[Insider-trading] Supreme Court sets aside SEBI, SAT order in PC Jewellers case

The top court took objection to SAT concluding on mere “preponderance of probability” that it was the Managing Director and his brother who communicated price sensitive information though there was no direct evidence.
Supreme Court
Supreme Court

The Supreme Court on Tuesday set aside orders of the Securities and Exchange Board of India (SEBI) and the Securities Appellate Tribunal (SAT) that held the Managing Director of PC Jewellers and some of his relatives guilty of insider-trading [Balram Garg and Shivani Gupta vs SEBI].

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