Parties to these Terms and Conditions:

i. Research Analyst: Neha Sondhi, a SEBI Registered Research Analyst, holding Registration No. INH000018920, having her office located at Sanpada, near Juinagar Railway Station, hereinafter referred to as the "Research Analyst" or "RA".

ii. Client: The individual or entity subscribing to or availing research services provided by the Research Analyst, hereinafter referred to as the "Client".

1. Availing the Services

The Client hereby accepts and agrees to avail the research services provided by the Research Analyst ("RA") at its own discretion, and the Research Analyst agrees to provide such services in accordance with the terms and conditions set forth herein.

2. Obligations of the Research Analyst and the Client

The Client and the Research Analyst shall be bound by all applicable laws, regulations, rules, circulars, and amendments issued by the Securities and Exchange Board of India (SEBI), including the SEBI (Research Analysts) Regulations, 2014, and any other notifications issued by the Government from time to time.

3. Client Information and KYC

Upon acceptance of the services, the Client shall submit all requisite documents as may be requested by the Research Analyst and shall cooperate with the Research Analyst ("RA") to complete the Know Your Customer (KYC) process.

The Client hereby gives consent to the Research Analyst to fetch the Client’s KYC documents from the KYC Registration Agency (KRA).

4. Standard Terms of Service

The Client acknowledges and consents to be bound by the terms set forth herein, together with any amendments or updates as may be provided by the Research Analyst from time to time.

The Client hereby agrees that:

1. 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 applicable fee structure.
2. The Client is subscribing to the research services for the Client’s own benefit and consumption, and any reliance placed on the research reports or recommendations provided by the Research Analyst shall be based solely on the Client’s own judgment and assessment.
3. All communications shall be conducted via WhatsApp, and it shall be the sole responsibility of the Client to review, understand, and verify all information provided by the Research Analyst.

The Client understands that:

• Any investment made based on the recommendations contained in the research reports is subject to market risks.
• The recommendations provided by the Research Analyst do not offer any assurance or guarantee of returns.
• The Client shall have no recourse to claim any losses incurred on investments made based on the recommendations provided by the Research Analyst.

Declaration by the Research Analyst

The Research Analyst hereby declares that:

1. The Research Analyst is duly registered with the Securities and Exchange Board of India (SEBI) as a Research Analyst, bearing Registration No. INH000018920.
2. The Research Analyst possesses the registration, qualifications, and approvals required to render the services contemplated under the SEBI (Research Analysts) Regulations, 2014, and the same are valid and subsisting.
3. The services provided by the Research Analyst do not conflict with or violate any applicable law, regulation, contract, or other instrument to which it is a party or by which it may be bound.
4. The maximum fee that may be charged by the Research Analyst shall not exceed ₹1.51 lakhs per annum per family of clients, in accordance with applicable SEBI regulations.
5. The recommendations provided by the Research Analyst do not provide any assurance or guarantee of returns.
6. The Research Analyst is not engaged in any additional professional or business activities in a full-time or executive capacity that may interfere with or influence the independence of the research reports and/or recommendations.

5. Consideration and Mode of Payment

1. The Client shall pay the fees to the Research Analyst ("RA") as per the invoice raised or any mutually agreed amount, whether in writing or orally, within two (2) days from the date of such invoice or agreement.
2. The Client agrees to make all payments only through UPI, net banking, payment gateway, or any other verified banking channel. No cash payments shall be accepted.
3. The Client shall make payments solely into the bank account of the Research Analyst. The Research Analyst shall not be liable for any payments made to any third-party account.

6. Risk Factors

The Client acknowledges that the services provided by the Research Analyst involve inherent market risks, and the Client agrees to bear full responsibility for any financial or other consequences arising from the use of such services.

Investments in the securities market are subject to market risks, including but not limited to the following:

• Trading in equities, derivatives, and other securities is subject to market risks, and there is no assurance or guarantee of returns.
• Past performance of any security or recommendation does not indicate or guarantee future performance.
• Research recommendations may not always be profitable, as actual market movements may differ from anticipated trends or analysis.
• The Research Analyst shall not be responsible or liable for any losses incurred by the Client as a result of acting upon the research recommendations.
• Investments in the securities market are subject to market risks. Clients are advised to read all related documents carefully before investing.
• Registration granted by SEBI, membership of BASL, and certification from NISM do not guarantee the performance of the intermediary nor provide any assurance of returns to investors.

