SAT eases curbs, grants partial relief to Sathe

THE SECURITIES APPELLATE Tribunal (SAT) on Friday granted partial relief to Avadhut Sathe Trading Academy, allowing the entity to withdraw money to meet its routine expenses.

- PRESS TRUST OF INDIA

Hearing an appeal filed by the entity following the Sebi order earlier this month asking for the disgorgement of ₹546 crore of illegal gains, the SAT allowed ASTA to withdraw up to ₹2.25 crore for meeting its monthly expenses.

The tribunal kept the hearing for January 9, once it reconvenes after the Christmas break.

On December 4, Sebi had passed an interim order against ASTA claiming that it was offering unregistered investment advisory and research analyst services while operating as an educational and training institute.