Quick Summary
Sumit Khare holds SEBI Research Analyst registration INH000013615, active since November 2023, based in Bhopal, Madhya Pradesh. Checked properly, his nine Standard tier plans breach the ₹1,51,000 SEBI limit on their monthly cycle, some by close to ₹90,000. His quarterly plans, and every Simply and Positional plan, actually stay under the limit. His site also has no Terms & Conditions, Privacy Policy, or Refund Policy page anywhere, and Google reviews describe recent, serious losses.
Sumit Khare holds SEBI Research Analyst registration INH000013615, active since 17 November 2023.
The registration itself is genuine. His pricing needs a careful, plan-by-plan check, because the specific breach here sits in a different place than it might first appear.
This page walks through the registration, the full pricing picture across all 26 plans, the missing policy pages, and what recent Google reviewers are actually saying.
Sumit Khare Research Analyst
Sumit Khare provides technical research across index options, stock options, stock futures, stock cash, and MCX commodities.
His stated approach centres on price action, candlestick patterns, support and resistance, moving averages, and multi-timeframe chart analysis.
Risk management is described as 5 to 10 percent capital allocation per position, with predefined stop-losses and defined risk-reward parameters.
Support runs through Telegram and WhatsApp, though no working link to the Telegram channel actually appears on the site.
None of this establishes wrongdoing on its own. What matters is whether the pricing and disclosures behind it actually hold up.
Is Sumit Khare SEBI Registered?
Yes, confirmed directly on his registration record.
| Detail | Information |
|---|---|
| Name | Sumit Khare |
| SEBI Registration Number | INH000013615 |
| Validity | 17 November 2023, Perpetual |
| Address | H No. 7 Sachidanand Nagar, Sector-B, Nizamuddin Road, Bhopal, Madhya Pradesh 462022 |
| Contact Person | Sumit Khare |
| Email Name | kharesumit856 |
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.
How Sumit Khare’s Pricing Holds Up Against SEBI’s Fee Cap?
He offers 26 plans across three tiers, Simply, Standard, and Positional, each covering the same set of market segments.
Checked across every plan, the real breach sits in one specific, easy-to-miss place.
SEBI allows a Research Analyst to charge at most ₹1,51,000 a year, per client family, and these prices are stated excluding GST.
A Correction Worth Making Clearly First
The pricing page’s own red flag description claims the ₹34,500 quarterly plans exceed the annual limit.
Checked properly, ₹34,500 times four comes to ₹1,38,000, which stays under the ₹1,51,000 ceiling.
None of his quarterly plans actually breach the limit.
The Real Problem Is the Standard Tier’s Monthly Cycle
All nine Standard tier plans, priced between ₹13,500 and ₹20,000 a month, breach the annual ceiling once renewed continuously.
| Standard Plan | Monthly Price | Annualised | Against the Limit |
|---|---|---|---|
| Stock Option | ₹19,000 | ₹2,28,000 | Over by ₹77,000 |
| Index Option | ₹19,000 | ₹2,28,000 | Over by ₹77,000 |
| Stock Cash | ₹19,000 | ₹2,28,000 | Over by ₹77,000 |
| Stock Future | ₹20,000 | ₹2,40,000 | Over by ₹89,000 |
| Index Future | ₹20,000 | ₹2,40,000 | Over by ₹89,000 |
| MCX Energy Option | ₹13,500 | ₹1,62,000 | Over by ₹11,000 |
| MCX Precious Metal | ₹19,000 | ₹2,28,000 | Over by ₹77,000 |
| MCX Base Metal | ₹19,000 | ₹2,28,000 | Over by ₹77,000 |
| MCX Energy | ₹16,500 | ₹1,98,000 | Over by ₹47,000 |
All nine Standard plans breach the limit on their monthly cycle. None of them breach on the quarterly cycle.
Every Simply and Positional plan, on both cycles offered, stays comfortably under the ceiling.
If you’re subscribed to a Standard tier plan billed monthly, switching to the quarterly cycle brings you back under the SEBI limit for the same plan.
Twenty-Six Plans, No Clear Difference Explained
Beyond the fee cap question, the pricing page lists 26 distinct plans without explaining what actually separates Simply, Standard, and Positional for the same market segment.
Ask Sumit Khare directly what the Standard tier includes that justifies roughly double the Simply tier’s price.
The pricing page also doesn’t state how many calls or alerts come with any plan, or through which channel they arrive.
Also Read: Skyline Financial Services plan costs ₹64,900 quarterly, which annualises to ₹2,59,600, substantially above the ₹1,51,000 ceiling.
What Does Sumit Khare’s Complaint Data Show?
