July 5, 2022

The Securities Appellate Tribunal (SAT) has stayed instructions handed by way of marketplace regulator, Securities Alternate Board of India (SEBI) in opposition to tv anchor Hemant Ghai to deposit Rs 3.90 crore, allegedly made unlawfully.

“The order dated February 3, 2022 directing the appellant to deposit an additional quantity in opposition to the alleged illegal positive aspects amounting to Rs 3,90,67,921 shall stay stayed until the following date of record,” the tribunal stated whilst adjourning the topic to March 24, 2022.

Mustafa Physician, Senior Suggest with Ravichandra Hegde, Vishal Khanavkar, Abhineet Sharma, Samyak Pati, Ishita Bajaj and Parinaz Bharucha from Parinam Regulation Pals represented the appellant. Whilst Pradeep Sancheti, Senior Suggest with Abhiraj Arora, Harshvardhan Nankani, Shourya Tanay and Anshu Mehta respresented on behalf of the respondent.

SEBI had banned Hemant Ghai, his spouse and mom from getting access to the capital markets for indulging in fraudulent buying and selling task. It used to be seen that Jaya Hemant Ghai (spouse) and Shyam Mohini Ghai (mom) have undertaken numerous Purchase-Lately-Promote-The next day (BTST) trades all the way through the related length in synchronisation with the suggestions made within the Display. Stocks had been purchased on the day past to the suggestions being made at the inventory 20-20 display and bought straight away at the advice day,” stated Sebi has stated in an order ultimate yr.

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Printed on: Wednesday, March 16, 2022, 04:32 PM IST

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