Settlement with SEBI: Deloitte India's Insider Trading Case Resolved

Two individuals, including a former employee of Deloitte India, settled a case with capital markets regulator SEBI over alleged insider trading violations by paying a settlement fee of Rs 74 lakh. The case involved access to sensitive merger information about HDFC and HDFC Bank between November 2021 and April 2022.

In a recent development, two individuals, including a former employee of Deloitte India, have settled a case with the Securities and Exchange Board of India (SEBI) concerning alleged insider trading violations. The settlement involved a payment of Rs 74 lakh.

The case centered around Nimai Parekh and Rahil Dalal, who faced allegations of accessing sensitive information related to the HDFC and HDFC Bank merger announcement. SEBI's investigation spanned from November 2021 to April 2022, uncovering potential breaches of insider trading regulations.

Parekh, linked through his role at Deloitte, allegedly shared confidential merger information with Dalal, who further disseminated it. Upon receiving a settlement application, SEBI's High Powered Advisory Committee endorsed the revised terms, leading to a resolution through a joint payment from Parekh and Dalal.

(With inputs from agencies.)