New Delhi, October 26, 2023 – Nasiruddin Ansari, popularly known as “Baap of Chart,” a prominent figure in the Indian stock market, has been barred by the Securities and Exchange Board of India (SEBI) from participating in the country’s financial markets. The regulatory body’s decision comes after Ansari’s involvement in multiple market violations.
Ansari, a well-known trader and financial influencer on social media, gained fame for his stock market analysis and investment strategies, amassing a significant following on various online platforms.
SEBI’s investigation into Ansari revealed multiple instances of market manipulation, insider trading, and spreading misleading information to influence stock prices. These violations have raised concerns about the integrity and fairness of the Indian financial markets.
In a statement, SEBI announced its decision to bar Ansari, saying, “SEBI’s action is a result of serious market violations committed by Nasiruddin Ansari, which have caused harm to the market’s integrity and investors. The regulatory body is committed to maintaining transparency and trust in the financial markets.”
Ansari’s social media accounts, which had thousands of followers, have also been suspended following the SEBI order. The regulator has warned that anyone found violating this ban could face severe consequences.
The case of Nasiruddin Ansari highlights the growing influence of social media and online platforms in the world of finance and the need for stricter oversight to prevent market manipulation and protect investors. The SEBI’s decision sends a strong message about its commitment to maintaining the integrity of India’s financial markets.
Investors and the public are closely watching this development, as it underscores the importance of ethical trading practices and the consequences of market violations in the digital age.