SEBI Bans Asmita Patel, ‘She-Wolf of Stock Market,’ Over Violations

SEBI (Securities and Exchange Board of India) has taken strict actions against six entities, including popular YouTube finfluencer Asmita Patel, for providing unregistered investment advisory services. The regulator has directed them to refund more than ₹53 crore collected as fees and rationalise another ₹104.63 crore.

Who is Asmita Patel?

Asmita Jitesh Patel, known as the “She-Wolf of the Stock Market” or the “Options Queen,” amassed a large following on social media by posting stock market tips. Very famous for educational courses related to trading strategies, Patel has more than 5.3 lakh YouTube subscribers, 73,000 Facebook followers, and 90,000 Instagram followers.

Her website highlights her mission to “empower people with the right knowledge in finance, stock markets, and responsible wealth investment.” She claims to have 17 years of trading experience and over a decade of teaching expertise.

What Action Has SEBI Taken?

The market regulator has also issued an interim order against Patel and five other entities, including Asmita Patel Global School of Trading (APGSOT), who were also banned from the capital markets. The regulator has accused Patel and her aides of giving investment advice without having SEBI registration.

Patel allegedly operated private Telegram channels and Zoom sessions where she was said to provide stock tips, according to the order. SEBI further noted that these activities were in clear violation of investment advisory regulations, and were carried out in the form of offering investment advice without registration in the guise of educational courses.

Customer Complaints and Misleading Claims

The move comes after 42 clients complained, alleging that Patel had made false high return promises and used misleading language. These courses prompted people to leave their jobs and trade full time — raising the alarm on unethical financial practices, SEBI said.

The order, signed by SEBI’s whole-time member Kamlesh Varshney, highlights the regulator’s continued pursuit at cracking down on unregistered investment advisory activities in India.

What’s Next?

The regulator has provided Patel and other implicated entities an opportunity to respond, as to why the additional ₹104.63 crore received by way of fees ought not to be seized. Undoubtedly, this case is a major red flag for financial influencers not operating under regulatory approvals.

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