In a significant move, the Securities and Exchange Board of India (SEBI), the regulatory authority for India’s securities and commodity markets, has taken action to ban the use of ‘Baap of Chart’ in the securities market. This decision comes as a response to the devaluation of the market caused by unavoidable circumstances.
Renowned YouTuber Mr. Ansari, famous for providing valuable insights into trading and market strategies to help individuals make a profit, due to his various courses offered by him on stock market strategies he gained immense reputation. He offered various courses on various platforms which are conveniently accessible on both Google Play and the Apple App Store. This educational initiative is made possible through a collaboration with Bunch Microtechnologies Pvt Ltd (Bunch), underscoring Mr. Ansari’s commitment to sharing his expertise with a broader audience causes his own decline and sabi bans him for doing it.
SEBI, the regulatory body operating under the Ministry of Finance within the Indian government, has decided to implement a ban on ‘Baap of Chart’ in various circumstances that cannot be overlooked. This step is aimed at safeguarding the integrity and value of India’s securities market.
SEBI bans Baap of Chart from securities market, fines Rs 17 crore
The Securities and Exchange Board of India (Sebi) has taken strict action against Mohammad Nasiruddin Ansari, who operates a Twitter profile called ‘Baap of Chart.’ This profile is known for providing stock market buy and sell recommendations. However, Sebi has banned Ansari from the securities market due to his unauthorized activities.
Sebi’s decision comes with a financial penalty, as they have ordered Mr. Ansari to deposit a sum of 17 crore rupees. This significant amount was acquired through his educational courses on market strategy, which Sebi has deemed as illegal.
The regulator considers Ansari’s actions as misconduct and unusual activity in the stock market, warranting immediate action. This action emphasizes Sebi’s commitment to maintaining the integrity of the securities market and protecting the interests of investors.
SEBI Bans Baap of Chart Youtuber
The Securities and Exchange Board of India (SEBI) has issued an official notice regarding the actions of a well-known YouTuber, often referred to as the “Baap of Chart.” This YouTuber, Mr. Ansari, has been in the limelight for his stock market strategy videos, which attracted millions of views by promising viewers an easy way to make money without actual trading.
The SEBI’s official notice includes detailed information about Mr. Ansari’s alleged fraudulent activities, along with evidence in the form of screenshots from the various courses he offered across multiple online platforms. Mr. Ansari gained notoriety as a stock market specialist who claimed to help everyone profit in the stock market without engaging in actual trading.
However, his activities came under scrutiny due to their unusual and potentially fraudulent nature, prompting the SEBI to take immediate action. The regulatory body has demanded that Mr. Ansari deposit a staggering 17 crore rupees, representing the gains from his courses.
This case serves as a warning to individuals promising quick and effortless wealth in the stock market, highlighting the importance of adhering to legal and ethical standards in the financial sector.
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