Rakesh Jhuhunwala along with others have settled the Aptech Insider Trading case with the Securities and Exchange Board of India (SEBI) . The total settlement was of Rs 37 crore out of which Jhuhunwala paid Rs 9.50 crore as settlement charges, disgorgement of ill-gotten gains and interest charges.
The case pertains to using unpublished price sensitive information (UPSI) for trades on shares of Aptech Ltd. In September 2016 Aptech had forayed into preschool segment, the allegation was that Jhunjhunwalal and others traded based on this information prior to announcement.
Jhunjhunwala currently holds a 24.24 percent stake in Aptech, which is valued at Rs 160 crore.
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