Capital markets regulator Sebi on Tuesday levied a fine of Rs 25 lakh on two individuals for indulging in insider trading in the shares of Nucleus Software Exports Ltd.
The order came after an investigation by the Securities and Exchange Board of India (Sebi) into trading undertaken by Anupam Gupta in the scrip of Nucleus during the period from March 1, 2023, to June 16, 2023.
Sebi noted that Nitin Kumar Garg was employed by Nucleus as the Project Manager, Global Customer Services Team during the investigation period. Also, Garg and Anupam Gupta were connected as they are cousins, as per the order.
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