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'Impound Rs 30.6 crore': Sebi diktat in Axis MF front-running case

The regulator ordered the impounding of Rs 30.6 crore - total wrongful gains earned from front-running activities

Sebi
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The markets regulator has also asked banks and intermediaries to ensure no remittances are done from the noticees’ accounts, demateraliased and MF units without permission from Sebi

Khushboo Tiwari Mumbai
The Securities and Exchange Board of India (Sebi) on Tuesday barred Viresh Joshi, former chief dealer at Axis Mutual Fund (MF), and 19 others from accessing the capital markets for their alleged front-running trades carried out by the fund house to make crores of wrongful gains.

The regulator ordered the impounding of Rs 30.6 crore — total wrongful gains earned from front-running activities.

“Senior functionaries like (Viresh) Joshi, discharging a sensitive job like that of a dealer of a reputed MF, when playing mischief with trades of the MF in collusion with his associates as part of a well-calculated scheme,

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First Published: Feb 28 2023 | 9:28 PM IST

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