If you searched for a complaint against Aurostar Investment Advisory, you are likely trying to verify whether your own experience matches others, or you want to know whether taking action makes sense.
Either way, this blog gives you the complete picture from verified regulatory data and a real arbitration case to actual user complaints and a step-by-step guide to fight back.
Aurostar Investment Advisory Review
Aurostar Investment Advisory Private Limited is a Prayagraj, Uttar Pradesh-based financial advisory company incorporated on 23 July 2020, having its registered office at 5B/1 Calvin Road, Civil Lines, Allahabad.
The company holds a SEBI Investment Adviser registration under INA000018434 (valid from September 14, 2023, perpetual) and a SEBI Research Analyst registration under INH000021979.
The firm provides recommendations across equity, F&O, and commodity markets.
Notably, the firm’s own website carries a disclaimer stating it does not provide profit sharing or guaranteed returns, a disclaimer that directly contradicts what multiple investors and a formal arbitration panel have found in practice.
Profit Sharing Violation By Aurostar Investment Advisory
A formal complaint against Aurostar Investment Advisory reached the NSE arbitration panel, resulting in a signed final arbitral award that establishes a documented legal record against the firm.
The arbitration proceeding, Matter No. NSE-IA-2024-09-537449 on 14 January 2025 at Kolkata, conclusively found multiple SEBI violations by Aurostar.
What Was the Case?
Md Tousif Uddin filed an arbitration case against Aurostar Investment Advisory Private Limited after the company allegedly failed to comply with a conciliator’s finding of ₹1,47,500 in his favour.
He later claimed total losses of ₹16.2 lakh, including trading losses, subscription fees, and EMI interest on a loan he said he took based on the company’s advice.
According to the arbitration findings, Aurostar allegedly promised high profits, used risky no-stop-loss strategies, demanded extra “loss recovery” fees, and claimed it could influence stock prices through coordinated trades.
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Violations by Aurostar Investment Advisory
Multiple arbitration findings and investor complaints have raised serious concerns regarding the practices followed by Aurostar Investment Advisory.
1. Promising Assured Returns and Profit Sharing
Aurostar assured the investor of high profits and proposed a profit-sharing arrangement of 40% before initiating the disputed trade.
SEBI’s Investment Advisers Regulations, 2013 explicitly prohibit IAs from promising guaranteed or assured returns and from entering profit-sharing arrangements with clients.
2. Advising Averaging Without Stop Loss
Aurostar’s representatives advised the investor to repeatedly average his position in Bank Nifty options, adding to losing trades, multiple times, without placing any stop loss protection.
This advice allegedly violated SEBI IA Regulations requiring recommendations to match an investor’s financial profile and risk capacity.
3. Charging Fees Beyond the Prescribed Limit and Demanding Extra Amounts
After charging the maximum SEBI permitted fee of ₹1,47,500, Aurostar allegedly demanded additional “loss recovery” payments under threat of stopping services.
The arbitrator also found that the company used family members’ accounts to bypass SEBI fee limits.
4. Delivering Advice Through WhatsApp in Violation of SEBI Guidelines
Although Aurostar officially claimed it provided advice only through SMS, the arbitrator found that the firm also used phone calls and WhatsApp for trading instructions.
Providing paid investment advice through WhatsApp may violate SEBI communication and compliance requirements for registered intermediaries.
5. Absence of Valid Risk Profiling
The arbitrator found that Aurostar’s risk profiling document was unsigned and lacked proof of delivery to the investor.
As a result, the company allegedly gave high-risk F&O advice without properly assessing the investor’s financial profile or risk capacity.
6. Demo Trade Used as Bait and Coercive Upgrade Tactics
Aurostar allegedly used demo profits to attract the investor, then pressured him into upgrading subscriptions and paying additional “loss recovery” fees after trading losses.
According to the arbitration findings, this conduct may violate SEBI’s Code of Conduct for Investment Advisers.
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Penalty and Final Decision
On 14 January 2025, the Sole Arbitrator found the violations established and directed Aurostar to pay ₹15.57 lakh, including trading loss compensation and refund of service charges.
The award also imposed 15% annual interest from 07 August 2024 until the date of the decision.
The arbitrator further directed that if Aurostar failed to pay within 15 days, interest would escalate to 18% per annum until the full amount was realised.
Additionally, Aurostar was directed to reimburse the entire cost of the arbitration proceedings to the investor.
Aurostar Investment Advisory User Complaints
Complaints against Aurostar Investment Advisory extend beyond a single investor, with Google Reviews and Justdial showing repeated allegations similar to those raised in the arbitration case.
The firm currently holds a 1.8/5 rating on Justdial based on 239 ratings, with overwhelmingly negative feedback from users.
1. Free Trial Used as a Trap to Extract Fees
User Nilesh Darji alleged that Aurostar used a free trial and guaranteed profit promises to collect ₹56,000 through repeated payment demands.
He further claimed that the firm pushed him to add more money, blocked exits from losing trades, and eventually wiped out his demat account.
2. Pressure to Average Losing Trades Until Capital Hits Zero
User Ashu Khurana alleged that Aurostar staff, including Ashok, Niharika, and Ayushi, aggressively pressured him to keep averaging losing positions instead of exiting trades.
He claimed that repeated advice from the firm eventually reduced his entire investment capital to zero and warned other investors against associating with Aurostar.
