Sebi launches Rs 18 crore recovery proceedings against ‘Baap of Charts’ finfluencer, others

Market regulator Securities and Exchange Board of India (Sebi) has initiated recovery proceedings against finfluencer Mohammad Nasiruddin Ansari, popularly known as the ‘Baap of Charts’ (BoC), along with Rahul Rao Padamati and Golden Syndicate Ventures Pvt. Ltd., after they failed to pay their dues. The total outstanding amount now stands at around Rs 18 crore, including interest, costs, expenses and other charges.

Sebi’s crackdown on Ansari and his firm follows a 2023 ban from trading in the securities market.

The regulator found Ansari acting as an investment adviser without registering with it. In the October order, the market watchdog held that Ansari 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 inducing them to invest in securities market by promising them the prospect of making profits with near certainty if the recommendation is followed.

Sebi issued demand notices to them on May 29, 2025 demanding payment of the amount along with interest, costs, and expenses, within 15 days of receiving the notice.

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Moreover, the Recovery Officer had issued an Attachment Order on July 08, 2025 in respect of all demat accounts/all funds/folios/schemes held by the them. The officers also attached the defaulters’ bank accounts including lockers, via a separate order.

Sebi issued another order on August 22, 2025 directing the banks to remit the amount available in the defaulters’ bank accounts to Sebi.The Mutual Funds were also directed to redeem the units of mutual funds held in their name and to remit the amount to Sebi.

Also Read: Sebi fines ‘Baap of Chart’ Rs 17.2 crore

“The Hon’ble SAT, through an order issued on September 9, 2025, directed Mr. Rahul Rao Padamati to remit 50% of the funds he received, amounting to Rs. 1.20 Crores, within a period of four weeks from the date of the aforementioned order. Nevertheless, Mr. Rahul Rao Padamati has failed to comply with this directive,” a four-page order issued on Monday said.

The Sebi order also noted that the amount in their bank account was insufficient to pay their dues in full, thus prohibiting them from disposing, transferring, alienating, or charging all the immovable and movable properties they held.

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