Mumbai: The Securities and Exchange Board of India (SEBI) on Thursday banned popular financial influencer Avadhut Sathe and his company Avadhut Sathe Trading Academy (ASTAPL) from the securities market. SEBI also ordered them to jointly pay back Rs 601 crore, which he allegedly earned through unregistered investment advisory activity by misleading 3.37 lakh investors, reported Economic Times. The amount also included interest.

SEBI's order also asked Sathe to immediately stop giving investment advice or any research services, reported The Financial Express. The financial influencer and his company's bank and demat accounts will be frozen. Limits will be placed on these accounts on any kind of withdrawals or transactions.

As per the regulator, ASTA and its promoters collected over Rs 601

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