Avadhut Sathe denies 'finfluencer' tag after Sebi search, no tips given

Avadhut Sathe, founder of ASTA, denied being a finfluencer after Sebi's search, saying his academy only trains traders and investors and does not provide stock tips or advice

Avadhut Sathe, founder of the Avadhut Sathe Trading Academy (ASTA), on Tuesday issued his first official response after the Securities and Exchange Board of India (Sebi) carried out search operations at his premises on August 20. Sathe denied being a ‘finfluencer’ or offering stock recommendations, asserting that the academy functions purely as a training platform.

 

In a statement, ASTA described itself as “a training institution and not an advisory service provider or a finfluencer.” The academy said it follows a Gurukul-style learning system aimed at imparting skills, discipline, and the right mindset to navigate financial markets.

 

“We do not publish or circulate research reports or stock tips, provide personalised investment advice, or offer trade calls or assured returns,” the statement added. 

 

ASTA said its focus is on developing independent traders and investors through structured learning programmes. The academy claims to have trained more than 62,000 students across 51 countries. “We acknowledge Sebi’s pivotal role in shaping India’s capital markets,” it said.

 

The regulator has stepped up its crackdown on financial influencers and unregistered advisory activities. In the past year, Sebi has acted against individuals and groups allegedly running stock-tip businesses through YouTube, Telegram channels, and subscription-based models, with several cases relating to pump-and-dump schemes.

 

Under Sebi norms, only registered research analysts and investment advisers are permitted to provide stock recommendations or investment advice.

 

Despite the ongoing probe, ASTA continued to conduct sessions last week, shortly after the search operations. Sebi whole-time member Kamlesh Chandra Varshney, while speaking on enforcement actions recently, said such measures were critical to instil investor confidence. “The enforcement action must be directed at big people, where one can show impact,” he noted.