Securities Tribunal Grants Temporary Relief to Avadhut Sathe Training Academy

The Securities Appellate Tribunal has provided interim relief to Avadhut Sathe Training Academy, allowing continued operations amid allegations of unregistered investment advisory activities. Sebi had previously barred the academy and its operator, Avadhut Sathe, from the securities market, demanding disgorgement of Rs 546 crore. The academy remains optimistic about future hearings.

The Securities Appellate Tribunal has extended interim relief to Avadhut Sathe Training Academy, enabling the continuation of their services, as mentioned in a company statement on Friday.

Earlier, the Securities and Exchange Board of India (Sebi) had barred the financial influencer Avadhut Sathe and his firm from the stock market, accusing them of generating an unlawful gain of Rs 546 crore through alleged unregistered investment services.

Despite these allegations, the academy expressed confidence in the judiciary, stating commitment to their educational community while challenging Sebi's accusations of unregistered investment advisory activities.

(With inputs from agencies.)