If you are looking for how to file a complaint against Stockifi, something specific has already gone wrong.
You paid for a research service, you followed recommendations, and the outcome does not match what you were led to expect before paying.
This page gives you the complete process from the first step to the last, along with six specific situations where you have clear grounds to file formally.
Stockifi holds SEBI Research Analyst registration INH000008376, which means you have access to India’s full regulatory compliant infrastructure, and you do not need a lawyer to use it.
Let’s start with where you stand right now and work through exactly what comes next.
How to File a Complaint Against Stockifi Online?
Because Stockifi operates under an active SEBI research analyst license, they are legally bound to maintain absolute truth in advertising and clear grievance timelines.
If you feel their non-compliant marketing, delayed app alerts, or broken support channels caused you financial harm, use this official step-by-step framework to launch an investigation.
Step 1: Collect Everything Before You Contact Anyone
This step matters more than any other. The biggest reason investor complaints fail is not a lack of merit.
There is a lack of documentation when the complaint is filed.
Before writing to Stockifi, before calling them, before telling them you are unhappy, spend one hour collecting every piece of evidence you have.
Screenshot all Telegram messages and WhatsApp communications with timestamps visible. Go back to the beginning of every chat thread.
Do not delete anything.
Save your payment receipt and the subscription confirmation email or document that shows what you paid for and when.
Download your trading account statement covering the period during which you were subscribed to Stockifi, showing every trade you made based on their recommendations, the entry prices, exit prices, and the profit or loss on each.
Screenshot any marketing material, landing page content, or social media post that influenced your decision to subscribe.
If Abhijit Chokshi made a specific claim in a YouTube video that you relied on, note the video URL and the timestamp of the claim.
Write down the name, date, and exact content of any verbal promises made on a call. The more specific this record is, the more useful it becomes later.
Do all of this before Step 2. Once you raise a dispute, communication patterns change, and documents become harder to collect.
Step 2: Contact Stockifi Directly
Before escalating the matter to SEBI or any other forum, your first formal step should be to contact Stockifi directly and create a written record of your complaint.
Stockifi Email ID
An email, not a phone call or a WhatsApp message, should be your primary channel of communication, because the reply, or the absence of one, becomes evidence.
Address the email to Kinnar Shah by name as the designated Compliance Officer for Stockifi at [email protected].
In the email, describe what you subscribed to, what you paid, what was promised before you subscribed, what was actually delivered, what the financial outcome was, and what resolution you are seeking.
Keep the email factual and specific. One or two paragraphs are enough.
The goal is to show that you attempted to resolve the issue directly before escalating it to the regulator.
Stockifi Contact Number
Phone calls can help clarify the firm’s position, but they should not replace written communication.
If you discuss the matter over the phone, follow up by email and ask for any assurances or explanations to be confirmed in writing.
Give the firm 30 days to respond formally. A phone call asking you to wait does not count as an official written response.
If you receive only verbal communication, ask for the firm’s position to be shared by email.
Step 3: File on SEBI SCORES
If Stockifi does not respond within 30 days, or if the response does not actually resolve the issue, file a complaint through SEBI SCORES at scores.gov.in.
The filing details for Stockifi are specific and should be entered accurately.
- Select Research Analyst as the intermediary type.
- Enter Stockifi as the firm name.
- Enter INH000008376 as the registration number.
- In the complaint description, identify Abhijit Chokshi as the registered proprietor responsible for the firm’s compliance and mention Kinnar Shah as the Compliance Officer you previously contacted.
- Describe the sequence of events chronologically: what you paid for, when you paid, what was promised, what was delivered, and the financial impact.
- Identify the SEBI regulation that you believe was violated in your case.
Attach your evidence in clearly labelled files.
- Payment receipts.
- The subscription agreement, if available.
- Screenshots of relevant communications.
- Trading statements and any other supporting documents.
A complaint supported by complete and organised evidence generally moves faster than one that consists only of allegations.
SEBI SCORES creates a formal regulatory record, and Stockifi is required to respond within the prescribed period.
