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SEBI Bans TV Anchor For Fraudulent Trading

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Mumbai: Market regulator Securities and Exchange Board of India (SEBI) on Wednesday restrained CNBC Awaaz anchor Hemant Ghai, his wife and mother from accessing securities market over charges of fraudulent trading.
Ghai hosts the “Stock 20-20” show on the channel. The regulator said that Ghai had the “advance information about the recommendation to be made on the show and that he directly/indirectly used it to his advantage”.
In order to protect the interests of the investors and the integrity of the securities market, SEBI has restrained Hemant Ghai and his wife Jaya Hemant Ghai and mother Shyam Mohini Ghai from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever till further directions.
In addition, he has been directed to cease and desist from undertaking any activity related to giving investment advice, publishing of research reports related to the securities market, till further directions.
The bank accounts of Hemant Ghai and his family have also been frozen for debit till further orders.
“If the aforesaid entities have any open positions in any exchange traded derivative contracts, as on the date of the order, they can close out/ square off such open positions within 3 months from the date of order or at the expiry of such contracts, whichever is earlier. The aforesaid entities are permitted to settle the pay-in and pay-out obligations in respect of transactions, if any, which have taken place before the close of trading on the date of this order,” SEBI said in an interim order, as quoted by Hindustan Times.
“Hemant Ghai shall cease and desist from undertaking, directly or indirectly, any activity related to giving investment advice, sell or buy recommendations, publishing of research reports etc., related to the securities market, till further directions,” it added.

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