SEBI Fines Refex Industries Promoter Anil Jain ₹10 Lakh for Insider Trading

• News of Income Tax raids caused Refex Industries Ltd. shares to hit a 20% lower circuit.
• SEBI fined Refex Industries Ltd. promoter Anil Jain ₹10 lakh for insider trading.
• Jain allegedly shared Unpublished Price Sensitive Information (UPSI), leading to illegal profits for others.
• The company clarified the fine is personal to Jain and will not impact its business or financial position.
• Anil Jain plans to challenge SEBI's adjudication order.

Why It Matters: SEBI's insider trading fine on a promoter signals regulatory risk and impacts stock value.