Investment advisor Basant Maheshwari has been caught in regulatory crisis due to exaggeration in YouTube video caption. The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 4 lakh on Basant Maheshwari Wealth Advisors for alleged violations of Investment Advisory criteria and not following the advertising code.
In its order, SEBI has highlighted several flaws, including failure to conduct an annual audit by the firm and the practice of charging fees from customers in both fixed and asset under -advice (AUA) ways. Under existing rules, advisors are allowed to adopt only one fee structure. These findings have come out of the inspections conducted by SEBI between October and December 2023.
In Maheshwari’s YouTube video, 10 times in 10 years and 100 times in 20 years, how to do ?? Like captions include. How to double 1 crore? And how to make 150 crores just by trading? These things attracted the attention of the regulator.
Sebi found that these videos included links to Maheshwari’s smallcase portfolio, making them effectively classified as advertisements affecting investors.
First Published – March 26, 2025 | 10:14 pm IST
Related post
(Tagstotranslate) Sebi penalty basant maheshwari