TV Anchor Hemant Ghai Banned from Markets for Fraudulent Trading

Capital markets regulator Sebi has banned former TV anchor Hemant Ghai and family from securities markets for five years, citing regulatory violations. Ghai exploited his influence to manipulate stocks and made illegal profits. Sebi has ordered disgorgement of Rs 6.16 crore with 12% interest and imposed penalties.

The Securities and Exchange Board of India (Sebi) has imposed a five-year market ban on former television anchor Hemant Ghai and his family members for breaching regulatory standards.

Sebi has also ordered Ghai and his wife, Jaya, to return unlawful profits totaling Rs 6.16 crore, with an annual interest of 12% charged from March 31, 2020, until the interim order date. The regulatory body issued penalties of Rs 50 lakh each on the Ghai couple, Rs 30 lakh on MAS Consultancy Service, and Rs 5 lakh on Motilal Oswal Financial Services Ltd.

The investigations revealed Ghai's utilisation of his TV influence to manipulate stock prices, with family trades being coordinated to benefit from his stock tips. His operational control over family accounts was evident, amplified by falsified record attempts and collaboration with MAS Consultancy Services to disguise trades.

(With inputs from agencies.)