Franklin case: Meet Vivek & Roopa Kudva, the couple in Sebi's firing line

“I hold that the redemption of units by the Noticee No. 1 (Vivek Kudva) on his own behalf and on behalf of Noticee No. 3 (Vasanthi Kudva) while being privy to material non-public information is an ‘unfair trade practice’… further… the facts and circumstances and timing of the redemptions made by Noticee No. 2 (Roopa Kudva) lead to a distinct likelihood that the said redemptions were also based on material non-public information passed on by Noticee No 1… This is the gist of the Securities and Exchange Board India’s (Sebi) order on Franklin Tem.....

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