Satyam staff fined Rs 5 lakh for insider trading
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Sebi has imposed a penalty of Rs 5 lakh on G Jayaraman, compliance officer of erstwhile Satyam Computer alleging violation of insider trading rules. Sebi conducted an investigation relating to insider trading in shares of Satyam in 2008-09.
It revealed that company's announcement on December 16, 2008 to acquire Maytas Infra and Maytas Properties, subsequent withdrawal of the said proposal and the confessions made by Ramalinga Raju, the then chairman of Satyam on January 7, 2009 was pricesensitive information. (Economic Times)
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