India’s markets regulator has barred 13 individuals from the securities market, after finding them guilty of front running trades placed by three trusts, according to a statement from late Thursday.

Front running is trading of stocks or other assets based on insider knowledge of a future transaction.

The Securities and Exchange Board of India conducted an investigation related to alleged placing of orders of three entities, namely, Bharat Kanaiyalal Sheth Family, Ravi Kanaiyalal Sheth Family and Arjun Discretionary Trust.

The probe ran for the period from January 1, 2021 to October 31, 2022.

SEBI has also imposed on the 13 individuals penalties ranging between ₹ 5 lakh and ₹ 15 lakh for making illegal gains due to front running the trades of the three trusts.

The individuals trade

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