SEBI has ordered the impounding of ₹53.67 crore from Asmita Patel, her Global School of Trading, and four associated entities for allegedly offering illegal investment advisory services masked as educational courses. The regulator has also called upon Patel and individuals associated with the illegal venture to show cause as to why they should not disgorge over Rs 104 crore, which was the entire amount collected from unsuspecting investors in the form of course fees.
The order passed by SEBI directs Asmita Patel, her institution, and her spouse Jitesh Patel to cease offering unregistered investment advisory and research analyst services. Additionally, all six entities involved are barred from trading in the securities market until further orders.
SEBI’s investigation revealed that Patel’s school was providing stock and options recommendations under the guise of offering stock market training courses. These activities fall under registered investment advisors and research analysts. The probe was initiated following complaints from 42 students.
On January 29, SEBI banned the use of live share price data for educational purposes, particularly targeting finfluencers who offer stock tips as education. The investigation confirmed that Patel’s school was giving buy and sell recommendations through Telegram channels, clearly violating regulations on advisory services.
SEBI has demanded that the entities justify why an additional ₹104.6 crore, collected from various programs, should not be seized. The regulator has also instructed them to immediately remove all related websites, videos, and publications.
Despite the school filing a suo motu settlement application in the matter, SEBI clarified that filing for settlement does not preclude the initiation of proceedings.
As a well-known figure in the online trading community, Patel, also known as the “she-wolf” and “options queen,” had a strong social media presence with a large following on platforms like YouTube, Instagram, and Facebook. Through her website, she offered paid educational courses like ‘Let’s Make India Trade’ (LMIT), ‘Master’s in Price Action Trading’ (MPAT), and ‘Options Multiplier’ (OM).
The news article was first published on February 7, 2025.
