Quick Summary
BlackAce Research holds an active SEBI Research Analyst registration, number INH000015251, held individually by Ankush Paul, valid on a perpetual basis since February 29, 2024, alongside a separate BSE Enlistment Number (6068). No public adjudication order or suspension appears against the firm or Ankush Paul as of this review. Registration confirms the firm is legally allowed to publish research. It does not confirm every claim on its marketing holds up, or that every representative acting on its behalf stays within what the licence permits.
You’ve come across BlackAce Research somewhere, a call, a Telegram forward, maybe a friend mentioning the name.
Before anything else, you want to know one thing: is this a real, licensed firm, or just a name with a confident-sounding pitch attached to it?
BlackAce Research is a Bengaluru-based stock market research firm, offering daily and monthly calls across equity cash, F&O, index options, and commodities, run by Ankush Paul as proprietor.
That’s the pitch on paper.
Whether it’s actually registered the way it claims is a separate, checkable question, and it’s the one this page answers directly.
The short answer is yes. The longer, more useful answer covers exactly what that registration confirms, how to verify it yourself in two minutes, and where its coverage genuinely stops, all of which matters more than the one-word answer alone.
Is BlackAce Research SEBI Registered or Not?
Yes, it is. BlackAce Research holds a single active SEBI registration in the Research Analyst category, held by Ankush Paul as an individual.
That registration carries the number INH000015251, along with a BSE Enlistment Number, 6068, a separate exchange-level enlistment every Research Analyst needs on top of its SEBI registration.
It shows perpetual validity, dated from February 29, 2024. We found no public adjudication order or suspension against BlackAce Research or Ankush Paul as of July 2026.
Worth reading that carefully, though. A clean order history isn’t the same as a clean complaint history.
How Can You Verify BlackAce Research’s SEBI Status Yourself?
Checking this yourself takes about two minutes, and it’s worth doing directly rather than trusting any secondhand summary, including this one.
Head to SEBI’s official website and open the Intermediaries tab. From there, select Registered Intermediaries, then pick Research Analyst from the category dropdown.
Search either by the firm’s name or by entering INH000015251 directly. What comes back should show the registered entity, the registration date, and the current status.
A quick SEBI registration status check like this takes less time than it does to read this entire section.
Compare that against what BlackAce Research shows on its own site: the name, the number, the address. If any of it is off, treat that mismatch as reason enough to stop and think twice before paying anything.
This same two-minute process works for verifying any SEBI-registered Research Analyst, not just this one.
Worth checking too: is Love Sharma SEBI registered?
What Does SEBI Allow BlackAce Research to Do Under RA Regulations?
A licence works both ways. It defines what a firm can offer, and just as usefully, where that offer is supposed to stop.
Under the SEBI (Research Analysts) Regulations, 2014, BlackAce Research can:
- Publish research reports and calls. Buy, sell, or hold recommendations across cash, F&O, index, and commodity segments, sent the same way to every subscriber.
- Charge a fixed, disclosed fee. A subscription fee, fixed upfront and disclosed in writing, capped at ₹1.51 lakh a year per family.
- Base calls on documented research. Every recommendation needs a real, documented basis behind it, not a guess dressed up as a call.
- Maintain records of what it publishes. It’s required to keep records of the research it issues, so there’s a paper trail of what was actually recommended and when.
None of this makes BlackAce Research your personal advisor, even if a call lands with your name on it. A Research Analyst can only share a view on a stock or an index, not what’s actually right for your individual situation.
That distinction is easy to forget the moment a confident-sounding call shows up in your inbox, and it’s exactly the gap that some documented reviewer accounts describe crossing, covered in detail on our BlackAce Research reviews page.
Verified the registration and still unsure whether something you were told crosses a line?
Tell us what you were promised, and we’ll help you check it against exactly what this registration permits.
Something Doesn’t Match? Here’s What to Do Next
Maybe the registration you checked didn’t match. Maybe it matched exactly, and your own experience still didn’t feel right regardless.
Either way, that’s the point where a complaint becomes worth filing.
Start with SEBI SCORES, and file it under Research Analyst, not Investment Adviser, a mix-up that trips up a lot of first-time complaints simply because “Investment Adviser” is the more familiar term.
Use INH000015251 as your reference number, and enter BlackAce Research’s registered name exactly as SEBI’s database shows it.
Get that category wrong, and your complaint can sit unread in the wrong queue for weeks before anyone actually looks at it.
We’ve mapped out the complete process, from a direct complaint to the firm through to arbitration, in our guide on how to complain against BlackAce Research.
Conclusion
BlackAce Research holds one genuine, active SEBI registration, Research Analyst, number INH000015251, under Ankush Paul, checkable directly on SEBI’s own site in under two minutes.
That licence covers research publishing at a fixed, disclosed fee, backed by documented analysis. It does not cover guaranteed returns, profit-sharing fees, directed trades, or unverified marketing claims.
A valid registration confirms the firm is legally allowed to operate; it doesn’t confirm every claim made in its name stays inside what the rules require.
If your own experience says otherwise, the SCORES portal, filed under the right category, is where that gets addressed.
Report. Recover. Stay Fraud Free.
No. Its Code of Conduct requires honesty and good faith, and SEBI has fined research analysts for assured-return promises before, even when a sales representative made the promise rather than the registered analyst personally. No. A Research Analyst licence only covers publishing research. Managing or directing trades needs a separate portfolio management registration, which BlackAce Research doesn't hold. No public order or penalty appears against BlackAce Research or Ankush Paul as of July 2026. That reflects the absence of concluded formal action, not the absence of complaints.Frequently Asked Questions
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