ABSTRACT
Insider Trading can simply be defined as Trading in the shares of a company by the person who are in the management of the company or are close to them on the basis of undisclosed price sensitive information regarding the working of the company, which they possess but which is not available to others. In the present Research Paper we tried to understand the phases of Insider trading laws in India and its legal framework considering the case study L&T and DLF. After analyzing the legal Framework of insider Trading we concluded that there have been a lot of laws, protecting the interests of investors as we have seen how the laws came into being right from The Thomas Committee Report in 1948 to now SEBI becoming the watchdog of the financial markets. Every phase helped in overcoming the drawbacks of the previous laws which were being used by companies to help them in insider trading.
Key Words: Trading, Insider Trading, SEBI, DLF, Investor