Ever stumbled across a financial advisory service boldly promising “guaranteed returns” and felt that tug of temptation? You’re not alone. In India’s fast-moving and opportunity-rich securities market, such claims often sound too good to ignore. But what happens when those shiny promises fade, and investors are left staring at unexpected losses?
That’s exactly where this story begins.
In a recent and compelling case resolved through SEBI’s cutting-edge Online Dispute Resolution (ODR) platform, an investor we represented didn’t just seek justice, he found it, swiftly and decisively. What followed was a digital-first battle that ended in accountability and recovery.
In this blog, we take you behind the scenes of a real-world case study, where technology met regulation and fairness won, Yogesh Gupta vs. Insight Research. From misleading assurances to resolution at the click of a button, this is a story every investor should read before believing the next “guaranteed returns” pitch.
What Action Was Taken Against Insight Research?
The story unfolds in early 2024, when Yogesh Gupta, an individual investor, locked horns with Saweety Saharan, the proprietor of Insight Research, a SEBI-registered Research Analyst. What began as a routine investor–analyst relationship soon spiralled into a formal dispute, setting the stage for a regulatory showdown.
We standing firmly for the applicant and Mr. Aseem Juneja stepped in as the Authorised Representative and steered the case through every stage of the proceedings.
Adding a modern twist to the process, the matter wasn’t fought in a traditional courtroom. Instead, it was handled via Webnyay, an independent Online Dispute Resolution (ODR) platform empanelled by the National Securities Depositories Limited (NSDL), in line with SEBI’s Master Circular on ODR. This digital forum became the battleground where arguments were heard, documents were examined, and justice began to take shape—online, efficient, and regulator-backed.
In short, this was not just a dispute between two individuals, but a real-world example of how India’s securities ecosystem is embracing technology to resolve conflicts faster and smarter.
Violations Done by Insight Research
Mr. Gupta’s complaint wasn’t just about losing money; it was about how the money was lost. He raised several serious allegations against the Respondent:
- Misleading Practices: Representatives initially offered demo trades that generated minor profits (around Rs. 5,000) to build trust.
- Lack of Diligence: After paying a service fee of ₹56,000, Mr. Gupta incurred a substantial loss of ₹2,30,000. He attributed this to a lack of proper stop-loss or target guidance.
- Regulatory Breaches: The investor alleged violations of SEBI regulations, including misleading performance reports and conducting business primarily over WhatsApp, which lacks the transparency required for official investor dealings.
Insight Research, however, pushed back strongly. They pointed to their Research Recommendation Agreement, arguing that it clearly spells out that they cannot be held responsible for any losses suffered by clients. According to them, the allegations of “assured profits” simply don’t hold water.
The firm insisted that they never promise guaranteed returns, never make performance assurances, and never sell certainty in an inherently uncertain market. In short, their defence was clear: they provide research, not guarantees, and the final investment decision always rests with the client.
Conciliation Details
In many traditional legal battles, these two sides would have remained locked in a stalemate for years. However, this case reached a SUCCESSFUL status on March 13, 2025.
A key reason this case reached a successful outcome was the strong and strategic representation of the Applicant, and that’s where our role truly made the difference.
As the Authorised Representative, we stepped in to cut through the complexity of the allegations and ensure the investor’s voice was heard loud and clear. Instead of allowing the issues to be brushed aside as routine “market risk,” we meticulously laid out the evidence, point by point. From unauthorised demo trades to clear violations of SEBI’s transparency requirements, every lapse was documented and presented with precision.
Moreover, we helped Mr. Gupta move beyond the emotional distress of financial loss to focus on the unauthorized trading practices and violations of SEBI regulations.
Our involvement effectively levelled the playing field between an individual investor and a registered market entity. By framing the facts within the regulatory framework, we compelled the Respondent to confront the seriousness of the allegations and acknowledge the unethical trading practices at play. In doing so, we transformed a lone investor’s grievance into a compelling regulatory challenge, one that simply could not be ignored.
Final Verdict
- The Respondent agreed to refund the Applicant an amount of Rs. 50,000/-.
- This amount was paid in two instalments via UPI on March 3, 2025, and March 7, 2025.
- Upon receiving the full refund, the Applicant agreed to not to pursue any further complaints, court cases, or arbitration related to this matter, making the settlement full and final.
What You Can Learn From This Case?
The above case, offers a clear blueprint for how investors can push back against unethical practices. This case highlights a critical lesson: success often depends on documentation, regulatory awareness, and expert representation.
The inclusion of verified phone numbers, WhatsApp chat records, and communication trails played a decisive role in establishing the Respondent’s methods. These records transformed verbal promises into tangible evidence—something regulators and mediators rely on heavily.
Having an Authorised Representative ensured that SEBI regulations were applied correctly during the “attempts to resolve the matter.” While the Online Dispute Resolution (ODR) mechanism is designed to be investor-friendly, expert guidance can significantly improve how effectively a case is presented.
This successful conciliation proves that when technology, regulatory expertise, and fair-minded mediation come together, even complex financial disputes can reach a peaceful and successful resolution.
What You Can Do If You Face a Similar Issue
If you believe you’ve been misled by a trading platform, SEBI-RA, or financial advisor, take action early:
- Preserve All Evidence
Save chat messages, call records, emails, payment receipts, UPI details, and contracts. - Stop Further Payments
Avoid sending additional funds, even if pressured with recovery or profit promises. - Verify Registration Claims
Cross-check SEBI registration numbers on official SEBI portals. - Initiate Written Communication
Clearly request a resolution or refund via email or recorded messaging platforms. - Lodge a Complaint in SCORES
Register and draft your complaint along with all the proof. - Use SEBI’s ODR Mechanism
File a complaint through SEBIs Online Dispute Resolution Platform, if required.
Need Help
Reach out to us, our team provides end-to-end support during such disputes:
- Case assessment and evidence review
- Verification of SEBI registration and compliance gaps
- Drafting structured responses aligned with SEBI regulations
- Representation during ODR conciliation proceedings
- Strategic guidance to maximise refund and settlement outcomes
We focus on resolution, not escalation, ensuring the process remains efficient and compliant.
Conclusion
The ₹50,000 refund recovery is not just a win for one investor—it’s a reminder that informed action works. Modern investors don’t have to accept losses caused by misleading promises. With proper documentation, regulatory awareness, and expert support, even seemingly difficult disputes can be resolved.
If you’re facing a similar issue, you don’t have to navigate it alone. You can register with us, and we’ll help you take the right steps toward resolution—calmly, legally, and effectively.
