After the ban and gaming bill on online gaming apps, now the country’s well-known investor Rekha Jhunjhunwala is facing allegations of insider trading. According to a social media post by TMC MP Mahua Moitra, Rekha Jhunjhunwala manipulated the market by taking advantage of internal information related to Nazara Technologies. Nazara Tech is an online gaming and e-sport company, whose subsidiary Moonshine Technologies include popular poker platform Pokerbaazi. Nazara has a 46.07% stake in Moonshine. The important thing is that about 2 months before the gaming bill passed, Rekha sold her entire 7.06% stake (61.8 lakh shares) at an average price of Rs 1,225 per share. He got around ₹ 334 crore from this deal. The investment was part of an investment of ₹ 180 crore made by Rakesh Jhunjhunwala in 2017. After his death, this stake came to the line. The question is now being raised on social media whether he was already aware of the gaming bill? The case raises suspicion of insider trading, which is now being demanded for monitoring and investigation.
Ramesh Ghorai is the founder of www.livenewsblogger.com, a platform dedicated to delivering exclusive live news from across the globe and the local market. With a passion for covering diverse topics, he ensures readers stay updated with the latest and most reliable information. Over the past two years, Ramesh has also specialized in writing top software reviews, partnering with various software companies to provide in-depth insights and unbiased evaluations. His mission is to combine news reporting with valuable technology reviews, helping readers stay informed and make smarter choices.
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