SEBI debars host of CNBC Awaaz show

New Delhi, Jan 13 : Hemant Ghai, an anchor with CNBC TV 18, has been debarred by the Securities and Exchange Board of India (SEBI) from trading in stock markets and offering investment advice.
Madhabi Puri Buch, wholetime member, SEBI, passed an interim order on Wednesday in the case of CNBC Awaaz show “Stock 20-20”, co-hosted by Hemant Ghai.
“CNBC TV 18 is also advised to appropriately bring to the notice of the viewers of the shows co-hosted by Mr. Hemant Ghai that SEBI has passed an interim order against him for prima facie violations of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003,” the 35-page order said.
SEBI found on analysis of the trading pattern of two entities viz. Jaya Hemant Ghai and Shyam Mohini Ghai for the period between January 1, 2019 and May 31, 2020 (Relevant Period), high correlation of the trades of the aforesaid entities was observed with the recommendations furnished in the show “Stock 20-20” aired on CNBC Awaaz.
As per the investigation, Ghai was hosting/co-hosting various shows, including “Stock 20-20”, “Munafe Ki Taiyari Pehla Sauda”, and “Kamai Ka Adda”. “Stock 20-20” is described as a show that features recommendations on certain stocks to be bought/sold during the day.
It was observed that Jaya Hemant Ghai and Shyam Mohini Ghai had undertaken a large number of ‘buy-today-sell-tomorrow’ (BTST) trades during the relevant period in synchronisation with the recommendations made in the show.