Quick Summary
The formal complaint path against Alpha Wealth Research runs through five stages. Internal written complaint first, then SEBI SCORES under Research Analyst registration INH000014650, then SMART ODR conciliation, then exchange arbitration if needed. Valid grounds include guaranteed return promises, personalised trade calls with specific strike prices and lot sizes, fees collected in multiple opaque tranches, refund refused for unused subscription time, and pressure to invest more after losses. Every stage is free. For claims below Rs. 10 lakh, arbitration costs you nothing.
A formal arbitration case against Alpha Wealth Research produced a Rs. 65,788 refund for one investor.
That outcome came entirely through the regulatory process. SEBI SCORES, SMART ODR conciliation, and formal arbitration.
Every stage is free to use. Every stage is open to you if your experience with Alpha Wealth Research involved any of the conduct this page describes.
This page covers the exact complaint process from your first written contact through binding arbitration, and the four specific situations that give you valid grounds to file.
Is Your Complaint Against Alpha Wealth Research Valid?
Not every difficult experience gives you regulatory standing to file. But these four situations map directly to named SEBI violations that the arbitration case confirmed against this firm specifically.
Situation 1: Guaranteed return promises or loss recovery assurances
If any representative of Alpha Wealth Research promised that following their calls would produce guaranteed profits, or that investing more money would recover previous losses, that is a direct violation of Regulation 18 of SEBI’s Research Analyst Regulations 2014.
The arbitration case found that Alpha Wealth Research representatives made exactly these assurances, presenting only profitable trade screenshots without risk disclosures and promising loss recovery if additional funds were invested.
No registered Research Analyst can make these promises.
The promise itself is the violation, regardless of whether you relied on it.
These aren’t isolated claims. Two separate reviewers describe experiencing versions of this exact pattern: low accuracy paired with pressure to keep paying.
The full accounts are covered on our Alpha Wealth Research reviews page.
Situation 2: Personalised trade instructions over private channels
If a representative sent you specific strike prices, exact lot quantities, and precise entry and exit timings through WhatsApp or Telegram, that crosses from general research into personalised investment advice.
Personalised investment advice requires a separate SEBI Investment Adviser registration. Alpha Wealth Research holds a Research Analyst registration INH000014650.
It holds no Investment Adviser registration.
The arbitration case found that delivering personalised trade instructions induced Rs. 75,809 in trading losses for one investor.
Situation 3: Fees collected in multiple tranches without clear invoices
If your fees were collected across multiple separate payments rather than in one clearly documented subscription, and if the invoices you received did not specify the service package name, its duration, or the plan details, that is a specific SEBI disclosure violation.
The arbitration case found that Alpha Wealth Research collected fees in four tranches totalling Rs. 1,10,900 with invoices that did not clearly reflect the service subscribed to or its duration.
Situation 4: Refund refused for unused subscription time
SEBI’s December 2024 amendment to Research Analyst Regulations requires registered RAs to provide pro-rata refunds on early subscription exit.
A blanket no-refund policy does not override this regulation.
If you exited a subscription early and were refused a refund for the unused period, that refusal is a specific complaint ground under the December 2024 amendment.
The refusal alone is sufficient.
How to Complaint Against Alpha Wealth Research Company?
Knowing you have grounds is one part of it. Knowing exactly how to file, in the right order, is what actually produces a result.
Here’s the complete process:
Step 1: Collect Your Evidence Before Contacting Anyone
This step happens before any contact with the firm. Evidence collected now is what your case rests on at every subsequent stage.
Save every WhatsApp and Telegram message from any Alpha Wealth Research representative. Note each message that contained specific entry prices, lot sizes, or timing instructions rather than general research commentary.
Save all payment receipts, bank transfer records, and UPI screenshots for every payment made. Calculate your total paid in the financial year and compare it against Rs. 1,51,000, SEBI’s annual fee cap.
Save every invoice you received and note specifically whether each one names the service package and its duration. If invoices are vague, note that as a gap.
Save any message where recovery of previous losses was promised. The exact words matter.
Write a one-page chronological summary of what happened with dates and amounts at each step.
Step 2: Write to Alpha Wealth Research Formally
SEBI requires investors to attempt internal resolution before escalating. A written complaint creates the paper trail SEBI asks about when you file on SCORES.
