Sebi orders Avadhut Sathe Trading Academy and its founder to refund ₹546 cr
Reported by Business Standard, not nibnow. We are not the publisher of this story, only the source is.
Investors who paid the academy for unregistered advisory services are slated to receive a large refund, affecting their finances and confidence in investment firms.
Markets regulator Sebi on Friday directed Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL) and its Founder Avadhut Sathe to refund Rs 546.17 crore collected from participants for providing unregistered investment advisory and research analyst services, along with interest of Rs 67.87 crore. The regulator has also barred the academy and Sathe from accessing the securities market for two years or until compliance with the refund direction, whichever is later. In its 171-page final order, the regulat
SEBI is India’s securities market regulator, empowered to enforce compliance, order refunds, and bar entities from market participation for violations of securities laws.
- •Whether the academy and its founder meet the refund deadline or face further penalties
- •Potential legal challenges or appeals against SEBI’s order
- •Any broader regulatory scrutiny of similar unregistered advisory firms