Securities and Exchange Board of India (SEBI) barred unregistered financial advisor Avadhut Sathe and Gouri Avadhut Sathe for providing financial advice on market investment in without registration using live market data, according to an interim order published on Thursday (December 4, 2025).

“Preliminary examination in the matter indicated that ASTAPL/AS(Avadhut Sathe Trading Academy Pvt Ltd) was engaged in providing unregistered investment advisory and research analyst services under the guise of stock market education while using live market trading data during sessions. It was further observed that the ASTAPL/AS had collected substantial amounts of fees from unsuspecting investors. In addition, ASTAPL/AS was found to be disseminating misleading information and advertisements through s

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