The Securities and Exchange Board of India (SEBI) has imposed a sweeping ban on Mumbai-based financial influencer Avadhut Sathe and his company, Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL), prohibiting them from participating in the securities market until further notice. In a 125-page interim order cum show cause notice issued on December 5, 2025, SEBI directed the duo to disgorge Rs 546.16 crore in unlawful gains accrued from unregistered investment advisory and research analyst services. The regulator also barred them from advertising their performance or profits, citing misleading practices that duped over 3.37 lakh investors into trading specific stocks under the pretext of educational training.
Avadhut Sathe, a software engineer by training with a BE in Electronics from the University of Mumbai and prior stints at Deloitte, Mumbai Port Trust, and Sadhan Advisors, founded ASTAPL in January 2015. The academy, headquartered in Mumbai with branches in Bengaluru, Kochi, Pune, Navi Mumbai, Ahmedabad, Chennai, Hyderabad, and Indore, claims a global footprint and boasts over 600 members and 200 "ASTA Satsang Centres". Sathe's YouTube channel, with more than nine lakh subscribers, promotes stock trading strategies emphasising respect for the "god market". However, SEBI's investigation revealed that from July 1, 2017, to October 9, 2025, the entity collected Rs 601.37 crore by providing unregistered recommendations, selectively showcasing profitable trades, and touting consistent high returns to lure participants.
SEBI's probe, initiated after examining ASTAPL's activities in FY 2023-24, uncovered a pattern of reckless solicitation that induced investors into high-risk securities transactions without proper disclosures or registrations. Whole-time member Kamlesh Chandra Varshney emphasised the urgency of intervention to prevent further public deception, stating that Sathe and ASTAPL are jointly and severally liable for the impounded funds. While Gouri Avadhut Sathe, involved in the company's operations, was not implicated in advisory roles, the order underscores the broader risks posed by unregulated influencers in India's booming retail trading ecosystem.
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The action comes amid heightened regulatory scrutiny on social media-driven financial advice, following similar crackdowns on platforms exploiting novice investors during market volatility. Over 3.37 lakh participants, many drawn by promises of collective progress, now face potential losses from trades based on unverified tips, highlighting vulnerabilities in self-proclaimed trading education models. SEBI has impounded the proceeds to safeguard investor interests, with the matter slated for further hearings.
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