SEBI finds ₹601.38 crore collected through unregistered advisory by ASTAPL

This is a final order by SEBI regarding Avadhut Sathe Trading Academy Private Limited (ASTAPL) and its directors, Avadhut Dinkar Sathe and Gouri Avadhut Sathe, concerning allegations of unregistered investment advisory activities and fraudulent trade practices.

Who it concerns: Avadhut Sathe Trading Academy Private Limited (ASTAPL), Avadhut Dinkar Sathe, Gouri Avadhut Sathe

What SEBI found or ordered

• SEBI found that the Noticees engaged in unregistered investment advisory and research analyst activities in violation of the SEBI Act and IA/RA Regulations.
• SEBI found that the Noticees disseminated false and misleading information through social media, including testimonials showing net losses as supernormal profits.
• SEBI found that the Noticees collected ₹6,01,37,96,917 from course participants between July 25, 2015, and October 09, 2025.
• SEBI found that the Noticees mis-sold services by concealing the lack of required registration and failing to ensure suitability of securities.
• SEBI held directors Avadhut Dinkar Sathe and Gouri Avadhut Sathe responsible for the company's violations under Section 27 of the SEBI Act.

Also in the document

• The total amount collected from participants was approximately ₹601.38 crore.
• The investigation period covered activities from July 01, 2017, to October 09, 2025.
• SEBI had previously issued an Administrative Warning on March 01, 2024, cautioning the Noticees against misrepresentation, which they allegedly ignored.