10 people, including well-known investor Rakesh Jhunjhunwala, fined Rs 37 crore

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New Delhi, July 15, 2021

SEBI has slapped a fine of Rs 37 crore on 10 people, including stock market giant Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala.

He was charged with insider trading in 2016. In this case, SEBI has been found to have compounded the case by imposing a fine of Rs 37 crore as settlement fee.

There were 10 promoters, including Jhunjhunwala, in an education company called Aptech. Jhunjhunwala was accused of insider trading in shares of the company, prompting an investigation by Sebi.

It was alleged that in 2016, Aptech had announced a shift in the pre-school segment and Utpal Seth and Rakesh Jhunjhunwala were already aware of this and some others were aware of it. , Rajesh Jhunjhunwala, Sushila Devi Gupta, Sudha Gupta and Ushma Sethe bought shares of Aptech.

However, in this case, Rakesh Jhunjhunwala now has to pay a fine of Rs 18 crore and his wife Rs 3.2 crore to SEBI and others have a total fine of Rs 37 crore. Earlier, Jhunjhunwala's family had appealed to SEBI to settle the matter.

Jhunjhunwala family members have a 49 per cent stake in Aptech.


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