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Question

Which of the following is not true?

A Unlawfully procuring possession of unpublished price sensitive information is illegal Correct Answer Incorrect Answer
B An insider has to formulate the trading plans and present it to compliance officer for approval and public disclosure pursuant to which trade may be carried out on his behalf Correct Answer Incorrect Answer
C In case of connected persons, the onus of establishing that they were not in possession of unpublished price sensitive information, shall be on the Board Correct Answer Incorrect Answer
D Trading plan once approved shall be irrevocable and shall be mandatorily implemented without any deviation Correct Answer Incorrect Answer
E All are true Correct Answer Incorrect Answer

Solution

Regulation 3,4 and 5 of SEBI (PIT) Regulations. For “c” to be correct - In case of connected persons, the onus of establishing that they were not in possession of unpublished price sensitive information, shall be on the connected persons

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