Mumbai: The Securities Exchange Board of India (SEBI) accused Hong Kong-based Factorial Capital Management Ltd of insider trading, saying it suspected the hedge fund had shorted L&T Finance Holdings Ltd before the announcement of a share sale in mid-March.
The stock market regulator on Thursday also reserved the option of looking into Credit Suisse`s Indian unit, which had been the broker for L&T Finance`s share sale, but did not accuse the investment bank of any wrongdoing or announce the start of an actual investigation.