I suspect insider trading by officers of a listed company whose registered office is in Meerut; how do I file a SEBI complaint and what evidence is required?

Detailed Legal Analysis

To file a complaint regarding suspected insider trading by officers of a listed company in Meerut, you need to submit your complaint to the Securities and Exchange Board of India (SEBI) along with relevant evidence supporting your claims.

Here are the steps you should follow to file a SEBI complaint:

• Gather Evidence: Collect all relevant documentation that supports your suspicion of insider trading. This may include:
• Emails or communications indicating non-public information shared.
• Trade logs or transaction records showing suspicious trading patterns.
• Publicly available information that contradicts the trades made by the officers.
• Draft the Complaint: Prepare a formal complaint detailing the following:
• Your contact information (name, address, phone number, email).
• The name of the company involved, including its registered office address.
• A clear description of the insider trading activities you suspect.
• A list of evidence you have gathered.
• Any additional information that could help SEBI in their investigation.
• Submit the Complaint: Complaints can be submitted in the following ways:
• Online through the SEBI Complaints Redress System (SCORES) at scores.gov.in.
• By post to SEBI’s office, including all your evidence and signed complaint.
• Follow Up: After filing the complaint, you may receive a unique complaint registration number. Use this to track the status of your complaint through SCORES.

It's essential to note that insider trading is governed under the Securities and Exchange Board of India Act, 1992 and the Prohibition of Insider Trading Regulations, 2015. Particularly, Regulation 3 of the Prohibition of Insider Trading Regulations prohibits dealing in securities while in possession of unpublished price-sensitive information (UPSI).

If SEBI finds merit in your complaint, they will investigate the matter further and may take appropriate regulatory actions against the offenders. It is crucial to provide comprehensive and concrete evidence to support your claims for effective action to be taken.