SEBI Registered Research Analyst · Reg. No. INH000022251 · Registration is not a guarantee of returns
Vanshika Dutt SEBI Registered Research Analyst

Important Terms & Conditions

Please read these Terms carefully before subscribing to or using our Services. By accessing or using our Services, you agree to be bound by these Terms.

1. Introduction

1.1 Parties

  • Research Analyst (“RA,” “We,” “Our,” or “Us”) — Registered with the Securities and Exchange Board of India (SEBI) under Registration No. INH000022251 valid as of July 30, 2025. Registered Name: VANSHIKA DUTT. Our BSE Enlistment Number is 6680. Subject to all rules and regulations framed by SEBI, including the SEBI (Research Analysts) Regulations, 2014, as amended.
  • Client or User (“You,” “Your,” or “Client”) — the individual or entity subscribing to or availing research services. Must meet the eligibility requirements set forth herein and under Indian law.

1.2 Purpose

These Terms & Conditions (“T&C”) govern the Client’s use or subscription of our research services (“Services”), including any digital platforms, mobile/web applications, or technology solutions that we or our service provider(s) operate.

1.3 Compliance with SEBI Circular

This document incorporates the minimum mandatory provisions contained in the SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025 (“the Circular”) and relevant amendments to the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”). In case of conflict between these T&C and any applicable regulations/guidelines issued by SEBI, the SEBI regulations/guidelines shall prevail.

2. Client Details

Before availing of our Services, the Client agrees to provide the following personal details as part of the registration process and Know Your Client (“KYC”) compliance:

  • Full Name
  • Permanent Account Number (PAN)
  • Date of Birth
  • Email Address
  • State/City

You affirm that all details provided are true, accurate, and complete. Inaccurate or incomplete information may result in suspension or termination of your access to our Services.

3. Definitions

  • “Client” or “User”: any person or entity that registers with the RA and agrees to these T&C to avail the Services.
  • “Services”: includes (a) research reports, data, model portfolios, recommendations or analyses pertaining to Indian-listed securities; (b) any online or offline research support; (c) any communications related thereto.
  • “Digital Platform”: includes websites, mobile or web applications, or other technology platforms (including third-party service providers) used for delivering the Services.
  • “KYC”: Know Your Customer — verification process mandated by SEBI (and other applicable laws) to establish the identity of Clients.

4. Scope of Services

4.1 Research-Only / No Execution

The RA provides research reports, recommendations, model portfolios, analysis and related content about Indian-listed securities. We do not execute trades on behalf of Clients, hold Clients’ funds, or provide any assured returns. You retain full control and discretion over any investment decision.

4.2 Model Portfolios

Where offered, our model portfolios are recommendations for basket(s) of securities with weightages. Such recommendations are for informational purposes and do not guarantee performance or returns. We will maintain compliance with SEBI’s model portfolio guidelines (per the Circular’s Annexure-A).

4.3 Use of Artificial Intelligence (AI)

If we use AI tools (in whole or part) to generate or support research outputs, we remain solely responsible for the quality, accuracy, security, and confidentiality of data, and shall disclose the extent of AI usage to the Client when providing Services (or whenever material changes occur).

4.4 No Guarantee of Returns

All investments or trading carry market risk. Past performance is not indicative of future returns, and the RA does not assure or promise any specific gain or outcome. We do not offer any profit-sharing model or assure any returns.

5. Eligibility

5.1 Legal Capacity

Only individuals aged 18 years or older (and otherwise competent to contract) or legally incorporated entities may register. If you are a minor or otherwise incapacitated to contract, you are not permitted to use or subscribe to the Services.

5.2 KYC Compliance

Clients must provide accurate and complete information for KYC. The RA shall verify or store such KYC in accordance with SEBI regulations, and may terminate or suspend Services if KYC requirements are not met or if the information provided is incomplete, false, or misleading.

6. Registration & Accounts

6.1 Registration Process

To access our paid Services, Clients must complete the registration form, provide all mandatory details, and accept these T&C. The RA reserves the right to reject or cancel registration if the information is incorrect or if the Client is ineligible under law.

6.2 Security of Credentials (If Applicable)

Keep login information (username, password, etc.) confidential, if any. You are liable for unauthorized use of your account due to negligence or sharing of credentials, and must notify us immediately if you suspect any breach.

6.3 Use of Services

You shall not reproduce, distribute, copy, sell, or exploit our research content without express written consent from the RA. Any unauthorized use is grounds for termination of Services and may lead to legal action.

7. Fees & Payment

7.1 Maximum Fee for Individual/HUF Clients

Per Regulation 15A of the RA Regulations and the Circular, we may charge fees up to INR 1,51,000 (Rupees One Lakh Fifty-One Thousand) per annum per “family of client” (for individual and HUF clients). This amount excludes any statutory taxes and charges, and may be revised in line with the Cost Inflation Index or as specified by SEBI / RAASB every three years.

7.2 Fees for Non-Individual or Accredited Investors

For corporates, institutions, or accredited investors, fees may be negotiated bilaterally without the above limit, subject to fairness and reasonableness.

7.3 Billing & Mode of Payment

Payment shall be made through recognized modes: NEFT, IMPS, payment gateways, CeFCoM, cheque, UPI or any other method communicated by us. Fees may be charged quarterly or yearly in advance, subject to the advance limit mandated by SEBI. See our Valid UPI Handle page to verify official payment details.

7.4 Refund Policy

If our SEBI registration is suspended for more than sixty (60) days or canceled, we shall refund the subscription fees to you on a pro-rata basis for the remaining period of the subscription. No “breakage” fee or penalty shall be imposed. See our full Refund Policy.

