Terms and Conditions

These terms and conditions, along with the client's consent thereto, relate solely to the research services provided by the Research Analyst (RA). The RA is not authorized to execute or undertake any trade (buy or sell transaction) on behalf of the client. Accordingly, clients are advised not to authorize or permit the RA to execute trades on their behalf.

The fees charged by the RA shall be subject to the maximum limits prescribed by SEBI and/or the Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only to Individual and HUF clients).

Currently, the fee limit is ₹1,51,000 per annum per client family for all research services provided by the RA.

The prescribed fee limit excludes applicable statutory levies and charges.

These fee caps are not applicable to non-individual clients or accredited investors.

The RA may collect fees in advance where mutually agreed with the client. Such advance fees shall not exceed the period permitted by SEBI, which is currently one year. In the event of early termination of services by either the client or the RA, the client shall be eligible for a proportionate refund corresponding solely to the unutilized period of service.

Clients may remit fees to the RA through approved payment methods, including cheque, online bank transfer, UPI, and other permitted channels. Cash payments are strictly prohibited. Clients may also choose to make payments through the Centralized Fee Collection Mechanism (CeFCoM) operated by BSE Limited, the currently recognized RAASB.

The RA shall comply with all applicable SEBI and RAASB regulations, circulars, guidelines, and directions concerning the identification, disclosure, and management of actual or potential conflicts of interest. The RA shall make reasonable efforts to promptly disclose to the client any conflict of interest that could influence the services being provided.

Any scheme offering assured, guaranteed, or fixed returns, or any arrangement of a similar nature, is prohibited under applicable law. The RA shall not offer or promote any such scheme to the client.

The RA does not guarantee any returns, profits, accuracy of outcomes, or risk-free investments arising from the use of its research services. All opinions, forecasts, estimates, and recommendations are based on the analysis of available information and assumptions prevailing as of the date of preparation or publication of the research report.

Investments made based on the recommendations contained in research reports are subject to market risks, and such recommendations should not be construed as an assurance of returns. The RA shall not be liable for any losses incurred by the client on investments made pursuant to such recommendations. Any reliance placed on the research report shall be based on the client's independent judgment and assessment of the conclusions and recommendations contained therein.

The RA's SEBI registration, enlistment with RAASB, and NISM certification should not be interpreted as a guarantee of the RA's performance or as an assurance of returns to the client.

By subscribing to the services, clients acknowledge and agree that they may receive periodic buy and sell signals or updates generated by the RA's equity research team. Such communications may be provided from time to time; however, the RA does not guarantee the execution, profitability, accuracy, timing, or regular frequency of any trade or communication based on such signals.

In the event of any grievance:

• Step 1: The client should first approach the RA through the grievance redressal mechanism available on the RA's website.
• Step 2: If the resolution is not satisfactory, the client may lodge a complaint on SEBI's SCORES platform at www.scores.sebi.gov.in.
• Step 3: The client may also seek resolution through the Online Dispute Resolution (ODR) mechanism available via the SMART ODR Portal at https://smartodr.in.

Clients must ensure that their contact information, including email addresses and mobile numbers, remains accurate and updated with the RA at all times.

The RA shall never request the client's login credentials, passwords, PINs, or OTPs relating to the client's trading account, demat account, or bank account. Clients should never disclose such confidential information to any person, including the RA.