SEBI orders probe into Prrsaar Sampada over front-running and unreported dealer death
This is an adjudication order by SEBI regarding Prrsaar Sampada Private Limited, a stock broker, for alleged violations related to the front-running of Axis Mutual Fund trades by its client, Wessel Consultancy Pvt. Ltd., and for failing to report the death of a dealer while continuing to use their trading terminal.
Prrsaar Sampada Private Limited (formerly Prrsaar Commodities Private Limited); Wessel Consultancy Pvt. Ltd.; Mr. Vikas Narang (Dealer); Axis Mutual Fund.
- SEBI alleged Prrsaar Sampada Private Limited violated SEBI (Stock Brokers) Regulations and a 2025 SEBI Master Circular.
- Investigation covered the period from April 1, 2020, to March 31, 2022.
- SEBI identified 70 suspected instances of front-running by client Wessel Consultancy Pvt. Ltd.
- Total profit from these 70 instances was calculated at Rs. 36,40,332.35.
- Mr. Vikas Narang was identified as the top dealer with 22 instances and a profit of Rs. 31,03,768.90.
- SEBI found that Prrsaar Sampada continued to allow the use of Mr. Vikas Narang's terminal ID after his death in November 2020 without informing the stock exchange.
- SEBI noted that 42 of the 70 instances were executed through terminals that Prrsaar Sampada claimed were 'not working' or refurbished without invoices.
- Prrsaar Sampada attributed compliance lapses to the impact of the Covid-19 pandemic and remote work arrangements.
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Document details
| Official title | Adjudication Order in the matter of Front Running of trades of Axis Mutual Fund by a client of Prrsaar Sampada Private Limited |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/JS/VC/2026-27/32400 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |