1.1. Parties and Legal Framework

These Terms and Conditions ("T&C") constitute a binding agreement between you ("User"/ "Client") and Krishna Kumar Pathak ("Research Analyst"/"RA"), registered with the Securities and Exchange Board of India (SEBI) as per Registration No. INH300009914 and enlisted with BSE, governing your use and receipt of research, analysis, and related services offered through digital or physical channels. This Agreement complies with the SEBI (Research Analysts) Regulations, 2014 ("SEBI RA Regulations"), Securities and Exchange Board of India Act, 1992 ("SEBI Act"), and all applicable circulars, notifications, and regulatory directives.

1.2. Regulatory Compliance

By availing the services of the Research Analyst, you acknowledge and agree to abide by the prevailing laws, regulations, and SEBI guidelines as may be amended from time to time. The RA operates strictly in accordance with the SEBI RA Regulations, and all research, reports, and services provided are subject to regulatory scrutiny.

3.1. User Eligibility

By accepting these T&C, you confirm that you are:

• At least 18 years of age
• Legally competent to enter into a binding contract under the Indian Contract Act, 1872
• Not prohibited by law from using research analyst services

3.2. Acceptance

Your use of the RA's services, website, applications, or receipt of reports implies acceptance of these T&C, SEBI regulations, privacy policy, and all applicable disclaimers. If you disagree with any clause, you must discontinue usage.

4.1. Nature of Services

The RA provides research analysis, securities recommendations, general market outlook, and related services strictly as per SEBI RA Regulations. The scope may include:

• Research reports (equity, debt, macroeconomic)
• Investment strategy recommendations
• General market commentary and outlook
• Educational and informational material

4.2. No Portfolio Management or Distribution

The RA does not offer portfolio management, execution, trading, investment, or distribution services. All services are research-based, non-discretionary, and do not include handling or management of Client funds or securities.

5.1. SEBI Act Compliance

The RA fully complies with the SEBI Act, 1992, SEBI (Research Analysts) Regulations, 2014, and relevant circulars. All research and recommendations are prepared independently, with integrity and transparency.

5.2. Regulatory Disclosures

• Registration: Krishna Kumar Pathak is registered as a Research Analyst with SEBI (INH300009914) and enlisted with BSE (5590)
• Conflicts of Interest: Any actual or potential conflicts of interest, material or otherwise, shall be disclosed in research reports or communications as per SEBI rules
• Compensation: The RA is compensated only by the Client for research services and does not receive compensation from companies covered in the research unless expressly disclosed
• Ownership of Securities: The RA shall disclose any actual/beneficial ownership of 1% or more in the securities covered, as mandated by SEBI

5.3. Risk Disclosures

• Investment in securities markets is inherently risky. Past performance is not indicative of future returns
• Users are advised to make independent investment decisions after consulting with their registered financial advisor

6.1. Communication

The RA may deliver research and analysis through:

• Email, messaging apps, websites, mobile applications, or direct meetings

6.2. Accuracy and Timeliness

The RA strives for accuracy and timely delivery of research, but cannot guarantee or warrant uninterrupted, error-free, or real-time data dissemination.

6.3. No Guarantees

Research recommendations are based on publicly available information and best analytical practices. The RA does not guarantee any specific outcome, profit, or success from the use of research reports or recommendations.

7.1. Responsible Use

The User must:

• Use research and analysis solely for personal, non-commercial purposes
• Not reproduce, redistribute, resell, or exploit any part of the research or reports without prior written consent of the RA
• Provide accurate and up-to-date information as required for service delivery

7.2. Compliance with Laws

Users are responsible for their own compliance with applicable securities laws, rules, and regulations.

8.1. Fees

Service fees, if applicable, will be clearly communicated prior to the provision of research services. All fee structures comply with SEBI guidelines and do not include hidden charges.

8.2. Payment Terms

Payments shall be made through approved channels. Non-payment may result in suspension or termination of services.

8.3. Taxes

The User is responsible for all applicable taxes (including GST) as per Indian law. The RA will issue valid tax invoices for all paid services.

