To
All Trading Members of the Exchanges
Sub: Order in the matter of Front running by Ashok Maheshwari and others.
SEBI vide its order no. WTM/KV/ISD/ISD-SEC-4/30295/2024-25 dated April 26, 2024, has inter-alia issued following directions:
· The Noticees are restrained from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever until further orders. It is clarified that the restraint imposed above shall be operative only against the Proprietary Trades of Noticee no. 2 and Noticee no. 7 and is not applicable on the trading of their clients.
· If the Noticees have any open position in any exchange traded derivative contracts, as on the date of the order, they can close out /square off such open positions within 3 months from the date of order or at the expiry of such contracts, whichever is earlier. The Noticees are permitted to settle the pay-in and pay-out obligations in respect of transactions, if any, which have taken place before the close of trading on the date of this order.
This Order is effective from the date of the order.
A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Jeevan Noronha Vinayak Bhalavi
Regulatory Correspondence Regulatory Correspondence
Date: April 26, 2024 |