Capital markets regulator Sebi has imposed penalties totalling Rs 15 lakh on six entities in a case pertaining to front-running the trades of Deutsche Mutual Fund, which is now known as DHFL Pramerica Mutual Fund.
Those penalised by Sebi are — Kanchan Jena, Hemlata Dei Jena, Malati Lata Jena, Jayant Chhaparia, Abhishek Chhaparia and Progressive Share Brokers.
They have been directed to pay the fine within 45 days, according to two separate orders passed by Securities and Board of India (Sebi) on Friday.
Sebi found that the Fund Manager (FM) of Deutsche Mutual Fund (DMF) and his parents had employed a scheme to ‘front run’ the orders of the DMF and also were involved in every step that led to the fruition of the scheme, from the beginning till the withdrawal of the wrongful gain of the front running trades.
However, three sisters — Kanchan Jena, Hemlata Dei Jena, Malati Lata Jena — Jayant Chhaparia, Abhishek Chhaparia facilitated them in executing front-running trades during the
| Subscribe To Our Free Newsletter |
