Avadhut Sathe Training Academy to challenge Sebi's Rs 546-cr disgorgement order

New Delhi, Dec 5 (PTI) Avadhut Sathe Trading Academy on Friday said it will challenge the Sebi order, directing it to disgorge unlawful gains of Rs 546 crore and barring the academy and its founder Avadhut Sathe from the securities market.

In response to the Sebi's interim order, Avadhut Sathe Trading Academy (ASTA) said it "categorically denies the allegations mentioned in the order and reiterates that it operates solely as an educational and training institution, not as an investment adviser, research analyst, or financial influencer".

On Thursday, Sebi barred financial influencer Avadhut Sathe and his firm ASTA from the securities market and directed them to disgorge Rs 546 crore of 'unlawful gain' earned from the alleged unregistered investment advisory and research analyst business.

"Our programmes are designed exclusively for skill-building and decision-making training in financial markets. We neither issue stock recommendations nor provide investment advice, nor do we monetise our social media platforms," the academy said.

ASTA said it will be challenging the Sebi order in the appropriate legal forum and remains confident in the judicial process. We also continue to advocate for clearer regulatory recognition of training-only institutions operating in this space.

According to the interim order, the regulator alleged that Avadhut Sathe played a major role in devising a scheme, wherein course participants were lured to trade in specific stocks and were given recommendations for buy/sell of specific securities were provided by Sathe for a consideration in the pretext of imparting education.

Sebi directed ASTA and Sathe to cease and desist from offering unregistered investment advisory and research analyst services, and also debarred from the securities markets till further orders.

The Securities and Exchange Board of India (Sebi) observed that the training programmes were marketed by selectively showcasing profitable trades of participants and claiming that attendees consistently generated high returns from stock trading.

The findings stemmed from an examination of Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL) activities for FY 2023-24 and a subsequent investigation covering July 1, 2017 to October 9, 2025. PTI HG HG BAL SHW