https://www.taxtmi.com/caselaws?id=469181 Regulation 4(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 raises a presumption against trading while in possession of unpublished price sensitive information, but its proviso is inclusive and permits an insider to rebut that presumption with bona fide surrounding circumstances beyond the listed illustrations. Pre-clearance, an open trading window, and use of sale proceeds for a residential flat purchase were treated as relevant circumstances showing legitimate purpose and no insider trading. A separate disclosure lapse under Regulation 7(2)(a), where trades were not reported within two days, remained independently established and attracted sustained penalty. en-us Tue, 26 Jul 2022 00:00:00 +0530 Mon, 08 Jun 2026 17:02:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469181 Regulation 4(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 raises a presumption against trading while in possession of unpublished price sensitive information, but its proviso is inclusive and permits an insider to rebut that presumption with bona fide surrounding circumstances beyond the listed illustrations. Pre-clearance, an open trading window, and use of sale proceeds for a residential flat purchase were treated as relevant circumstances showing legitimate purpose and no insider trading. A separate disclosure lapse under Regulation 7(2)(a), where trades were not reported within two days, remained independently established and attracted sustained penalty. Case-Laws SEBI Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469181