Quick Summary
Pawandeep Singh Pabla operates Laurel Financial Services, a SEBI-registered Research Analyst carrying INH000023904, active since November 2025 and based in Indore, Madhya Pradesh. The firm’s official website lists a Basic Plan and a Premium Plan that both breach the ₹1,51,000 annual SEBI fee ceiling once annualised, well beyond the single pricing mismatch flagged in the material behind this page. A third-party checkout page linked from the site charges ₹1,78,000 for a three-month subscription, more than the entire annual ceiling in a single quarter. The address on the SEBI register does not match the address on the firm’s own website, and its complaint disclosure has not been updated in roughly ten months.
Pawandeep Singh Pabla operates Laurel Financial Services, a SEBI-registered Research Analyst with registration INH000023904, based in Indore, Madhya Pradesh.
The registration is genuine. The pricing page is where the real problem sits, and it is broader than a single mismatch between two platforms.
Two of the firm’s three official plans breach the SEBI fee ceiling when annualised, and a third-party checkout page linked from the site charges more for three months than SEBI permits for an entire year.
This page works through the registration, the full pricing picture across both the official site and the linked third-party platform, the complaint disclosure, and the marketing language worth a second look.
Pawandeep Singh Pabla Review
Laurel Financial Services describes itself as a market research firm providing stock market research, market analysis, and investment insights, offering personalised research and financial strategies based on a client’s financial goals, risk appetite, portfolio, and investment requirements.
The firm states it follows a structured approach covering consultation, planning, investment and ongoing portfolio monitoring, with timely updates and strategic adjustments, describing its approach as research-driven, client-centric, transparent and focused on disciplined risk management.
None of this establishes wrongdoing, and nothing further on this page does either.
Where a registered analyst’s conduct does cross a line, the formal escalation route is covered in full further down this page.
Is Pawandeep Singh Pabla SEBI Registered?
Yes, and INH000023904 is confirmed on SEBI’s own published Research Analyst list.
| Detail | Information |
| Name | Pawandeep Singh Pabla, Proprietor of Laurel Financial Services |
| SEBI Registration Number | INH000023904 |
| BSE Enlistment No. | 6921 |
| Validity | 28 November 2025, Perpetual |
| Registered Address | 48/6, Pipliya Rao, Indore, Madhya Pradesh 452001 |
| Correspondence Address | Same as registered address |
| Contact Person | Pawandeep Pabla |
| Email Name | pm17pawandeeps |
What the INH Prefix Permits
The INH prefix marks a Research Analyst. It permits publishing research and issuing recommendations to a subscriber base.
It does not permit personalised advice built around an individual client’s income, goals or holdings, trade execution, or portfolio management.
Address On The Website Does Not Match The SEBI Register
The firm’s live website displays its address as 1-B/2, Brageshwari Tower, Near Navlakha, Indore, a different location from the registered address at 48/6, Pipliya Rao.
Both are in Indore, but they are not the same building.
If you are sending anything formal, use the address on the SEBI intermediary register, since that is the one the regulator recognises, rather than the one currently shown on the site.
Laurel Financial Services Pricing and the ₹1,51,000 SEBI Fee Cap
This is the most serious finding on this page, and it runs through two separate problems: what the official site itself charges, and what a linked third-party platform charges instead.
A Research Analyst may charge a maximum of ₹1,51,000 per annum per family, excluding GST, for individual and HUF clients who are not accredited investors.
The Official Pricing, Annualised
| Plan | Stated Price | Stated Cycle | Annualised | Against the Cap |
|---|---|---|---|---|
| Basic Plan | ₹25,000 | Monthly | ₹3,00,000 | Over by ₹1,49,000 |
| Premium Plan | ₹80,000 | Quarterly | ₹3,20,000 | Over by ₹1,69,000 |
| HNI Plan | ₹1,51,000 | Yearly | ₹1,51,000 | At the exact limit |
Two of the firm’s three official plans breach the ceiling severely once annualised, each by close to double the permitted amount.
Only the HNI Plan, priced at exactly ₹1,51,000 for a full year, sits within the limit, and it sits precisely at the edge rather than comfortably under it.
The Third-Party Checkout Tells A Different Story Again
Clicking through to subscribe to the HNI Plan redirects to a third-party payment platform, Cosmofeed/SuperProfile, rather than completing the transaction on the firm’s own site.
On that platform, the offering is described not as a yearly plan but as a three-month subscription, priced at ₹1,78,000, alongside a separate “Registration” charge of ₹29,400.
A three-month price of ₹1,78,000 already exceeds the entire annual ceiling before any renewal is even considered.
This is a more direct breach than the annualised monthly and quarterly figures above, since it does not depend on projecting a price forward across a year.
The stated three-month period on the third-party platform also does not match the yearly duration displayed for the same plan on the official website.
Three Different Prices, Two Different Platforms, One Plan
Between the official site’s ₹1,51,000 yearly listing, the third-party platform’s ₹1,78,000 three-month charge, and the separate ₹29,400 registration fee, a prospective client cannot currently determine the actual price, duration, or total cost of the HNI Plan from the information published across the firm’s own channels.
Before paying anything toward this plan, get the exact price, duration, and platform confirmed in writing directly from the firm.
One protection applies regardless of which figure ends up applying.
On early termination, a client is entitled to a proportionate refund for the unexpired period, and a Research Analyst may not retain a breakage fee.
What Does Laurel Financial Services’ Complaint Data Show?
The complaint record here is minimal, and one detail about its timing is worth noting alongside the disclosure’s staleness.
