SEBI acts against finfluencer 'Baap of Charts', seeks ₹18cr recovery
What's the story
The Securities and Exchange Board of India (SEBI) has initiated recovery proceedings against Mohammad Nasiruddin Ansari, the owner of 'Baap of Charts' (BoC). The regulator is seeking to recover dues of ₹21 lakh from Ansari and ₹17.90 crore from his company Golden Syndicate Ventures. The action comes after a crackdown on Ansari in 2023 when he was barred from trading in the securities market.
Hidden losses
Ansari's hidden trading losses and SEBI's crackdown
Ansari and his team reportedly hid a ₹3 crore loss in securities market trading over 2.5 years from their clients. Under the name of Baap of Charts, Ansari was allegedly duping investors under the pretext of providing educational training related to the securities market, promising guaranteed returns. He was also providing investment advisory services without any SEBI registration through social media, violating provisions of SEBI Regulations 2013.
Recovery measures
SEBI's directive for recovery and property attachment
On August 22, 2025, a recovery officer had ordered banks to transfer amounts available in defaulters' bank accounts to SEBI. Mutual funds were also directed to redeem units held in the names of defaulters and remit the amount to SEBI. The latest directive from December 15 notes that if amounts realizable through remittances from bank accounts aren't adequate, it's necessary to prohibit defaulters from disposing or transferring their properties.
Property disclosure
SEBI's order on property details and title deeds
The latest order also directs defaulters to provide complete details of all movable and immovable properties held by them, along with original title deeds of immovable properties, within two weeks. This comes as part of SEBI's ongoing efforts to recover dues from Ansari and his company Golden Syndicate Ventures in connection with their alleged violations in the securities market.