PB Fintech CEO Yashish Dahiya pays Rs 9.4 lakh and settles SEBI’s insider trading case

Yashish Dahiya, chairperson and chief executive officer of PB Fintech, has settled an alleged insider trading case with the Securities and Exchange Board of India (SEBI) by paying Rs 9.4 lakh.

SEBI’s settlement order, dated March 4, marks the end of adjudication proceedings that began last year against Dahiya for alleged violations of insider trading regulations.

Background of the case

SEBI initiated an investigation based on concerns that PB Fintech, through its subsidiary PB Fintech FZ-LLC, might have had access to unpublished price-sensitive information related to the acquisition of a 26.72% stake in YKNP Marketing Management.

Regulators said the transaction should have been identified as price-sensitive under the Prohibition of Insider Trading (PIT) Regulations.

A show cause notice was issued to Dahiya on April 5, 2024, alleging that he failed to ensure proper classification of the acquisition.

Settlement with no admission of guilt

Dahiya approached SEBI to settle the matter without admitting or denying the findings. After discussions with SEBI’s Internal Committee and a review by the High Powered Advisory Committee, he agreed to pay Rs 9.4 lakh.

SEBI confirmed receipt of the payment on February 13, 2025, and officially disposed of the proceedings under its settlement regulations.

The order became effective immediately and allows SEBI to reopen the case if it finds that not all facts were fully disclosed or if any settlement terms are violated.

Impact on PB Fintech

PB Fintech, which operates popular online financial services platforms Policybazaar and Paisabazaar, has seen its shares perform poorly in 2025.

The stock, traded under the symbol POLICYBZR, ended 2.4% lower at Rs 1,416.2 on the BSE on Tuesday. It has lost over 33% of its value this year, compared with a 7% decline in the Nifty 50 index.

Insider trading typically involves the use of non-public, price-sensitive information to make unfair gains or avoid losses in the stock market. Such violations can attract steep penalties and even jail time in India.

With this settlement, PB Fintech’s top executive resolves the immediate regulatory concerns, though SEBI retains the right to revisit the case if it discovers any discrepancies in the disclosures made during the process.