Market regulator Securities and Exchange Board of India (SEBI) has uncovered a massive Rs173 crore insider trading scheme involving a Central Electricity Regulatory Commission (CERC) official and trading in Indian Energy Exchange Ltd (IEX) shares. In an ex parte interim order , SEBI barred eight individuals from the securities market and directed them to deposit the alleged ill-gotten gains into interest-bearing fixed deposits under SEBI’s lien.

"It is equally important to take note of the fact that humongous alleged ill-gotten gains have been made by noticees by executing trades with great precision and timing and at the cost of innocent investors who had no prior access about the impending fall in the price owing to the CERC order. Immediate action is also required against Noticees to

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