SEBI bans YouTuber Ravindra Balu Bharti for investment scam, fines ₹9.5 crore
New Delhi: The Securities and Exchange Board of India (SEBI) has barred YouTuber Ravindra Balu Bharti and his company, Ravindra Bharti Education Institute, from accessing the securities market until April 4, 2025. The action follows allegations of running an unregistered investment advisory business.
SEBI has also directed Bharti and his firm to refund ₹9.5 crore earned through unauthorised activities. Bharti, who has over 19 lakh subscribers across two YouTube channels, reportedly lured inexperienced investors with trade recommendations, investment advice, and execution services.
According to SEBI, Bharti’s company promoted "high returns" without disclosing associated risks and operated without mandatory registration. The regulator highlighted manipulative tactics, including selling multiple investment plans to individual investors, limiting their autonomy in decision-making.
In addition to the repayment order, SEBI has imposed a ban on Bharti, his company, and associates from engaging in any securities market activity until April 2025. They are also prohibited from offering investment advisory services without proper registration. A further penalty of ₹10 lakh has been levied on Bharti and his associates.
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BJP's Siroya seeks probe into ex-minister's claim of vote purchase to help Siddaramaiah win in polls
Bengaluru (PTI): BJP Rajya Sabha member Lahar Singh Siroya has urged the Election Commission to take note of former Union Minister C M Ibrahim's reported remarks on the alleged purchase of votes during the 2018 Karnataka Assembly elections to help Siddaramaiah win from Badami segment.
In a letter to the ECI on Tuesday, the Rajya Sabha member said Ibrahim, who was Siddaramaiah's close associate and advisor for decades, has said that he, along with senior Congress leader B B Chimankatti, helped purchase 3,000 votes in 2018, so that Siddaramaiah could scrape through the assembly election from the Badami seat.
Siddaramaiah has reportedly denied Ibrahim's charges.
In a post on 'X', Siroya said, "In the final count, Shri Siddaramaiah's victory margin in Badami was a mere 1696 votes. It was a humiliating margin for a sitting chief minister. The NOTA votes, which were 2007, were higher than his victory margin."
Siroya said Ibrahim, who was a "prominent Congress leader in 2018 and by all references and claims, was in charge of his friend's election," must explain the source and method of the alleged vote purchase.
"Ibrahim will do us a great favour if he tells us how, and from whom, he purchased the 3,000 votes to save his friend. He has also said Shri. Siddaramaiah had paid for this purchase, but took six months to make the payment.
The #ECI may want to take note of this claim of gross electoral corruption from someone who has been a lawmaker and a union minister himself, and order an investigation."
Siroya recalled that Siddaramaiah had defeated BJP candidate B Sriramulu in Badami.
"Perhaps Sriramulu also has some information and insight on how the 3000 votes were purchased. If he speaks, we'll know more on what happened in 2018 when he had contested from two seats, and would have practically won both the seats if this vote purchase had not happened," he said.
Siroya also raised questions about Siddaramaiah's narrow victory in the 2006 Chamundeshwari by-election.
"Now that Ibrahim has spoken about Siddaramaiah's narrow victory in Badami in 2018, he should also open up on the 2006 by-election of Siddaramaiah from the Chamundeshwari assembly constituency. Then too he was his close friend and strategist," he pointed out.
Siroya further said that in 2006, Siddaramaiah fought his first election, after he joined the Congress and his victory margin was only 257 votes.
"Were votes purchased even then? Congress was in power in Delhi. Did they manage a victory for Siddaramaiah then? Who were the officers who conducted that election?" he asked.
Hitting out at Congress leader Rahul Gandhi, Siroya said: "Anyway, @RahulGandhi, by coming to Bengaluru a few days back, and making wild allegations about electoral rolls, has opened up a can of worms. His party men, including his CM, are more affected than anybody else. We should thank Rahul Gandhi for coming to Bengaluru because what he has ultimately done is destabilise his own government."
The MP said that Rahul is known for his self-goals and this will count as a big one.
"Co-operation Minister KN Rajanna's un-democratic sacking because he contradicted Shri. Rahul Gandhi is the beginning of the Congress' fall in Karnataka," he stated.
K N Rajanna was sacked as Cooperation Minister on Monday for blaming the Congress government for the bogus voting in the 2024 Lok Sabha election.
