Final Order in the matter of front running by Madhav Stock Vision Pvt. Ltd. and Others
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What is this order about?
SEBI issued a final order against Madhav Stock Vision Pvt. Ltd. and five individuals for allegedly front running trades of the Big Client (Life Insurance Corporation of India) using non-public information.
Who it concerns
Madhav Stock Vision Pvt. Ltd., Jyotiswaroop Nandkishore Purohit, Pankit Bhagwati Jhaveri, Rajesh Bhagwati Jhaveri, Ajay Sampatraj Jain, Rajkumar Prabhu Damani
What was found or directed
- Impounded amount of INR 2,72,82,731.90 (unlawful gains) to be kept in fixed deposit accounts with lien mark in favor of SEBI
- Noticee 1 (Madhav Stock Vision Pvt. Ltd.) restrained from buying, selling or dealing in securities in its proprietary account
- Noticees 2-6 restrained from buying, selling or dealing in securities
- Direction to disgorge total gains made on account of alleged front running
- Restraining from accessing securities market for an appropriate period
- Restraining from being a Director/Key Managerial Person with any registered intermediary for a specified period
- Imposition of penalty under SEBI Act
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/AS/ISD/ISD-SEC-4/32507/2026-27 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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Order
2026-07-24
1784905586189.pdf
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