Arshad Warsi: SEBI did a big action against Arshad Warsi and his wife, know why one year ban

Mar 02,2023

The Security Exchange Board of India (SEBI) has taken major action on 45 units including Bollywood's famous actor Arshad Warsi and his wife Maria Gratti. According to this decision of SEBI, not all will be able to participate in stock market activities for a year. Everyone is accused of uploading misleading videos on YouTube and suggesting investors buy the company shares.

These cases are related to uploading misleading videos on YouTube channels and recommending investors buy shares of Sadhana Broadcast Limited and Sharpline Broadcast Limited. In addition to the market ban, according to two different interim orders of the regulator, illegal benefits of Rs 54 crore made by institutions have been confiscated by the institutions after the uploading of misleading videos on YouTube channels.

In the case of Sadhana Broadcast, SEBI said that Arshad Warsi has made a profit of Rs 29.43 lakh and his wife have made a profit of Rs 37.56 lakh. Also, Iqbal Hussain Warsi has benefited by Rs 9.34 lakh. Explain that after receiving some complaints from SEBI, two orders came in which it was alleged that some institutions were selling price manipulation and shares by some institutions in the stock of television channels Sadhana Broadcast and Sharpline Broadcast in New Delhi.

Complaints alleged that misleading YouTube videos were uploaded with false content about two companies to woo investors. Following these complaints, the regulator tested it and then took action.

According to SEBI, Arshad and his wife were running a pump-and-dump game through YouTube channels. Midcap and smallcap stocks were influencing investors through incorrect information and used to run ed on their channels to attract a large number of people. In the latest case, YouTubers misled investors and raised the price of their shares over the TV channel Sadhana Broadcast.

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