Finclave Complaints: SEBI Data, Pricing, and How to File

Finclave complaints filed through SEBI’s official disclosure show a clean record on paper, five complaints received and five resolved in the most recent reporting year.

That number alone is not the most useful thing on this page.

Finclave’s own published pricing places its Yearly research plan at Rs 1,77,000, above SEBI’s Rs 1,51,000 annual fee cap for individual clients. That is the specific, checkable issue worth understanding before you subscribe or before you decide whether to file a complaint.

This page covers the complaint data, the pricing issue, and the exact steps to escalate if it applies to you.

What Do Finclave’s SEBI Complaint Numbers Show?

SEBI requires every Research Analyst to publicly disclose annual investor complaint data, and Finclave’s disclosure covers two reporting periods since its registration took effect. The table below shows both.

Year	Carried Forward	Received	Resolved	Pending
2025-26	0	5	5	0
2026-27	0	0	0	0

On the face of these numbers, this is a clean record. All five complaints in the first full reporting year were marked resolved, with nothing carried forward and nothing pending.

The caveat is that the registration itself is only about a year old at the time of this review. A low complaint volume over a short track record should be read as an early signal, not as proof of a mature, tested grievance process. Give the firm’s disclosure history more weight as further reporting periods accumulate.

Does the Absence of Public Reviews Mean Finclave Is Safe?

A search across Google, Trustpilot, JustDial, and MouthShut did not surface any reviews indexed specifically for Finclave, Finclave Consultancy Private Limited. The firm’s own Facebook page shows zero reviews as well.

This absence cuts both ways. It means there is no documented pattern of complaints from past clients on independent platforms. It also means there is no independent track record beyond the firm’s own SEBI complaint disclosure that an investor can lean on.

Treat the lack of reviews as an information gap to fill through your own direct diligence, such as asking Finclave for client references or a sample research report, rather than as either a red flag or a clean bill of health on its own.

For the firm’s registration details, its ownership structure, and its social media presence, the Finclave review page on this site covers all of that.

Is Finclave’s Pricing Above SEBI’s Fee Cap?

This is the single most concrete, checkable issue in Finclave’s current published material.

SEBI’s fee cap limits research services sold to individual and HUF clients to Rs 1,51,000 per client family per year, effective since January 2025 and enforced across both new and existing clients since June 2025.

Finclave’s own Yearly pricing plan is listed at Rs 1,77,000, covering daily research alerts, BankNifty and Nifty option recommendations, and weekly Sensex alerts. That is roughly 17 percent above the SEBI cap.

Because the plan is priced and described explicitly as a research subscription, rather than routed through a separately branded training or membership product, it sits squarely inside the category the fee cap was written to cover.

This is worth asking Finclave directly, in writing, before you pay. Request a clear explanation of how a Rs 1,77,000 individual research plan is consistent with SEBI’s Rs 1,51,000 cap. A firm operating within the rules should be able to answer that question without hesitation.

If you have already paid for this plan, the fee cap breach itself is a valid, specific ground for a formal complaint, separate from any dissatisfaction with the research quality.

How Do You File a Complaint Against Finclave?

If Finclave’s pricing, or any other issue, has not matched what SEBI permits, the path below takes you from your first written notice to a binding decision if it comes to that.

Each stage depends on the documentation you gather in the first step, so do not skip ahead before you have your evidence in order.

Step 1: Collect Your Evidence

Save your payment receipt for the plan you subscribed to, along with screenshots of the pricing page, the service agreement, and every WhatsApp, email, or call record tied to your account.

A fee cap complaint is only as strong as the proof that you paid the amount in question, so this step decides how the rest of the process goes.

Step 2: Raise It With Finclave Directly

Write to Finclave through its official contact channel, stating clearly what you paid, referencing SEBI’s Rs 1,51,000 per family cap, and asking for a written response.

Give the firm up to 21 days to respond, per SEBI’s grievance framework, and keep a copy of every message sent and received.

Step 3: File on SEBI SCORES

If the response is unsatisfactory or does not arrive, file a SEBI SCORES complaint using registration number INH000023010.

Select Research Analyst as the intermediary type, ensure your name and PAN match your KYC records, and attach your payment proof and pricing screenshots. Filing on SCORES is free.

Step 4: Escalate to SMART ODR

If SCORES does not resolve the matter, escalate to the SMART ODR platform for structured, neutral online mediation.

Confirm your SCORES complaint has genuinely concluded before filing on SMART ODR, since an active SMART ODR filing automatically closes it.

Step 5: Arbitration

If mediation does not resolve the dispute, formal arbitration through the empanelled exchange produces a binding decision.

An arbitration award carries the same legal weight as a civil court decree. For claims below Rs 10 lakh, the exchange bears the cost, so pursuing it costs you nothing.

If your complaint involves a different Research Analyst entirely, the same five step logic applies. The complaint against SEBI registered research analyst page on this site covers that broader process.

Paid Finclave’s Rs 1,77,000 yearly plan and want to know if you have a valid complaint?

We check your payment against SEBI’s fee cap rule, confirm the exact violation, and prepare your SCORES filing from start to finish. Register with us for a free consultation.

Conclusion

Finclave’s published SEBI complaint numbers look clean, but the registration is still under a year old, so that record deserves more time before it says much on its own.

The more useful finding here is arithmetic, not sentiment. Finclave’s own Rs 1,77,000 Yearly plan sits above SEBI’s Rs 1,51,000 fee cap, and that gap is checkable against the firm’s own published pricing page.

If you have paid for this plan, save your payment proof today, ask Finclave in writing how the pricing complies with the cap, and escalate through SCORES if the answer does not hold up.

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Frequently Asked Questions

1. How many SEBI complaints does Finclave have?

Finclave's SEBI disclosure shows 5 complaints received and 5 resolved in FY 2025-26, with none pending. The FY 2026-27 disclosure currently shows zero. The registration is under a year old, so this is a short track record.

2. Does Finclave have any public reviews?

No independent reviews for Finclave turned up on Google, Trustpilot, JustDial, or MouthShut, and its own Facebook page shows zero reviews. Treat this as an information gap rather than confirmation of safety.

3. Is Finclave's Rs 1,77,000 yearly plan legal under SEBI rules?

It appears to sit above SEBI's Rs 1,51,000 per client family annual fee cap for research services sold to individuals and HUFs. Ask Finclave directly, in writing, how the plan complies with the cap before paying.

4. What is SEBI's fee cap for research analysts?

SEBI caps fees for research services sold to individual and HUF clients at Rs 1,51,000 per client family per year, effective since January 2025 and enforced across new and existing clients since June 2025.

5. How do I file a complaint against Finclave if I was overcharged?

Save your payment proof and pricing screenshots, write to Finclave directly citing the fee cap, then escalate to SEBI SCORES using registration INH000023010 if unresolved, followed by SMART ODR and arbitration if needed.