Sebi fines Telesys Info-Infra Rs 1.5L

In its order dated October 10,Sebi slapped a penalty of Rs 1.50 lakh on Telesys Info-Infra for failing to make disclosures under the regulator’s norms on insider trading.

The market regulator said it has imposed the penalty on Telesys Info-Infra (I) Ltd for “its failure to make disclosure under Regulation 13 (3) of Sebi (Prohibition of Insider Trading) Regulations,1992”.

As per norms,any person who holds more than five per cent shares in a listed company has to make disclosures whenever there are changes in shareholding.

An investigation conducted by Sebi found that Telesys Info-Infra held 11.83 per cent stake in Asia HR Technologies as on September ending 2010.

The entity disposed of its entire shareholding between December 27,2010 to February 11,2011 but necessary disclosures related to the same were not made.

Regulations also require that disclosures have to be made within two working days from the date of transaction.