Insider-trading in deeper investigation

Securities and Exchange Board of India (Sebi) will look into all transactions — sale and purchase — made by employees of Satyam Computers over a longer period of time.

Securities and Exchange Board of India (Sebi) will look into all transactions — sale and purchase — made by employees of Satyam Computers over a longer period of time. If it is established that the transactions were a result of them being privy to insider information, action will be taken against them.

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“We will not only look into the transactions done over the past two to three months but will look into it over a significant period of time,” a senior Sebi official told Hindustan Times. “Even though the events took place on December 16 and January 7, the transactions would have been happening over a period of time and we will look into it.”

Sebi is also investigating the sale of 40,000 shares of Satyam by the newly appointed CEO, AS Murty, on December 12,15 and 16.

“If it is proved that Murty was privy to information that led to his stake sale, he will face the same consequence as it is applicable to anyone else,” the official said.