Market trainer and finfluencer Avadhut Sathe sought to clarify his organisation's stance to his students on Friday, claiming that his group does not provide stock tips or advisory services, as per an exclusive video accessed by NDTV Profit.This development comes as the Securities and Exchange Board of India had conducted a search operation at Sathe's trading academy, for offering unregistered advisory services. Sources told NDTV Profit on Thursday that his illegal earnings may be between Rs 400 and Rs 500 crore."Do you get any advisory service here?" Sathe asked students during a session in the video, to receive a unanimous "no."Sathe further said that his team is "fully cooperating with the authorities" and added that "all our events are going as per plan."SEBI, which had earlier planned to issue an order against Sathe, decided to launch search operations. A detailed investigation is now underway. His digital content is also being reviewed.The operation, which began early on Aug. 20, lasted over 10 hours and concluded in the evening.According to sources familiar to NDTV Profit, SEBI officials arrived at the academy premises around 7 a.m. on Wednesday.At a FICCI event on Thursday, SEBI member Kamlesh Varshney confirmed a major search operation in Mumbai against a top finfluencer. Though not named officially, sources identified Sathe as the person under the scanner."We have carried out a big search operation on some big name in this industry. Enforcement action is not for revenue collection, the purpose is to create deterrence and show that the regulator is watching," he said.Varshney further clarified that financial influencers offering guaranteed returns or investment calls cannot do so without SEBI registration. Using live market data in classes also requires SEBI approval. However, genuine educators focused solely on investor awareness are welcome and do not need registration, he said.Fake App Alerts: How to Spot Fraud In Loan, UPI And Credit Score Apps. Read more on Business by NDTV Profit.