Adjudication Order in respect of Gopal Vittal, Bharti Telecom Ltd., Rohit Krishan Puri and Sunil Bharti Mittal in the matter of Trading by certain entities in the scrip of Bharti Airtel Limited

The Securities and Exchange Board of India (SEBI) has issued an adjudication order following an investigation into trading activities involving Bharti Airtel Limited shares. The order addresses alleged violations of insider trading regulations by Gopal Vittal, Bharti Telecom Ltd., Rohit Krishan Puri, and Sunil Bharti Mittal. These proceedings were initiated under the SEBI Act and PIT Regulations.

BEFORE THE ADJUDICATING OFFICER
SECURITIES AND EXCHANGE BOARD OF INDIA
[ADJUDICATION ORDER NO. Order/PM/VC/2020-21/9416-9419]

UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 AND RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

In respect of

Gopal Vittal
(PAN– AAAPV5759P)
Bharti Telecom Limited
(PAN- AAACB1456G)
Rohit Kishan Puri
(PAN- AOLPP8519G)
Sunil Bharti Mittal
(PAN- ABBPM8878J)

In the matter of

Trading by certain entities in the scrip of Bharti Airtel Limited

BACKGROUND
1. Securities and Exchange Board of India (hereinafter referred to as, “SEBI”) conducted investigation in respect of trading of certain entities in the scrip of Bharti Airtel Limited (hereinafter referred to as ‘BAL’/’Company’). On the basis of the said investigation, SEBI initiated adjudication proceedings under Section 15G of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) against Mr. Gopal Vittal (hereinafter referred to as “Noticee 1”) and Bharti Telecom Ltd. (hereinafter referred to as “BTL”/“Noticee 2”) for the alleged violations of Section 12A(d) & (e) of the SEBI Act read with Regulation 4(1) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations”) and against Rohit Krishan Puri (hereinafter referred to as “Noticee 3") and Sunil Bharti Mittal (hereinafter referred to as “Noticee 4”) under section 15HB of the SEBI Act for the alleged violation of clause 8 of Schedule B under Regulation 9(1) of PIT Regulations, in respect of the dealings of Noticees 1 & 2 in the scrip of BAL. Noticees 1, 2, 3 and 4 are hereinafter collectively referred to as “Noticees”.

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