How SEBI Impose Rs 12cr Fine on Ravindra Bharti for Promising 1,000% Return
In a significant development, popular finfluencer Ravindra Balu Bharti, known for his financial advice and insights, has been directed by the Securities and Exchange Board of India (Sebi) to repay Rs 12 crore, deemed as ‘unlawful gains’. This move comes as part of Sebi’s efforts to safeguard investor interests and maintain market integrity in the face of misleading financial promises.
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Sebi’s directive requires Bharti to transfer the specified amount into an interest-bearing escrow account and has imposed a ban on him and his wife, Subhangi, from participating in the securities market until further notice. Bharti, along with his wife, is associated with the Ravindra Bharti Education Institute Pvt. Ltd. (RBEIPL), established in 2016, which has come under scrutiny for its alleged involvement in unauthorized trading activities.
Operating through the platform “Bharti Share Market,” RBEIPL purportedly engaged in educational initiatives related to stock market trading, masquerading as an unregistered advisory service. Sebi’s action extends beyond Bharti and his institute, encompassing several individuals linked to the entity who were implicated in the misleading financial practices.
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The regulator’s crackdown on finfluencers like Bharti underscores the importance of maintaining transparency and investor protection in India’s burgeoning capital market. Sebi’s order highlighted the need for disclosure and integrity to uphold market credibility, emphasizing that the extravagant promises of guaranteed returns up to 1,000% were an exploitation of investors’ trust in the securities market.
Sebi’s investigative officials uncovered deceptive practices employed by Bharti’s office to circumvent regulatory requirements, underscoring the need for stringent enforcement measures to deter such misconduct. Bharti, known for his financial advice on YouTube channels like “Bharti Share Market Marathi” and “Bharti Share Market – Hindi,” now faces scrutiny from Sebi for misleading financial projections and unauthorized trading activities.
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Investors who engaged with Bharti’s advisory services were enticed with promises of returns ranging from 25% to 1,000%, subject to detailed terms and conditions outlined in the agreements. The regulatory action against Bharti serves as a cautionary tale for the financial community, emphasizing the importance of ethical practices, transparency, and investor protection in the capital market landscape. How SEBI Impose Rs 12cr Fine on Ravindra Bharti for Promising 1,000% Return
