This follows Sebi revoking interim orders against seven individuals earlier this month, including these four, after alleged violation of some other provision of insider trading rules could not be proved.
These four individuals are former NSEL CEO Anjani Sinha, ex-director Paras Ajmera, Tejal Shah (FTIL director and relative of Jignesh Shah) and Mehmood Vaid (a senior vice president at FTIL).
It was alleged that these individuals before the outbreak of National Spot Exchange Ltd (NSEL) irregularities avoided losses by selling shares of MCX between October 2012 and June 2013 while in possession of unpublished price sensitive information (UPSI) about NSEL and therefore violated insider trading regulations.
In four separate orders passed today, Sebi said that its whole-time member (WTM) through a separate proceeding on January 5 held that these four former officials did not trade in the shares of MCX while in possession of UPSI and the violation of insider trading regulations could not proved against them.
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"I have also gone through the charges levelled against the noticee (these four former officials) in the SCN (show cause notice) which have arisen out of the same set of facts identical to that of in the WTM order and I do not find any reason to disagree with the view taken by the WTM about the periodicity of UPSI.
Accordingly, the regulator has disposed of show cause notices issued against these individuals.
The Securities and Exchange Board of India (Sebi) had issued show cause notices to these individuals in December last year as to "why an enquiry should not be initiated and penalty be not imposed" for the alleged violations of provisions of insider trading regulations.
Earlier this month, the regulator had revoked its directions against seven former officials of MCX as alleged violation of insider trading rules by them could not be established.