Quick Summary
Marathon Trends Advisory Private Limited holds SEBI investment adviser registration INA000018319, valid from 1 August 2023 and perpetual. Its disclosure shows one complaint received and resolved in FY 2025-26, and zero in every other period listed. We could not find pricing, Terms and Conditions or MITC on the website when we checked. The claims of 30 years of experience and over 3,000 customers are the firm’s own and we could not verify them.
Soon after a stranger’s advisory pitch lands in your inbox, a name like Marathon Trends Advisory Private Limited is all you have to go on.
You want to know who stands behind it, what it sells and what happens if things go wrong.
This blog walks through what the firm’s own disclosures and SEBI’s public listing show. It also marks the gaps, so you can ask the right questions before any money moves.
What Is Marathon Trends Advisory Private Limited and What Does It Offer?
Marathon Trends Advisory Private Limited is a company that offers advisory services focused on the Indian equity market.
Its website says it follows a trend following approach to spot market trends and investment opportunities.
The firm describes its work as research and analysis of market trends, industries and wider market conditions.
The stated aim is to support the analysis and management of an investor’s portfolio.
Its website explains the idea through a simple principle. Back what is getting stronger and move away from what is getting weaker.
That wording is the firm’s own, and it matches how trend following is usually described.
The method tries to ride sustained price moves rather than predict turning points.
What A Trend Following Adviser Can Reasonably Offer
A trend following adviser can give you a rule based way to think about when to hold and when to step aside.
Rules can reduce the pull of emotion, which is where many retail investors lose money.
It can also give you a documented process.
You can ask to see how a signal is defined, how often it changes and what happens when a trend ends.
What A Trend Following Adviser Cannot Promise
No adviser can promise that a trend will continue.
Trend based methods often struggle when markets move sideways, because they can buy a rise just before it fades and sell a fall just before it recovers.
SEBI rules do not allow guaranteed or assured returns in advice.
If you ever see wording that sounds like a promised outcome, ask the firm to explain it in writing against that rule.
Where The Website Leaves Questions Open
The research on the firm shows a Product section on the website.
The homepage content we reviewed does not explain the specific products, their features, the strategy behind each or the type of investor each suits.
Without that, you cannot easily tell what you would receive.
You also cannot compare the offer with another registered adviser on equal terms.
A short checklist helps here. Ask what a client gets in a month, in what form it arrives, who prepares it and how a client can act on it.
Marathon Trends Advisory Founder and Team
The firm presents itself as an equity market adviser with a long track record.
Its website lists sections for the advisory process, regulatory disclosures, grievances and client payments.
We did not find social media links on the website content we reviewed.
That is not a problem in itself, but it means you have fewer public places to see how the firm talks to clients over time.
Is Marathon Trends Advisory Private Limited SEBI Registered?
According to SEBI’s public listing as reflected in our research, the firm is registered as an investment adviser.
The details below are what the listing shows, and you should confirm them yourself.
- Registration number is INA000018319. The INA prefix marks an investment adviser.
- Validity runs from 1 August 2023 and is listed as perpetual.
- Registered office is at Hill Road in Bandra West, Mumbai, with the pin code 400050.
- Correspondence address is at SV Road in Khar West, Mumbai, with the pin code 400052.
- Contact person is listed as Vineet Kumar Singh.
The website names Atul Suri as founder and Vineet Singh as principal officer and co promoter. It names Vidhi Gulabani as compliance officer.
Those names matter for one reason. If you ever need to write a grievance, you will address it to the people who hold those roles.
Registration is a starting point, not a verdict on quality.
SEBI registration tells you the entity is permitted to give investment advice, and it does not tell you how good that advice is.
You can run the check yourself in a few minutes.
A SEBI Investment adviser registration number search lets you enter INA000018319 and compare the name, category and validity with what this page reports.
If you prefer a different route, a SEBI registered site detector or a SEBI registered list on the regulator’s own pages does the same job.
Whichever you use, make sure the name on your payment page matches the name on the registration.
One more point on category. While searching, we came across third party directory pages whose titles place the firm under portfolio management listings as well.
We could not confirm that against SEBI’s own record, so this blog treats the firm as an investment adviser only.
