Influencer Ravindra Balu Bharti Ordered To Pay Rs 12 Crore. Here's Why
NDTV
The finfluencer in question, identified as Ravindra Balu Bharti, has been instructed by SEBI to deposit the Rs 12 crore into an interest-bearing Escrow Account held in a nationalised bank.
Market regulator Securities and Exchange Board of India (SEBI) has asked a financial influencer (finfluencer) to return unlawfully obtained gains amounting to over Rs 12 crore. This comes as a significant move to safeguard investor interests and uphold market integrity amidst growing concerns about fraudulent practices in the securities market.
The finfluencer in question, identified as Ravindra Balu Bharti, has been instructed by SEBI to deposit the Rs 12 crore into an interest-bearing Escrow Account held in a nationalised bank. The creation of this Escrow Account serves to secure the funds under SEBI's jurisdiction, ensuring they cannot be released without explicit permission from the regulatory body.
Ravindra Balu Bharti is the founder of Ravindra Bharti Education Institute Pvt. Ltd. (RBEIPL), a company he co-founded in 2016 alongside his wife, Shubhangi Bharti. RBEIPL reportedly engages in educational activities related to stock market trading, operating through a website titled "Bharti Share Market"
