Terms of Service

"Research" means any research report, model portfolio, recommendation, analysis, alert, or educational content published by the Company through the Platform.

"Platform" means the Company's website, web application, and any associated digital interfaces through which the Services are delivered.

"Subscription" means the paid access to one or more of the Company's research products for a defined period.

"KYC" means the Know Your Client process as mandated by SEBI for Research Analyst subscribers.

"MITC" means the Most Important Terms and Conditions document that subscribers must acknowledge before activation.

You must be at least 18 years of age and a resident of India to subscribe to the Services. By subscribing, you represent that you meet these eligibility criteria. The Company reserves the right to verify your identity and eligibility through KYC processes mandated by SEBI.

Entities such as corporate bodies, trusts, HUFs, and partnership firms may subscribe through their authorised representatives, subject to submission of appropriate documentation.

The Company provides independent equity research, including model portfolios, research reports, and market analysis. The Research is general in nature and is not personalized investment advice. It is not tailored to the specific investment objectives, financial situation, or needs of any individual subscriber.

The Company is a SEBI-registered Research Analyst and not an Investment Adviser, Portfolio Manager, or Stock Broker. The Services do not include execution of trades, management of funds or securities, or any form of portfolio management.

Access to Research requires an active paid Subscription. Fees are as published on the Platform's pricing page and are inclusive of applicable taxes (GST at 18%).

In compliance with SEBI (Research Analysts) Regulations, 2014 (as amended), the maximum fee that a Research Analyst may charge per client (or per family of the client, as applicable) shall not exceed INR 1,51,000 per annum (inclusive of taxes) across all products combined. The Company adheres to this fee cap.

Subscriptions are for a fixed term as selected at the time of purchase. Renewal is not automatic — you will be notified before your Subscription expires and may choose to renew.

In accordance with SEBI regulations, refunds are handled as follows:

• Discontinuation by the Company: If the Company discontinues a research product or ceases operations, subscribers will receive a pro-rata refund for the unexpired portion of their Subscription.
• Subscriber-initiated cancellation: Subscribers may request cancellation at any time. A pro-rata refund for the unexpired period will be processed, subject to a reasonable administrative fee (not exceeding 10% of the proportional unused amount), within 30 business days.
• Cooling-off period: Subscribers may cancel within 7 calendar days of subscription activation for a full refund, provided they have not accessed or downloaded any Research content.

Refunds will be processed to the original payment method. All refund requests must be sent to support@mithrilresearch.in.

All Research content is provided for the personal use of the Subscriber only. You shall not:

• Redistribute, share, forward, or publish any Research content to any third party, whether for free or for consideration
• Use the Research for commercial purposes, including resale or redistribution
• Copy, scrape, or systematically extract content from the Platform
• Misrepresent the Research as your own analysis or the analysis of any entity other than Mithril Research LLP

Violation of these restrictions may result in immediate termination of your Subscription without refund and may give rise to legal proceedings.

All content on the Platform, including Research reports, analysis, model portfolios, data, text, graphics, logos, and software, is the intellectual property of Mithril Research LLP and is protected under applicable Indian intellectual property laws. Your Subscription grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Research for personal, non-commercial purposes only.

To the maximum extent permitted by applicable law, the Company, its partners, employees, and affiliates shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising from or in connection with:

• Your use of or inability to use the Services
• Any investment decisions made based on the Research or any other content on the Platform
• Any errors, inaccuracies, or omissions in the Research
• Unauthorized access to or alteration of your data or transmissions
• Service interruptions, delays, or system failures

In no event shall the Company's total liability exceed the amount of Subscription fees actually paid by you for the current Subscription period.

These Terms shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with these Terms or the Services shall be subject to the exclusive jurisdiction of the courts at [City TBD], India.

Nothing in these Terms shall restrict or limit SEBI's regulatory jurisdiction or the rights of investors to seek redressal through SEBI SCORES or Smart ODR.

The Company reserves the right to modify these Terms at any time. Material changes will be communicated to subscribers via email and/or a prominent notice on the Platform at least 30 days before they take effect. Your continued use of the Services after the effective date of any modification constitutes acceptance of the revised Terms. If you do not agree with the modified Terms, you may cancel your Subscription and request a pro-rata refund.

You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account. You must notify us immediately at support@mithrilresearch.in if you become aware of any unauthorized use of your account. The Company shall not be liable for any loss arising from unauthorized use of your credentials.

For questions or concerns regarding these Terms, please contact:

Mithril Research LLP
SEBI Registration No.: INE000XXXXXX (pending)
Email: support@mithrilresearch.in