The Securities and Exchange Board of
Kapadia, who quit the top fund house after the 2007 case came to light, and the three individuals—
Front-running refers to an unethical practice of someone trading in shares on the basis of advance information given by a broker, analyst or other executive at a market intermediary before trades are conducted by that entity.
The practice adversely affects interests of common investors.
In its 59-page order, the capital market regulator said the 10-year restraint period would be calculated after taking into account the restraint already undergone by Kapadia vide an interim order dated
For the three others, who were not directly linked with HDFC MF but were found to be ' associated persons' with Kapadia in terms of their market dealings, the restrain order would increase by further five years if they fail to deposit the disgorgement amount within 45 days.
The matter relates to trades conducted in 2007. Sebi begun its probe after receiving two separate references from the
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