If you plan to hand over a portfolio to be managed, ask the firm in writing which registration covers that service.
Does Marathon Trends Advisory’s Complaint Data Add Up?
Complaint tables show how many grievances reached the firm and what happened to them.
Below are the two tables from the firm’s disclosure, with the totals added up again so you can see they agree.
The monthly table covers April 2025 to September 2026.
Every month shows zero carried forward, zero received, zero resolved and zero pending, except October 2025.
|
Period |
Carried forward | Received | Resolved | Pending |
|
April to September 2025 (six months) |
0 | 0 | 0 | 0 |
|
October 2025 |
0 | 1 | 1 | 0 |
| November 2025 to March 2026 (five months) | 0 | 0 | 0 |
0 |
| April to September 2026 (six months) | 0 | 0 | 0 |
0 |
| Total across 18 months | 0 | 1 | 1 |
0 |
The annual table runs from FY 2023-24 to FY 2026-27. The last row is starred because that year is only part complete.
|
Financial year |
Carried forward | Received | Resolved | Pending |
|
FY 2023-24 |
0 | 0 | 0 | 0 |
|
FY 2024-25 |
0 | 0 | 0 | 0 |
| FY 2025-26 | 0 | 1 | 1 |
0 |
| FY 2026-27 (part year) | 0 | 0 | 0 |
0 |
| Grand total | 0 | 1 | 1 |
0 |
Adding the rows gives one complaint received and one resolved across the whole period. The monthly and annual tables agree with each other.
How To Read The Apparent Mismatch
The research notes flag a conflict between the one complaint in FY 2025-26 and the zero shown for September 2026.
There is no conflict, because they describe different periods.
FY 2025-26 means April 2025 to March 2026.
September 2026 falls in the next financial year, and the monthly table shows the single complaint arrived in October 2025 and was resolved in the same month.
So the right reading is simple. One complaint came in during FY 2025-26, it closed that month, and nothing has been received since in the months listed.
What The Tables Do Not Tell You
The tables give counts and nothing more.
The website content we reviewed does not describe what the complaint was about or how it was resolved.
That means you cannot judge whether the issue was minor or serious.
A single resolved complaint on its own is a thin basis for any view, good or bad.
The monthly table also starts in April 2025.
For earlier months the annual table is the only source, and it shows zeros for FY 2023-24 and FY 2024-25.
These figures are as of the September 2026 disclosure.
Firms must update the monthly figures by the 7th of each month, so check whether October 2026 has appeared since this was written.
In the sources we reviewed, we found no SEBI order against the firm as of 13 October 2026.
That is not a clean certificate, because orders can be published later and our search was limited.
Also Read: EquityPandit Financial Services has a 2018 SEBI order that imposed a ₹40 lakh penalty for unregistered advisory activity during 2013–2016.
Marathon Trends Advisory Reviews And Claims Of 30 Years Experience And 3,000 Customers
The firm’s website says it has more than 30 years of experience and has served over 3,000 customers.
Both statements come from the website itself, and we could not verify either of them.
Our research for this blog did not include client reviews of the firm.
We have therefore not described any, and we do not want a missing review to read as a good or bad sign.
The website content we reviewed gives no supporting detail for the two claims.
Here is how you can weigh them with simple questions and some arithmetic.
The three examples below are illustrations of reasoning.
They use the firm’s stated number and the registration date, and none of them is a finding about the firm.
1. Who Does The 30 Years Belong To?
The registration shows 1 August 2023 as the start date.
The company holding INA000018319 has therefore been a registered adviser for roughly three years and two months as of October 2026.
Thirty years of experience can still be true. It may belong to the promoters, who may have worked in markets or advisory roles earlier.
A fair question to ask is whether the experience sits with the people or with the company.
Ask which individuals carry it, what roles they held and whether those roles can be checked.
2. What Does 3,000 Customers Mean In Monthly Terms?
If all 3,000 customers came through this registered company since August 2023, that is about 38 months.
Divide 3,000 by 38 and you get roughly 79 new customers every month, or between two and three every day.
That pace is possible, but it is worth understanding.
If the figure counts customers from earlier years or from other entities, the pace would look very different.
Ask whether the number is for this company only.
