Quick Summary
Deep Kandpal, proprietor of ResearchInn Investment Advisor, holds SEBI Investment Adviser registration INA000004450 since March 2016. Three of its own published yearly plans, Option Premium, Future Premium and Commodity Premium, are priced at ₹1,78,180 each, above the ₹1,51,000 per client family annual ceiling for individual and HUF clients. Eight complaints appear across five years, all resolved, and the Privacy Policy raises its own concerns. A separate set of JustDial reviews, with more serious allegations, sits on our dedicated ResearchInn Reviews page.
Deep Kandpal, trading as ResearchInn Investment Advisor, holds SEBI Investment Adviser registration INA000004450 since 31 March 2016, based out of Indore.
The registration itself is genuine. What is not in order is the pricing on three of the firm’s own published plans, which sit above the fee ceiling that applies to this exact licence, based on the firm’s own numbers rather than anyone else’s calculation.
This page works through the registration, the pricing breach, the complaint table, and the privacy and social media concerns.
The firm’s JustDial reviews, which raise more serious allegations, have their own dedicated page linked above and again further down.
ResearchInn Investment Advisor Indore
ResearchInn describes a research-driven approach built on market screening, fundamental analysis, risk assessment, and research validation, positioning itself around analytical discipline rather than discretionary calls.
The firm states it began operations in 2016, expanded its research coverage in 2019, and underwent a digital transformation in 2022, and that it requires KYC and a completed risk assessment before activating any service, even where a client has already paid a subscription fee.
Its services span different holding periods, from intraday trading calls through medium-term and long-term portfolio recommendations, each sold as a separate named plan, covered in the pricing table below.
None of this establishes wrongdoing, and nothing further on this page does either, aside from the pricing breach covered next, which is a finding grounded directly in the firm’s own published numbers.
Is ResearchInn Investment Advisor SEBI Registered?
Yes, and the registration is confirmed on SEBI’s own published Investment Adviser list.
| Particulars | Details |
|---|---|
| Name | Deep Kandpal Prop. Research Inn Investment Advisor |
| Registration No. | INA000004450 |
| E-mail Name | my.researchinn |
| Registered Address | B-702, 7th Floor, Metro Tower, Vijay Nagar, Indore, Madhya Pradesh 452001 |
| Correspondence Address | TF-01, Shubham Corporate, 27 Patel Nagar, Sapna Sangeeta Road, Indore, Madhya Pradesh 452001 |
| Validity | Mar 31, 2016, Perpetual |
What The INA Prefix Permits, And What It Caps
The INA prefix marks an Investment Adviser, a licence permitting personalised, fee-based advice.
That licence is also the one carrying the ₹1,51,000 per client family per year fee ceiling for individual and HUF clients who are not accredited investors, the exact rule the pricing table below breaches.
Where Do ResearchInn’s Own Prices Breach the SEBI Fee Cap?
| Service | Weekly | Monthly | Quarterly | Half-Yearly | Yearly |
|---|---|---|---|---|---|
| Stock Option | ₹5,900 | ₹17,700 | NA | NA | ₹1,18,000 |
| Index Option | ₹5,900 | ₹17,700 | NA | NA | ₹1,18,000 |
| Option Premium | ₹5,900 | ₹23,600 | ₹59,000 | ₹1,18,000 | ₹1,78,180 |
| Future Premium | NA | ₹23,600 | ₹59,000 | ₹1,18,000 | ₹1,78,180 |
| Commodity Premium | NA | ₹23,600 | ₹59,000 | ₹1,18,000 | ₹1,78,180 |
Three yearly plans, Option Premium, Future Premium, and Commodity Premium, are each priced at ₹1,78,180.
That figure sits ₹27,180 above the ₹1,51,000 annual ceiling for a non-accredited individual or HUF client, before any question of GST is even considered.
This is not a close call requiring interpretation.
The ceiling is a flat annual figure per client family, and a single yearly plan priced above it breaches the cap on its own, independent of whatever else a client might also be subscribed to.
The pricing table also does not state how many recommendations or calls are included in any given plan or duration, which makes it difficult to compare the actual scope of service across the five listed products, separate from the fee cap question itself.
If you are currently subscribed to any of these three yearly plans, you have grounds to raise the fee cap breach directly with the firm, and with SEBI if the firm does not correct it.
What Does ResearchInn’s Complaint Disclosure Show?
|
Period |
Received | Resolved | Pending |
|---|---|---|---|
|
2021-22 |
2 | 2 | 0 |
|
2022-23 |
4 | 4 | 0 |
| 2023-24 | 1 | 1 |
0 |
| 2024-25 | 1 | 1 |
0 |
| 2025-26 | 0 | 0 |
0 |
| Total | 8 | 8 |
0 |
Eight complaints across four years with activity, all marked resolved and none currently pending.
The 2022-23 spike to four complaints, against one or two in the surrounding years, is worth noting on its own, even without further detail on cause.
