Terms & Conditions

These Terms & Conditions govern the research and recommendation services provided by ResearchAxis.in and set out the rights, responsibilities, and obligations of both the Client and the Research Analyst (“RA”). By subscribing to or availing any research service, the Client acknowledges having read, understood, and agreed to these Terms & Conditions.

A. Availing the Services

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

B. Obligations of the Research Analyst

The RA and the Client shall be bound by the SEBI Act, 1992, and all applicable rules, regulations, circulars, notifications, and guidelines issued by SEBI from time to time, including the SEBI (Research Analysts) Regulations, 2014.

C. Client Information & KYC

The Client shall furnish all such information and documents as may be required by the RA from time to time, including supporting documents, as prescribed by SEBI, RAASB, KRA, or any other regulatory authority.

The RA shall collect, store, upload, and verify KYC records of Clients with the KYC Registration Agency (“KRA”) in accordance with the requirements specified by SEBI from time to time.

D. Standard Terms of Service

The consent of the Client shall be taken on the following understanding:

• The Client has read and understood the terms and conditions applicable to a Research Analyst as defined under Regulation 2(1)(u) of the SEBI (Research Analysts) Regulations, 2014, including the fee structure.
• The Client is subscribing to the research services for their own benefit and consumption, and any reliance placed on the research reports provided by the RA shall be based on their own judgment and assessment of the conclusions contained therein.

The Client understands that:

• Any investment made based on the recommendations contained in a research report is subject to market risks.
• Recommendations contained in a research report do not provide any assurance of returns.
• There is no recourse to claim losses incurred on investments made based on recommendations contained in a research report.

The RA declares that:

• It is duly registered with SEBI as a Research Analyst under Registration No. INH000025638 (Registration Date: 27.03.2026).
• It possesses the registrations, qualifications, and certifications required to render services contemplated under the SEBI (Research Analysts) Regulations, 2014, and the same are valid and subsisting.
• The research analyst services provided by it do not conflict with or violate any provision of law, rule, regulation, contract, or other instrument to which it is a party.
• The maximum fee that may be charged by the RA is Rs. 1.51 lakh per annum per client family, as prescribed by SEBI from time to time.
• Recommendations provided by the RA do not provide any assurance of returns.

Additionally, where the RA is an individual:

• The RA is not engaged in any professional or business activity on a whole-time basis or in an executive capacity that may interfere with, influence, or have the potential to influence the independence of research reports and recommendations.

E. Consideration & Mode of Payment

The Client shall pay the agreed fees and applicable statutory charges for the research services rendered by the RA. Such fees and charges shall be payable through the modes and mechanisms specified by the RA from time to time.

F. Risk Factors

The Client acknowledges that investments in securities are subject to market risks, including volatility and the potential loss of capital. Past performance is not indicative of future results, and no returns are guaranteed.

G. Conflict of Interest

The RA shall adhere to all applicable regulations, circulars, and directions issued by SEBI from time to time concerning disclosure and mitigation of actual or potential conflicts of interest.

The RA shall disclose conflicts of interest as required by applicable regulations and take reasonable steps to mitigate or avoid such conflicts. Relevant disclosures, where required, shall be made in research reports or at the time of providing recommendations.

The Client is advised to review all policies, disclosures, disclaimers, and regulatory information available on the official website of ResearchAxis.in. By accepting these Terms & Conditions, the Client acknowledges having had the opportunity to read and understand such documents and agrees to be bound by them.

H. Termination of Services & Refund of Fees

The RA may suspend or terminate research services in the event of suspension or cancellation of its registration by SEBI and shall refund any residual fees on a pro-rata basis in accordance with applicable regulations.

The RA may also suspend or terminate services where the Client breaches these Terms & Conditions or where otherwise permitted by law.

In the event of suspension of the RA registration for more than sixty (60) days or cancellation of registration, fees shall be refunded on a pro-rata basis from the effective date of suspension or cancellation until the end of the subscription period.

I. Grievance Redressal & Dispute Resolution

Any grievance relating to:

• Non-receipt of research reports.
• Missing pages or inability to download the complete report.
• Any other deficiency in the research services provided by the RA.

shall be escalated promptly to:

The RA shall endeavour to resolve grievances within seven (7) business days or within such timelines as may be specified by SEBI from time to time.

If unresolved, the Client may lodge a complaint through the SEBI SCORES platform or seek dispute resolution through the SMART ODR Portal in accordance with the applicable SEBI regulations and circulars.

Any dispute between the RA and the Client may be resolved through arbitration or such other dispute resolution mechanisms as may be specified by SEBI from time to time.

J. Additional Clauses

Any voluntary clause contained in this Agreement shall not conflict with applicable SEBI regulations, circulars, or directions. Any modification to such voluntary clauses shall be preceded by at least fifteen (15) days’ prior notice to the Client.

These Terms & Conditions shall be governed by and construed in accordance with the laws of India and the applicable provisions of the SEBI (Research Analysts) Regulations, 2014, as amended from time to time.

K. Mandatory Notice

The Client is advised to read the Do’s and Don’ts while dealing with a Research Analyst as specified by SEBI under the applicable Master Circulars and as amended from time to time.

L. Most Important Terms & Conditions (MITC)

The RA shall disclose the Most Important Terms & Conditions (MITC) as standardized by the Industry Standards Forum in consultation with SEBI and RAASB.

The Client acknowledges that research services are advisory in nature. The RA cannot execute, carry out, or undertake any purchase or sale transaction on behalf of the Client. The Client is advised not to authorize or permit the RA to execute any trade on their behalf.

M. Optional Centralized Fee Collection Mechanism

The RA shall provide guidance regarding the optional Centralized Fee Collection Mechanism for Investment Advisers and Research Analysts (CeFCoM), where applicable, for payment of fees by Clients.