Supreme Investrade and Research Services has been penalized by SEBI for making false promises, offering assured returns, and committing multiple regulatory violations.
If you are a victim who lost money by falling for these fake promises, navigating the recovery process can be complicated, but you have legal rights. Here is exactly what you need to consider next.
Supreme Investrade Complaints
Many investors wonder, is Supreme Investrade SEBI-registered?
The clear answer is yes.
Supreme Investrade and Research Services, operating under proprietor Abhishek Singh, is a SEBI-registered research analyst firm with registration number INH000008747.
For Supreme Investrade, complaints would fall under SEBI’s Research Analyst complaint framework, which would include:
Supreme Investrade BSE Arbitration Case Summary: Investor vs. Advisory Firm
In a recent BSE arbitration case, an investor challenged a registered advisory firm over alleged false promises, pressure-based advice, and financial losses.
The dispute reveals how disclaimers, communication gaps, and advisory influence can significantly impact retail traders.
Let’s take a look at the case filed by Mr Mukul Singh against the Supreme Investrade and Research Services.
Mr. Mukul Singh paid Supreme Investrade and Research Services a total of ₹70,000 for trading tips.
The firm, he claimed, promised profits and pressured him to stay in a losing trade, which ultimately cost him an extra ₹25,000 on top of his initial acceptable loss.
The firm denied everything, pointing to a standard disclaimer that stated all fees were non-refundable and all market risks were the client’s responsibility.
Investor’s Complaints (Mukul’s Side)
- Paid ₹70,000 in three payments for research and tip services.
- The firm promised profits and showed past performance records to gain trust.
- Wanted to exit the trade at a loss of ₹15,000 to limit damage.
- The firm’s representative told him to wait, promising a recovery.
- The loss increased to ₹40,000 because he did not exit when he wanted to.
- The firm pressured him to arrange more capital.
- Received a link to the trading app late, after trades were already placed on his behalf.
- Alleged violations of SEBI rules on guaranteed returns and conflict of interest.
Firm’s Defence (Supreme Investrade’s Side)
- The investor signed a detailed User Consent Form before receiving services.
- The form clearly stated:
- Fees are non-refundable under any condition.
- No guaranteed profits or fixed returns are offered.
- All market risks are borne by the client.
- Offered ₹15,000 as a goodwill gesture to settle the dispute, without accepting fault.
- Denied all allegations of pressure, guarantees, or delayed service.
Key Evidence Considered
- User Consent Form signed by the investor with a clear no-refund and risk disclaimer.
- Payment receipts for ₹70,000.
- Audio clips and WhatsApp chats submitted by the investor.
- The arbitrator noted the audio contained phrases like “ho sakta hai” (it may happen), which do not legally constitute a guarantee.
- Proof that the investor wanted to exit at a loss of ₹ 15,000 but was advised to wait.
The Final Award Decision
- Refund of Fees (₹70,000): Not Granted.
Reason: The investor signed a binding agreement accepting that fees are non-refundable. - Compensation for Trading Loss (₹40,000): Partially Granted.
Reason: The firm’s specific advice not to exit the trade caused an extra loss of ₹25,000, which is compensable. - Total Award: ₹25,000 to be paid by the firm to the investor within 15 days.
Looking at these legal battles, it’s natural to wonder: is Supreme Investrade safe?
While an arbitration award shows that the system can hold firms accountable, the fact that an investor had to go to court just to recover a basic trading loss is a massive warning sign.
This leads us directly into the broader regulatory picture.
Why This Case Matters to Retail Traders?
- Read Before You Sign: Disclaimers about “no refunds” and “no guarantees” are legally binding if clearly presented and agreed to.
- Your Exit Decision is Key: An advisor should not prevent you from exiting a trade to cut losses. You have the final say.
- Document Everything: Keep clear records of all promises, advice, and communications.
Supreme Investrade SEBI Orders
SEBI’s adjudication against Supreme Investrade exposes how misleading promises, capital inducements, and unauthorised trading guidance can violate investor protection norms.
This case highlights the growing regulatory scrutiny on research analysts and the consequences of non-compliant advisory practices.
Key Allegations by SEBI
The Noticee (Supreme Investrade) was accused of:
1. Misleading Clients with Assured Profits
- Sharing screenshots of profits earned by previous clients to show assured returns.
- Example: In the case of “Axxx,” a representative said, “Aap bhi isi Tarah se profit earn kar sakte ho… Aur who bhi daily basis pe…” (You can also earn profit like this… and that too daily).
2. Inducing Clients to Add More Capital
- Persuading clients to infuse more capital even after they incurred losses.
- Promising to recover losses through subsequent tips.
- Example: In the case of “Axxxxxxx Pxxxxx Sxxxx Jxxxxx,” the firm asked the client to arrange more capital for trading.
