Intensify Research (SEBI Registration INH000009834) has recorded 75 investor complaints since 2022, a number that has grown every single year. One investor lost ₹3.5 lakh after fees escalated from ₹6,000 to ₹1,50,000 within months.
Another lost ₹10 lakh in ten days after being directed to transfer money into an account that was not the firm’s official account.
If you’ve already paid Intensify Research and something has gone wrong, the complaint process has clear steps, and you don’t have to figure them out alone.
What Is Intensify Research?
Intensify Research Services Private Limited is a SEBI-registered Research Analyst firm based in Jodhpur, Rajasthan.
The firm has been registered since 2022 under registration number INH000009834, and is also enlisted with BSE under enlistment number 5584. The contact person listed on SEBI’s intermediary register is Shoeb Pathan.
The firm markets itself to retail equity and F&O traders through phone-based advisors, WhatsApp groups, and paid membership packages across three service categories.
Their current subscription pricing:
| Service | Pack Size | Fee |
|---|---|---|
| Daily Opulent | 50 calls | ₹29,500 |
| Daily Opulent | 100 calls | ₹53,100 |
| Optimum Options | 50 calls | ₹23,600 |
| Optimum Options | 100 calls | ₹42,480 |
| Index Options | 30 calls | ₹29,500 |
| Index Options | 50 calls | ₹53,100 |
User complaints on record; however, describe fees escalating far beyond these listed prices. One investor reports being charged ₹6,000 initially, then ₹30,000, then ₹50,000, then ₹1,50,000, all within a few months of joining.
When you see a fee structure on a website, know that it may not reflect what you are actually charged once you are inside the sales funnel.
For details on who runs the firm and why his individual registration status matters for complaints, read: Intensify Research owner name
Is Intensify Research Registered with SEBI?
Yes and no; that is not the end of the question.
Intensify Research Private Limited holds a valid SEBI Research Analyst registration (INH000009834). This means the firm has cleared SEBI’s eligibility requirements to provide research-based buy, sell, and hold recommendations.
What SEBI registration does not mean:
- It does not guarantee the accuracy of recommendations
- It does not permit guaranteed return promises of any kind
- It does not allow profit-sharing fee arrangements
- It does not permit representatives to ask you to deposit money into personal or unregistered accounts
- It does not cover you if the firm violates SEBI’s code of conduct, but it does give you a formal complaint mechanism when it does
The registration also does not mean Shoeb Pathan is individually registered as a SEBI Research Analyst. The licence belongs to the company entity.
This distinction matters when you are trying to hold a specific individual accountable in a complaint proceeding.
For the full breakdown of what registration covers, what it doesn’t, and how to verify the firm’s status yourself on SEBI’s portal, check full details on Is Intensify Research SEBI registered
Intensify Research Complaint Data: The Full Trend
SEBI requires Intensify Research to publicly disclose its annual complaint data. Here is the complete picture:
| Year | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| 2022-23 | Nil | 4 | 2 | 2 |
| 2023-24 | 2 | 19 | 20 | 1 |
| 2024-25 | 1 | 23 | 20 | 4 |
| 2025-26 | 4 | 29 | 31 | 2 |
| Grand Total | 4 | 75 | 73 | 4 |
What this trend actually tells you:
Complaints have increased every single year without exception, from 4 in the firm’s first year to 29 in 2025-26. That is a 7x increase in complaint volume over four years for a firm that has presumably been growing its subscriber base over the same period.
Four complaints are currently pending and unresolved.
The firm has resolved 73 of 75 total complaints, a 97% resolution rate on paper. But resolution in SEBI complaint data means the firm closed the complaint, not necessarily that the investor recovered their money.
Many investors who have formally complained tell us the “resolution” consisted of a standard response with no refund or accountability.
The complaint data does not disclose what each complaint was about. But the user reviews tell that story clearly.
What Users Are Saying: The Pattern That Matters
Five specific complaint patterns have been documented across multiple user reviews.
What is significant is not any single review; it is that the same patterns repeat independently across different users, different platforms, and different time periods.
1. Guaranteed loss recovery promises that are never honoured. One investor was assured by a representative named Gurpreet that any losses would be covered the following day. After losses hit, his calls went unanswered for over a month.
2. Fee escalation beyond what was quoted Amit Meena’s case: entered with a ₹6,000 fee. Within months, he was being charged ₹30,000, then ₹50,000, then ₹1,50,000. The firm then asked for a 50-50 profit share of his remaining funds. He lost ₹3.5 lakh total.
3. Profit-first, subscription-later baiting Boopathy’s account: the first two trading sessions showed profits. He subscribed. The next two weeks generated a ₹90,000 loss. He specifically warns investors not to attribute negative reviews to “competitor sabotage”, he watched his own money disappear after the same pattern.
4. Money directed to unofficial accounts: One investor was instructed to transfer funds into an account that was not Intensify Research’s official corporate account. He lost ₹10 lakh in ten days. Directing payments into personal or unofficial accounts is a serious SEBI violation and a documented complaint trigger.
5. Communication blackout after losses: Across multiple reviews, representatives stop responding once losses materialise. Investors are left with documented losses, no refund, and no accountability.
For the full breakdown of all named user reviews with specific rupee amounts and case details, check: Intensify Research reviews
If you recognise any of these patterns in your own experience, you likely have grounds for a formal complaint.
Our team reviews your case, identifies the specific SEBI violations that apply, and files your complaint with the right documentation.
