Business
SEBI orders Rs 546.17 crore refund from trading academy
NDTV·
Markets regulator Sebi directed Avadhut Sathe Trading Academy and founder Avadhut Sathe to refund Rs 546.17 crore plus Rs 67.87 crore interest for unregistered advisory services. Sebi barred the academy and Sathe from the securities market for two years or until refunds are complete. Penalties total Rs 11.5 crore. Refunds must finish within five months of the order.
Prism
What It Means For You
- Course participants may claim refunds after Sebi-ordered newspaper notices within 30 days.
- Bank debits stay frozen until required amounts reach the designated account and investor fund.
- Gouri Avadhut Sathe faces a six-month market bar for oversight failures.
What's Happening
- Sebi's 171-page order found advice via paid programmes, sessions and WhatsApp groups.
- The academy collected about Rs 601.38 crore since inception; Rs 546.17 crore was tagged for disgorgement.
- Misleading return claims were used to attract participants without suitability checks.
Unregistered advisory enforcement
- Penalty breakdown
- The academy was fined Rs 6 crore and Sathe Rs 4 crore.
- Gouri Avadhut Sathe was penalised Rs 1.5 crore.
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