{
  "id": 18046647,
  "title": "Sebi imposes Rs 40 lakh penalty on two brokers in Axis Mutual Fund front-running case",
  "url": "https://urgent.news/2026/11/04/sebi-imposes-rs-40-lakh-penalty-on-two-brokers-in-axis-mutual-fund",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-04T00:35:46.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/sebi-imposes-rs-40-lakh-penalty-on-two-brokers-in-axis-mutual-fund-front-running-case/articleshow/135516888.cms"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Board of India (Sebi) has imposed a total penalty of ₹40 lakh on two stockbroking firms, Woodstock Broking and Marfatia Stock Broking, and their directors for facilitating front-running trades involving Axis Mutual Fund. The unauthorized person behind these trades operated from Dubai. The regulator fined Woodstock Broking and its director Suresh Kanmal Jajoo ₹10 lakh each, alongside Marfatia Stock Broking and its managing director Nishil Surendra Marfatia, also fined ₹10 lakh each. Sebi discovered that the brokers had installed and operated their ODIN trading software on systems used by Prijesh Kurani, who executed the alleged front-running trades from Dubai using the remote access application AnyDesk. This conduct violates the PFUTP Regulations, which require stock brokers to exercise heightened care and control over their terminal access, user chain, and trading infrastructure.",
  "summary": "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.…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}