SEBI Imposes Penalties and Market Ban on CNBC Awaaz Anchor and Investment Expert for Front-Running

The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 1 crore on former CNBC Awaaz news anchor Pradeep Pandya and investment expert Alpesh Vasanji Furiya. Six others involved in the case have been fined Rs 10 lakh each. Additionally, SEBI has barred all entities from participating in the market for five years.

An investigation by the regulator revealed that Pandya and Furiya were involved in front-running and engaged in ‘buy-today-sell-tomorrow’ trades in synchronization with their recommendations. This fraudulent activity led to the severe penalties and market ban.

In a separate initiative, SEBI has launched a certification program for investors aimed at enhancing their knowledge of markets and investing. Investors can enroll for the online exam free of cost.

In other market news, the IPO of Le Travenues Technology, the operator of the travel booking platform ixigo, received 9.31 times subscription on Tuesday, the second day of the offer.