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The regulator has asked guest experts to disgorge Rs 7.41 crore unlawful gains made by them by taking opposite positions in the market than they recommended on the channel.
Market regulator Securities and Exchange Board of India (SEBI) has ordered the impounding of Rs7.41 crore unlawful gain earned from fraudulent and unfair activities by guest experts appearing on Zee business channels and their connected entities.
Some of them have also been barred from trading in the market until further orders, SEBI said in its order on February 8
The fine was slapped for unlawful trades done by some of them based on the recommendations given by the experts when they appeared on Zee Business news channel between February and December 2022.