SEBI has issued an ex-parte interim order-cum-show cause notice against Avadhut Sathe Trading Academy (ASTAPL), its founder and finfluencer Avadhut Sathe and director Gouri Avadhut Sathe. The market regulator alleged that the academy carried out unregistered investment advisory and research analyst activities while presenting them as stock market education.

SEBI has banned Sathe from the securities market and ordered the impounding of Rs 546 crore from him and his wife. SEBI said that this was the "total unlawful gain earned prima facie from the alleged unregistered investment advisory and research analyst business".

Who is Avadhut Sathe?

Avadhut Sathe is a finfluencer, dabbling in the markets since 1991. He grew up in a modest chawl in Dadar, central Mumbai, before moving to Mulund i

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