New Delhi, March 19 -- The Securities and Exchange Board of India (Sebi) has barred former CNBC Awaaz news anchor Hemant Ghai, his wife Jaya Hemant Ghai, and his mother Shyam Mohini Ghai from participating in the securities market for five years, effective immediately, for engaging in fraudulent trading practices.

The regulatory body has also ordered Hemant and Jaya Ghai to disgorge Rs.6.1 crore, along with 12% simple interest from 31 March 2020, representing the profits they gained through insider trading; in addition to penalties of Rs.50 lakh each.

Sebi had initiated investigation into the Ghai family in 2021 which revealed a high degree of correlation between stock recommendations made by Hemant Ghai on CNBC Awaaz and trades execute...