You searched for Pranali Prasad Choughule, and you probably did so because someone contacted you on behalf of Dealwisepro, or you came across the firm online and wanted to verify who actually runs it.
That is exactly the right question to ask.
In this blog, we tell you who Pranali Prasad Choughule is, whether the registration is legitimate, what complaint data reveal, and what you can do if your experience with the firm did not match what you expected.
Who Is Pranali Prasad Choughule?
Pranali Prasad Choughule is the proprietor of Dealwisepro Research Analyst, a Maharashtra-based sole proprietorship firm.
The firm operates from Unit No. 304, Rupa Solitaire Building, Millennium Business Park Road, Navi Mumbai, Thane, Maharashtra, 400710.
Pranali Prasad Choughule runs the firm as a one-person entity, meaning all regulatory accountability rests solely with her as the registered proprietor.
Dealwisepro primarily offers stock market research alerts in the Nifty and BankNifty options segment, delivered exclusively through WhatsApp broadcast messages.
Is Pranali Prasad Choughule SEBI Registered?
Yes, Pranali Prasad Choughule holds a valid SEBI registration as a Research Analyst.
SEBI granted her the registration number INH000013846 on December 1, 2023.
However, SEBI registration confirms compliance at the point of registration; it does not validate how the firm operates on the ground thereafter.
That registration answers one question. But it does not answer the more important one: is Pranali Prasad Choughule’s firm genuinely safe to trust?
Is Pranali Prasad Choughule Genuine?
To answer this fairly, we go through what the firm does right, what raises concern, and what the official complaint data shows.
1. The Firm Maintains Required Disclosures
Dealwisepro’s disclosure page correctly states that SEBI registration does not guarantee performance or assure any returns.
The firm also maintains a functional website with an investor charter, escalation matrix, grievance redressal process, and a SMART ODR link, all mandatory under SEBI’s Research Analyst Regulations.
2. The Consent Document Restricts Your Right to Complain
Dealwisepro requires users to pre-declare that they profited on demo calls and decided to subscribe independently.
The same document then requires users to agree that they “cannot and will not file any legal complaint or legal notice against the Dealwisepro Firm.”
This clause attempts to waive an investor’s statutory right to file a grievance, a right guaranteed under SEBI regulations that no private contract can override.
Such clauses carry no legal enforceability under SEBI’s investor protection framework.
3. Demo Calls as a Sales Tool Raise Regulatory Questions
The firm offers demo calls to prospective subscribers before they pay.
SEBI’s Research Analyst Regulations prohibit offering free trials or complimentary research services as a tool to attract paying clients.
The use of curated demo calls to demonstrate profitability and then asking investors to pre-declare they profited on those calls raises serious questions about compliance with this prohibition.
4. Pricing and the SEBI Fee Cap
SEBI mandates a fee ceiling of ₹1,51,000 per annum per family of clients for individual and HUF clients who are not accredited investors, a rule confirmed and reinforced through SEBI’s January 2025 guidelines.
Dealwisepro charges ₹75,000 per month for its Silver package and ₹1,77,000 per month for its Platinum package.
5. The Complaint Data Tells a Concerning Story
Dealwisepro’s own complaint disclosure data records a cumulative total of 55 formal investor complaints between its registration date and its regulatory filing in February 2025, including 13 in a single month.
This is a significant number for a one-person firm.
One of those complaints went all the way to formal arbitration. Here is what happened.
Arbitration Case Against Pranali Prasad Choughule
Our team assisted an investor from West Bengal to file an arbitration against Dealwisepro.
The investor had paid ₹84,000 in fees and suffered trading losses after being repeatedly pressured to invest more, with false assurances of loss recovery.
Key violations identified:
- Representatives assured loss recovery and guaranteed returns, violating SEBI’s Research Analyst Regulations.
- Trading advice included specific quantity sizes, which is beyond a Research Analyst’s permitted scope.
- A fee of ₹84,000 was charged for a single month without any prior written disclosure of the fee structure.
SEBI Penalty on Dealwisepro Research Analyst
The Sole Arbitrator passed an award directing Dealwisepro to refund ₹59,000 to the investor within 15 days.
Did Dealwisepro make similar promises to you?
It is important to know what a Research Analyst is actually allowed to do, so you do not blame yourself for losses that were not your fault.
As the arbitration above shows, taking the right steps can work in your favour, and we will walk you through exactly how to do that in the sections ahead.
What to Know Before Trusting Any Research Analyst?
SEBI registration means the individual met the minimum threshold to operate, nothing more.
Thousands of investors across India pay registered RAs and still suffer losses due to conduct that crosses regulatory lines.
Before you trust any Research Analyst, registered or not, know what they are legally prohibited from doing.
