Cracking down on a suspected case of corporate espionage, Delhi police has arrested five persons, including two Ministry officials and some middlemen, in connection with the alleged leak of classified government documents to private sector companies for money.
There have been reports that these leaked documents could also have been used for trading in the stock markets, although there are no official words on this.
When asked whether Sebi is looking into the matter, Sebi Chairman U K Sinha today said he does not have any specific details on the issue, but if there was any truth in the allegations, the regulator will take stern action.
Trades conducted on the basis of such confidential information, which would qualify as Unpublished Price Sensitive Information (UPSI), could amount to illegal insider trading as well as unfair and fraudulent activities.
He was speaking on the sidelines of an event organised by Sebi-promoted National Institute of Securities Management (NISM) at its upcoming campus at Patalganga near here.