India Regulator Orders Avadhut Sathe to Refund INR 5.46B

• India’s market regulator ordered options trader Avadhut Sathe and his academy to refund 5.46 billion rupees ($57.5 million).
• The refund order was issued after the regulator found that Sathe and his academy provided unregistered investment advice and research services.
• The services were provided under the guise of stock market education.
• The refund affects course participants who received these unregistered services.
• The order was issued by Sebi, India’s market regulator.