Former TV anchor banned for fraudulent trading practices

The Securities and Exchange Board of India (Sebi) has banned former TV anchor Hemant Ghai, along with his wife Jaya and mother Shyam Mohini Ghai, from participating in the securities market for five years. This action comes after allegations of fraudulent trading practices. Sebi has also ordered Ghai and his wife to return over 6 crore rupees in illegal earnings. Each has been fined ₹50 lakh. Additionally, MAS Consultancy Service has been fined ₹30 lakh, and Motilal Oswal Financial Services must pay ₹5 lakh. Hemant Ghai was a popular anchor on CNBC Awaaz and had significant influence on his viewers. Sebi noted that his recommendations affected investment decisions and the market prices of certain stocks. However, Ghai misused this influence for personal gain, according to Sebi's ruling. The authority found that many of the trades and profits made in the accounts of Jaya and Shyam Ghai were linked to Hemant Ghai’s stock recommendations. He had control over these accounts, with his personal details connected to them.