SAT Allows ASTA to Operate, Use Accounts Amid SEBI ₹546 Cr Dispute

• The Securities Appellate Tribunal (SAT) allowed Avadhut Sathe Trading Academy (ASTA) to continue operations and use bank/demat accounts for expenses.
• SAT expressed shock over SEBI's order directing ASTA and Avadhut Sathe to deposit ₹546 crore and barring them from trading/collecting fees.
• ASTA argued SEBI's ex parte order violated natural justice, citing 3.5 lakh students trained versus only 12 complaints.
• Senior counsel Janak Dwarkadas highlighted ASTA's ₹5.25 crore monthly expenses, making operations impossible with frozen accounts.
• The tribunal maintained status quo, allowing ASTA to function, with the next hearing scheduled for January 9, 2026.

Why It Matters: SAT permits ASTA to operate and use accounts, questioning SEBI's ₹546 crore deposit order.