Overview
- SEBI issued an ex‑parte interim order impounding ₹173.14 crore, barred eight named individuals from market access, and froze linked bank and demat accounts with directions to park funds in fixed deposits under its lien.
- The alleged trades were placed between July 21 and July 28 ahead of CERC’s July 23 market‑coupling order, after which IEX shares fell about 29–30% on July 24.
- SEBI’s findings point to senior CERC official Yogeita S. Mehra as the source of unpublished price‑sensitive information shared with Bhoovan Singh, who used encrypted apps and a WhatsApp group called “OTC” and operated family accounts to execute the positions.
- The order details ill‑gotten gains, including ₹72.03 crore to Bhoovan Singh and large sums to relatives and associates, and traces transfers to related entities such as GNA Energy, Jai Singh and Co., and JSC Infratech.
- Following the order, CERC suspended three employees and set up a fact‑finding committee, while SEBI noted its action is interim and the noticees have specified timelines to respond as the investigation continues.