User Consent

‘User Consent’ hereby shall mean the terms and conditions set out by SV Stock Research in line with applicable rules and regulations and that needs to be agreed upon or signed by or provide ‘Consent’ by the ‘User’ or the ‘Client’ to SV Stock Research before availing research services to be provided by SV Stock Research. By visiting/using/accessing our website (https://svstockresearch.in/) and/or our official mobile application and by making payment for a subscription of any of our research services, you are agreeing to be bound by the following terms and conditions and all other terms and conditions, Legal Disclaimer, Disclosures, Policies and User Consent of SV Stock Research mentioned on our official website (https://svstockresearch.in/). We may change these terms and conditions and all other terms and conditions, Legal Disclaimer, Disclosures, Policies, and User Consent, at any time based on our operational procedures and/or regulatory requirements and the same shall be disclosed/updated on our website (https://svstockresearch.in/) and shall be informed to the client as required. Your continued use of our website and/or our mobile application and subscription to any of our research services means that you accept any new or modified terms and conditions and all other terms and conditions, Legal Disclaimer, Disclosures, Policies, and User Consent that we come up with. Please re-visit the `Terms and Conditions, ‘Legal Disclaimer’, ‘Disclosure’, ‘User Consent’, ‘Refund Policy’, and ‘Privacy Policy’ links on our website from time to time to stay abreast of any changes that we may introduce. The term SV Stock Research (https://svstockresearch.in/) is used throughout this entire document to refer to the Research Analyst (RA), the website and/or our mobile application, its owners/proprietor, and the employees and associates of the owner and can also be referred to as ‘us’. The words ‘You’ or the ‘Client’ refer to the viewer/user/subscriber of SV Stock Research website/mobile application/research services.

1. Availing the research services

By accepting delivery of the research service, the client confirms that he/she has elected to subscribe the research service of the RA at his/her sole discretion. RA confirms that research services shall be rendered in accordance 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 shall furnish all such details in full as may be required by the RA in its standard form with supporting details, if required, as may be made mandatory by Research Analyst Administration and Supervisory Body (RAASB) /Securities and Exchange Board of India (SEBI) from time to time.

RA shall collect, store, upload and check KYC records of the clients with KYC Registration Agency (KRA) as specified by SEBI from time to time.

4. Standard Terms of Service

You, as the Client of SV Stock Research, agree to the following:

You have read and 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 fee structure.

You are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report.

As SEBI rules and regulations mandate collecting a maximum limit of service fees per client per family over a defined period of time, you hereby declare and accept that none of your family members, as outlined in SEBI rules and regulations, are or shall be associated with the firm concurrently during your service tenure with the firm.

You understand that–

i. Any investment made based on the recommendations in the research report are subject to market risk.

ii. Recommendations in the research report do not provide any assurance of returns.

iii. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report.

We, SV Stock Research as the service provider to You, the Client, declare the following about us and our firm:

i. It is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: (registration number, registration date);

ii. It has registration and qualifications required to render the services contemplated under the RA Regulations, and the same are valid and subsisting;

iii. Research analyst services provided by it do not conflict with or violate any provision of law, rule or regulation, contract, or other instrument to which it is a party or to which any of its property is or may be subject;

iv. The maximum fee that may be charged by RA is ₹1.51 lakhs per annum per family of client excluding any statutory charges.

v. The recommendations provided by RA do not provide any assurance of returns.

vi. It is not engaged in any additional professional or business activities, on a whole-time basis or in an executive capacity, which interfere with/influence or have the potential to interfere with/influence the independence of research report and/or recommendations contained therein.

5. 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).

6. Risk factors

Investments in securities markets are inherently risky and subject to market dynamics. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to clients.

7. Conflict of interest

The RA shall adhere to the applicable regulations/ circulars/ directions specified by SEBI from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. Full disclosures are provided in each research report, our website and in this User Consent Document.

8. Termination of service and refund of fees

In case the certificate of registration of the Research Analyst is suspended for a period exceeding sixty (60) days or is cancelled, the Research Analyst shall refund the subscription fees to the client on a pro-rata basis for the period from the effective date of such suspension or cancellation to the end of the subscription period.

9. Grievance redressal and dispute resolution

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 (RA to provide name and e-mail ID of the designated person/employee).

• 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.

• Any dispute between the RA and his client may be resolved through arbitration or through any other modes or mechanism as specified by SEBI from time to time.

10. Additional clauses

All additional voluntary clauses added by the RA should not be in contravention with rules/ regulations/ circulars of SEBI. Any changes in such voluntary clauses/document(s) shall be preceded by a notice of 15 days.

11. Mandatory notice

Clients are 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.

12. Most Important Terms and Conditions (MITC)

1. 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.

2. 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).

3. RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI. 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. As the Client has understood and agreed upon the inherent risks associated in share market, pre-mature termination of services due to mere loss in share market is discouraged and the RA reserves the right to escalate such matter through grievance redressal mechanism, including but not limited to recovery of minimum cost incurred towards onboarding the client.

4. 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). Instructions and guidance, for such clients who wish to use CeFCoM, will be provided at the time of subscription.

5. 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 to the client.

6. 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. 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.

8. 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. 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,

Step 1: the client should first contact the RA using the details on its website or ‘Grievance Redressal/Escalation Matrix’ displayed thereon.

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

11. Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.

12. 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.

• Optional Centralised Fee Collection Mechanism: In line with SEBI guidelines, We offer an optional Centralised Fee Collection Mechanism (CeFCoM) for Clients who wish to use it. Instructions and guidance, for such clients, for using CeFCoM will be provided at the time of subscription.

We request you to acknowledge and confirm all the terms and conditions mentioned above in this document by clicking on the “Yes I Agree” button below in this document. SV Stock Research will consider these details and your consent/ acceptance of all the above terms and conditions to be final and will be taken on an as-is basis for all our services and products to which you may subscribe with us. On receipt or non-receipt of your confirmation to the Terms and Conditions of the above document, the above consent/ confirmation will be considered true and will be used in all our active records.