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📊 SEBI vs Finfluencers & Jane Street Case – Complete Analysis (2022–2025)
पिछले कुछ सालों में SEBI ने Finfluencers, TV Experts और Global Trading Firms पर कड़े action लिए हैं 🚨 | नीचे पूरी Detail दी गई है ⬇️
🧭 Table of Contents
🧑💼 1) P.R. Sundar Case (May 2023)
- Violation: बिना SEBI Registration के Investment Advisory Services चलाना।
- Case Background: P.R. Sundar YouTube और Social Media पर Option Trading Strategies Share करते थे और साथ ही Paid Advisory Services भी Offer कर रहे थे।
SEBI Action:
- 1 साल का Ban लगाया गया।
- Settlement: ₹46.80 lakh.
- Disgorgement (Unlawful Gains Return): ₹6 Crore.
Industry Impact: Is Order Ke Baad कई Finfluencers ने Paid Advisory बंद की या Compliance Adopt किया.
👨⚖️ 2) Ravindra Balu Bharti & Associates (2024–2025)
- Violation: Fraudulent Trading Practices और बिना Registration Advisory
SEBI Action:
- Ban till April 2025.
- ₹9.49 Crore Disgorgement.
- ₹12.03 Crore Escrow Deposit (Money to be Returned to Investors).
Learning: बिना SEBI Registration Advisory देना illegal है—Strict Liability.
RAVINDRA BALU BHARTI
🐺 3) Asmita Patel – “She-Wolf of Stock Market” (2025)
- Background: खुद को “India’s First Female Trading Coach” बताकर Huge Following बनाई।
- Violation: Fake Profit Screenshots, Paid Courses और Misleading Claims
SEBI Action:
- Bank Accounts Freeze worth ₹53.67 Crore.
- Show-Cause Notice for ₹104 Crore.
- ₹33 Crore Penalty Imposed.
Action: Freeze Orders worth ₹53.67 Crore + Show-Cause for ₹104 Crore.
Penalty: ₹33 Crore Fine.
Highlights: Misleading Claims, Paid Workshops—Retail Ko Heavy नुकसान
🎬 4) Arshad Warsi & Maria Goretti (Pump-and-Dump)
- Background: Bollywood Actor Arshad Warsi और उनकी Wife पर आरोप लगे कि उन्होंने YouTube Stock Tips के जरिए Small-Cap Stocks Pump किए और फिर बेचकर Profits कमाए।
SEBI Action:
- Market Ban up to 5 years.
- Unlawful Gains of ₹92 Lakh + ₹10 Lakh Penalty.
Lesson: Celebrities के नाम से चल रहे Stock Tips Blindly Follow करना खतरनाक है।
📺 5) Zee Business Guest Experts Scam (2024–2025)
Issue: कई Guest Experts On-air Buy Recommendation देते थे लेकिन खुद उसी समय Opposite Trades कर रहे थे।
👉 Feb 2024 Interim Order
- 15 Guest Experts Banned Issue: On-air Recommendation vs Opposite Trades
- ₹7.41 Crore Unlawful Gains.
👉 July 2025 Final Order
- 4 Entities को Final Ban (Partha Dhar, SAAR Commodities आदि)।
- ₹4 Crore Penalty.
- List of Guest Experts : Simi Bhaumik, Mudit Goyal, Himanshu Gupta, Ashish Kelkar, Kiran Jadhav, Ramawatar Lalchand Chotia, SAAR Securities India Pvt Ltd, SAAR Commodities Pvt Ltd,Ajay kumar Ramakant Sharma, Rupesh Kumar Matoliya, Nitin Chhalani, Kanhya Trading Company, Manan Sharecom Pvt Ltd, Partha Sarathi Dhar, Nirmal Kumar Soni
Himanshu Gupta Cleared After Review.
Impact: यह Case दिखाता है कि TV पर आने वाले हर Expert की बात भरोसेमंद नहीं होती।
📢 6) Sanjiv Bhasin Front-Running Case (2025)
- Background: Zee Business के Popular Panelist Sanjiv Bhasin पर आरोप कि उन्होंने TV Recommendations और Telegram Channel के जरिए Front-Running किया।
SEBI Action:
- June 2025: ₹11.37 Crore Impounded.
- Ban from Securities Market.
- SAT Appeal:
- Securities Appellate Tribunal (SAT) ने Partial Relief दिया।
- ₹1 Crore Deposit के बाद Limited Trading Allow किया गया।
- Background: U.S. Based Quant Trading Firm Jane Street पर आरोप कि उन्होंने Bank Nifty और Nifty Expiry Days पर Derivatives Manipulation किया।
- Scale of Manipulation:
- ₹36,502 Crore Profits (Mainly Options).
- Heavy Volume Expiry-Day Trades.
SEBI Action:
- July 3, 2025: Interim Ban on 4 Entities.
- ₹4,843 Crore Impounded.
- Later Allowed Trading After ₹4,840 Crore Escrow Deposit.
Impact on Indian Markets:
- Intraday Trading Limits Review.
- Index Structure Reforms Discussion.
- Highlight: पहली बार किसी Global Quant Firm पर इतना बड़ा Indian Action 🚦
📑 Summary Table
| Case | Timeframe | Action | Penalty / Details |
|---|---|---|---|
| P.R. Sundar | May 2023 | 1-year ban | ₹46.80 lakh + ₹6 crore disgorgement |
| Ravindra B. Bharti | 2024–2025 | Ban till Apr 2025 | ₹9.49 cr + ₹12.03 cr escrow |
| Asmita Patel | 2025 | Freeze & Notice | ₹33 cr fine; ₹53.67 cr freeze |
| Arshad Warsi & Maria | 2023–2025 | Ban up to 5 yrs | ₹92 lakh + ₹10 lakh fine |
| Zee Business Experts | 2024–2025 | Interim & Final bans | ₹7.41 cr gains; ₹4 cr fine (4 entities) |
| Sanjiv Bhasin | 2025 | Ban + SAT appeal | ~₹11.37 cr impounded; partial relief |
| Jane Street | 2025 | Ban, Escrow, Resume | ₹4,843 cr impounded; gains ~₹36,502 cr |
✅ Investor Tips
- TV/YouTube/Telegram recommendations पर Blindly Trust ना करें—पहले Risk समझें।
- Sirf SEBI-Registered Advisors की Services लें; DIY Research करें (Annual Reports, Filings).
- Position Sizing, Stop-Loss, और Risk Management को Priority दें।
Disclaimer: यह लेख शैक्षणिक उद्देश्य के लिए है; यह investment Advice नहीं है.
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