Compliance

Regulatory information & disclosures.

Everything required of a SEBI Registered Research Analyst, in one place — entity details, grievance process, risk and fee disclosures, and our terms of use.

Who we are, on record.

Registration status: Adhyarth's registration as a SEBI Research Analyst is currently under process. The SEBI registration number, GST registration, and BASL enlistment below will be updated the moment each is granted.
Entity Name [Insert legal name of the Individual Research Analyst]
Registration Type Individual — Research Analyst (Full-Time)
Registration Validity Perpetual, once granted
NISM Certification NISM-Series-XV: Research Analyst Certification Examination — Certificate No. 202400290961
SEBI Registration No. Application under process
GST Registration No. Application under process
BASL Enlistment No. Application under process
SEBI Registration Certificate Reserved space — upload the scanned registration certificate (PDF) here once registration is granted.

Your point of contact for regulatory matters.

AN

Adhyayan Negandhi

Compliance & Grievance Officer
Office Hours [Insert availability, e.g. Mon–Fri, 10am–6pm IST]

If something isn't right, here's how we fix it.

We aim to resolve every complaint promptly. If you're not satisfied with our response, SEBI-mandated escalation channels are available below.

  1. Write to us directly. Share your concern with our Compliance Officer via email or phone. [Insert target acknowledgement / resolution timeline.]
  2. Escalate internally. If unresolved, [insert internal escalation contact / process].
  3. SEBI SCORES. If still unresolved, you may lodge a complaint on SEBI's SCORES portal.
  4. Online Dispute Resolution (ODR). Post SCORES, unresolved grievances can be taken up through the SEBI-notified ODR platform.
SEBI SCORES Portal SEBI ODR Portal Investor Charter & Do's / Don'ts
Grievance Escalation Matrix Reserved space — upload the detailed escalation matrix / SOP document here when available.

Investing carries risk. Please read this carefully.

[Reserved space for the full Risk Disclosure Document text, as prescribed under SEBI (Research Analysts) Regulations. Insert the complete, current disclosure language here — do not summarize or shorten.]

[Insert applicable standard warning, e.g. "Investments in securities market are subject to market risks, read all the related documents carefully before investing."]

Risk Disclosure Document (PDF) Reserved space — upload the signed/current Risk Disclosure Document here when available.

Transparent, published fees.

As prescribed by SEBI, our fee structure is disclosed below and is subject to the maximum limits specified by the regulator from time to time.

Service Fee Basis Amount
[Model Portfolios] [e.g. Annual / One-time] [Insert fee]
[Research Reports] [e.g. Subscription] [Insert fee]
[Investor Education] [e.g. Per session] [Insert fee]
Fee Disclosure Document (PDF) Reserved space — upload the detailed, SEBI-compliant fee disclosure document here when available.

Annexure-B: the terms every client agrees to before we begin.

Under Regulation 24(6) of the SEBI (Research Analysts) Regulations, 2014, every Research Analyst must disclose a standard set of terms and conditions — Annexure-B of SEBI's Master Circular for Research Analysts — to a client and obtain their consent before rendering any research service or charging any fee.

Annexure-B covers, among other things, our registration details, the scope of research services provided, fee terms, refund and termination rights, grievance redressal, and the Most Important Terms and Conditions (MITC) prescribed by SEBI. The complete, entity-specific version — signed and provided to every client at onboarding — is reproduced in full below.

Annexure-B — Full Text Reserved space — insert the complete, signed Annexure-B / client consent text verbatim once finalised.
Download Annexure-B — SEBI Master Circular (PDF)

Where AI is — and isn't — used at Adhyarth.

SEBI's Master Circular for Research Analysts requires us to disclose the extent to which AI tools are used in our services. Here is that disclosure, in plain terms.

Research is AI-free. Every stock rating, model portfolio call, and research report published by Adhyarth is researched, written, and signed off entirely by our SEBI-registered human analysts — no AI tool is used to generate, draft, or influence investment recommendations or analysis.

AI tools are used at Adhyarth only for administrative and operational tasks — for example, formatting and scheduling on this website, drafting routine client correspondence, or maintaining internal records. These uses have no bearing on the substance of our research or recommendations. This disclosure will be updated if the scope of AI usage changes.

Our annual compliance audit, at a glance.

SEBI requires every Research Analyst to undergo an annual compliance audit covering adherence to the RA Regulations. Status will be published here after each audit cycle.

Audit Period Covered [Insert financial year, e.g. FY 2025–26]
Audit Status [Insert status, e.g. Scheduled / In Progress / Completed]
Auditor [Insert name of independent auditor / firm]
Report Filed With SEBI / RAASB [Insert filing date once submitted]

General disclaimer.

[Reserved space for the full regulatory disclaimer — registration status, no-guarantee-of-returns language, and any conflict-of-interest disclosures required under SEBI (Research Analysts) Regulations, 2014. Insert complete text here.]