SEBI impounds ₹2.72 crore in stock front-running case
This is a Final Order by SEBI regarding alleged front-running of trades by Life Insurance Corporation of India (LIC) by Madhav Stock Vision Pvt. Ltd. (MSVPL) and five associated individuals. SEBI examined whether these parties used non-public information to trade ahead of LIC's orders for profit.
Madhav Stock Vision Pvt. Ltd., Jyotiswaroop Nandkishore Purohit, Pankit Bhagwati Jhaveri, Rajesh Bhagwati Jhaveri, Ajay Sampatraj Jain, and Rajkumar Prabhu Damani.
- SEBI found a prima facie case of front-running of LIC trades by MSVPL and the other noticees between April 2020 and December 2023.
- SEBI directed the impounding of INR 2,72,82,731.90 as alleged unlawful gains, to be held in fixed deposit accounts with a lien in favor of SEBI.
- SEBI restrained MSVPL from buying, selling, or dealing in securities in its proprietary account with immediate effect.
- SEBI restrained the five individual noticees from buying, selling, or dealing in securities directly or indirectly with immediate effect.
- The order was issued under Sections 11(1), 11(4), 11(4A), 11B(1), and 11B(2) of the SEBI Act, 1992.
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Final Order in the matter of front running by Madhav Stock Vision Pvt. Ltd. and Others |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/AS/ISD/ISD-SEC-4/32507/2026-27 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |