Securities and exchange board of india (SEBI) on Thursday, Bollywood actor Arshad Warsi, his wife Maria Gratti and 57 others have been banned from the security market for 1 to 5 years. SEBI has taken major action against all of them in a case related to misleading videos on YouTube channel. These people had recommended investors to buy shares of Sadhana Broadcast on YouTube channels. SEBI has imposed a fine ranging from Rs 5 lakh to Rs 5 crore on 57 other units, including promoters of Sadhana Broadcast (now Crystal Business System Limited). Let us tell you that Arshad Warsi has played a lead role in films like Munna Bhai MBBS, Ishqiya, Jolly LLB.
How much fine was imposed on Arshad Warsi and his wife Maria?
SEBI has banned Arshad Warsi and his wife Maria from the market and also imposed a fine of Rs 5-5 lakh. Not only this, in addition to the ban, SEBI has also directed these units to refund the total illegal earnings of Rs 58.01 crore with 12 percent annual interest till the date of real payment from the end of the investigation period. SEBI found that Arshad Warsi had earned a profit of Rs 41.70 lakh and his wife had earned a profit of Rs 50.35 lakh.
Who is the mastermind of this whole case
In the final order, SEBI found that the masterminds behind the whole matter were Gaurav Gupta, Rakesh Kumar Gupta and Manish Mishra. The order stated that Sadhana worked as a mediator among RTA director Subhash Aggarwal, Manish Mishra and promoters of RTA, Sadhana Broadcast Limited (SBL). SEBI said that these people were the main characters, who planned and implemented this rigging. In addition, the regulator found that Piyush Aggarwal and Lokesh Shah helped them use their controlled accounts for the rigging of promoters of Manish Mishra and SBL.
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