Monthly Complaint Data
| Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| March 2025 through October 2025 | 0 | 0 | 0 | 0 |
| November 2025 | 0 | 1 | 1 | 0 |
| Total | 0 | 1 | 0 | 1 |
One complaint total, received and marked resolved in November 2025, the same month the registration itself became active on 28 November.
Whether this complaint arrived before or after the registration date cannot be determined from the monthly figure alone, but a complaint appearing in the very first month of operation, whenever exactly it landed, is close enough to the start of the firm’s history to be worth asking about directly.
The disclosure does not explain what the complaint concerned.
The site states its complaint status section was updated in September 2026, but the actual monthly record only extends through November or December 2025, roughly ten months earlier.
No complaint data has been published for any month of 2026, well past SEBI’s requirement that this data be refreshed by the 7th of every month.
What Marketing Language on the Website Needs a Closer Look?
A few items on the site are worth reading closely, both for what they claim and for a scope question they raise.
1. An Educational Disclaimer Sitting Against Paid Research Services
The site’s Terms and Conditions state that all information is for educational and informational purposes only, with investors solely responsible for their own decisions.
The same website sells paid research plans and intraday trading signals.
The terms do not clearly distinguish between general educational content and the specific paid service a subscriber is actually buying.
2. Customer And Retention Figures With No Supporting Basis
The homepage displays “1000+ Happy Customers” and a “98% Client Retention Rate,” with no explanation of how either figure was calculated or over what period.
Given that the registration itself is less than a year old, a stated customer base and retention rate are worth asking the firm to substantiate directly.
3. “Wealth Management” Language On A Research Analyst Site
The About section repeatedly refers to “wealth management strategies.”
Wealth management typically implies a broader, personalised advisory relationship than a Research Analyst registration covers.
Ask the firm directly whether any wealth management service offered goes beyond research and recommendations, since the confirmed registration on file is a Research Analyst licence rather than an Investment Adviser or Portfolio Manager one.
4. Social Media Icons That Lead Nowhere
The Facebook, Twitter, LinkedIn, and Instagram icons on the site link only to the homepage’s own anchor tag rather than to any actual social media profile.
None of the firm’s claimed social media presence can currently be verified through the website itself.
How to File a Complaint Against Pawandeep Singh Pabla?
Given the specific pricing discrepancies above, a complaint here has firmer, more documentable ground than a dispute over research quality alone.
Start by getting the exact price, duration, and payment platform for whichever plan you are considering confirmed in writing, since the official site, the third-party checkout, and the separate registration fee all currently describe the HNI Plan differently.
If you have already paid through the third-party platform, keep that transaction record separately from anything shown on the official site.
Send your grievance to the RA’s email ID, describing what you were told, what you paid, and what you want resolved. Keep the sent record regardless of what comes back.
If the response is not satisfactory, escalation runs through a specific set of channels, and each one exists for a different stage of the dispute rather than as alternatives to pick from.
- SEBI SCORES: Lodge your grievance through the SEBI SCORES complaint portal. This is your entry point into the regulator’s formal complaint system, and it creates an official paper trail from day one.
- SMART ODR: If SCORES doesn’t bring resolution, take the matter to the SMART ODR portal for conciliation. An independent third party steps in here to help both sides reach common ground without a drawn-out fight.
- Arbitration: Should conciliation also fail to resolve things, arbitration in stock exchange proceedings delivers a final, legally binding decision. Once this stage wraps up, there’s no walking it back.
It helps to know what each of these stages actually involves before you find yourself needing one.
For the complete process, walk through our guide on complaint against SEBI registered research analyst.
Charged ₹1.78L for three months on a ₹1.51L yearly plan?
We document the pricing discrepancy across both platforms directly, total what you were actually charged against the SEBI ceiling, and put the figure on record in a form the analyst has to respond to. Register with us for a free read on your situation.
Disclaimer
This page is based on Laurel Financial Services’ own published material, its linked third-party payment platform, and the SEBI intermediary register, current as of September 2026, and alleges no wrongdoing since no SEBI order stands against the firm.
Registration details, pricing, and website content can change, so verify everything at source before acting. Treat this page as research, not legal or investment advice.
Conclusion
Pawandeep Singh Pabla’s Laurel Financial Services holds a genuine SEBI Research Analyst registration, INH000023904, active since November 2025, with a complaint record limited to one resolved case.
The pricing picture needs serious caution.
Two of the three official plans breach the SEBI fee ceiling severely once annualised, and the third, linked to a third-party checkout, is billed there as a three-month subscription at ₹1,78,000, already above the full annual limit before any renewal.
Three different sources describe the same plan three different ways.
Before paying anything, get the exact price, duration, and platform confirmed in writing, and check the total against ₹1,51,000 directly rather than trusting whichever figure you encounter first.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It is registered to Pawandeep Singh Pabla, operating as Laurel Financial Services, from 28 November 2025 and is perpetual. Confirm it directly on the SEBI register rather than relying on the website alone.
The Basic Plan and Premium Plan both breach it severely once annualised, at ₹3,00,000 and ₹3,20,000 respectively. The HNI Plan is listed at exactly ₹1,51,000 on the official site, but a linked third party checkout charges ₹1,78,000 for what it describes as a three month subscription instead.
The official website lists it as ₹1,51,000 for a full year. A third party payment platform linked from the site describes it as a three month subscription priced at ₹1,78,000, with a separate ₹29,400 registration charge. Get the actual price and duration confirmed in writing before paying.
Use the address on the SEBI intermediary register, 48/6, Pipliya Rao, Indore, rather than the different address currently shown on the firm's own website.
Its disclosure shows one complaint, received and resolved in November 2025, close to when the registration itself began. The nature of that complaint is not disclosed, and no data has been published for any month of 2026.
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