SEBI finds ASTAPL provided unregistered investment advice, 2017–2025

This is an interim order and show cause notice issued by SEBI against Avadhut Sathe Trading Academy Private Limited (ASTAPL) and its directors, alleging that they provided unregistered investment advisory services under the guise of stock market education and misled investors with selective profit claims.

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

What SEBI found or ordered

• SEBI found that ASTAPL/AS was engaged in providing unregistered investment advisory and research analyst services.
• SEBI observed that ASTAPL/AS collected substantial fees from investors while disseminating misleading information and advertisements.
• SEBI noted that despite a previous Administrative Warning in March 2024, ASTAPL/AS continued to publish misleading videos.
• SEBI appointed an Investigating Authority on July 24, 2025, to investigate activities from July 01, 2017, to October 09, 2025.
• Search and seizure operations were conducted at the premises of the Noticees between August 20–21, 2025.
• The order is an ex-parte interim order cum show cause notice, requiring the Noticees to respond to the allegations.

Also in the document

• SEBI stated that analysis showed all trainers and course participants were in net losses, contrary to claims of consistent earnings.
• SEBI noted that ASTAPL/AS is not registered with SEBI as an Investment Advisor or Research Analyst.
• The investigation period covers a significant duration from 2017 to 2025.