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 action was taken after finding that they traded in shares and derivatives of Indian Energy Exchange Ltd (IEX) on the basis of confidential information leaked from the Central Electricity Regulatory Commission (CERC) ahead of its market coupling order.
- The move 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.
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Author's summary: SEBI impounds ₹173 crore in alleged insider trading case.