7. Conflict of Interest

The Research Analyst ("RA") shall adhere to all applicable regulations, circulars, and directions issued by the Securities and Exchange Board of India (SEBI) from time to time with respect to the disclosure and mitigation of any actual or potential conflict of interest.

Without prejudice to the generality of the above, the following disclosures are made:

• The Research Analyst and its officers, employees, or associates do not trade in securities that are the subject matter of the recommendations.
• There are no actual or potential conflicts of interest arising out of any connection or association with any issuer of products or securities, including any material information or facts that may compromise the objectivity or independence of the Research Analyst in providing research services. Any such conflict, if it arises, shall be promptly disclosed to the Client.
• Neither the Research Analyst nor its employees or associates have received any compensation from any company that is the subject matter of the recommendations.

The Client is advised to refer to the detailed disclosures available on the Research Analyst’s website.

8. Termination of Service and Refund of Fees

This Agreement may be terminated by the Client in the event the Research Analyst ("RA") fails to provide the research recommendations as agreed. However, the Client shall not be entitled to terminate this Agreement solely on the grounds of non-achievement of desired returns, incurrence of losses, discontinuation of services without a valid reason, or due to the occurrence of any force majeure event.

The Research Analyst may suspend or terminate the provision of research services to the Client in the event of suspension or cancellation of its certificate of registration by the Securities and Exchange Board of India (SEBI), and shall refund the residual amount, if any, to the Client.

In the event of suspension of the certificate of registration of the Research Analyst for a period exceeding sixty (60) days, or in the event of cancellation of such registration, the Research Analyst shall refund the fees to the Client on a pro rata basis for the period commencing from the effective date of such suspension or cancellation until the expiry of the subscription period.

9. Grievance Redressal

In the event of any grievance relating to non-receipt of research reports, missing content, or deficiencies in services, the Client may raise a grievance with the Research Analyst. The Research Analyst shall ensure redressal of such grievance within seven (7) days from the date of receipt of the complaint.

Grievance Redressal Procedure:

1. Step 1 – Contact the Research Analyst:
   Contact No.: 9619058820
   Email ID: nehasondhi24@gmail.com
2. Step 2 – SEBI SCORES:
   If the Client is not satisfied with the resolution provided by the Research Analyst, the Client may lodge a complaint with the Securities and Exchange Board of India (SEBI) through the SCORES platform athttps://www.scores.sebi.gov.in.
3. Step 3 – Online Dispute Resolution (ODR):
   The Client may also seek resolution through the Online Dispute Resolution (ODR) mechanism via the SMART ODR Portal athttps://smartodr.in.

Disclaimer: The Client is strictly required to follow the grievance redressal procedure as set forth above. The Research Analyst shall not be liable for any delay in the resolution of grievances arising due to non-compliance with the prescribed procedure by the Client.

Note: Clients are advised to carefully read the Do’s and Don’ts for dealing with the Research Analyst as specified in SEBI Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, and any amendments or updates issued by SEBI from time to time. Clients are also requested to review all disclaimers, disclosures, refund policies, and other information as provided on the Research Analyst’s website.

