The Securities and Exchange Board of India (SEBI) on Wednesday fined Hemant Ghai, Motilal Oswal Financial Services and two others for alleged fraud. The market regulator has banned Ghai (former CNBC voice news anchor and quite follower on social media), his wife Jaya Hemant Ghai and MAS Consultancy Service from doing business in securities for five years.
SEBI directed Hemant and Jaya Ghai to return illegal earnings of Rs 6 crore, and also imposed a fine of Rs 50 lakh. While MAS consultancy was fined Rs 30 lakh and Rs 5 lakh on MOFSL. The regulator found that trades conducted through accounts of Ghai’s family members were done in the time of stock recommendations aired on his show. These accounts took positions before the program broadcast, after which the volume and prices of the recommended shares registered a jump.
SEBI’s full-time member Ashwini Bhatia said in the order, “When high-profile TV anchors appointed by major business channels to inform and educate investors, take advantage of non-public information for personal benefits, they cheat the trust that strengthens market transparency.
The case began in January 2021 with an interim order of SEBI. After this, the investigation period was extended and more stock recommendations of Ghai were investigated on the news channel. SEBI found that an authorized person MAS Consultancy, an authorized person associated with MOFSL, helped Ghai’s fraud trades.
First Published – March 19, 2025 | 11:07 pm IST
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(Tagstotranslate) sebi penalty hemant ghai