Important Terms & Conditions

The Research Analyst

• Does not manage funds or securities on behalf of the Client.
• Does not offer any guaranteed or assured return services.
• Will strictly provide services as per the SEBI (Research Analysts) Regulations, 2014.
• Shall be bound by the SEBI Act and all applicable rules and regulations of SEBI, including the RA Regulations and relevant Government notifications in force from time to time.

Investment Risk Acknowledgement

The Client agrees to undertake the risks related to investments, as outlined below:

• Investment in equities, derivatives, mutual funds and exchange-traded funds is subject to market risks, and there is no assurance that the objectives of any investment strategy will be achieved.
• Past performance of the Research Analyst does not indicate future performance. Investors are not being offered any guaranteed returns.
• Recommendations by the Research Analyst may not always be profitable, as actual market movements may differ from anticipated trends.
• The Research Analyst is not responsible for any losses resulting from its research services.
• Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
• Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research on mutual funds, IPOs and unlisted shares

• Mutual funds and ETFs: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Krijuna's fund views are research, not personalised advice. Krijuna does not distribute mutual funds and receives no commission from any AMC or distributor.
• IPOs: IPO notes are research views based on the offer document. Read the Red Herring Prospectus before applying. There is no assurance of allotment, of the listing price or of listing gains. Grey Market Premium (GMP) is an unofficial, unregulated third-party quote that is not recognised by SEBI or the stock exchanges; Krijuna does not deal in or endorse it.
• Unlisted shares: These are not traded on a recognised stock exchange. Prices are indicative and the shares are illiquid. Krijuna does not buy, sell or facilitate transactions in them.

Use of Artificial Intelligence tools

In terms of Regulation 19(vii) of the SEBI (Research Analysts) Regulations, Krijuna discloses that it uses AI tools only to assist with drafting, summarising public information, translation and producing educational audio-visual material. AI tools do not generate recommendations, ratings, target prices or stop losses. Each of these is formed, reviewed and approved by Krijuna's SEBI-registered research analyst, who remains solely responsible for it. Client personal data is not entered into AI tools. Krijuna will update this disclosure if the extent of AI use changes.

Limitation of Liability

Except as otherwise provided by law, the Research Analyst, its employees or affiliates will not be liable to the Client for any loss that:

• may arise from fluctuations in asset values, underperformance or market volatility; or
• may result from actions taken or omitted in good faith, with due diligence and prudence.

No suit, prosecution or other legal proceeding shall lie against the Research Analyst for any damage caused in good faith under the provisions of the SEBI (Research Analysts) Regulations, 2014.

Client Information and KYC

• The Client shall furnish, in the RA's standard form and with supporting documents where required, all details that RAASB/SEBI make mandatory from time to time.
• The RA shall collect, store, upload and check the KYC records of clients with a KYC Registration Agency (KRA), as specified by SEBI from time to time.

Dispute Resolution

All disputes between the Client and the Research Analyst shall be resolved in accordance with the Arbitration and Conciliation Act, 1996, as amended. The arbitration shall be conducted in English at Surat, Gujarat. This is without prejudice to the Client's right to use SEBI SCORES and the SMART ODR portal, as set out in the MITC below.

Force Majeure

The Research Analyst shall not be liable for delays or failures due to causes beyond its control, including natural disasters, war, riots, power failure or internet outages.

Mode of Communication

• Recommendations are shared through the Krijuna mobile app, www.krijuna.com, the Research Analyst's official Telegram channel or WhatsApp group, email, or any other legally permissible and mutually agreed mode.
• The Client shall consider only recommendations received through these official modes. The Research Analyst is not liable if the Client acts on a recommendation from an unauthorised source.
• Communications from the Research Analyst are sent only from info@krijuna.com or www.krijuna.com.

Regulatory Compliance

The Research Analyst, being SEBI-registered, shall comply strictly with all applicable SEBI regulations and guidelines.

Demo Disclaimer

Demo calls are for demonstration purposes only. It is entirely the Client's decision whether to trade on the basis of a demo call.

