Insider Trading Regulation and Enforcement in India: A Comprehensive Analysis of SEBI’S Enforcement Mechanism Framework
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Date
2026
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NLUJAA
Abstract
This dissertation critically examines India's insider trading law, centred on the SEBI Act, 1992, and the SEBI (Prohibition of Insider Trading) Regulations, 2015. It traces how the law evolved from weak colonial-era statutes which required directors to disclose shareholdings but never actually banned insider trading to the possession-based framework introduced in 2015, where a person who holds secret price-sensitive information and trades shares is presumed to have acted wrongly. The study also covers all major amendments up to March 2025. Fair markets depend on one simple idea: that everyone trades on the same information. Insider trading destroys that idea. When someone buys or sells shares using secret company information that ordinary investors do not have, they gain an unfair advantage and the public slowly loses faith in the market. India has been trying to prevent this for over three decades, yet the problem keeps growing.
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Dissertation submitted to National Law University and Judicial Academy, Assam in partial fulfillment for award of the degree of MASTERS OF LAWS/ ONE YEAR LLM. DEGREE PROGRAMME Submitted by Koushik Das SM0225022 LL.M. 1st Year & 2nd Semester Supervised by Dr. Monmi Gohain Assistant Professor of Law