The Securities and Exchange Board of India (SEBI) has issued an ex parte interim order against Avadhut Sathe Trading Academy (ASTA) and its founder, Avadhut Dinkar Sathe, restricting their participation in the securities market. The regulator has also directed the impounding of ₹546 crore, identified as suspected unlawful gains.
SEBI stated that the academy carried out activities aligned with investment advisory and research analysis without the required registration, while presenting its services as educational programs related to stock market trading.
According to the regulator, the academy’s offerings included guidance on individual stocks, live calls during market hours, and assurances of substantial returns as part of its training portfolio.
Details of the Investigation
The regulator’s examination covered the period from July 1, 2017, to October 9, 2025. During this time, ASTA reportedly collected fees amounting to ₹601 crore, which are now under detailed assessment.
Evidence reviewed by SEBI indicated that subscribers received trading strategies, target levels, stop-loss instructions, and capital allocation guidance through private WhatsApp channels and live interactive sessions.
The order also references video evidence and chat transcripts in which Sathe appeared to use live market charts and display personal trading positions, while participants acknowledged placing trades based on his guidance. SEBI concluded that these activities aligned with advisory services rather than training alone.
Regulatory Action History
The regulator noted that ASTA had previously received an administrative caution in March 2024 for allegedly sharing selective profitable trades and portraying misleading performance results. Despite the warning, the academy continued to promote high-return claims through testimonial videos, while several users reportedly incurred losses.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.