SEBI issued a final order against eight entities for front-running trades of Unifi Capital, a portfolio manager, during April 2021 to May 2022.
The scheme involved a dealer at Kotak Securities tipping an Authorized Person, who executed trades in multiple accounts, generating unlawful gains of ₹1.30 crore.
Penalties include market debarment for 2-4 years, disgorgement of unlawful gains with interest, and monetary penalties totaling ₹1.22 crore.
Two directors were additionally penalized for making false statements to SEBI during the investigation.