Mumbai, The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 2 lakh on an employee of Titan Company, Theekevedu B. Alexander, for violating insider trading norms in 2018.

The investigation by the capital markets regulator found that the designated employee of the company and his spouse had traded in the scrip of Titan when the trading window was closed, in violation of SEBI (PIT) Regulations, 2015.

Alexander had traded on two trading days during the period from September 23 to November 12, 2018 -- a period during which the trading window was closed.

The noticee will have to pay the said amount of penalty within 45 days of receipt of the order.