Sathe is a financial trader, trainer and mentor based in Mumbai. His LinkedIn profile lists him as the owner of Avadhut Sathe Trading Academy and as a Financial Trader, Trainer and Mentor at the academy.
According to his profile, Sathe has been trading and investing since 1991, with experience across Indian and US markets, including futures and options.
Before his financial-market career, Sathe worked in the technology and corporate sectors. His LinkedIn profile lists him as a Systems Manager at Bombay Port Trust and Mumbai Port Trust, followed by roles as a Senior Consultant at Foundation Technology Services and Senior Solutions Architect at Deloitte Consulting.
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He later worked as Head of PeopleSoft Delivery in Mumbai at Hexaware Technologies from December 2001 to December 2007.
Sathe's profile also lists him as Director at VentureIntellect Solutions Pvt Ltd since January 2008. He has been associated with SADHAN Capital as a partner, SADHAN Ventures as an owner and SADHAN Advisors LLP as a partner.
Avadhut completed his B.E. in Electronics from the University of Mumbai between 1987 and 1991. He later completed an APGDST in Software Engineering from NCST in 1992-93.
What did Sebi find?
In its 171-page final order, Sebi said ASTAPL and Sathe provided investment advice and research recommendations through paid programmes, sessions and WhatsApp groups without the required registration.
The regulator also found misleading promotional representations about returns and said investment advice was provided without assessing the suitability of recommendations for recipients.
The order said the academy and Sathe had collected around ₹601.38 crore from course participants since inception. Of this, ₹546.17 crore was identified for disgorgement and refund.
Sebi has also imposed a total penalty of ₹11.5 crore on ASTAPL, Sathe and Gouri Avadhut Sathe.
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