SEBI orders YouTuber to deposit Rs 12 crore for illegitimate stock market training

The Securities and Exchange Board of India (SEBI) has directed financial educator Ravindra Balu Bharti, known for providing stock market training on YouTube, to transfer more than Rs 12 crore, earned through illegitimate means, into an interest-bearing Escrow Account in a nationalized bank. 

The order specifies that the Escrow account will hold the amount in SEBI’s favour, with no withdrawals permitted without the regulator’s consent. Ravindra Balu Bharti, along with his wife, Shubhangi Bharti, founded Ravindra Bharti Education Institute Pvt Ltd (RBEIPL) in 2016, primarily involved in imparting training related to stock market trading activities. 

SEBI has passed an interim order against RBEIPL, its directors, and others, prohibiting them from providing investment advisory services and acting as investment advisors. The order also impounds the total unlawful gain of INR 12,03,82,130.91 earned from the alleged unregistered investment advisory business. 

Two YouTube channels owned by Ravindra Bharti, with a substantial subscriber base, have also been highlighted.

Further, these entities have been directed “to cease and desist from offering investment advisory services from acting as or holding themselves out to be investment advisors”.

In October 2023, SEBI clamped down on unauthorized investment advisory services offered in the name of ‘Baap of Chart’ and barred three entities from the securities market and ordered impounding illegal gains worth over Rs 17 crore.

 SEBI’s action underscores its commitment to protecting investors’ interests and maintaining market integrity, emphasizing the importance of disclosure, transparency, and investor protection in sustaining confidence in the capital market.