Terms & Conditions

Alpha Plus Capital Associates LLP ("the RA"), registered as a Research Analyst with SEBI under Registration No. INH000025203, provides the following services:

• Equity research reports on publicly listed Indian securities
• Model portfolio recommendations (buy/hold/exit calls on listed equities)
• Sector and thematic research notes

The following are explicitly outside the scope of services provided by this firm:

• Portfolio Management Services (PMS) — we do not hold or manage client funds
• Investment Advisory Services (IA) — we do not provide personalised financial advice
• Execution services — we do not place trades on behalf of clients
• Discretionary management of any client account
• Guarantees of returns or assured profits of any kind

In compliance with SEBI regulations on advance fee collection:

• For monthly subscribers: maximum advance fee is 2 months
• For quarterly subscribers: maximum advance fee is 1 quarter
• Annual fees may be collected upfront subject to the overall ₹1,51,000/year cap

No additional advance fee terms apply beyond the SEBI-mandated caps stated above.

A refund shall be considered applicable under the following conditions: (a) the client requests cancellation within 7 days of subscription commencement and no research report has been delivered — full refund applicable; (b) Alpha Plus Capital Associates LLP fails to deliver the agreed research service for a continuous period of 30 or more days — pro-rata refund for the undelivered period; (c) the RA discontinues its registered research services entirely — pro-rata refund for the unexpired subscription period. To initiate a refund, submit a written request to the grievance email with your subscription details. Approved refunds are processed within 15 business days from the date of approval, via the original payment instrument. Refunds are not applicable for dissatisfaction with research quality or outcome, as research does not guarantee any investment result.

Subscriptions are available on monthly, quarterly, or annual billing cycles. The subscription period commences on the date of successful KYC completion and receipt of fees, with services activated within 2 business days. Subscriptions do not auto-renew by default — clients will be notified via email 14 days prior to expiry. Cancellation may be requested at any time by written notice to the contact email; cancellation takes effect at the end of the current billing period. No partial refunds are issued for the remainder of a billing period except as provided under the Refund Policy (Section 5).

Before initiating a subscription, clients are required to complete the Know Your Client (KYC) process. The following documents are required:

• PAN card (mandatory)
• Address proof (Aadhaar / Passport / Utility Bill)
• A completed and signed Client Registration Form provided by the Research Analyst

Subscription services will not be activated until KYC is satisfactorily completed. The RA reserves the right to seek additional information as required by SEBI directives.

Client information collected during KYC and throughout the subscription period is stored securely and used solely for service delivery, compliance obligations, and regulatory reporting as required by SEBI. Client data is not shared with any third party except as required by applicable law or regulation. All client records are maintained for a minimum of 5 years in compliance with SEBI record-keeping requirements. Clients may write to the contact email to request access to or correction of their personal data.

Research reports and recommendations published by Alpha Plus Capital Associates LLP are for informational purposes only and do not constitute investment advice, portfolio management, or any guarantee of returns.

The RA shall not be liable for any loss, damage, or missed opportunity arising from reliance on research recommendations. Investment decisions remain at the sole discretion and responsibility of the client.

Investment in securities market are subject to market risks. Past performance is not indicative of future results.

In case of any dispute or grievance, the following 3-stage process applies:

• Stage 1: Write to Alpha Plus Capital Associates LLP at compliance@alphapluscapital.in — resolution within 21 calendar days
• Stage 2: If unresolved within 30 days — escalate via SEBI SCORES
• Stage 3: For monetary disputes — approach SMART-ODR

These Terms & Conditions are governed by the laws of India, including the SEBI (Research Analysts) Regulations, 2014. Any disputes shall be subject to the exclusive jurisdiction of the courts at Mumbai, India, unless otherwise resolved through the grievance redressal or ODR process.

Alpha Plus Capital Associates LLP reserves the right to amend these Terms & Conditions and MITC as required by changes in SEBI regulations or operational requirements. Clients will be notified of any material amendments via email at least 30 days prior to the effective date. Continued subscription after the amendment effective date shall be deemed acceptance of the revised terms. Clients unwilling to accept material changes may cancel their subscription before the effective date and apply for a pro-rata refund for the unexpired subscription period.