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Sebi revokes penal order against 7 in MCX insider trading case

On August 2 last year, Sebi's then whole-time member S Raman had held 13 former top MCX officials and its erstwhile promoter guilty of insider trading

SEBI
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Photo: Reuters

Dilip Kumar Jha Mumbai
The Securities and Exchange Board of India (Sebi) has revoked its last year’s interim order against seven individuals in an insider trading case pertaining to share trading of the Multi Commodity Exchange of India (MCX).

The markets regulator found no violation of insider trading guidelines by the “seven notices”. A few of them were also denied cross-examination opportunities, it observed.

Sebi whole-time member Madhabi Puri Buch on Friday revoked the order against Joseph Massey, former managing director (MD) of MCX; Shreekant Javalgekar, former MD of MCX; Anjani Sinha, former MD of NSEL; and four others — Asha Javalgekar, Paras Ajmera, Tejal Shah,

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