Avadhut Sathe Trading Academy Private Limited
- Refund of INRMentorship 11 Program Team 3 Akash Chhabra ASTA Student ID Open
Akashdeep Chhabra filed this complaint against Avadhut Sathe Trading Academy Private Limited on Mar 24, 2024
Resolution Demanded:
Refund
To AVADHUT SATHE TRADING ACADEMY PRIVATE LIMITED
Office No ***; Flying Colors Premises Co-op Soc. LBS Cross Road;
Mulund W; Greater Mumbai (M corp.) Mumbai; Mumbai; Mumbai; Maharashtra; ******; India
+** **********, +** **********
Email : enquire@avadhutsathe.com
*. I am Akash Chhabra, student of the Mentorship Program **, which started on **th March **** and completed on **th February ****; with an intent of becoming a professional trader.
*. AVADHUT SATHE TRADING ACADEMY claims that they are capable of training on Trading and Investing by posting their goal on your website (https://www.avadhutsathe.com) to help One Lac professional ASTAians cross *Cr. Milestone through financial markets, by ****. And, you claim that this is only your first milestone.
*. The website also shares that their want to enable people to get Financial Independence for every class of people in India
*. The vision shared on the site is:
What? ->To empower people to leverage their inner potential, the innumerable opportunities of God Market, and the power of collective.
How? -> Through our unique ability to impart knowledge, skill, wisdom, and establish human connection.
Why? ->To help people experience the abundance of this universe and contribute to the betterment of society.
*. ASTA mission states as:
To develop individuals who posses the character that deserves to attain financial independence
To build an army of Independent professional traders who have the ability to draw returns from any financial market
To bring financial independence to every Indian class
WHY is support essential? ASTA gives you an environment where you can blossom.
*. The first introduction program to ASTA is Eye Opener, where Avadhute Sathe personally talks about the basics of market and how easy it is to make money if you know the basics. Additionally, he personally identifies a live opportunity which is expected to work in coming *-* days and proposes that people meet again in a free follow up session next week. Then he shows them how the opportunity he dentified made him money. This implies that he knows the traits of the trade in the stock market and then encourages attendees to join the stage * program GEO. This is enticing for people to sign up into the program and making a claim that they can do the same as they learn from ASTA. This is when they are actually initiating the future course on the foundation that there is something materialistic they will teach that works in the market. I paid ***/- for the same on April **, ****.
*. This program also gives a money back guarantee before the main seminar session. So, as a whole this ascertains the belief further and they sign up for at least the SMM. i.e. **,***/- This leads to people joining the Stage * program called GEO
*. The stage * program GEO (* Modules i.e. Level * (SMM), Level * (PAPA), Level * (FOME) and Level * (GUE) that costed me combied - **,***/- claims to teach the basics and how it is enough for people to identify opportunities and get profitable in markets; as you show in your eye opener session every week. Payment details are as follows:
- * May ****: Rs **,***/-
- ** June ****: Rs **,***/-
*. The GEO program is well structured that it teaches the basics well. However since the students have learnt it for the first time their belief in the program and ASTA strenghtens and they are all thankful at this stage. The reviews and video testimonials of your students, in your advertisement on your you tube channel just as they are doing GEO or copleted are showcased to project how they loved the program and how useful that was. However, while the objective of the ASTA is to enable all classes of people to attain fincancial freedom. At this stage ASTA doesnt even know if these students giving testimonials are making profits or losses however, ASTA still uses their testimonials to promote their courses giving an impression that ASTA has done it for them. This is giving false belief to your potential students that ASTA students are taught well and they become capable to become financially independent even as they complete GEO.
**. The website states that ASTA Mentorship Program is designed to transform you into - *. A joyful person. *. who deserves success. *. Follows their passion and enjoys financial freedom. This implies that this claim is true for all your mentorship students, which is certainly misrepresentation of facts.The website also mentions that how do participants benefit? - i.e. *) They develop skills in stock selection, planning of trades and execution, *) Mind is meticulously trained to tackle greed, fear and anxiety and *) Strong virtues and character is developed, which goes a long way in determining the stock market success. This is again overstating the capability of program and implied promise to student that this will happen with them.
**. During the pitch of the Mentorship program in Q* ****, it was projected that the Mentorship program gives mentees the knowledge and depth of trading; for one to become a professional trader. It was implied in every discussion that the required learning will be offered and then it only depends on the efforts one puts in, as to how and when people succeed in becoming a professional, independent trader.
