SEBI v. Ravindra Dahyabhai Patel (Sadhna Broadcast YouTube pump, settlement, 2025)

Settled

✓ Checked against the primary document on October 9, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts; a later sample of 50 of the SEBI records added on 9 October agreed on every field for 46. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In February 2025 SEBI settled its case against Ravindra Dahyabhai Patel, one of dozens of noticees in the Sadhna Broadcast Limited matter, in which YouTube videos with false content and unrealistic price targets were alleged to have been used to lift the share price before shares were sold. He neither admitted nor denied the allegations, paying Rs 72.8 lakh, disgorging about Rs 1.91 crore and accepting a six-month market ban.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

—

Alleged gain

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Penalty as published

7.3m INR

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in INR. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

This settlement order, dated 27 February 2025, concerns Ravindra Dahyabhai Patel, noticee number 59 in a show cause notice issued to many entities over the shares of Sadhna Broadcast Limited. SEBI received complaints in mid-to-late 2022 about price manipulation and offloading, and found that certain net sellers were linked to the creator of YouTube channels carrying videos with false content and unrealistic target prices meant to draw in public investors. An interim order followed in March 2023.

After an investigation covering March to November 2022, a show cause notice of 9 January 2024 alleged breaches of section 12A of the SEBI Act and regulations 3 and 4 of the PFUTP Regulations by the noticees, and sought directions including disgorgement and penalties under sections 15HA and 15HB.

Mr Patel applied to settle without admitting or denying the findings. After two meetings with SEBI's internal committee he offered a settlement amount of Rs 72,80,000, a disgorgement amount of Rs 1,90,61,362 and a voluntary debarment of six months from the market. The advisory committee recommended these terms and the panel of whole-time members accepted them in January 2025. He paid both sums on 19 February 2025, and the six-month debarment runs from the date of the order.

The order disposes of the notice against him alone, with the usual right for SEBI to restore proceedings if disclosure was untrue or undertakings were broken. The case against other noticees is not decided here.

The record does not show what role Mr Patel is said to have played, because a settlement order makes no findings, nor the aggregate gains or losses in the wider matter.

This library tags the matter as a social-media ramp and a pump-and-dump, reflecting the wider allegations in the settlement order's description. The tagging is ours, not the regulator's.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Social media ramps — see how it works, what statute it engages, and every other action tagged the same way.
• Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2025-02-27 SEBI order

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEBI order page
• Order (PDF)

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added October 8, 2026. submit a correction.