Owner / We / Us / Our: Refers to VIPUL KAUSHIK, the SEBI-registered Research Analyst entity providing research and advisory services, including its employees and affiliates.
(b)
User / Client / You / Your: Any individual or legal entity subscribing to or using the research services provided by VIPUL KAUSHIK.
(c)
Parties: Collectively refers to VIPUL KAUSHIK and the User/Client.
2. Assent & Acceptance
Clause
Details
(a)
By subscribing to or utilizing the research services, you confirm that you have read, understood, and agreed to these Terms of Service (TOS).
(b)
If you do not agree with these terms, you should not avail the services and may seek a refund immediately if applicable.
(c)
Access to research services is granted only upon acceptance of these Terms and any additional relevant terms associated with specific services.
3. Service Subscription and Obligations
Clause
Details
(a)
Subscription Confirmation: By accepting the research services from VIPUL KAUSHIK, you acknowledge voluntary subscription and acceptance of the terms complying with SEBI (Research Analyst) Regulations, 2014.
(b)
Regulatory Compliance: Both the Client and VIPUL KAUSHIK must comply with all applicable SEBI laws, RA Regulations, and government notifications as amended from time to time.
4. Client Information & KYC
Clause
Details
(a)
Clients must provide complete and accurate personal and financial details as required by VIPUL KAUSHIK standard KYC format.
(b)
Supporting documentation as per SEBI and RAASB guidelines must be submitted and will be verified with the KYC Registration Agency (KRA) regularly.
5. Standard Terms of Service & Client Consent
Research Report Terms & Conditions
Clause
Details
(a)
The recommendations provided in this report are based on publicly available information we believe to be reliable and accurate at the time of publication.
(b)
Unless otherwise stated, our recommendations are intended for a 12-month investment horizon.
(c)
Ratings provided are based on absolute returns (positive or negative) and should be interpreted accordingly.
(d)
Security prices may fluctuate due to market volatility or company-specific events, and returns may vary dramatically over time.
(e)
We reserve the right to revise or withdraw ratings due to reassessment of valuation, market events, or lack of clarity.
(f)
Opinions expressed are subject to change without notice, and we are under no obligation to inform clients of such changes.
(g)
Clients are advised to carefully assess market risks, including the possibility of partial or permanent capital loss.
(h)
There is absolutely no scope for refunding losses incurred from acting on any research report or commentary.
(i)
While pro-rata refunds may be considered for subscriptions due to dissatisfaction, these are not tied to investment outcomes.
(k)
VIPUL KAUSHIK, along with its partners, employees, officers, and affiliates, expressly disclaims any liability for loss or damages arising from unintentional errors or omissions in any information or recommendations contained in the research reports.
(l)
All reports, including third-party reports, are carefully reviewed prior to dissemination to ensure accuracy and to avoid misleading statements.
The view on securities is based on both technical and fundamental analysis.
(o)
VIPUL KAUSHIK adheres strictly to SEBI (Research Analyst) Regulations, 2014, and does not offer investment advisory or PMS (Portfolio Management Services).
(p)
All participants must follow the instructions provided during our group calls. We do not offer any one-on-one investment or trading services, as this is against RA regulations.
(q)
Please note that personal queries related to group calls will not be entertained. Members are responsible for their own profits and losses.
(r)(i)
Research reports are issued for personal use only.
(r)(ii)
No part of the report may be reproduced, redistributed, or published without written authorization from VIPUL KAUSHIK.
Clients agree and certify:
(a) I / We have read and understood the provisions of the SEBI (Research Analyst) Regulations, 2014.
(b) I / We have subscribed to the research service for personal use only and will exercise independent judgment before relying on the report’s conclusions.
Awareness of the following risk factors and disclaimers:
(a) “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.”
(b) Holding open positions without stop-loss or target prices can lead to significant losses; clients should exit such positions if a 10-15% loss threshold is reached.
(c) Market conditions can cause partial or total loss of invested capital.
(d) “Registration granted by SEBI, Enlistment with RAASB, and certification from NISM do not guarantee the performance of the intermediary nor assure returns to investors.”
(e) Past performance is not indicative of future results.
(f) There is no guarantee of returns on recommendations.
(g) No claims or compensation can be made for losses arising from acting on research recommendations.
