SEBI announces Rs 1 crore reward for insider trading informants

The Securities and Exchange Board of India has announced a new mechanism to reward insider trading informants to uncover insider trading cases. The reward would be 10 per cent of the money collected, subject to a maximum amount of Rs 1 crore.
These benefits would only be available to individuals and corporates. This is not applicable for professionals like auditors who are duty-bound to report any wrongdoing.
Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992.