Satyam Computer Services and the US Securities and Exchange Commission have decided to settle a civil litigation, pertaining to a massive fraud perpetrated by its promoters. Mahindra Satyam, the brand name by which the company now calls itself, will pay $10 million or Rs 45 crore to the SEC.
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Short-term profits not for insiders, Sebi proposes US-style legislation
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Sebi plans to introduce short-swing insider trading regulations in India too. The draft note put up on its website traces its origins to US securities’ law. The proposal seeks to define insiders for the purpose of this regulation.