Former News Anchor Hemant Ghai Pays Rs 1.45 Crore To SEBI To Settle Regulatory Violation Case

Former news anchor Hemant Ghai on Tuesday settled a case involving fraudulent trades based on advance information with markets regulator Securities And Exchange Board of India (SEBI) after paying Rs 1.45 crore.

SEBI, in its show cause notice, alleged that Ghai communicated material non-public information regarding recommendations to be provided on TV shows co-hosted by him to certain other persons.

Such persons subsequently shared the information with others and also traded on the basis of such communication, which led to them making unlawful gains, the regulator alleged in its show cause notice issued in February.

The regulator issued the show cause notice for alleged violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms after observing a high correlation between the recommendations made by Ghai in the show 'stock 20-20' co-hosted by him on CNBC Awaaz, during the period from Jan. 1, 2018 to Jan. 13, 2021, and trades of certain others.

While the proceedings were pending, Ghai filed an application under the settlement rules, proposing to settle the proceedings, "without admitting or denying the findings of fact and conclusions of law".

Following this, he paid Rs 1.45 crore to settle the charges.

"In view of the acceptance of the settlement terms and receipt of above mentioned settlement amount by SEBI, the specified proceedings initiated against the applicant vide SCN (show cause notice) dated Feb. 24, 2025 are disposed of," the regulator said in its order.

In March, SEBI barred Ghai and his family members from the securities markets for five years for violating regulatory norms.