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Why has SEBI taken action against Arshad Warsi, his wife & his brother?
short by Pragya Swastik / on Friday, 30 May, 2025
SEBI banned actor Arshad Warsi, his wife Maria and Arshad's brother Iqbal from the market for one year and fined them ₹5 lakh each for a pump-and-dump scheme regarding Sadhna Broadcast Limited (SBL) shares. SBL's share price, which now trades at ₹2.60, was pushed to ₹33 through collusive trading and aggressive promotion. It was followed by coordinated sell-off by promoters.
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