Terms and Conditions of Research Analyst Services

ANAND KUMAR TANTIA (“Research Analyst” or ‘RA”), is SEBI Registered Research Analyst bearing Registration No. INH100003381, enlisted with Research Analyst Administration and Supervisory Body (RAASB) - BSE Limited having its Enlistment No. as 5200.

Pursuant to SEBI (Research Analysts) Regulations, 2014, applicable Guidelines, Master Circular and circulars issued thereunder.

Terms & Conditions and Undertakings:

This document outlines the mandatory terms and conditions governing the relationship between the client (as detailed in Schedule 1) and the Research Analyst (RA). By subscribing to or availing of research services provided by the RA, the client confirms their acceptance of these terms and conditions at their sole discretion.

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

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

• “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 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.”
• “I/We understand that:

i. Any investment made based on the recommendations in the research report are subject to market risk.

ii. Recommendations in the research report do not provide any assurance of returns.

iii. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report”

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

i. It is duly registered with SEBI as an RA under the SEBI (Research Analysts) Regulations, 2014 and its registration details are:

• Registration number: INH100003381
• Registration date: 30.08.2016

ii. 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;

iii. The services provided do not conflict with or violate any applicable law or agreement.

iv. The maximum fee charged by the RA is 1.51 lakhs per annum per family of clients.

v. Recommendations provided by the RA do not provide any assurance of returns.

vi. 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 in Services.
• The subscription fees shall be paid in advance, provided the advance amount is not more than that for a period of one year, 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 ‘Centralised Fee Collection Mechanism (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.

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 and
• 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-

i. Non-receipt of research report, or

ii. Missing pages or inability to download the entire report, or

iii. Any other deficiency in the research services provide by RA

• Contact details of designated person for escalation of grievances are as below-

i. Name - ANAND KUMAR TANTIA

ii. Email - at.tantia@gmail.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

11. Disclosure as part of MITC for the clients

“The terms and conditions and the consent thereon are for the research services provided by the RA and RA cannot execute/ carry out any trade (purchase/ sell/ transaction) on behalf of the client. Thus, you are advised not to permit PA to execute any trade on your behalf.”

12. Optional Centralized Fee Collection Mechanism

Clients may choose to utilize the Centralized Fee Collection Mechanism (CeFCoM) for fee payments, as made available by SEBI.

If client wants to opt for ‘Centralised Fee Collection Mechanism (CeFCoM)’, an email request for the same may be sent to RA for processing of same. Guidance on the process will be provided by the RA.

13. Most Important Terms and Conditions (MITC)

These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) 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

The fee charged by RA 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).

Note:

• The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
• The fee limit does not include statutory charges.
• The fee limits do not apply to a non-individual client / accredited investor.
• RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one year. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.
• Fees to RA 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).