Quick Summary
Financial Sarthis is run by Lalit Mundhra, a Chartered Accountant registered with SEBI as an Individual Research Analyst under number INH000017091, effective June 28, 2024, from Kolkata. The firm’s own complaint disclosures do not fully reconcile with each other, its pricing is shown only on an external redirect rather than its own website, and its FAQ answers are technically present but not visible to a regular site visitor. Testimonials on its homepage cite specific profit figures that sit directly against its own disclaimer’s promise of no guaranteed returns. This guide covers the registration, the pricing, the complaint data, and every flag found while reviewing the firm’s own website in detail.
Lalit Mundhra, the proprietor behind Financial Sarthis, holds a genuine SEBI registration, and that fact alone tells you very little about how the practice actually operates day-to-day.
This review goes further than a registration check. It looks at what the firm’s own website shows, page by page, and where that content does and does not match what SEBI expects from a registered Research Analyst.
Several of these findings come directly from the firm’s own site, not from outside allegations, which is exactly why they are worth reading in full before you consider subscribing.
Is Lalit Mundhra’s Financial Sarthis SEBI Registered?
Yes. Lalit Mundhra operates Financial Sarthis as its Proprietor, registered with SEBI as an Individual Research Analyst under registration number INH000017091, effective from June 28, 2024, and also holds BSE Enlistment Number 6253.
Per SEBI’s own intermediary record, the registration is listed as valid on a perpetual basis from that effective date, with no fixed expiry.
His research covers Futures Trading, Stock Options, Index Options, Equity Intraday, and Equity Positional recommendations, which places the practice within a fairly broad range of SEBI-permitted research categories.
One detail worth flagging early: the social media links listed on the website redirect to WIX, a website builder platform completely unrelated to Financial Sarthis or its stated social presence, rather than to any actual social media profile.
Does Financial Sarthis Show Its Pricing Upfront?
SEBI’s rules for Research Analysts require pricing and product descriptions to appear on the RA’s own website, not only through an external link.
Pricing is not mentioned anywhere on the main Financial Sarthis website itself.
Clicking either of its two subscription plans redirects the visitor to a separate external site, where the actual pricing is shown.
The associated regulatory expectation also covers how payment is collected: fees are meant to go into the RA’s official bank account, not through a third-party application, which is a separate point worth keeping in mind when reviewing where and how any payment link asks you to pay.
Once you follow the redirect, the actual pricing shows as follows.
| Plan | Monthly | Quarterly | Half Yearly | 9 Months | Yearly |
|---|---|---|---|---|---|
| Premium FNO, Index & Stocks | ₹3,493 | ₹10,780 | ₹20,390 (5.4% off) | ₹28,850 (8.2% off) | N/A |
| Technofunda & Swing | N/A | N/A | N/A | N/A | ₹45,000 |
None of this pricing is visible on financialsarthis’s own domain.
A prospective subscriber has to leave the RA’s registered website entirely to find out what they would actually be paying, which runs against the transparency SEBI’s disclosure rules are meant to guarantee.
Do Financial Sarthis Testimonials Match Its Own Disclaimer?
Two testimonials are prominently displayed on the Financial Sarthis homepage, and both reference specific profit figures.
A testimonial attributed to “Saquib Ali” states: “Superb experience with FS FNO services! Profits grew from 3L to 15L+ with their expert support and guidance. Highly recommend for serious traders!”
A second testimonial attributed to “Vishal” states: “Fantastic week with FS! Impeccable trades and excellent trailing strategies. Averaging 2-3K per trade with fewer, high-quality setups.”
This sits directly against the firm’s own Disclaimer page, which states that “Financial Sarthis or any of its executives do not guarantee any pre-specified profits” and that “there is no guarantee of profits and no exception from losses.”
The Services page compounds this. Its own “How It Works” section lists “Track Profits, Review performance and stay updated daily” as a formal step in the client journey, again framing the service around profit tracking even while the disclaimer explicitly disclaims any promise of profit.
These are the firm’s own published statements, displayed side by side on its own site, and the contradiction between the promotional framing and the disclaimer’s own language is worth reading for yourself before relying on either.
Also Read: Chandel Street Capital with “Consistently Profitable” Testimonials Sit Close to SEBI’s Line.
Does Financial Sarthis Compliance Documents Section Hold Up?
The “Compliance & Regulatory Disclosures” section on the homepage sits alongside links to download the Standard Disclosures, Redressal of Grievances Policy, Escalation Matrix, and SCORES Compliance Sheet, all as separate PDF files rather than readable content on the page itself.
Directly beside these compliance document links, the section contains an unedited line of leftover AI drafting text: “Let me know which tone you prefer, formal, friendly, or client-focused, and I can tailor it further.”
This sentence has no business being visible on a live compliance page.
It reads as an instruction left over from whatever tool was used to draft the section, never removed before publishing, sitting in the exact part of the site meant to represent the firm’s regulatory seriousness.
Also Read: Gokul Chhabra Trading, incorporated as a private limited company on January 19, 2024.
Why Are Financial Sarthis’ FAQ Answers Hidden?
