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

Detailed Legal Analysis

To file a complaint regarding suspected insider trading to the Securities and Exchange Board of India (SEBI), you need to follow a structured process, providing sufficient evidence to support your claims.

Here are the steps to file a complaint:

• Gather Evidence: Collect all relevant information that supports your suspicion of insider trading. This may include:
• Emails, messages, or other communications indicating non-public information.
• Trading patterns or transactions that appear suspicious or unusual.
• Details of the individuals involved, including their positions and roles in the company.
• Draft a Complaint: Prepare a written complaint addressing SEBI. Ensure your complaint includes:
• Your name, address, and contact information.
• The name of the listed company and details of the suspected officers.
• A clear description of the insider trading activities you suspect.
• Details of the evidence collected.
• Submit the Complaint: You can submit your complaint through the following methods:
• Online via the SEBI Complaints Redress System (SCORES) at https://scores.gov.in/scores/Welcome.html.
• By sending a hard copy to SEBI's office, addressed to the Executive Director, using the address: SEBI Bhavan, Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051.
• By email to the relevant SEBI email addresses found on their official website.
• Follow Up: After submission, keep track of your complaint’s status. You can log into the SCORES system to check updates.

Insider trading is governed under the Securities and Exchange Board of India Act, 1992, particularly under Section 15G, which imposes penalties for insider trading. Additionally, the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, define what constitutes insider trading and the obligations of company officers.

It's crucial to ensure that your complaint is well-documented and substantiated to facilitate a thorough investigation by SEBI. Providing concrete evidence significantly increases the likelihood of action being taken against the suspected individuals.