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Following an investigation by the market regulator SEBI, certain actions have been taken against individuals and entities involved in unlawful financial activities.
The Securities and Exchange Board of India (SEBI) has directed those involved to cease and desist from offering investment advisory services or holding themselves out as investment advisors.
Ravindra Balu Bharti, who operated as a financial influencer and provided training in stock market trading, has been instructed to repay over Rs 12 crore, which was acquired unlawfully.
Ravindra Bharti, along with his wife Shubhangi Bharti, founded Ravindra Bharti Education Institute Pvt. Ltd. (RBEIPL) in 2016. The company claims to provide education and training related to stock market trading and operates a website for this purpose.
SEBI's interim order extends to RBEIPL and its directors, including Ravindra Bharti and his wife, as well as current directors Rahul Ananta Gosavi and Dhanashri Chandrakant Gosavi. These parties have been restrained from engaging in investment advisory services and trading securities until further notice.
This case was solved by SEBI’s whole-time director, Kamlesh C Varshney who has handled multiple such cases before as well. Hats off on all the hard work put in on this suo motto case.
Ravindra Bharti, known for his KZbin channels Bharti Share Market Marathi and Bharti Share Market - Hindi, which have a large subscriber base, is among those targeted by SEBI's order. The order highlights the abuse of investors' trust, particularly through false promises of high returns, which undermine confidence in the securities market.
This case highlights the risks associated with unregistered investment advisory services and the need for stringent regulatory oversight to safeguard investors from fraudulent practices. SEBI's intervention aims to restore trust in the securities market by holding accountable those who exploit investors' confidence for personal gain.
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00:00 Intro
00:20 RBEIPL an illegal investment advisory
00:48 People involved in this illegal investment advisory case
01:51 Sebi’s Investigation
03:26 Agreement found by SEBI
04:48 Clients Invoice found by SEBI
05:57 How Education Institute was illegal?
07:44 Sebi’s final findings
10:16 How does SEBI fulfill its responsibility?