Gujarat CM clarifies SEBI order story, says tribunal had quashed the order

Reacting to news reports in section of media that Chief Minister Vijay Rupani had attracted SEBI order over HUF, Chief Minister Rupani in series of tweets and a written statement gave rebuttal and made it clear that said SEBI order was quashed and set aside by SEBI Tribunal.Presented below is full text of Rupani’s clarification

The Securities Appellate Tribunal (SAT) has quashed and set aside the order passed by SEBI regarding transactions related to trading of shares of Sarang Chemicals.

The transaction done by Vijay Rupani HUF is just 0.1% of the total transaction. So, no major gains have been made by him through speculation.

Vijay Rupani HUF purchased shares worth about Rs. 63,000 only in 2009. It was sold in 2011 at about Rs. 35,000/- thus incurring a loss of about Rs. 28,000/-.

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