CA Raj Rupesh Shah | SEBI Registered Research Analyst
Most Important Terms & Conditions (MITC)
Core Service Parameters & Regulatory Framework Mandate
- 1. Service Bound Limits: These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA). The RA cannot execute or carry out any trade (purchase/sell transaction) on behalf of the client.
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2. Fee Prescription Limits: 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 Fees & Refund Matrix: 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 the unexpired period.
- 4. Permitted Payment Channels: 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 the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e., currently recognized RAASB).
- 5. Conflict of Interest Mitigation: 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. Assured Returns Prohibition: 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. Technical Performance Limits: 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 the research report.
- 8. Market Risk Recognition: 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. Certification Caveat: The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
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10. Structured Escalation Grievance Matrix: If a client encounters service friction or discrepancies, a structured resolution process is available:
- Step 1 — Internal Redressal: The client should first contact the RA using the details on its website or via email: support@carajshah.in or phone: 99744 28644.
- Step 2 — SEBI SCORES Portal: If the resolution is unsatisfactory, the client can lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in.
- Step 3 — Online Dispute Resolution: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in.
- 11. Contact Upkeep: Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
12. Operational Security Alert Constraint: 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 the RA.
Statutory Disclaimer
Investment in the securities markets is subject to market risks. Read all the related documents carefully before investing. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, Enlistment as an RA with BSE, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.