The Securities and Appellate Tribunal refused to grant interim relief sought by Avadhut Sathe Trading Academy Pvt Ltd, a firm, the Securities and Exchange Board of India has charged with running an unregistered investment advisory operation and sought penalties of about ₹546 crore.
The Bench headed by Justice P. S. Dinesh Kumar admitted the appeal filed by Avadhut Sathe, and issues notices to SEBI seeking its response in six weeks and posted the matter for further hearing to January 9.
However, the SAT directed that Avadhut Sathe be permitted to withdraw ₹2.25 crore from the banks the firm deals with for “this month’s” expenses.
SEBI barred Mr. Sathe and Gouri Avadhut Sathe for providing financial advice on market investment without registration, using live market data, according to an interim order.
Spokespersons of Mr.Sathe said that they had “full faith in the judiciary” and “are optimistic” that all their prayers will be heard in the next hearing.
SEBI had barred financial advisor Avadhut Sathe and Gouri Avadhut Sathe for providing financial advice on market investment without registration, using live market data, according to an interim order published on December 4, 2025.
Mr. Sathe who ran the Avadhut Sathe Trading Academy used live market data, promised exaggerated profitability and provided investment advice through whatsapp groups to his participants, SEBI found in the interim order. The ‘unlawful gains’ from such activities amounted to ₹546 crore which the market regulator had ordered that the Mr. Sathe deposit as penalty. SEBI’s findings were based on investigations between July 2017 and October 2025 , besides a search and seize operation conducted on Mr. Sathe’s premises on August 20 and 21, 2025.
Mr. Sathe’s bank account was frozen except to transfer the penalty and advertisements of unregistered investment advisory removed from public domain including the website, further allowing them to carry out educational activities subject to the securities law.
Published – December 19, 2025 07:34 pm IST
