SEBI uncovers pump-and-dump operation in Sadhna Broadcast case
By Neeraja Gopalakrishnan in Media News on Tuesday, 03rd June 2025 at 1:39pmSEBI has barred multiple individuals and entities from the securities market after exposing a pump-and-dump scheme involving Sadhna Broadcast Ltd (SBL). The investigation, led by Whole Time Member Ashwani Bhatia, found that a group of connected and popular "finflluencers" alllegedly manipulated the stock’s price and volume through synchronised trading and misleading YouTube videos.
Between April and July 2022, SBL’s stock rose from Rs 2.50 to Rs 13.05 without any fundamental justification. SEBI concluded the spike was driven by false promotions on YouTube channels such as “The Advisor” and “Moneywise,” which falsely claimed major investor interest.
Actor Arshad Warsi, his wife and his brother were allegedly found to have traded SBL shares under the direction of Manish Mishr...
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