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SEBI has found instances of front running by an employee of Sanctum Wealth. As a result, the market regulator has imposed fine of Rs.5 lakh on the prime accused for front running and restricted him from accessing securities markets for 3 years.
The accused Kishan Vishram Nanda worked with Sanctum Wealth’s PMS arm as an equity dealer. He floated an HUF by including this family members to carry out front running.
SEBI has also banned other accused from accessing securities market for one year and asked them to disgorge a sum of Rs.34.84 lakh along with simple interest of 12% applicable from Oct 16, 2020 within 45 days.
The market regulator has found that the accused and his family members made Rs.34.84 lakh from front running.
