Quick Summary
Sumit Vyas runs Skyline Financial Services, SEBI Research Analyst registration INH000028370, valid from June 2026. The site claims the firm was established in 2018. Its own complaint tables show 12 complaints in FY2024-25 and 8 in FY2025-26, a total of 20, spread across two full financial years that both ended before this registration existed. Several pricing plans also breach the ₹1,51,000 SEBI limit once annualised.
Sumit Vyas holds SEBI Research Analyst registration INH000028370, valid from 22 June 2026, and runs Skyline Financial Services.
That registration is barely a few months old.
What’s published alongside it tells a very different story about how long this firm has actually been operating.
This page walks through the registration, that specific timeline problem, the pricing, and the promotional claims worth a closer look.
Skyline Financial Services Review
Skyline Financial Services describes itself as established in 2018, offering research and trading-related services across equity cash, stock options, index options, futures, and commodities.
Its stated methodology combines fundamental and technical analysis, quantitative modelling, and AI-based analysis, scanning 2,000+ stocks daily with algorithmic signals and real-time alerts.
Sumit Vyas is named as Founder and Principal Research Analyst, with 15+ years of technical trading experience and NISM Series XV certification.
The site claims 3,000+ clients onboarded, 4,500+ research reports, and 30+ expert analysts.
None of this establishes wrongdoing on its own.
What matters is whether the timeline actually adds up, and that’s the sharpest problem on this page.
Is Skyline Financial Services SEBI Registered?
Yes, per the registration record, though this one needs a closer look at the date specifically.
| Detail | Information |
|---|---|
| Name | Sumit Vyas, Proprietor of Skyline Financial Services |
| SEBI Registration Number | INH000028370 |
| Validity | 22 June 2026, Perpetual |
| Address | 13, Shantipath Road, Near Shiksha Mandal, Sabnish Bag, Indore, Madhya Pradesh 452007 |
| Contact Person | Sumit Vyas |
| sumitvyas2506 |
An INH number means Research Analyst. It permits publishing research to a general subscriber base.
It doesn’t permit personalised advice built around one client’s own finances, trade execution, or portfolio management.
One name-related point is worth knowing.
A completely separate, long-established company also called Skyline Financial Services Pvt Ltd operates as a SEBI-registered Registrar & Transfer Agent in Delhi.
It has no connection to Sumit Vyas’s Indore-based research business.
If you’re searching to verify this firm, make sure you’re checking registration INH000028370 specifically, not a similarly named company.
Why Do the Complaint Tables Show Activity From Before This Registration Existed?
This is the single most serious finding on this page, so let’s walk through it carefully.
The SEBI registration behind this firm, INH000028370, has been valid only since 22 June 2026.
The firm’s own annual complaint table, published on the same site, shows this instead.
| Financial Year | Received | Resolved | Pending |
|---|---|---|---|
| FY2024-25 | 12 | 12 | 0 |
| FY2025-26 | 8 | 8 | 0 |
| Total | 20 | 20 | 0 |
FY2024-25 ended in March 2025, and FY2025-26 ended in March 2026, both well before this registration became valid in June 2026.
Twenty complaints, spanning two complete financial years, are attributed to a registration that didn’t exist for either of those years.
There are a few possible explanations. The firm may have operated research services before formally obtaining this specific registration.
The complaint data might belong to a different, earlier registration or business structure that isn’t clearly explained on the site.
Or the table itself may simply be a template that was never updated with the correct years.
None of these possibilities can be confirmed from the site alone.
Before subscribing, ask Sumit Vyas directly to explain what these 20 complaints relate to, and whether they concern this specific registration or an earlier version of the business.
The monthly complaint disclosure adds to the confusion.
It only runs through June 2026 at the latest, meaning there’s no complaint data shown for any month since this registration actually became valid.
Also Read: The Vision Research complaint page says 4 complaints were received in February 2026, but the detailed monthly table places them in a different month.
Does Skyline Financial Services’ Pricing Breach the SEBI Fee Cap?
Several plans here breach the limit once you check the annual cost properly.
SEBI allows a Research Analyst to charge at most ₹1,51,000 a year, per client family.
The Published Price List
| Plan | Weekly | Quarterly | Half-Yearly |
|---|---|---|---|
| Sky Cash Pack | ₹3,000 | ₹42,480 | ₹82,600 |
| Sky Stock Option Pack | ₹3,000 | ₹42,480 | ₹82,600 |
| Sky Index Option Pack | ₹3,000 | ₹42,480 | ₹82,600 |
| Sky Future Pack | ₹4,720 | ₹64,900 | ₹1,25,080 |
| Sky MCX Pack | ₹3,540 | ₹44,545 | ₹89,090 |
| Sky AI Prime Pack | ₹16,520 | ₹1,47,500 | Not stated |
Multiple Plans Breach the Limit on the Quarterly Cycle Alone
Sky Cash Pack, at ₹42,480 a quarter, annualises to ₹1,69,920, over the limit by ₹18,920.
