Meet Nasiruddin Ansari, the influencer called 'Baap of Chart', who was banned by SEBI and fined Rs 17 crore

The Securities and Exchange Board of India (SEBI) has taken a stern stance against a social media influencer, Mohammad Nasiruddin Ansari, widely known as 'Baap of Chart.' Recently, SEBI imposed a ban on Ansari from the securities market, accompanied by a substantial fine of Rs 17.2 crore.

But who exactly is Mohammad Nasiruddin Ansari and what led to this severe action by SEBI?

Ansari is a self-proclaimed investment expert who used to provide stock recommendations under the moniker 'Baap of Chart' through platforms like X, Telegram, and YouTube. However, his actions did not go unnoticed by SEBI. Along with his associate Rahul Rao Padamati and their company Golden Syndicate Ventures, Ansari has been barred by SEBI until further notice.


According to SEBI's order, Ansari marketed his stock recommendations as educational training, but in reality, he was trying to sell them. As a result, SEBI has ordered all three entities to cease acting as investment advisors and from representing themselves as such, whether under the 'Baap of Chart' brand or otherwise.

It is important to note that this order is interim in nature and also serves as a show-cause notice for the banned entities.

During their investigations, SEBI discovered that Nasir and Padamati received money into their bank accounts for offering educational courses, even though they frequently made false claims about earning significant profits through trading. In fact, SEBI found that Nasir incurred substantial losses during the periods in which he boasted about making huge profits.

Ananth Narayan G, a whole-time member of SEBI, stated in the 45-page order, "In his videos and social media posts on 'courses' of Baap of Chart, Nasir repeatedly emphasized providing access to live trading during his courses." The order highlights that these entities violated SEBI's Prohibition of Fraudulent and Unfair Trade Practices and Investment Adviser rules. The order also acknowledges the risk of the entities diverting their alleged unlawful gains before any further directives for disgorgement or refund are passed. Therefore, SEBI deems it necessary to take action at this stage to prevent irreparable harm to the securities market and investors.

SEBI has been actively cracking down on unauthorized investment advisors who sell their stock recommendations under the guise of being financial influencers. Recently, the regulatory body issued a directive to regulated entities, urging them to disassociate from such entities.