Big action! Who is Avadhut Sathe? Why SEBI ordered Avadhut Sathe Trading Academy to refund ₹546 cr - What he did?

What happened: SEBI ordered Avadhut Sathe and Avadhut Sathe Trading Academy to refund fees collected for unregistered investment advisory and research analyst services, and barred them from the securities market for two years or until refunds are initiated. Key numbers: Refund of ₹546.17 crore plus ₹67.87 crore interest. Why it matters: SEBI found advice was given through paid programmes, sessions and WhatsApp groups without registration, and that misleading promotional representations about returns were used to attract participants.

SEBI ordered Avadhut Sathe and Avadhut Sathe Trading Academy to refund fees collected for unregistered investment advisory and research analyst services, and barred them from the securities market for two years or until refunds are initiated.

SEBI found advice was given through paid programmes, sessions and WhatsApp groups without registration, and that misleading promotional representations about returns were used to attract participants.