Sebi Settlement: Ravindra Patel Resolves Sadhna Broadcast Case

Ravindra Dahyabhai Patel settled a case with Sebi involving manipulation of Sadhna Broadcast's share prices through misleading YouTube videos. He paid Rs 72.8 lakh and Rs 1.90 crore as settlement and disgorgement amounts, and agreed to a six-month securities trading ban.

On Thursday, Ravindra Dahyabhai Patel reached a settlement with India's market regulator, Sebi, in a case regarding Sadhna Broadcast Ltd share price manipulation. This involved misleading videos on YouTube to artificially influence the market.

Patel agreed to pay Rs 72.8 lakh as a settlement fee and an additional Rs 1.90 crore as disgorgement. Furthermore, he accepted a voluntary six-month debarment from trading in securities.

The move comes after Sebi's investigation, following complaints in 2022, revealed misleading content intended to skew stock prices. This led to an interim ban for 31 entities involved in March 2023.