Terms & Conditions

1. Nature and Scope of Research Services

• We provide research reports and research recommendations on securities, including equity, sector, thematic and technical research.
• Every research service must be supported by a research report containing relevant data and analysis.
• Research is general and not personalised to a client's financial situation, goals or risk profile.
• We do not provide investment advisory, financial planning, portfolio review, portfolio management, broking, distribution or trade-execution services.
• We do not accept, hold or manage client funds or securities and cannot operate a trading, demat or bank account.

2. Client Onboarding and KYC

• The client must be legally competent to contract and provide complete and accurate information.
• KYC will be completed for fee-paying clients in the manner prescribed by SEBI and RAASB.
• Service may be declined where KYC, sanctions, conflict-of-interest, payment, capacity or other regulatory requirements are not satisfied.
• The client must keep contact and KYC information current.

3. App Account and Acceptable Use

• The Android app signs users in with a verified Indian mobile/WhatsApp number and a time-limited one-time code. You are responsible for keeping your device, number and OTP secure.
• One person must not impersonate another, attempt to access another user's account, evade security limits, reverse engineer protected services, scrape content or interfere with the app or API.
• We grant a limited, personal, revocable and non-transferable right to use the app for lawful access to our services. No ownership in the app, brand or research content is transferred.
• We may suspend an account to protect users, investigate misuse, comply with law or enforce these terms. Suspension does not remove any statutory refund or grievance right.
• You can review signed-in devices and revoke sessions in the app. Account deletion is available under Profile → Delete account and through our public Account Deletion page.

4. Fees, Google Play Billing and Payment

• As per SEBI norms, the maximum fee that a Research Analyst may charge an individual or HUF client is ₹1,51,000 per annum per family of client. Statutory charges are excluded from this ceiling.
• The agreed fee, service period and statutory charges will be disclosed before consent.
• Any advance fee will not exceed one quarter, unless a later applicable SEBI/RAASB direction and the signed client terms expressly permit a different period.
• Payment is accepted only through traceable banking channels and compliant payment mechanisms. Cash is not accepted.
• Clients will be informed that the optional Centralized Fee Collection Mechanism (CeFCoM) administered by BSE Limited is available for payment of RA fees.
• No profit-sharing, performance-linked, success or breakage fee is charged.
• Paid access offered inside the Android app is purchased through Google Play Billing. Google displays the final local price, taxes and payment method before confirmation. Google's payment terms also apply to its transaction processing.
• Google Play purchase confirmation is verified with Google before app entitlement is granted. A pending, cancelled or unverified transaction does not create paid access.
• We do not receive card numbers, CVV, UPI PINs, bank passwords or Google passwords from Google Play.

5. Delivery, App Availability and Communications

• Research reports are delivered through the channel and within the service parameters disclosed during onboarding.
• Recommendations are distributed without discrimination among similarly placed clients.
• Clarification support is limited to explaining published research; it does not become personalised investment advice.
• Interactions concerning research services, including interactions with prospective clients, are maintained in a legally verifiable form for at least five years or longer where required.
• App access may be temporarily interrupted by internet, device, maintenance, Google Play, notification-provider or other service-provider conditions. We will take reasonable steps to restore our service, but push delivery is not guaranteed and must not be treated as the only way to monitor a research position.

6. Artificial Intelligence Disclosure

No Artificial Intelligence tools are presently used to prepare or deliver our research services. If this changes, the extent and purpose of AI use will be disclosed to clients before the affected service is provided.

7. Client Acknowledgements

• Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
• Recommendations do not assure returns and may result in partial or total loss of capital.
• The client will read the complete report, rationale, horizon, risks and conflicts before deciding whether to act.
• The client will not share or redistribute paid research or use it for an unlawful purpose.
• The client will never provide trading, demat or bank passwords or OTPs to the RA.

8. Conflicts and Disclosures

Actual or potential conflicts, financial interests, ownership, compensation and other disclosures required by the SEBI Research Analysts framework will be stated in the applicable research report and on the Disclosures page.

9. Termination, Account Deletion and Refund

Either party may terminate in accordance with the agreed terms. The client will receive a proportionate refund for the unexpired service period where applicable, and no breakage fee will be charged. Account deletion closes app access but does not erase a Google Play transaction record or automatically complete a refund. Suspension for more than 60 days or cancellation of registration is handled as described in the Refund Policy.

10. Privacy

Our Privacy Policy explains the app and website data we collect, the providers involved, retention, security and account deletion. It forms part of these terms.

11. Grievance and Dispute Resolution

Service deficiencies should be reported promptly through the secure contact form. We will seek to resolve research-service deficiencies within seven business working days and all grievances as soon as possible, not later than 21 days. Clients may use SEBI SCORES, RAASB review and SMART ODR as applicable.

12. Changes and Regulatory Rights

Voluntary terms will not contradict SEBI or RAASB requirements. Material changes will be preceded by at least 15 days' notice where required. No clause limits the client's rights under securities law, the RA Regulations, SCORES, RAASB review or ODR.

Last updated: September 2026. These terms must be accompanied by client-specific service details and affirmative client consent.