New Delhi, May 10 (PTI) Capital markets regulator Sebi on Tuesday imposed a fine of Rs 1 lakh on an individual for violating the model code of conduct in a case related to shares of Infosys Ltd.

The individual, Prateek Sarawgi, was the Associate Manager (Business Finance) with Infosys during the investigation period.

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Sebi had carried out an investigation in the matter of Unpublished Price Sensitive information (UPSI) in the scrip of Infosys to ascertain if market norms, including the Prohibition of Insider Trading (PIT) regulations, were violated.

The investigation period was December 2016 to January 2017.

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It was observed that Infosys had announced financial results for the quarter ended December 2016 in January 2017.

Sarawgi was in possession of UPSI related to the financial results and traded in the scrip during the UPSI period, in violation of market norms.

Sarawgi, being a designated person of Infosys, made a profit by executing the trades when the trading window of the company was closed.

Through such an act, he violated the model code of conduct for listed companies under the PIT regulations.

Meanwhile, in another order, the regulator levied a fine of Rs 10 lakh on Adamina Traders Pvt Ltd for indulging in manipulation of the share price of Secunderabad Healthcare Ltd (SHL).

The entity "executed trades which were fraudulent and intended to manipulate the scrip price of SHL, and have therefore, violated... PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations", it said.

This comes after Sebi conducted investigation into the trading activities in the scrip of SHL for the period November 2011 to January 2015.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)