1) DEFINITIONS:
The parties referenced in these Terms of Service are defined as follows:
a) Owner, Us, We: The Owner, serving as the Research Analyst, offers Research Services on securities to users. Terms such as AT RESEARCH & RISK MANAGERS, Owner, Us, We, Our, Ours, and other first-person pronouns refer to the Owner and all employees and affiliates associated with the Owner.
b) You, the User, the Client: As the user of the Research Services, you will be identified throughout these Terms of Service with second-person pronouns like You, Your, Yours, or as User or Client. In this context, “User” or “you” denotes any individual or legal entity accessing the Research Services.
c) Parties: Collectively, the Owner and you will be referred to as Parties in these Terms of Service.
2) ASSENT & ACCEPTANCE:
By utilizing the Research Services, you confirm that you have read and understood these Terms of Service and agree to adhere to them. If you do not accept these Terms of Service, please request a refund immediately (if applicable). The owner will provide access to the Research Services only if you agree to these Terms. Additionally, depending on the services obtained by a User, further terms and conditions may apply, which will be seen as an agreement between Users and the Owner.
3) AVAILING THE RESEARCH SERVICES:
By accepting the delivery of the research service, the client confirms their choice to subscribe to the research service of “RA AT RESEARCH & RISK MANAGERS: INH000013794″ at their discretion. The service “RA AT RESEARCH & RISK MANAGERS: INH000013794″ affirms that research services will be delivered in compliance with the relevant provisions of the RA Regulations.
4) OBLIGATIONS ON RA:
“RA AT RESEARCH & RISK MANAGERS: INH000013794″ and the client are required to comply with the SEBI Act and all applicable SEBI rules and regulations, including the RA Regulations and relevant government notifications, as they may be updated from time to time.
5) CLIENT INFORMATION AND KYC:
The client must provide all necessary details in full as required by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ in its standard format, along with any supporting documentation mandated by RAASB/SEBI. “RA AT RESEARCH & RISK MANAGERS: INH000013794″ will collect, store, upload, and verify KYC records of clients with the KYC Registration Agency (KRA) as directed by SEBI periodically.
6) STANDARD TERMS OF SERVICE:
The client’s consent will be obtained based on the following understanding:
“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.
I/We are subscribing to the research services for our own benefit and consumption; any reliance on the research report provided by the research analyst will be based on our own judgment and assessment of the conclusions within the report.
I/We understand that –
i. Investments based on recommendations in the research report are subject to market risk.
ii. Holding positions without stop-loss or target may lead to significant losses in unfavorable market conditions or company events.
iii. Market risks may result in partial or total loss of investments under certain conditions.
iv. Registration by SEBI and certification from NISM do not guarantee the performance of the intermediary or assure returns to investors.
v. Past performance is not indicative of future results.
vi. Recommendations in the research report do not guarantee returns.
vii. “There is no avenue for claiming losses incurred based on the recommendations in the research report.”
DECLARATION FROM “RA AT RESEARCH & RISK MANAGERS: INH000013794″:
i. “RA AT RESEARCH & RISK MANAGERS: INH000013794″ is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts) Regulations, 2014, and its registration details are:
Registration Name: AT RESEARCH & RISK MANAGERS
Registration Number: INH000013794
Registration Date: 30-November-2023
Trade Name for Research Services: AT RESEARCH & RISK MANAGERS
Website for Research Services: https://bsestocks.com/
ii. “RA AT RESEARCH & RISK MANAGERS: INH000013794″ holds valid registration and qualifications necessary to provide the services outlined in the RA Regulations, which remain valid and active.
iii. Services provided by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ do not conflict with or violate any laws, rules, regulations, contracts, or other agreements to which it is bound or to which its property is subject.
iv. The maximum fee charged by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ is ₹1.51 lakhs per annum per family of clients.
v. Recommendations made by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ do not guarantee returns.
7) CONSIDERATION AND MODE OF PAYMENT:
The client shall promptly pay “RA AT RESEARCH & RISK MANAGERS: INH000013794” the agreed fees for the services rendered, along with any applicable statutory charges. Such fees and charges will be payable through specified methods and mechanisms.
i. For services details and charges, please visit our website: https://bsestocks.com/
ii. Refunds will be processed as per SEBI guidelines on a pro-rata basis of unused services.
8) TERMS AND CONDITIONS FOR RA SERVICES MENTIONED ABOVE:
a. You will receive 1-15 research recommendations each month.
b. The number of recommendations may vary based on market conditions.
9) RISK FACTORS:
(A statement covering standard risks associated with investment in securities will be included here by RA AT RESEARCH & RISK MANAGERS: INH000013794)
Investing in securities carries several risks that could negatively impact your investments or portfolio:
• Market Risk: Fluctuations in market conditions can affect revenue and profitability.
