MUMBAI - India's market regulator on Tuesday issued interim orders in a case of alleged front-running at Axis Mutual fund, while issuing show cause orders to the mutual fund and related entities.

The Securities and Exchange Board of India directed that 21 entities be barred from the capital markets until further orders.

It identified 305 million rupees as wrongful gains accrued due to the alleged front-running activities and directed that this amount be impounded from the 21 entities.

(Reporting by Jayshree P. Upadhyay; Editing by Shailesh Kuber)