhunjhunwala’s father has been an officer of the Income Tax Department. They
secret notifications of base On business To insider trading say Huh
Insider trading means buying or selling of shares based on secret information related to the company. Do you have a stake in that company or you are associated with that company. You have information on the basis of which you cannot buy or sell shares. The regulator of the stock market is SEBI. Rakesh Jhunjhunwala is called the Warren Buffet of India. They are the biggest investors in the market.