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RAGHAV RESEARCH SERVICES LLP
Research Analyst
TERMS & CONDITIONS
1. Availing the research services:
By accepting delivery of the research service, the client acknowledges that they have voluntarily chosen to subscribe to the research services provided by the Research Analyst (RA). The RA affirms that the research services will be delivered in compliance with the applicable provisions of the RA Regulations.
2. Obligations on RA:
RA and client shall be bound by SEBI Act and all the applicable rules and regulations of SEBI, including the RA Regulations and relevant notifications of Government, as may be in force, from time to time.
3. Client Information and KYC
The client agrees to provide all necessary information in the format prescribed by the Research Analyst (RA), along with any supporting documents, as may be mandated by RAASB/SEBI from time to time. The RA shall be responsible for collecting, storing, uploading, and verifying the client’s KYC records with a KYC Registration Agency (KRA) as specified by SEBI, in accordance with applicable regulations.
4. Scope of Service:
You hereby agree and acknowledge that the RA provides research and analysis only and We do not execute trades on behalf of Clients, hold Clients’ funds, or provide any assured returns
You hereby agree and acknowledge that all investments carry market risk. Any past performance is not indicative of future returns, and the RA does not assure or promise any specific gain or outcome.
5. Legal Capacity
· Only individuals aged 18 years or older (and otherwise competent to contract) or legally incorporated entities may register.
· If You are a minor or otherwise incapacitated to enter into a contract, you are not permitted to use or subscribe to the Services.
· You hereby agree and acknowledge that You shall provide accurate and complete information for the purpose of KYC.
· RA shall verify and/or store such KYC in accordance with SEBI regulations.
· The RA may terminate or suspend Services if KYC requirements are not met as the applicable regulations or if the information provided is incomplete, false, or misleading.
6. Standard Terms of Service
By subscribing to the research services, the client affirms the following:
"I/We have read and fully 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 associated fee structure.
I/We acknowledge that we are subscribing to the research services for our own benefit and consumption, and any reliance placed on the research report provided by the research analyst is based on our own judgment and assessment of the conclusions drawn in the report.
Neither I nor any of my family members, as defined under Regulation 2(fc) of the SEBI (Research Analyst) Regulations, 2014, shall avail any distribution services from the Research Analyst.
No one other than me from my family s defined under Regulation 2(fc) of the SEBI (Research Analyst) Regulations, will avail any type of services from the RA.
I/We further understand and accept the following:
1) Any investments made based on the recommendations in the research report are subject to market risk. I will read all the related documents carefully before investing.
2) The recommendations in the research report do not guarantee any returns.
3) There shall be no recourse to claim for any losses incurred from investments made based on the research report’s recommendations."
Declaration of the Research Analyst (RA) that:
1) It is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: Registration No.: INH000020031, Date of Registration: 10/03/2025
2) The RA holds the necessary registration and qualifications to provide the services outlined under the RA Regulations, and the same are valid and subsisting;
3) The research analyst services offered by the RA do not conflict with, nor do they violate, any applicable law, rule, regulation, contract, or any other binding agreement to which the RA is a party or to which its property is, or may be.
4) The maximum fee that may be charged by RA is ₹1.51 lakhs per annum per family of client.
5) The recommendations provided by RA do not provide any assurance of returns.\
6) Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
7. Consideration and mode of payment
The client shall duly pay to RA, the agreed fees for the services that RA renders to the client and statutory charges, as applicable. Such fees and statutory charges shall be payable through the specified manner and mode(s)/ mechanism(s).
8. Risk Disclosure
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 shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
9. Conflict of interest
The Research Analyst operates in a fiduciary capacity toward the client, committed to full disclosure of all conflicts of interest as they arise. The Research Analyst shall not derive any direct or indirect benefit from the client’s securities or investment products. Any actual or potential conflicts of interest arising from connections or associations with issuers of products/securities will be promptly disclosed to the client. This includes providing any material information or facts that may compromise objectivity or independence in the provision of research advisory services
10.Termination of service and refund of fees
The Research Analyst (RA) reserves the right to suspend or terminate the provision of research services to the client in the event of suspension or cancellation of its registration by SEBI. In such cases, the RA shall refund the residual subscription amount to the client on a pro rata basis.
If the RA's certificate of registration is suspended for a period exceeding sixty (60) days or is cancelled, the RA shall refund the applicable fees proportionately for the remaining subscription period, calculated from the effective date of such suspension or cancellation.
11.Grievance Redressal
Any grievance related to:
(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 provided by RA,
shall be escalated promptly by the client to the person/employee designated by RA, in this behalf.
