According to the SEBI, front-running was being done by Dagli and eight entities for more than three years and during this period, all of them collectively earned illegal profits of Rs 21.16 crore.
The market regulator banned Dagli and the eight entities from the stock market and seized the unlawful gains.
The SEBI had investigated some suspicious front-running trades related to PNB MetLife India Insurance before this action.
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