The homepage FAQ section lists four questions: “What services do you provide?”, “Are your trading calls suitable for beginners?”, “How many trades do you provide daily?”, and “How can I join your services?”
Only the first question has a visible answer displayed under it on the page as a normal visitor would see it.
The remaining three questions, including the two most relevant to someone deciding whether to sign up (suitability for beginners and daily call volume), show no visible answer text at all.
The answer content only becomes visible through a browser’s find-on-page search function, meaning it technically exists in the page’s code but is not something a visitor scrolling the page would ever actually read.
How Much Does Financial Sarthis Rely on Telegram?
A dedicated page on the Financial Sarthis website exists specifically to push visitors toward its Telegram channel, which has roughly 5,960 subscribers as of this review.
Actual buy and sell calls are delivered inside this channel, alongside a constant push toward a paid “premium group,” accompanied by shared profit screenshots intended to demonstrate the group’s track record.
The channel does state that stock market trading carries real risk, but the reviews shared inside it lean heavily toward generic praise: phrases like “excellent success ratio,” “best advisor,” and “fees recovered third time” recur, reading more like curated marketing copy than a representative sample of client experience.
One additional technical flag: attempting to screenshot content inside the channel causes the screen to go blank, which prevents a visitor from easily capturing or verifying what has been shown to them.
Financial Sarthis Complaints: Does the Data Add Up?
This is the most significant finding in this entire review, and it deserves to be read carefully.
The Monthly Complaint Status and Resolution Summary for July 2026 reports zero complaints received, resolved, or pending across every source, including complaints from investors directly and through SEBI SCORES.
However, a separate disclosure, the Trend of Unique Client Complaints, shows 2 unique client complaints in FY 2024-25, both received and resolved that same year.
| Year | Complaints Received | Resolved | Pending |
|---|---|---|---|
| FY 2023-24 | 0 | 0 | 0 |
| FY 2024-25 | 2 | 2 | 0 |
| FY 2025-26 | 0 | 0 | 0 |
| Grand Total | 2 | 2 | 0 |
The Trend of Monthly Disposal of Complaints also reports zero complaints for April, May, and June 2026, but nothing in the site’s disclosures explains how those two FY 2024-25 complaints relate to the monthly figures shown elsewhere.
SEBI expects a registered RA’s monthly, monthly-trend, annual-trend, and unique-client-complaint disclosures to be consistent and reconcilable with one another.
Here, they are not. The current month shows a clean zero across the board, while a separate table on the same site confirms two real, resolved complaints exist in the firm’s own recent history, with no visible explanation connecting the two.
For an investor trying to assess this firm’s actual grievance history, that gap makes the disclosure incomplete at best, and potentially misleading about how clean the current picture really is.
Also Read: Manikanth Devarakonda has Three Complaint Tables, Three Different Totals.
How to File a Complaint Against Financial Sarthis?
If your experience with Financial Sarthis did not match its own disclaimer, or a specific promise made to you before payment, document everything first: screenshots, payment receipts, and any Telegram or WhatsApp messages you can still access.
Every Research Analyst dispute follows the same regulated escalation path, and understanding the general complaint against SEBI registered research analyst process is a useful starting point regardless of which firm you are dealing with.
Begin with a written complaint to the firm directly, stating your concern clearly and keeping a copy of what you sent.
If that does not resolve things, the SEBI SCORES portal is where you file formally, citing registration number INH000017091 and attaching your documentation.
Should SCORES not bring resolution, escalate further using the SMART ODR login for structured online conciliation.
This stage typically moves faster than formal proceedings, since it focuses on reaching a resolution both sides agree to rather than a contested hearing.
Where conciliation does not resolve the dispute, formal stock market arbitration remains the final step available to you.
Not sure whether Financial Sarthis’ pricing, testimonials, or complaint disclosures add up in your case?
We review the firm’s public disclosures against your own experience and help you build a complaint SEBI will actually act on. Register with us for a free consultation.
Conclusion
Lalit Mundhra holds a genuine SEBI registration for Financial Sarthis under INH000017091, and the practice is legally permitted to offer research across futures, options, and equity segments.
At the same time, this review found pricing hidden behind an external redirect, testimonials that sit against the firm’s own disclaimer, a compliance section with visibly unedited AI drafting text, FAQ answers that are not actually visible to visitors, and complaint disclosures that do not reconcile with each other.
None of these findings individually proves wrongdoing, but taken together, they are exactly the kind of detail worth checking yourself before you subscribe, not after.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes, registration number INH000017091 is valid and active. Genuine registration does not on its own confirm that every part of the firm's website and disclosures are consistent, which this review covers in detail.
Clicking either subscription plan redirects visitors to a separate external site where pricing is shown. SEBI's rules expect pricing and product details to appear on the RA's own registered website directly.
No. Its July 2026 monthly disclosure shows zero complaints, while a separate annual trend table shows 2 complaints received and resolved in FY 2024-25, with no explanation connecting the two figures.
Only the first of four listed FAQ questions has a visible answer. The remaining three exist in the page's code but are not shown to a visitor browsing the page normally.
Add us as a preferred source on Google »
