Quick Summary
Fluid Fincap Private Limited holds SEBI investment adviser registration INA000018762, valid from 16 January 2024 and perpetual. Its disclosure shows four complaints received and resolved in FY 2025-26, all through SCORES. The latest figures we found run only to March 2026, and the website content we reviewed shows no fee plan. The firm lists an Investor Charter, MITC and grievance policy. We found no SEBI order against it as of 13 October 2026, which is not a clean certificate.
You may have met Fluid Fincap Private Limited through an app, an ad or a friend’s mention, and now want to know who is behind it.
A name alone says very little, so it helps to read what the regulator’s listing and the firm’s own pages actually show.
This blog goes through the registration, the complaint tables, the missing price and the gaps in service detail.
Use it as a checklist of questions to put to the firm in writing.
What Is Fluid Fincap Private Limited and What Does It Offer?
Fluid Fincap Private Limited is a company that gives investment advice to individual investors.
It describes itself as a SEBI registered investment adviser, also called an RIA.
Its pages say the advice is based on your risk profile and a suitability check.
To do that, the firm asks you to share your income, your existing investments and your liabilities.
That is the standard way a registered adviser should begin.
An adviser who does not ask about your finances before suggesting something cannot say it suits you.
What The Firm Says About Guarantees
The firm states that it does not guarantee returns, profits, accuracy or risk free investing.
That matches SEBI’s rule that advice must not promise or assure returns.
Read that line as a disclaimer and not as a description of results.
It tells you what the firm will not promise, and you can hold it to that in any later conversation.
Consent On Every Trade
The firm says you must give explicit consent for every trade, and that it cannot execute trades for you without it.
This matters because it separates an adviser from a portfolio manager.
An adviser suggests, and you decide.
If anyone from the firm ever offers to place trades on your behalf, ask how that fits with this statement.
Direct Plans And Conflicts Of Interest
The firm says it advises on direct, non commission based plans wherever they are available and that it discloses conflicts of interest.
For a mutual fund investor, direct plans usually cost less in yearly charges than regular plans.
It is a good promise to test.
Ask the firm to show you where, in a sample advice note, the plan type and any conflict are written.
What The Website Does Not Explain
The website content we reviewed does not clearly describe the specific advisory services on offer.
A reader cannot tell whether the service is a one time plan, a regular review or a model portfolio.
It also does not name the adviser’s qualifications, experience or background.
So you have a promise about how the firm works, but few details about who does the work.
Also Read: Moneycontrol Dot Com India Limited terms include a ₹1,000 liability cap and arbitration in Mumbai, details worth reading.
Is Fluid Fincap Private Limited SEBI Registered?
SEBI’s public listing, as reflected in our research, shows the firm as a registered investment adviser.
The points below are what the listing shows, and you should confirm them yourself before relying on this page.
- Registration number is INA000018762. The INA prefix marks an investment adviser, unlike INH for a research analyst or INP for a portfolio manager.
- Validity runs from 16 January 2024 and is listed as perpetual. So the registration is a little over two and a half years old as of October 2026.
- Address is in the Embassy Tech Square area of Kadubeesanahalli, Bengaluru 560103, and the correspondence address is the same.
- Contact person is listed as Aniket Shirke. The listed email address uses the domain liquide.life, which differs from the company name.
That is not a problem in itself, because firms often work under a brand name or alongside a partner.
Still, ask the firm whether you are paying Fluid Fincap Private Limited or another entity, and in whose name the invoice will come.
The firm also lists a BSE enlistment number, 2120. You can ask the firm to show the enlistment so you can match it with the registration.
You can run the check yourself in a few minutes.
A SEBI investment adviser registration number search lets you enter INA000018762 and compare the name, category and validity with what is described here.
A SEBI registered company search or a SEBI registered list on the regulator’s own pages does the same job.
Whichever you use, make sure the name on the payment page matches the registered name.
Registration shows that the entity is permitted to give investment advice.
It does not tell you how good the advice is or how complaints are handled.
Does Fluid Fincap Complaints Data Add Up?
Complaint tables show how many grievances reached the firm and what happened to them.
The firm publishes three views, and each is read below with the numbers added up again.
The first is the regulatory disclosure, which splits complaints by where they came from.
Read the columns as pending at the start, received, resolved, pending over three months and average resolution time.
|
Received from |
Pending | Received | Resolved | Pending over 3 months | Average resolution time |
|
Directly from investors |
0 | 0 | 0 | 0 | 0 |
|
SEBI SCORES |
0 | 4 | 4 | 0 |
0 |
| Other sources | 0 | 0 | 0 | 0 |
0 |
| Grand total as reported | 0 | 0 | 0 | 0 |
0 |
Adding the three source rows gives four received and four resolved. The grand total row, however, is shown as zero in every column.
