- SEBI has taken action against the operator of the ‘Baap of Chart’ online account, ordering the disgorgement of INR 17.2 crore.
- The operator of ‘Baap of Chart’ is alleged to have misled investors by providing trading recommendations that were based on misleading and false information.
- The ‘Baap of Chart’ account has a substantial online following, with over 4.43 lakh subscribers on YouTube and 83,000 followers on X (formerly Twitter).
- The operator purportedly offered trading recommendations under the guise of educational courses. These courses were chargeable.
- SEBI’s order emphasized that the operator provided trading recommendations to numerous online users, using educational courses as a cover, while also charging for these services.