https://www.taxtmi.com/caselaws?id=314265 A tentative board resolution to examine restructuring options, including a possible de-merger or split, was held not to be price sensitive information because it reflected only an exploratory evaluation and no definite change in policy, plan or operations. On that basis, trades made during the relevant period could not be treated as insider trading. The orders against Prannoy Roy and Radhika Roy based on the same information were unsustainable, as the alleged window-closure breach lost significance once the information was found not price sensitive and pre-trade clearance had been granted. The separate issue concerning PSI-3 was not finally affirmed and was remitted for fresh decision. en-us Thu, 05 Oct 2023 00:00:00 +0530 Wed, 29 May 2024 08:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314265 A tentative board resolution to examine restructuring options, including a possible de-merger or split, was held not to be price sensitive information because it reflected only an exploratory evaluation and no definite change in policy, plan or operations. On that basis, trades made during the relevant period could not be treated as insider trading. The orders against Prannoy Roy and Radhika Roy based on the same information were unsustainable, as the alleged window-closure breach lost significance once the information was found not price sensitive and pre-trade clearance had been granted. The separate issue concerning PSI-3 was not finally affirmed and was remitted for fresh decision. Case-Laws SEBI Thu, 05 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314265