Write to Syed Haris Ali, the registered proprietor, through the firm’s official contact channel listed on their website.
State what you paid, on which dates, for which plans. State what was represented before you subscribed. State what you actually experienced. State the specific resolution you are seeking. Attach your payment records.
Give the firm 21 days to respond with a satisfactory written resolution. If no satisfactory response arrives, move to Step 3 immediately.
Step 3: File on SEBI SCORES
Select Research Analyst as the intermediary type. Enter INH000014650 as the registration number. Name Syed Haris Ali as the registered proprietor in the complaint description.
In the complaint description, name the specific violation. For guaranteed return promises, cite Regulation 18. For personalised trade instructions, state that the firm provided investment advice requiring an Investment Adviser registration it does not hold
. For opaque billing, describe the tranches and the absence of clear invoice detail. For refund refusal, cite SEBI’s December 2024 amendment.
Attach your payment records, WhatsApp evidence, and the written complaint you sent in Step 2.
Filing a SEBI SCORES complaint is completely free. Alpha Wealth Research has 21 days to respond after SEBI forwards the complaint.
Step 4: SMART ODR Conciliation
If SCORES does not produce a satisfactory outcome, SMART ODR portal is the next stage.
Do not file on SMART ODR while your SCORES complaint is still active. Filing on SMART ODR automatically disposes of the SCORES complaint. Confirm SCORES has concluded before moving here.
An independent conciliator is assigned. Both you and Alpha Wealth Research must participate. The formal arbitration case against this firm first went through conciliation at this stage.
Alpha Wealth Research offered a 30% settlement during conciliation. That offer was rejected, and the case proceeded to arbitration, where the investor recovered 70%.
Most cases with clear SEBI violation grounds and strong documentation settle at this stage.
Step 5: Exchange Arbitration
If SMART ODR conciliation fails, share market arbitration produces a binding award enforceable as a civil court decree under the Arbitration and Conciliation Act, 1996.
For claims below Rs. 10 lakh, the exchange bears the arbitration cost. You pay nothing.
The arbitration case against Alpha Wealth Research produced Rs. 65,788 in recovery. The investor recovered 70% of advisory fees after the arbitrator found four specific violations.
Trading losses were not awarded because those are attributed to market risk rather than direct firm liability.
That outcome is what complete documentation and correct escalation produce. Documentation is the difference.
For the full narrative of how that recovery case was built, what the conciliation stage looked like, and what the arbitrator’s reasoning was, our loss recovery from Alpha Wealth Research page covers that in complete detail.
Unsure whether your documentation is strong enough?
We will review your case, identify every applicable SEBI violation, draft the SCORES complaint, and represent you through SMART ODR and arbitration.
Conclusion
Alpha Wealth Research holds SEBI registration INH000014650.
That registration gives you access to a formal complaint mechanism that has already produced Rs. 65,788 in recovery for one investor.
Guaranteed return promises, personalised trade calls beyond Research Analyst scope, opaque billing across multiple tranches, and refunds refused against SEBI’s mandatory rule are all named violations with a clear complaint path behind them.
Collect your evidence. Write formally. Follow the sequence.
Every stage completed correctly makes the next one stronger.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Select Research Analyst as the intermediary type on SEBI SCORES and enter INH000014650. Name Syed Haris Ali as the registered proprietor in the complaint description. This ensures the complaint reaches the correct regulatory contact without delay.
No. A Research Analyst registration INH000014650 permits general research recommendations shared to all subscribers simultaneously. Sending specific strike prices, exact lot quantities, and precise timing instructions to individual clients privately requires a separate SEBI Investment Adviser registration. Alpha Wealth Research does not hold one.
Give 21 days from the date of your written complaint. If no satisfactory response arrives, file immediately on SEBI SCORES under INH000014650. Non-response to a formal internal complaint is itself grounds for escalation and strengthens your SCORES filing considerably.
Trading losses are generally not awarded in arbitration because they are attributed to market risk and the investor's own trading decisions. What the formal process can recover is advisory fees collected under documented violations. The Alpha Wealth Research arbitration case recovered 70% of advisory fees but not the Rs. 75,809 in trading losses.
SEBI complaints have a three-year limitation period from the date the issue occurred. If your experience happened within the last three years, you are within the window. Do not wait as WhatsApp records and bank statements are not preserved indefinitely.
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