The Securities and Exchange Board of India just slammed the brakes on one of the country’s flashiest trading gurus, freezing over half a billion rupees and barring him from the markets in a move that’s got every aspiring day trader talking. What started as complaints from burned students has snowballed into SEBI’s toughest interim hammer yet against finfluencers blurring the line between lessons and live bets.
At the center of the storm is the SEBI Avadhut Sathe ban, a 125-page ex-parte order from Whole Time Member Kamlesh C Varshney that accuses Pune-based trainer Avadhut Dinkar Sathe, his wife Gouri, and their Avadhut Sathe Trading Academy Private Limited (ASTAPL) of running an unregistered investment advisory racket dressed up as stock market classes. From the regulator’s search-and-seizure raids in August to the dusty archives of WhatsApp chats, the probe paints a picture of hype-fueled fees raking in ₹601 crore from 3.37 lakh punters since 2017—while most walked away lighter in the wallet.
Inside the Probe: How SEBI Uncovered the Unregistered Advisory Scheme
SEBI’s investigation kicked off last year after a string of gripes hit their doorstep: Folks who’d shelled out for Sathe’s courses claiming massive returns, only to see their portfolios tank. A March 2024 warning shot from the regulator went unheeded, so in August 2025, teams swooped on the Karjat gurukul and Mumbai offices, seizing videos, ledgers, and phone records spanning July 2017 to October 2025.
What turned up? A steady stream of “counselling batches” and “mentorship programs” that weren’t just theory—Sathe was dishing out real-time buy-sell calls on Bank Nifty futures, penny stocks, and options plays, complete with entry points, stop-losses, and targets. Video clips showed him flashing live charts during sessions, even sharing his own mark-to-market positions to egg on the crowd. Private WhatsApp groups buzzed with instant tips, all funneled through the academy’s setup, which SEBI calls a “structured system” for unlicensed guidance.
The academy’s pitch? Glossy testimonials of students turning ₹10,000 into lakhs overnight. Reality check: Of 186 tracked participants, 121 posted losses six months post-course—dead opposite the hype. SEBI tallied the “unlawful gains” at ₹546.16 crore, tied to eight flagship programs from 2020-2025, with total collections hitting ₹601.37 crore. “They weren’t educating; they were advising without a license,” one Mumbai-based compliance expert told me over coffee near BKC, flipping through the order’s annexures.
Live Trading Sessions: The Smoking Gun in Sathe’s Programs
Dig into the exhibits, and the live sessions stand out like neon in a blackout. Sathe, mic in hand, would cue up NSE feeds during paid webinars, barking orders like “Enter Bank Nifty at 48,000, SL 47,800, target 49,000.” Participants confirmed placing trades on the spot, with academy staff even nudging loans to cover fees. No disclaimers, no risk warnings—just the thrill of the chase, rebranded as “hands-on learning.”
SEBI flagged this as straight-up violation of the Investment Advisers Regulations and Prohibition of Fraudulent Practices rules. Gouri Sathe, listed as director, handled ops and payments, while Sathe pulled the strings as founder, promoter, and star trainer. Even after the 2024 advisory, the show rolled on, with selective success stories splashed across YouTube thumbnails to lure the next batch.
The Hammer Falls: Market Ban, Impound, and 21-Day Rebuttal Window
The order’s teeth are sharp: Sathe, Gouri, and ASTAPL are sidelined from securities dealings—no buys, sells, or trades, direct or indirect—until further notice. They can’t peddle analysis, live tips, or performance boasts on any platform, from Insta reels to seminar halls. That ₹546 crore? It goes into fixed deposits within 15 days, lien marked for SEBI, with zero diversions or spends allowed—everything suspect heads to escrow.
Future education gigs? Fine, but only if they toe the full securities line, sans any whiff of advice. Sathe’s got 21 days to fire back a “show cause” response; fail to debunk, and a final order could seal the fate. The academy’s already pushing back, calling it a “regulatory vacuum victim” in a statement, but SEBI’s not buying—citing the sheer scale and dissipation risks as reason for the immediate clampdown.
From our chats with a few ex-students in Pune’s trading circles last evening, the fallout’s real: “We paid for skills, got signals instead—and lost big,” one shared, scrolling old group chats on his phone.
Avadhut Sathe’s Rise: From 1991 Trader to 9.3 Lakh YouTube Fans
Sathe’s no overnight sensation—he’s been in the markets since 1991, launching the academy in 2017 as a sole prop before morphing it into ASTAPL. What started with intro sessions snowballed into high-end mentorships, pulling in crowds to the Karjat setup where folks bunked for weeks of “immersion.” YouTube’s his megaphone: 9.33 lakh subs tuning into breakdowns of Nifty swings and “secrets to 100% returns,” with Insta adding 2.15 lakh followers via quick-hit reels.
Revenue rocketed—from ₹17 crore in 2021 to ₹86 crore by 2023, projections eyeing ₹200 crore for 2025. But SEBI Avadhut Sathe ban flips the script, thrusting his empire into limbo and spotlighting the finfluencer wild west, where likes often outpace licenses.
Disclaimer: This article is for informational purposes only and does not constitute investment or legal advice. Always verify with official SEBI sources and consult certified professionals before engaging in market activities. Data sourced from SEBI’s interim order dated December 4, 2025, and related filings.
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SEBI’s order drops like a circuit breaker—pull up the full 125-pager on their site and scan your follow list for red flags. What’s your read on this finfluencer freeze-out?