Quick Summary
The formal complaint path against Moneyplant Research runs through five stages. Internal written complaint to the firm first, then SEBI SCORES under Research Analyst registration INH000020615, then SMART ODR conciliation, then exchange arbitration if needed. Valid complaint grounds include: loss recovery promises (SEBI explicitly prohibits these), pro-rata refund refused for unused subscription (SEBI mandates this regardless of firm policy), fees paid above Rs 1,51,000 annually (the regulatory ceiling), and misleading representations at the point of sale. Every stage is free. For claims below Rs 10 lakh, arbitration costs you nothing.
Moneyplant Research has 13 recorded SEBI complaints across six consecutive financial years.
Every one shows as resolved. But resolved means the firm responded within a deadline. It does not mean every investor who filed was satisfied.
If you are reading this because your own experience with Moneyplant Research involved loss recovery promises, forced upgrades after losses, a refund refused for unused subscription days, or any promise made before payment that was not honoured after, this page covers the complete formal complaint path from your first written contact to binding arbitration if it comes to that.
What Qualifies as a Valid Complaint Against Moneyplant Research?
Not every bad outcome is a complaint. Five specific situations give you regulatory standing to file.
Each maps to a named SEBI rule, which is exactly what a SCORES officer looks for.
The full context of what eight reviewers described sits on the Moneyplant Research reviews page.
- Loss recovery promise: If any representative told you that future calls would recover money you had already lost, that is an explicit prohibition under SEBI Research Analyst Regulations. No RA can guarantee that future recommendations will recover past losses. The promise itself is the violation.
- Pro rata refund refused: If you cancelled a subscription before it expired and were refused a refund for the unused portion, that refusal conflicts with SEBI’s mandatory pro rata refund rule. The Absolutely No Refunds clause on the firm’s Terms page does not override a SEBI regulation.
- Fees above Rs 1,51,000 in one financial year: SEBI caps the combined annual fee from one registered Research Analyst at Rs 1,51,000 per client family. If your total annual payments across all plans crossed that figure, the excess is recoverable.
- Misleading representation before payment: If commitments were made during the sales call about service quality, accuracy, or what the subscription would deliver, and those were not honoured after payment, that is a ground under Regulation 18 of SEBI’s Research Analyst Regulations.
- Upgrade pressure after losses: If you were pushed into a costlier plan while already losing money on the current one, that conflicts with SEBI’s requirement that a Research Analyst act in the client’s best interest.
How to Complaint Against Moneyplant Research in India?
Once you know your situation qualifies, the filing process runs through five defined stages.
Each stage builds on the evidence and documentation produced by the one before it.
Skipping a stage weakens everything that follows, so work through them in order.
Step 1: Collect Your Evidence Before Contacting Anyone
Everything that follows depends on what you gather right now, before you send a single message to the firm.
A complaint built on memory alone rarely holds up; one built on saved records almost always does.
This step happens before any contact with the firm. Everything collected now is what your case rests on at every subsequent stage.
Save every WhatsApp, Telegram, and email message from any Moneyplant Research representative. Note the exact words used in any recovery promise with the date and medium.
Save all payment receipts, bank transfer records, and UPI screenshots for every subscription payment. Add up your total payments in the financial year and compare against Rs 1,51,000.
If you requested a refund and received no response, save that written request and document the absence of any reply.
Save every recommendation you received with the date it was shared and what actually happened in the market following it.
Write a one-page chronological summary of events with dates and amounts at each step.
Step 2: Write to Moneyplant Research Formally
SEBI requires investors to attempt internal resolution before escalating. This step creates the paper trail SEBI will ask about when you file on SCORES.
Send your complaint to the firm’s official business email, not the personal Gmail address ([email protected]) that appears in the site header. Use the official registered business contact for all formal communications.
State what you paid, on which dates, for which plans. State what was described before you subscribed. State what you actually received. State the specific resolution you are seeking. If requesting a refund, cite SEBI’s mandatory pro-rata refund rule directly.
Give the firm 21 days to respond. If no satisfactory written response arrives, move to Step 3 immediately.
Step 3: File on SEBI SCORES
Select Research Analyst as the intermediary type. Enter INH000020615 as the registration number.
In the complaint description, name the specific violation. For loss recovery promises, cite the SEBI RA Regulations prohibition on assured outcome claims.
For refund refusal, cite SEBI’s mandatory pro-rata refund rule and the December 2024 amendment. For fee cap breach, state your calculated total and that it exceeds Rs 1,51,000 for the financial year.
Attach your payment records, written refund request, recommendation screenshots, and the internal complaint you sent in Step 2.
Filing a SEBI SCORES complaint is completely free. Moneyplant Research has 21 days to respond formally after SEBI forwards the complaint.
Step 4: SMART ODR
If SCORES does not produce a satisfactory outcome, SMART ODR is the next stage.
Do not file on SMART ODR while your SCORES complaint is still active. Filing on SMART ODR automatically disposes the SCORES complaint. Confirm SCORES has genuinely concluded before moving here.
An independent conciliator is assigned. Both you and Moneyplant Research must participate. The conciliator reviews documented facts from both sides and works toward a settlement.
Step 5: Exchange Arbitration
If SMART ODR conciliation fails, stock market arbitration produces a binding award enforceable as a civil court decree under the Arbitration and Conciliation Act 1996.
For claims below Rs 10 lakh, the exchange bears the arbitration cost. You pay nothing.
Arbitration panels expect to see the documented trail from every earlier stage. A complaint that went through internal contact, then SCORES, then SMART ODR arrives at arbitration with the strongest possible foundation.
Unsure whether your documentation is strong enough, or which specific violation applies to your situation?
We review your case, identify every applicable SEBI violation, draft the SCORES complaint, and represent you through SMART ODR and arbitration.
Conclusion
Moneyplant Research holds valid SEBI registrations. The formal complaint mechanism exists specifically because registration does not guarantee conduct.
Loss recovery promises, forced upgrade pressure after losses, refunds refused against SEBI’s mandatory rule, and fees above the annual cap are all named SEBI violations with a clear complaint path behind them.
Collect your evidence. Write formally. Follow the sequence.
Every stage completed correctly makes the next one stronger.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Select Research Analyst as the intermediary type and enter INH000020615. That is the Research Analyst registration. Do not use the Investment Adviser registration INA000007924 unless your complaint relates specifically to Investment Adviser services rather than research recommendations.
No. SEBI Research Analyst Regulations mandate a pro rata refund for the unused portion of any subscription on early exit. The Terms of Use state Absolutely No Refunds and Cancellations, but a company policy cannot override a SEBI regulation.
Give 21 days from the date of your written complaint. If no satisfactory reply arrives, file immediately on SEBI SCORES under INH000020615. Non response to a formal internal complaint is itself grounds for escalation and strengthens your filing.
Yes. SEBI caps the annual fee from one registered Research Analyst at Rs 1,51,000 per client family. If your combined payments across any plans crossed that in one financial year, the excess is recoverable. Calculate it from your receipts.
SEBI complaints carry a limitation period of three years from the date the issue occurred. Do not wait. WhatsApp records and bank statements are not preserved indefinitely, and a thin evidence file weakens every stage that follows.
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