 "Abhay Bhutada, Poonawalla Finance")
Abhay Bhutada has been reinstated as managing director of Poonawalla Fincorp Ltd after its board found that an independent probe did not find evidence of him sharing any Unpublished Price Sensitive information with a third party.
On September 16, 2021 Bhutada had resigned from the post after the Securities and Exchange Board of India (Sebi) barred him from accessing the securities market for allegedly insider trading in shares of PFL.
PFL, erstwhile Magma Fincorp Ltd, in filing with BSE said while there was no regulatory requirement for him to step down, he had voluntarily stepped down to comply with the high governance
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