The Securities Appellate Tribunal (SAT) permitted Avadhut Sathe Trading Academy Pvt. Ltd. to resume educational activities subject to the securities law and withdraw funds for essential expenses to run the institution.
Justice P.S. Dinesh Kumar also said SAT will hear Avadhut Sathe on January 9.
Senior counsel Janak Dwarakdas, appearing for Mr. Sathe, sought a stay on orders seeking to transfer ₹546 crore of “unlawful gains” to the Securities and Exchange Board of India (SEBI). Also, while the appellants pleaded for monthly expenditure of ₹5.25 crore, Justice Kumar allowed defreezing of the bank account to the extent of only ₹2.25 crore as the rest had been spent on advertising and marketing expenses. SAT ordered SEBI respond to the petition in six weeks.
SEBI barred financial advisors Mr.Sathe and Gouri Avadhut Sathe for providing financial advice on market investment without registration, using live market data, according to an interim order.
Exaggerated profit
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 said in the interim order.
The unlawful gains from such activities amounted to ₹546 crore which, SEBI ordered Mr. Sathe to deposit as penalty.
Published – December 19, 2025 07:34 pm IST
