17 December 2010
Dear Experts Request you to please solve the respective query:-
If the non-executive director of a listed company buy shares of the listed company in which he is a non-executive director, in the name of another private limited company in which also he is a director. Then will notice of buying the respective shares will go to SEBI or any other regulatory authorities as per SEBI Guidelines or not, so that this case is not covered in insider trading.??
19 December 2010
It would depend on case to case basis. Questions like the status of the companies involved vis-a-vis the promoter group status, status of non-executive director etc have to be considered.
CAclubindia
