Will Challenge SEBI’s Ban Order, Says Avadhut Sathe Trading Academy
Avadhut Sathe Trading Academy says it will challenge SEBI’s ban order accusing it of unregistered advisory activities. ASTA denies allegations, calling itself a financial education institute.
Avadhut Sathe Trading Academy announces plans to challenge SEBI’s interim ban after allegations of unregistered investment advisory activities.
The Avadhut Sathe Trading Academy (ASTA) on Friday announced that it will legally challenge the Securities and Exchange Board of India's (SEBI) interim ban order, which accused founder Avadhut Sathe of running unregistered investment advisory services under the guise of market training programmes.
SEBI had earlier barred Sathe from accessing the securities market and directed him and his company, Avadhut Sathe Trading Academy Private Limited (ASTAPL), to refund ₹546.16 crore—money termed as “unlawful gains” by the regulator. The move followed a search-and-seizure operation conducted at Sathe’s Karjat residence and academy in August after allegations surfaced that he was giving stock-specific recommendations while claiming to offer investor education.
In an official statement, ASTA strongly rejected SEBI’s allegations and clarified that the organisation functions strictly as a financial education and training institution.
“ASTA has never acted as an investment adviser, research analyst, or finfluencer. Our programmes focus purely on skill development and decision-making in financial markets. We do not provide stock tips, investment calls, or advisory services, nor do we monetise social media platforms,” the academy said.
The academy also claimed it is a “victim of a regulatory vacuum,” stating that its activities do not fall under any of SEBI’s current advisory or research categories.
Sathe, who began his trading career in 1991, is often known for his rise from humble beginnings. Raised in a chawl in Dadar, he later pursued engineering and built a career in IT across Singapore, Australia and the United States before returning to India in 2007 to focus on trading and training full-time. In 2008, he founded ASTA, which has since grown to 17 centres across the country.
