Most Important Terms and Conditions (MITC)

The following MITC (standardised by the Industry Standards Forum in consultation with SEBI and RAASB) are disclosed to every client and displayed on this website.

1. These terms and conditions, and the consent thereon, are for the research services provided by the Research Analyst (RA), and the RA cannot execute or carry out any trade (purchase/sell transaction) on behalf of the client. Clients are therefore advised not to permit the RA to execute any trade on their behalf.
2. The fee charged by the RA to the client will be subject to the maximum amount prescribed by SEBI / RAASB from time to time (applicable only for Individual and HUF clients). The current fee limit is ₹1,51,000/- per annum per family of client for all research services of the RA. The fee limit does not include statutory charges, and does not apply to a non-individual client / accredited investor.
3. The RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI (presently one quarter). In case of premature termination of RA services by either party, the client shall be entitled to a refund of proportionate fees for the unexpired period only.
4. Fees may be paid by the client through any of the specified modes such as cheque, online bank transfer or UPI. Cash payment is not allowed. Optionally, the client may make payment through the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (currently recognised as RAASB).
5. The RA is required to abide by the applicable regulations, circulars and directions specified by SEBI and RAASB from time to time in relation to the disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavour to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
6. Any assured / guaranteed / fixed-return schemes, or any other schemes of a similar nature, are prohibited by law. No such scheme shall be offered to the client by the RA.
7. The RA cannot guarantee returns, profits, accuracy or risk-free investments from the use of its research services. All opinions, projections and estimates of the RA are based on an analysis of available data under certain assumptions as of the date of preparation / publication of the research report.
8. Any investment made on the basis of recommendations in research reports is subject to market risks, and the recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on investments made on the basis of the recommendations. Any reliance placed on the research report shall be as per the client's own judgement and assessment of the conclusions contained therein.
9. The SEBI registration, enlistment with RAASB and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
10. For any grievances – Step 1: the client should first contact the RA using the contact details on its website or the Grievance Redressal / Escalation Matrix. Step 2: if the resolution is unsatisfactory, the client may lodge the grievance through SEBI's SCORES platform at www.scores.sebi.gov.in. Step 3: the client may also consider Online Dispute Resolution through the SMART ODR portal at https://smartodr.in.
11. Clients are required to keep their contact details, including e-mail id and mobile number, updated with the RA at all times.
12. The RA shall never ask for the client's login credentials or OTPs for the client's trading, demat or bank accounts. Clients must never share such information with anyone, including the RA.