polaris consultancy and services limited chennai tamil nadu
Polaris Consulting & Services Limited
In December 2002 , The chairman of the company Arun Jain and Sr Vice President Rajiv Malhotra were detained by Indonesian police over commercial Dispute with a local bank Artha Graha on fraud charges . Jain and Malhotra were released by the police after major diplomatic intervention by Indian government . In October 2012 , Market regulator SEBI barred Polaris Software Labs 's CMD Arun Jain from securities market for a period of two years for insider trading in the company 's shares . SEBI had charged him with trading in the stock on the basis of ' unpublished price sensitive information ' relating to a proposed acquisition by the firm . SEBI found that Polaris Software Lab had called off the proposed acquisition of Data Inc , after due diligence , in the second week of September , 2000 but had informed the concerned stock exchanges on 30 September 2000 . Jain dealt in 15,080 shares of the company on behalf of Polaris Holding Private Ltd ( PHPL ) on the basis of ' unpublished price sensitive information ' held by him and had made unfair gains to the tune of Rs 27.26 lakh . During the relevant time , PHPL was one of the promoters entity of Polaris Software Labs and Jain was one of the directors of PHPL . However , in November 2012 , Madras High Court today stayed a SEBI order which had barred Polaris Financial Technology CMD Arun Jain from operating in securities market for a period of two years for alleged insider trading in the company 's shares .
In December 2002 , The chairman of the company Arun Jain and Sr Vice President Rajiv Malhotra were detained by Indonesian police over commercial Dispute with a local bank Artha Graha on fraud charges . Jain and Malhotra were released by the police after major diplomatic intervention by Indian government . In October 2012 , Market regulator SEBI barred Polaris Software Labs 's CMD Arun Jain from securities market for a period of two years for insider trading in the company 's shares . SEBI had charged him with trading in the stock on the basis of ' unpublished price sensitive information ' relating to a proposed acquisition by the firm . SEBI found that Polaris Software Lab had called off the proposed acquisition of Data Inc , after due diligence , in the second week of September , 2000 but had informed the concerned stock exchanges on 30 September 2000 . Jain dealt in 15,080 shares of the company on behalf of Polaris Holding Private Ltd ( PHPL ) on the basis of ' unpublished price sensitive information ' held by him and had made unfair gains to the tune of Rs 27.26 lakh . During the relevant time , PHPL was one of the promoters entity of Polaris Software Labs and Jain was one of the directors of PHPL . However , in November 2012 , Madras High Court today stayed a SEBI order which had barred Polaris Financial Technology CMD Arun Jain from operating in securities market for a period of two years for alleged insider trading in the company 's shares .