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

Detailed Legal Analysis

To file a complaint with the Securities and Exchange Board of India (SEBI) regarding suspected insider trading by officers of a listed company based in Dibrugarh, you should follow a structured approach as outlined below.

Insider trading is governed by the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. Under these regulations, individuals involved in insider trading can face severe penalties.

• Gather Evidence: Before filing a complaint, collect substantial evidence to support your claims. This may include:
  • Details of the transactions in question.
  • Names and positions of the officers involved.
  • Dates and times of trading activities.
  • Information on the material non-public information (MNPI) that was allegedly used.
  • Any communication (emails, messages) that indicates insider knowledge.
• File a Complaint: You can file a complaint with SEBI through the following methods:
  • Online Submission: Visit the SEBI website and navigate to the “Complaints” section. You can register your complaint online through the SEBI Complaints Redress System (SCORES).
  • Written Complaint: Alternatively, you can draft a written complaint detailing your allegations and submit it to SEBI’s office. Include your contact information for follow-up.
• Provide Necessary Details: Ensure your complaint includes:
  • Your name and contact information.
  • The name of the company and its registered office address.
  • A clear description of the suspected insider trading activities.
  • Any supporting documents or evidence you have gathered.
• Follow Up: After submitting your complaint, you may receive an acknowledgment from SEBI. Keep your acknowledgment receipt safe and follow up if you do not receive any updates within a reasonable timeframe.

It is important to note that under Section 15G of the Securities and Exchange Board of India Act, 1992, insider trading is punishable with penalties, and SEBI has the authority to investigate and take necessary actions based on the complaint.

By following these steps and providing adequate evidence, you can assist SEBI in addressing your concerns regarding insider trading effectively.