Description
SEBI issues release order for Recovery Certificate No. 8995 of 2026 against Sumit Kanungo and Riya Jain (Kanungo) in the matter of front running involving various funds of Fidelity Group.
Summary
SEBI has issued a Release Order for Recovery Certificate No. 8995 of 2026 against Sumit Kanungo and Riya Jain (Kanungo) in connection with front running activities involving various funds of Fidelity Group. This order indicates compliance or resolution of the recovery proceedings initiated against the named individuals.
Key Points
- Release Order issued for Recovery Certificate No. 8995 of 2026
- Noticees: Sumit Kanungo and Riya Jain (Kanungo)
- Matter relates to front running involving Fidelity Group funds
- Order represents compliance or settlement in enforcement proceedings
Regulatory Changes
No regulatory framework changes. This is an enforcement compliance order.
Compliance Requirements
This is a release order indicating that recovery obligations have been satisfied or compliance has been achieved by the noticees.
Important Dates
- Order Date: January 19, 2026
- Recovery Certificate No.: 8995 of 2026
Impact Assessment
Limited market impact. This order pertains to specific individuals involved in a front running case and represents the resolution or compliance stage of enforcement proceedings. The release order suggests that the recovery or compliance requirements have been met, concluding this particular enforcement action against the named individuals.
Impact Justification
Release order indicates resolution or compliance with recovery proceedings against individuals in a front running case. Limited market-wide impact as it pertains to specific individuals and enforcement action resolution.