Quick Summary
Pragati Chettri operates Equity Prime Research, a SEBI registered Research Analyst carrying INH000023490, active since September 2025 and based in Bengaluru, Karnataka. Seven of the firm’s fifteen published pricing cycles breach the ₹1,51,000 annual SEBI fee ceiling once annualised, spanning every service the firm offers, not only the MCX plan the material behind this page identifies. Its current complaint table’s own Grand Total row shows zero received and zero resolved, directly beneath a monthly entry recording one complaint received and resolved in March 2026. Its annual complaint history is separately reported to cover a financial year that predates the registration itself.
Pragati Chettri operates Equity Prime Research, a SEBI-registered Research Analyst with registration INH000023490, based in Bengaluru, Karnataka.
The registration is genuine. The pricing page is where the real issue sits, and it runs wider than the single MCX concern already flagged in the material behind this page.
Checking every service against the SEBI fee ceiling turns up seven breaching cycles across the firm’s full range of offerings.
This page works through the registration, the complete pricing grid against the ₹1,51,000 cap, an arithmetic error inside the firm’s own complaint table, and the marketing language worth a second look.
Pragati Chettri Review
Equity Prime Research offers research and trading recommendations for the Indian stock market, describing its recommendations as based on fundamental, technical, and news-based analysis generated by its research team.
Services span equity cash, stock options, index options, commodities, and energy.
For the cash market, the firm offers 1 to 3 calls a day depending on market movement, each carrying two targets and a stop-loss.
Options coverage spans stock options, Nifty, and Bank Nifty, while commodity and energy calls cover gold, silver, crude oil, and natural gas.
The site’s YouTube link points to a channel named “Pragati RA,” distinct from the firm’s own brand name, while its LinkedIn profile is listed under the Equity Prime Research name directly.
None of this establishes wrongdoing, and nothing further on this page does either.
Where a registered analyst’s conduct does cross a line, the formal escalation route is covered in full further down this page.
Is Pragati Chettri SEBI Registered?
Yes, and INH000023490 is confirmed independently on SEBI’s own published Research Analyst list.
| Detail | Information |
| Name | Pragati Chettri, Proprietor of Equity Prime Research |
| SEBI Registration Number | INH000023490 |
| Validity | 26 September 2025, Perpetual |
| Address | No. 138/1391, Arakere, GR Queens Amber, 1st Cross, Mico Layout Road, Bangalore, Karnataka 560076 |
| Contact Person | Pragati Chettri |
What the INH Prefix Permits
The INH prefix marks a Research Analyst. It permits publishing research and issuing recommendations to a subscriber base.
It does not permit personalised advice built around an individual client’s income, goals or holdings, trade execution, or portfolio management.
Equity Prime Research Pricing and the ₹1,51,000 SEBI Fee Cap
This is the most significant finding on this page, and it goes further than the single plan the material behind this page already identifies.
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 Price Grid
| Service | Monthly | Quarterly | Half Yearly |
|---|---|---|---|
| Stock Cash | ₹15,000 | ₹30,000 | ₹50,000 |
| Options | ₹15,000 | ₹30,000 | ₹50,000 |
| Index Options | ₹15,000 | ₹30,000 | ₹50,000 |
| Stock Future | ₹15,000 | ₹30,000 | ₹50,000 |
| MCX | ₹20,000 | ₹50,000 | ₹85,000 |
Every Cycle, Annualised
| Service and Cycle | Annualised | Against the Cap |
|---|---|---|
| Stock Cash, Monthly | ₹1,80,000 | Over by ₹29,000 |
| Options, Monthly | ₹1,80,000 | Over by ₹29,000 |
| Index Options, Monthly | ₹1,80,000 | Over by ₹29,000 |
| Stock Future, Monthly | ₹1,80,000 | Over by ₹29,000 |
| MCX, Monthly | ₹2,40,000 | Over by ₹89,000 |
| MCX, Quarterly | ₹2,00,000 | Over by ₹49,000 |
| MCX, Half-Yearly | ₹1,70,000 | Over by ₹19,000 |
The Breach Is Not Limited To One Plan
Seven of the fifteen billing cycles this firm publishes breach the ceiling, spanning every service it offers.
Stock Cash, Options, Index Options, and Stock Future all breach on their monthly cycle, each by the same ₹29,000 margin, since all four are priced identically.
