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Order in the matter of front running of the orders of the Big Client (certain family trusts) by certain entities.

SEBI closed 2025

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What is this order about?

SEBI ordered a case against 30 individuals and entities for allegedly front-running the trades of a 'Big Client' (family trusts) in the stock market, violating securities laws.

Who it concerns

Shankar Tukaram Vadatkar, Sakshi Shankar Vadatkar, Chaitali Shah, Shah Swapnil Uday, Shah Swapnil Uday HUF, Dipesh Mehta, Dipesh Mehta HUF, Piyush Mehta, Piyush Mehta HUF, Hansraj Randhir Shah HUF, Hansraj Randhir Shah, Randhir Virji Shah HUF, Pinakin Hansraj Shah, Pinakin Hansraj Shah HUF, Punaiben Hansraj Shah, Raahul Hansraj Shah HUF, Raahul Hansraj Shah, Soniya Mahesh Bohra, Mahesh Bohra, Shailesh Nayak, Ankesh Mahendra Jain HUF, Ankesh Mahendra Jain, Dr Kumaraswami R Dussa HUF, Dr Kumaraswami R Dussa

What was found or directed

Front-running of Big Client's orders by the Noticees
Violation of Sections 12A(a), (b), (c), (e) of SEBI Act and PFUTP Regulations
424 instances of common trading days with Big Client
Rs. 2.08 crores profit from front-running
328 instances of front-running pattern observed
Orders placed before Big Client's orders in 319 instances
56.52% of GTV from intra-day trading

Points worth noting

424 instances of common trading days
Rs. 2.08 crores profit from front-running
328 instances of front-running pattern observed
Orders placed before Big Client's orders in 319 instances

Source body	Securities & Exchange Board of India (SEBI) — enforcement orders
Reference number	—
Status	closed (section: order)
Year	2025
Closing date	—
Documents	1

Highlights & Points worth asking

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Documents

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Order 2025-10-23 orders_in_the_matter_front_running.pdf

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