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Piramal Rapped For Breaching Insider Trading Rules

Executive Summary

The Securities and Exchange Board of India has pulled up Piramal Enterprises for violating insider trading norms at the time of the firm's landmark deal with Abbott in 2010. The capital markets regulator said that "unpublished price sensitive information" ought to have been handled on a "need-to-know" basis and not shared even with chair Ajay Piramal's son, who wasn't part of the firm at the time.

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