MITC

1. No Trade Execution by RA

These terms and conditions are for the research services provided by the Research Analyst. The Research Analyst cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client. Clients are advised not to permit the RA to execute any trade on their behalf.

2. Fee Structure

The fee charged by the RA to the client will be subject to the maximum amount prescribed by SEBI / Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).

• 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.

3. Advance Fee & Pro-Rata Refund

The 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 a refund of proportionate fees only for the unexpired period.

4. Permitted Modes of Fee Payment

Fees to the 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 the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited, i.e. currently recognized RAASB.

5. Conflict of Interest Disclosure

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 endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered.

6. No Assured / Guaranteed Returns

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.

7. No Guarantee of Returns or Accuracy

The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA's research services. All opinions, projections, and estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of the research report.

8. Market Risk & Client Responsibility

Any investment made based on recommendations in research reports is subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on investments made based on the recommendations. Any reliance placed on the research report shall be as per the client's own judgement and assessment of the conclusions contained therein.

9. SEBI Registration Does Not Guarantee Performance

The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.

10. For Any Grievances — 3-Step Process

• Step 1: The client should first contact the RA using the details on its website or email contact details.
• Step 2: If the resolution is unsatisfactory, the client can lodge grievances through SEBI's SCORES platform at SEBI SCORES Complaint Portal.
• Step 3: The client may also consider Online Dispute Resolution (ODR) through the Smart ODR portal at Smart ODR — Online Dispute Resolution.

Centralized Fee Collection Mechanism (CeFCoM)

This initiative by SEBI aims to ensure that investor payments are securely directed to legitimate SEBI-registered advisors rather than elsewhere.