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The Securities and Exchange Board of India (Sebi) has conducted searches at multiple premises associated with 16 “suspected entities”, in connection with an ongoing probe in the front-running case at Axis Mutual Fund.
The search operations were carried out this week, covering over 30 locations in multiple cities, including those in Maharashtra and Gujarat, said a regulatory official. Those searched included executives at the fund house, stockbrokers, authorised persons of stockbrokers, and traders.
Front-running, which involves dealing in stocks based on insider knowledge of a future transaction, is considered one of the most serious offences by Sebi.
The market regulator widen the scope