3. Fake Advisory and Repeated Money Extraction After Losses
User Soniya Tyagi alleged that Aurostar followed a pattern of causing losses first and then demanding more money to “strengthen the profile.”
She claimed that after paying ₹25,000 and facing repeated payment demands, she suffered total losses of ₹85,000 from the firm’s advice.
4. Misleading Calls, Rude Staff, and Ignored Client Concerns
User Shivam Upadhyay alleged that Aurostar provided unclear trading advice, which led to financial losses and confusion during the engagement.
He also described the staff as rude and unprofessional and warned other investors against using the firm’s services.
5. Designed to Create Dependency Through False Targets
User Sanosh TR alleged that Aurostar used false targets and early profitable calls to make clients dependent before increasing losses over time.
He claimed that after paying ₹25,000 for a two-month package, he received no meaningful service and accused the firm of systematically causing investor losses.
While online reviews and complaints do not independently establish wrongdoing, repeated patterns in investor experiences often become an important factor for people researching whether a financial advisory service matches their expectations and risk tolerance.
This is also why many prospective clients search questions such as “is Aurostar Investment Advisory safe” before making any payment or sharing trading capital with the firm.
What Investors Must Keep in Mind?
Every investor who deals with any advisory firm must understand that prevention costs nothing while recovery costs everything.
The violations that appeared in Aurostar’s arbitration case and user reviews follow a predictable playbook that investors can recognise and reject before paying a single rupee.
- Reject free trial pressure: Firms that push payments immediately after a free trial often use psychological pressure instead of service quality.
- Avoid endless averaging: Never keep adding money to losing trades without a defined stop loss or risk limit.
- Pay only through official accounts: Avoid UPI transfers to individuals and insist on company receipts and traceable payments.
- Preserve all evidence: Save calls, chats, recordings, and payment records from day one to strengthen any future complaint or dispute.
The clearest signal that a firm intends to defraud you is the moment they use your own losses as leverage to demand more money.
Any firm that responds to your trading loss with a payment demand rather than a solution has already crossed from advisory into exploitation.
How to File a Complaint Against RIA?
Filing a complaint against Aurostar Investment Advisory follows the same structured escalation path that governs all SEBI-registered intermediaries.
The key is to move through each step quickly and with complete documentation, because each stage builds on the one before it.
Before you begin, gather every piece of evidence you hold: UPI payment receipts, WhatsApp messages, call recordings, and any written or verbal promises the firm made.
Organise everything chronologically. This documentation determines the strength of every step that follows.
Step 1: File a Formal Written Complaint with Aurostar’s Grievance Officer
Send a detailed written complaint to Aurostar’s designated grievance officer, clearly stating the nature of misconduct, the dates involved, the exact amounts paid, and the specific SEBI regulations you believe the firm violated.
Give them 21 days to respond. If they fail to respond meaningfully or dismiss your complaint, treat that response as grounds for immediate escalation.
Step 2: Escalate Complaint in SCORES
File your complaint on the SEBI SCORES platform, which compels all SEBI-registered entities, including Aurostar, to respond under SEBI’s direct monitoring and within a prescribed timeline.
SEBI assigns a tracking ID to your complaint and follows up with the firm. Many investors see a partial resolution at this stage once the firm understands that SEBI now monitors every step of their response.
Step 3: Lodge an Issue in SMART ODR
If SCORES does not produce a satisfactory resolution, escalate to SEBI’s SMART ODR platform, which offers structured conciliation between you and the registered intermediary.
Note that Aurostar’s investor in the arbitration case received an admissible claim of ₹1,47,500 at the conciliation stage itself, meaning this step produces real results even before arbitration. SEBI mandates that all registered entities participate in this process.
Step 4: Stock Market Arbitration
If conciliation fails or the firm does not comply with the conciliation outcome, file for formal arbitration with NSE, the same route that the investor, Md Tousif Uddin, successfully used against Aurostar and won ₹15,57,000 plus interest.
Arbitration produces a legally binding award. If Aurostar refuses to comply with the award, NSE can initiate recovery proceedings and enforce compliance through regulatory and legal mechanisms.
Need Help?
If you face difficulty navigating any stage of a complaint against Aurostar Investment Advisory, our team handles the entire process for you, from building your evidence file to pursuing the final arbitration award.
- We review your case and identify every SEBI regulation the firm violated, giving you a clear picture of your legal grounds before you file anything
- We build your complete documentation file, organising payments, recordings, messages, and timelines into a structured complaint record
- We draft and file formal complaint letters to Aurostar’s compliance officer, SEBI SCORES, and NSE on your behalf
- We guide you through SMART ODR conciliation proceedings and represent your position at every stage of the process
- We have experience with NSE arbitration cases, specifically against investment advisory firms, and pursue formal arbitration where necessary
- We assist you from the first complaint letter to the enforcement of the final arbitration award
You already lost money trusting the wrong firm. Do not lose your chance at recovery by navigating the process alone.
Conclusion
The evidence against Aurostar Investment Advisory includes both a signed arbitration award and multiple user reviews reporting similar patterns of assured returns and loss averaging.
Therefore, investors can file a complaint against Aurostar Investment Advisory and pursue escalation remedies with strong documentary support.
The arbitration outcome also shows the importance of acting quickly and preserving evidence.