Recovery is possible, we have helped investors recover fees from registered RAs who used similar tactics. Register for a free consultation →
What SEBI Rules Actually Prohibit: Applied to Intensify Research
Every pattern documented above maps directly to a specific SEBI violation. This is not subjective; these are the regulatory boundaries that registered research analysts are legally required to respect:
Guaranteed return promises: SEBI RA Regulation 15(9): No registered research analyst can promise profits or assure loss recovery under any circumstances. The moment any representative says “your losses will be covered,” that is a documentable violation.
Profit-sharing fee arrangements: SEBI RA Regulations: Research analyst fees must be fixed and pre-disclosed. Demanding a share of profits, whether framed as “performance-linked” or anything else, is explicitly prohibited.
Directing payments to unofficial accounts: SEBI compliance requirements: All payments must go through the firm’s officially registered banking channels. Requests to pay into personal accounts, third-party accounts, or any account not listed in the firm’s SEBI registration documents are a serious red flag and a documented violation basis.
Handholding and execution instructions: RA scope boundary. An RA can only provide research-backed recommendations. Telling a client “hold your position,” “don’t exit now,” or “buy maximum quantity now”, as reported across multiple reviews, crosses into execution territory that requires a separate SEBI registration.
Intensify Research Services: What They Sell vs. What SEBI Permits
Intensify Research offers three categories of services across equity, derivatives, and index trading:
- Technical-Based Services include Daily Opulent (intraday calls), Optimum Options (options trading), and Index Option (Nifty/Bank Nifty-based strategies).
- Technical-Fundamental Services include The Bunny Midcap, The Turtle Trade, and an Option Strategy package, covering mid-cap stocks and positional trading for moderate-risk investors.
- Full Research Analytical Services include Mega Derivative, Index Option Power, and Intensify Strategies, positioned as premium offerings for aggressive derivative traders.
Each of these is permitted under the firm’s SEBI RA registration, as long as delivery is in the form of formal research reports, not live execution calls over WhatsApp.
The critical question to ask before subscribing: will you receive a formal, documented research report with your recommendations, or a WhatsApp message saying “buy NOW”? If the answer is the latter, the delivery method violates the firm’s RA scope regardless of the service name.
How to File a Complaint Against Intensify Research
If something has gone wrong, the evidence you preserve in the next 48 hours will determine the strength of your complaint. Start there.
For the complete step-by-step complaint process, from gathering evidence to SEBI SCORES filing, SMART ODR complaint filing process, and arbitration, with Intensify Research-specific filing details, here is the complete escalation guide on How to complaint against Intensify Research
The key regulatory reference for your complaint: SEBI Research Analyst Registration INH000009834, firm name Intensify Research Services Private Limited, contact person Shoeb Pathan. Use these details exactly when filing on SCORES.
Conclusion
Intensify Research holds a valid SEBI registration, BSE enlistment, and a publicly disclosed complaint record that shows 75 complaints over four years, a number that has grown every year since the firm launched in 2022. Four complaints are currently pending and unresolved.
The user review record documents specific, named cases involving guaranteed return promises, fee escalation from ₹6,000 to ₹1,50,000, profit-sharing demands, payments directed to unofficial accounts, and communication blackouts after losses.
Each of these is a documentable SEBI violation, not just a bad customer experience.
If your experience matches any of these patterns, you have grounds for a formal complaint, and the complaint process, used correctly with proper documentation, can result in real recovery.
Frequently Asked Questions
1. Is Intensify Research SEBI registered?
Yes. Intensify Research Services Private Limited holds SEBI Research Analyst registration INH000009834, granted in 2022, and is also BSE-enlisted under number 5584. Registration confirms regulatory authorisation to provide research services; it does not validate the firm’s conduct or guarantee service quality.
2. How many complaints has Intensify Research received?
SEBI-mandated complaint disclosures show 75 total complaints between 2022 and 2025-26, with complaints growing from 4 in the first year to 29 in the most recent year. Four complaints are currently pending and unresolved.
3. Who owns Intensify Research?
Shoeb Pathan is listed as the contact person and owner of Intensify Research Services Private Limited on SEBI’s intermediary register. He is not individually registered as a SEBI Research Analyst, the licence belongs to the firm entity. This distinction affects how accountability is established in a formal complaint.
4. Can Intensify Research legally promise guaranteed returns?
No. SEBI Research Analyst Regulation 15(9) explicitly prohibits guaranteed or assured return promises. Any representative who assures you that “losses will be covered” or that “returns are guaranteed” is in direct violation of SEBI rules, regardless of whether it was verbal or written.
5. Can Intensify Research legally ask for profit sharing?
No. Research analyst fees must be fixed and pre-disclosed. Profit-sharing arrangements, regardless of how they are framed, are prohibited under SEBI’s Research Analyst Regulations. If a profit-sharing demand was made, it is a specific violation basis for your complaint.
6. What should I do if Intensify Research directed me to pay into a personal account?
Stop any further payments immediately. Preserve all payment records, including bank transaction screenshots, account details you were given, and any messages directing you to that account. This is a serious compliance violation and one of the strongest bases for a SCORES complaint. File at scores.gov.in, selecting “Research Analyst” and registration number INH000009834.
7. I signed a subscription agreement with Intensify Research. Can I still complain?
Yes. A subscription agreement cannot override SEBI’s regulatory obligations. If the firm violated RA regulations through guaranteed return promises, profit-sharing demands, fee escalation beyond disclosed amounts, or directing payments to unofficial accounts, the agreement’s no-refund clause does not protect them. Regulatory violations are actionable regardless of what a private contract says.
Add us as a preferred source on Google »
