A letter by Cyrus Mistry, former chairman of Tata Sons, to the company’s board had mentioned possible violations of insider trading regulations. In addition, people close to Mistry have spread the word that the relationships between operating companies, Tata Sons and Tata Trusts are nebulous. The charges, in one sense, implicate Mistry himself, since he was a key link between the operating companies and Tata Sons. The former Sebi official says that the operating word that should be kept in mind as far as insider trading violations go is ‘trading’. These are matters that Tata Sons and Tata Trusts need to resolve.

Source: Mint November 08, 2016 20:00 UTC