New Delhi, Feb. 8 -- Market regulator Securities and Exchange Board of India (Sebi) has banned finfluencer Asmita Patel and five others from the market while impounding illegal gains exceeding Rs.53 crore.

Sebi issued an interim order cum show-cause notice on Thursday, February 6, prohibiting six entities, including Asmita Patel Global School of Trading Pvt Ltd (APGSOT), Asmita Jitesh Patel, Jitesh Jethalal Patel, King Traders, Gemini Enterprise and United Enterprises, from the capital market.

The market regulator asked the accused entities for an explanation on why another Rs.104.63 crore should not be collected as fees for various programmes and should not be seized.

The order, issued by Sebi's full-time member, Kamlesh Varshney, cam...