Description

SEBI has restrained 8 entities from buying, selling or dealing in securities in any manner due to insider trading violations in Indian Energy Exchange Limited scrip.

Summary

SEBI has issued an ex-parte interim order dated October 15, 2025 (order no. WTM/KV/ISD/ISD-SEC-2/31727/2025-26) restraining 8 entities from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever until further orders. The action follows investigation into insider trading activities in the scrip of Indian Energy Exchange Limited (IEX). The consolidated list of debarred entities is available on the NSE website.

Key Points

  • 8 entities restrained from all securities trading activities effective immediately
  • Order issued under Sections 11(1), 11(4) and 11B(1) of SEBI Act, 1992
  • Entities involved: Bhoovan Singh (PAN: BTWPS4875D), Amar Jit Singh Soran (PAN: AAMPS1208C), Amita Soran (PAN: AESPS0968P), Anita (PAN: BXJPA5277J), Narender Kumar (PAN: AOPPK9841L), Virender Singh (PAN: FAZPS5201P), Bindu Sharma (PAN: EEOPS4198F), and Sanjeev Kumar (PAN: BJMPS6988P)
  • Violations relate to insider trading in Indian Energy Exchange Limited (IEX) scrip
  • Existing open positions in exchange-traded derivatives can be closed within 3 months from order date or at contract expiry, whichever is earlier
  • Investigation is ongoing with possibility of additional noticees

Regulatory Changes

No new regulatory framework changes. This is an enforcement action under existing insider trading regulations (SEBI (Prohibition of Insider Trading) Regulations).

Compliance Requirements

  • NSE members must ensure compliance with the trading restrictions imposed on the 8 entities
  • Members should refer to the consolidated list of SEBI debarred entities available at: https://www.nseindia.com/regulations/member-sebi-debarred-entities
  • Members must verify that the restrained entities do not execute any securities transactions (buy, sell or deal) directly or indirectly
  • Exception: Restrained entities may close existing open derivative positions within 3 months or contract expiry (whichever is earlier)
  • Members should monitor for any attempts to circumvent restrictions through indirect dealings

Important Dates

  • October 15, 2025: Date of SEBI ex-parte interim order
  • 3 months from October 15, 2025 (January 15, 2026): Deadline for closing open derivative positions (or earlier at contract expiry)
  • Until further orders: Duration of trading restrictions (indefinite pending further SEBI orders)

Impact Assessment

Market Impact: Medium - affects 8 individual entities rather than institutional participants. Limited systemic impact on IEX scrip trading.

Regulatory Impact: High - demonstrates SEBI’s active enforcement of insider trading regulations. Sends strong deterrent message to market participants.

Operational Impact: Members must implement controls to prevent trading by these entities. Consolidated debarred entity list requires periodic review.

Investigation Status: Ongoing - order notes that some names are not made noticees at this stage as investigation continues, indicating potential for additional enforcement actions.

For queries, members should contact NSE at dl-invsg-all@nse.co.in. Full SEBI order available at http://www.sebi.gov.in.

Impact Justification

High severity enforcement action by SEBI involving insider trading violations. Affects 8 entities with immediate trading restrictions. Medium market impact as it involves specific individuals rather than institutional participants.