SEBI has barred nine entities from the stock market for illegal gains of ₹21.16 crore, uncovered by market regulator Sebi.
The front-running scheme involved PNB MetLife India Insurance Company equity dealer Sachin Bakul Dagli and eight other entities, who generated over three years of illegal gains.
The investigation aimed to determine if the entities had front-run trades in connivance with other entities, violating Sebi’s Prohibition of Fraudulent and Unfair Trade Practices rules and SEBI Act.