Sky Future Pack, the sharpest example, annualises to ₹2,59,600 on its quarterly cycle, over by more than ₹1,08,000.
Additionally, Sky AI Prime Pack’s quarterly price alone, ₹1,47,500, sits just under the full annual limit for a single quarter.
Renewed even once more within the year, the total would clear the ceiling immediately.
If you’re on any weekly plan, the numbers get worse still.
Sky Future Pack billed weekly comes to roughly ₹2,45,000 a year, and Sky AI Prime Pack weekly comes to well over ₹8,00,000 a year.
Work out your real annual cost on whichever plan and cycle you’re actually billed on, and compare it to ₹1,51,000 directly.
Does Skyline Financial Services’ Marketing Language Go Beyond Its Registration?
The homepage prominently displays a “Weekly Accuracy Index 89.4%” alongside a live buy recommendation, without explaining how that figure is calculated or over what sample size.
It separately claims “Signal Accuracy 94.8% Verified Feed” and “94.8% AI Confidence,” precise-sounding numbers with no supporting methodology shown.
The Index Option Pack is marketed with “Capital Protection Strategies,” language that can suggest protection from losses despite the real risk inherent in options trading.
The About page states plainly, “We don’t guess; we calculate,” and claims its practices meet the “highest regulatory frameworks,” without naming which framework or how that claim was assessed.
The AI Prime Pack also bundles “Premium Execution Support” and “Personalized Portfolio Hedging.” A Research Analyst registration doesn’t extend to trade execution or personalised portfolio management.
Ask directly whether these specific features stay within what INH000028370 actually permits.
Also Read: Sungrow Research website uses unverified “Descent Returns” and “beat index returns,” claims alongside “safest and most secure investment guidance.”
How to File a Complaint Against Sumit Vyas?
Given the timeline discrepancy in the complaint data and the pricing that breaches the limit, a complaint here has firmer ground than a dispute over research quality alone.
Write to the RA’s email ID directly, asking him to explain the 20 complaints attributed to years before this registration existed.
If that doesn’t resolve the matter, there are several formal channels you can use to take the complaint further.
- Start by filing your complaint through the SEBI SCORES complaint portal and clearly explain the issue, the relevant transactions, and the resolution you are seeking.
- If the matter remains unresolved through SCORES, you can move to the SMART ODR registration platform for structured online dispute resolution.
- If the dispute still isn’t resolved, Share Market Arbitration provides the next formal route, where the matter can be considered through the applicable arbitration process.
For a step-by-step explanation of what to do, what documents you may need, and how each stage works, read our complete guide on complaint against SEBI registered research analyst.
Confused about complaint records that predate the registration itself?
We help you get a straight, written explanation and put your case on record properly if the answer doesn’t add up. Register with us for a free look at your situation.
Disclaimer
Everything above comes from Skyline Financial Services’ own published material.
Nothing here accuses the firm of wrongdoing, and no SEBI order currently stands against it.
Confirm every detail yourself before acting on it. This page is meant to help you ask better questions, not to replace a lawyer or a financial adviser.
Conclusion
Sumit Vyas’s Skyline Financial Services holds SEBI registration INH000028370, valid only since June 2026, yet its own complaint tables record 20 complaints across two financial years that both ended before that registration existed.
Several pricing plans also breach the ₹1,51,000 annual limit, some by significant margins, and the AI Prime Pack bundles features that may sit outside what a Research Analyst registration actually permits.
Ask directly what the older complaint data relates to, and work out your real annual cost before subscribing to anything.
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Frequently Asked Questions
It's listed on the firm's own registration record, valid from 22 June 2026. Confirm it directly on SEBI's own published Research Analyst list before proceeding.
The site doesn't explain this. FY2024-25 and FY2025-26 both ended before June 2026, so the 20 complaints shown can't have occurred under this specific registration as it currently stands.
No. That's a separate, unrelated, long-established Delhi-based company. This registration belongs to Sumit Vyas's Indore-based research business.
Sky Cash Pack and Sky Future Pack both breach it on the quarterly cycle alone, and several plans breach it further on the weekly cycle.
It bundles execution support and personalised portfolio hedging language, which may extend beyond a standard research registration. Ask the firm directly how these features stay within scope.
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