SEBI revokes interim order against Poonwalla Fincorp MD Abhay Bhutada In an interim order dated September 15, 2021, the market regulator had barred Bhutada and seven other entities over allegedly passing unpublished price sensitive information (UPSI) and insider trading. Market regulator SEBI on Friday revoked an interim order passed against Abhay Bhutada, Managing Director of Poonawalla Fincorp (formerly Magma Fincorp) with immediate effect. In an interim order dated September 15, 2021, the market regulator had barred Bhutada and seven other entities from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever, over allegedly passing unpublished price sensitive information (UPSI) and insider trading. “Pursuant to the SEBI’s detailed investigation in the matter, it was found that Abhay Bhutada had not communicated Unpublished Price Sensitive Information (UPSI), and hence the interim and confirmatory orders stand revoked vide order dated 3 June 2022,” the company informed the stock exchanges. Source: Business Today #livenews #bln #blnnetwork #businesslivenews #BusinessNews #businesslive #Sebi #poonwallafincorp