WhatsApp leak case: Insider trading charges against 11 entities nixed

The case pertains to the circulation of UPSI in various private WhatsApp groups about certain companies, including Axis Bank, ahead of their official result announcements to the stock exchanges

The Securities and Exchange Board of India (Sebi) on Monday dismissed insider trading charges against 11 entities who allegedly circulated unpublished price-sensitive information about the financial results of Axis Bank through WhatsApp messages. 

The entities are — Amish Arvind Malbari, Arvind Malbari, Amrish Suresh Vakil, Fanil Motiwalla, Kunaal Raman Khanna, Gaurav Girish Dedhia, Kotak Capital Partners, Hinglaj Enterprise, Nidhi Mehra, BharatKumar V Bagrecha, Mita Mahendra Shah and Roshan Vivian Saldanha, Sebi said in its order. 

Last year, Sebi had disposed of the adjudication proceedings against two individuals in the case pertaining to alleged circulation of unpublished price-sensitive information (UPSI) about the financial