https://www.taxtmi.com/caselaws?id=283814 A connected person functioning as Managing Director was held to be an insider who dealt in securities while unpublished price sensitive information about Bayer's 51% partnership in ABS remained undisclosed, because the purchases were arranged and funded before the information became public and a claimed corporate purpose did not remove the regulatory bar. The direction to deposit funds as compensation was set aside because the show-cause notice had not specifically proposed that relief, the appellant lacked a proper opportunity to meet the quantification, and no unfair advantage was shown on the facts. The separate directions for adjudication and prosecution were left undisturbed. en-us Mon, 03 Nov 2003 00:00:00 +0530 Mon, 14 Oct 2019 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283814 A connected person functioning as Managing Director was held to be an insider who dealt in securities while unpublished price sensitive information about Bayer's 51% partnership in ABS remained undisclosed, because the purchases were arranged and funded before the information became public and a claimed corporate purpose did not remove the regulatory bar. The direction to deposit funds as compensation was set aside because the show-cause notice had not specifically proposed that relief, the appellant lacked a proper opportunity to meet the quantification, and no unfair advantage was shown on the facts. The separate directions for adjudication and prosecution were left undisturbed. Case-Laws SEBI Mon, 03 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283814