The Securities and Exchange Board of India (SEBI) has directed Avadhut Sathe Trading Academy and its founder, Avadhut Sathe, to refund ₹546.17 crore collected through services that the regulator found involved unregistered investment advisory and research activities.
According to reports published on October 23 and 24, SEBI has also directed the academy and its founder to deposit ₹67.87 crore in interest and imposed total penalties of ₹11.5 crore on the academy and two individuals.
The regulator has barred the academy and its founder from accessing the securities market for two years or until they comply with the refund order, whichever is later. The refund process must be completed within five months of receiving the order.
The case highlights SEBI’s efforts to regulate financial educators and market influencers whose activities cross into investment advice requiring formal registration.
Published: Sunday, 25 October 2026 | 1:44 PM IST