MUMBAI: Market regulator SEBI has barred Ravindra Bharti Education Institute, co-founded by finfluencer and YouTuber Ravindra Balu Bharti, from the securities market and directed to deposit Rs 12 crore "unlawful gain" earned from the alleged unregistered investment advisory business. It has been directed to deposit the amount to an interest-bearing escrow account created specifically for the purpose in a nationalised bank.

Additionally, the regulator has barred Ravindra Balu Bharti, his wife Shubhangi Ravindra Bharti and directors, Rahul Ananta Gosavi and Dhanashri Chandrakant Gosavi from the securities market. Ravindra Bharti has two YouTube channels named Bharti Share Market Marathi with 10.8 lakh subscribers and Bharti Share Market - Hindi with 8.22 lakh subscribers.

In its order, SEBI had said that Ravindra Bharti Education Institute was involved in imparting advice relating to investing in, purchasing, selling or otherwise dealing with insecurities or investment products in lieu of consideration, where investors were lured to take the advisory services by projecting returns in the range of 25 to 1,000 per cent.  The order also disclosed "how the investors' confidence has been compromised and how the systems are being abused for personal gains and attainments by entities like Noticee no. 1 by, devising mischievous ways to circumvent the provisions of laws for their personal enrichment but in detriment to the investors."