Legal Battle Ensues: Avadhut Sathe's Education Venture Challenges SEBI's Order

Avadhut Sathe Trading Academy will contest SEBI's order to disgorge Rs 546 crore for alleged unlawful gains. SEBI barred the academy and its founder from the securities market, alleging they offered unregistered investment advisory services. ASTA denies accusations, claiming they provide only educational training, not financial advice.

Avadhut Sathe Trading Academy plans to contest SEBI's mandate to return Rs 546 crore allegedly made through unlawful gains. The regulator barred the academy and its founder, Avadhut Sathe, from participating in the securities market, accusing them of offering unregistered investment advisory services.

In their defense, the academy firmly denied the allegations, maintaining that their focus is solely on providing education and training in financial markets without offering investment advice or stock recommendations. They expressed confidence in the judiciary and their intention to legally challenge the SEBI order.

The accusations levied by SEBI include claims that the academy's training programs were used as a facade to lure participants into trading specific stocks under the guise of educational training. SEBI asserts that unlawful gains were made from offering these services, prompting their directive to Avadhut Sathe and the academy to cease operations in investment advising.

(With inputs from agencies.)