Economy
Sebi bars Avadhut Sathe Academy, levies ₹11.5 crore fine
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THE BRIEF
1
The Securities and Exchange Board of India imposed ₹11.5 crore in total penalties on Avadhut Sathe Trading Academy and its directors for unregistered investment advisory services.
2
The regulator ordered founder Avadhut Dinkar Sathe and the academy to disgorge and refund ₹546.17 crore to eligible investors alongside ₹67.87 crore in interest.
3
Sebi barred ASTAPL and Sathe from securities markets for two years and restricted Gouri Avadhut Sathe from trading for six months.