Is Whitestone Capital SEBI Registered? Check INH000020794 Details

Is Whitestone Capital SEBI registered is a fair first question to ask before paying for any research subscription, and the direct answer is yes.

Registration number INH000020794 is active and traceable on SEBI’s public database in under two minutes.

But a registration number confirms eligibility, not quality.

What matters more is understanding exactly what that registration permits Whitestone Capital to do, and what it prohibits regardless of how confident the sales pitch sounds.

This page covers both.

Is Whitestone Capital SEBI Registered or Not?

Yes. Whitestone Capital holds an active SEBI Research Analyst registration under number INH000020794, held by proprietor Aditya Subhash Patil, valid since June 11, 2025 on a perpetual basis.

To confirm this yourself, go to SEBI’s official website, open the Intermediaries section, and select Registered Intermediaries.

Choose Research Analyst as the category, enter INH000020794, and search.

The result should show Aditya Subhash Patil as the registered proprietor with an Active status.

If their SEBI registration status shows Suspended or Cancelled instead, do not make any payment until you have clarified the discrepancy directly with the firm.

The firm also publishes an Investor Charter on its website, a SEBI mandated document that outlines investor rights, the firm’s responsibilities, and its grievance mechanism.

Its public presence being consistent across SEBI’s own register and the firm’s website is a reasonable positive signal, though it is not a substitute for checking SEBI’s page directly.

A Research Analyst registration is a specific, narrow licence. It permits a defined set of activities and prohibits an equally specific set of practices.

Both lists matter, and most investors only ever hear about the first one.

For the firm’s service list, its owner’s background, and the two additional registrations Patil holds beyond this one, the Whitestone Capital review page on this site covers all of that.

Whitestone Capital: What the SEBI Registration Permits?

Before the list itself, it helps to know why this matters: this is the legal ceiling on what any Research Analyst can actually offer, regardless of how a plan is marketed.

Here’s exactly what falls inside that boundary.

• Publish research reports on equities, sectors, and index movements, based on verifiable data with disclosed assumptions and clearly flagged risks.
• Issue buy, sell, or hold recommendations, provided they are backed by documented research and include risk warnings rather than promises of outcome.
• Share analytical views across equity, derivatives, and macroeconomic segments, strictly as analysis rather than portfolio execution or fund management.
• Charge disclosed, flat fees for these services, agreed upon before the service begins.

Whitestone Capital: What the SEBI Registration Does Not Permit?

Just as important as what’s allowed is what sits outside the line entirely, since this is exactly where subscriber complaints tend to originate across the whole industry.

Here’s what no SEBI Research Analyst, including this one, can legally do.

• No guaranteed returns or fixed income promises. Any assurance of a specific percentage gain or a fixed monthly income is misleading by definition, regardless of the firm’s past performance.
• No promise to recover past losses. Positioning a paid plan as a way to recover money already lost in the market is a direct violation of SEBI’s code, no matter how the offer is framed.
• No performance-linked or profit-sharing fees. Charging based on how much a client made, or tying subscription cost to portfolio performance in any way, is prohibited entirely.
• No pressure tactics. Unsolicited repeated outreach, manufactured urgency to subscribe, or discouraging a client from taking time to decide falls outside SEBI’s fair conduct expectations.
• No missing documentation. Every client is entitled to a written service agreement and a risk disclosure document before paying anything. Their absence is a compliance gap, not a minor inconvenience.

These rules apply to every SEBI-registered Research Analyst, not only to Whitestone Capital.

Keeping them in mind gives you a fixed standard to judge any firm’s conduct against, including this one.

Not sure whether something Whitestone Capital promised you crosses a line SEBI does not allow?

We check your specific situation against SEBI’s Research Analyst rules and tell you plainly whether it is a valid complaint ground.

Register with us for a free consultation.

Already Have a Complaint Against Whitestone Capital?

If you believe any of the prohibited practices above have already happened in your case, the complete complaint filing process is covered separately.

The full route, from your first written complaint through SEBI SCORES, SMART ODR, and arbitration, is covered on the Whitestone Capital complaints page.

Conclusion

Whitestone Capital is genuinely SEBI registered under INH000020794, and verifying that takes about two minutes on SEBI’s own database.

What the registration permits and what it prohibits are both specific and worth knowing before you rely on either. A research report backed by disclosed assumptions is within bounds.

A guaranteed return or a profit-linked fee is not, no matter which firm offers it.

Verify the registration yourself, read the permitted and prohibited list above against whatever you were told before subscribing, and treat any mismatch as a reason to ask harder questions before you pay.

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Frequently Asked Questions

1. What is Whitestone Capital's SEBI registration number?

Whitestone Capital, led by proprietor Aditya Subhash Patil, holds SEBI Research Analyst registration INH000020794, active since June 11, 2025 on a perpetual basis. Verify the current status directly on SEBI's website.

2. Does SEBI registration mean Whitestone Capital's calls are reliable?

No. The registration confirms the firm met SEBI's eligibility requirements to operate as a research analyst. It does not certify the accuracy of its recommendations or guarantee any investment outcome.

3. Can Whitestone Capital promise to recover my past trading losses?

No. SEBI's code specifically prohibits any registered research analyst from promising to recover losses a client already incurred. Any such offer is a violation regardless of how it is framed.

4. Can Whitestone Capital charge fees based on my trading profits?

No. Performance linked or profit sharing fee structures are prohibited entirely for SEBI registered Research Analysts. All fees must be flat, disclosed, and agreed upon before the service begins.

5. What should I check before paying for a Whitestone Capital plan?

Confirm INH000020794 shows Active status on SEBI's website, read the Investor Charter and fee terms in full, and get written confirmation of exactly which registration, Research Analyst, AMFI, or PMS, covers the specific service you are paying for.