India’s financial markets regulator, the Securities and Exchange Board of India (SEBI), has intensified its scrutiny of financial influencers. The latest to come under the scanner is Avadhut Sathe, a well-known market trainer and founder of Avadhut Sathe Trading Academy (ASTA).
SEBI’s Allegations and Probe
According to sources, SEBI suspects Sathe of providing unregistered investment advisory services, with alleged illegal gains estimated between ₹400–500 crore. Initially, SEBI was preparing to issue an order, but it instead opted for a full-fledged search operation to gather deeper evidence. Officials confirmed that Sathe’s online content and activities are being examined.
At a FICCI event, SEBI Whole-Time Member Kamlesh Varshney indirectly referred to the operation, stating that enforcement actions were meant to deter misconduct and reinforce regulatory discipline. He clarified that while genuine investor education is welcome, offering investment calls, guaranteed returns, or using live market data without registration is prohibited.
The Avadhut Sathe Trading Academy
Founded in Mumbai, ASTA presents itself as an institution rooted in “respect for the god market.” It operates through two wings: Knowledge and Wisdom, which provides structured learning and mentorship, and Energy, which emphasizes discipline, patience, and community values under the philosophy of “All for One, One for All” (AFOOFA).
ASTA has built an extensive network, with centres in major Indian cities such as Delhi, Bengaluru, Kolkata, Chennai, and Pune, as well as international outreach through trainers in North America. The academy also developed its own digital tools, including the Gurukul Learning System and performance-tracking platforms.
Growing Influence, Rising Concerns
With over 600 members and 200 ASTA Satsang Centres, the academy has attracted a large following. However, SEBI’s probe highlights the growing challenge of balancing financial education with regulatory compliance. The regulator has repeatedly warned influencers against crossing the line between teaching and advisory, especially when monetary gains are involved.
What’s Next?
The investigation into Avadhut Sathe’s operations is still underway, and SEBI has yet to release an official order. For now, the case underscores the tightening regulatory environment for India’s booming finfluencer community, where the line between mentorship and advisory continues to blur.
