TV anchor Pradeep Pandya, who was hired by ET Now Swadesh as one of its leading faces for the coverage of markets, has been barred by SEBI for violating securities law.
Incidentally, the SEBI order on Pandya came the same day when the Hindi business news channel was launched. According to the sources, Pandya has already been sacked by ET Now Swadesh.
Based on data shared by the National Stock Exchange, SEBI found a strong correlation between stock recommendations made in shows hosted by Pandya on CNBC-Awaaz and trading activity by market analyst Alpesh Furiya, his brother Manish Furiya, his wife Alpa Alpesh Furiya and two related entities for periods between November 2019 and December 2020.
Pandya was the host and co-host of various shows at the channel until August 2021.