Quick Summary
Piyush Sanjaykumar Heda operates Mr. P Investments, a SEBI registered Research Analyst carrying INH000017471, active since July 2024 and based in Ichalkaranji, Maharashtra. The firm’s homepage currently displays unfinished template placeholder text, including standard Lorem ipsum filler sentences repeated multiple times, still visible to the public. Its dedicated Plans and Pricing section carries no actual prices or fee details. Its complaint tables contradict each other on which month two SCORES complaints actually arrived in, and its site separately makes inconsistent claims about the firm’s years of experience and client base.
Piyush Sanjaykumar Heda operates Mr. P Investments, a SEBI-registered Research Analyst with registration INH000017471, based in Ichalkaranji, Maharashtra.
The registration is genuine and confirmed directly on the firm’s own site. What is not finished is the site itself.
Its homepage currently displays unedited template placeholder text, standard Lorem ipsum filler sentences, still live and visible to any visitor.
This page works through the registration, that specific finding, the missing pricing information, the complaint disclosure and its internal contradiction, and the inconsistent claims made elsewhere on the site.
Piyush Heda Review
Mr. P Investments describes itself as a SEBI-registered organisation offering stock market research and personalised trading guidance, with a dedicated Plans and Pricing section and a promoted free Telegram channel delivering regular trading calls and market updates.
The firm’s grievance page carries a genuinely useful piece of investor protection guidance, worth crediting directly.
It instructs clients to pay Research Analyst service fees only to the bank account registered under the analyst’s exact SEBI-registered name, to request email communication only from the registered email address listed on SEBI’s own site, and to report any suspicious accounts to the firm.
That is specific, actionable anti-impersonation guidance, clearer than many firms in this sector provide.
None of what follows 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 Piyush Heda SEBI Registered?
Yes, and INH000017471 is confirmed directly on the firm’s own website as well as independently through third-party listings.
| Detail | Information |
| Name | Piyush Sanjaykumar Heda, Proprietor of Mr. P Investments |
| SEBI Registration Number | INH000017471 |
| Validity | 10 July 2024, Perpetual |
| Address | 16/1563, Mahesh Nagar, Ichalkaranji, Maharashtra 416115 |
| Correspondence Address | Same as registered address |
| Contact Person | Piyush Heda |
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.
Why Does Mr. P Investments’ Homepage Still Show Placeholder Text?
This is the clearest and most unusual finding on this page.
The firm’s live homepage currently displays unedited template content, including the standard Lorem ipsum filler paragraph used as a placeholder during website construction, and a separate line, “Expedita corporis doloremque velit in totam,” repeated numerous times across the page.
Neither is real content. Both are filler text meant to be replaced before a site goes live, left in place on a page currently accessible to the public.
A registered Research Analyst’s homepage is the first thing a prospective client sees, and it is meant to describe the actual services being offered.
Placeholder text on a live page means at least part of that description has never actually been written, and it raises a fair question about how carefully the rest of the site has been reviewed.
Why Does the “Plans and Pricing” Section Show No Prices?
The website includes a dedicated section titled Plans and Pricing. It does not contain any actual pricing figures, fee amounts, or plan details in the material reviewed for this page.
This means the ₹1,51,000 annual SEBI fee ceiling for individual and HUF clients cannot currently be checked against anything published.
There is no starting point to annualise or compare.
Combined with the Our Services section, which lists generic headings such as “Illustrative Purposes,” “SEBI Registration,” “Past Performance,” and “Educational Purposes” rather than describing the actual research services offered, a prospective client cannot currently determine what they would be paying for or how much it would cost from the site itself.
Before agreeing to anything, get the exact service description, fee, and subscription duration in writing directly from the firm, since none of the three are currently available on the public site.
What Does Mr. P Investments’ Complaint Data Show?
The firm’s three complaint tables do not agree with each other on a basic point: which month two specific complaints actually arrived in.
Current Complaint Status, August 2026
| Received From | Pending Last Month | Received | Resolved | Total Pending | Pending Over 3 Months | Avg. Resolution Time |
|---|---|---|---|---|---|---|
| Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 |
| SEBI (SCORES) | 0 | 2 | 0 | 2 | 0 | 0 |
| Other Sources | 0 | 0 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 2 | 0 | 2 | 0 | 0 |
Monthly Disposal Trend
| Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| May 2026 | 0 | 0 | 0 | 0 |
| June 2026 | 0 | 0 | 0 | 0 |
| July 2026 | 0 | 2 | 0 | 2 |
| August 2026 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 2 | 0 | 2 |
Annual Disposal Trend
| Financial Year | Received | Resolved | Pending |
|---|---|---|---|
| 2024-25 | 0 | 0 | 0 |
| 2025-26 | 0 | 0 | 0 |
| 2026-27 | 2 | 0 | 2 |
| Grand Total | 2 | 0 | 2 |
Where the Tables Disagree
The current complaint status table, explicitly labelled as covering the month ending August 2026, states that 2 complaints were received in August.
