Archive · 7 Aug 2025
SAT Grants Arshad Warsi Relief in Stock Manipulation Case
Imagine a famous actor, Arshad Warsi, was accused of helping some people make the price of a company's stock go up unfairly.
The people who watch over the stock market said he couldn't trade stocks for a while and had to pay a fine.
But, he argued this, and a special court agreed to pause the punishment until they decide if he did anything wrong.
He has to put some money in a special account while they figure things out.
The case is about a company called Sadhna Broadcast, and the court will hear more arguments in 2025.
SAT has stayed the disgorgement and debarment order against Arshad Warsi in a stock manipulation case.
Warsi, his wife, and brother must deposit ₹60 lakh in an escrow account.
The case involves alleged stock manipulation of Sadhna Broadcast Ltd (SBL).
Warsi was initially penalized and barred from trading by SEBI, the markets regulator.
The tribunal will next hear the case on September 15, 2025.
- Who
- Arshad Warsi, his wife Maria Goretti, and brother Iqbal Warsi are involved in the case.
- What
- SAT stayed the order against Arshad Warsi in a stock manipulation case.
- When
- The next hearing is scheduled for September 15, 2025.
- Where
- The Securities Appellate Tribunal (SAT).
- Why
- To review the accusations of stock manipulation.
Arshad Warsi's Perspective
SEBI's Perspective
Role in Market Manipulation
Arshad Warsi's Perspective
Warsi's counsel argued that the evidence, primarily a screenshot of WhatsApp chats, did not prove that Warsi facilitated market manipulation or actively aided the accused.
SEBI's Perspective
SEBI's order categorized Warsi as a "connected entity" to content creators and alleged that he played a facilitative role in market manipulation.
- Actor Involved
- Arshad Warsi
- Company in Question
- Sadhna Broadcast Ltd (SBL)
- Regulator
- SEBI
- Penalty Amount
- ₹5 lakh
- Escrow Account Deposit
- ₹60 lakh (total)
- Hearing Date
- September 15, 2025