SEBI Bans Arshad Warsi, His Wife Maria Goretti And 57 Others From Securities Market In Sadhna Broadcast Case – Deets Inside

The Securities and Exchange Board of India (SEBI) has banned actor Arshad Warsi, his wife Maria Goretti, and 57 others from the securities market for one to five years. This decision follows their role in misleading YouTube videos that promoted buying shares of Sadhna Broadcast, now called Crystal Business System Ltd.

SEBI Bans Arshad Warsi, Wife From Securities Markets For Up To 5 Years

SEBI fined Warsi and Goretti Rs 5 lakh each and barred them from trading for one year. The other 57 people were fined between Rs 5 lakh and Rs 5 crore. All 59 individuals must return a total of Rs 58.01 crore in illegal profits, with 12% annual interest, until the full amount is paid.

SEBI found that Arshad Warsi made Rs 41.70 lakh and Maria Goretti made Rs 50.35 lakh from these activities. The main people behind the scheme were Gaurav Gupta, Rakesh Kumar Gupta, and Manish Mishra. Subhash Aggarwal, a director at the company’s registrar and transfer agent (RTA), helped connect Mishra with the promoters.

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Others involved allowed their accounts to be used for fraud. Peeyush Agarwal and Lokesh Shah played key roles by enabling stock manipulation. Jatin Shah helped carry out the plan, while others either supported the fraud or tried to make quick profits.

According to Sebi’s 109-page order, some acted as intermediaries, sharing false information or helping with trades without using their own accounts. The scheme had two main steps. First, insiders traded shares among themselves to raise the price and make the stock appear active. Because the stock was not traded much, even small trades affected the price.

Second, videos promoting the stock were released on YouTube channels like Moneywise, The Advisor, and Profit Yatra run by Manish Mishra. These videos made the stock look like a great investment and helped boost interest.

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Manisha Karki

Manisha has established a reputation for insightful and engaging storytelling with over six years of expertise in the industry. With a deep passion for cinema, she brings a unique perspective to her coverage, making it a trusted voice in the entertainment world.