SEBI fines Venugopal Dhoot from Videocon, two more for insider trading
- ByManjeet Singh | September 29, 2021
Venugopal Dhoot and two of Videocon Industries’ investment firms were fined Rs 75 lakh by the markets regulator SEBI for pledging Videocom shares without adequate notice to shareholders and for engaging in off-market transactions. These entities violated Sebi rules between April and September 2017, according to the case.
SEBI’s order revealed that, despite receiving several warnings, Dhoot failed to respond to the warnings or appear before the regulator’s adjudication officer for the case.
Dhoot, the main promoter of the company, was also its president and CEO. Additionally, two other entities are named in the order: Videocon Realty & Infrastructures, and Electroparts (India), previously known as Shree Dhoot Trading & Agencies.
Separately, SEBI announced it has approved a range of new measures, including frameworks for gold, social stock exchanges, and silver ETFs. In addition, the SEBI Board approved a proposal to amend the de-listing framework after an open offer. It will help to make the mergers and acquisitions (M&A) process easier.
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