Did SEBI ban Arshad Warsi, see complete controversy here- Watch Video

The Securities and Exchange Board of India (SEBI) on Thursday banned 45 entities, including actor Arshad Warsi and his wife Maria Goretti and promoters of Sadhna Broadcast, from securities market business. The regulator has taken this step in the matter of posting misleading videos on YouTube channel suggesting investors to buy shares of the company.

Why Arshad Warsi Banned by SEBI?

This case is related to posting misleading videos on YouTube channel. In these videos Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd. It was advised to buy shares of Apart from the Warsi couple, SEBI has also barred some of the promoters of Sadhna Broadcast from trading in the securities market.Apart from this, the regulator has also ordered forfeiture of Rs 54 crore of illegal profit made to these units after posting misleading videos on YouTube channel in two interim orders.

Manipulation of share prices

In the case of Sadhna Broadcast, Sebi said Arshad Warsi made a profit of Rs 29.43 lakh, while his wife made a profit of Rs 37.56 lakh. Apart from this, Iqbal Hussain Warsi has also earned Rs 9.34 lakh wrongly. SEBI had received complaints that the value of shares of TV channel Sadhna Broadcast and Delhi's Sharpline Broadcast was being rigged by some entities. Apart from this, these units are also withdrawing shares of the company.