SEBI Directs Tata Motors to Investigate on “Whatsapp Leak of Financial Information”
Securities and Exchange Board of India (SEBI) announced on Tuesday that it expects Tata Motors Ltd to investigate on the leak of financial results for the quarter end (October-December) 2015 on Whatsapp ahead of its official release.
Tata Motors is expected to complete the probe within three months and submit a report to SEBI within seven days, the board said. This decision comes after SEBI’s investigation against the automaker company revealed that the figures circulating on Whatsapp prior to the formal release of financial results were matching the actual numbers.
In reaction to the announcement by SEBI, a spokesperson from Tata Motors said, “Tata Motors would like to state that it is fully committed to ensuring confidentiality of such price sensitive information. This lapse pertai...