Sebi bars four from markets for 2 years in front-running case linked to FPI
The market regulator barred four individuals for two years and imposed penalties after finding evidence of front-running trades linked to foreign portfolio investor Societe Generale
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In its investigation covering January 2022 to December 2023, Sebi found evidence of front-running in 350 trades executed by the FPI
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The Securities and Exchange Board of India (Sebi) on Friday barred four individuals from the securities market for two years for allegedly front-running trades of foreign portfolio investor Societe Generale.
The regulator also imposed a penalty of ₹5 lakh each on Vishvanath Goswami, Umang Chaturvedi, Shyam Chaturvedi, and Vinod Kumar Chaturvedi.
In its investigation covering January 2022 to December 2023, Sebi found evidence of front-running in 350 trades executed by the FPI.
According to Sebi, the individuals were linked to Atul Chaturvedi, a sales trader at Antique Stock Broking, which acted as the broker for the FPI. Atul Chaturvedi was allegedly privy to material non-public information regarding the FPI’s impending trades.
He settled the case with Sebi in November 2025 after paying a disgorgement amount of ₹1.48 crore. Several other individuals had earlier settled related proceedings in October 2025 by paying a total of ₹19.5 lakh.
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First Published: Mar 27 2026 | 6:47 PM IST