The Securities and Exchange Board of India (SEBI) has imposed a ban on YouTube finfluencer Ravindra Balu Bharti and his company, prohibiting them from engaging in or accessing the securities markets until April 4, 2025, and has also fined them Rs 9.49 crore for "unlawful gains," as per a PTI report. Bharti and his three associates reportedly profited from an unregistered investment advisory business, operating under the name Ravindra Bharti Education Institute.

In addition to Bharti, SEBI also named three others in the ban: Shubhangi Ravindra Bharti, Rahul Ananta Gosavi, and Dhanashri Chandrakant Giri.

The SEBI Order

In its final order this month, the markets regulator stated that employees of Ravindra Bharti Education Institute had deceived inexperienced investors by offering unregistered investment advice and trade recommendations, the report added.

The company leveraged Bharti's social media presence on YouTube, where he runs two finfluencer channels with 1.08 million and 833,000 subscribers, respectively. According to the regulator's review, these channels were allegedly used to sell multiple plans to the same client while restricting their involvement in trade decisions. The clients were also not fully informed about the risks or given complete financial disclosures in agreements, violating fiduciary duties and IA Regulations.

The Consequences 

Based on the review, SEBI has directed Bharti and his company “to disgorge an amount of ₹9.49 crore on a joint and several basis, along with simple interest at the rate of 6 per cent”.

Also, the finfluencer, his company and three associates are barred from “accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, till April 4, 2025”.

In addition, they are prohibited from offering investment advisory services or acting as investment advisors, including under the names "Ravindra Bharti Education Institute Private Limited" or "Ravindra Bharti Wealth," unless registered with SEBI.

The regulator has also imposed a Rs 10 lakh fine on the five entities, along with an additional Rs 5 lakh penalty on Ravindra Bharti Education Institute, Rahul Ananta Gosavi, and Dhanashri Chandrakant Giri for the regulatory violations, as stated.