Ask also whether it covers the full life of the business or only the registered period.
3. What Counts As A Customer?
A customer could be a paying subscriber, a webinar attendee, a free trial user or someone who filled in a form.
Each meaning gives a very different picture.
As an illustration, imagine 3,000 paying clients at 10,000 rupees a year each.
That would be 3,00,00,000 rupees, or 3 crore, in yearly fees, while the same count of free sign ups would mean no fee income at all.
The illustration uses made up fees and does not describe the firm. Its purpose is to show why the definition matters.
A Fair Way To Treat Both Claims
Treat them as the firm’s own marketing statements until the firm explains them.
A clear, written answer to the three questions above would settle most of the doubt.
If an answer is vague or never arrives, that tells you something about how the firm handles questions from prospects.
Weigh that against the registration and complaint data above.
Does Marathon Trends Advisory Disclose Its Fees?
The website content we reviewed shows no price for any service.
It shows a Client Payment link, and it does not say what a client is paying for, how much or how often.
This matters because SEBI sets a ceiling on what an investment adviser can charge in fixed fee mode.
The cap is 1,51,000 rupees per client per family per year.
With no price on display, you cannot tell where the firm sits against that cap. You also cannot compare it with other registered advisers.
Before you pay anything, ask for these items in writing.
- The fee in rupees for each service and each period.
- Whether GST is added on top. If a quoted figure equals the cap plus 18 percent GST, which is 1,78,180 rupees, it does not breach the cap, but the GST treatment should still be confirmed in writing.
- The refund terms if you leave mid term.
- The mode of payment and the name of the account that receives it.
The last item deserves attention. Check that the account name on the Client Payment page matches the registered company name before you transfer any money.
Also Read: JioBlackRock Investment Advisers Private Limited has “Start small, pay less” as the pitch, but its site doesn’t spell out the advisory fees.
Can Investors Review Marathon Trends Advisory’s Terms Before Paying?
We could not find Terms and Conditions or a Most Important Terms and Conditions document on the website when we checked.
That does not mean the documents do not exist, and the firm may share them on request.
These papers matter because they set out what the adviser will do, what you must do, the risks and how grievances are handled.
SEBI rules expect the MITC and the client agreement to be in your hands before fees are paid.
If you cannot see them before payment, ask for them first.
A firm that is confident in its terms should be happy to send them to your email the same day.
Read three things closely when they arrive.
See what the scope of advice is, how the fee is collected and what the exit process looks like.
Also check that the risk profile and suitability steps are described.
SEBI expects an adviser to profile your risk appetite and match advice to it, so a document that says nothing on this is worth querying.
Paid for advice but cannot find the terms?
Our team reviews your payment proof and whatever agreement exists, drafts a written grievance to the adviser, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
If the documents do arrive, keep them with your payment receipt. A dated email trail is the most useful record you can hold later.
A missing MITC often decides how a later dispute feels.
If a payment disagreement stays open after the firm and SEBI have both heard you, the SMART ODR portal lets a neutral conciliator look at the papers with you, so keep the receipt and the replies together.
What Does Marathon Trends Advisory’s Privacy Policy Say?
When you sign up with an adviser, you hand over sensitive details.
The privacy policy tells you where those details can travel, so it is worth reading before you share a PAN or bank statement.
The firm’s privacy policy covers several points that a careful reader may want to weigh.
1. Sharing With Group Companies, Affiliates And Third Parties
The policy says personal information may be shared with group companies, affiliates, subsidiaries and third parties to offer products and services.
It does not name those entities or explain the safeguards that apply.
You may want to ask which companies receive your data and under what contract. A named list would answer most of that.
2. Surveys, Newsletters And Marketing
The policy says personal information may be used for surveys, newsletters and relevant marketing materials.
It does not clearly explain how you can opt out.
If you do not want promotional messages, say so in your first email.
Ask the firm to confirm in writing that your contact details will be used only for the service you buy.
3. PAN, Aadhaar, Bank Details And Holdings
The policy refers to collecting PAN, Aadhaar, bank account details and investment holdings.
It gives limited detail on how long they are kept and how you can ask for deletion where the law allows.
These are the items that cause the most harm if mishandled.
Ask how long they are stored and what happens to them once you stop being a client.
