Mumbai, May 30 -- The Securities and Exchange Board of India (Sebi) has imposed a Rs.5 lakh penalty on Bollywood actor Arshad Warsi and barred him from trading in the securities market for one year for his role in a stock manipulation scheme involving Sadhna Broadcast Ltd (SBL).

He, his wife Maria Goretti Warsi and brother Iqbal Warsi were among 64 individuals and entities named in Sebi's 109-page order, issued on 29 May.

The order follows Sebi's March 2023 interim directive, barring Warsi and his wife from the market. However, on appeal, the Securities Appellate Tribunal (SAT) partially set aside the ban that same month.

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SAT restricted the trading ban to the SBL ...