Most people discover financial advisory services when the market is already moving, and they are afraid of missing out.
A flashy social media post, a promise of “consistent” returns, a supposedly “free” trial, and suddenly a subscription is purchased without asking the most basic question: who exactly is advising me, and are they actually accountable for what they say?
Abhijit Patil, a Kolhapur-based SEBI-registered Research Analyst and the founder of Patil Research, has built a platform that explicitly rejects the noise and hype that characterise much of India’s retail advisory space.
His stated motto, “Research with Responsibility”, is a deliberate counter-positioning in a market where unregistered operators continue to proliferate.
Many investors often ask, can we trust SEBI registered research analyst in India when so many scams exist?
In this blog, we take a structured look at his regulatory standing, what Patil Research offers, what the official complaint data shows, and what every investor must understand before engaging with any SEBI-registered research analyst.
Abhijit Patil Review
Abhijit Patil is the founder and principal analyst at Patil Research, operating under his entity SOSM Services Private Limited (School of Stock Market).
He holds a valid SEBI Research Analyst registration (Reg. No. INH000021304) and is also enlisted with the BSE under enlistment number 6585.
His registered office is at B4/5, Omkar Plaza, Rajaram Road, Near ICICI Bank, E Ward, Shahupuri, Kolhapur, Maharashtra – 416001.
A technical analyst and full-time trader since 2016, Abhijit Patil has carved out a distinctive identity in Maharashtra’s financial education landscape.
He is not just a report publisher; he is also the driving force behind the School of Stock Market, a stock market education initiative that has trained over 3,000 students across equity, F&O, commodity, and currency markets.
A notable feature of his teaching approach is that courses are conducted in Marathi, making financial knowledge genuinely accessible to investors and aspirants from smaller towns and non-metro regions of Maharashtra.
What makes Patil Research stand out in the advisory ecosystem is its deliberate alignment of financial research with investor education.
The platform’s core philosophy is built around four values that are reflected in both how research is delivered and how students are taught.
The website is clear about what the platform does not offer: no guaranteed returns, no assured outcomes, and full disclosure that all services are prepared in compliance with SEBI’s regulatory requirements.
This baseline transparency is consistent with the mandatory SEBI Guidelines for Research Analyst in India, and it is worth noting that many advisory services fail to meet even this minimum standard.
Through the School of Stock Market, Abhijit Patil extends beyond the typical RA model by running structured training programmes covering fundamental analysis, technical analysis, IPO analysis, options trading, price action, and live market decision-making.
His wife, Priyanka Abhijit Patil, a NISM-certified Technical Research Analyst and Forex trading expert, plays an active role in the education division.
Grievance disclosures under SEBI norms provide insight into how an advisory firm handles investor concerns.
For Patil Research, publicly available data reflects zero complaints across recent reporting periods, with no pending or unresolved cases.
As a newly registered entity, this aligns with baseline compliance standards.
However, the absence of complaints doesn’t fully capture user experience or satisfaction levels. Clean records help, but independent verification remains essential.
What SEBI Allows a Registered Research Analyst to Do?
Under SEBI (Research Analysts) Regulations, 2014, Abhijit Patil and Patil Research operate within a clearly defined regulatory scope.
Understanding this framework is essential for any investor considering their services.
- Publish Structured Research Reports: Registered RAs can release analysis-backed reports on listed Indian equities, sectors, and market trends, including valuations, technical signals, and risk assessments. Reports must be unbiased, documented, and accompanied by clear disclaimers.
- Share Research-Backed Recommendations: Stock recommendations may be provided when supported by documented analysis. These must be framed as research outputs, not as guaranteed outcomes or trading instructions.
- Provide Investor Education: RAs are permitted to conduct investor education programmes. Patil Research’s integration of a formal training school, the School of Stock Market, represents a broader commitment to investor empowerment within the permitted scope.
- Charge Transparent, Fixed Subscription Fees: Research service fees are permissible, provided the fee structure is disclosed in writing before services begin, and is in no way linked to the client’s trading profits or capital gains.
What SEBI-Registered Research Analysts Cannot Do?
Registration with SEBI creates legitimacy, but it also comes with hard boundaries.
