Sebi Orders Avadhut Sathe Academy to Refund ₹546.18 Crore to Investors
India’s markets regulator has directed Avadhut Sathe Trading Academy and its founder, Avadhut Sathe, to refund ₹546.18 crore to investors after finding that the entity was providing unregistered investment advisory services under the guise of education. Sebi also imposed a penalty of ₹11.5 crore, citing misleading testimonials and the concealment of trading losses that allegedly misled participants about the risks and outcomes of the programme.
