New Delhi: Avadhut Sathe Trading Academy (ASTA) on Friday said it will challenge Sebi’s interim order directing it to disgorge Rs 546 crore in alleged unlawful gains and barring the academy and founder Avadhut Sathe from the securities market.
The academy “categorically denied” Sebi’s allegations, assert-ing that it functions purely as a training institution and not as an investment adviser, research analyst or financial influencer.
Sebi on Thursday accused Sathe and ASTA of running an unregistered advisory and research analyst business, alleging they lured participants with trading recommendations under the guise of education.
ASTA said its programmes focus only on market skill-building and decision-making training, adding that it does not issue stock tips, offer investment advice or monetise social media platforms.
The academy said it will contest the order before the appropriate legal forum and called for clearer regulatory recognition for training-only entities.
According to Sebi, Avadhut Sathe Trading Academy’s courses were marketed by showcasing selective profitable trades and claims of consistently high returns.
The regulator directed Sathe and ASTA to stop offering unregistered advi-sory or analyst services and barred them from the market until further notice.
The findings are based on an examination of ASTA’s activities during FY2023-24 and an investigation covering July 2017 to October
2025.