Investors must understand what a registered RA is categorically prohibited from doing, regardless of how well-intentioned the firm may be.
- No Guaranteed Return Promises: No market outcome can be assured. Patil Research’s own website explicitly states this, but it is worth reinforcing for any investor who hears otherwise from any advisory service: guaranteed profits are a regulatory violation.
- No Portfolio Management Without Separate Registration: Running discretionary investment portfolios for clients requires a separate SEBI Portfolio Manager registration. A Research Analyst licence authorises research outputs, not active asset management.
- No Profit-Linked Fee Structures: Subscription fees must be fixed and pre-disclosed. Arrangements where the analyst earns a percentage of client gains constitute an impermissible conflict of interest under SEBI regulations.
- No Selective Performance Reporting: Highlighting only successful recommendations in marketing material while omitting losing calls creates a misleading impression of accuracy. SEBI’s disclosure standards require balanced, honest performance reporting.
- Mandatory Documentation Before Any Service Begins: Clients must receive a signed service agreement, a risk disclosure document, and all SEBI-mandated disclosures before any subscription commences. Absence of proper documentation is itself a compliance failure.
What Should You Do If Problems Arise With Your RA?
Even with a firm that maintains a clean complaint record and an education-first philosophy, investors must know the redressal pathway available to them.
Having this knowledge in advance, before any issue arises, is always the right approach.
Step 1- Gather Your Evidence: Start by collecting every possible piece of evidence related to your issue.
This includes the following:
- payment receipts
- WhatsApp chats
- emails
- call recordings if available
- trade details
The stronger your documentation is, the easier it becomes to explain your situation and get your complaint taken seriously.
Step 2- Contact the Firm Directly: Before jumping to formal complaints, try reaching out to the company itself. Clearly explain your concern and give them a chance to resolve it. In many cases, issues get sorted at this stage if the communication is clear and timely.
Step 3- File a Complaint in SCORES: If you do not get a satisfactory response, the next step is to file a complaint on the SEBI SCORES portal. This is an official platform where your complaint gets registered and forwarded to the company for resolution. It also ensures there is a proper record of your issue.
Step 4- Lodge a Complaint in SMART ODR: If the issue remains unresolved, you can move to the SMART ODR platform. This system allows disputes to be handled online through mediation or conciliation, which saves both time and effort compared to traditional methods.
Step 5: Share Market Arbitration: If none of the above steps work, arbitration becomes the final option. In this process, an independent authority reviews your case and gives a decision based on facts and evidence. While it is more formal, it can be effective in serious disputes.
Need Help?
Whether you are evaluating a research analyst before subscribing or dealing with an issue after the fact, navigating India’s investor protection system can feel complex, even when the firm in question appears to be operating in good faith.
You can register with us, and we will help you understand:
- How to independently verify SEBI registration status and any regulatory history
- How to identify what a firm is, and is not, licensed to provide under its specific SEBI registration
- How to draft structured, evidence-backed complaints to SEBI, SCORES, or cybercrime authorities
- How to use the SMART ODR and arbitration process if standard grievance resolution falls short
Conclusion
Abhijit Patil is associated with Patil Research, a SEBI-registered Research Analyst based in Kolhapur, Maharashtra.
The firm highlights his experience in the markets as a technical analyst and trader, along with claims of having trained over 3,000 students through the School of Stock Market.
It also presents a stated philosophy of “Research with Responsibility,” which emphasises avoiding guaranteed returns or speculative assurances.
As per publicly available records, no complaints have been reported against the entity across disclosed periods.
However, investors are encouraged to independently verify such information through official regulatory sources.
The website includes standard regulatory disclosures and disclaimers. It also features educational content alongside its research offerings, indicating a focus on investor awareness in addition to its services.
Before subscribing to Patil Research or any SEBI-registered Research Analyst, it is important to carefully review the service agreement, fee structure, and risk disclosure documents.
Investors should also verify the registration status on the official SEBI website, understand the scope and limitations of a Research Analyst licence, and ensure all required onboarding documentation is provided.
Ultimately, making informed decisions requires independent due diligence and a clear understanding of the risks involved, even before acting on any recommendation.
