Terms and Conditions of Research Analyst Services

1. Acceptance of Research Services

• The client confirms that he/she has elected to subscribe the research service of the RA at his/her sole discretion.
• The RA confirms that the research services rendered shall be in accordance with the applicable provisions as outlined in the SEBI (Research Analysts) Regulations, 2014 (RA Regulations).

2. Obligations on RA and Client

• Both the RA and the client shall be bound by SEBI Act, RA Regulations, and all the applicable regulations, rules, and notifications issued by SEBI or the Government of India, as may be in force from time to time.

3. Client Information and KYC Requirements

• The client agrees to provide complete and accurate information as required by the RA for Know Your Customer (KYC) compliance, including any details as mandated by SEBI or RAASB from time to time.
• The RA will collect, store, upload and verify KYC records in accordance with SEBI guidelines through a KYC Registration Agency (KRA) as specified from time to time.

4. Standard Terms of Service

By subscribing to the research services, the client confirms the following:

1. "I/We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure."
2. "I/We are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report."
3. "I/We understand that –
   • Any investment made based on the recommendations in the research report are subject to market risk.
   • Recommendations in the research report do not provide any assurance of returns.
   • There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report"

By agreeing to render the research services, the RA declares the following:

1. It is duly registered with SEBI as an RA under the SEBI (Research Analysts) Regulations, 2014 and its registration details are –
   • Registration number- INH000025577
   • Registration date- March 17, 2026
2. It has registration and the qualifications required to render the research services as contemplated under the RA Regulations and the same are valid and subsisting;
3. The services provided do not conflict with or violate any applicable law or agreement.
4. The maximum fee charged by the RA is ₹1.51 lakhs per annum per family of clients.
5. Recommendations provided by the RA do not provide any assurance of returns.
6. RA is not engaged in any other professional or business activity that could compromise the independence or objectivity of their research services.

5. Fees and Payment Terms

• The client agrees to pay the fees for the research services as mutually agreed upon, along with applicable statutory charges. The Scope of service and fee details are enclosed as Annexure 1.
• The subscription fees shall be paid in advance, provided the advance amount is not more than that for a period one year only, as permitted by SEBI.
• Fees shall be payable by way of direct credit to the designated bank account/s through channels like Net Banking/Debit Card/NEFT/ RTGS/ IMPS/ UPI/ eNACH mandate/ any other acceptable mode as per the RA regulations. Payment may also be processed though payment gateway services opted by RA from time to time. The fees shall not be accepted in cash.
• An Option of payment through SEBI authorised ‘Centralised Fee Collection Mechanism (CeFCoM)’ is available with every investor. If client likes to opt for CeFCoM, an email request for the same may be sent to RA for processing of same.

6. Risk Factors

• Investments in securities carry inherent market risks, including potential loss of capital.
• Historical performance of recommendations is not indicative of future returns.
• The client must independently assess the suitability of investment decisions based on the research reports provided.
• Registration granted by SEBI/ BSE, and certification from NISM in no way guarantee performance of the RA (intermediary) or provide any assurance of returns to the clients.

7. Conflict of Interest

• The RA shall comply with all the applicable regulations/ circulars/ directions as specified by SEBI from time to time in relation to disclosure and mitigation of any actual or potential conflicts of interest.
• Any actual or potential conflict of interest will be disclosed transparently to the client as and when identified. Disclosures with respect to material information of the RA is described in Annexure 2.

8. Termination of Services and Refunds

• The RA reserves the right to suspend or terminate services in the event of suspension or cancellation of their SEBI registration.
• In case of cancellation of SEBI Registration, RA shall refund the pro-rata fees for the remaining subscription period to the client on suspension or termination of services.
• In case of Suspension of certificate of registration for more than 60 (sixty) days, RA shall refund the pro-rata fees for the remaining subscription period to the client on suspension or termination of services.
• Remaining subscription period shall be period from the effective date of cancellation/ suspension to end of the subscription period.

9. Grievance Redressal and Dispute Resolution

• Clients may escalate grievances related to deficiencies in services as mentioned below to the RA's designated person-
  • Non-receipt of research report, or
  • Missing pages or inability to download the entire report, or
  • Any other deficiency in the research services provide by RA
• Contact details of designated person for escalation of grievances are as below-
  • Name- Ankit
  • Email-ankit@mehtainsights.com
• RA shall redress grievances of the client in a timely and transparent manner.
• RA shall resolve grievances within seven business working days or as specified by SEBI under RA Regulations.
• In case you are not satisfied with our response you can lodge your grievance with SEBI at https://scores.sebi.gov.in/ or you may also write to any of the offices of SEBI. SCORES may be accessed thorough SCORES mobile application as well, same can be downloaded from below link:
  https://play.google.com/store/apps/details?id=com.ionicframework.sebi236330
• Disputes between the RA and the client may be resolved through arbitration or any other modes or mechanism as specified by SEBI from time to time. ODR Portal could be accessed, if unsatisfied with the response. Your attention is drawn to the SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023, on “Online Resolution of Disputes in the Indian Securities Market”. A common Online Dispute Resolution Portal (“ODR Portal”) which harnesses conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market has been established. ODR Portal can be accessed via the following link - https://smartodr.in/

10. Mandatory Notices

• Clients are advised and requested to familiarize themselves with SEBI’s guidelines, including the Do’s and Don’ts while dealing with RAs, as specified in SEBI’s Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, or as updated by SEBI from time to time. Link to Master circular for reference- https://www.sebi.gov.in/sebi_data/attachdocs/may-2024/1716290553655.pdf