SEBI impounds ₹30 crore in Axis Mutual Fund front-running case
This is a final order by SEBI regarding the front-running of trades for Axis Mutual Fund, where SEBI found that a Chief Dealer shared non-public information to place profitable trades in other accounts before the fund's orders were executed.
Mr. Viresh Joshi, Mr. Prijesh Kurani, Ms. Dharini Kurani, Ms. Rekha Kurani, Ms. Bharti Navnit Godaya, M K B Bespoke Audio General, Mr. Bindesh Kurani, Mr. Sumit Desai, Mr. Pranav Vora, Mr. Vaibhav Pandya, Mr. Nishil Surendra Marfatia, Olga Trading Pvt. Ltd., Mr. Krunal Khamar, Mr. Kamlesh Arjundas Dhanrajani, Mr. Bhavin Shah, Ms. Rupal Bhavin Shah, Visa Capital Partners, Mr. Suresh K Jajoo, Ms. Vimla S Jajoo, Mr. Ankit Jajoo, and Ms. Sheepra Sumeet Kabra.
- SEBI found that Mr. Viresh Joshi shared non-public information about Axis Mutual Fund orders with Mr. Prijesh Kurani.
- Mr. Prijesh Kurani placed front-running trades in the accounts of 9 other noticees (conduit/mule accounts) from Dubai.
- SEBI calculated the total unlawful gains at INR 30,55,89,668.96.
- The order was passed under Sections 11(1), 11(4), 11(4A), 11B(1), and 11B(2) of the SEBI Act, 1992.
- SEBI directed the impounding of the calculated unlawful gains jointly and severally against the noticees.
Written from the document by AI, and checked against it. The original below is authoritative.
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Document details
| Official title | Final order in the matter of front running of the trades of Axis Mutual Fund |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |