Free Press Journal

Tata Motors told to probe results leak


New Delhi : Markets regulator Sebi on Tuesday directed Tata Motors to conduct an internal inquiry into leakage of unpublished price sensitive information related to its quarterly financial results through WhatsApp.

Tata Motors is the third Sensex company related to whom the regulator has passed an order in the high-profile case of leakage of sensitive financial details prior to formal announcement of quarterly results.

Sebi said that prima facie appears that the financial results of Tata Motors for the December 2015 quarter were finalised on or before February 9, 2016, which was before circulation of WhatsApp message on February 11, 2016. It is observed that the financial figures pertaining to the results of Tata Motors were matching with the figures that were in circulation prior to its official announcement by the company.