Former Anchor Hemant Ghai Settles Fraud Case with SEBI

Hemant Ghai, a former news anchor, has settled a fraudulent trading case with SEBI by paying Rs 1.45 crore. The case involved sharing of non-public information for financial gains. SEBI issued a show cause notice, highlighting a correlation between Ghai's show recommendations and insider trades.

In a notable resolution, former news anchor Hemant Ghai settled a fraudulent trading case with SEBI by paying a sum of Rs 1.45 crore. This case examined Ghai's alleged involvement in sharing non-public information for personal gain.

SEBI, in its show cause notice, outlined how Ghai communicated recommendations from TV shows he co-hosted, leading others to make illegal trades. A significant correlation was observed with Ghai's show, 'stock 20-20,' on CNBC Awaaz, indicating potential violations.

As part of the settlement, Ghai agreed to pay the amount without admitting or denying any allegations. This decision concludes SEBI's proceedings, which initially saw Ghai and his family banned from the securities market.

(With inputs from agencies.)