Quick Summary
Vyom Research LLP is a SEBI-registered Research Analyst firm based in Surat, run by two co-founders, Kuldeep Butani and Jenish Butani, under registration INH000018221. The firm discloses no pricing anywhere on its website, runs a Telegram channel with over 100,000 subscribers posting direct Nifty and Bank Nifty calls, and one of its own promotional claims (“1000+ Valued Clients”) contradicts another stat elsewhere on the same site (“680+ valued clients”). A SCORES complaint from August 2026 remains unresolved. This blog covers the firm, its registration, its Telegram presence, its pricing gap, and its full complaint history.
A firm that won’t tell you its prices until after you’ve already reached out is asking you to trust it before you’ve seen the actual terms.
Vyom Research does that. It also runs a 100,000-plus subscriber Telegram channel that most of its own marketing never mentions.
This review covers who actually runs the firm, what its registration confirms, what that Telegram channel is doing, and where the pricing and complaint picture gets murky.
Vyom Research
Vyom Research LLP is a non-individual SEBI-registered Research Analyst based in Surat, Gujarat, offering fundamental and technical market research.
Its stated offerings include in-depth market research reports and sector-specific insights, described as data-driven and supported by human analysis.
The firm says it serves a broad client base, retail investors, traders, HNIs, corporates, family offices, institutional investors, funds, AIFs, and portfolio managers.
It highlights risk management, timely market updates, comprehensive reports, and analytical tools as part of its approach.
The firm claims 680+ valued clients, 69+ reports generated, and 1,424+ research hours, across clients from more than seven market sectors.
Beyond the website, Vyom Research maintains a presence on Facebook, X, LinkedIn, Instagram, and YouTube.
Vyom Research Owner
The firm’s registered contact person is Kuldeep Butani. That’s only half the picture.
Vyom Research is actually run by two co-founders, not one. Kuldeep Butani holds the Managing Director role, while Jenish Butani serves as Founder and Managing Director alongside him.
Both names appear as designated partners on the firm’s official LLP registration, incorporated April 28, 2024, under LLPIN ACG-8778.
Knowing both names matters if you’re trying to understand who’s actually accountable for the firm’s conduct, since the public-facing registration lists only one of them.
Is Vyom Research SEBI Registered?
Yes. Vyom Research LLP holds SEBI Research Analyst registration INH000018221, with perpetual validity from August 6, 2024.
The registered address is Shop No. 238, 2nd Floor, Sky View, Sarthana, Surat, Gujarat, 395006.
Independently, the firm’s own site also confirms BSE Enlistment Number 6364, LLP IN ACG-8778, and GST registration 24AAYFV4090K1ZE.
Before paying any firm claiming SEBI registration, it’s worth checking the registration directly through the SEBI website.
Vyom Research Telegram Channel
Vyom Research’s own website lists five social channels: Facebook, X, LinkedIn, Instagram, and YouTube. One channel it doesn’t mention anywhere is Telegram.
A Telegram channel titled “Nifty and Banknifty call (SEBI REGISTERED)” explicitly identifies itself as part of Vyom Research LLP, citing the same CIN and the same registration number, INH000018221.
That channel has over 100,729 subscribers.
Weigh that figure against the firm’s own stated client base of 680+ valued clients.
The subscriber count on Telegram runs well over a hundred times larger than the client number the firm advertises elsewhere.
That gap doesn’t confirm anything improper on its own.
It does raise a real question worth asking directly: how many of those 100,000-plus subscribers are actual paying clients, and how many are simply following a free channel that delivers direct Nifty and Bank Nifty calls, content that should carry the same disclosure standards as any formal research output.
Not sure whether a Telegram call you received from a firm like this actually complies with SEBI’s rules?
We check the specific claim against what’s permitted and tell you plainly where you stand. Register with us for a free consultation.
Services Offered by Vyom Research LLP and Pricing Details
No pricing is disclosed anywhere on the Vyom Research website.
The site describes its research services and lists a product basket for subscription, but doesn’t display fees for any individual service or plan.
This creates a real transparency problem.
A prospective client has to contact the firm directly just to learn what anything costs, which makes it genuinely difficult to compare Vyom Research’s pricing against any other firm before committing to a conversation.
What Do Vyom Research’s Complaint Records Reveal?
SEBI requires monthly complaint disclosure, and Vyom Research’s own published numbers are worth reading in full.
The current-month breakdown for August 2026 shows 1 complaint received through SEBI’s SCORES platform, with that complaint still pending at month-end. Zero complaints came directly from investors or any other source.
August 2026 Complaint Source Breakdown
| Complaint Source | Pending Last Month | Received | Resolved | Total Pending |
|---|---|---|---|---|
| Directly from Investors | 0 | 0 | 0 | 0 |
| SEBI (SCORES) | 0 | 1 | 0 | 1 |
| Other Sources | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 1 | 0 | 1 |
Monthly Trend (September 2025 to August 2026)
| Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| September 2025 | 0 | 0 | 0 | 0 |
| October 2025 | 0 | 0 | 0 | 0 |
| November 2025 | 0 | 1 | 1 | 0 |
| December 2025 | 0 | 0 | 0 | 0 |
| January 2026 | 0 | 0 | 0 | 0 |
| February 2026 | 0 | 0 | 0 | 0 |
| March 2026 | 0 | 0 | 0 | 0 |
| April 2026 | 0 | 0 | 0 | 0 |
| May 2026 | 0 | 0 | 0 | 0 |
| June 2026 | 0 | 0 | 0 | 0 |
| July 2026 | 0 | 0 | 0 | 0 |
| August 2026 | 0 | 1 | 0 | 1 |
Two complaints in total: one resolved in November 2025, one still pending from August 2026.
