The Securities and Exchange Board of India (SEBI) has taken strict action against Manish Mishra and his associates by conducting search-and-seizure operations at multiple locations, including Bengaluru and Delhi. The operation was carried out to investigate a suspected pump-and-dump scheme involving stock price manipulation through misleading YouTube videos. This development follows Mishra’s previous ban from the securities market after being found guilty in the Sadhna Broadcast scam.

SEBI’s Crackdown on Stock Manipulation

SEBI officials executed the raids last week after gathering intelligence on Mishra’s involvement in stock price manipulation. Sources estimate that the alleged scam may have generated illicit gains ranging between Rs 20-40 crore. The regulator is investigating how fake positive news videos were used to influence retail investors and inflate stock prices artificially.

Mishra’s Past Involvement in the Sadhna Broadcast Case

Mishra was barred from accessing the securities market following an order issued on October 31, 2023, for his role in the Sadhna Broadcast scam. That case gained significant media attention due to the involvement of celebrities like Arshad Warsi and Maria Goretti Warsi, who were also investigated. The scam involved the promotion of misleading stock recommendations through YouTube videos to lure unsuspecting investors.

SEBI’s Investigation into IPS Officer Patel

One of Mishra’s key associates, IPS officer Ravindra Dahyabhai Patel, was also subjected to SEBI’s recent search-and-seizure operations. Patel was not initially named in SEBI’s October 2023 order but was later issued a show-cause notice on January 9, 2024. He subsequently filed a settlement application on February 24, 2024, agreeing to pay a settlement amount of Rs 2.6 crore, including a disgorgement amount of Rs 1.9 crore, which was cleared on February 19, 2025. The latest SEBI operation comes just a month after Patel’s settlement order was issued on February 27, 2025.

How the Alleged Scam Worked

According to sources, the modus operandi was strikingly similar to the Sadhna Broadcast scam. The perpetrators would create misleading stock promotion videos and upload them on YouTube channels. These videos contained fabricated claims about stock prices skyrocketing, thereby influencing retail investors to buy the stocks. Once the stock prices inflated due to demand, the manipulators would offload their holdings, causing sharp price declines and losses for unsuspecting investors.

SEBI’s October 2023 order described how misleading videos on "The Advisor" and "Moneywise" YouTube channels pushed false narratives about Sadhna Broadcast. These videos, which garnered millions of views through paid promotions, disappeared once the stock manipulation was complete.

Impact on Investors and Market Integrity

The regulator’s latest action underscores its commitment to cracking down on fraudulent activities that exploit retail investors. With SEBI intensifying its surveillance, market participants engaging in stock manipulation will face stricter consequences.

For more updates on IPOs, market news, and investment insights, check out {Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi - Embed this Link under text - https://financesaathi.com/ipo.php} and {Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi - Embed this Link under text - https://financesaathi.com/}.

Join our {Trading with CA Abhay Telegram Channel - Embed this Link under text https://t.me/abhayvarn} for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & {Finance Saathi Telegram Channel - Embed this Link under text - https://t.me/financesaathi} for Regular Share Market, News & IPO Updates.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in {Choice Broking FinX - Embed this Link under text https://choiceindia.com/open-free-demat-account?=undefined&refercode=WlZY}