1. Cases Where Refund Will NOT Be Provided

Inability of the RA to Provide Services for reason beyond his control:

If the RA fails to provide research reports, updates, or services as agreed in the terms of service or If technical issues, operational failures, or any other reasons prevent the RA from delivering research reports.

In such case No Refund shall be provided. However, the service period may be extended at the sole discretion of Research analyst, if disruption exceeds xxxx days

Force Majeure Events:

Refunds will not be applicable if services are disrupted due to events beyond the control of the RA, such as natural disasters, pandemics, or other force majeure events, provided such exclusions are included in the service agreement.

Completion of Subscription Period:

If the client has used the research services for the full subscription period, no refund will be granted.

Partially Utilized Services Without Formal Termination:

If the client stops using the research services but does not formally request termination in writing along with reason for termination, the RA is not obligated to process a refund. Written Notice with reasons for termination must be given minimum 10 days before the termination, so that client deboarding process can be completed smoothly.

No Refund in case of partial month

The refund shall be provided only in case of full unutilised month and not partially utilised months. For e.g if A client has paid on 1st Feb 25 for 3 months and if he terminates on 10th March, then No refund shall be provided for unexpired month of Mar 25. Refund will only be provided for full unutilized month i.e. Apr 25.

Adverse Market Conditions or Losses Incurred:

If the client incurs financial losses based on recommendations provided by the RA, the refund cannot be claimed. The RA does not guarantee returns or profits, and investments are subject to market risks.

Client’s Breach of Terms & Conditions:

If the client engages in fraudulent activity, misuse of research reports, or violates the agreed terms & conditions, the RA reserves the right to deny a refund. Including, if any of the KYC document provided found to be fraudulent at any stage of service period, there shall be no refund.

Unsubscribed or Free Trial Services:

If the client is availing free trial or promotional research reports, no refund is applicable.

Termination Due to Regulatory Non-Compliance by the Client:

If the client is found to be in violation of SEBI regulations, such as sharing reports illegally, the RA is not liable to provide a refund.

Voluntary Opt-Out from RA Services Without Justification:

If the client discontinues the services without any valid reason or documentation, no refund will be granted.

Non-Refundable Fees:

Certain fees, such as administrative or onboarding charges, may be designated as non-refundable in the service agreement. In such cases, clients are not entitled to a refund of these specific fees.