The Securities and Exchange Board of India (Sebi) has barred Avadhut Sathe Trading Academy Pvt Ltd (ASTAPL) and its founder Avadhut Dinkar Sathe and director Gouri Sathe, for offering illegal investment advice under the pretext of stock market education. The regulator has also impounded funds collected through these activities.

In the order, the regulator said ASTAPL was conducting paid sessions where the trainer gave direct stock tips, entry and exit levels, stop-loss, targets, and even placed live trades during classes.

Sebi said these actions are considered as investment advisory and research analyst services, for which they aren’t registered.

SEBI noted several transcripts where Sathe predicted stock movements, suggested long or short positions, set targets for specific stocks like

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