Sebi bans YouTuber Ravindra Balu Bharti for illegal market activities, orders refunds of Rs 9.5 crore 

Capital markets regulator Securities and Exchange Board of India (Sebi) has banned YouTuber Ravindra Balu Bharti as part of its ongoing crackdown on unregistered investment advisory services. Bharti was operating the Ravindra Bharti Education Institute, which was not registered with the regulatory body.

With a strong online following of over 1.9 million subscribers across two YouTube channels, Bharti allegedly used his platform to provide unregistered investment advice and trade recommendations.

In its investigation, SEBI found that Bharti and his company lured inexperienced investors by promoting high-return investment schemes without adequately disclosing the associated risks. They also sold multiple investment plans to individual investors, restricting their decision-making autonomy.

As a result, SEBI has barred Bharti and his company from participating in the securities market until April 4, 2025. They are required to return Rs 9.5 crore earned through these illegal activities and are prohibited from offering investment advisory services without proper SEBI registration. Additionally, Bharti and his associates have been fined Rs 10 lakh.

This follows SEBI’s earlier crackdown on ‘Baap of Chart,’ a popular social media platform in the trading community. SEBI had ordered Nasiruddin Ansari and his associates, who ran the platform, to refund investors who had availed of their advisory services. They were also barred from accessing the securities market for violating regulations related to unregistered investment advisory services.

SEBI has also directed Ansari and his associates to open an escrow account and deposit Rs 17 crore, which will be used exclusively to refund investors and complainants who had availed of their investment advisory services.

In June, the regulator introduced finfluencer norms, prohibiting regulated entities like brokers from dealing with them. The decision was made at SEBI’s board meeting on Thursday.

Under these norms, SEBI-regulated entities and their agents are prohibited from directly or indirectly associating with individuals who provide advice or recommendations regarding securities. Additionally, these entities cannot engage in any transactions involving money, client referrals, interaction of information technology systems, or any other form of association with unregulated entities.

Also Read: Year-ender 2024: Gold outshines Sensex and Nifty with 20% returns, but 2025 may be different. Here’s why

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