Two entities pay Rs 63 lakh to settle Varun Beverages insider trading case with Sebi
The applicants paid a total amount of Rs 63 lakh, which comprised Rs 45.5 lakh as settlement amount, Rs 11.43 lakh as disgorgement amount and Rs 5.93 lakh as interest."Pending enforcement proceedings for the alleged defaults ...are settled qua the applicants (Fenton and Singhania)," the Securities and Exchange Board of India (Sebi) said in its order.
Varun Beverages: Two entities settle insider trading case with Sebi
The regulator had conducted an investigation in the matter to ascertain whether certain entities have traded in the scrip of Varun Beverages Ltd (VBL) during the period of December 21, 2017 to January 4, 2018 on the basis of Unpublished Price Sensitive Information (UPSI) pertaining to VBL entering into strategic partnership with PepsiCo India for sale and distribution of the larger Tropicana portfolio.
Varun Jaipuria of Varun Beverages buys farmhouse at Delhi’s Westend Green for Rs 120 crore
Property experts said that more people are looking at farmhouses amid the restrictions due to Covid-19. After being stuck at home during the lockdowns, wealthy businessmen and executives are looking for large homes.
Varun Beverages' Jaipuria settles insider trading case with Sebi; pays Rs 56 lakh
It was alleged that Jaipuria had communicated unpublished price-sensitive information (UPSI) relating to a strategic partnership between Varun Beverages Ltd (VBL) and PepsiCo for selling and distribution of the larger Tropicana to two persons. Based on the information, shares of Varun Beverages, PepsiCo India's bottling partner, were traded.