SEBI bans former TV anchor, analyst for five years

The Securities and Exchange Board of India (SEBI) has barred Pradeep Pandya, former CNBC Awaaz anchor, and Alpesh Vasanji Furiya, a technical analyst earlier associated with the channel, from accessing the securities market for five years. The duo have been fined ₹1 crore each.

Six other entities have been fined ₹10 lakh each and barred for five years.

Pandya, while serving as an anchor for CNBC Awaaz, shared confidential information regarding upcoming stock recommendations with Alpesh Furiya and vice-versa. Furiya, capitalising on this privileged information, executed trades through his own accounts and those of related entities, positioning himself to profit before the recommendations were publicly aired.