SEBI BARS Bollywood Actor Arshad Warsi, WIFE, others from Stock Market. Details here

Bollywood Actor Arshad Warsi, His Wife Maria Goretti and 57 others have been barred by the stock market regulator Securities and Exchanges Board of India Period of up to five years in a stock manipulation case.

The case Pertains to Sadhna Broadcast Ltd (SBL)-a Little-KNOWN Company Whose Shares WHERES WHERES WHERES WHERS Manipulation Scheme.

The case Pertaining to Sadhna Broadcast, Whose Name Was Changed on May 23, 2025, to Crystal Business System, is a textbook example of a “pump-dump” scam.

As part of the scam, the promoters of the company executed trades amselves in a highly coordinated manner, thus driving the stock price higher.

Sebi said that while these trades – often small in volume – Had a dispariation impact on price due to low liquidity, allowing the perpetrators to push the scrip upward with relatively minimal triding Outlay.

In the second part of their plan, they turned to promoting the stock through youtube channels, attracting retail investors to whom the shares Cold be sold at infused.

This was done by release Misleading Promotional Videos Across Several YouTube Channels, Including MoneyWise, The Advisor, and Profit Yatra – Shall Operated by Manish Mishra, Who Played A Central Rale in the Scheme.

These videos presented sbl as a promising investment options and was timed to coincide with and amplified artificial market activity, sebi said.

The claims pertained to the company signing a deal with adani group, or entering into a 1100 Crore Contract with a big American Corporation, to mutual fund buying in the stock. Sebi said in its orders that the contents of the video were False and Misleading and Were Uploaded to Manipulate the share price of sbl.

In a matter of nine months from March 2022 to December 2022, The Promoter ShareHolding Declined by 15% From 40.95% to 25.58%. During the same period, the number of public shareholders Increased From a Mere 885 to 72,509. The Public shareholding, resultantly, went up from 59.05% as of March 2022 to 74.52% as of March 2023.

Arshad Warsi’s Role in Sbl Scam

On July 13, 2022, Bollywood Actor Arshad Warsi Purchased 1.87 Lakh Shares of Sadhna Broadcast from Jatin Shah, a Known Associate in the Manipulation Network. On the same day, his wife maria goretti warsi acquired 2.65 Lakh Shares.

While Warsi Later Claimed That He Acted on A Friend’s Investment Tip And was unaware of any WrongDoing, Sebi Rejected that Defense as it Shared WhatsApp Chats Showing Scheme.

Sebi Action on Arshad Warsi & Others

Sebi noted that Arshad had made a profit of 41.70 Lakh, and His Wife Earned a Profit of 50.35 lakh. Both have been barred from accessing the seconds market for a period of a year.

Sebi, additionally, has directed 59 entities to disgorge total unlawful gains word 58.01 Crore Along With 12% Interest Per Annum Jointly and Several from the end of the investment period Till the date of actual payment.

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