**. Basis all the explicit and projected claims of the Mentorship program I had joined the Mentorship Program ** believing the portrayed strength and capability of the program and its implied enriched content and structure; by paying a hefty the fee of Rs *,**,***/-. Prior to the mentorship program, I had completed the * month GEO program batch *G ** of Delhi Funnel, which started on *th June and completed on ** September ****. I had paid Rs **,***/- for the program. GEO was indeed a wonderful program and the quality and effectiveness of the content was excellent, which had made me believe in ASTA's claims on the Mentorship program's capability
Mentorship (Entire fee (INR) paid in ****)
Dates Fee GST Total Payment
**-Oct ****** ***** ******
**/**-Oct ****** ***** ******
**-Oct ****** ***** ******
**-Nov ****** ***** ******
**-Dec ***** **** *****
****** ****** ******
**. After completing the Mentorship program, I feel that the program lacks the content, depth and structure that was projected. I believe ASTA is using the strength of the GEO program to instill belief in ASTA students for them to opt for more expensive programs like GEO plus program and Mentorship program (being at the top). I have always believed throughout the program hoping that we will be taught technical analysis, Price action, Futures and options well enough for one to confidently learn to trade and invest professionally and befome financially free. Now that the monthly classes have completed along with the two offsites, where I paid approx **,***/- each time for workshop and stay to ASTA, the program has come to the conclusion. My eyes can clearly see the truth of the ASTA's mentorship program. I have decided dis-associate my relationship with ASTA as ASTA is apparently misrepresting the facts while selling these programs to students.
**. ASTA's testimonial on your you tube channel are posted with taglines that make the potential and existing students give mis-represnted and unrealistic impression of what ASTA programs can do. Some of the testimonial taglines on your you tube channel read as :
a) All rounders of Stock market with All-rounder training from ASTA
b) ASTA - Right place for women to start their stock market career
c) ASTA - (Great Platform for Women) to achieve worklife balance
d) Joined ASTA's mission of creating * lakh Crorepatis from the stock market
e) Personalized Attention & Handholding by ASTA Trainers & monitors is key to success
f) Got clarity on when to trade/invest
g) ASTA - Become a pro, money will flow
h) Empowering Housewifes to become Financially independent via Stock market Trading
i) Acquired Trading as well as Life Skills at ASTA
j) ASTA is fully equiped spaceship that helps travel the entire stock market universe
k) Tried and Tested Trading lessons at ASTA
l) Reach your desired stock market Destination with ASTA
m) Up your trading game at pros at ASTA
n) Perception of stock market as gambling changed completly after joining ASTA
o) ASTA Trainers and monitors are passionate teachers with lot of patience
p) Decision of joining ASTA is turning points in my life
q) Rediscovered my self respect & Confidence After joining ASTA
r) Learning to handle my finances after joining ASTA
Most of the above taglines mis-represent to potential students that ASTA will not only change their life by making them financially successful but also will give them life skills and help rediscover their self respect and confidence. These taglines are created by ASTA and posted on the you tube channel substantiates that ASTA willfully making false claims to promote and sell their cources without validation of the facts and capturing and replaying emotional moments during or after GEO program
**. ASTA also had testimonials on the website at the time of signing up how their mentees are generating consistent *%-**% returns month on month. Some of those testimonials have been removed from the website. ASTA also showcased Ashmit's video and Sankashti's video to project how easy it is with ASTA for even kids to earn money using stock market. Additionally, how Laxmi's of ASTA projected that how your students are successful due to your program
a) One has made * lac profit in * month. And then takes a leap from * lac to * cr leaving her *-* job behind
b) Second one generating *% ROI month on month
c) A Student who finds the right balance of fulfilling her dreams and creating wealth due to ASTA's learnings
d) A student who as per you attributes ASTA for relieving her from Rat race while making ***% ROI in Sep
e) A student that makes **% roi consistently by applyling ASTA strategies
f) A student that earns * lac profits on a capital of ** lacs in * months after GEO program
g) Another one earning **% ROI per month through commodity trading on capital of * lac
h) Another home maker who describes learnings of ASTA as fun filled and made **% ROI in * months after GEO
i) A homemaker who achieved * cr milestone in *.* years by trading Bank Nifty options
j) IT professional who earned **% profit on capital of * lacs by trading Natural Gas mini in * months
**. The above testimonials in-fact taking students for granted by building hopes of a good future and charging them exorbitant sums of money by luring them into expensive programs like Geo plus and Mentorship programs eventually
**. Also, I have some of the artifacts which prove that Avadhute Sathe is sharing advisory using Whatsapp messages; which as per SEBI can only be done by designated and qualified advisors.
**. It is also noted that Avadhute Sathe shares his live positions and MTMs to create the belief in the minds of students or potential students that if they keep sticking around, one day they will learn too. And, this pushes the students to keep opting for the programs and groups that are sold to them at various stages
**. It also have been observed that some of the Monitors, who are guiding and handholding students at various programs like GEO and others, are themselves struggling to be profitable in the stock market and trading. Some of them are working for remuneration and some to get discounts to be part of so called specialized expert communities where they identify opportunities and share. This again is like advisory at various level and should not be done
**. I would like to highlight that I had only received "Instamojo" receipts and not Tax invoices for the dates I made payments. I would like to demand the GST TAX Invoices for all my payments to ASTA with exact dates
**. I hereby request ASTA to refund the fee charged i.e. *,**,*** for the Mentorship program ** on various accounts stated above.
**. I have already shared the cancelled cheque and my Bank account information to process the refund. Request you to process the refund within * days of receipt of this notice.
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