The Securities and Exchange Board of India (SEBI) on Thursday barred 45 entities, including actor Arshad Warsi, his wife Maria Goretti and promoters of Sadhna Broadcast, from trading in the securities market.

The regulator has taken this step in the matter of posting misleading videos on YouTube channel suggesting investors to buy shares of the company.

This case is related to posting misleading videos on YouTube channel.

In these videos Sadhna Broadcast Ltd.

and Sharpline Broadcast Ltd.

It was advised to buy shares of

Apart from the Warsi couple, SEBI has also barred some of the promoters of Sadhna Broadcast from trading in the securities market.

Apart from this, the regulator has also ordered forfeiture of Rs 54 crore of illegal profit made to these units after posting misleading videos on YouTube channel in two interim orders.

In the case of Sadhna Broadcast, SEBI said that Arshad Warsi made a profit of Rs 29.43 lakh, while his wife made a profit of Rs 37.56 lakh.

Apart from this, Iqbal Hussain Warsi also wrongly earned a profit of Rs 9.34 lakh.

SEBI had received complaints that the value of shares of TV channel Sadhna Broadcast and Delhi's Sharpline Broadcast was being rigged by some entities.

Apart from this, these units are also withdrawing shares of the company.

The complaint alleged that these videos with misleading content were uploaded on YouTube to 'lure' investors.

Thereafter, the regulator examined the matter during April-September, 2022.

It was revealed in the investigation that during April to July 2022, there was a huge jump in the value and quantity of the shares of both the companies.

During the second fortnight of July 2022, false and misleading videos about Sadhna were uploaded on two YouTube channels - 'The Advisor' and 'Moneywise'.

Similar videos about Sharpline were uploaded on two YouTube channels Midcap Calls and ProfitYatra in the second fortnight of May.

After these videos, there was a huge jump in the share price and quantity of both the companies.

During this period some of the promoter shareholders, key management positions and non-promoter shareholders sold the shares at higher prices and made profits.

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