Two decades have passed since the SEBI (Prohibition of Insider Trading) Regulations, 1992 were notified which was framed to deter the practice of insider trading in the securities of listed companies. Since then there have been several amendments to the Regulations and judicial paradigm through case laws have also evolved in India. In fact, world over, the regulatory focus is shifting towards containing the rising menace of insider trading effectively. To ensure that the regulatory framework dealing with insider trading in India is further strengthened, SEBI seeks review of the extant Insider Trading Regulatory regime in India.
Accordingly, SEBI has constituted a High Level Committee under the Chairmanship of Hon’ble Justice Mr. N. K. Sodhi, retired Chief Justice of Karnataka High Court and Former Presiding officer of the Securities Appellate Tribunal, for reviewing the SEBI (Prohibition of Insider Trading) Regulations, 1992.
The other members of the High Level Committee are as under:-
- Shri Darius Khambata, Advocate General of Maharashtra – Member
- Shri Rajeev Luthra, Managing Partner, Luthra & Luthra Law Offices – Member
- Shri K. Venkataramanan, CEO & MD, L&T – Member
- Smt. Arundhati Bhattacharya, MD& CEO, SBI Capital Markets Ltd– Member
- Shri Nirmal Jain, Chairman and MD, India Infoline Ltd. – Member
- Shri Motilal Oswal, Chairman & MD, Motilal Oswal Financial Services – Member
- Shri Milind Barve, Chairman, AMFI & MD, HDFC AMC Ltd. – Member
- Shri Rashesh Shah, Chairman & CEO, Edelweiss Group – Member
- Shri Deepak Kumar Chatterjee, MD & CEO, SBI Mutual Fund – Member
- Shri Mobis Philipose, Columnist, Mint, HT Media Limited – Member
- Smt. Menaka Doshi, Journalist, CNBC TV 18 – Member
- Shri A. P. Bakliwal, The Bombay Shareholders™ Association – Member
- Shri S. Ramann, Executive Director (Surveillance), SEBI – Member
- Shri R. K. Padmanabhan, Executive Director (Investigations), SEBI – Member
- Shri J. Ranganayakulu, Executive Director (Law), SEBI – Member Secretary
Mumbai
March 05, 2013
