The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.
SEBI prima facie found that Ansari was inducing clients by guaranteeing profits ranging from ₹3 lakh to ₹6 lakh and also providing buying recommendations in violation of SEBI Regulations.
Sebi observed that the finfluencer was promoting himself as a stock market expert on various social media platforms and luring investors to enrol for various ‘educational courses offered by him and induced them to invest in securities market by convincing them about the prospect of making profits with near certainty if the recommendation is followed.
Mohit Manghnani SEBI Case: Mohit Manghnani has been prohibited from participating in the securities markets for a substantial period of five years. In addition to this, he has been levied with a substantial fine amounting to Rs 30 lakh - SEBI Bans Individual From Securities Markets For 5 Years; Here s Why
Under the new framework, Sebi has introduced incentives for large corporates in case of surplus in the requisite borrowings and moderated disincentives if they fail to raise at least 25 per cent of their incremental borrowings through debt securities.