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Sebi has taken action against 15 guest experts of Zee Business channel for unlawful trading, with the entities making gains of ₹7.41 crore. Sebi has ordered the guest experts to pay the amount and has restrained them from buying, selling or dealing in securities until further notice.
Trends in the GIFT Nifty indicate a weak start for the broader index in India, with a loss of 52.50 points or 0.24 percent.
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