INSUBCONTINENT EXCLUSIVE:
SEBI has confirmed its ban on five persons for insider trading in Zee Entertainment's scripMarket Regulator Securities and Exchange Board of
Ritolia and Daljit Chawla are restrained from buying, selling or dealing in securities, either directly or indirectly, in any manner
whatsoever until further orders," SEBI said in its 43-page confirmatory order.However, they have been allowed to buy and sell units of
mutual funds.The regulator said a detailed investigation in the matter is in progress which may bring out additional roles of omission or
to the other entities who are not covered in the interim order but against whom the interim order has been passed.The latest direction comes
after the watchdog, through an interim in August, barred 15 entities, including these five individuals, from the securities markets for
indulging in insider trading in the shares of Zee.The regulator had found that a group of connected or related entities had taken long
position in the shares in the cash and derivatives segments.Following the announcement of first quarter results of FY 2020, the entities had
squared off the long positions and generated huge profits.
