SEBI fines Shares Bazaar and associates ₹20 lakh for misleading investment scheme

The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹20 lakh on Shares Bazaar Private Limited (SBPL) and four associated entities for violations of market regulations and investor protection norms.

The regulator found that SBPL was promoting an investment scheme branded as 'Making Millions Financially Free' to the public. The scheme promised assured annual returns ranging between 18 and 48 percent, presenting itself as an opportunity for wealth creation through securities market participation. However, investigators determined that the marketing materials created a misleading impression about how investor funds would actually be deployed and utilized.

SEBI's findings indicate that the company's promotional approach violated established guidelines on market conduct and investor disclosure requirements. The regulator has increasingly focused on curbing schemes that promise guaranteed returns or misrepresent investment vehicles, as such practices expose retail investors to significant financial risk.

The action against SBPL and its associates reinforces SEBI's commitment to maintaining market integrity and protecting consumer interests. The regulator continues to monitor investment schemes and enforce penalties against entities that contravene securities market regulations or engage in deceptive marketing practices.