Agency News
'Why buy a network that even Dentsu couldn’t fix?': Inside the gamble of Dentsu's international arm sale
SEBI imposes Rs 9.5 crore fine and bans YouTube influencer with 19 lakh-plus subscribers for investment scam
SEBI's order prohibits Bharti, his company, and several key associates from providing investment advisory services without the necessary registration. The market ban will remain in effect until April 2025. The regulator has also imposed a penalty of Rs 10 lakh on Bharti and his associates.
SEBI had undertaken an inspection of BSE between February 2021 and September 2022, and thereafter issued a show cause notice.
In a major regulatory action, the Securities and Exchange Board of India (SEBI) has barred YouTuber Ravindra Balu Bharti and his firm, Ravindra Bharti Education Institute, from accessing the securities market until April 4, 2025, as per reports.
The market watchdog has also directed them to refund a sum of Rs 9.5 crore, the amount they amassed through unauthorized and unregistered investment advisory activities.
Following a detailed investigation, SEBI concluded that Bharti and his company lured novice and inexperienced investors into the stock market with promises of high returns.
Operating without the mandatory SEBI registration, the firm allegedly provided unregistered investment advice, trade recommendations, and execution services.
The inquiry further revealed that they employed manipulative tactics, including pitching multiple investment plans to individual investors and curtailing clients' autonomy in making informed decisions.
A prominent social media figure with over 19 lakh subscribers on two YouTube channels, Bharti leveraged his online influence to promote risky investments while neglecting to disclose the associated hazards.
In addition to the prohibition on accessing the securities market, SEBI’s order imposes a ban on Bharti, his company, and several key associates from offering any investment advisory services without proper registration.
They will remain barred from the market until April 2025. Further, the regulator has imposed a penalty of Rs 10 lakh on Bharti and his associates.
SPOTLIGHT
Today’s B2B marketers wear many hats: strategist, technologist, and storyteller.
Read MoreGIFT City powers Gandhinagar’s bid to be ‘next Bengaluru’ with $64 billion GCC growth
The GCC's expansion is not limited to GIFT City. These centres are also accelerating in tier-2 locations such as Bhubaneshwar, Coimbatore, Kochi, and Chandigarh, where promising talent pools are attracting interest