SEBI Bans Avadhut Sathe, Orders Disgorgement

The India — Securities and Exchange Board of India (SEBI) has taken significant regulatory action against financial influencer Avadhut Sathe and his firm, Avadhut Sathe Trading Academy Private Limited (ASTAPL). SEBI barred Avadhut Sathe and Avadhut Sathe Trading Academy Private Limited from the securities market and ordered them to jointly disgorge Rs 546.16 crore, identified as 'unlawful gain.' The investigation, covering July 1, 2017, to October 9, 2025, revealed that Avadhut Sathe Trading Academy Private Limited collected over Rs 601.37 crore from more than 3.37 lakh investors by providing unregistered investment advisory and research analyst services under the guise of stock market training programs. Avadhut Sathe, a former software engineer, founded Avadhut Sathe Trading Academy Private Limited in 2015 and gained a large following through motivational speaking and social media. SEBI found that Avadhut Sathe and Avadhut Sathe Trading Academy Private Limited selectively showcased profitable trades, marketed training programs with claims of high returns, and provided stock-specific guidance, including entry/exit levels and stop-loss triggers, which constituted unregistered advisory services. The regulator has directed Avadhut Sathe and Avadhut Sathe Trading Academy Private Limited to cease and desist from such activities, not use live market data, and not advertise performance or profits. This action serves as a major warning to other financial influencers in India.