Mumbai: On January 31, 2025, the Securities and Exchange Board of India (SEBI) issued an order regarding insider trading activities involving certain entities, including Keyur Maniar, in the scrip of Infosys Limited. This order imposed a debarment on Maniar’s trading activities due to the alleged illegal gains earned through insider trading.
Recent Developments
However, in a recent update, the Hon’ble Securities Appellate Tribunal (SAT) passed an order on March 5, 2025, staying the SEBI’s order from January 31, 2025. The stay was granted after Keyur Maniar deposited the illegal gains amounting to 2.62 crores. As a result, the debarment imposed on him has been temporarily lifted.
SEBI’s Directive
Following SAT's ruling, SEBI, in an email, directed the Market Infrastructure Institutions (MIIs) to remove the debarment on Keyur Maniar’s PAN-AEHPM2560E. The order highlights that trading members must comply with these directions promptly to avoid any regulatory issues.
SEBI's direction follows the SAT's decision, offering temporary relief to Keyur Maniar by lifting the trading debarment after the return of the illegal profits. This update requires compliance from all trading members.
