Market regulator Sebi has banned fininfluencer Asmita Patel and five others from the market while impounding illegal gains exceeding ₹53 crore.

Sebi issued an interim order cum show cause notice passed on Thursday, February 6 that prohibited 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 ₹104.63 crore should not be collected as fees for various programmes and should not be seized.