TaxTMI 
TaxTMI 
Trading when in possession of unpublished price sensitive information
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....ted on a stock exchange when in possession of unpublished price sensitive information: 1[Explanation- When a person who has traded in securities has been in possession of unpublished price sensitive information, his trades would be presumed to have been motivated by the knowledge and awareness of such information in his possession;] Provided that the insider may prove his innocence by demonstrat....
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....the transaction was carried out through the block deal window mechanism between persons who were in possession of the unpublished price sensitive information without being in breach of regulation 3 and both parties had made a conscious and informed trade decision; Provided that such unpublished price sensitive information was not obtained by either person under sub-regulation (3) of regulation 3....
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....s are not violated and no unpublished price sensitive information was communicated by the individuals possessing the information to the individuals taking trading decisions and there is no evidence of such arrangements having been breached; 6[(vi)] the trades were pursuant to a trading plan set up in accordance with regulation 5. NOTE: When a person who has traded in securities has been in pos....
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....sion of unpublished price sensitive information, shall be on such connected persons and in other cases, the onus would be on the Board. (3) The Board may specify such standards and requirements, from time to time, as it may deem necessary for the purpose of these regulations. ************** NOTES:- 1. Inserted vide SEBI/LAD-NRO/GN/2018/59 Dated 31-12-2018 w.e.f. 01-04-2019 2. Substituted vi....