 "Sebi")
From a reading of mobile tower signals and dissecting dubious whistle-blower complaints to piecing together Bloomberg chat extracts, capital markets regulator Securities and Exchange Board of India (Sebi) has gone the extra mile in blowing the lid off a front-running scandal at Axis Mutual Fund (MF), which has resulted in ill-gotten gains of over Rs 30 crore.
Legal experts say establishing front-running violations isn’t easy, but Sebi has built a strong case in affirming violations by Viresh Joshi, former chief dealer at Axis MF, and 20 others who had allegedly built a cleverly crafted nexus to pocket these gains. This