MCX breaches on all three of its cycles, the only service on this page priced high enough to breach even at its longest available duration.
Quarterly & Half -Yearly Cycles On The Four Core Services Stay Compliant
Stock Cash, Options, Index Options, and Stock Future all stay under the ceiling when billed quarterly or half-yearly, which means the breach on these four services is specific to their monthly billing option rather than a problem with the pricing across the board.
Choosing the quarterly or half-yearly cycle instead of monthly, where the service allows it, brings the cost back under the limit.
MCX has no compliant cycle at all among the three published. Its half-yearly rate, the lowest annualised figure it offers, still breaches by ₹19,000.
Combining more than one service compounds the problem rather than avoiding it, since the ceiling applies per client family across every research service from the same analyst combined.
Before subscribing to more than one service, or choosing a monthly cycle on any of them, add up your actual annual total and compare it to ₹1,51,000.
One protection applies regardless of which plan is chosen. On early termination, a client is entitled to a proportionate refund for the unexpired period, and a Research Analyst may not retain a breakage fee.
Does Equity Prime Research’s Complaint Table Add Up?
Two separate issues sit in this firm’s complaint disclosure, and they are worth treating one at a time.
Current Complaint Status
| Received From | Pending Last Month | Received | Resolved | Total Pending | Pending Over 3 Months | Avg. Resolution Time |
|---|---|---|---|---|---|---|
| Directly from Investors | 0 | 0 | 0 | 0 | 0 | N/A |
| SEBI (SCORES) | 0 | 1 | 1 | 0 | 0 | 9 days |
| Other Sources | 0 | 0 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 1 | 1 | 0 | 0 | 9 days |
Monthly Disposal Trend
| Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| September 2025 through February 2026 | 0 | 0 | 0 | 0 |
| March 2026 | 0 | 1 | 1 | 0 |
| April 2026 through July 2026 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 0 | 0 | 0 |
Monthly Table’s Own Total Row Contradicts The Row Above It
The March 2026 row states 1 complaint received and 1 resolved. The Grand Total row directly beneath the full table states 0 received and 0 resolved.
This is not a disagreement between two separate tables describing different periods.
It is the same table’s own summary failing to add up the single row that contains any activity at all.
The current complaint status table, shown separately, correctly states 1 received and 1 resolved through SCORES, which matches the March 2026 entry in the monthly table.
The genuine complaint history is one case, resolved in 9 days.
The Grand Total error in the monthly table is a presentation mistake rather than a sign that a complaint has gone unaccounted for elsewhere.
Annual Complaint Data Covers A Period Before The Registration Existed
Separately from the monthly table, the firm’s annual complaint disclosure is reported to include figures for FY2023-24.
The registration itself became active on 26 September 2025.
A financial year running from April 2023 to March 2024 predates the registration by well over a year, which means genuine investor complaints against this specific registration cannot exist for that period.
This is worth raising directly with the firm rather than assuming it to be a simple labelling error, since it affects whether the annual table can be trusted as an accurate history at all.
What Marketing Claims on the Website Need a Closer Look?
The site’s promotional language is extensive, and it is worth reading through several examples together rather than as isolated phrases.
1. A Leading, Most Trusted Claim
The site describes Equity Prime Research as “India’s Top and Most Trusted Research Analyst” and states its aim is to “maximize returns and minimize risk.”
Claims of this scale, made without any supporting ranking or comparative data, are the kind of language SEBI’s advertisement standards for Research Analysts caution against.
2. A Specific Success Rate With No Methodology Behind It
The FAQ states an “85% to 95% success rate of calls,” without explaining how that figure was calculated, over what period, across what sample size, or against what definition of a successful call.
A range this specific, presented without any of that context, cannot be independently verified.
3. Repeated Profit and Accuracy Language
Phrases including “maximize profits,” “maximize your returns,” “good profit,” and “highly accurate services” recur across the site, alongside marketing built around “premium and high net worth” positioning and “profitability.”
The volume and consistency of this language across the site is worth reading with real caution rather than as routine promotional copy.
None of this amounts to an explicit guarantee of returns in the way SEBI orders have treated direct profit promises.
It is the kind of language a compliance review would ordinarily flag, particularly paired with a pricing structure that already breaches the fee cap on nearly half its published cycles.
Who Handles Complaints at Equity Prime Research?