8. Mandatory Terms & Conditions (as per SEBI Circular Annexure-B)

Below are the minimum mandatory terms required by the Circular, integral to our agreement with you:

  • 8.1 Availing the Research Services — by subscribing to or otherwise using our research Services, you confirm you do so at your sole discretion, rendered in accordance with the applicable SEBI (Research Analysts) Regulations, 2014.
  • 8.2 Obligations on RA — both RA and Client agree to be bound by the SEBI Act, SEBI (RA) Regulations, and all rules/regulations/circulars in force from time to time.
  • 8.3 Client Information & KYC — you shall furnish all required details for KYC in the form mandated by SEBI/RAASB.
  • 8.4 Standard Terms of Service — by giving consent to these T&C, you acknowledge and accept the RA’s fee structure and disclaimers, and confirm reliance on research recommendations is at your own risk.
  • 8.5 Consideration & Mode of Payment — you shall pay the agreed fees plus any statutory charges via permissible methods; we will not render research services until consent is received and initial fees are paid, as applicable.
  • 8.6 Risk Factors — investing in securities is subject to market risk, including volatility and potential loss of principal; no return is guaranteed.
  • 8.7 Conflict of Interest — we will disclose any conflicts of interest as mandated by SEBI, and take steps to mitigate or avoid them.
  • 8.8 Termination of Service & Refund of Fees — if our registration is suspended or canceled by SEBI, we shall refund any residual amount for the unexpired subscription period.
  • 8.9 Grievance Redressal & Dispute Resolution — for any service-related issues, email vanshikadutt27@gmail.com. See our full Grievance Redressal page.
  • 8.10 Mandatory Notice — clients must refer to the Do’s and Don’ts while dealing with RAs as specified by SEBI (e.g., SEBI Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024).
  • 8.11 Additional Clauses — any additional voluntary clauses in this T&C shall not conflict with SEBI regulations/circulars, and any changes shall be preceded by 15 days’ notice.
  • 8.12 Most Important Terms and Conditions (MITC) — see our Client Consent / MITC page.
  • 8.13 Optional Centralised Fee Collection Mechanism (CeFCoM) — if and when available, we will inform you of the optional CeFCoM to facilitate fee payment.

9. Representations & Warranties

9.1 RA’s Declarations

The RA declares that it is duly registered under the SEBI (Research Analysts) Regulations, 2014. Name of the RA: VANSHIKA DUTT. SEBI Registration Number: INH000022251. Date of Registration: July 30, 2025. The RA meets or exceeds the qualification and certification requirements mandated by SEBI or NISM, and its recommendations do not provide any assurance of returns.

9.2 Client’s Declarations

You represent that you are legally entitled to enter this Agreement and that your KYC details are true and correct, and that you understand the nature of market risks and volatility inherent in securities investments.

10. Confidentiality & Data Protection

We respect your privacy and will not share or disclose your personal data except as required by law or to fulfill regulatory obligations (e.g., KYC checks). We may share aggregated or anonymized data for research or compliance purposes, without revealing individual identities. See our full Privacy Policy.

11. Limitation of Liability

We shall not be liable for any direct, indirect, incidental, or consequential losses, including lost profits, due to your reliance on our research reports, recommendations or model portfolios. The RA is not liable for failures or delays in performance arising from events beyond its control, including natural disasters, war, riots, pandemics, power outages, or telecommunication disruptions. We rely on third-party market data providers and do not guarantee the correctness of such data.

12. Indemnification

You agree to indemnify and hold harmless the RA, its officers, employees, and affiliates from any and all claims, damages, losses, or liabilities arising out of your breach of these T&C or violation of law, unauthorized or improper use of your account or services, or third-party claims related to your actions or inactions.

13. Suspension & Termination

We reserve the right to suspend your account or access to Services with or without notice if you breach these T&C or if required by SEBI/regulators. We may terminate this Agreement immediately upon a violation of these T&C, directions from SEBI or any competent regulatory authority, or non-payment of fees beyond any grace period. Refunds, if any, are governed by Section 7.4 above.

14. Grievances & Dispute Resolution

For any concerns, complaints, or grievances, please email vanshikadutt27@gmail.com. If you are not satisfied with the resolution, escalate the matter to our designated Grievance Officer, Vanshika Dutt (Email: vanshikadutt27@gmail.com, Phone: +91 99584 29199). We aim to resolve grievances within 7 business days or as per the timeline mandated by SEBI. If unresolved, you may approach SEBI’s SCORES platform or seek redressal through the SMART ODR dispute resolution mechanism. See our full Grievance Redressal page.

15. Miscellaneous

15.1 Amendments

We may modify or update these T&C in accordance with SEBI regulations. Notice of material changes will be posted on our website/app or emailed to you. Continued use of the Services indicates your acceptance of updated T&C.

15.2 Severability

If any provision is held invalid by a competent authority, the remaining provisions shall continue in effect.

15.3 Governing Law & Jurisdiction

These T&C shall be governed by and construed in accordance with the laws of India, and any disputes shall be subject to the exclusive jurisdiction of the courts/tribunals in Delhi or as directed by SEBI.

15.4 No Agency

Nothing in these T&C shall be deemed to constitute a partnership, agency, or joint venture between the RA and the Client.

15.5 Disclaimer

Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Investing in stocks/ETFs is subject to market risks. Read all related documents carefully before investing. Consult a qualified financial advisor to understand suitability.