SEBI raids ASTA in crackdown on unregistered market educators

In a move signaling India’s tightening oversight of retail trading education, SEBI conducted a two-day search and seizure operation at Avadhut Sathe’s Karjat-based Avadhut Sathe Trading Academy (ASTA) from August 20 to 21. Officials seized trading data, digital devices and other materials for forensic analysis as part of a broader regulatory push to curb unregistered market coaches who allegedly misuse education as a cover for advisory activity and market manipulation. The operation, described by regulators as meticulously planned and supported by prior court permissions, underscores growing concern that some finfluencers may mislead investors, particularly by promoting penny stocks or providing live-trading tips without proper registration.

SEBI’s action comes as part of a wider crackdown on unregistered influencers who operate in the equity space under the guise of education. A senior regulator described the raid as a strong signal that misguidance of retail traders will not be tolerated, emphasizing that giving stock calls, promising guaranteed returns, or trading live data without registration is prohibited. While the regulator has not publicly named Sathe, officials...