After the formal announcement ,press articles mentioned that Subject of wide speculation by the market and the media. HLL contended that before the transaction ,the merger was the HLL appealed against the SEBI verdict to the Union Ministry of 34 million in compensation, andĪlso initiated criminal proceedings against the five directors of Shock waves through the country’s corporate order. In March 1998, SEBI passes an executive order, which sent Information to trade, and was therefore guilty of insider SEBI held that HLL was using unpublished price-sensitive Just two weeks before the formal announcement knowing that Share (At a premium of 9.5% of ruling market price of Rs.320) HLL bought 8 lakh shares of BBLIL from UTI at Rs.350.35 per Using Unpublished Price-Sensitive Information. In August 1997, SEBI charged HLL of insider trading by SEBI, suspecting insider trading, conducted enquiries. Lipton India Limited (BBLIL)and Securities
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