Finfluencer Avadhut Sathe has come under fire after being embroiled in major controversy surrounding the eligibility of his investment firm. The Securities and Exchange Board of India (Sebi) has barred Sathe from accessing the securities market after the statutory took alleged that the market trainer and his academy unlawfully operated an investment advisory business.

The market regulator found Rs 546.16 crore as illegal gains by the owner and his firm, Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL), which it had ordered to be seized. Before SEBI took the action, it had ordered a search and seizure operation at his Karjat residence and academy in August.

Sathe was long under Sebi’s radar for offering stock recommendations falsely terming it as investor education. The operation, which was

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