SEBI has barred eight people from trading after uncovering insider activities involving Indian Energy Exchange (IEX) ahead of regulatory announcements. Investigations revealed coordinated trades yielding ₹173 crore in gains linked to CERC policy insights. The watchdog ordered disgorgement and market bans, calling the trades an abuse of privileged information. The enforcement underscores India’s tightening stance on insider activity, following recent capital-market leaks. Compliance heads expect stricter data walls between regulators and listed entities to prevent regulatory arbitrage in power-linked financial markets.