SEBI conducts two-day raid at trading guru Avadhut Sathe's academy in Karjat: Report
August 22, 2025
At a FICCI-CAPAM event, SEBI's whole-time member Kamlesh Chandra Varshney confirmed to CNBC-TV18 that the regulator had carried out "big search operation on a big name in this industry." While he did not name Avadhut Sathe, he said the action was taken to send a signal that the regulator is intensifying its enforcement against influencers that misguide retail traders.
In a crackdown on finfluencers, the Securities and Exchange Board of India (SEBI) conducted search and seizure operations at trade and market influencer Avadhut Sathe's academy in Karjat, Maharashtra, on Wednesday, August 20, Moneycontrol reported.
The officials, led by SEBI deputy general manager, knocked on Sathe's door in the early hours of August 20. He has been under SEBI's scanner for months and the search and seizure operation had been long-planned and prepared meticulously, Moneycontrol reported, citing a source.
The operation stretched till Thursday, August 21 evening. Trading data and digital devices were seized for forensic analysis, sources said.
Sources told Moneycontrol that the regulator had sought court approvals in advance, conducted a reconnaissance, and tracked movement patterns prior to the strike.
Sathe runs the Karjat Trading Academy and has a wide following among retail investors. His YouTube channel has around 9.36 lakh subscribers.
Later, at a FICCI event, SEBI's whole-time member Kamlesh Chandra Varshney confirmed to CNBC-TV18 that the regulator had carried out "a big search operation on a big name in this industry." While he did not name Sathe, he said the action was taken to send a signal that the regulator is intensifying its enforcement against influencers who misguide retail traders.
Varshney did not disclose details of the raid, but sources told Moneycontrol that SEBI had received complaints that a few trading academies push penny stocks after colluding with operators. It is possible that these "gurus" are helping operators increase the prices of such stocks by mentioning them as examples of chart patterns and strategies in classrooms
Varshney said one cannot misguide the youth in the name of education, by giving calls in classrooms, promising guaranteed returns, and using live data to trade. One needs to be registered with SEBI to do that, he said.
SEBI's Karjat operation is part of its crackdown on influencers. It has been tightening the rules on social media personalities and market educators, without a licence, who lure investors and promise quick profits.
[CNBC TV18]