A Five-Year Gap Before Any Complaint Data Appears
ResearchInn’s registration became active in March 2016, yet the earliest complaint data disclosed is for FY2021-22, five years later.
The website gives no explanation for the gap, and offers no breakdown of what any of the eight complaints actually concerned.
What Does ResearchInn Investment Advisor Privacy Policy Raise?
Several provisions in ResearchInn’s Privacy Policy are worth reading closely rather than treating as standard boilerplate.
Marketing consent is tied to mobile number registration, with the policy stating that registering a number means agreeing to be contacted, including by SMS, even where that number is registered under DND.
This could expose a client to promotional messages despite an active Do Not Disturb preference.
Personal data, including mobile numbers and email addresses, is stated to be usable for “newsletters, surveys, contests or updates,” broad wording that does not clearly separate necessary service communication from promotional outreach.
No specific data retention period is stated anywhere in the policy, and the firm reserves broad discretion to revise the policy “from time to time” and “in its sole discretion,” with continued website use treated as acceptance of whatever changes follow, without a clear notification mechanism described.
What Other Gaps Are Worth Knowing?
Social media links on the website do not work as expected.
Clicking through redirects back to the top of ResearchInn’s own site rather than to the actual Facebook or LinkedIn profile, which prevents an outside visitor from independently verifying the firm’s social presence or reading its public posts directly.
No accessible Terms and Conditions or MITC document could be found on the site, limiting a prospective client’s ability to review the governing terms before paying for any plan.
Separately, a pattern worth naming: comments on the firm’s Facebook posts include users alleging their own comments were removed or hidden, with remarks asking directly why that happened.
This is a third-party allegation about moderation practices, not an independently confirmed fact.
It is noted here as a pattern worth being aware of, not a settled conclusion.
What Do JustDial Reviewers Say About ResearchInn Investment Advisor?
The firm’s JustDial listing carries a 3.9 star rating alongside a set of detailed negative reviews, including specific loss figures, named staff complaints, and more serious allegations that require careful, hedged treatment.
That material, with the full defamation-safety hedging it needs, sits on our dedicated ResearchInn Investment Advisor Reviews page.
How To File a Complaint Against ResearchInn Investment Advisor?
If you are subscribed to one of the three yearly plans priced above the fee cap, start there.
Put it in writing to the firm, citing registration number INA000004450 and the specific ₹1,78,180 figure, and ask for a refund of the excess over ₹1,51,000 for the relevant period.
For any other grievance, keep a written record of the complaint and the firm’s response before escalating.
If the firm’s direct response does not resolve things, the next stage is the regulator’s own platform.
The SEBI SCORES portal is where that formal filing happens, and citing both the registration number and the fee cap breach helps route it correctly.
Where SCORES does not produce a resolution, structured conciliation is the next stage rather than a repeat filing.
The SMART ODR login page explains how a conciliator gets assigned and what to bring into that session.
For the complete step-by-step process against a SEBI-registered adviser, our guide on file complaint against RIA covers every stage from the first written notice through formal escalation.
Paying for a yearly plan priced above the SEBI fee cap?
We help you calculate the exact excess, put the refund request in writing, and escalate it if the firm does not respond. Register with us to get started.
Disclaimer
This page is based on ResearchInn Investment Advisor’s own published material, the SEBI intermediary register and public third-party listings, current as of October 2026, and alleges no wrongdoing beyond the fee cap breach, which is calculated directly from the firm’s own published pricing table. 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
Deep Kandpal, trading as ResearchInn Investment Advisor, holds a genuine SEBI Investment Adviser registration, INA000004450, confirmed on the regulator’s own list.
The clearest issue here is pricing.
Three of the firm’s own yearly plans, Option Premium, Future Premium and Commodity Premium, are each priced at ₹1,78,180, above the ₹1,51,000 annual fee ceiling for non-accredited individual and HUF clients, by the firm’s own published numbers.
Eight complaints appear across five years, all resolved, alongside a Privacy Policy that ties marketing consent to mobile registration regardless of DND status, and social media links that do not function as published.
Before subscribing to any yearly plan here, check its price against the fee cap yourself, and if you are already subscribed to one of the three plans named above, raise the excess with the firm directly.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It is registered to Deep Kandpal, trading as ResearchInn Investment Advisor, since 31 March 2016 and is perpetual. Confirm it directly on SEBI's register rather than relying on the website alone.
The yearly Option Premium, Future Premium and Commodity Premium plans, each priced at ₹1,78,180, breach the ₹1,51,000 per client family annual ceiling that applies to non-accredited individual and HUF clients.
Put a written request to the firm citing the registration number and the fee cap breach, asking for a refund of the amount above ₹1,51,000, and escalate through SEBI SCORES if the firm does not respond adequately.
Eight, disclosed across four financial years between 2021-22 and 2024-25, all marked resolved with none currently pending, though no complaint data is available for the firm's first five years of registration.
That is covered in full, with proper hedging for third party claims, on our dedicated ResearchInn Reviews page, linked from this page.
Add us as a preferred source on Google »
