Vijay Rupani denies charges of SEBI violations, rubbishes Business Standard report
Source :NewsBharati Date :09-Nov-2017
Gandhinagar, Nov 9: Refuting the allegation leveled by Business Standard, Gujarat Chief Minister Vijay Rupani said that piece published by the leading business daily does not have any substance. Earlier in the day, The Business Standard published one investigative story accusing the Gujarat Chief Minister of violating SEBI guidelines.
CC: Business Standard
Rupani took to Twitter and clarified that in 2011 the share broker of Vijay Rupani HUF had carried out only one transaction which is a minuscule part of the total transactions done by several unconnected entities. The Chief Minister recounted that after six years one official from SEBI issued an order against 22 persons imposing a penalty. He underlined that no chance was given for putting valid explanation.
The Chief Minister further narrated that One of such persons against whom such an ex parte order was passed registered filed an appeal with SEBI Tribunal against the dictatorial action. Taking a cognizance of the development, after a due investigation SEBI Tribunal terminated the order passed by the SEBI officer.