9.1. Privacy Policy

User information is collected, stored, and processed in accordance with the Privacy Policy, aligned with SEBI and IT Act requirements. Personal data will not be shared with third parties except as required by law or with user consent.

9.2. Confidentiality

All client data and personal information shall be treated as strictly confidential, except where disclosure is mandated by regulators or authorities.

10.1. Ownership

All research reports, analysis, data, website content, and proprietary material are the intellectual property of the RA and protected under Indian copyright laws.

10.2. Limited License

Users are granted a limited, non-transferable, non-exclusive license to access and use the research reports solely for personal, non-commercial purposes.

10.3. Restrictions

Any unauthorized use, reproduction, or distribution may result in legal action and termination of services.

11.1. Limitation of Liability

The RA shall not be liable for:

• Any direct, indirect, incidental, special, consequential, or punitive damages arising out of use or reliance on research reports
• Any loss resulting from investment decisions, trading, or financial losses incurred by Users
• Unforeseen circumstances, technical failures, or third-party errors beyond RA's reasonable control

11.2. Indemnification

The User agrees to indemnify and hold harmless the RA, affiliates, employees, and agents from any claims, losses, or liabilities resulting from breach of these T&C or violation of applicable laws.

12.1. General Disclaimer

• Investment in securities markets is subject to market risks. Please read all scheme and related documents carefully before investing
• The RA does not guarantee any return or capital protection
• All opinions, recommendations, and analysis are for informational and educational purposes only
• Past performance does not guarantee future results
• The User is solely responsible for investment decisions

12.2. SEBI Disclaimer (Recommended Wording)

"Registration granted by SEBI, and BSE enlistment, do not in any manner guarantee the performance of the Research Analyst or provide any assurance of returns to investors. The securities quoted, if any, are for illustration only and are not recommendatory. Investment in securities market is subject to market risks, read all related documents carefully before investing."

12.3. No Personalized Advice

The RA does not provide individually tailored investment advice, portfolio management, or distribution services. For personalized advice, consult a qualified, SEBI-registered financial advisor.

13.1. Redressal Mechanism

If you have any complaints, queries, or grievances regarding services, you may contact:

• Name: Krishna Kumar Pathak
• Email: skrishna.sk4@gmail.com
• Phone: +91 9883455700
• SEBI SCORES: You may also escalate unresolved grievances to SEBI through SCORES https://scores.sebi.gov.in

13.2. Resolution Timelines

The RA will endeavor to resolve all grievances within 30 days, in line with SEBI regulations.

14.1. Rights Ensured

• Right to Privacy and Confidentiality: Your personal and financial data will be protected
• Right to Transparent Practices: Fees, charges, and business practices will be transparently disclosed
• Right to Adequate Information: You will receive comprehensive information on research reports, disclaimers, and disclosures
• Right to be Heard: You have the right to present complaints and expect prompt redressal
• Right to Exit: You may discontinue services at any time, subject to refund and cancellation policy
• Right to Feedback: You may provide feedback or suggestions on services rendered

15.1. Termination by User

Users may terminate this agreement at any time by providing written notice. No refunds shall be provided for services already delivered.

15.2. Termination by RA

The RA reserves the right to terminate services for breach of these T&C, misuse of services, non-payment, or regulatory reasons.

16.1. Updates

These T&C may be updated from time to time in accordance with changes in laws, SEBI regulations, or business practices. Users will be notified of any material changes through the website or other communication channels.

17.1. Applicable Law

These T&C are governed by and construed in accordance with the laws of India.

17.2. Jurisdiction

Any disputes arising under or relating to these T&C shall be subject to the exclusive jurisdiction of the courts. e.g., Durgapur, West Bengal.

18.1. Severability

If any provision of these T&C is found invalid or unenforceable, the remaining provisions will remain in full force and effect.

18.2. Entire Agreement

These T&C constitute the entire agreement between the User and the RA regarding research services and supersede any prior understandings or agreements.

18.3. Contact Information

For questions regarding these T&C or services, contact: Krishna Kumar Pathak SEBI Registered Research Analyst (INH300009914) BSE Enlistment No- 5590.