SEBI cracks down on Avadhut Sathe Trading Academy ll deep search 6

Описание: SEBI cracks down on Avadhut Sathe Trading Academy ll deep search 6

The Securities and Exchange Board of India (SEBI) has taken significant action against financial influencer Avadhut Sathe and his academy for providing unregistered investment advisory and research analyst services under the guise of education.
Key actions taken by SEBI include:
Barring from the securities market: Sathe and his associated entities (Avadhut Sathe Trading Academy Pvt. Ltd. and Gouri Sathe) are prohibited from buying, selling, or dealing in securities, either directly or indirectly, until further orders.
Impounding of funds: SEBI has ordered the impounding of an estimated ₹546 crore (approximately $65.4 million USD) of "unlawful gains" that were allegedly accrued through these unregistered activities.
Cessation of services: They must immediately stop offering any form of investment advisory or research analyst services, including training modules that involve real-time trading calls.
Freezing accounts: Bank and demat accounts have been frozen, with debit restrictions imposed.
Prohibition of misleading advertisements: They are banned from projecting or advertising past profits or success stories of participants to solicit new clients.
Requirement to create FD accounts: Sathe has been instructed to open fixed deposit (FD) accounts within 15 days with a lien in favour of SEBI for the impounded amount.
The regulator's investigation found that the academy provided specific "buy/sell recommendations" and "trade levels" during live trading sessions and in private groups, which requires mandatory registration with SEBI. Sathe continued these practices despite an administrative warning from SEBI in March 2024, leading to the urgent interim order to prevent further public harm.

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