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In a big move, market watchdog <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords">SEBI</keyword> has banned <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword> from participating in the securities markets for 5 years, for diverting funds from <keyword id="20367971" type="General" weightage="20" keywordseo="Reliance-Home-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Home Finance" meta.hostid="261" meta.entityid="Reliance Home Finance">Reliance Home Finance</keyword> (RHF). This means that the debt-ridden Ambani scion will not be able to serve as key managerial personnel, or director in any listed company for the next 5 years. Additionally, he will also have to pay Rs 25 crore as a penalty. Along with Ambani, 24 others, which include former employees of RHF, have also been banned from trading in the securities market for a five year period. RHF itself has been barred from the securities market for 6 months, and has also been penalized Rs 6 lakh. <h2>Not the first time</h2>In its order, SEBI found Ambani guilty of fraud and channeling away RHF funds under the guise of loans by lending them to entities connected to him. This was despite the company's board of directors repeatedly advising to stop such practices. Ambani continued to orchestrate the fraud, thanks to his key position as the chairman of ADA Group, and also because of his shareholding in RHFL's holding company. In July this year, SEBI had barred the infamous fugitive Vijay Mallya from trading in Indian markets for three years, when it was found that Mallya illegally routed funds via foreign banks and companies to spruce up the share value of his own companies and profiting from the same, aka stock rigging. While all his assets in India are frozen, he also cannot serve as the director of any Indian listed company for this duration. But this is not the first time SEBI has debarred people from the markets. Last year, SEBI had barred Mohammad Nasiruddin Ansari, popularly known as <keyword id="22893256" type="General" weightage="20" keywordseo="Baap-of-Charts" source="keywords" meta.keywordsubtype="org" meta.entityname="Baap of Charts" meta.hostid="261" meta.entityid="Baap of Charts">Baap of Charts</keyword>, after he was f0und doling out misleading stock-related advise, while pretending to run educative courses. SEBI also asked Ansari to refund Rs 17.2 crore he had collected under the guise of fees. Another popular fin-fluencer, PR Sundar, was barred from options trading for an entire year, when it was found that he was running full fledged investment advisory services i.e. recommending buying and selling stocks, without obtaining the necessary licenses Bollywood actor <keyword id="20003289" type="General" weightage="20" keywordseo="arshad-warsi" source="keywords">Arshad Warsi</keyword>, along with his wife Maria Goretti, were also banned by SEBI last year after he was found uploading videos that lured investors to buy shares of two specific companies, namely Sadhna Broadcast and Sharpline Broadcast, and thus, profiting about Rs 29.43 lakh and Rs 37.56 lakh, respectively. They were not allowed to trade until they deposited all profits made in this manner in an escrow account. However, the duo, along with Warsi's brother Iqbal Warsi later received relief from SAT (Securities Appellate Tribunal), which set aside SEBI's order.

Anil Ambani, Arshad Warsi- Famous names who SEBI has barred from the markets

Actor <keyword id="20399" type="General" weightage="20" keywordseo="Arshad-Warsi" source="Orion">Arshad Warsi</keyword> and his wife Maria Goretti have landed in trouble. The Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword>) has reportedly banned several entities, including Arshad, Maria, <keyword id="16684019" type="General" weightage="20" keywordseo="YouTuber-Manish-Mishra" source="Orion">YouTuber Manish Mishra</keyword> and promoters of <keyword id="7154046" type="General" weightage="20" keywordseo="Sadhna-Broadcast" source="Orion">Sadhna Broadcast</keyword> - Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media - from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares. According to the interim order, Arshad Warsi made a profit of Rs 29.43 lakh, Maria Goretti earned a profit of Rs 37.56 lakh. However, Arshad took to Twitter and requested everyone not to believe in hearsay. He also mentioned that he and his wife lack knowledge of the stock market. "Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many others, lost all our hardearned money," he tweeted. The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-governments-january-capex-jumps-60-yoy-after-a-slump-in-december/articleshow/98365499.cms">Indian government’s January capex jumps 60% YoY after a slump in December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-groups-combined-market-cap-crosses-8-lakh-crore/articleshow/98302675.cms">Adani group stocks gain for the second consecutive day, adding over ₹78,000 crore to combined market cap in two days</a>

