Avdhut Sathe Challenges SEBI Ban in SAT; Gets Partial Relief, ₹2.25 Cr Withdrawal Allowed

• Avdhut Sathe Trading Academy (ASTAPL) and its promoters challenged SEBI's interim order in the Securities Appellate Tribunal (SAT).
• SEBI had barred ASTAPL for allegedly operating as unregistered Investment Advisers/Research Analysts and ordered confiscation of ₹601 crore.
• SAT granted partial relief, allowing ASTAPL to withdraw ₹2.25 crore for one month's basic expenses, rejecting their request for ₹5.25 crore.
• ASTAPL argued SEBI's order was "economic death" and issued without a hearing, based on only 12 complaints out of 3.5 lakh students.
• SEBI countered that its action was based on concrete evidence, including video recordings, complaints, and a search operation, showing illegal advisory services.

Why It Matters: SAT grants Avdhut Sathe partial relief against SEBI's ban, allowing ₹2.25 Cr withdrawal.