Mandatory Disclosures

The following disclosures are made in compliance with SEBI (Research Analysts) Regulations, 2014, the Master Circular for Research Analysts, and applicable amendments.

Business Activity Disclosure

Ankit Dinesh Mehta (SEBI Reg. No. INH000025577) is engaged solely in the business of research analysis — the preparation and distribution of research reports and recommendations relating to securities. We do not undertake portfolio management, trade execution, or fund management activities.

Disciplinary History

["There are no pending material litigations or disciplinary actions taken by SEBI or any other regulatory authority against the Research Analyst as on [date]." — to be confirmed and dated by the firm.]

Terms & Conditions of Research Service

Detailed terms and conditions governing our research services are set out in our Most Important Terms and Conditions (MITC) / Terms & Conditions page.

Details of Associates

[ Details of associates as defined under SEBI RA Regulations, if any, along with nature of association.]

Compensation from Research Activities

Compensation is received solely in the form of subscription fees from clients as disclosed on our Subscription Plans page, within SEBI-prescribed fee limits. We do not receive compensation from the companies covered in our research reports.

Ownership & Financial Interest

[ Disclosure of whether the Research Analyst or associates hold financial interest / actual or beneficial ownership of 1% or more in the securities of the subject company as on the date of the report — to be disclosed report-wise as applicable.]

Receipt of Compensation from Subject Company

Ankit Dinesh Mehta has not received any compensation from the companies mentioned in its research reports in the twelve months preceding the date of the report, other than fees received for research services from clients. [ Update if inapplicable.]

Fee Ceiling Disclosure

As per SEBI/RAASB norms, the maximum fee chargeable to an individual/HUF client across all research services combined is ₹1,51,000 per annum per family (excluding statutory charges), subject to periodic revision. This ceiling does not apply to non-individual or accredited-investor clients.

Use of Artificial Intelligence

The extent of use of AI tools in our research process is disclosed on our dedicated AI Usage Disclosure page, as mandated by SEBI.