Sebi bars Alchemy Capital's Sanghvi and his wife from markets for a year

Mumbai: The Securities and Exchange Board of India (Sebi) barred Alchemy Capital Management's cofounder Lashit Sanghvi and his wife Neha Sanghvi for one year from the securities market for alleged insider trading in the shares of Aptech based on a tip-off from the late Rakesh Jhunjhunwala.

Jhunjhunwala, who was the promoter of Aptech, was also one of the co-founders of Alchemy Capital Management.

Sanghvi and his wife have also been barred from buying or selling the shares of Aptech for two years. Sebi imposed a total fine of ₹25 lakh on them.


The regulator has also directed them to disgorge a total profit of about ₹1 crore along with 9% interest from 2016.

In October 2020 Sebi issued show cause notices to the Sanghvis based on an investigation conducted by it pertaining to trading in the shares of Aptech for the period of March 14, 2016, to September 7, 2016.

The regulator alleged in its notice that the information pertaining to the company's foray into the preschool segment envisaged as the business expansion was unpublished price-sensitive information before it was disclosed on the stock exchange platform.