The Avadhut Sathe Trading Academy (ASTA) has announced that it will contest the Securities and Exchange Board of India’s (SEBI) interim order banning founder Avadhut Sathe from participating in the securities market. The regulator accused the academy of allegedly offering unregistered investment advisory services while operating under the banner of financial training.
🔹 SEBI Order and Refund Directive
Earlier this week, SEBI issued a directive barring Sathe and Avadhut Sathe Trading Academy Private Limited (ASTAPL) from market participation and ordering a refund of ₹546.16 crore, terming the collected funds as “unlawful gains.”
The order followed search operations carried out in August at Sathe’s Karjat property and academy premises after complaints surfaced alleging stock-specific advisory services disguised as educational content.
🔹 ASTA Responds: “We Are an Education Platform”
In a detailed statement, the academy firmly rejected SEBI’s claims, stating that its role is limited to financial education and skill development, not advisory or stock recommendation services.
“ASTA has never acted as an investment adviser, research analyst, or finfluencer. We do not offer stock tips, investment calls, or advisory services, and we do not monetise content through social platforms,” the organisation stated.
ASTA added that it would pursue legal remedies and argued that it currently operates in a regulatory grey zone, as its training modules do not fall under SEBI’s existing categories.
🔹 About Avadhut Sathe
Avadhut Sathe began his trading journey in 1991 and previously worked in IT roles across Singapore, Australia, and the US before returning to India in 2007. He founded ASTA in 2008, which has since expanded to 17 centres nationwide and amassed a sizable retail trading community.
🔹 What’s Next?
ASTA has confirmed that it will file a legal challenge against the order and continue operations as a training institute unless further regulatory restrictions are imposed.
Further updates are expected as the matter proceeds through legal review and regulatory assessm
