RA CLIENT CONSENT

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RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

 DEFINITIONS

The parties referenced in these Terms of Service are defined as follows:

a) Owner, Us, We: The Owner, serving as the Research Analyst, offers Research

Services on securities to users. Terms such as VIJAY KUMAR GUPTA, Owner, Us, We,

Our, Ours, and other first-person pronouns refer to the Owner and all employees

and affiliates associated with the Owner.

b) You, the User, the Client: As the user of the Research Services, you will be

identified throughout these Terms of Service with second-person pronouns like You,

Your, Yours, or as User or Client. In this context, “User” or “you” denotes any

individual or legal entity accessing the Research Services.

c) Parties: Collectively, the Owner and you will be referred to as Parties in these

Terms of Service.

 ASSENT & ACCEPTANCE

By utilizing the Research Services, you confirm that you have read and understood

these Terms of Service and agree to adhere to them. If you do not accept these

Terms of Service, please request a refund immediately (if applicable). The Owner will

provide access to the Research Services only if you agree to these Terms.

Additionally, depending on the Services obtained by a User, further terms and

conditions may apply, which will be seen as an agreement between Users and the

Owner.

 AVAILING THE RESEARCH SERVICES:

By accepting the delivery of the research service, the client confirms their choice to

subscribe to the research service of “VIJAY KUMAR GUPTA: INH000020226" at their

discretion. The service “VIJAY KUMAR GUPTA: INH000020226" affirms that research

services will be delivered in compliance with the relevant provisions of the RA

Regulations.

 OBLIGATIONS ON RA:

“VIJAY KUMAR GUPTA: INH000020226" and the client are required to comply with

the SEBI Act and all applicable SEBI rules and regulations, including the RA

Regulations and relevant government notifications, as they may be updated from

time to time.

 CLIENT INFORMATION AND KYC:

The client must provide all necessary details in full as required by “VIJAY KUMAR

GUPTA: INH000020226" in its standard format, along with any supporting

documentation mandated by RAASB/SEBI. “VIJAY KUMAR GUPTA: INH000020226"

will collect, store, upload, and verify KYC records of clients with the KYC Registration

Agency (KRA) as directed by SEBI periodically.

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

 STANDARD TERMS OF SERVICES:

The client’s consent will be obtained based on the following understanding:

“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 benefit and consumption;

any reliance on the research report provided by the research analyst will be based

on our own judgment and assessment of the conclusions within the report.

I/We understand that –

i. Investments based on recommendations in the research report are subject to

market risk.

ii. Holding positions without stop-loss or target may lead to significant losses in

unfavourable market conditions or company events.

iii. Market risks may result in partial or total loss of investments under certain

conditions.

iv. Registration by SEBI and certification from NISM do not guarantee the

performance of the intermediary or assure returns to investors.

v. Past performance is not indicative of future results.

vi. Recommendations in the research report do not guarantee returns.

vii. “There is no avenue for claiming losses incurred based on the

recommendations in the research report.”

 DECLARATION FROM “VIJAY KUMAR GUPTA: INH000020226":

i. “VIJAY KUMAR GUPTA: INH000020226" is registered with SEBI as a Research

Analyst following the SEBI (Research Analysts) Regulations, 2014, with the following

details:

Registration Name: VIJAY KUMAR GUPTA

Registration Number: INH000020226

Registration Date: Apr 08, 2025 - Perpetual

Trade Name for Research Services: VIJAY KUMAR GUPTA

Website or Trademark: www.vijayguptaadvisory.com

ii. “VIJAY KUMAR GUPTA: INH000020226" holds valid registration and qualifications

necessary to provide the services outlined in the RA Regulations, which remain valid

and active;

iii. Services provided by “VIJAY KUMAR GUPTA: INH000020226" do not conflict with

or violate any laws, rules, or regulations, contracts, or other agreements to which it

is bound or to which its property is subject;

iv. The maximum fee charged by “VIJAY KUMAR GUPTA: INH000020226" is ₹1.51

lakhs per annum per family of clients.

v. Recommendations made by “VIJAY KUMAR GUPTA: INH000020226" do not

guarantee returns.

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

 ADDITIONAL DECLARATION:

i. If the RA is an individual, they declare:

“VIJAY KUMAR GUPTA: INH000020226" is not engaged in any other professional or

business activities that could interfere with or influence the independence of the

research report and its recommendations.

CONSIDERATION AND MODE OF PAYMENT:

The client shall promptly pay RA the agreed fees for the services rendered, along

with any applicable statutory charges. Such fees and charges will be payable through

specified methods and mechanisms.

“VIJAY KUMAR GUPTA: INH000020226" Services:

i. Visit our website: www.vijayguptaadvisory.com for service details and its terms

and conditions.

ii. If the client terminates the contract and requests a refund, the refund will be

processed as per SEBI norms on pro-rata basis.

