Fri Dec 05 03:07:40 UTC 2025: Summary:

The Securities and Exchange Board of India (SEBI) has barred Avadhut Sathe and Gouri Avadhut Sathe, along with their Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL), from providing unregistered financial advice and accessing the securities market. SEBI found that they were collecting substantial fees from investors under the guise of stock market education, disseminating misleading information, and making exaggerated profitability claims. They collected over ₹600 crore from approximately 3.37 lakh investors. SEBI has ordered the disgorgement of ₹601.38 crore and instructed the Sathes to cease their advisory services, remove related content, and provide an inventory of their assets. They are also required to open fixed deposit accounts for the amount of unlawful gains, with banks and depositories instructed to restrict debits from their accounts.

News Article:

SEBI Cracks Down on Unregistered Financial Advisor, Bars Avadhut Sathe, Academy, Orders ₹601 Crore Disgorgement

Mumbai, December 5, 2025: The Securities and Exchange Board of India (SEBI) has taken decisive action against Avadhut Sathe and Gouri Avadhut Sathe, along with their Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL), barring them from the securities market and from providing unregistered investment advisory services.

The regulator’s interim order, released Thursday (December 4, 2025), alleges that ASTAPL was operating under the guise of stock market education while providing unregistered investment advice using live market data. SEBI found that the academy collected over ₹600 crore in fees from approximately 3.37 lakh investors, enticing them with misleading information and unrealistic claims of high returns via social media and WhatsApp groups.

According to the order, Sathe shared specific trade recommendations in paid WhatsApp groups, disguising them as “chart studies.” SEBI also raised concerns about the recording of participants’ trades, alleging the promotion of selective profitable trades to attract new clients.

The regulator estimates that the Sathes gained ₹546 crore unlawfully from their unregistered advisory activities. SEBI has ordered a disgorgement of ₹601.38 crore, including fees collected for all courses offered by the academy.

In addition to barring the Sathes from the securities market, SEBI has directed them to immediately remove all promotional material related to their unregistered services. They are also required to provide a complete inventory of their assets and establish fixed deposit accounts totaling the amount of the unlawful gains. Banks and depositories have been instructed to restrict debits from their accounts.

This action underscores SEBI’s commitment to protecting investors from misleading financial advice and ensuring compliance within the securities market.

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