• Financial Risk: Changes in currency and interest rates can impact financial results.
• Operational Risk: Natural disasters or disruptions can lead to production delays and losses.
• Regulatory Risk: Changes in regulations or legal actions can affect business operations.
• Competition Risk: Intense competition can result in pricing pressures and reduced market share.
• Technology Risk: Cybersecurity breaches or technology failures can compromise data security.
• Supply Chain Risk: Disruptions caused by supplier issues can affect production.
• Environmental and Sustainability Risk: Non-compliance with regulations can harm the business.
• Credit Risk: Economic downturns or borrower defaults can lead to loan losses for financial institutions.
• Litigation Risk: Ongoing legal proceedings can result in financial liabilities.
MARKET RISKS WARNING: Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.
LOSS POSSIBILITY WARNING: Market risks may lead to partial or total loss of investments under certain market conditions.
Risks in Futures and Options Trading are VERY HIGH
SEBI REGISTRATION: Registration granted by SEBI and certification from NISM do not guarantee performance by the intermediary or assure returns to investors.
PAST PERFORMANCE WARNING: Past performance is not indicative of future results.
NO WARRANTIES WARNING: The Research Analyst does not guarantee the accuracy or results of recommended securities.
EXERCISE CAUTION WARNING: “RA AT RESEARCH & RISK MANAGERS: INH000013794″ provides research analysis and specific securities recommendations but does not offer portfolio management services, personal account handling, profit sharing, or risk-profiling-based investment advisory services.
10) CONFLICT OF INTEREST:
“RA AT RESEARCH & RISK MANAGERS: INH000013794″ complies with all applicable regulations, circulars, and directives from SEBI regarding the disclosure and mitigation of any actual or potential conflict of interest.
11) TERMINATION OF SERVICE AND REFUND OF FEES:
Disclosure that “RA AT RESEARCH & RISK MANAGERS: INH000013794″ may suspend or terminate research services to clients due to suspension or cancellation of the RA’s registration by SEBI, and will refund any remaining amount to the client.
If the certificate of registration of “RA AT RESEARCH & RISK MANAGERS: INH000013794″ is suspended for over 60 days or canceled, the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ will refund the fees on a pro-rata basis for the duration from the effective date of cancellation/suspension to the end of the subscription period.
If services are terminated prematurely as outlined, consideration, and mode of payment, the fees for research services are non-refundable.
If a client choose not to continue with the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ services, the fee for one month will not be refunded under any circumstances due to various costs and factors related to portfolios and securities. Thus, it is not feasible to refund the entire fee.
For example, after subscribing to any “RA AT RESEARCH & RISK MANAGERS: INH000013794″ services, investors gain access to both current and historical securities.
12) GRIEVANCE REDRESSAL AND DISPUTE RESOLUTION:
Any grievances regarding:
i. Non-receipt of research reports
ii. Missing pages or inability to download the complete report
iii. Deficiencies in the research services provided by “RA AT RESEARCH & RISK MANAGERS: INH000013794”
Must be promptly escalated to the designated person/employee:
Designated Person/Employee Name: Aditya Thukral
Email ID: aditya.thukral423@gmail.com
Phone: +91 9066795009
“RA AT RESEARCH & RISK MANAGERS: INH000013794” will address grievances within 7 business working days or within timelines specified by SEBI under the RA Regulations.
Grievances will be resolved in a timely and transparent manner. Disputes may be resolved through arbitration or any methods specified by SEBI from time to time.
SEBI Resources:
SCORES Link: https://scores.sebi.gov.in/
SEBI ODR Link: https://smartodr.in/
SEBI Toll-Free Number: 1800 22 7575 or 1800 266 7575
SEBI Office Addresses: https://www.sebi.gov.in/contact-us.html
13) ADDITIONAL CLAUSES:
All additional voluntary clauses added by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ must comply with SEBI’s rules, regulations, and circulars. Any changes to such voluntary clauses/documents will be preceded by a notice of 15 days.
Some voluntary clauses for “RA AT RESEARCH & RISK MANAGERS: INH000013794″include:
a. Research service fees paid are non-refundable or refundable with the conditions mentioned above or as per SEBI guidelines.
b. Any changes or updates to the terms and conditions will be communicated to you in advance for your approval.
14) MANDATORY NOTICE:
Clients are encouraged to review the Do’s and Don’ts while dealing with “RA AT RESEARCH & RISK MANAGERS: INH000013794″ as specified in SEBI master circular no. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, or as may be specified by SEBI subsequently.
