Greed can lead people to act in utter disregard for all principles of fair play, honesty and morality. In the past two decades we have witnessed instances not only in India but across the globe where geniuses have been able to use the vulnerable platform of stock markets to enrich themselves enormously at the cost of unprecedented financial losses to thousands of others.
A common tool used by these manipulative brains is what is known as insider trading. Insider trading is the use of material non-public price-sensitive information to trade in the securities of a company by a corporate insider or any other person who owes a fiduciary duty of loyalty to the company.
Most insider fraud involves a hand-in-glove relationship between company employees and a third party.
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Shardul Thacker is a partner at Mulla & Mulla & Craigie Blunt & Caroe in Mumbai.
Mulla House
51, Mahatma Gandhi Road, Flora Fountain
Mumbai 400 001, INDIA
Tel: +91 22 2262 3191 / +91 22 6634 5496
Fax: +91 22 6634 5497
Email: shardul.thacker@mullaandmulla.com
