As Per SEBI Norms, ABJ Finstocks and all SEBI Registered RA’s Cannot either render research services or accept fees until you consent on below terms and conditions.
Just Text us “Yes, I have Read & Accept all Terms & Conditions” through either your what’s app or email.
- 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 ABJ FINSTOCKS, SEBI Registered RA (Registration No: INH000003507) at his/her sole discretion. We confirm that research services shall be rendered in accordance with the applicable provisions of the RA Regulations.
- Obligations on RA: ABJ Finstocks 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.
- Client Information and KYC: The client shall furnish all such details in full as may be required by the ABJ Finstocks in its standard form with supporting details, if required, as may be made mandatory by RAASB/SEBI from time to time.
ABJ Finstocks 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: “I / We 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.
I/We 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.
I/We understand that –
- Any investment made based on the recommendations in the research report are subject to market risk.
- Recommendations in the research report 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.”
Declaration of the ABJ Finstocks that:
- ABJ Finstocks is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: SEBI Regd. No INH000003507 and BSE Enlistment No. 5203 Registered in 2016.
- We have registration and qualifications required to render the services contemplated under the RA Regulations, and the same are valid and subsisting;
- Research analyst services provided by us 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;
- The maximum fee that may be charged by ABJ Finstocks is ₹1.51 lakhs per annum per family of client.
- The recommendations provided by ABJ Finstocks do not provide any assurance of returns.
- We are 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 ABJ Finstocks, the agreed fees for the services that ABJ Finstocks renders to the client and statutory charges, as applicable. Such fees and statutory charges shall be payable through
6. Risk factors:
Investment in securities is subject to market risk, though best attempts are made for predicting markets, but no surety of return or capital protection of any kind is guaranteed.
There is no guarantee for future performance of the services. Clients are advised to consider all the advice as just an opinion and make investment decision on their own. In case of clients seeking advice on any specific positions already made by the client, we will be able to suggest best possible action considering our view on the security or product. Such suggestion under any circumstances shall be considered as an opinion (not advice) and we advise client to consider our opinion not final to make his/her final decision. We are not liable for any losses whatsoever client may incur in accepting this opinion.
Client is also advised to trade only if tips/recommendations suit his/her current risk appetite and risk bearing capacity, all such tips shall be considered as a view or opinion and client shall on his/her discretion decide actual trades.
Notwithstanding all the efforts to do best research, clients should understand that investing in equities, involves risk of loss of both income and principal. Please ensure that you understand fully the risks involved in investment in equities.
7. Conflict of interest: The ABJ Finstocks 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.
https://multibaggers.co.in/mandatory-disclosures/
8. Termination of service and refund of fees: ABJ Finstocks may suspend or terminate rendering of research services to client on account of suspension/ cancellation of registration of RA by SEBI and shall refund the residual amount to the client for unexpired period of service.
In case of suspension of certificate of registration of the RA for more than 60 (sixty) days or cancellation of the RA registration, RA shall refund the fees, on a pro rata basis for the period from the effective date of cancellation/ suspension to 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 ABJ Finstocks, shall be escalated promptly by the client to the person/employee designated by RA, in this behalf The ABJ Finstocks 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.
ABJ Finstocks shall redress grievances of the client in a timely and transparent manner.
Any dispute between the ABJ Finstocks 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 ABJ Finstocks Shall 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 shall be requested to go through Do’s and Don’ts while dealing with ABJ Finstocks 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 time11. Optional Centralised Fee Collection Mechanism: RA Shall provide the guidance to their clients on an optional ‘Centralised Fee Collection Mechanism for IA and RA’ (CeFCoM) available to them for payment of fees to RA
12. Most Important Terms and Conditions (MITC):
“The terms and conditions and the consent thereon are for the research services provided by the ABJ Finstocks and ABJ Finstocks cannot execute/ carry out any trade (purchase/ sell transaction) on behalf of the client. Thus, you are advised not to permit RA to execute any trade on your behalf.”