 RISK FACTORS:

(A statement covering standard risks associated with investment in securities will be

included here by the VIJAY KUMAR GUPTA: INH000020226)

Investing in securities carries several risks that could negatively impact your

investments or portfolio:

Market Risk: Fluctuations in market conditions can affect revenue and profitability.

Financial Risk: Changes in currency and interest rates can impact financial results.

Operational Risk: Natural disasters or disruptions can lead to production delays and

losses.

Regulatory Risk: Changes in regulations or legal actions can affect business

operations.

Competition Risk: Intense competition can result in pricing pressures and reduced

market share.

Technology Risk: Cybersecurity breaches or technology failures can compromise

data security.

Supply Chain Risk: Disruptions caused by supplier issues can affect production.

Environmental and Sustainability Risk: Non-compliance with regulations can harm

the business.

Credit Risk: Economic downturns or borrower defaults can lead to loan losses for

financial institutions.

Litigation Risk: Ongoing legal proceedings can result in financial liabilities.

MARKET RISKS WARNING: “Investments in the securities market are subject to

market risks. Please read all related documents carefully before investing.”

LOSS POSSIBILITY WARNING: “Market risks may lead to partial or total loss of

investments under certain market conditions.”

Risks in Open Futures and Options Trading are VERY HIGH.

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

SEBI REGISTRATION: Registration granted by SEBI and certification from NISM do not

guarantee performance by the intermediary or assure returns to investors.

PAST PERFORMANCE WARNING: Past performance is not indicative of future

results.

NO WARRANTIES WARNING: The Research Analyst does not guarantee the accuracy

or results of recommended securities.

EXERCISE CAUTION WARNING: “VIJAY KUMAR GUPTA: INH000020226" provides

research analysis and specific securities recommendations but does not offer

portfolio management services, personal account handling, profit sharing, or risk-

profiling-based investment advisory services.

CONFLICT OF INTEREST:

“VIJAY KUMAR GUPTA: INH000020226" complies with all applicable regulations,

circulars, and directives from SEBI regarding the disclosure and mitigation of any

actual or potential conflict of interest.

TERMINATION OF SERVICE AND REFUND OF FEES:

Disclosure that “VIJAY KUMAR GUPTA: INH000020226" may suspend or terminate

research services to clients due to suspension or cancellation of the RA's registration

by SEBI, and will refund any remaining amount to the client.

If the certificate of registration of “VIJAY KUMAR GUPTA: INH000020226" is

suspended for over 60 days or cancelled, the VIJAY KUMAR GUPTA: INH000020226

will refund the fees on a pro-rata basis for the duration from the effective date of

cancellation/suspension to the end of the subscription period.

If services are terminated prematurely as outlined, consideration, and mode of

payment, the fees for research services are refundable but with conditions outlined

above or read our website refund policy.

 GRIEVANCE REDRESSAL AND DISPUTE RESOLUTION:

Any grievances regarding:

(i) non-receipt of research reports,

(ii) missing pages or inability to download the complete report, or

(iii) Any deficiencies in the research services provided by “VIJAY KUMAR GUPTA:

INH000020226" must be promptly escalated by the client to the designated

person/employee of “VIJAY KUMAR GUPTA: INH000020226".

(ii) Designated Person/Employee Name: VIJAY KUMAR GUPTA

E-mail ID: researchanalystvijay@gmail.com

Phone: +91 79827 54456

“VIJAY KUMAR GUPTA: INH000020226" will address grievances within 7 business

working days or within timelines specified by SEBI under the RA Regulations.

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

“VIJAY KUMAR GUPTA: INH000020226" will resolve client grievances in a timely

and transparent manner.

Any disputes between “VIJAY KUMAR GUPTA: INH000020226" and clients may

be resolved through arbitration or any other methods specified by SEBI from

time to time.

SEBI SCORES Link: https://scores.sebi.gov.in/

SEBI ODR Link: https://smartodr.in/

SEBI Toll-Free Number: 1800 22 7575 or 1800 266 7575

Clients may also write to any SEBI Office – Addresses Link:

https://www.sebi.gov.in/contact-us.html

SCORES iOS App: https://apps.apple.com/us/app/sebiscores/id6478849917

SCORES Google Play Store App:

https://play.google.com/store/apps/details?id=com.sebi

 ADDITIONAL CLAUSES:

All additional voluntary clauses added by “VIJAY KUMAR GUPTA: INH000020226"

must comply with SEBI’s rules, regulations, and circulars. Any changes to such

voluntary clauses/documents will be preceded by a notice of 15 days.

Some voluntary clauses for “VIJAY KUMAR GUPTA: INH000020226" include:

a. Research service fees paid are refundable but with conditions.

b. Any changes or updates to the terms and conditions will be updated on our

website or app.

