SEBI Orders Avadhut Sathe Trading Academy To Refund ₹546.17 Cr Collected Through Unregistered Advisory Services

The Securities and Exchange Board of India (SEBI) has ordered Avadhut Sathe Trading Academy Private Limited (ASTPL) and its founder, Avadhut Sathe, to refund ₹546.17 crore collected through unregistered investment advisory and research analyst activities. SEBI imposed penalties totaling ₹11.5 crore on the academy, its founder, and director Gouri Avadhut Sathe.

The academy faces a ₹6 crore penalty, while Avadhut Sathe and Gouri Sathe must pay ₹4 crore and ₹1.5 crore, respectively, within 45 days of receiving the order. They must deposit the total refund amount of ₹546.17 crore into a dedicated account within five months and publish refund claim procedures in multiple languages within 30 days.

Any unclaimed balance must be placed in a SEBI escrow account for one year before being transferred to IPEF. The academy and its founder are barred from securities markets for two years or until they comply with the refund direction, whichever is later, with Gouri Sathe facing an additional six-month market ban.

Brief written by urgent.news from Free Press Journal's own syndicated text. Machine-written — may contain errors; check the original before relying on it.