Do’s and Don’ts website link: https://www.bsestocks.com/investor-charter
15) MOST IMPORTANT TERMS AND CONDITIONS (MITC):
i. These terms and conditions, and consent thereon are for the research services provided by the Research Analyst – “RA AT RESEARCH & RISK MANAGERS: INH000013794″ and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.
ii. The fee charged by “RA AT RESEARCH & RISK MANAGERS: INH000013794″ to the client will be subject to the maximum of amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).
2.1. The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
2.2. The fee limit does not include statutory charges.
2.3. The fee limits do not apply to a non-individual client / accredited investor.
iii. “RA AT RESEARCH & RISK MANAGERS: INH000013794″ may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one quarter. In case of premature termination of the RA services by either the client or the RA, the client shall be entitled to seek a refund of proportionate fees only for the unexpired period.
iv. Fees to “RA AT RESEARCH & RISK MANAGERS: INH000013794″ may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally, the client can make payments through Centralized Fee Collection Mechanism – CeFCoM managed by BSE Limited i.e. currently recognized RAASB.
v. The “RA AT RESEARCH & RISK MANAGERS: INH000013794″ is required to abide by the applicable regulations/ circulars/ directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
vi. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the “RA AT RESEARCH & RISK MANAGERS: INH000013794″.
vii. The “RA AT RESEARCH & RISK MANAGERS: INH000013794″ cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
viii. Any investment made based on recommendations in research reports are subject to market risks, and recommendations 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. Any reliance placed on the research report provided by the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
ix. The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ or assure any returns to the client.
x. For any grievances,
Step 1: The client should first contact the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ using the details on its website: https://bsestocks.com/ or via email at aditya.thukral423@gmail.com.
Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in.
Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at www.smartodr.in.
xi.Clients are required to keep contact details, including email id and mobile number/s updated with the “RA AT RESEARCH & RISK MANAGERS: INH000013794″ at all times.
xii.The “RA AT RESEARCH & RISK MANAGERS: INH000013794″ shall never ask for the client’s login credentials and OTPs for the client’s Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.
16) OPTIONAL CENTRALISED FEE COLLECTION MECHANISM:
Centralized Fee Collection Mechanism (CeFCoM): This initiative by SEBI aims to ensure that investor payments are securely directed to legitimate SEBI-registered advisors rather than elsewhere.
a. It enables investors to track all payments made to SEBI-registered advisors.
Investors can request a link for the Centralized Fee Collection Mechanism (CeFCoM) from registered Research Analysts and can make payments using various methods.
17) THE USE OF AI TOOLS IN RESEARCH AND ADVISORY SERVICES INVOLVES SEVERAL KEY POINTS:
• Our Recommendations are based on technical and fundamental analysis.
• Our Responsibility for client data security, confidentiality, and compliance is upheld on the use of AI.
• AI trading risks include system vulnerabilities that can amplify errors.
• Handling sensitive data poses privacy and security risks, including potential breaches.
• Concerns include biased outputs, privacy violations, lack of transparency, data quality issues, and misleading results from poor data.
• Severe data glitches may result in significant losses related to your security or portfolio.
18) CLIENT-LEVEL SEGREGATION OF RESEARCH AND DISTRIBUTION ACTIVITIES:
The “RA AT RESEARCH & RISK MANAGERS: INH000013794″ mandates client-level segregation of research and distribution activities per Regulation 26C(5) of RA Regulations.
Existing clients cannot access both services within the same group/family of the RA. New clients can choose either research or distribution services at on-boarding, but not both.
19) MODEL PORTFOLIO BY RESEARCH ANALYST:
“RA AT RESEARCH & RISK MANAGERS: INH000013794″ will adhere to the Research Analysts’ Guidelines for recommending a ‘model portfolio’ whenever necessary.
20) JURISDICTION, VENUE & GOVERNING LAW:
Through your use of the website: https://bsestocks.com/ or services, you agree that the laws of SEBI shall govern any matter or dispute relating to Service, as well as any dispute of any kind that may arise between You and the Owner. In case any litigation specifically permitted under these Service is initiated, the Parties agree to submit to the exclusive jurisdiction of the courts at Ludhiana, Punjab, India. The Parties agree that this choice of law, venue, and jurisdiction provision is not permissive, but rather mandatory in nature.
21) AMENDMENTS:
We may modify or update these T&C in accordance with SEBI regulations. Notice of material changes will be posted on our website or emailed to you. Continued use of the services indicates your acceptance of updated T&C.
22) INDEMNIFICATION:
You agree to protect the RA, its officers, employees, and affiliates from any claims, damages, losses, or liabilities arising from:
Your breach of these terms or violation of the law.
Unauthorized or improper use of your account.
Third-party claims related to your actions or inactions.
23) SUSPENSION & TERMINATION
Suspension:
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.
Termination:
Violation of T&C by you.
Directions from SEBI or any competent regulatory authority.
Non-payment of fees (beyond the grace period, if any).
Refunds (if any).