SEBI Bans Avadhut Sathe, Orders ₹546 Crore Return
The Securities and Exchange Board of India (SEBI) has imposed a ban on financial influencer Avadhut Sathe and his firm Avadhut Sathe Trading Academy (ASTAPL), barring them from participating in the securities market and directing them to return roughly ₹546.16 crore, deemed “unlawful gains.” The regulator found that Sathe and his firm had provided unregistered investment-advisory and research-analyst services to investors.
What SEBI Found
SEBI’s investigation, spanning July 2017 to October 2025, concluded that ASTAPL collected fees from over 3.37 lakh investors by offering stock tips, trading calls and buy-sell recommendations — services that require formal registration under Indian securities law. Marketing materials emphasised successful trades and omitted poor ones, creating a misleading impression of guaranteed returns.
Penalties And Restrictions
As part of the interim order, Sathe and ASTAPL must immediately stop all advisory and research-analyst activities. They are also prohibited from trading securities, giving investment advice, using live market data for recommendations, or advertising past trading results. Bank and demat accounts linked to the firm have been restricted pending refund of the unlawful gains.
Wider Message To Finfluencers
This ruling marks one of the biggest crackdowns by SEBI on a “finfluencer,” signalling tougher enforcement against unregistered financial advisers. Analysts expect increased scrutiny of online trading educators and greater emphasis on investor protection.
