SEBI adjudicating officer imposes ₹1 lakh penalty each on two Jindal Steel designated persons for insider trading violations.
Noticees traded during closed window period and without mandatory pre-clearance for trades exceeding threshold limits.
Violations occurred around June 2023 quarterly results announcement which showed 78.87% profit decline.
Both individuals claimed lack of intent and medical hardships but penalties were upheld under strict liability.