The annual trend confirms the same shape: 0 complaints in FY2024-25, 1 complaint in FY2025-26 (resolved), and 1 complaint already in FY2026-27 (still pending).
That August 2026 complaint matters specifically because it reached SEBI’s SCORES platform directly, meaning it moved past Vyom Research’s own grievance process to the external regulatory mechanism, and was still unresolved at month-end.
The firm states it aims to resolve complaints within 21 calendar days.
Whether this specific complaint meets that window is worth tracking directly, since it’s the one open item sitting against an otherwise clean disclosure record.
Do Vyom Research’s Promotional Claims Raise Questions?
Vyom Research’s marketing language deserves a closer look, especially where it contradicts the firm’s own stated numbers.
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Conflicting Client Count Claims
The firm’s promotional section states “1000+ Valued Clients.” Elsewhere on the same site, in its stats section, Vyom Research states “680+ valued clients.”
These are two different numbers describing the same firm, on the same website. That’s a genuine inconsistency worth asking Vyom Research to clarify directly, rather than taking either figure at face value.
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Broad Growth and Compliance Claims
The site also states “10x Growth in Client Engagement,” “100% Compliance with SEBI Guidelines,” and “10+ Institutional & Corporate Clients.”
Phrases like “expert financial strategies” and “actionable insights” build promotional expectations around the usefulness of the firm’s research, while calls to action like “Ready to elevate your investment strategy?” and “Invest Smarter” push well past simply describing a research service.
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Broken Social Media Links
The Facebook and Instagram links listed on the website do not work, making those profiles inaccessible through the site itself, even though they’re presented as active communication channels.
What Do Vyom Research’s Privacy Policy and Terms Reveal?
Beyond pricing and marketing, Vyom Research’s own policy documents carry gaps worth knowing before you share any personal or financial information.
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No Specific Data-Retention Period
The Privacy Policy explains what personal and financial information may be collected, but doesn’t specify how long that information will actually be kept.
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Broad Third-Party Sharing
The policy permits sharing information with payment processors and IT service providers, without identifying which categories of service providers are involved or how such third parties actually handle the data.
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No Clear Data-Breach Notification Process
The privacy policy mentions security measures but doesn’t explain the procedure or timeline for notifying users if a data breach actually occurs.
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Marketing and Tracking Language
The policy states that cookies and similar technologies may be used to understand user behaviour and deliver relevant content, but gives limited detail about which specific tracking technologies or third parties are actually involved.
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No Specific Terms Governing Research Services
The Terms of Use primarily regulate website usage and don’t clearly set out key terms applicable to the firm’s paid research services, subscriptions, or how recommendations are actually delivered.
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Broad Accuracy Disclaimer
The terms state the firm does not guarantee the accuracy, completeness, or timeliness of website information, which leaves limited clarity on what standard actually applies to research-related content.
How to File a Complaint Against Vyom Research?
If your experience with Vyom Research differs from what was communicated, whether concerning undisclosed pricing, Telegram recommendations, or a pending SCORES complaint, you can follow a structured escalation process.
Start by keeping a complete record of your interaction, including payment receipts, any pricing information shared by the firm, screenshots of Telegram calls, and relevant correspondence.
It is advisable to first raise the matter directly with Vyom Research and allow the firm reasonable time to respond.
If the matter remains unresolved, you can submit a SCORES SEBI complaint using registration number INH000018221.
If the issue is still unresolved, you can proceed through the SMART ODR complaint portal for further dispute resolution.
Where mediation does not resolve the matter, share market arbitration provides a further avenue for formal dispute resolution.
For a step-by-step explanation of the process, refer to our guide on complaints against SEBI-registered research analysts.
Conclusion
Vyom Research LLP’s core registration is genuine. INH000018221 is real, active, and held by a firm run jointly by Kuldeep Butani and Jenish Butani.
What doesn’t sit as cleanly is everything around it. No pricing appears anywhere on the website. A 100,000-plus subscriber Telegram channel delivers direct trading calls without being mentioned in the firm’s own social media list.
One stated client count contradicts another on the same site. And a SCORES complaint from August 2026 sat unresolved at month-end.
None of this proves deliberate wrongdoing on its own. Together, it’s a pattern worth asking Vyom Research to clarify directly before you commit to any subscription.
Report. Recover. Stay Fraud Free.
Legal Disclaimer
This blog is based on Vyom Research LLP’s own published materials and independently verified SEBI and corporate records. No SEBI action has been issued against Vyom Research LLP, Kuldeep Butani, or Jenish Butani as of date of writing, and we make no independent claims about the firm’s legitimacy beyond what these sources confirm.
Frequently Asked Questions
Yes. Registration number INH000018221, held by Vyom Research LLP, is confirmed active, with perpetual validity from August 6, 2024.
Two co-founders, Kuldeep Butani and Jenish Butani, both listed as designated partners on the firm's official LLP registration, though the public-facing contact details name only Kuldeep Butani.
That's unclear, and worth asking the firm directly. The channel identifies itself using the same registration number and CIN as the firm's website, but isn't listed among the five social channels the site itself names.
The firm's promotional section claims "1000+ Valued Clients," while its own stats section separately states "680+ valued clients." That inconsistency hasn't been explained anywhere on the site.
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