SEBI obtain Zee trade information from Nippon Life AMC
To begin with, the Securities and Exchange Board of India (SEBI) obtain Zee trade information from the Nippon Life AMC. As on 25th Jan 2019, one of the largest mutual fund Nippon Life Asset Management Company crashed. As per the insider information, a few members of Nippon AMC employees shifted to Zee Entertainment.
According to the expert’s report, the market regulator also seeks information about Zee shares the employee’s bank accounts details. Moreover, the market regulator obtains details of decision-makers in the company.
At that time, the Securities and Exchange Board of India got an email about this issue. Furthermore, still, the SEBI looking for this information through different sources said by the Nippon Life AMC.
According to the sources, the Zee shares declined by 34% on 25th Jan 2019. Due to the media report declared link the media houses and Nityank Infrapower and Multiventurs. When the company was in a survey of Serious Fraud Investigation Office, about the deposition of Rs. 3,000 cr at the time of demonetization.
Of course, the Zee promoters and Essel Group reported that Nityank did not relate to the enterprise. On June 18th, the shares of the Nippon Life traded with 22% fall and stood at Rs. 275.25 per equity share.