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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Intend to allow feeding of pigeons for 2 hours in morning at Dadar Kabutarkhana: BMC to HC
Mumbai, Aug 13 (PTI): The city civic body on Wednesday told the Bombay High Court it intends to allow controlled feeding of pigeons for two hours each morning at the Dadar Kabutarkhana subject to conditions.
A bench of Justices G S Kulkarni and Arif Doctor, however, stated that before granting any such permission, the Brihanmumbai Municipal Corporation (BMC) has to first issue a public notice inviting objections and then take a decision on allowing controlled feeding of the birds at the popular site in Dadar.
Since the BMC's decision to close kabutarkhanas (pigeon feeding spots) in the city and prohibit feeding of pigeons was in larger interest of public health, the sanctity of the same has to be maintained, the court noted, while hearing a bunch of petitions.
Last week, tarpaulin sheets were placed at the Dadar Kabutarkhana, a popular pigeon feeding site, by the BMC to prevent people from offering grains to the birds, a move which had led to protest during which the covers were forcibly removed by agitators.
Pursuant to this, a few individuals submitted an application to the BMC seeking interim arrangements for controlled feeding of the pigeons.
On Wednesday, BMC counsel Ram Apte told the court the civic body intends to permit controlled feeding of the birds from 6 am to 8 am subject to certain conditions.
The bench then questioned if the civic body had first invited objections to the application (seeking nod for controlled pigeon feeding) before taking its decision.
"You (BMC) cannot just allow feeding now once you have already taken a closure decision keeping public health in mind. You will have to take a well considered decision," the HC observed.
Once an application is received, you need to issue a notice and invite objections from people and then take a decision. Once you have taken a decision keeping people's health in mind then you need to maintain that sanctity, the bench affirmed.
The Maharashtra government on Wednesday also submitted a list of 11 names to be part of a committee that would carry out a scientific study on the issue of pigeon feeding at public places and its impact on human health.
The court said the government shall notify the committee by August 20.
Advocate General Birendra Saraf, appearing for the state government, said the committee would comprise officials from state public health and town planning departments and medical experts.
The court was hearing a bunch of petitions filed by people who regularly feed pigeons at kabutarkhanas. The petitioners have challenged the civic body's decision to ban such feedings and close down kabutarkhanas in the metropolis over potential health hazards from the exercise.
The high court had last month refused to grant any interim relief to the petitioners, but had asked the civic authorities not to demolish any heritage kabutarkhanas. The court had also said the BMC could take action as per law against those feeding pigeons at public places.
The Supreme Court had earlier this week refused to intervene in the HC order.
Senior counsel Anil Sakhare, appearing for the petitioners who have sought permission to offer grains to pigeons at the Dadar Kabutarkhana, said once the BMC takes a decision permitting controlled feeding, then they would move the HC seeking modification of the earlier order refusing interim relief.
