The market regulator SEBI has barred Alchemy Capital's co-founder Lashit Sanghvi and his wife Neha Sanghvi from the securities market for a year in the alleged insider trading case involving the shares of Aptech.

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Both Sanghvi and his wife have even been banned from trading the shares of Aptech for two years and imposed a fine of ₹25 lakh. They are also ordered to disgorge a total profit of about ₹1 crore along with 9 percent interest since 2016.

In the Aptech case, SEBI issued show cause notices to Sanghvis in October 2020 based on an investigation conducted by it pertaining to trading in the shares of Aptech for the period of March 14, 2016, to September 7, 2016.

The regulator had alleged that information pertaining to the company's foray into the preschool segment envisaged as the business expansion was unpublished price-sensitive information before it was released to stock exchanges.

(Edited by : Sangam Singh)

First Published:Mar 2, 2023 9:18 AM IST