SEBI’s investigation had revealed that Nasir, promoting himself as a stock market expert, was luring investors to enrol on various educational courses offered by him and inducing them to invest in the share market by promising them the prospect of making profits with near certainty if the recommendation or advice was followed.

The Securities and Exchange Board of India (SEBI) has intensified its regulatory clampdown on financial influencers (finfluencers), taking decisive action against Mohammed Nasiruddin Ansari, better known by his online alias ‘Baap of Chart.

Intensifying its crackdown on finfluencers, Sebi restrained seven entities, including Mohd Nasiruddin Ansari of 'Baap of Chart'

Since August, SEBI has issued orders, including demand and recovery proceedings orders, against over 12 entities for unregulated investment advisory violations.

The market regulator has set a three-month deadline for the refunds, with clear instructions for the repayments to be made via bank transfers that maintain an audit trail.