The RA shall be responsible to resolve grievances within 7 (seven) business working days or such timelines as may be specified by SEBI under the RA Regulations. RA shall redress grievances of the client in a timely and transparent manner
12.Additional clauses:
Any additional voluntary clauses introduced by the Research Analyst (RA) shall not conflict with the rules, regulations, or circulars issued by SEBI. Any modifications to such voluntary clauses or related documents shall be communicated to the client with a prior notice of 15 days.
13.Mandatory notice:
Client shall be requested to go through Do’s and Don’ts while dealing with RA 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 from time to time.
14. Most Important Terms and Conditions (MITC)
Ø 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 behalf.
Ø 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:
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.
Ø 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 quarter. 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.
Ø 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).
Ø The RA 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 endeavour to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
Ø 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.
Ø The RA 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.
Ø 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 shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
Ø The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
Ø For any grievances,
Step 1: the client should first contact the RA using the details on its website or following contact details:
1. Grievance Officer: Priyanshi Gola
Email: grievance@raghavresearch.com
Contact Number: 73029 83975
2. Compliance Officer: Abhilasha Garg
Email: rrsco@raghavresearch.com
Contact No: 73029 83976
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 https://smartodr.in
Ø Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
Ø The RA 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. The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
15.Limitation Of Liability
We shall not be liable for any direct, indirect, incidental, or consequential losses, including lost profits, due to Your reliance on Our research reports or model portfolios.
16.Optional Centralised Fee Collection Mechanism
The Research Analyst (RA) shall inform and guide clients about the optional ‘Centralised Fee Collection Mechanism for Investment Advisers and Research Analysts’ (CeFCoM), which is available for making fee payments to the RA.
17.Disclosures
The Client is advised to visit and thoroughly review all policies, disclosures, and disclaimers available on the official website of the Research Analyst. By signing this Agreement, it shall be deemed that the Client has had the opportunity to read, understand, and accept all such policies and disclaimers as published on the website. The Client confirms and agrees to be bound by the same
18.Force Majeure
Neither party shall be held liable for failure or delay in performance under this Agreement due to circumstances beyond their reasonable control, including but not limited to natural disasters, government actions, or other unforeseen events
19.Consent
The Client hereby provides consent, confirming that they have thoroughly reviewed and comprehended the terms and conditions of the research analysis services presented by the Research Analyst. This includes a clear understanding of the fee structure, as well as the mechanism for fee charging and payment. Furthermore, the Client acknowledges that, upon their written request to the Research Analyst, they were afforded the opportunity to pose questions and engage with individuals associated with the research analysis
DISCLAIMER
1. Investments in securities market are subject to market risks. Read all the related documents carefully before investing.
2. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
3. The fee is paid for research recommendations and is not refundable or cancellable under any circumstances.
4. We do not provide any guaranteed profit or fixed returns or any other services. We charge fixed fees and do not operate on any profit-sharing model.
5. Images shared are for illustration purposes only.
6. We are not responsible for any financial loss or any other loss incurred by the client.
7. Please be fully informed about the risk and costs involved in trading and investing. Please consult your investment advisor before trading. Trade only as per your risk appetite and risk profile.
8. Trading in options is risky due to its volatile nature. Upon accepting our service, you hereby accept that you fully understand the risks involved in trading.
9. We advise the viewers to apply their own discretion while referring to testimonials shared by the client. Past performances and results are no guarantee of future performance.
10. All recommendations shared are confidential and for the reference of paid members only. Any unapproved distribution of sensitive data will be considered as a breach of confidentiality and appropriate legal action shall be initiated.
11. The recommendations must not be used as a singular basis of any investment decision. The views do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing and trading. Our recommendations should not be construed as investment advice.
12. In case of any query, please email on datapointsresearch@gmail.com Be rest assured, our team will get back to you and resolve your query. Please state your registered phone number while mailing us.
13. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
14. The research analyst or research entity or his associate or his relative do not have financial interest in the subject company.
15. The research analyst or its associates or relatives, do not have actual/beneficial ownership of one per cent or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance.
16. The research analyst or his associate or his relative do not have any other material conflict of interest at the time of publication of the research report or at the time of public appearance.
17. The research analyst or its associates have not received any compensation from the subject company in the past twelve months.
18. The research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months.
19. The research analyst or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
20. The research analyst or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
21. The research analyst or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
22. The research analyst has not been engaged in market making activity for the subject company.
23. The research analyst has not served as an officer, director or employee of the subject company.
24. The research analyst did not receive any compensation or other benefits from the companies mentioned in the documents or third party in connection with preparation of the research documents. Accordingly, the research Analyst does not have any material conflict of interest at the time of publication of the research documents.
Please note:
If You disagree with any part of this Agreement or do not wish to be bound by the same, then please do not use the Platform in any manner.
© Copyright 2025 Raghav Research Services LLP