 MANDATORY NOTICE:

Clients are encouraged to review the Do’s and Don’ts while dealing with “VIJAY

KUMAR GUPTA: INH000020226" 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 subsequently.

Do’s and Don’ts website link for “VIJAY KUMAR GUPTA: INH000020226":

www.vijayguptaadvisory.com

 MOST IMPORTANT TERMS AND CONDITIONS (MITC):

“VIJAY KUMAR GUPTA: INH000020226” MITC to their clients include:

i. “The terms and conditions and the consent therein pertain to the research services

provided by “VIJAY KUMAR GUPTA: INH000020226”, and “VIJAY KUMAR GUPTA:

INH000020226” cannot execute or conduct any trades (purchase/sell transactions)

on the client's behalf.

Therefore, it is advised that you do not allow “VIJAY KUMAR GUPTA:

INH000020226” to execute any trades on your behalf.”

a. "VIJAY KUMAR GUPTA: INH000020226" is not authorized to request profit-sharing

from your trades. Hence, it is recommended that you do not provide any profit-

sharing to "VIJAY KUMAR GUPTA: INH000020226."

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

b. "VIJAY KUMAR GUPTA: INH000020226" cannot solicit you to engage in PMS

services without holding a SEBI PMS registration. Therefore, do not provide any

funds for PMS services to "VIJAY KUMAR GUPTA: INH000020226" without a valid

SEBI PMS registration certificate.

If you observe any activities that appear to exceed the scope of SEBI RA regulations,

2014, please bring this matter to the attention of "VIJAY KUMAR GUPTA:

INH000020226" compliance team. If the issue remains unresolved for seven days,

you may also consider notifying SEBI regarding these concerns.

 OPTIONAL CENTRALISED FEE COLLECTION MECHANISM:

Centralized Fee Collection Mechanism (CeFCoM): This initiative by SEBI aims to

ensure that investor payments are securely directed to legitimate SEBI-registered

advisors rather than elsewhere.

a. It enables investors to track all payments made to SEBI-registered advisors.

Investors can request a link for the Centralized Fee Collection Mechanism (CeFCoM) from

registered Research Analysts and can make payments using various methods.

The Use of AI Tools in Research and Advisory Services involves several key points:

 Our Recommendations are based on technical and fundamental analysis.

 Our Responsibility for client data security, confidentiality, and compliance is upheld

on the use of AI.

 AI trading risks include system vulnerabilities that can amplify errors.

 Handling sensitive data poses privacy and security risks, including potential breaches.

 Concerns include biased outputs, privacy violations, lack of transparency, data

quality issues, and misleading results from poor data.

 Severe data glitches may result in significant losses related to your security or

portfolio.

Client-level segregation of Research and distribution activities:

The "VIJAY KUMAR GUPTA: INH000020226" mandates client-level segregation of research

and distribution activities per Regulation 26C(5) of RA Regulations.

Existing clients cannot access both services within the same group/family of the RA. New

clients can choose either research or distribution services at on-boarding, but not both.

MODEL PORTFOLIO BY RESEARCH ANALYST:

“VIJAY KUMAR GUPTA: INH000020226” will adhere to the Research Analysts' Guidelines for

recommending a 'model portfolio' whenever necessary.

JURISDICTION, VENUE & GOVERNING LAW:

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

Through Your use of the Website: www.vijayguptaadvisory.com or Services, you agree that

the laws of SEBI shall govern any matter or dispute relating to Service, as well as any dispute

of any kind that may arise between You and the Owner. In case any litigation specifically

permitted under these Service is initiated, the Parties agree to submit to the exclusive

jurisdiction of the courts at Jodhpur, Rajasthan, India. The Parties agree that this choice of

law, venue, and jurisdiction provision is not permissive, but rather mandatory in nature.

AMENDMENTS:

We may modify or update these T&C in accordance with SEBI regulations. Notice of material

changes will be posted on Our website/app or emailed to You. Continued use of the Services

indicates Your acceptance of updated T&C.

INDEMNIFICATION:

You agree to indemnify and hold harmless the RA, its officers, employees, and affiliates from

any and all claims, damages, losses, or liabilities arising out of:

i. Your breach of these T&C or violation of law.

ii. Unauthorized or improper use of your account.

iii. Third-party claims related to your actions or inactions.

SUSPENSION & TERMINATION:

Suspension:

i. We reserve the right to suspend Your account or access to Services with or

without notice if You breach these T&C or if required by SEBI/regulators.

ii. Termination: We may terminate this Agreement immediately upon:

iii. Violation of T&C by You.

iv. Directions from SEBI or any competent regulatory authority.

v. Non-payment of fees (beyond the grace period, if any).