SEBI fines Piramals for flouting insider trading norms
Market regulator Securities and Exchange Board of India (SEBI) has fined Piramal Enterprises and its four promoters, including Chairman Ajay Piramal, for violating insider trading norms. The issue pertains to the selling of Piramal's healthcare business to Abbott in 2010 for a consideration of $3.72 billion. The five parties have been asked to pay a sum of ₹6 lakh. 