India’s market regulator has ordered options trader Avadhut Sathe and his trading academy to refund 5. 46 billion rupees ($57. 5 million) to course participants after finding they provided unregistered investment advice and research services under the guise of stock market education.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-10-24/india-regulator-orders-options-trainer-avadhut-sathe-to-refund-inr-5-46b)