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In the report titled "Reading the smoke signals from insider trades" published in the edition dated November 29 (Front Page), it was mentioned that Mr Girish Gelli, a Director on the board of Global Trust Bank, sold 9.5 lakh shares barely a couple of weeks before the bank's financial troubles were uncovered.

Mr Girish Gelli has since clarified that he sold 1.01 lakh shares of Global Trust Bank before the moratorium was announced on July 24, and the remaining 8.5 lakh shares out of the total of 9.5 lakh shares mentioned in the report were sold after the RBI announcement on moratorium on withdrawals from the bank.

We regret the error.

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