The separate monthly disposal trend table shows 0 complaints for August 2026, with the same 2 complaints instead recorded in July 2026.
Both tables cannot be correct about which month these complaints actually arrived in.
The annual table’s total of 2 received matches both versions equally, since it does not break the figure down by month, so it does not resolve which of the two monthly figures is accurate.
This is a narrow, specific inconsistency rather than a sign of a large or hidden complaint volume, since both readings agree on the same total of 2 complaints, both still pending, both received through SCORES rather than directly.
It is still worth asking the firm to confirm the correct month, since a prospective client checking one table rather than the other would currently reach a different conclusion about how recently the firm’s most recent complaints arrived.
Two complaints, both still pending with an average resolution time shown as 0 days, are also worth noting on their own.
A pending complaint alongside a stated 0-day average resolution time is difficult to reconcile, since a complaint that is still open has not yet been resolved in any number of days.
The registration became active in July 2024, but the monthly disposal trend only covers May through August 2026, leaving roughly two years of the firm’s operating history with no published monthly data at all.
What Other Claims on the Website Need a Closer Look?
A few figures on the site contradict each other directly, and the promotional language around the firm’s Telegram presence is worth reading carefully as well.
1. Two Different Experience Figures
The site states the firm carries “over 4+ years of market experience” in one place and “over 7 years in the industry” in another.
Given that the SEBI registration itself is roughly two years old at the time of this review, neither figure aligns cleanly with the registration date, and the two statements do not agree with each other either.
2. Two Different Client Count Claims
The site separately states it is relied upon by more than 100,000 traders and, elsewhere, that it is trusted by over 90,000 traders.
Neither figure is explained or broken down, and the two do not match.
3. A Large Telegram Subscriber Count with a Restricted, Unclear Joining Process
The site promotes its free Telegram channel as carrying over 90,000 subscribers, while also stating that access is subject to the channel administrator’s approval, without explaining what that approval process actually involves or what a prospective member should do if access is not immediately granted.
4. A Non-functional Instagram Link
The Instagram link on the site does not open the analyst’s actual profile, leaving that claimed platform unverifiable through the website itself.
5. Promotional Language Around Trading Outcomes
Phrases including “you can also be a pro trader,” “financial success,” and “thrive in the world of trading” recur across the site.
This kind of language, promising a positive trading outcome rather than describing a research service, is the type of phrasing SEBI’s advertisement standards for Research Analysts caution against.
How to File a Complaint Against Piyush Heda?
Given the missing pricing and the placeholder content on the site, most concerns at this stage are more likely to involve basic transparency than an established pattern of misconduct.
Start by getting the actual service description, fee, and subscription duration confirmed in writing before paying anything, since none of the three are currently published.
If you have an existing complaint with the firm, ask directly which month, July or August 2026, it was actually logged in, since the firm’s own tables disagree.
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: Submit your grievance through the SEBI SCORES complaint portal. This puts your case directly in front of the regulator and sets a formal response timeline in motion.
- SMART ODR: When SCORES doesn’t get you anywhere, escalate to the SMART ODR portal for conciliation. A neutral mediator gets involved here, working to bring both parties to an agreement.
- Arbitration: If conciliation also fails to produce a resolution, arbitration in stock exchange proceedings delivers a binding verdict that neither party can simply walk away from.
Understanding how each stage works in advance makes the process far less daunting if you ever need to use it.
To walk through the complete process step by step, refer to our guide on complaint against SEBI registered research analyst.
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Disclaimer
This page is based on Mr. P Investments’ own published material 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
Piyush Sanjaykumar Heda’s Mr. P Investments holds a genuine SEBI Research Analyst registration, INH000017471, active since July 2024, with genuinely useful anti-impersonation guidance on its own grievance page worth crediting directly.
The rest of the site needs real attention before you subscribe.
Its homepage still displays unfinished placeholder text, its Plans and Pricing section shows no actual prices, its complaint tables disagree on which month two pending complaints arrived in, and its own experience and client figures contradict themselves in two separate places.
Before paying anything, get the actual service, fee, and duration in writing, since none of the three are currently available on the site as published.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It is registered to Piyush Sanjaykumar Heda, operating as Mr. P Investments, from 10 July 2024 and is perpetual. Confirm it directly on the SEBI register rather than relying on the website alone.
It means part of the website's content was never finished before the site went live. It is not evidence of any regulatory violation on its own, but it is worth asking the firm to explain given how central the homepage is to describing its actual services.
No pricing is currently published on the site despite a dedicated Plans and Pricing section. Get the exact fee, service scope, and duration in writing directly from the firm before agreeing to anything.
The firm's own tables disagree. The current status table places both complaints in August, while the monthly trend table places them in July. Ask the firm to confirm directly.
Only if it exactly matches the registered name on the SEBI record, "Piyush Sanjaykumar Heda Proprietor of Mr. P Investments." The firm's own grievance page states this explicitly and warns against paying any other account.
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