That row does not match its own parts, so it looks like a reporting slip and not a count.
The average resolution time is also shown as zero for four resolved complaints, and the website does not explain it.
The second view is the monthly table. It lists twelve months from April 2025 to March 2026 and shows activity in only two of them.
|
Period |
Carried forward | Received | Resolved | Pending |
|
April to July 2025 (four months) |
0 | 0 | 0 | 0 |
|
August 2025 |
0 | 1 | 1 | 0 |
| September 2025 to February 2026 (six months) | 0 | 0 | 0 |
0 |
| March 2026 | 0 | 3 | 3 |
0 |
| Total across 12 months | 0 | 4 | 4 |
0 |
One complaint in August 2025 and three in March 2026 make four.
That equals the SCORES row above and the annual figure below, so the three views agree on the number.
The third view is the annual table. It lists FY 2021-22 to FY 2025-26 and shows complaints only in the last year.
|
Financial year |
Carried forward | Received | Resolved | Pending |
|
FY 2021-22 to FY 2024-25 (four years) |
0 | 0 | 0 |
0 |
| FY 2025-26 | 0 | 4 | 4 |
0 |
So the full picture is four complaints, all through SCORES, all shown as resolved, and none pending.
How to Read and Evaluate the March 2026 Figures
The research notes flag a mismatch between four SCORES complaints and three in March 2026.
There is no real clash, because the four cover the year and the monthly table spreads them over August and March.
The point that does stand out is the zero grand total.
It is the only line that disagrees with the rest, and it is worth asking the firm to correct it.
Three of four complaints arriving in one month is also worth a question.
You can ask whether they shared a cause, such as a charge, a delay or a communication, and what the firm changed afterwards.
Paid for advice and still waiting on a reply to your complaint?
Our team reviews your payment proof and the agreement, drafts a written grievance to the adviser, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
What the Tables Leave Unclear
The latest figures we found are dated 31 March 2026.
SEBI expects advisers to update complaint data by the 7th of each month, so by October 2026 several newer months should exist.
The firm may well have updated its pages since our review.
Check the current figures before you rely on these, because the website content we reviewed shows nothing after March.
The annual table also begins in FY 2021-22, which is before the registration became valid on 16 January 2024.
The website does not say whether those years relate to an earlier registration, a related entity or a reporting choice.
None of the tables describes what the complaints were about or how they ended.
All four came through the regulator’s SCORES SEBI complaint system, and none was reported directly by an investor to the firm, which is a pattern you may want to ask about.
Complaints that reach the regulator first can mean the investor did not get what they wanted from the firm.
They can also mean the investor simply chose the regulator’s route, and the tables cannot tell which.
In the sources we reviewed, we found no SEBI order against the firm as of 13 October 2026.
That is not a clean certificate, because orders can be published later and our search was limited.
Also Read: EquityPandit Financial Services has 18 complaints in the annual rows, but a grand total that says 17.
What Is Fluid Fincap’s Pricing, Is It Disclosed?
The website content we reviewed shows no advisory fees and no pricing plans.
A reader cannot tell what the service costs before engaging with the firm.
SEBI sets a ceiling on what an adviser can charge in fixed fee mode. The cap is ₹1,51,000 per client per family per year.
With no price displayed, you cannot see where the firm sits against that cap, and you cannot compare it with other registered advisers.
A Simple Way to Compare
Imagine, as a made up example, a plan quoted at ₹12,000 a year.
That is ₹1,000 a month, and it is the figure to hold against what you actually receive each month.
This is an illustration and not the firm’s price.
Its purpose is to show why you should ask for the number per year, per month and per service.
Items to Get in Writing
Before you pay anything, ask for these items in writing.
- The fee in rupees for each service and each period.
- Whether GST is added. A quoted ₹1,78,180 would equal the ₹1,51,000 cap plus 18 percent GST, so it would not breach the cap, but the GST treatment should still be confirmed.
- The refund terms if you leave mid term.
- The account name that receives your payment, which should match the registered company.
The last item is easy to skip. Check it before any transfer, especially because the email domain differs from the company name.
Fluid Fincap Website, Qualifications and Service Details
The research found that the website mainly carries regulatory material, such as the Investor Charter, the MITC and the grievance policy.
It gives little practical detail on the services or how an investor would benefit.
Regulatory pages are necessary, and the firm deserves credit for publishing them.
They answer the question of how the firm is governed, but not the question of what you are buying.
Here is what a reader may still want to see.
1. A Plain Description of Each Service
A line explaining what a client receives, how often and in what form would settle most doubt.
Without it, you are comparing a promise with nothing.
Ask for a sample advice note with your name and details removed. A good adviser should be able to share one.
