Sebi Settlement: Trading Scandal on Zee Business Channel Resolved

Ten entities have resolved a case of insider trading involving Zee Business Channel with Sebi, paying Rs 5.96 crore. The settlement includes a six-month voluntary ban on securities trading. The entities neither admitted nor denied allegations but agreed to terms, avoiding further action unless breaches occur.

In a significant development, ten entities have reached a settlement with the Securities and Exchange Board of India (Sebi) over allegations of insider trading linked to Zee Business Channel. They collectively paid Rs 5.96 crore to resolve the case, which involved the use of non-public information from guest experts for trading purposes.

The settlement agreement includes a six-month voluntary debarment from engaging in buying, selling, or dealing in securities. Notably, the entities managed to settle the matter without admitting or denying the allegations, as part of the settlement terms provided by Sebi.

Sebi's investigation initially identified 15 entities as allegedly involved in trading based on insider information during February 2022 to December 2022. Of these, 10 entities agreed to the settlement, which ensures no further regulatory action will be pursued unless the terms are violated. The involved parties have already paid Rs 7.41 crore in disgorgement fees.

(With inputs from agencies.)