SEBI bars two former SecureKloud promoters for insider trading, imposes Rs 10 lakh penalty each

SEBI barred two former SecureKloud promoters for insider trading and imposed a Rs 10 lakh penalty on each.

The quasi-judicial authority declined to order disgorgement.

It held that the methodology in the show cause notice to calculate 'avoidance of loss' did not reasonably quantify alleged wrongful gains.