sebi:WTM/AN/IVD/ID4/30391/2024-25
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticees found to have violated SEBI Act and PFUTP Regulations; wrongful gains of INR 1,67,52,329 disgorged and monetary penalty imposed under Section 15HA
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 15F
- s. 11(5)
- s. 65B
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Gaurav Dedhia (Noticee No. 1)
- Kajal Savla (Noticee No. 2)
Holding
The Noticees front ran the orders of the Big Clients by trading ahead of them using non-public information accessed by Noticee No. 1 as Chief Dealer of IDBI Securities, in violation of the SEBI Act and PFUTP Regulations, and made wrongful gains of INR 1,67,52,329 from 1,220 front running trades.
Full text
__________________________________________________________________________________ Final Order in the matter of Front Running by Kajal Savla Page 2 of 63
__________________________________________________________________________________ Final Order in the matter of Front Running by Kajal Savla Page 3 of 63
__________________________________________________________________________________ Final Order in the matter of Front Running by Kajal Savla Page 4 of 63
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Source: SecMarx — sebi:WTM/AN/IVD/ID4/30391/2024-25. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.