Sebi bars Avadhut Sathe, academy from markets, imposes ₹11.5 crore penalty

What happened: Sebi imposed penalties on Avadhut Sathe Trading Academy and its directors and barred them from the securities markets for providing unregistered investment advisory and research analyst services. Key numbers: Total penalties of ₹11.5 crore: ₹6 crore on ASTAPL, ₹4 crore on Avadhut Sathe, ₹1.5 crore on Gouri Sathe. Why it matters: Sebi found the academy's activities went beyond financial education to specific buy and sell calls, price targets and stop-loss levels, and said misleading promotional claims continued after a March 2024 warning.

Sebi imposed penalties on Avadhut Sathe Trading Academy and its directors and barred them from the securities markets for providing unregistered investment advisory and research analyst services.

Sebi found the academy's activities went beyond financial education to specific buy and sell calls, price targets and stop-loss levels, and said misleading promotional claims continued after a March 2024 warning.