There’s something about stock market promises that makes people lower their guard.
Maybe it’s the polished language, the confidence in the caller’s voice, or just the hope that this time things will go right.
That’s exactly how it began for Mukul. An ambitious investor from Muzaffarnagar, he wasn’t new to the market. But he wasn’t seasoned enough to see what was coming either.
We were brought in much later, when he was already down ₹1.1 lakhs and full of regret. But before we get there, let’s go back to where it started.
The Facebook Ad and the First Call
It was just another scroll through Facebook. A sponsored post popped up:
“Want to earn consistent profits from the market? Join our expert research advisory team. SEBI Registered. Proven Results.”
Mukul clicked.
A day later, his phone rang.
“Hi Mukul ji, I’m Akshay from Supreme Investrade. I saw your inquiry. Trust me, we’ve helped hundreds of investors earn consistent returns. And yes, we are SEBI registered.”
“But are there guaranteed profits?” Mukul asked, still cautious.
“Sir, if you follow our calls strictly, profit is almost certain. Just give us one week. We’ll give you a demo first.”
He agreed. He wanted to believe them.
The Demo That Cost ₹38,500
The demo began. Trades were given. He followed them.
“Sir, take Bank Nifty 60000 PE. Enter now.”
“Okay… Done.”
But the market didn’t listen.
“We’re in loss. Should I exit?”
“No sir! Wait. It will bounce back. Don’t panic. This is where most people go wrong. We’re expecting reversal in the next 5 mins.”
Mukul hesitated. His loss meter was blinking red.
By the time it was over, he had already lost ₹38,500.
Still, he stayed.
The Full Plan & The Bigger Fall
They convinced him to go for a paid plan. Over three transactions, he paid ₹70,000.
He didn’t realize it then, but he wasn’t just buying stock tips. He was buying stress.
There was one trade—BANKEX 60000 PE Exp July 22, 2024—that he still talks about with a sigh.
“I was losing ₹15,000 already. I told them, ‘Let me just exit now. It’s not working.’”
“Sir, why are you so scared?” came the response from the firm. “We’ve seen this pattern before. We’ll recover and end in profit. Stay calm. Don’t exit.”
He stayed.
He watched that ₹15,000 loss become ₹40,000 in real-time. And the voice on the other end? Now silent.
The Complaint & The Fight
By the time he reached out to us, he wasn’t looking for revenge, he just wanted to feel heard.
He had already tried SCORES, SEBI’s complaint portal, but it hadn’t helped. The reply was generic. Dismissive.
Our team assisted him in taking the complaint forward. That’s where things started moving.
We prepared the case, compiled screenshots, WhatsApp chats, audio clips, everything.
The whole story painted one clear picture: this wasn’t just bad advice. It was a case of misrepresentation, coercion, and regulatory violations.
The Arbitration Room
The hearing was online, via video call. The Arbitrator joined. Both parties were present.
We laid it out.
“The client was actively discouraged from exiting a losing position. That’s not just advisory—it’s interference.”
The firm tried to deflect.
“He signed a user consent. Everything was mentioned. No guaranteed returns. No refunds.”
But evidence spoke louder.
The Verdict
The arbitrator, after hearing both sides, ruled in Mukul’s favour—partially.
The client claimed ₹1,00,000 (₹70,000 service fee + ₹40,000 loss), but the arbitrator only awarded ₹25,000 as compensation.
- Fee Refund: Rejected – The client had signed documents that mentioned fees are non-refundable.
- Loss Compensation: Partially Accepted – Arbitrator acknowledged the client was advised not to exit a losing trade, which increased his loss from ₹15,000 to ₹40,000. So, ₹25,000 was awarded for that excess loss.
- Total Justice? Not full, but some accountability was enforced.
What Can You Learn from This Case?
This case reminded us that SEBI registration doesn’t always mean ethical practices.
If a research analyst:
- Promises returns
- Shows manipulated past performance
- Pressures you to increase your capital
- Or interferes with your trade decisions
You have a reason to question them. And if needed, fight them.
Mukul’s case isn’t rare. But most investors either give up or feel helpless. Don’t be one of them.
If you’re in a similar situation, know this: you don’t have to let it go. There are ways to recover—not just money, but dignity. And we’re here to help you through it.
So, if you have been misguided by any registered or unregistered entity, fill in the details in the form below and our team will assist you in filing a complaint.
