Baba Ramdev, who is learning the nuances of the stock market and the corporate world, has made an error. Baba Ramedava has guaranteed to become a millionaire due to a yoga session among his reporters. Now, there are chances that the capital market regulator SEBI can take action on this. A video of the same has gone viral in which Baba Ramdev recently spoke to his reporters on the occasion of a yoga session, 'You guys open Demat accounts and invest money in Ruchi soya shares. I fully guarantee that you will become a millionaire.'
It is really against SEBI rules to talk about such a guarantee. As per securities and exchange board of India rules, such statements cannot be made by the officer of a company or the company wooing investors. No one can give such suggestions to anyone about shares. If a person is suggesting people invest in a stock, he should be an investment advisor registered with the SEBI. SEBI has a history of being harsh in such cases. In one such case in 2017, SEBI has asked Emami Chairman R. S. Agarwal was fined Rs 8 lakh.
The same jurists say that SEBI has a lot of power in the matter and may impose penalties or issue warnings to companies or officers who make such statements. It may be recalled that Ruchi Soya was purchased by Patanjali Group in the year 2019. Investment or trading in any company in the stock market is full of risks and no one can guarantee that it will benefit in future. As per the rules of the SEBI, no company can even guarantee investors to receive fixed returns.