Sebi bans former TV anchor Pandya, 7 others from securities market for 5 years, slaps fine.

The Securities and Exchange Board of India (SEBI) has taken action against former TV anchor Pradeep Pandya and seven other entities. Here are the details:Ban: SEBI has barred Pradeep Pandya and the other entities from participating in the securities market for five years.
Fine: A collective fine of ₹2.6 crore has been imposed on them for engaging in fraudulent trading activities.

Pradeep Pandya hosted or co-hosted various shows on CNBC Awaaz until August 2021. Alpesh Furiya, another individual involved, appeared on the channel as a guest expert, providing stock recommendations on his Twitter handle. SEBI observed a high correlation between the stock recommendations made by Pradeep Pandya on the show ‘Pandya Ka Funda’ and the Buy-Today-Sell-Tomorrow and intra-day trades executed by Alpesh Furiya and related entities from November 2019 to January 2021.

This case highlights the importance of ethical conduct in financial markets and the consequences for violating regulations