 "Avadhut Sathe Academy to challenge Sebi order, denies allegations")
Avadhut Sathe Trading Academy (ASTA) has “categorically” denied allegations by market regulator the Securities and Exchange Board of India (Sebi), asserting it operates solely as an educational and training institution.
What did Sebi’s interim order direct against ASTA and Avadhut Sathe?
Sebi’s ex-parte interim order, issued on Thursday, barred ASTA and founder Avadhut Sathe from securities market dealings and directed the impounding of Rs 546 crore in alleged unlawful gains.
What allegations did Sebi level against the academy’s services?
The regulator accused the academy of offering unregistered investment adviser and research analyst services disguised as stock market education. It flagged the entire Rs 601-crore fee pool collected since 2015 from over 300,000 participants as under scrutiny.
How has ASTA responded, and what challenge is it planning?
ASTA has said it will challenge the order, calling itself a "victim of regulatory vacuum."
The outfit is expected to move the Securities Appellate Tribunal soon.
What did ASTA say about its training programmes and any advisory intent?
In its statement, the academy stressed that its programmes focus on skill-building and decision-making for investors and traders, without issuing stock recommendations, investment advice, research reports, or executing transactions. It clarified that all session examples and references serve purely educational purposes and lack advisory intent.