Quick Summary
Arunima Rai is the owner of SV Stock Research and holds SEBI Research Analyst registration INH000011909 personally as an individual. She is also listed as the firm’s compliance officer and its grievance officer simultaneously. Three regulatory roles held by one person has specific implications for investors. This page covers what each role means, why the combination matters if something goes wrong, and how to name the right party in a formal complaint.
Most investors check whether a research firm is SEBI registered and move on.
Fewer ask who specifically holds the registration, what other regulatory roles that person carries, and what it means when one individual is accountable for everything at once.
For SV Stock Research, that person is Arunima Rai. She is the proprietor. She is also listed as the compliance officer. And she is listed as the grievance officer.
Three roles. One person.
That combination is worth understanding before you pay, and worth knowing if you need to file a complaint.
Who Is the Owner of SV Stock Research?
Arunima Rai is the registered proprietor of SV Stock Research.
She holds SEBI Research Analyst registration number INH000011909 personally as an individual, not through a company.
Individual registration means the licence belongs to her personally. There is no corporate entity between her and her regulatory obligations.
Every recommendation published under INH000011909, every mandatory disclosure, and every investor complaint received through the firm is her direct responsibility.
The firm is based in Maharashtra and offers index options research across two subscription plans.
The full picture of the firm itself, from registration and pricing to the complaint spike, sits on our complete overview of SV Stock Research.
What Does the Triple Role Mean Practically?
Now the part that makes this page worth reading before you subscribe.
Arunima Rai appears in SV Stock Research’s regulatory disclosures in three separate capacities, and each one carries a different job.
- As the proprietor, she owns and operates the firm.
- As the compliance officer, she is responsible for the firm meeting all of SEBI’s requirements, from timely disclosures to fee cap compliance and marketing code adherence.
- As the grievance officer, she is the designated contact for investor complaints before SEBI SCORES gets involved.
In a larger firm, these three functions would sit with different individuals.
The compliance officer would be independent of daily operations, and the grievance officer would have no conflict of interest in reviewing complaints against the firm’s own services.
When one person holds all three, the practical implication is simple.
If you raise a grievance with SV Stock Research, the person reviewing your complaint is the same person responsible for the conduct you are complaining about.
This does not automatically mean complaints go unaddressed.
The firm’s own disclosure shows 14 complaints received and all 14 resolved, and that resolution record is real.
What it does mean is that the internal grievance step has a structural limitation.
The independence SEBI’s grievance framework assumes between a complaint handler and the firm’s operations does not exist here the way it would at a larger, separately staffed entity.
How Do You Name the Right Party in a Complaint?
Here is where the individual registration turns from a curiosity into something that works in your favour.
Because the registration is in Arunima Rai’s personal name rather than a company’s, naming the correct party in a formal complaint is straightforward.
Select Research Analyst as the intermediary type. Enter SV Stock Research as the firm name.
Enter INH000011909 as the registration number.
And in the complaint description, name Arunima Rai directly as the proprietor, compliance officer, and grievance officer, since all three roles rest with her personally.
There is no corporate layer to point to as a separate entity. No other director or key managerial person to route through. The registration and the person are the same.
That directness shortens the line of accountability in a formal proceeding, and a shorter, clearer line is exactly what an investor wants when a case moves forward.
What Does Registration Confirm About Arunima Rai, and What Does It Not?
A SEBI registration tells you something real, and it is worth being precise about how much.
The register confirms that Arunima Rai holds registration INH000011909, that it is active, and that she met SEBI’s eligibility requirements at the time of registration, covering minimum net worth, NISM certification, and a fit and proper declaration.
What the register does not confirm is her professional background before registration, any track record of recommendations made under it, or any independent verification of her market experience beyond the certification requirement.
Her name appears on the firm’s website in disclosures and regulatory documents.
No About section, no founder bio, and no independently verifiable professional history appears on the firm’s own website.
For investors assessing the professional standing of the person whose recommendations they would be paying for, the publicly available information ends at what SEBI’s register shows.
Paid a one person firm and now that one person has stopped replying?
We will take the case past the desk that went silent: the SCORES filing named correctly across all three roles, the documentation SEBI’s process demands, and representation through SMART ODR and arbitration.
What Does the Complaint Data Say About This Registration Holder?
The firm’s own disclosure carries the numbers, and read against the triple role, they say something specific.
SV Stock Research’s disclosure shows one complaint in FY 2024-25 and 13 complaints in FY 2025-26, all 14 reported as resolved.
Since Arunima Rai is simultaneously the proprietor and the grievance officer, those 14 complaints represent grievances raised to and resolved by the same person responsible for the firm’s operations.
The 13-fold increase in a single year is visible in the disclosure.
The reasons behind it are not, because SEBI’s complaint reporting asks only for numbers, never explanations.
Whether the spike reflects a growing subscriber base, service delivery gaps, or another pattern cannot be determined from public data.
What can be determined is that 13 investors in one financial year felt their experience warranted a formal complaint.
What Should You Do If You Have a Dispute With This Firm?
If your experience did not match what the website described and the internal grievance process produced nothing satisfactory, SEBI SCORES is the correct next step.
File against SV Stock Research under registration INH000011909, name Arunima Rai in the description across all three roles, and attach your payment records, the marketing material you relied on, and every communication from the firm.
The complete stage-by-stage route, from SCORES through SMART ODR to arbitration, with the evidence to collect and what counts as a valid complaint ground against this firm, sits on our analysis of SV Stock Research fake or real.
And if you want to see what at least one investor has already said publicly about the firm’s advice and support, the single available account is examined on our page on SV Stock Research company reviews.
Conclusion
Arunima Rai is the owner of SV Stock Research, holding SEBI registration INH000011909 personally and carrying three regulatory roles at once: the proprietor, the compliance officer, and the grievance officer.
Individual registration makes the accountability direct. The complaint naming is clear, and no corporate layer sits in between.
What the triple role means for you is that the independence SEBI’s framework assumes between a complaint handler and the firm’s operations does not exist here the way it would at a separately staffed entity.
That is not a violation in itself. It is a structural fact worth knowing, before you subscribe, and before you decide whether to escalate past the internal stage.
Report. Recover. Stay Fraud Free.
Arunima Rai is the registered proprietor of SV Stock Research. She holds SEBI Research Analyst registration INH000011909 personally as an individual rather than through a company, which makes her directly responsible for the firm's regulatory conduct. She is simultaneously the proprietor, the compliance officer, and the grievance officer. All three regulatory roles rest with one person, which means the firm's owner, its rule keeper, and its complaint handler are the same individual. Neither inherently, but it removes complexity. Your complaint targets the person who holds the licence and carries direct responsibility for the firm's conduct, with no corporate structure to route through and no separate compliance department to address. Select Research Analyst as the intermediary type, enter registration number INH000011909, and name Arunima Rai in the complaint description as the proprietor, compliance officer, and grievance officer, so the complaint attributes to the individual holding all regulatory responsibility. Yes. If the internal process produces no satisfactory response within 21 days, file on SEBI SCORES. Since the grievance officer is also the proprietor, an unresolved internal complaint can itself be cited in the filing as evidence of grievance redressal failure.Frequently Asked Questions
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