SEBI recovery notice in front-running case
SEBI issued Notice of Demand under RC 9252/2026 against Chiranggi Irish Shah in a front-running matter.
SEBI is pursuing recovery against individuals in a front-running case involving Navnit Gadoya, Chiranggi Irish Shah, and Surbhi Aggarwal. The action underscores enforcement momentum against market abuse and dealer misconduct.
Highlights heightened SEBI focus on front-running and information-leak risks in dealing rooms.
Action Required
Reinforce surveillance and pre-trade controls to detect front-running by dealers and connected persons.
Front-running enforcement is a systemic conduct risk indicator for buy-side and sell-side firms.
Review dealer conflict-of-interest policies, PA dealing monitoring, and surveillance thresholds for front-running.
“SEBI Notice of Demand dated 27.07.2026 issued under RC No. 9252 of 2026 against Chiranggi Irish Shah in front-running matter involving Navnit Gadoya and Surbhi Aggarwal.”