Is Sebi taking a fresh look at Wipro?
NetScribes/Salil Panchal & Janaki Krishnan The buzz about the alleged insider trading in Wipro has become a talking point within the Securities and Exchange Board of India (Sebi). Sources within Sebi say that this issue has been discussed in recent weeks; a decision on the issue is, however, is yet to be arrived at. Sebi officials, however, still refuse to comment on this issue. In 1997, Sebi had sought information relating to some transactions which were allegedly carried out by Wipro, in the Wipro stock, wherein purchases were made just prior to the announcement of a bonus issue in July that year. This data had been sought by the regulator from the stock exchanges – Bombay Stock Exchange and National Stock Exchange – through brokers who carried out the transactions and maintained clients records for the same. The prospectus for the recently listed American Depositary Share (ADS) issue filed by Wipro before the Securities and Exchange Commission (SEC) does not mention any details rela
