Disclosure of price-sensitive info: Sebi examining relation between Tata Sons & companies
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MUMBAI: The Securities and Exchange Board of India (Sebi) is doing a preliminary examination of the arrangement between Tata Sons and group companies to understand whether it is in consonance with current insider-trading regulations.
Sebi is also examining whether price-sensitive information was disclosed to Tata Sons directors and Tata Trusts nominees before it was approved by the boards of operating companies.
“We are taking note of the events unfolding at Tata companies and examining whether there has been any securities law violations,” said a senior Sebi official. He declined to elaborate further but added that the regulator will make up its mind in the next few days.
A Tata Group spokesperson, replying to an ET questionnaire, said the group has a view on the subject and it will convey it to Sebi. He declined to elaborate.
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