NEW DELHI: The market regulator, Securities and Exchange Board of India (SEBI) has once again taken firm action against unregistered investment activities, barring YouTuber Ravindra Balu Bharti and his firm, Ravindra Bharti Education Institute, from accessing the securities market until April 4, 2025.
The regulator has ordered them to disgorge Rs9.5 crore in “unlawful gains” earned from their alleged unregistered advisory business.
SEBI’s case
Bharti, a financial influencer with over 10 million subscribers across two YouTube channels, used his platform to lure inexperienced investors with promises of high returns.
His firm operated by offering unregistered investment advice and executing trades without fully informing clients of risks, violating fiduciary duties and SEBI’s Investment Advisor (IA) regulations. Multiple plans were sold to the same clients, with little input allowed in trading decisions.
In addition to the market ban, SEBI imposed penalties of Rs15 lakh on Bharti and his associates for regulatory violations. The accused have been directed to halt all advisory services unless properly registered with SEBI​
Crackdown on finfluencers
This isn’t SEBI’s first action against finfluencers exploiting their platforms. In April 2024, the regulator barred financial influencer Subrat Sahu for a similar unregistered advisory scheme, requiring the disgorgement of Rs1.7 crore.
SEBI has also acted against firms like Profit Plug and others for misleading investors. These actions reflect SEBI’s increased vigilance to curb unregulated financial advice that exposes retail investors to significant risks​
Implications and warnings
The case highlights the growing accountability for finfluencers leveraging their reach to bypass regulatory norms. SEBI’s measures aim to protect investors while ensuring that all market participants adhere to legal frameworks.
Prospective investors are urged to verify an advisor’s credentials and registration status with SEBI before engaging in financial transactions.
This decisive step reinforces SEBI’s commitment to safeguarding the integrity of the securities market and protecting retail investors from malpractices.