If the response is unsatisfactory, the next stage of the grievance process remains available.
Step 4: Escalate to SMART ODR
If SCORES does not produce a resolution that actually addresses what went wrong, escalate to SEBI’s SMART ODR complaint platform.
SMART ODR is SEBI’s Online Dispute Resolution mechanism. It is free, fully online, and does not require you to travel anywhere or appear in person.
An independent conciliator facilitates a structured exchange between you and the firm within defined timelines, and the outcome can be binding if both parties agree to it or if the matter moves to a formal resolution.
Many investors who received inadequate responses through SCORES have found meaningful resolution through SMART ODR. It is a real escalation with documented outcomes, not just a formality.
Step 5: Stock Exchange Arbitration
If SMART ODR does not resolve the matter, binding arbitration is the final step, and it produces a legally binding decision.
An independent arbitrator appointed by the exchange reviews the evidence from both sides and issues an award. Stockifi is legally required to comply with the award.
For claims below Rs. 10 lakh, there is no investor filing fee for exchange arbitration. For larger claims, a slab-based fee applies.
Arbitration works best when the evidence is complete and the violations are clearly identified.
A complaint with documented proof of a guaranteed return promise, a trading statement showing losses from recommendations that had no stop-loss guidance, and an unanswered refund request gives the arbitrator a clear factual record to work with.
File within 3 years of the incident.
Acting early preserves your evidence and makes the sequence of events easier to establish.
When Does Your Situation Qualify as a Formal Complaint?
Not every loss suffered after following stock research amounts to a regulatory complaint.
Markets move unpredictably, and even well-researched recommendations can fail.
But there are certain situations in which the issue may extend beyond investment performance and raise questions under SEBI’s Research Analyst Regulations.
- Guaranteed returns or recovery promises. If any representative of Stockifi, or any communication from the firm, promised guaranteed profits, assured returns, or the recovery of previous losses through future recommendations, that may form the basis of a complaint.
SEBI Regulation 16(b) prohibits such assurances. - Recommendations delivered as live trading instructions. A registered research analyst is authorised to provide research, not real-time execution calls.
If recommendations were delivered during market hours as instructions to buy or sell immediately, rather than as research reports containing analysis, entry ranges, targets, and stop-loss levels, that distinction would become important. - No written agreement before payment. Subscription fees should be collected only after the scope of the service, its duration, and the applicable refund terms have been documented in writing.
If you paid without receiving such an agreement, you may wish to preserve records of the transaction. - Additional fees beyond the original agreement. Any increase in charges that was not disclosed upfront and confirmed in writing raises questions about fee transparency.
- Concerns relating to the referral programme. If you were encouraged to participate in Stockifi’s referral scheme without a clear explanation of how the commission structure worked, you may want to review the arrangement more closely.
We discuss the referral programme and the compliance questions it raises in our guide on Stockifi Subscription charges. - A gap between what was sold and what was delivered. If the service was marketed as a research-based subscription but, in practice, consisted only of Telegram messages or push notifications without the promised analysis, that difference may be relevant when assessing your experience.
The key question is not whether a particular stock moved up or down. It is whether the service you received matched the service that was described to you before you subscribed.
How to Build a Strong Evidence File Against Stockifi?
The success of a complaint often depends less on the amount you lost and more on the quality of the evidence you can provide.
For investors dealing with Stockifi, the following categories of documents are especially important.
- Save screenshots of WhatsApp messages, Telegram posts, emails, or call recordings that influenced your decision to subscribe or shaped your expectations about the service.
- Preserve your trading statements, including the entry prices, stop-loss levels communicated to you, and the eventual outcome of the positions taken based on Stockifi’s recommendations.
- Keep copies of any marketing material, presentations, or social media posts that persuaded you to purchase the subscription.
- Retain your payment receipts, subscription confirmation, and any written description of the plan you purchased, as these documents help establish what you were told to expect.
Already gathered your documents but unsure whether they are enough to support a complaint?
Our team can help you review the evidence and understand the options available to you.
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