The country's leading investor Rakesh Jhunjhunwala has been summoned by the Securities and Exchange Board of India (Sebi). SEBI has accused him of serious insider trading.

Actually, Rakesh's family has a stake in education company Aptech Limited. Jhunjhunwala has been accused of insider trading in the shares of this company.

So far no official statement has been made about Rakesh Jhunjhunwala. After this news came on Tuesday, Aptech broke down about 4 percent and its turnover is around Rs 166.

Insider trading or insider trading is an illegal method of trading in the stock market, under which a person associated with the company takes advantage of it by acquiring confidential information about his company and on the basis of this, he makes a profit by buying and selling shares.

According to business newspaper Mint, SEBI is also investigating the role of Jhunjhunwala's family in this case. This includes his brother Rajesh Kumar Jhunjhunwala and wife Rekha Jhunjhunwala. SEBI also included Ramesh S., members of the company's board. Damani and director Madhu Jayakumar have also been asked to cooperate in this investigation.

Action is being taken in this case under Section II C (5) of SEBI Act. Under this, SEBI has the right to send summons to a person.

The matter is between February 2016 and September 2016 when Jhunjhunwala allegedly did 'irregular trading' by obtaining confidential information about the company. According to the news, on September 7, 2016, shares of Aptech had an upper circuit of Rs 175.05. On this day Rakesh's brother and his wife bought 7,63,057 shares in the company through a block deal.

Rakesh Jhunjhunwala currently holds a 24.24 per cent stake in Aptech valued at Rs 160 crore. He first bought a 10 percent stake in Aptech in the year 2005. Rakesh Jhunjhunwala's portfolio is managed by Rare Enterprises, in which he is also a partner.

He invested in a total of 24 stocks and his portfolio is valued at Rs 18,000 crore. Among them are companies like Titan, Lupine and Crisil.