3. Handholding and Unauthorised Advice
- Providing exact timing for entry and exit beyond the research alerts.
- Example: In the case of “Jxxxxxxx Sxxxx Rxxxx,” messages like “jaldi buy karo… maximum quantity buy karo” (buy quickly… buy maximum quantity) were sent.
The WhatsApp screenshots show the firm’s representative sharing profit images of other clients and telling the investor that they, too, can earn similar profits daily.
This exchange was viewed by SEBI as an assurance of guaranteed returns, making the firm’s defence unacceptable.
SEBI’s Findings and Conclusions
The Adjudicating Officer rejected the firm’s arguments and found the following:
1. Evidence of Misleading Conduct
- WhatsApp chats clearly showed representatives promising profits and recovery of losses.
2. Inducing Additional Capital
- The firm admitted to asking clients to add capital so they could trade.
- This was seen as an inducement, especially when clients were already at a loss.
3. Unauthorized Trading Advice by Supreme Investrade Research Analyst
- Messages directing clients on when and how much to trade went beyond research alerts.
- This constituted mis-selling and unfair trade practices, leading many affected investors to label the operation a Supreme Investrade fraud.
4. Violations Upheld
- The Noticee violated:
- PFUTP Regulations (fraudulent/unfair practices)
- SEBI Act (manipulative/deceptive devices)
- Research Analyst Code of Conduct (honesty, diligence, compliance, senior management responsibility)
Penalty Imposed
- Penalty Amount: ₹5,00,000 (Five Lakh Rupees)
Reason: Failure to comply with SEBI regulations and directions - Consequence of Non-Payment: Recovery proceedings, including attachment of properties
Why This Case Matters to Retail Traders?
- Be Wary of Profit Screenshots: Past performance sharing can be a red flag for misleading promises.
- Read All Documents: Signing disclaimers may limit refunds, but fraudulent advice is still punishable.
- Report Suspicious Behaviour: SEBI takes action on complaints, even if some are resolved informally.
If you are still wondering whether Supreme Investrade is real or fake, the better approach is to focus on the warning signs, disclosures, and regulatory history rather than relying on marketing claims alone.
How to File a Complaint Against Supreme Investrade?
If you are facing issues with Supreme Investrade or any other research analyst firm, you do not have to navigate the technicalities alone.
Our team specializes in helping investors structure their complaints correctly to maximize the chances of recovery.
How We Can Assist You?
- Expert guidance to file a SEBI SCORES complaint
- Assistance in drafting effective complaint letters
- Help in compiling and organising supporting documents
- Representation throughout the complaint resolution process
Register with us for Support. Don’t navigate this complex process alone. Our experienced team understands SEBI regulations, complaint procedures, and investor rights.
We work to ensure your complaint is properly documented, filed, and pursued until resolution.
Conclusion
Supreme Investrade and Research Services is a SEBI-registered research analyst firm that provides trading recommendations in the equity and options segments of the Indian stock market.
While the firm is properly registered, investors must know that a recent SEBI adjudication order was issued against them in December 2024.
So, what does this mean for you, the potential investor?
A SEBI registration is the bare minimum, not an endorsement of performance or a shield from regulatory issues. Investors should carefully evaluate their needs, understand the risks involved, and verify all credentials before engaging with any research advisory service.
Remember that investment decisions should be based on personal financial goals, risk appetite, and thorough research rather than solely on third-party recommendations.
Stay informed, stay vigilant, and invest wisely!
Frequently Asked Questions
1. Is Supreme Investrade SEBI registered?
Yes. Supreme Investrade and Research Services is registered under SEBI as a research analyst with registration number INH000008747 under proprietor Abhishek Singh.
2. Has SEBI taken any action against Supreme Investrade?
Yes. SEBI issued an adjudication order imposing a ₹5,00,000 penalty on Supreme Investrade for misleading clients with profit assurances, pressuring them to add capital, and providing unauthorised trade timing advice, all violations of SEBI’s PFUTP Regulations.
3. Can I get a refund from Supreme Investrade if I lost money?
It depends on the case. In a BSE arbitration case, the fee refund was denied on the grounds of the signed consent form, but ₹25,000 was awarded for direct loss caused by the firm’s bad advice. You may still be eligible for partial recovery if you have enough proof and follow a structured process.
4. What should I do if Supreme Investrade pressures me to stay in a losing trade?
Document all WhatsApp chats, call recordings, and payment receipts. File a complaint on SEBI SCORES. An advisor overriding your exit decision is a clear SEBI violation and can support an arbitration or complaint case.
5. What are the warning signs of a fraudulent investment advisory firm?
Key red flags include: guaranteed profit promises, showing screenshots of other clients’ profits, pressuring you to add more capital after a loss, delaying app access after trades are already placed, and discouraging you from exiting a losing trade.
