TV anchor gets interim relief as SAT stays Sebi order on Rs 3.9 cr deposit

Sebi has banned Hemant Ghai, his wife and mother from accessing capital markets for allegedly indulging in fraudulent trading activity

The Securities Appellate Tribunal (SAT) has stayed directions passed by market regulator Sebi against television anchor Hemant Ghai to deposit Rs 3.9 crore, allegedly made unlawfully.

“The order dated February 3, 2022 directing the appellant to deposit a further amount towards the alleged unlawful gains amounting to Rs 3,90,67,921 shall remain stayed till the next date of listing,” the tribunal said while adjourning the matter to March 24.

Law firm Parinam Law Associates is representing Ghai before SAT.

Sebi has banned Ghai,his wife and mother from accessing the capital markets for indulging in fraudulent trading activity.

“It was observed that Jaya Hemant Ghai (wife) and Shyam Mohini Ghai (mother) have undertaken a large number of Buy-Today-Sell-Tomorrow (BTST) trades during the relevant period in synchronisation with the recommendations made in the Show. Shares were bought on the previous day to the recommendations being made on the stock 20-20 show and sold immediately on the recommendation day,” said Sebi has said in an order last year.