Promoter Resolves Insider Trading Case with Significant Settlement

Ruchi Gupta, a promoter of Bansal Wire Industries, settled an insider trading case by paying a total of Rs 41.41 lakh. This includes a settlement sum and a disgorgement amount. Gupta's application to Sebi under settlement rules led to a resolution without admitting or denying the allegations.

Ruchi Gupta, a prominent promoter of Bansal Wire Industries, has resolved an insider trading allegation by paying Rs 16.89 lakh towards the settlement. Additionally, Gupta disbursed Rs 24.52 lakh for disgorgement, with a 12 percent interest covering the period from July 15 to September 3, 2024.

Gupta, closely connected to the company's MD and CEO Pranav Bansal, submitted a suo-motu application under Sebi's settlement regulations. Through this application, she aimed to conclude any potential enforcement proceedings linked to alleged insider trading violations without conceding to the findings.

The Securities and Exchange Board of India (Sebi) confirmed the settlement but retains the authority to take action if misrepresentation is identified or settlement terms are breached. The settlement was finalized after approval from Sebi's High Powered Advisory Committee.

(With inputs from agencies.)