Front-running case: Sebi bans 9 entities from mkt

Markets regulator Sebi has uncovered a front-running scheme involving PNB MetLife India Insurance Company equity dealer Sachin Bakul Dagli and eight other entities, who generated illegal gains of ₹21.16 crore.

- Press Trust of India

NEW DELHI: The front-running by these entities continued for more than three years.

Sebi, through an interim order, prohibited Sachin Bakul Dagli and eight other entities from the securities market and impounded the unlawful gains made by them.

In a statement on Sunday, PNB MetLife stated that it has fully cooperated with Sebi in the investigation and taken disciplinary action against the individual involved.

"In line with our internal processes, we have taken disciplinary action. PNB MetLife is committed to upholding the highest standards of corporate governance, transparency, and integrity," the statement noted.