Most Important Terms and Conditions (MITC)
- These terms and conditions, and consent thereon are for the research services provided by the ABJ Finstocks and ABJ Finstocks cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit ABJ Finstocks to execute any trade on their behalf.
- 2. The fee charged by ABJ Finstocks 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).
Note:
- The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
- The fee limit does not include statutory charges.
- The fee limits do not apply to a non-individual client / accredited investor.
- 3. ABJ Finstocks 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 ABJ Finstocks services by either the client or the ABJ Finstocks, the client shall be entitled to seek refund of proportionate fees only for unexpired period. For more details please refer to Annexure on Refund Terms and Conditions for Research Analysts Services
- 4. Fees to ABJ Finstocks 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).
- 5. The ABJ Finstocks 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 ABJ Finstocks 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 ABJ Finstocks.
- 7. The ABJ Finstocks cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the ABJ Finstocks’s research services. All opinions, projections, estimates of the ABJ Finstocks 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 ABJ Finstocks 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 ABJ Finstocks or assure any returns to the client.
- 10. For any grievances,
Step 1: the client should first contact the ABJ Finstocks using the details on its website or following contact details:
| Details of designation | Contact Person Name | Address where the physical address location | Contact No. | Email-ID | Working hours when complainant can call |
| Customer Care | Bharti Joshi | 23/A, Radhaswami Row House, Ghatlodiya, Ahmedabad, Gujarat. | 919825621336 | support@abjfinstocks.com | 3:30 p.m.-6:30p.m. |
| Head of Customer Care | Bharti Joshi | 23/A, Radhaswami Row House, Ghatlodiya, Ahmedabad, Gujarat. | 919825621336 | support@abjfinstocks.com | 3:30 p.m.-6:30p.m. |
| Compliance Officer | Bharti Joshi | 23/A, Radhaswami Row House, Ghatlodiya, Ahmedabad, Gujarat. | 919825621336 | support@abjfinstocks.com | 3:30 p.m.-6:30p.m. |
| CEO | Bharti Joshi | 23/A, Radhaswami Row House, Ghatlodiya, Ahmedabad, Gujarat. | 919825621336 | support@abjfinstocks.com | 3:30 p.m.-6:30p.m. |
| Principal Officer | Bharti Joshi | 23/A, Radhaswami Row House, Ghatlodiya, Ahmedabad, Gujarat. | 919825621336 | support@abjfinstocks.com | 3:30 p.m.-6:30p.m. |
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 ABJ Finstocks at all times.
12. The ABJ Finstocks 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.
Annexure Refund Terms and Conditions for Research Analysts Services
(Based on Annexure A of MITC and Clause 3 of the SEBI Circular Dated February 17, 2025)
1. Cases Where Refund Will NOT Be Provided
A client shall NOT be entitled to a refund in the following scenarios:
Services Rendered as Described:
If the Research Analyst (RA) has delivered the services as per the agreed terms and the client is dissatisfied without any breach or deficiency in service, a refund may not be warranted.
Inability of the RA to Provide Services for reason beyond his control:
If the RA fails to provide research reports, updates, or services as agreed in the terms of service or If technical issues, operational failures, or any other reasons prevent the RA from delivering research reports.
In such case No Refund shall be provided. However, the service period may be extended at the sole discretion of Research analyst, if disruption exceeds xxxx days
Force Majeure Events:
Refunds will not be applicable if services are disrupted due to events beyond the control of the RA, such as natural disasters, pandemics, or other force majeure events, provided such exclusions are included in the service agreement.
Completion of Subscription Period:
If the client has used the research services for the full subscription period, no refund will be granted.
Partially Utilized Services Without Formal Termination:
If the client stops using the research services but does not formally request termination in writing along with reason for termination, the RA is not obligated to process a refund. Written Notice with reasons for termination must be given minimum 10 days before the termination, so that client deboarding process can be completed smoothly.
No Refund in case of partial month
The refund shall be provided only in case of full unutilised month and not partially utilised months. For e.g if A client has paid on 1st Feb 25 for 3 months and if he terminates on 10th March, then No refund shall be provided for unexpired month of Mar 25. Refund will only be provided for full unutilized month i.e. Apr 25.
