Former TV anchor, 2 others banned from market for 5 years

Mumbai: The Securities and Exchange Board of India (Sebi) has banned Hemant Ghai, former anchor with CNBC Awaaz, his wife and mother from dealing in securities market for five years for indulging in alleged fraudulent trade practices.

The regulator has directed Ghai, and his wife Jaya to disgorge over 6 crore of illegal gains and also imposed a fine of ₹50 lakh each on them.

It has also imposed a penalty of 30 lakh on MAS Consultancy Service and ₹5 lakh on Motilal Oswal Financial Services.


"Anchors have a position of privilege. Hemant Ghai had huge following on social media and was closely followed on CNBC. The recommendations made by him influenced the investment decisions made by his viewers and impacted the price and volume of the recommended scrips. However, he unfairly used this privilege to his own advantage," Sebi's whole-time member Ashwani Bhatia said in his order on Wednesday.

"...a majority of trades and profits in the accounts of Jaya Ghai and Shyam Mohini Ghai stemmed from trades synchronised with stock recommendations made on CNBC by Hemant Ghai, husband and son, respectively of the individuals in whose accounts the trades were executed. Hemant Ghai exercised operational control over these accounts, with his email, phone number, and bank credentials linked to them," Sebi said.