Subhechcha Ganguly 
In cases involving the manipulation of the share prices of two companies through the uploading of deceptive videos on YouTube channels, Bollywood actor Arshad Warsi, known for his performances in films like “Munna Bhai MBBS,” “Golmaal,” and “Ishqiya,” and 44 other people, including his wife Maria Goretti, have been banned from the securities market for one year. Through an order, SEBI has prohibited them from the market following an investigation into the issues raised by the PFUTP Rules 2003 of the SEBI Act, 1922.
The shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd. are involved in these share pump-and-dump incidents. In order to entice investors, false videos were allegedly posted on YouTube channels urging viewers to purchase shares in the two companies. In addition to the ban, SEBI has seized unlawful earnings totaling Rs 54 crore that the firms made as a result of deceptive movies being posted on YouTube channels. The results of the investigation are described in two distinct interim orders.Arshad Warsi made a profit of Rs. 29.43 lakh, Maria Goretti made a profit of Rs. 37.56 lakh, and Iqbal Hussain Warsi made a profit of Rs. 9.34 lakh, according to the interim order. SEBI has designated a number of people, including these three, as volume makers.After that, the regulator carried out an investigation between April and September 2022 and discovered that the two companies’ scrip prices and volumes spiked between April and mid-July 2022.
Arshad Warsi made a profit of Rs. 29.43 lakh, Maria Goretti made a profit of Rs. 37.56 lakh, and Iqbal Hussain Warsi made a profit of Rs. 9.34 lakh, according to the interim order. SEBI has designated a number of people, including these three, as volume makers.After that, the regulator carried out an investigation between April and September 2022 and discovered that the two companies’ scrip prices and volumes spiked between April and mid-July 2022.
