SEBI investigates front-running by Sunny Bhatia using Sarvottam Securities orders

This order addresses SEBI's investigation into allegations that a group of individuals, led by a broker dealer, engaged in front-running trades by placing orders ahead of a large client, Sarvottam Securities Pvt. Ltd., to gain unlawful profits.

Who it concerns: Mr. Sunny Bhatia, Mrs. Surbhi Chopra Bhatia, Mrs. Mamta Rani, Mr. Kumar Ashok, Sarvottam Securities Pvt. Ltd., Findoc Investmart Private Limited, Kotak Securities Limited

What SEBI found or ordered

• SEBI alleged that Noticee No.1 (Mr. Sunny Bhatia) used non-public information about impending orders of Sarvottam Securities to front-run trades in the equity derivatives segment.
• The investigation period covered January 1, 2018, to December 31, 2022.
• SEBI alleged that the Noticees earned a positive square-off difference of INR 326.54 lakhs in 898 instances.
• SEBI alleged that the scheme resulted in unlawful gains of ₹264.79 Lacs.
• The Show Cause Notice (SCN) was issued on November 28, 2025, and served on the Noticees in December 2025/January 2026.
• A hearing was held on March 04, 2026, where Noticee No.1 attended on behalf of all Noticees.
• The order text provided is truncated and does not contain the final findings, penalties, or directions issued by SEBI.

Also in the document

• The provided text contains only the background, allegations, and procedural history; it does not state SEBI's final conclusion or any imposed penalties.
• The Noticees are alleged to be family members (husband, wife, mother, father) who traded through accounts managed by the primary Noticee.
• The alleged front-running occurred in the equity derivatives segment.