sebi:WTM/SM/IVD/ID17/25045/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Prima facie front-running found; interim directions issued with immediate effect till further order and show-cause notice issued to show why disgorgement of wrongful gains with interest and restraint from securities market should not be imposed.
Provisions invoked
- s. 11
- s. 11(4)
- s. 19
- s. 12A
- s. 15H
- s. 166
Regulations
- Reg. 3
- Reg. 4
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 200
Parties
- Kaushal Chandarana
- Manish
- Ninja Securities Pvt. Ltd.
- Banhem Securities Pvt. Ltd.
- Sumatilal Mehta
- Kashmira Mehta
Holding
SEBI prima facie held Kaushal Chandarana as information carrier and Manish with Ninja and Banhem as front-runners executed a fraudulent scheme to front-run Anvil Wealth Management Pvt. Ltd. trades during March 1, 2020 to September 30, 2022, and issued interim directions plus show-cause notice for disgorgement and market restraint.
Full text
- __________________________________________________________________________________ Interim Order-cum-Show Cause Notice in the matter of Front Running by Banhem Securities Pvt. Ltd. and Ninja Securities Pvt. Ltd. Page 2 of 44
- __________________________________________________________________________________ Interim Order-cum-Show Cause Notice in the matter of Front Running by Banhem Securities Pvt. Ltd. and Ninja Securities Pvt. Ltd. Page 3 of 44
- __________________________________________________________________________________ Interim Order-cum-Show Cause Notice in the matter of Front Running by Banhem Securities Pvt. Ltd. and Ninja Securities Pvt. Ltd. Page 4 of 44
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Source: SecMarx — sebi:WTM/SM/IVD/ID17/25045/2022-23. 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.