Can admin of social media platforms can be booked for spreading fake news in India?

Partially true.

Members and admins of social media platforms such as Facebook Instagram can be booked for the following types of activities.

1. Posting misinformation, hate speech and fake news.
2. further forwarding misinformation, hate speech and fake news received from other members of any group to other groups.
3. Don't share violent, pornographic materials or discriminative materials to other religions.
4. Approving violent, pornographic materials or discriminative materials to other religion posted by others as a group admin.

For other messaging such as Whatsapp, Telegraph, Hike, etc. admins cannot be booked for posts that were posted by others. Nevertheless, if the post is submitted by the admin itself then it will attract legal action against him.

Consequences for posting Post/Messages hurting sentiments under Indian Laws

1. Section 66C of the IT Act deals punishment for identity theft and says that whoever, fraudulently or dishonestly make use of the electronic signature, password or any other unique identification feature of any person shall be punished with imprisonment of either description for a term which may extend to three years and shall also be liable to fine with may extend to rupees one lakh.
2. Sec 66D of the IT Act deals with punishment for cheating by personation by using computer resource, with imprisonment of either description for a term which may extend to three years and shall also be liable to fine which may extend to one lakh rupees.
3. Section 54 of "Disaster Management Act 2005" deals with someone who is providing/forwarding misleading information related to the severity/magnitude of the epidemic which may lead to panic, and that person will be punished with imprisonment which may extend to one year or with a fine.
4. Section 144 & Section 144 (3) of Criminal Procedure Code 1973, where orders by the district magistrate, against such WhatsApp group, can be passed. These orders can direct the group settings to be changed so that only WhatsApp group admins/owners can send messages.
5. Section 153A of IPC punishes offences related to promoting enmity between different groups on grounds of religion, race, place of birth, residence, language, etc., and doing acts prejudicial to maintenance of harmony. Punishment can extent from imprisonment from three to five years as well as fine.
6. Section 153B of IPC safeguards the interests of “class of persons” and “national integration” by providing punishment against imputations and assertions prejudicial to national integration.
7. Sec 188 of the IPC prescribes punishment for disobeying an order duly promulgated by a public servant.
8. Section 295A of IPC deals with actions that are intended to outrage religious feelings of any class by insulting its religion or religious beliefs.
9. Section 505 of IPC deals with spreading of false and mischievous news intended to upset the public tranquillity.

You can always report to nearest PSs or report on "cybercrime.gov.in" for any such cases.

References:

1. indiacode.nic.in
2. cybercrime.gov.in.