Insider trading: SAT sets aside Sebi’s order in WhatsApp leak case

In the high profile WhatsApp case, the Securities Appellate Tribunal (SAT) has set aside Sebi’s insider trading charges against few individuals, who circulated alleged unpublished price sensitive information about the financial results of half-a-dozen companies.

The case pertains to the circulation of Unpublished Price Sensitive Information (UPSI) in various private WhatsApp groups about certain companies, including Bajaj Auto, Bata India, Ambuja Cements, Asian Paints, Wipro and Mindtree, ahead of their official announcements to the stock exchanges.

The regulator had penalised Shruti Vishal Vora for releasing UPSI-related to financial results of the six companies through WhatsApp messages prior to official announcements by these companies.