₹21 Crore Fraud: SEBI Investigates Misuse of Non-Public Information in Stock Trades

Jimmy vikas, CC BY-SA 3.0 , via Wikimedia Commons

SEBI has passed an interim order-cum-show cause notice against Dhanmata Realty Pvt. Ltd. and other individuals accused of indulging in front-running activities. SEBI had found the accused entities were using unpublished information on trade orders of institutional clients, including PNB MetLife, for executing the trades.

The investigation ran from January 2021 to July 2024. Key players include Sachin Dagli, an equity dealer at PNB MetLife, and Tejas Dagli, a senior trader at Investec. It was found that both shared confidential trade data with Sandeep Shambharkar, who executed the trades using accounts linked to Dhanmata Realty and Worthy Distributors.

SEBI revealed more than 6,700 such trades, along with unlawful gains of ₹21 crore. The SEBI notice has been directed against the accused, and no further access to the security market has been allowed before further notice.

This judgment is an example of SEBI’s determination to curb unhealthy practices and ensure market integrity.

Also read: GST Council Clarifies Tax Rates for Sweet and Savory Popcorn
Published on: December 21, 2024 at 8.30 PM GMT.

Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.

Tomorrow 23rd December is celebrated as National Farmers’ Day!

As stated in Bhagavad Gita : (Bhagavad Gita 10.20)

विभूतिं च जगतां तस्माद् अहं आत्मा गुडाकेश।

I am the source of all creation; everything emanates from Me.

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