Overview
- SEBI conducted a court‑approved two‑day search on Aug. 20–21 at Avadhut Sathe’s Karjat academy and seized trading records and digital devices for forensic analysis.
- Avadhut Sathe Trading Academy says it is a training institute, denies giving trade tips or guaranteed returns, and states it is fully cooperating with the regulator.
- NDTV Profit reported, citing unnamed sources, that illegal gains could total Rs 400–500 crore, a figure not confirmed by SEBI.
- A SEBI whole‑time member warned that giving stock calls, guaranteed returns or live trading guidance requires registration and will draw enforcement action.
- The action forms part of a wider campaign in which SEBI says it has helped take down about 70,000 unregistered finfluencer accounts with platform partners and has previously banned figures such as Asmita Patel.