SEBI orders Avadhut Sathe academy to refund Rs 546 crore

SEBI has directed trader Avadhut Sathe and his Avadhut Sathe Trading Academy to refund Rs 546.17 crore collected from participants, plus Rs 67.87 crore in interest, for running unregistered investment advisory and research analyst services. The regulator also imposed penalties of Rs 11.5 crore and ordered the refunds to be completed within five months.