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Radico Khaitan's former legal head and compliance officer fined Rs 5 lakh for violating insider-trading norms

Money ControlMoney Control · 9m
Radico Khaitan's former legal head and compliance officer fined Rs 5 lakh for violating insider-trading norms

Amit Manchanda, the former Vice President-Legal and Compliance Officer of Radico Khaitan, has been fined Rs 5 lakh for insider trading violations. The Securities and Exchange Board of India (SEBI) found that Manchanda failed in his responsibility to monitor trades and administer the Prevention of Insider Trading (PIT) Regulations effectively within the company. The order noted that the company has taken remedial and punitive measures, including imposing monetary penalties and debarment from the securities market, on the individuals involved. However, Manchanda's claims of misinterpretation of regulations and the impact of the Covid-19 pandemic were deemed unacceptable by SEBI.

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