The case of Hindustan Lever Limited (now Hindustan Unilever Limited) vs. Security and Exchange Board of India is discussed in this article. This study examined the insider trading scandal surrounding the merger of Hindustan Unilever Limited and Brook Bond Lipton India Limited, as well as the controversy that arose and the new regulations that were enacted as a consequence. It also provides an overview of insider trading, including what it is, what laws govern it, and how it has influenced the corporate sector. This case study covers the whole historic case involving insider trading that resulted in substantial changes in the business sector. Before going into detail about the case, the article explains what is insider trading and what are the penalties for insider trading. The article also discusses the pre and post covid scenario relating to insider trading.