SEBI Restricts Influencer Ravindra Bharti, Orders Rs 12 Cr Deposit
SEBI Restricts Influencer Ravindra Bharti, Orders Rs 12 Cr Deposit
SEBI has ordered finance influencers to return money earned illegally in the stock market. The fin influencer’s name is Ravindra Balu Bharti, a YouTuber. He had over 20 million followers on the internet. SEBI’s investigation revealed that this person was running an unregistered advisory firm named Stock Market Training Institute. SEBI has been asked to return over Rs 12 crore that he has earned illegally.
Ravindra Bharti Education Institute Pvt Ltd (RBEIPL) is a company founded by Ravindra Balu Bharti in 2016, with his wife, Shubhangi Bharti. The company claims to be primarily involved in imparting training & education related to share market trading activities.
According to the investigation conducted by market regulator SEBI, a stock market training institute was running an unregistered advisory. This unregistered advisory was operated from the office of an authorized person. An authorized person works for a stockbroker and assists the broker’s clients in executing their trades.
An amount of 12,03,82,130.91 is the total unlawful earnings from the illegally unregistered investment advisory firm. shall be seized from Notice No. 1 SEBI order (Ravindra Bharti Education Institute Private Limited).
SEBI, said as a regulation body is primarily responsible for protecting investors’ interests.
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