SEBI Bans 8 Entities from Securities Market for Illegal Front-Running Trades

SEBI barred eight entities from trading in the securities market for alleged front-running activities, impounding ₹4.82 crore in illegal gains. 

The accused violated the SEBI Act, 1992, and PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations by exploiting confidential trade information from Gagandeep Consultancy.

Dealer Nirav Sapani leaked trade details to Ashish Kirti Kothari and associates, who made illicit trades and shared profits. 

Krishna Kadam's accounts were used to conduct front-running trades.

SEBI prohibited the entities from buying, selling, or dealing in securities and directed recovery of the unlawful earnings, holding them jointly and severally liable.