Package Specific Recommendations

Research recommendations are based on the package the Client chooses. The Client is solely responsible for acting on these recommendations. The Research Analyst shall not be liable for any resulting gains or losses.

Technical & Market Risks

The Research Analyst is not responsible for losses arising from market fluctuations, delayed communication, technical issues or news events. All market investments are inherently risky.

Fees and Refunds

• The Research Analyst does not offer profit-sharing or guaranteed-return services. If anyone offers such products in Krijuna's name, report it at info@krijuna.com or +91 7600003109.
• Fees are paid for research services only and do not imply any sharing of profits or any performance guarantee.
• If services are terminated prematurely, by either the Client or the Research Analyst, the Client is entitled to a refund of proportionate fees for the unexpired period. No breakage fee is charged.

Confidentiality and Conduct

• Clients, employees and associates must not share research reports or confidential data. Legal action will be taken against violators.
• Employees may not accept gifts from clients. Fees must be paid only to the official accounts listed on the website.
• The Research Analyst does not operate or manage any demat or trading account. Clients must not share sensitive credentials such as OTPs or passwords.

Instalment Payments

To ease the financial burden, fees may be paid in instalments. Instalments are for service payments only, never profit-sharing. If services are terminated prematurely, by either the Client or the Research Analyst, the Client is entitled to a refund of proportionate fees for the unexpired period. No breakage fee shall be charged.

Modifications

The Research Analyst may amend these terms and conditions. Material changes will be notified to clients through the app or by email before they take effect.

Most Important Terms and Conditions (MITC)

• 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 or sale transaction) on behalf of the client. Clients are therefore advised not to permit the RA to execute any trade on their behalf.
• 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 to Individual and HUF clients).

• The RA may charge fees in advance if the client agrees. Such advance shall not exceed the period stipulated by SEBI, presently one quarter. If the RA services are terminated prematurely by either the client or the RA, the client shall be entitled to seek a refund of proportionate fees only for the unexpired period.
• Fees may be paid to the RA through any of the specified modes, such as cheque, online bank transfer or UPI. Cash payment is not allowed. Optionally, the client can pay through the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (the currently recognised RAASB).
• The RA is required to abide by the applicable regulations, circulars and directions specified by SEBI and RAASB from time to time on the disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavour to promptly inform the client of any conflict of interest that may affect the services being rendered.
• Any assured, guaranteed or fixed-return schemes, or any other schemes of a similar nature, are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
• 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 or publication of the research report.
• Any investment made on the basis of 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 on the basis of 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.
• The SEBI registration, enlistment with RAASB and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
• For any grievances — Step 1: contact the RA at info@krijuna.com or +91 7600003109. Step 2: if the resolution is unsatisfactory, lodge the grievance through SEBI's SCORES platform at www.scores.sebi.gov.in. Step 3: the client may also consider Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in.
• Clients are required to keep their contact details, including email ID and mobile number(s), updated with the RA at all times.
• The RA shall never ask for the client's login credentials or OTPs for the client's trading account, demat account or bank account. Never share such information with anyone, including the RA.

Governing Law and Jurisdiction

These Terms & Conditions are governed by Indian law. All disputes shall be subject to the jurisdiction of the courts at Surat, Gujarat.

Severability Clause

If any provision of these Terms & Conditions is held to be invalid, unlawful or unenforceable, that provision shall be severed and the remaining provisions shall remain in full force and effect. This document is standalone and self-contained, and it supersedes any previous document in any form.

Communications

• By subscribing to our services, Clients consent to receive SMS and emails, including newsletters, research reports and promotional content.
• Redistribution or unauthorised sharing of reports or recommendations is strictly prohibited. Offenders will face legal action and cancellation of their subscription. Where a subscription is cancelled, the Client remains entitled to a refund of proportionate fees for the unexpired period.
• Clients assume full responsibility for their investment decisions. If they trade on the basis of the Research Analyst's reports, the resulting risks and outcomes are solely theirs.

Acknowledgement and Consent

By subscribing to our services, you agree to all the clauses of these Terms & Conditions of your own free will and consent.

Disclaimer: Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Standard warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.