Quick Summary
OnePaper Research Analysts Private Limited holds SEBI Research Analyst registration INH000008093, active since January 2021. On 16 June 2026, SEBI’s Adjudicating Officer imposed a ₹30 lakh penalty on the firm, ₹10 lakh for regulatory non-compliance and ₹20 lakh for fraudulent and unfair trade practices, after an inspection found staff assuring clients of returns and loss recovery over WhatsApp. Four of its seven pricing plans exceed the ₹1,51,000 annual SEBI fee ceiling when annualised. Its complaint record and Google reviews carry a separate story, covered in full on our dedicated OnePaper Research Analysts Reviews page.
A SEBI adjudication order now sits on OnePaper Research Analysts Private Limited’s public record, carrying a ₹30 lakh penalty imposed in June 2026 after an inspection found staff assuring clients of guaranteed returns and loss recovery.
This is not an allegation or a pattern inferred from user reviews.
It is a formal adjudication order, Order/AK/DS/2026-27/32446, and it is the clearest, most heavily documented case on this site to date, because a regulator has already done the work of establishing what happened.
This page works through that registration, the full order in detail, and the pricing structure against the fee cap.
OnePaper Research Analysts Review
OnePaper Research Analysts Private Limited describes itself as a market research firm providing research-backed views to help clients make informed investment decisions, delivered in what it calls a structured and routine format.
Its stated services centre on research, customer-focused investment support, and risk management, and the firm says it aims to understand each client’s financial requirements before providing research aligned with their stated objectives.
No social media handles are linked or mentioned on the site.
That description, read on its own, is unremarkable and matches what most Research Analyst websites say about themselves.
What SEBI’s own inspection found sitting behind that description is the reason this firm needs a page built around a regulatory order rather than marketing claims.
Is OnePaper Research Analysts SEBI Registered?
Yes. The registration is genuine, and it is the same registration number named directly in SEBI’s adjudication order against the firm.
| Detail | Information |
|---|---|
| Organisation Name | OnePaper Research Analysts Pvt Ltd |
| SEBI Registration Number | INH000008093 |
| PAN | AADCO2642Q |
| Validity | 14 January 2021, Perpetual |
| Registered Address | 74 Techno Park, 74/II, C Cross Road, Opp. Gate No. 2, MIDC, Seepz, Andheri East, Mumbai, Maharashtra 400093 |
| Correspondence Address | 74 Techno Park, 74/II, C Cross Road, Opp. Gate No. 2, MIDC, Seepz, Andheri East, Mumbai, Maharashtra 400093 |
| Contact Person | Bimesh Sah |
| [email protected] |
What the INH prefix permits, and what OnePaper’s own order shows about the gap
The INH prefix marks a Research Analyst.
A Research Analyst may publish research and issue buy, sell or hold recommendations to a subscriber base.
It may not give personalised advice built around an individual client’s income, goals or holdings, may not execute trades on a client’s behalf, and may not manage a portfolio.
Setting and repeatedly altering a client’s stop loss over WhatsApp, as the SEBI order documents, in more than one instance, sits outside that permitted scope regardless of who at the firm was doing it.
That is a large part of why the order treats the WhatsApp conduct as a regulatory violation rather than an internal HR matter.
Being registered is not a marker of safety on its own.
It means a defined set of obligations applies to the firm, and it means SEBI has the authority to inspect and penalise it when those obligations are not met, which is exactly what happened here.
Has SEBI Taken Action Against OnePaper Research Analysts?
Yes. On 16 June 2026, SEBI’s Adjudicating Officer issued Adjudication Order No. Order/AK/DS/2026-27/32446 against the firm, imposing a ₹30 lakh penalty for fraudulent and unfair trade practices and regulatory non-compliance.
The order followed a March 2024 inspection that found the firm running a hundred-person sales floor behind just two certified Research Analysts, with staff caught on a test call assuring a client of guaranteed returns, and six separate named WhatsApp exchanges showing employees instructing clients to hold losing positions and promising loss recovery.
The order also notes this was not the firm’s first SEBI penalty.
That order runs to 28 pages and covers an eighteen-month procedural history, including a rejected settlement application and an appeal to the Securities Appellate Tribunal.
It deserves to be read in full rather than summarised here, and our dedicated OnePaper Research Analysts SEBI Order page works through it end to end, including the evidence, the firm’s defence, and exactly why SEBI rejected each argument.
OnePaper Pricing and the ₹1,51,000 SEBI Fee Cap
Pricing and fee compliance are a separate question from the order above, and worth checking on their own terms.
A Research Analyst may charge a maximum of ₹1,51,000 per annum per family for individual and HUF clients who are not accredited investors.
