Archive · 19 Dec 2025
SAT Grants Relief to Avadhut Sathe
Avadhut Sathe and his trading academy, ASTA, were stopped from operating by SEBI, the stock market regulator.
SEBI said ASTA was giving investment advice without proper registration and made false promises about big profits.
ASTA said they are just an educational institute and not giving investment advice.
They also said SEBI's action was too harsh and not fair.
A higher court called SAT agreed and allowed ASTA to start working again while the case is being decided.
The next hearing is on Friday.
SAT granted interim relief to Avadhut Sathe and ASTA, allowing them to resume operations.
SEBI had barred ASTA from dealing in securities and ordered the impounding of Rs 546.16 crore.
ASTA argued that SEBI's ex-parte interim order violated principles of natural justice and proportionality.
ASTA claimed the Rs 601.37 crore collected was for tuition fees, not investment or advisory services.
SAT appeared to share concerns raised by ASTA regarding the regulatory vacuum and the nature of the allegations.
- Who
- Avadhut Sathe, Gouri Sathe, and Avadhut Sathe Trading Academy (ASTA)
- What
- SAT grants interim relief to ASTA, allowing resumption of operations
- When
- Next hearing on Friday (date not specified)
- Where
- Securities Appellate Tribunal (SAT), Mumbai
- Why
- SEBI's ex-parte interim order barred ASTA from the stock market, prompting an appeal
SEBI's Stance
ASTA's Defense
Nature of Operations
SEBI's Stance
ASTA was running unregistered investment advisory and research analyst services.
ASTA's Defense
ASTA operates as an educational and training institution, not providing investment advice.
Urgency of SEBI's Action
SEBI's Stance
SEBI's ex-parte interim order was necessary to prevent immediate harm to investors.
ASTA's Defense
There was no urgency warranting such drastic intervention by SEBI, violating principles of natural justice and proportionality.
Use of Market Data
SEBI's Stance
ASTA misused live market data for advisory purposes.
ASTA's Defense
ASTA used market data for educational purposes with a one-day lag, as per Sebi's 2024 circular.
- Amount Disputed
- Rs 601.37 crore
- Regulator
- Securities and Exchange Board of India (SEBI)
- Tribunal
- Securities Appellate Tribunal (SAT)
- Date of Sebi Order
- December 4
- Allegations
- Unregistered investment advisory and research analyst services
- Ban Imposed
- Avadhut Sathe and ASTA from securities market
- Next Hearing
- Friday (as per SAT cause list)
- Number of Complaints
- 12 out of 337,000 investors
- Interim Relief Granted
- ASTA allowed to resume operations
Sources
Avadhut Sathe Moves SAT Against Sebi Order
SAT allows ASTA to operate, use accounts for expenses ahead of January 9 hearing
SAT grants interim relief to Avadhut Sathe, allows trading academy to resume operations
SAT lifts ban on Avadhut Sathe Trading Academy
