The following Terms & Conditions govern the provision of research services in accordance with Regulation 24(6) of the SEBI (Research Analysts) Regulations, 2014. By availing our research services, the client acknowledges, understands, and agrees to the following terms.

Nature of Services

• Research services include the preparation and publication of research reports containing analysis, recommendations, and opinions relating to securities and financial markets.
• The Terms & Conditions and the client’s consent apply solely to the research services provided by the Research Analyst (RA). The RA shall not execute or carry out any purchase or sale transaction on behalf of the client.
• Research reports, recommendations, opinions, and market views are provided solely for informational purposes and shall not be construed as personalized investment advice or portfolio management services.

Fees & Payment

• Fees are charged strictly in accordance with the limits prescribed by SEBI under Regulation 15A of the Research Analysts Regulations. All applicable fees are disclosed to the client before the commencement of services.
• Payments may be made through cheque, online bank transfer, UPI, NEFT/RTGS, or other approved banking channels. Cash payments are not accepted.
• The advance fee collected shall not exceed one quarter of the agreed service period. In the event of premature termination by either the client or the Research Analyst, a proportionate refund for the unexpired period shall be provided, wherever applicable.
• Clients may also choose to make payments through the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (RAASB) for enhanced transparency and regulatory compliance.

Client Obligations

• The client shall keep all contact details, including email address and mobile number, updated with the Research Analyst at all times.
• The client shall not reproduce, distribute, publish, or share any research report or recommendation with any third party without obtaining prior written consent from the Research Analyst.
• All investments made based on research reports or recommendations are subject to market risks. The client acknowledges that investment decisions are made at their own discretion and no claim for losses arising from such decisions shall lie against the Research Analyst.

Limitations & Disclaimer

• The Research Analyst shall never ask for the client’s trading account credentials, Demat account credentials, internet banking passwords, PINs, or One-Time Passwords (OTPs). Clients are advised not to share such confidential information with anyone.
• No assured, guaranteed, or fixed return schemes, profit-sharing arrangements, or similar offerings are permitted under applicable SEBI regulations and are not provided by the Research Analyst.
• No term or condition imposed by the Research Analyst shall override or contradict any provision of the SEBI (Research Analysts) Regulations, 2014, or any other applicable law.