Placeholder canvas

Bollywood Actor Arshad Warsi Banned From Indian Stock Market

Date:

Bollywood star Arshad Warsi, issued a clarification on Twitter on Thursday after the Securities and Exchange Board of India (SEBI) banned the actor and his wife Maria Goretti from the securities market.

Actor Arshad Warsi and his wife, are among 45 individuals and companies banned by the Securities and Exchange Board of India (SEBI) for allegedly “manipulating share prices” of two companies by uploading “misleading videos” on YouTube channels. YouTuber Manish Mishra and Sadhna Broadcast promoters Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media also were part of the banned entities.

The interim order said that the actor and his wife together – classified as volume creators by the capital markets regulator – earned a profit of Rs 66.99 lakh through their investments. While Warsi made Rs 29.43 lakh, Goretti earned Rs 37.56 lakh.

The actor said that he and his wife don’t understand how the stock market works since they have “zero” knowledge about the same. In his tweet, Warsi said that he took advice before investing with the promoters (and got their name wrong in his post), and lost their “hard-earned money.”

“Please do not believe everything you read in the news. Maria and my knowledge about stocks are zero, took the advice and invested in Sharda, and like many others, lost all our hard-earned money,” his tweet reads.

The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd by uploading misleading videos on YouTube channels, newswire ANI report said.

Click here for Latest News updates and viral videos on our AI-powered smart news

For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

India’s ‘Election King’ Prepares For 239th Bid Despite Record Of Defeats

New Delhi: K Padmarajan, a 65-year-old tyre repair shop...

Robert F. Kennedy Jr Chooses Nicole Shanahan As His Running Mate For 2024 Polls

Nicole Shanahan, 38 is a California lawyer and philanthropist, and brings fresh energy to Kennedy Jr's bid, focusing on issues such as women's reproductive science, criminal justice reform and environment

US Reiterates Call For Fair Legal Process On Kejriwal’s Arrest; Mentions Cong’s Frozen Accounts

New Delhi: The United States reaffirmed its stance on...

NewsMobile Morning Brief

Delhi HC Seeks ED Response To Arvind Kejriwal’s Plea...