Siblings settle front-running case, pay Rs 91 lakh

Deven Sangoi, a senior fund manager, and his sister Meghana Gosar have paid ₹91 lakh in a settlement with the Securities and Exchange Board of India in a front-running case. Sangoi and Gosar have agreed to a six-month "voluntary debarment" from the markets.

In its probe between August 2021 and April 2022, the capital markets regulator found instances of front-running involving Gosar and Sangoi, who was the chief investment officer at "Big Client". Sebi said Sangoi was privy to information related to trades being executed by the "Big Client".

It said during the investigation period there were a total of 266 instances of trades executed by Gosar in the equity segment and 76 instances of trades in the equity derivatives segment.