A practical tip applies here. Share only what the service needs, and avoid sending a full Aadhaar number by email when a masked copy will do.
Questions to Ask Marathon Trends Advisory Before You Pay
The gaps above can be turned into a short set of questions.
Send them by email so you have a written reply, and wait for the answers before you pay.
Each question below has a reason behind it, drawn from what the firm’s disclosure leaves open.
1. What exactly will I receive?
Ask for a description of the service, its format and its frequency. The homepage does not explain this, so the answer should come from the firm.
2. How does your trend following method handle a sideways market?
This tells you whether the firm talks openly about the weak side of its own method. A good answer names losing periods and explains how risk is limited.
3. What is the fee, and what does it include?
Ask for the figure in rupees, GST treatment, payment dates and refund terms. Compare it with the 1,51,000 rupee cap if it is a fixed fee.
4. Can I see the agreement and MITC before payment?
Since we could not find them online, request them directly.
Keep the reply as proof. Also ask how the firm settles disputes, because a clause that sends everything to arbitration changes your options, and reading up on arbitration in share market cases first helps you judge it.
5. Whose experience are the 30 years and 3,000 customers?
Ask whether the numbers belong to the company or to its promoters, and what each number counts. The earlier examples show why the definition changes the picture.
Also Read: Fluid Fincap Private Limited website describes the advisory approach, yet specific service deliverables and pricing remain unclear.
Marathon Trends Advisory Contact Details and Grievance Channels
The SEBI listing shows an email address for the contact person, and the website lists contact details for the principal officer and the compliance officer.
It also gives email addresses for sending grievances.
Use the email and keep everything in writing. The listing shows the same 15 digit number, starting with several zeros, against both telephone and fax.
That does not look like a number you could dial, so confirm a working phone number with the firm before you rely on it.
A written trail is stronger anyway.
Address your grievance to the compliance officer, Vidhi Gulabani, and copy the principal officer, Vineet Singh.
State your name, client ID or payment reference, the issue and the outcome you want within a reasonable time.
If the firm does not reply or you disagree with its answer, you have routes beyond the firm.
Our guide on a SEBI complaint against investment advisor explains how those cases usually run from the first email to a formal filing.
Give the firm a fair window to respond before you escalate.
SEBI expects intermediaries to handle complaints in an orderly way, and your dated email shows you followed that sequence.
The first official step is usually the regulator’s own online system.
The page on how to use the SCORES SEBI complaint route shows what to attach and how the case moves after you submit.
Keep copies of every reply you receive on that system. They matter if you later need to take the matter further.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 13 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. We could not independently confirm the firm’s claims of more than 30 years of experience and over 3,000 customers, its fee levels, or the content of any agreement or policy beyond what the research showed.
Conclusion
Marathon Trends Advisory Private Limited holds a SEBI investment adviser registration, and its disclosed complaint record is short.
The harder part is the missing detail, so your next step is to ask for it.
Before you pay, request the fee in rupees, the MITC, the client agreement and a clear description of what you will receive.
Ask what the 30 years and 3,000 customers claims count, and keep every answer in writing.
Check the registration yourself, confirm a working contact number, and match the payment account name to the registered company.
If the firm answers openly and promptly, you have a better basis to decide.
If a dispute arises later, file the grievance in writing first and use the escalation routes in order.
Keep your receipts, emails and screenshots in one folder.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The SEBI listing shows it as an investment adviser under registration INA000018319, valid from 1 August 2023 and listed as perpetual. Confirm the details on SEBI's website before paying, and match the name on any payment page.
The annual disclosure shows one complaint received and resolved in FY 2025-26, and zero in FY 2023-24, FY 2024-25 and the part year of FY 2026-27. The monthly table places that complaint in October 2025.
The website content we reviewed showed no pricing, only a Client Payment link. Ask the firm to state fees in rupees, GST treatment and refund terms in writing before you pay.
It is the firm's own statement and we could not verify it. The registration dates from August 2023, so ask whether the experience belongs to the promoters or the company and request supporting detail.
Use the email address in the SEBI listing and the grievance emails on the website, and keep everything in writing. The listed telephone number looks unusual, so confirm a working number with the firm first.
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