- Avadhut Sathe Trading Academy urged investors to take loans for course fees, SEBI said
- SEBI barred Avadhut Sathe from securities market activities and froze his accounts
- Unlawful gains of Rs 546.16 crore were ordered to be disgorged by SEBI
Avadhut Sathe Trading Academy had urged investors to take loans to join and pay for its online and offline courses, according to the Securities and Exchange Board of India.
The market watchdog, in its interim order issued late on Thursday, barred the academy's founder Avadhut Sathe from engaging in the activities of the securities market.
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The capital market regulator has ordered the disgorgement of "unlawful gains" worth Rs 546.16 crore, marking one of its strongest action so far against a finfluencer.
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“It was also alleged that the quality of teaching was not as effective as represented or marketed and staff members of ASTAPL/AS solicited individuals to take loans in order to pay the course fees,” the SEBI order said.
The regulator also highlighted how the company used to misrepresent facts to deceive investors.
“ASTAPL/AS falsely claimed that their course participants/investors achieved extraordinary market returns, misleading prospective course participants/investors with exaggerated profitability claims. Further, a promotional video featuring a 12-year-old child falsely suggested that stock trading becomes effortless after training, manipulating perceptions to drive course enrolments. Thus, ASTAPL/AS was engaging in misrepresentation through testimonials and social media content,” the market regulator said.
Since its launch in 2015, Avadhut Sathe's firm has amassed Rs 601.37 crore from over 3,37,000 investors. SEBI discovered irregularities linked to eight courses conducted between January 2020 and October 2025, during which Rs 546.16 crore was collected from participants.
SEBI announced that Sathe and the academy are restrained from buying, selling or dealing in securities until further notice, instructing banks and depositories to freeze their accounts. The regulator also ordered Sathe and the academy to open fixed deposits amounting to Rs 546.16 crore, with a lien marked in favour of SEBI.
“Noticees are directed to immediately withdraw and remove all websites, advertisements, representations, literature, videos, brochures, materials, publications, documents, communications, etc. in relation to the unregistered investment advisory and research analyst services activity, until further orders,” the order mentioned.
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