The Securities and Exchange Board of India Thursday passed an interim order against Ketan Parekh, Singapore-based Rohit Salgaocar, and 20 other entities and individuals for alleged violation of norms through front running of trades of various funds of an overseas entity engaged in foreign portfolio investments. The market regulator has directed impounding unlawful gains of INR 657.71 mln, including commission earnings, from Parekh, Salgaocar, and other entities and individuals.
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