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52 -year -old Avadhoot Sathe is one of the most talked about trading coaches in India.
Avadhoot Sathe Trading Academy (ASTA) issued an official statement for the first time after SEBI’s raid. ASTA said- We do neither print research reports, nor give stock tips, nor personalized investments recommend nor promise trade calls or guaranteed returns.
On August 20, the team of market regulator SEBI arrived for Red at Avadhoot Sathe Trading Academy (ASTA) in Karjat, Maharashtra. A search continued for two days here under the leadership of the Deputy General Manager. Several devices including laptops, mobiles, hard disks and trading data were seized.
According to a report by the NDTV Profit, the earnings from the illegal activities of Avadhoot Sathe, the founder of this academy, can be in the range of Rs 400 to 500 crore. The Sathe is accused that he used to promote Penny Stocks. During training, students used to instigate them for investment.
ASTA said- We are a training institute, not advisory service
ASTA said in its statement, “We are a training institute, not an advisory service or a finfluuser.” The academy reported that they work on the learning system of Gurukul style, which aims to give people skills, discipline and right thinking in the financial market.
ASTA claims that it has trained more than 62,000 people in 51 countries.
Accused of investing money from student in Penny Stocks
SEBI suspects that Sathe Penny used to make his positions first in stocks, then provoked students to invest. Used to sell stocks when the price increased. It is called the ‘pump and dump’ scam.
There is also a charge of creating a Fear of Missing Out on Sathe’s academy. Limited seats, the matter of increasing fees and false promises of guaranteed returns was enticing people.
Kamlesh Vasne said- Unlawful to advise a SEBI license
Kamlesh Vasne, senior member of SEBI, said- The purpose of action on big names is to give strict message to the entire market. Giving live calls without a SEBI license is completely illegal.
Earlier, SEBI had ordered a seizure of Rs 53 crore against Financial Influencers and Asmita Patel, who runs a training academy, in a similar case.
Financial Influencer Mohammad Naseeruddin Ansari was ordered to return Rs 17.2 crore. Ansari was active on social media as “Bap of Chart”.
Growing up in Chawl, worked abroad, then career in stock market
52 -year -old Avadhoot Sathe is one of the most talked about trading coaches in India. Growing up in a chawl in Dadar, Mumbai, Sathe made a career in the IT sector abroad.
In 2007, he left the job and focused on trading and training in the stock market. In 2008, just a small seminar of 12 people started. Today he has a big trading school. ASTA claims that it has trained more than 62,000 people in 51 countries.
Sathe starts dancing in the middle of the lecture of technical analysis in his classes and used to call the students on stage and make the atmosphere fun.
His YouTube channel has more than 9 lakh subscribers and his academy course is priced at around Rs 18,000 per module.
Avadhoot Sathe started in 2008 with a small seminar of just 12 people. Today his journey has reached a big trading school.
According to data from the Ministry of Corporate Affairs, Sathe’s Academy…
- Earned Rs 1.74 crore in 2020-21.
- Earned Rs 37 crore in 2021-22.
- Earned Rs 88.4 crore in 2022-23.
- Earned Rs 115 crore in 2023-24.
- The figure for 2024-25 can reach 200 crores.
More than 200 million demat accounts in India
India’s stock market is now the fourth largest market in the world, where there are more than 200 million demat accounts. The number of retail investors has increased rapidly in recent years.
But SEBI believes that many financial education businesses can take new investors in the wrong direction. Especially those coaches or influencers who advise unlicensed or show the greed for easy profits.
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