Terms and Conditions

Research Analyst: Mr. Sagar Shelar, a Securities and Exchange Board of India Registered Research Analyst, holding Registration No. INH00001761, with its registered office located at Mumbai, Maharashtra, hereinafter referred to as the "Research Analyst".

Client: The individual or entity subscribing to or availing research services provided by the Research Analyst, hereinafter referred to as the "Client."

The Client hereby accepts the research services and confirms to avail the research services on its own discretion provided by the Research Analyst, and the Research Analyst agrees to provide such services in accordance with the terms and conditions set forth underneath. The Client and the Research Analyst shall be bound by all applicable regulations, rules, circulars, and amendments issued by Securities and Exchange Board of India, including the Securities and Exchange Board of India (Research Analysts) Regulations, 2014 and all the other notifications of the Government, if any from time to time.

The Client is bound, upon acceptance of services, to submit all requisite documents as requested by the Research Analyst and help the Research Analyst to complete the Know Your Customer process. "The Client hereby gives consent to the Research Analyst to fetch his Know Your Customer documents from the Know Your Customer Registration Agency (KRA)."

The Client acknowledges and gives consent to be bound by the terms set forth herewith, as well as any applicable amendments or updates provided by the Research Analyst.

I have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the (Research Analyst) Regulations, 2014, including the fee structure.

I am subscribing to the research services for my own benefit and consumption, and any reliance placed on the research report provided by the Research Analyst shall be based on my own judgment and assessment of the conclusions contained in the research report.

The Research Analyst further declares that:

• It is duly registered as a Securities and Exchange Board of India Research Analyst having Registration No.: INH00001761, Date of Registration: [To be filled]
• It has registration and qualifications required to render the services contemplated under the Research Analyst Regulations, and the same are valid and subsisting.
• The services provided by the Research Analyst do not conflict with or violate any provision of law, rule, regulation, contract, or other instrument to which it is a party or to which any of its property is or may be subject.
• The maximum fee that may be charged by the Research Analyst is one lakh fifty-one thousand per annum per family of clients.
• The recommendations provided by Research Analyst do not provide any assurance of returns.
• The Research Analyst is not engaged in any additional professional or business activities on a full-time or executive capacity that may interfere with or influence the independence of the research report and/or recommendations. (Only For Individual Research Analyst)

The Client shall duly pay the fees to the Research Analyst of the invoice raised or for any agreed amount either written/oral within 2 days. The Client agrees to make all payments via: UPI/Net-banking/Payment Gateway or any other verified banking channel. Clients shall not pay any fees in cash. The Client hereby agrees to pay the fees in the bank account of Research Analyst only. The Research Analyst shall not be liable for any payment made to a third-party account.

The Client understands that the services provided by the Research Analyst involve inherent risks, and the Client agrees to bear full responsibility for any financial or other consequences arising from the use of these services.

The Research Analyst shall adhere to the applicable regulations/circulars/directions specified by Securities and Exchange Board of India from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest.

The Agreement may be terminated by the Client if the Research Analyst fails to provide the research recommendations. However, the Client cannot terminate the agreement solely based on not achieving the desired returns or incurring the losses from trading on the recommendations or the Client discontinues the services without a valid reason, or in case of force majeure.

The Research Analyst may suspend or terminate rendering of research services to clients on account of suspension/cancellation of registration of Research Analyst by Securities and Exchange Board of India and shall refund the residual amount to the Client.

In case of suspension of certificate of registration of the Research Analyst for more than 60 (sixty) days or cancellation of the Research Analyst registration, Research Analyst shall refund the fees, on a pro-rata basis for the period from the effective date of cancellation/suspension to end of the subscription period.

In the event of grievances related to non-receipt of the research report, missing content, or deficiencies in services, the Client may raise a grievance. The Research Analyst will ensure redressal within 7 days of such complaint.

The fee charged by Research Analyst to the Client will be subject to the maximum amount prescribed by Securities and Exchange Board of India/Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients). The current fee limit is one lakh fifty-one thousand per annum per family of Client for all research services of the Research Analyst. The fee limit does not include statutory charges. The fee limits do not apply to a non-individual Client/accredited investor.

Research Analysts may charge fees in advance if agreed by the Client. Such advance shall not exceed the period stipulated by Securities and Exchange Board of India; presently it is one year. In case of premature termination of the Research Analyst services by either the Client or the Research Analyst, the Client shall be entitled to seek refund of proportionate fees only for an unexpired period.

Fees to Research Analysts may be paid by the Client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the Client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e., currently recognized RAASB).

• Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the Client by the Research Analyst.
• The Research Analyst cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the Research Analyst's research services.
• The Research Analyst shall never ask for the Client's login credentials and OTPs for the Client's Trading Account, Demat Account, and Bank Account. Never share such information with anyone including Research Analysts.
• Clients are required to keep contact details, including email ID and mobile number(s) updated with the Research Analyst at all times.
• There is an optional 'Centralized Fee Collection Mechanism for Investment Advisors and Research Analysts' (CeFCoM) for fee payments.

No suit, prosecution or other legal proceeding shall lie against the Research Analyst for any damage caused or likely to be caused by anything which is done in good faith or intended to be done under the provisions of the Securities and Exchange Board of India (Research Analyst) Regulations, 2014.

Any disputes between the parties shall be resolved through arbitration or other methods mutually agreed upon, in accordance with applicable legal and regulatory guidelines.

If any provision of these Terms and Conditions is found to be invalid, illegal, or unenforceable, the remaining provisions will remain in full effect, provided the essential purpose of the Terms and Conditions is not undermined.

Neither party shall be held liable for failure or delay in performance under these Terms and Conditions due to circumstances beyond their reasonable control, including but not limited to natural disasters, government actions, or other unforeseen events.