The same individual is listed as CEO, Head of Customer Care, and Compliance Officer.
For an individual registration, this structure is common and not itself irregular, but it means the person reviewing your complaint is the same person the complaint is most likely to concern, and there is no independent internal check on how that complaint gets recorded or resolved.
That structural fact is the reason a written, dated record of any grievance matters more here than it would at a firm with separate compliance staff.
Most Social Media Links Do Not Work
Facebook, LinkedIn and YouTube icons appear on the site, but most of the linked profiles do not function.
Where they do connect, both the YouTube channel and the LinkedIn profile show no recent activity for several months, and the LinkedIn profile carries no meaningful description of the analyst or the business.
Google Reviews Sit at 3.0 from 4 Ratings
The firm’s Google listing carries a 3.0 out of 5 rating from 4 reviews, a small sample but a mixed one.
One recent review alleges the firm obtains contact data from third-party sources and makes unsolicited spam calls.
We are reporting what this review states. We are not independently verifying this specific account, and no SEBI order confirming this conduct has been issued as of this writing.
How to File a Complaint Against Pragati Chettri?
Given the pricing findings above, particularly the breach spanning every service the firm offers, a complaint here has firmer, more documentable ground than a dispute over research quality alone.
Start by working out your actual annual cost if you hold any plan on its monthly cycle, or MCX on any cycle.
Ask the firm directly, in writing, to explain the annual complaint data covering a period before the registration existed, and request confirmation of the actual complaint count.
Send your grievance to the RA firm’s email ID, describing what you were told, what you paid, and what you want resolved.
Keep the sent record regardless of what comes back.
If the response is not satisfactory, escalation runs through a specific set of channels, and each one exists for a different stage of the dispute rather than as alternatives to pick from.
1. SEBI SCORES
File your complaint through the SEBI SCORES complaint portal.
This is the first formal step for raising a complaint against a SEBI-registered entity.
2. SMART ODR
Move to structured conciliation through the SMART ODR portal if SCORES does not resolve it.
The platform provides an online mechanism for resolving investor grievances.
3. Arbitration
Where conciliation still does not settle it, arbitration in stock exchange proceedings can lead to a binding, enforceable award.
This provides a formal dispute-resolution route for eligible investor claims.
If you want to know the full process in detail, check our guide on complaint against a SEBI-registered Research Analyst.
Paying monthly when a longer cycle costs less?
We total your invoices against the ₹1,51,000 ceiling, identify which specific cycle is causing the breach, and put the figure on record in a form the analyst has to respond to. Register with us for a free read on your situation.
Disclaimer
This page is based on Equity Prime Research’s own published material and the SEBI intermediary register, current as of September 2026, and alleges no wrongdoing since no SEBI order stands against the firm.
Registration details, pricing, and website content can change, so verify everything at source before acting. Treat this page as research, not legal or investment advice.
Conclusion
Pragati Chettri’s Equity Prime Research holds a genuine SEBI Research Analyst registration, INH000023490, active since September 2025, with a real complaint history limited to one resolved case.
The pricing page needs serious caution. Seven of fifteen billing cycles breach the SEBI fee ceiling, spanning every service the firm offers, and MCX breaches on all three of its cycles with no compliant option at all.
The firm’s own complaint tables also carry two separate presentation problems: an arithmetic error in the monthly total and annual data reported for a period before the registration existed.
Before subscribing, check whether a quarterly or half-yearly cycle brings your chosen service back under the ceiling, and ask the firm to reconcile its complaint disclosure in writing.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It is registered to Pragati Chettri, operating as Equity Prime Research, from 26 September 2025 and is perpetual. Confirm it directly on the SEBI register rather than relying on the website alone.
Stock Cash, Options, Index Options and Stock Future all breach on their monthly cycle. MCX breaches on all three cycles it offers, including half yearly. Choosing a quarterly or half yearly cycle on the four core services brings the cost back under the ceiling.
No. All three published MCX cycles, monthly, quarterly and half yearly, breach ₹1,51,000 once annualised, with half yearly still ₹19,000 over the limit.
The table's own total row does not correctly add up the figures above it, an arithmetic error confined to that table. The separate current complaint status table correctly shows 1 complaint received and resolved.
Not for genuine complaints against this registration. The registration became active in September 2025, so any data reported for FY2023-24 predates it and is worth raising directly with the firm.
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