Avdhut Sathe SEBI Order: From capital markets ban to ₹546 crore impounding, here are key highlights

The noticees have collected over ₹601 crore from more than 3.37 lakh investors through their courses, and therefore, the SEBI order has directed the impounding of ₹546 crore, the prima facie amount of unlawful gains accrued through these alleged unregistered activities. By Hormaz Fatakia Market regulator Securities and Exchange Board of India, in an Ex-Parte Interim Order cum Show Cause Notice on December 4, 2025 has barred Avdhut Sathe, Avdhut Sathe Trading Academy Pvt. Ltd. and Gouri Sathe from accessing the securities market either directly or indirectly. The order also instructs immediate cessation of any form of investment advisory or research analyst services, along with freezing of bank and demat accounts, along with restricted debits. Here are some of the key highlights of the order: ASTAPL, Avadhut Dinkar Sathe (AS), and Gouri Avadhut Sathe (GS) were found to be providing investment advisory and research analyst services for a consideration without the mandatory registration from SEBI. The concerned parties allegedly published selective profitable trades and claimed that those who participate in their courses, earn consistently through trading. This is despite multiple SEBI studies claiming that nine out of 10 retail traders are in losses. Despite an administrative warning from SEBI in March 2024, the practices continued, according to the order. SEBI's investigation has also revealed that direct stock advise and recommendations were provided during paid sessions, including target and stop losses, using live market data. To influence participants, Sathe shared his own live trading positions and mark-to-market gains. Trade recommendations were also allegedly shared through paid WhatsApp Groups, disguised as chart study, according to the order. The noticees have also been accused of soliciting individuals to take loans to pay the course fees. The noticees have collected over ₹601 crore from more than 3.37 lakh investors through their courses, and therefore, the SEBI order has directed the impounding of ₹546 crore, the prima facie amount of unlawful gains accrued through these alleged unregistered activities. "This amount has to be impounded jointly and severally from Avadhut Sathe Trading Academy Pvt. Ltd. and Avdhut Dinkar Sathe," the order stated. The noticees have been given a 21-day timeframe to file their replies to the Show Cause Notice. The 21-day period starts from the day of receiving the order. Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!