Sebi directs 13 people to disgorge Rs 124 crore in NSEL case

They sold shares of FTIL, MCX on insider info to avert losses, says regulator

The Securities and Exchange Board of India (Sebi) directed 13 officials of the Multi Commodity Exchange (MCX) and 63 Moons Technologies, formerly Financial Technologies India or FTIL, to return a total of Rs 124 crore (including annual interest of 12 per cent) made unlawfully.

Among those so directed are Paras Ajmera (Rs 72 crore), Hariharan Vaidyalingam (Rs 46 crore), Manish Shah (Rs 2 crore), Shreekant Javalgekar (Rs 1.1 crore), Joseph Massey (Rs 87 lakh) and Anjani Sinha (Rs 12 lakh). All 16 were either directors or held key management positions in FTIL or MCX.

Sebi’s investigations revealed they, while in possession of