SEBI Targets ‘Baap of Charts’ for ₹18 Crore Recovery Amid Violations

The Securities and Exchange Board of India (SEBI) has launched recovery proceedings against Mohammad Nasiruddin Ansari, the owner of the investment advisory platform known as Baap of Charts. The regulatory body aims to recover dues totaling ₹21 lakh from Ansari and approximately ₹17.90 crore from his company, Golden Syndicate Ventures. This action follows a previous crackdown on Ansari in 2023, where he was barred from participating in the securities market due to alleged misconduct.

Investigations revealed that Ansari and his team concealed a significant loss of ₹3 crore incurred over a period of 2.5 years while trading in the securities market. Operating under the guise of providing educational training on market investments, Ansari allegedly misled investors by promising guaranteed returns. Additionally, he was offering investment advisory services without the necessary SEBI registration, in clear violation of the SEBI Regulations 2013.

In a decisive move on August 22, 2025, a recovery officer directed banks to transfer any accessible funds in the defaulters’ accounts to SEBI. Mutual funds were also instructed to redeem units held in defaulters’ names and remit the proceeds to SEBI.

Regulatory Actions Intensify

A further directive issued on December 15, 2025, states that if the funds recovered from bank accounts are insufficient, SEBI will take additional measures to prevent defaulters from disposing of or transferring their assets. The latest order mandates that Ansari and his associates provide comprehensive details of all movable and immovable properties they possess, alongside the original title deeds for any real estate, within a two-week timeframe.

These steps are part of SEBI’s broader efforts to address the ongoing issues surrounding Ansari and his business practices. By targeting the financial assets of those involved, SEBI aims to recover the substantial amounts owed while reinforcing compliance with regulatory standards in the securities market. This case highlights the challenges regulators face in safeguarding investor interests and maintaining market integrity.