A SEBI-registered Research Analyst cannot:
- Guarantee returns, profits, or fixed income of any nature, verbal or written.
- Execute trades on your behalf or access your Demat account.
- Manage your investment portfolio.
- Collect funds from you for investment purposes.
- Offer free trials or demo calls to attract paying subscribers.
- Deliver services through Telegram, Instagram, or any unverified platform.
- Ask for payment in cash or to any personal bank account.
- Include clauses in agreements that waive your statutory right to file a complaint.
Now that you know what a Research Analyst is not allowed to do, let us jump to the actionable section on how to actually fight back if you have faced any of these violations.
How to Raise a Complaint Against a Research Analyst?
If your experience with Dealwisepro did not match what Pranali Prasad Choughule’s firm communicated before you paid, here is how to formally escalate it through official channels.
Step 1: Build Your Evidence File
Start by collecting everything: WhatsApp messages, call recordings, payment receipts, and bank transaction screenshots.
Note down every promise made before you subscribed, the exact amounts paid, and a clear timeline of what happened after.
Strong documentation is what separates a complaint that gets taken seriously from one that gets dismissed.
Step 2: Write to the Firm First
Send a formal written complaint to Dealwisepro’s official compliance contact, clearly stating your grievance and the specific conduct you experienced.
SEBI mandates that registered Research Analysts resolve investor complaints within 30 days of receipt.
If the firm does not respond within that window, or the response fails to address your grievance, you have clear grounds to escalate.
Step 3: File a Complaint in SEBI SCORES
SEBI SCORES is the official investor grievance portal for complaints against SEBI-registered intermediaries.
Search for Dealwisepro Research Analyst, describe your grievance in detail, and upload all supporting documents.
Step 4: Escalate to SMART ODR
If SCORES does not deliver a satisfactory outcome, move your complaint to SEBI’s SMART ODR platform.
SMART ODR handles structured conciliation for securities market disputes; it is free, fully online, and location-independent.
Dealwisepro itself lists the SMART ODR link on its official website, making this a formally acknowledged escalation pathway.
Step 5: Pursue Arbitration in Stock Market
If conciliation on SMART ODR does not resolve the matter, initiate formal arbitration through the same platform.
SMART ODR arbitration carries full legal force; courts enforce the arbitrator’s award.
Need Help?
Did you subscribe to Dealwisepro based on what Pranali Prasad Choughule’s representatives promised, and now find yourself at a loss with no clarity about their agreements on filing a complaint?
We have helped investors in exactly this situation.
Here is what we do: We will help you assess your case, build your evidence, and file your complaint on SEBI SCORES, all the way through SMART ODR and arbitration if needed.
We will also track your complaint status and help you respond to every SEBI query at every stage.
Take the first step today. Reach out to us. You do not have to navigate this alone.
Conclusion
Pranali Prasad Choughule runs a legitimate, SEBI-registered entity with functional compliance portals.
However, the operational reality on the ground is characterised by a high volume of historical complaints (55 filed by early 2025).
Pricing tiers that clash with SEBI’s individual annual caps, and legally unenforceable clauses attempting to restrict your right to complain, require extreme vigilance.
As our West Bengal arbitration case proves, you do not have to accept unauthorised practices or capital losses quietly. By pursuing formal legal channels, the Sole Arbitrator passed an award forcing Dealwisepro to refund ₹59,000 to the client.
A SEBI license is a baseline requirement to operate; it is not a shield against accountability.
Use the steps above, and reach out to us if you need support at any stage.
Frequently Asked Questions
1. Can Dealwisepro or any other SEBI-registered Research Analyst legally guarantee profits or offer “assured return” schemes?
No. It is strictly illegal under SEBI regulations. SEBI explicitly prohibits Research Analysts (RAs) from offering any guaranteed, fixed, or assured returns.
2. Can Pranali Prasad Choughule’s firm legally deliver research services only through WhatsApp?
SEBI does not prohibit WhatsApp as a delivery channel, but the absence of a structured audit trail means investors must manually save every alert and communication as evidence in case of a dispute.
3. Can Dealwisepro’s consent document prevent me from filing a complaint against Pranali Prasad Choughule?
No, SEBI regulations guarantee every investor the right to file a grievance, and no private consent clause can override that statutory right.
4. Are demo call profits a reliable indicator of Dealwisepro’s actual service performance?
No, demo calls are curated sales tools, and SEBI prohibits using free trials to attract paying subscribers, making demo-based profit claims unreliable as a performance benchmark.
5. Where can I check official dealwisepro complaints before subscribing?
You can check filed grievances directly on the SEBI SCORES portal.
Keeping an eye on user-reported Dealwisepro complaints across public forums will help you assess the true performance track record of the proprietor before onboarding.
