SEBI v. Sanjay Chamria (information given on Poonawalla Fincorp insider trading probe, settlement, 2023)
Settled
Checked against the primary document on October 9, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts; a later sample of 50 of the SEBI records added on 9 October agreed on every field for 46. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In March 2023 SEBI settled with Sanjay Chamria for Rs 42.2 lakh over an allegation that incomplete information he supplied via the company to the exchange left two people out of the list of those who knew of a February 2021 announcement, which affected SEBI's insider trading action. He neither admitted nor denied.
The record
| Agency | SEBI (India) |
|---|---|
| Date filed | 2023-03-27 |
| Date resolved | 2023-03-27 |
| Court | SEBI adjudicating officer |
| Status | settled |
| Asset class | equities |
| Instruments | Poonawalla Fincorp shares |
| Venue | NSE, BSE |
| Criminal parallel | No |
| Defendants | Sanjay Chamria |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
- Penalty as published
- 4.2m INR
What is alleged to have happened
This settlement order of 27 March 2023 was made by SEBI adjudicating officer Vijayant Kumar Verma. The applicant is Sanjay Chamria, connected with Poonawalla Fincorp Ltd. The case arises from SEBI's insider trading action in the company's shares around an announcement of 10 February 2021, in which SEBI had issued an interim order in September 2021, confirmed in March 2022, restraining eight entities.
In the detailed investigation, SEBI found that the company had given incomplete information on who was involved in the discussions before the announcement, leaving out two named people, and that this information was prepared partly on the applicant's inputs and was relied on in the preliminary examination. SEBI alleged that this obstructed enforcement and was a manipulative, fraudulent or unfair practice under PFUTP Regulation 4(1) read with the definition of fraud. The applicant was not himself alleged in this order to have traded on the information.
The applicant applied to settle without admitting or denying the findings. SEBI's committees agreed on Rs 42,20,000, and the applicant paid it on 27 March 2023, after which the adjudication proceedings were disposed of. The order leaves SEBI free to revive the case if undertakings are breached or representations prove untrue.
The record does not show the outcome of the insider trading case against the eight entities, or whether the omitted individuals traded.
No library technique fits obstruction of an insider trading investigation, so the technique list is empty. This is a marginal fit for the library.
This library tags the matter with no technique and records it as an alleged misleading-information case tied to an insider trading probe. The tagging is ours, not the regulator's.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.
Timeline
- 2023-03-27 SEBI order
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.