Adverse Market Conditions or Losses Incurred:
If the client incurs financial losses based on recommendations provided by the RA, the refund cannot be claimed. The RA does not guarantee returns or profits, and investments are subject to market risks.
Client’s Breach of Terms & Conditions:
If the client engages in fraudulent activity, misuse of research reports, or violates the agreed terms & conditions, the RA reserves the right to deny a refund. Including, if any of the KYC document provided found to be fraudulent at any stage of service period, there shall be no refund.
Termination Due to Regulatory Non-Compliance by the Client:
If the client is found to be in violation of SEBI regulations, such as sharing reports illegally, the RA is not liable to provide a refund.
Voluntary Opt-Out from RA Services Without Justification:
If the client discontinues the services without any valid reason or documentation, no refund will be granted.
Non-Refundable Fees:
Certain fees, such as administrative or onboarding charges, GST, may be designated as non-refundable in the service agreement. In such cases, clients are not entitled to a refund of these specific fees.
2. Refund Eligibility – Cases Where the Client is Entitled to a Refund
A client shall be entitled to a proportionate refund of fees paid to the Research Analyst (RA) in the following circumstances:
Pre-mature Termination by the Client:
If a client voluntarily chooses to discontinue the research services before the agreed subscription period expires excluding the cases where no refund is applicable as mentioned above.
The refund will be calculated on a pro-rata basis for the unexpired period subject to conditions mentioned under “Partially Utilized Services Without Formal Termination” and “No Refund in case of partial month” above
Pre-mature Termination by the Research Analyst (RA):
If the RA discontinues services for any reason before the subscription period expires, the client is entitled to a pro rata refund for the unutilized period.
Regulatory Actions Against the RA:
If the RA’s registration is suspended or cancelled by SEBI or RAASB for regulatory violations.
In case of regulatory penalties that force the RA to cease operations, the client will be eligible for a pro rata refund for the unexpired period without subject to conditions mentioned under “Partially Utilized Services Without Formal Termination” and “No Refund in case of partial month” above
Double Payment or Overcharging:
If the client is charged twice for the same period or has been overcharged beyond the regulatory fee limit (i.e., ₹1,51,000 per annum per family for individual and HUF clients).
The excess amount will be refunded.
Regulatory Fee Collection Mechanism Refund:
If the client opts for the Centralized Fee Collection Mechanism (CeFCoM) but later decides to discontinue services, the refund process will be executed through CeFCoM, ensuring proper regulatory compliance.
3. Refund Calculation & Processing
Refunds shall be processed only for the unexpired period on a pro-rata basis.
Refund requests must be made in writing via email or official communication mode.
Refunds shall be processed within 30 days of approval.
Refunds shall be credited to the same payment method used for fee payment (Bank Transfer, UPI, or other digital modes; Cash refunds are not allowed).
15. Copyright & No Retransmission Of Calls Provided To Clients
Calls provided to clients is valuable and exclusive property of ABJ Finstocks. All stock calls is the proprietary and confidential property of ABJ Finstocks and cannot be transferred to other than clients of ABJ Finstocks even by its clients for any reason outside You agree not to repeat or rebroadcast in any way any of the stock call information. You agree that if you do pass calls short term or long term or re-post any of ABJ Finstocks calls by any means, you will be liable for actual and punitive damages as determined by ABJ Finstocks and additional damages to be determined by an Indian court of Law.
You may not resell, redistribute, broadcast or transfer the information or use the information in a searchable, machine-readable database unless separately and specifically authorized in writing by www.multibaggers.co.in prior to such use. You may not rent, lease, sublicense, distribute, transfer, copy, reproduce, publicly display, publish, adapt, store or time-share ABJ Finstocks and any part thereof, or any of the Calls or Research Reports received or accessed there from to or through any other person or entity unless separately and specifically authorized in writing by ABJ Finstocks prior to such use.
