‘We don’t give tips’: Avadhut Sathe responds after SEBI search at Karjat academy

Popularly called a 'market guru' on social media, Avadhut Sathe runs the Karjat Trading Academy and has attracted a large retail investor base. His YouTube channel has 9.36 lakh subscribers.

A day after SEBI’s crackdown, finfluencer Avadhut Sathe asserted that his group does not provide stock tips or advisory services. In a video accessed by Moneycontrol, Sathe stated that his academy’s classes would continue regardless of the market regulator’s action.

"Yes, SEBI did visit our Karjat Gurukul residential facility to verify whether we provide any advisory services and you all know that we do not provide any advisory services… Guys do you get any advisory service here? Do you get any tips here?" Sathe asked, as participants responded with a chorus of "no."

"We are fully cooperating with the authorities...All our sessions and modules are going as per the plan. There is absolutely no change," he added.

Also Read: Who is Avadhut Sathe, the finfluencer SEBI cracked down on?

The remarks came after the Securities and Exchange Board of India conducted a search at Sathe’s trading academy in Karjat. Moneycontrol had first reported on Thursday that SEBI officials carried out a search and seizure operation lasting two full days.

Popularly called a “market guru” on social media, Sathe runs the Karjat Trading Academy and has attracted a large retail investor base. His YouTube channel has 9.36 lakh subscribers.

The channel often highlights customer success stories, from a homemaker making 50 percent returns in three months to another who crossed the Rs 1 crore mark within 2.5 years of trading.

Sathe gained wider attention in 2023 after a video of him dancing in front of a screen with live market tickers at his Pune academy went viral. While netizens mocked the unconventional teaching style, students present joined the celebration.

Also read: Sebi raids trading guru Avadhut Sathe’s Karjat Academy in crackdown on finfluencers

At a FICCI event on Thursday, SEBI member Kamlesh Varshney clarified that financial influencers offering investment tips or assured returns require SEBI registration. He added that the use of live market data in teaching sessions also mandates approval, while genuine educators promoting investor awareness do not need registration.

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