10. Most Important Terms and Conditions

1. These terms and conditions and the consent provided herein are applicable solely to the research services rendered by the Research Analyst ("RA"). The RA shall not execute or carry out any trades (purchase or sale transactions) on behalf of the Client. Clients are advised not to permit the RA to execute any trades on their behalf.
2. The fees charged by the RA shall be subject to the maximum limits prescribed by the Securities and Exchange Board of India (SEBI) and the Research Analyst Administration and Supervisory Body (RAASB) from time to time, as applicable to Individual and Hindu Undivided Family (HUF) clients.
   • The current fee limit is ₹1,51,000/- (Rupees One Lakh Fifty-One Thousand only) per annum per family of clients.
   • The above fee limit excludes applicable statutory charges.
   • The fee limits shall not be applicable to non-individual clients or accredited investors.
3. The RA may charge fees in advance, subject to the Client’s consent. Such advance shall not exceed the period stipulated by SEBI, presently one (1) year. In case of premature termination, refund shall be limited to the unexpired period only.
4. Fees shall be paid via cheque, online bank transfer, UPI, payment gateway, or other verified banking channels. Cash payments are strictly prohibited. Clients may optionally use the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited.
5. The RA shall comply with all applicable SEBI and RAASB regulations concerning disclosure and mitigation of conflicts of interest and shall promptly inform the Client of any such conflict.
6. Any assured, guaranteed, or fixed return schemes are prohibited by law and shall not be offered by the RA.
7. The RA does not guarantee returns, profits, accuracy, or risk-free investments. All opinions are based on available data and assumptions as of the date of the research report.
8. Investments based on research recommendations are subject to market risks. No assurance of returns is provided, and no recourse shall lie for losses incurred.
9. SEBI registration, RAASB enlistment, and NISM certification do not guarantee performance or returns.
10. Grievance Redressal:

    Step 1: The Client shall first contact the Research Analyst using the details below:

    Designation	Contact Person	Contact No.	Email ID	Working Hours
    Customer Care	Neha Vijay Sondhi	9619058820	nehasondhi24@gmail.com	Mon–Fri, 10:00 AM – 6:00 PM
    Head of Customer Care	Neha Vijay Sondhi	9619058820	nehasondhi24@gmail.com	Mon–Fri, 10:00 AM – 6:00 PM
    Compliance Officer	Neha Vijay Sondhi	9619058820	nehasondhi24@gmail.com	Mon–Fri, 10:00 AM – 6:00 PM
    CEO	Neha Vijay Sondhi	9619058820	nehasondhi24@gmail.com	Mon–Fri, 10:00 AM – 6:00 PM
    Principal Officer	Neha Vijay Sondhi	9619058820	nehasondhi24@gmail.com	Mon–Fri, 10:00 AM – 6:00 PM

    Step 2: If unresolved, lodge a complaint on SEBI SCORES at www.scores.sebi.gov.in

    Step 3: Clients may also seek resolution via SMART ODR at https://smartodr.in

11. Clients must keep their contact details updated with the Research Analyst at all times.
12. The Research Analyst shall never ask for login credentials, passwords, or OTPs for trading, demat, or bank accounts. Clients must never share such information.

11. Optional Centralised Fee Collection Mechanism

There exists an optional Centralised Fee Collection Mechanism for Investment Advisers and Research Analysts (CeFCoM) for collection of fees. The Research Analyst has presently not opted for this mechanism. Upon the Research Analyst registering for CeFCoM, the said mechanism shall thereafter be made available to the Client for payment of fees.

12. Confidentiality

The Client shall maintain strict confidentiality and shall not disclose, share, or make available to any third party any confidential information that comes to the Client’s knowledge in connection with the research services, without the prior written consent of the Research Analyst ("RA"), except where such disclosure is required by law or regulation.

13. Dispute Resolution

No suit, prosecution, or other legal proceedings shall lie against the Research Analyst ("RA") for any damage caused or likely to be caused by anything done in good faith or intended to be done under the provisions of the Securities and Exchange Board of India (Research Analyst) Regulations, 2014.

Any dispute, difference, or claim arising between the Client and the Research Analyst in relation to the research services or this Agreement shall be resolved through arbitration or any other mutually agreed dispute resolution mechanism, in accordance with applicable laws, rules, and regulatory guidelines.

14. Severability

If any provision of these Terms and Conditions is held to be invalid, illegal, or unenforceable under applicable law, such provision shall be severed and the remaining provisions shall continue to remain in full force and effect, provided that the essential purpose of these Terms and Conditions is not thereby defeated.

15. Force Majeure

Neither party shall be held liable for any failure or delay in the performance of its obligations under these Terms and Conditions arising out of events beyond its reasonable control, including but not limited to acts of God, natural disasters, government actions, epidemics, system failures, or any other unforeseen events constituting force majeure.