Overview
- An ex-parte order dated December 4 restrains Avadhut Sathe, ASTAPL and Gouri Sathe from accessing the securities market, with trading allowed only to liquidate existing holdings.
- SEBI directed Rs 546.16 crore in prima facie unlawful gains to be parked in fixed deposits under a SEBI lien, with banks and depositories told to block debits.
- The regulator alleges the paid programmes delivered stock-specific buy and sell instructions using live market data and private WhatsApp groups without required registration.
- The probe cites collections of about Rs 601.37 crore from more than 3.37 lakh participants and notes that 65% of reviewed traders lost money despite promotional claims of outsized returns.
- Interim directions prohibit fee collection, use of live data or performance advertising and require full asset and records disclosure, with final adjudication and any disgorgement proceedings pending.