His disclosure shows a light record, but with real gaps in how current it actually is.
| Period | Received | Resolved | Pending |
|---|---|---|---|
| 2023 (Nov-Dec) | 0 | 0 | 0 |
| 2024 (Jan-Dec) | 0 | 0 | 0 |
| 2025 (Jan-Dec) | 1 | 1 | 0 |
| June 2026 | 1 | 1 | 0 |
| Total | 2 | 2 | 0 |
Two complaints since registration, both resolved. That’s a genuinely light record, worth reading plainly.
The disclosure isn’t broken down month by month across the full registration period, and the most recent entry available is July 2026, with nothing published since.
What Do Google Reviewers Say About Sumit Khare?
His Google listing sits at 4.1 stars, and several recent reviews underneath that average describe serious, negative experiences.
One reviewer describes the analysis as consistently resulting in losses, naming both Sumit Khare and a second individual directly, and states the team lacks the knowledge the service claims to offer.
A second reviewer describes a loss of roughly ₹1 lakh and gives the firm the lowest possible rating.
A third reviewer describes the experience in strongly negative terms, calling it a waste of money and time.
We’re reporting only that these reviews exist and describe these experiences. We haven’t independently verified any of the specific claims, including the loss figures or the conduct of any named individual. No SEBI order confirms any of these accounts as of this writing.
If you believe you have direct, relevant knowledge here, the right step is a formal SEBI complaint, not further discussion in reviews.
What’s Missing From Sumit Khare’s Website?
Three documents that a paying client would normally expect to find aren’t published anywhere on the site.
There’s no Terms & Conditions page, no Privacy Policy, and no Refund Policy.
Without these, you have no published record of your rights around cancellation, refunds, or how your personal data is handled once you subscribe.
Get all three confirmed in writing directly from Sumit Khare before you pay anything.
SEBI’s rules still entitle you to a proportionate refund for the unexpired period on early termination, regardless of whether the firm has published its own policy stating so.
What’s Behind Sumit Khare’s Claims, and Why They Need a Closer Look?
The homepage promotes “Disciplined Equity Research & Stock Advisory” and “high-conviction technical analysis,” language built around confidence rather than a description of methodology.
It claims “100% Transparency” and “Zero manipulation, zero fake statistics,” absolute statements that are difficult for any service to actually guarantee.
The About page describes ambitions to become a “trusted, benchmark Individual Research Analyst firm” with a “client capital protection focus,” self-promotional positioning without figures behind it.
The site also says its research aims to “minimize drawdown risk” and help traders focus on “sustainable capital growth over time,” adding further performance-oriented language to its marketing.
Also Read: Sudip Brahmachary has a Telegram post that prominently celebrates a “100+ POINTS” upside move, while the review found unsuccessful calls were not given comparable visibility.
How To File a Complaint Against Sumit Khare?
Given the specific findings above, particularly the Standard tier breach and the missing policy pages, a complaint here has firmer ground than a dispute over research quality alone.
Write to RA’s email ID directly, describing exactly what you were told, what you paid, and what you want resolved.
If that doesn’t resolve things, here’s where the matter goes next.
- File your complaint on the SEBI SCORES complaint portal.
- If SCORES alone doesn’t settle it, the SMART ODR registration platform brings in a neutral party next.
- Where that still doesn’t resolve things, Share Market Arbitration produces a binding decision.
For the full walkthrough of every stage, our guide to a complaint against SEBI registered research analyst covers the entire process in order.
Paying monthly for a Standard plan that costs less on a quarterly cycle?
We’ll work out your real yearly cost and help you put your case on record properly. Register with us for a free look at your situation.
Disclaimer
Everything above comes from Sumit Khare’s own published material and public reviews, reported but not independently verified.
Nothing here accuses him of wrongdoing, and no SEBI order currently stands against him.
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 Khare’s SEBI registration, INH000013615, is genuine and active since November 2023.
His nine Standard tier plans breach the SEBI fee cap on their monthly cycle, not the quarterly cycle the pricing page itself incorrectly flagged.
His site is also missing basic policy pages, and recent Google reviews describe serious, unverified losses.
Switch to a quarterly cycle if you’re on a Standard plan billed monthly, and get the missing policies confirmed in writing before paying anything further.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes, held by Sumit Khare since November 2023, confirmed directly on his registration record.
No. Checked properly, every quarterly plan stays under the ₹1,51,000 limit. The breach sits specifically in the Standard tier's monthly cycle instead.
All nine Standard tier plans, billed monthly, breach it. Every Simply and Positional plan, on both cycles, stays compliant.
No. There's no Terms & Conditions, Privacy Policy, or Refund Policy page published anywhere on the site.
No. They're accounts from individual public reviews. No SEBI order or other regulatory finding confirms the specific claims as of this writing.
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