The Published Monthly Plans, Annualised
| Plan | Monthly Fee | Annualised Fee | Against the Cap |
|---|---|---|---|
| Commodities Pack | ₹10,000 | ₹1,20,000 | Under by ₹31,000 |
| Stock Cash | ₹10,000 | ₹1,20,000 | Under by ₹31,000 |
| Basic F&O | ₹10,000 | ₹1,20,000 | Under by ₹31,000 |
| F&O Exclusive | ₹40,000 | ₹4,80,000 | Over by ₹3,29,000 |
| Equity Exclusive | ₹40,000 | ₹4,80,000 | Over by ₹3,29,000 |
| Commodity Exclusive | ₹40,000 | ₹4,80,000 | Over by ₹3,29,000 |
| Equity Combo | ₹60,000 | ₹7,20,000 | Over by ₹5,69,000 |
Four of the seven plans breach the annual ceiling on a single subscription, with no combination needed.
The Equity Combo plan alone runs to nearly five times the permitted annual limit.
The site’s pricing pages do not identify which client category these higher-tier plans are intended for.
Given what SEBI’s own order found about how aggressively this firm’s sales staff pursue subscriptions and renewals, a prospective client should not assume the accredited investor exemption applies without being told so directly and in writing.
One protection applies regardless of plan or client category.
On early termination, a Research Analyst’s client is entitled to a proportionate refund for the unexpired period, and the analyst may not retain a breakage fee.
Given the pattern in the SEBI order documents of staff pressing clients to keep positions open and add funds rather than exit, this is worth knowing before you subscribe rather than after.
What Should You Check Before Subscribing to OnePaper?
Given everything above, a handful of checks matter more here than they would with most other firms reviewed on this site.
1. Get Every Recommendation in Writing, on the Firm’s Registered Channel
OnePaper’s own SMS policy, cited in its defence to SEBI, states that recommendations should arrive by SMS only.
If a recommendation, a stop-loss change, or a fund request arrives over WhatsApp instead, that is itself worth flagging and keeping a record of, regardless of what the message says.
2. Never Agree to Hold a Losing Position on a Verbal or Informal Assurance
The SEBI order documents multiple instances of staff promising loss recovery in exchange for holding a position or adding funds.
No registered analyst can guarantee a recovery, and a request framed that way is the single clearest warning sign this order describes.
3. Add up your Annual Cost Before Choosing a Plan
With four of seven plans priced well above the SEBI ceiling, confirm in writing which client category you are being sold under before paying anything above the three lower-tier plans.
4. Ask Directly Whether you are Speaking with a Certified Research Analyst
With only two certified analysts against roughly a hundred sales staff during the period SEBI inspected, the person contacting you is statistically more likely to be a sales executive than a certified analyst.
Ask, and get the answer in writing.
What Does the Full Complaint Record and Independent Reviews Show?
Registration and the SEBI order are only part of the picture.
OnePaper’s own complaint disclosure and its 111 Google reviews tell a further and equally serious story, covered in full on our OnePaper Research Analysts Reviews page.
Paid For a Plan Above the SEBI Fee Cap, or Recognise Any Violation Named Here?
If any of this matches your own experience with OnePaper, a plan priced over the limit, a WhatsApp recommendation, or a promise of guaranteed returns, register with us, and we’ll help you match it against the SEBI order, organise your records, and build your complaint.
Disclaimer
This page is based on the public SEBI Adjudication Order dated 16 June 2026, the SEBI intermediary register, and OnePaper’s own published material, current as of September 2026.
All conduct described in the SEBI order section is drawn directly from that order.
Registration details and pricing can change, so verify everything at source before acting.
Treat this page as research, not legal or investment advice.
Conclusion
OnePaper Research Analysts Private Limited holds a genuine SEBI registration, INH000008093, and also carries a genuine SEBI penalty.
A June 2026 adjudication order found the firm’s sales staff assuring clients of returns and loss recovery, operating a 100-person sales floor against just two certified analysts, and failing to maintain the records that could have shown how widespread the practice was.
The penalty totalled ₹30 lakh, and the order notes this was not the firm’s first.
On pricing, four of seven plans breach the SEBI fee cap outright when annualised, with no combination required.
If you have subscribed to this firm and recognise any of the conduct described in the SEBI order, gather your own chat records, call logs and payment receipts now.
The order itself is public and can be cited directly in any complaint you raise.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. The registration remains active and perpetual, and the SEBI penalty against the firm does not cancel it. A registration and a disciplinary record are two separate things, and both can be true of the same firm at once.
For fraudulent and unfair trade practices and regulatory non-compliance, after an inspection found staff assuring clients of guaranteed returns and loss recovery over WhatsApp, and for failing to maintain adequate records or oversight of a large sales staff.
Yes, per the order's own text, though the order does not go into further detail on that earlier matter.
Yes. The F&O Exclusive, Equity Exclusive, Commodity Exclusive and Equity Combo plans all breach ₹1,51,000 annually on their own when the monthly fee is annualised, with Equity Combo running to nearly five times the limit.
That is covered in full on our dedicated OnePaper Research Analysts Reviews page, which includes the firm's complaint disclosure figures and independent Google reviews rather than being repeated here.
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