Arshad Warsi along with his wife Maria Goretti are among 45 individuals and companies barred by the Securities and Exchange Board of India (SEBI) from participating in the securities market. After facing a lot of flak on social media, the actor issued a clarification on it and urged people to ‘don’t believe everything you read’.
Actor, YouTuber Manish Mishra and promoters of Sadhna Broadcast – Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Agarwal and Varun Media were banned from the securities market in a case related to uploading misleading videos on YouTube channels, in which investors were cheated. The company’s shares were recommended to buy. , As per the interim order, Arshad Warsi made a profit of Rs 29.43 lakh, Maria Goretti made a profit of Rs 37.56 lakh.
However, Arshad took to Twitter and mentioned that he and his wife do not have stock market knowledge. He tweeted, “Please don’t believe everything you read in the news. I have zero knowledge of Maria and stocks, took advice and invested in Saradha and like many others, all our hard earned money.” lost.”
The probe began after SEBI received complaints alleging that certain entities were involved in price manipulation and offloading of shares of Sadhna Broadcast Limited and Sharpline Broadcast Limited.
What is the matter with SEBI?
SEBI observed that certain persons uploaded false and misleading videos advising investors to buy shares of Sadhna Broadcast Limited and Sharpline Broadcast Limited at extraordinary profits. Besides Arshad Warsi and Maria Goretti, some promoters of Sadhna Broadcast Ltd have also been debarred from participating in the securities market.
Along with the ban, SEBI has seized illegal gains of Rs 54 crore made by entities after misleading videos were uploaded on YouTube channels. Two separate interim orders detail the findings of the inquiry.
As per the interim order, Arshad Warsi made a profit of Rs 29.43 lakh, Maria Goretti made a profit of Rs 37.56 lakh and Iqbal Hussain Warsi made a profit of Rs 9.34 lakh. These three persons, among others, have been classified by SEBI as volume creators.
The probe began after SEBI received complaints alleging that certain entities were manipulating and selling shares of Sadhna Broadcast Limited and Sharpline Broadcast Limited. The complaints alleged that misleading videos containing false content about the two companies were uploaded to lure investors.
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