Sebi imposes Rs 3.40-cr fine on Exelon Infrastructure, 27 entities

Markets regulator Sebi Monday slapped a fine of Rs 3.40 crore on Exelon Infrastructure and 27 other entities, including promoters and directors, for indulging in fraudulent trading and violating insider trading norms.

Of the total penalty, the firm has been fined Rs 1.19 crore and the 27 entities have been penalised in the range of Rs 1 lakh to Rs 25 lakh.

The order follows the regulator’s investigation from December 2010 to January 2012 observing abnormal price movement in the scrip created by positive corporate announcement by the firm.

Sebi found that the company’s announcement to raise Rs 200 crore through global depository receipts (GDR), public issue and preferential issue as well as its plans to enter into power sector led to increase in the share price.

Securities and Exchange Board of India ( SEBI )