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Avadhut Sathe, his trading academy barred by SEBI from markets; asked to pay Rs 546 crore disgorgement


Avadhut Sathe, his trading academy barred by SEBI from markets; asked to pay Rs 546 crore disgorgement

Besides, SEBI has also directed the two to disgorge Rs 546.16 crore of 'unlawful gain' earned from the alleged unregistered investment advisory and research analyst business.In a 125-page interim order cum show cause notice, SEBI said that its "investigation has revealed that, prima facie, the funds were collected in the accounts of ASTAPL and AS". It noted that director Gouri Avadhut Sathe was involved in the day-to-day affairs of the company, but was not found to be providing any investment advisory/research analyst services to the course participants.

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