InvestorQ : What is the WhatsApp leak case in the capital markets case and has SEBI completed the investigation?
Mary Joseph made post

What is the WhatsApp leak case in the capital markets case and has SEBI completed the investigation?

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sara Kunju answered.
4 months ago
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SEBI has penalized one individual, Neeraj Kumar Agarwal, who worked for Antique and IDFC, for releasing unpublished price sensitive information related to financial results of Asian Paints through WhatsApp messages. This had become a major controversy as the information had been leaked prior to the official announcement by the company. SEBI imposed a penalty of Rs.15 lakh on Neeraj Kumar Agarwal. Earlier, Shruti Meghani Vora in the institutional team of Antique Stock broking had also been penalized for the same reason of circulating unpublished information pertaining to Asian Paints. The circulation of privileged information to clients (heard on street) has also happened in the case of Ambuja Cements). This was based on a detailed analysis of the WhatsApp chat records and the trade action following that. SEBI found that in all financial information of 12 companies were leaked through WhatsApp messages. The only link between both the accused in the above case appears to be that both have worked at Karvy Stock Broking Ltd more than a decade ago. Karvy Stock Broking Ltd is currently under trading ban on the NSE and the BSE for illegally selling client shares to raise funds for broking shortfalls.

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Roshni Hegde answered.
4 months ago
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Capital markets regulator SEBI slapped Rs 15 lakh fine on Aditya Omprakash Gaggar in regards to WhatsApp leak case which was under investigation between January 2016 and February 2016.

SEBI penalized him for circulating unpublished price sensitive information of Bata India Lt's financial results via WhatsApp messages prior to the official announcement.

As per the reports, seizure operation for 26 entities for WhatsApp groups was conducted, and about 190 devices, records, among others, were seized.

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