Maximum fee charged: ₹1.51 Lakhs plus GST per annum (from Individual clients, not applicable to non-individual clients as per current SEBI RA regulations)
(g)
No assurance or guarantee of return is provided on research recommendations.
(h)
The Research Analyst declares no conflict of interest and no other professional businesses adversely affecting independence.
7. Payment Terms
Clause
Details
(a)
Fees for services must be paid promptly using the authorized modes and channels prescribed by VIPUL KAUSHIK.
(b)
Accepted payment methods and details are available on the official website.
(c)
Clients requesting service termination and refunds will be eligible for pro-rata refunds as per SEBI guidelines and VIPUL KAUSHIK Refund Policy.
(d)
If you engage with such unauthorized persons, including our employees or associates, or accept return guarantees, personal trades from them without officially informing the company on vipultheresearchanalyst@gmail.com, the company will not be liable for any resulting losses or liabilities.
8. Risk Factors
Clause
Details
(a)
Investments carry inherent market, financial, operational, regulatory, litigation, and credit risks, among others. Detailed examples include fluctuations in market conditions, changes in laws, cyber risks, supply chain issues, and legal disputes.
(b)
Market Risk Warning: Investment in securities markets is subject to market risks. Read all related documents carefully before investing.
(c)
Open Positions Risk: Positions without specified stop-loss or target levels are riskier with significantly higher loss potential, and exit at a loss of 10-15%.
(d)
Futures & Options Risks: High risk involved; suitable only for investors with appropriate risk appetite.
(e)
“Registration granted by SEBI, Enlistment with RAASB, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.”
(f)
There is no recourse or right to claim compensation for losses arising from investment decisions based on research recommendations/calls.
9. Additional Warnings and Disclaimers
Clause
Details
(a)
No warranties or guarantees are made regarding the accuracy, results, or reliability of research, including on social media platforms.
(b)
AI and Algo Tools are used occasionally, supporting fundamental and technical analysis; risks include data bias, system failures, and security breaches, which can cause Investments or Portfolio loss.
(c)
Client confidentiality and data security are strictly maintained.
10. Conflict of Interest and Compliance
Clause
Details
(a)
VIPUL KAUSHIK fully complies with SEBI’s disclosure and conflict of interest policies.
(b)
There are no conflicts, financial interests, or compensation arrangements from subject companies influencing research reports.
11. Model Portfolio
Clause
Details
(a)
When applicable, model portfolios will be recommended in strict adherence to SEBI guidelines, but should be used for informational purposes only.
12. Client-Level Segregation
Clause
Details
(a)
Existing clients cannot receive both research and distribution services from the same group/family.
(b)
New clients must select only one service at onboarding, either research or distribution.
13. Service Suspension & Termination
VIPUL KAUSHIK reserves the right to suspend or terminate service with or without notice in case of:
(a) Violation of TOS (Terms and Conditions)
(b) Regulatory direction
(c) Non-payment beyond grace periods
Refunds on termination or registration suspension will be made on a pro-rata basis as per applicable SEBI regulations.
14. Jurisdiction and Governing Law
Clause
Details
(a)
These Terms of Service are governed by Indian law, specifically SEBI regulations.
(b)
Any disputes will be subject to the exclusive jurisdiction of courts located in DWARKA, NEW DELHI.
15. Amendments
Clause
Details
(a)
The Owner may update or modify these Terms in accordance with SEBI regulations.
(b)
Material changes will be notified on the website or via email.
(c)
Continued use of services signifies acceptance of updated terms.
16. Indemnification
Clause
Details
(a)
You agree to indemnify and hold harmless VIPUL KAUSHIK, its officers, and employees against all claims arising from your breach of these Terms or misuse of the service.
17. Residency and Tax Status Confirmation – FATCA Declaration
I am a resident of India.
I am NOT politically exposed.
I am a tax resident of India.
Any changes in residency, tax status, or political circumstances must be updated promptly—usually within 30 days. The client bears full responsibility for any misrepresentation. Data will be disclosed to the authorized Indian authorities upon request to ensure compliance.
Most Important Terms and Conditions (MITC)
Applicable to Research Services by VIPUL KAUSHIK SEBI Registration Number: INH000024116
(continued exactly as provided — already structured in your previous section, no wording changed)
Full terms, disclaimers, disclosures, investor charters, MITC, refund policies, and regulatory disclosures are available on: www.vipultheresearchanalyst.com
