SEBI investigates CERC officials over IEX insider trading allegations
This is an ex-parte interim order by SEBI regarding alleged insider trading in the shares of Indian Energy Exchange Limited (IEX). SEBI examined whether specific individuals traded based on unpublished price-sensitive information (UPSI) concerning a Central Electricity Regulatory Commission (CERC) order on market coupling.
Bhoovan Singh, Amar Jit Singh Soran, Amita Soran, Anita, Narender Kumar, Virender Singh, Bindu Sharma, Sanjeev Kumar, and Indian Energy Exchange Limited (IEX).
- SEBI conducted a suo-motu preliminary examination and received a complaint alleging insider trading in IEX shares.
- SEBI identified the CERC order dated July 23, 2025, regarding market coupling as Unpublished Price Sensitive Information (UPSI).
- SEBI observed a 29.58% drop in IEX share price on July 24, 2025, following the public announcement of the CERC order.
- SEBI appointed an Investigating Authority on September 12, 2025, to examine trading activities between July 1, 2025, and August 14, 2025.
- Search and seizure operations were conducted between September 18 and 20, 2025, to collect digital evidence and record statements.
- The order is interim and ex-parte, meaning it is issued without hearing the noticees at this stage.
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Ex-Parte Interim Order in the matter of Insider Trading by certain entities in the scrip of IEX |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/ISD/ISD-SEC-2/31727/2025-26 |
| Status | closed (order) |
| Year | 2025 |
| Closing date | — |
| Documents | 1 |