In a decisive move against unregistered stock market influencers, the Securities and Exchange Board of India (SEBI) has initiated Rs 18 crore recovery proceedings against Mohammad Nasiruddin Ansari, popularly known on social media as ‘Baap of Charts’, along with his associates Rahul Rao Padamati and Golden Syndicate Ventures Pvt. Ltd.
The action comes after SEBI found serious violations of securities laws, including unregistered investment advisory activities, misleading profit claims, and continued non-compliance with regulatory and tribunal orders. The total recoverable amount includes penalties, interest, statutory charges, and recovery costs.
Accounts Frozen, Assets Attached
Following the failure of the accused parties to comply with a demand notice issued on May 29, 2025, SEBI’s Recovery Officer passed an Attachment Order on July 8, 2025. Under this order:
◆All demat accounts, bank accounts, and mutual fund holdings of the defaulters have been frozen
◆Banks have been instructed to restrict access to lockers
◆Mutual fund houses have been directed to redeem units and transfer proceeds directly to SEBI
SEBI noted that available bank balances were insufficient, prompting further restrictions on the sale or transfer of both movable and immovable properties.
Misleading Social Media Claims Under Scanner
SEBI’s investigation revealed that Ansari used his large social media following to market paid trading courses and stock market training programmes, presenting himself as an expert trader. The regulator observed that his promotional content created an impression of assured or near-guaranteed profits, which is prohibited under securities laws.
SEBI clarified that such activities squarely fall under investment advisory services, which require mandatory registration. Offering these services without authorisation amounts to a direct violation of SEBI regulations.
Earlier Market Ban Ignored
In 2023, SEBI had already barred Ansari from accessing the securities market, citing similar violations. However, the regulator noted that the prohibited activities allegedly continued, and outstanding dues remained unpaid, necessitating stricter recovery measures.
SAT Order Also Violated
The recovery action also extends to Rahul Rao Padamati, who was directed by the Securities Appellate Tribunal (SAT) on September 9, 2025, to deposit ₹1.20 crore, representing 50% of the amount received by him. SEBI stated that the SAT directive was not complied with within the stipulated four-week period, leading to attachment of his assets as well.
Clear Warning to Finfluencers
Market experts see this enforcement action as a strong regulatory message to unregistered finfluencers operating across digital platforms. SEBI reiterated that investor protection is paramount and warned that social media-based claims of quick or guaranteed returns pose serious risks to retail investors.
The regulator urged investors to verify SEBI registration status before acting on any financial advice and to remain cautious of online personalities promising unrealistic profits.