2. The Adviser’s Background
The website does not give qualifications, experience or professional background.
Those details help you judge whether the person advising you has the skills for your kind of need.
Ask for the name of the person who will advise you and their registered role. You may also ask which certification they hold.
3. How Advice Reaches You
Ask whether advice comes through an app, email, calls or a mix.
The channel matters, because you want a written record of every suggestion you act on.
Also Read: JioBlackRock Investment Advisers says “Start small, pay less,” but has no clear advisory fee schedule on the pages reviewed.
What Does Fluid Fincap MITC, Investor Charter and Grievance Policy Tell?
The website provides links to the MITC, the Investor Charter, the Terms and Conditions and the Grievance Redressal Policy.
Having them online is a good sign, because these are the papers you will lean on if a disagreement arises.
Our research did not cover the full text of those documents, so we do not describe what they say.
Read them yourself and keep a copy dated before you pay.
The Investor Charter states that the firm aims to resolve grievances within 21 days of receipt.
You can use that as a yardstick for the replies you receive.
If the answer takes longer, note the dates. A dated email trail is the strongest record you can hold later.
SEBI rules expect the MITC and the client agreement to reach you before fees are paid.
If a payment dispute stays open after the firm has replied, the SMART ODR portal lets a neutral conciliator look at the papers with you, so keep the receipt and the replies together.
Questions to Ask Fluid Fincap Private Limited Before Paying
The gaps above can be turned into a short set of questions.
Send them by email so you have a written reply, and wait for the answers before any money moves.
1. Which entity do I pay, and what is the Liquide link?
The listed email uses the liquide.life domain. Ask whether Fluid Fincap Private Limited operates under a brand name or app, and which entity issues the invoice.
2. What is the full cost?
Request the fee in rupees, the GST treatment, the payment dates and the refund terms. If it is a fixed fee, compare it with the ₹1,51,000 cap.
3. What changed after the 2026 complaints?
Ask what the firm learned from the complaints it reported, especially the three in March 2026. An open answer shows how it treats feedback.
4. What are the latest complaint figures?
Ask for the figures from April to September 2026. Also ask why the grand total row shows zero when the rows above it add up to four.
5. How are disputes settled?
Ask whether the agreement sends disputes to arbitration. Reading up on arbitration in share market cases first helps you judge what such a clause would mean for you.
How Can Investors Contact Fluid Fincap Or Escalate A Complaint?
The SEBI listing shows an email address for the contact person, and the firm says investors can raise grievances directly or through SCORES. Use email and keep every reply.
The listing shows the same 14 digit number against both telephone and fax.
That does not look like a number you could dial, so confirm a working phone number with the firm before you rely on it.
State your name, client ID or payment reference, the issue and the outcome you want within a reasonable time.
A written grievance with dates is stronger than a call.
If the firm does not reply within the 21 days its charter mentions, or you disagree with its answer, you have routes beyond the firm.
Our guide on a SEBI complaint against investment advisor explains how such cases usually run from the first email to a formal filing.
Give the firm a fair window to respond before you escalate.
SEBI expects intermediaries to handle complaints in an orderly way, and your dated emails show you followed that sequence.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 13 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. We could not independently confirm the firm’s service scope, fee levels, any link with the liquide.life domain, the reasons behind its reported complaints, or the content of any agreement or policy beyond what the research showed.
Conclusion
Fluid Fincap Private Limited holds a SEBI investment adviser registration, and the four complaints it reports are shown as resolved.
The harder part is what the pages leave out, so your next step is to ask for it.
Before you pay, request the fee in rupees, the MITC, the client agreement and a clear description of what you will receive.
Ask for the complaint figures after March 2026 and for the reason behind the zero grand total.
Check the registration yourself, confirm a working contact number and match the payment account to the registered company name.
If the firm answers openly and promptly, you have a better basis to decide.
If a dispute arises later, file the grievance in writing first and use the escalation routes in order.
Keep your receipts, emails and screenshots in one folder.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The SEBI listing shows it as an investment adviser under registration INA000018762, valid from 16 January 2024 and listed as perpetual. Confirm the details on SEBI's website and match the name on any payment page before you pay.
The disclosure shows four complaints received and four resolved in FY 2025-26, all through SCORES. The monthly table places one in August 2025 and three in March 2026, with none pending.
The website content we reviewed showed no fees or pricing plans. Ask the firm to state the fee in rupees, GST treatment and refund terms in writing before you pay anything.
The Investor Charter states that the firm aims to resolve grievances within 21 days of receipt. Keep dated copies of your emails so you can check the reply time against that aim.
The SEBI listing shows an email on the liquide.life domain, while the company is Fluid Fincap Private Limited. We could not confirm the link, so ask the firm which entity you are paying.
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