My knowledge about stocks is zero says Arshad Warsi after SEBI ban

Sebi on Thursday barred 31 entities, including actor <keyword id="20399" type="General" weightage="80" keywordseo="arshad-warsi" source="Orion">Arshad Warsi</keyword>, his wife <keyword id="995" type="General" weightage="50" keywordseo="maria-goretti" source="Orion">Maria Goretti</keyword> and promoters of <keyword id="11249" type="General" weightage="100" keywordseo="sadhna" source="Orion">Sadhna</keyword> Broadcast from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares. The company's promoters who have been restrained from the securities market for their involvement are - <keyword id="1569219" type="General" weightage="50" keywordseo="shreya-gupta" source="Orion">Shreya Gupta</keyword>, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media. In addition, the regulator has impounded illegal gains to the tune of Rs 41.85 crore made by the entities after misleading videos were uploaded on YouTube channels. SEBI noted that Arshad Warsi has made a profit of Rs 29.43 lakh and his wife has earned a profit of Rs 37.56 lakh. The order came after <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (SEBI) received certain complaints wherein it was alleged that there was price manipulation and offloading of shares by certain entities in the scrip of television channel Sadhna Broadcast. The complaints alleged that misleading YouTube videos with false content about the company were uploaded to lure investors. Following this, the regulator conducted an examination during April-September 2022 and found a spurt in the price and volume of scrip of Sadhna between April and mid-July 2022. During the second half of July 2022, false and misleading videos about Sadhna were uploaded on two YouTube channels -- "The Advisor" and "Moneywise". These YouTube videos peddled false and misleading news to recommend that investors should buy the Sadhna stock for extraordinary profits, SEBI said in its interim order. Subsequent to the release of the misleading YouTube videos, there was an increase in the price and trading volume of the Sadhna scrip. The volumes appear to have been contributed by a large number of retail investors likely influenced by the misleading YouTube videos. During this period, certain promoter shareholders, key management personnel of Sadhna, and non-promoter shareholders offloaded a significant part of their holdings at inflated prices and booked profits. One of the misleading videos on these YouTube channels was that Sadhna Broadcast Ltd is going to be taken over by the Adani group. After the deal, the margins of the company will increase. In addition, there were other videos like the company is moving from TV production to movie production and a big American corporation has entered into a contract for Rs 1,100 crore to produce four devotional movies where the money will be brought in by the American investor but the rights will remain with Sadhna. SEBI has classified these 31 entities into categories -- creator of YouTube channels (Manish Mishra), net sellers/ promoters and profit makers (NSs), Volume Creators (VCs) and information carriers (ICs). Arshad Warsi and his wife come in the category of Volume Creators. SEBI noted that these 31 entities collectively helped create trading volumes and interest in the scrip, spread false and misleading YouTube videos, and hence induced unsuspecting investors to buy the Sadhna scrip at elevated prices, thereby prima facie violating the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules. Collectively, NSs and some of the VCs have booked extraordinary profits as a result of this scheme. "I note that the elaborate modus operandi adopted by the Noticees (31 entities) including the egregious misuse of patently false and misleading YouTube videos, had led to drastic increase in the number of small shareholders (from 2,167 to 55,343 shareholders), who ended up buying shares from the noticee net sellers and volume creators at inflated price," SEBI Whole Time Member Ananth Narayan G said in his 58-page order. Accordingly, the regulator has barred these 31 entities "from buying, selling or dealing in securities either directly or indirectly, in any manner whatsoever until further orders". Also, all the entities have been directed not to dispose of any assets, whether movable or immovable including money lying in bank accounts except with the prior permission of SEBI until the impounded amount is deposited in the escrow account. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rcap-resolution-nclat-allows-lenders-plea-for-another-round-of-bidding/articleshow/98356569.cms">RCap resolution: NCLAT allows lenders' plea for another round of bidding</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rural-consumption-on-a-decline-as-farmers-income-continues-to-remain-under-stress/articleshow/98358312.cms">Rural consumption on a decline as farmers’ income continues to remain under stress</a>

SEBI bans Sadhna Broadcast's promoters, actor Arshad Warsi, others from securities mkt

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Anil Ambani, Arshad Warsi- Famous names who SEBI has barred from the markets

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My knowledge about stocks is zero says Arshad Warsi after SEBI ban

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SEBI bans Sadhna Broadcast's promoters, actor Arshad Warsi, others from securities mkt

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