📰 ET Stocks 🔴 BEARISH 🕒 04 Nov 2026, 06:05 AM IST

Sebi imposes Rs 40 lakh penalty on two brokers in Axis Mutual Fund front-running case

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Core Development: Sebi imposes Rs 40 lakh penalty on two brokers in Axis Mutual Fund front-running case

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Market & Financial Impact: Securities and Exchange Board of India has imposed penalties on two stockbroking firms over regulatory violations. Woodstock Broking and Marfatia Stock Broking allowed unauthorized access to their trading terminals. This access facilitated front-running trades by Prijesh Kurani, who operated from Dubai. The investigation revealed insider information was shared regarding Axis Mutual Fund's trades. The regulatory body emphasized the importance of stringent controls over terminal access and trading infrastructure.

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Actionable Insight: 🔴 Bearish Risk: Regulatory scrutiny, profit decline, or sell-off risk may create near-term volatility.

The regulator imposed a penalty of ₹10 lakh each on Woodstock Broking, its director Suresh Kanmal Jajoo, Marfatia Stock Broking and its managing director Nishil Surendra Marfatia.

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Official Publisher Attribution: This report is aggregated from Economic Times. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.

Read Original Full Coverage on Economic Times ↗

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Sebi imposes Rs 40 lakh penalty on two brokers in Axis Mutual Fund front-running case

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