SEBI impounds ₹1.99 crore in front-running case
This order addresses SEBI's investigation into suspected front-running of large client trades by Prijesh Kurani and six others between January 2022 and February 2023. It details the allegations that the group used family members' accounts to trade ahead of client orders and the procedural steps taken, including show cause notices and hearings.
Prijesh Kurani, Navnit Gadoya, Bharati Navnit Gadoya, Rekha Arun Kurani, Dharini Kurani, Vilpa Vora, and Pranav Vora.
- SEBI alleged that the noticees violated Section 12A of the SEBI Act and PFUTP Regulations by front-running trades of a Big Client (Anustup Trading Private Limited).
- SEBI alleged that Noticees 2-5 lent their trading accounts to Noticee 1, who used them as 'mule accounts' to earn an unlawful gain of Rs. 1.99 crore.
- SEBI alleged that Noticees 6 and 7 acted as information carriers, with Noticee 7 coordinating with the client and passing non-public information to Noticee 1.
- SEBI issued a Show Cause Notice (SCN) on October 06, 2025, seeking directions to prohibit the noticees from dealing in securities and to disgorge unlawful gains.
- The document records that Noticees 1, 6, and 7 participated in hearings and filed replies, while Noticees 2-5 had limited participation or did not file written replies.
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Document details
| Official title | Order in the mater of front running by Prijesh Kurani and Others |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |