Overview
- SEBI restrained Avadhut Sathe, his academy ASTAPL, and Gouri Sathe from dealing in securities and halted all advisory-like activities, performance advertising, and use of live market data.
- Banks were directed to block debits and place Rs 546.16 crore into fixed deposits under a SEBI lien, preserving assets identified as prima facie unlawful gains.
- Investigators cited recordings and chats showing stock-specific calls, entry and exit levels, targets, stop-losses and WhatsApp-group tips presented as education without required registration.
- SEBI found that 65% of a sample of mentorship participants incurred losses after the course and flagged selective promotion of profits despite trainers and participants being in net losses.
- The regulator attributed Rs 546.16 crore to eight courses run between January 2020 and October 2025, proposed disgorgement of about Rs 601 crore plus interest, and noted ASTAPL’s denial and plan to challenge the order.