In the wake of SEBI’s search operation at his Karjat Trading Academy, popular finfluencer Avadhut Sathe addressed the concerns raised by the market regulator. Sathe, known for his large online following and YouTube channel with 9.36 lakh subscribers, firmly stated that his academy does not offer stock tips or advisory services.

Speaking in a video after the search, Sathe reassured his followers, saying, “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?” The participants in the video responded with a resounding “no.”

Sathe emphasized that the academy’s sessions and trading modules would continue as scheduled, with no changes in their operations. “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.

The search and seizure operation by SEBI, which lasted two full days, was carried out at Sathe’s Karjat academy as part of an investigation into whether Sathe’s trading academy was offering advisory services without SEBI registration. At a recent FICCI event, SEBI member Kamlesh Varshney clarified that financial influencers who provide investment tips or assured returns must register with SEBI, while educators promoting investor awareness are exempt.

Sathe’s academy has gained significant attention for its unconventional teaching methods, including viral videos of Sathe dancing in front of live market tickers. His channel often showcases success stories of retail investors, further boosting his popularity in the trading community.

As the investigation continues, Sathe maintains his stance that his academy focuses purely on educational content and not on providing financial advice.

Image Source: Moneycontrol News