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    Onus of proving Possession of UPSI

    Posted By : Abhishek mishra / Published on : 01-Apr-2023 04:23 AM / View : 74 / Comment : 1

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    Hello All,

    Whether an insider can take a defence that he was not in possession of UPSI at the time of trading? Who shall have the onus of proving the same? Is it the same with connected persons?
    Read more on : upsi possession proving onus

    • Hello Abhishek 

      Yes, the insider can take the defence that he was not in possession of UPSI at the time of trading. The onus of proving that the insider was, in fact, possession of UPSI lies with SEBI.
      However, in case of CPs including DPs, the onus of proving that the CP was not in possession of UPSI lies with the CP as he is presumed to be always in possession of UPSI unless otherwise proved.

      01-04-2023 / 05:04:05 AM
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