SEBI Impounds ₹173 Crore in Alleged Insider Trading
The Securities and Exchange Board of India (SEBI) has impounded ₹173.14 crore in alleged insider-trading profits and barred eight individuals from accessing the securities market.
This move comes after SEBI found that these individuals traded in shares and derivatives of Indian Energy Exchange Ltd (IEX) based on confidential information leaked from the Central Electricity Regulatory Commission (CERC) ahead of its market coupling order.
The market coupling order aimed to streamline price discovery across India’s three operational exchanges: IEX, Power Exchange India Ltd (PXIL), and Hindustan Power Exchange Ltd (HPX).
Before the announcement, IEX dominated the power exchange market, particularly in the day-ahead market (DAM) segment, which accounted for the majority of its trading volumes.
SEBI's action is a significant step towards maintaining market integrity and preventing unfair trading practices.
Author's summary: SEBI impounds ₹173 crore for alleged insider trading linked to IEX market-coupling leak.
More News
- Patrick Schwarzenegger was 'so excited' to watch wife Abby Champion in the Victoria's Secret fashion show
- Top Democrats Reportedly Plotting The Ouster Of John Fetterman In The Next Election Over His Approach To Trump
- DP World takes its Clubhouse initiative to India to help grow the game
- Cost and housing 2 most common reasons for Parksville pet surrenders
- 'Death has so many gifts to give': Before Boston show, Neko Case talks about life, love, and loss
- The Marchioness of Bath opens up about the ‘pressure’ of her title in a candid conversation with Venus and Serena Williams at Longleat
- Rajasthan High Court halts import and sale of GM food items until Centre frames regulations
- Go Fast, Get Nowhere: Here's How Much Speed Kills EV Range
- Supreme Court Seems Inclined to Limit Race-Based Electoral Districts Under the Voting Rights Act - Chapelboro.com
- Did Qatari Money Drive Trump’s Push for Gaza Ceasefire?