SEBI Bans 12 Entities for 5 Years, Slaps Rs 90 Lakh Fine in Front-Running Case
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Moneycontrol•17-01-2026, 12:23
SEBI Bans 12 Entities for 5 Years, Slaps Rs 90 Lakh Fine in Front-Running Case
- •SEBI has barred 12 entities from securities markets for five years and imposed total penalties of Rs 90 lakh for involvement in a front-running case.
- •The regulator also directed the entities to disgorge unlawful gains of Rs 1.07 crore, plus 12% interest, to the Investor Protection and Education Fund.
- •The case involved Paresh N Bhagat (Mangal Keshav Financial Services) whose dealers, Ashish S Parekh and Rajesh Joshi, shared non-public information (NPI).
- •This NPI was used by Nagendra S Dubey and Chirag Atul Pithadia to place orders in connected entities' accounts ahead of the big client's impending orders.
- •SEBI found these actions constituted fraudulent, manipulative, and unfair trade practices, violating PFUTP regulations.
Why It Matters: SEBI took strict action against 12 entities for front-running, imposing bans, fines, and disgorgement of illegal gains.
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