Terms & Conditions

I hereby provide my express consent to Hem Securities Limited/Hem Finlease Private Limited to undertake the Know Your Customer (KYC) process through online/digital mode for the purpose of opening my Demat and Trading account, in accordance with the applicable regulatory guidelines issued by SEBI and other competent authorities.

I also agree to share the OTP as and when required to complete the online account opening process.

I have understood the information requirements of this form (read along with FATCA and CRS instructions) and hereby confirm that the information provided by me/us on this form is true, correct and complete. I also confirm that I have read and understood the FATCA & Terms and conditions and hereby accept the same. The name in your account will be updated as per the Income Tax database in accordance with applicable exchange regulations.

Acknowledgment of Terms and Conditions:

I have read, understood, and agree to abide by the terms and conditions of the broking account as outlined in the account opening form and the Hem Securities Limited/Hem Finlease Private Limited policies.

Consent to Verification:

I hereby give my consent to HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED conducting necessary background verifications and contacting me even if my number is registered on DND, including validation of my KYC (Know Your Customer) documents, as required under applicable regulations.

I agree and give my express consent to fetch Your PAN number from the Credit Bureaus, based on my verified mobile number provided by me for the purpose of providing you with the HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED services.

I agree and give my consent to use my mobile number to check for existing Account Aggregator profiles linked to my mobile number to improve experience.

I/We also instruct HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED to download information available from KRA/CKYC. 

I am/We are also aware that for Aadhaar OVD based KYC, my KYC request shall be validated against Aadhaar details. I/We hereby consent to sharing my/our masked Aadhaar card with readable QR code or my Aadhaar XML/Digilocker XML file, along with passcode and as applicable, with KRA and other Intermediaries with whom I have a business relationship for KYC purposes only.

I understand and agree that HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED reserves the right to reject, suspend, restrict, or terminate my account opening request or related services at its sole discretion in case of regulatory, compliance, risk management, suspicious activity, or incomplete documentation requirements.

I acknowledge that OTPs, passwords, MPINs, and authentication credentials are confidential in nature and shall not be shared with any third party. I understand that HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED shall not be liable for any unauthorized access or transactions arising due to my negligence.

I agree that electronic records, digital consents, OTP-based authentication, and electronic communications shall constitute valid and legally binding acceptance under applicable laws, including the Information Technology Act, 2000.

I understand that investments and trading in securities markets are subject to market risks, and HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED does not guarantee any returns, profits, or protection against losses.

I understand that certain services may depend upon third-party platforms, exchanges, depositories, banks, payment gateways, telecom operators, or regulatory systems, and HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED shall not be liable for delays, failures, or interruptions caused by such third-party systems.

I understand and agree that HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED reserves the right to amend, modify, or update its policies, charges, terms, and conditions from time to time in accordance with applicable laws and regulatory requirements.

I agree that all disputes shall be subject to the exclusive jurisdiction of courts and regulatory authorities located in Jaipur, India.

I understand that I may withdraw consent for non-mandatory communications or services in accordance with applicable laws and internal policies.

I authorize HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED to share my information with exchanges, depositories, regulators, statutory authorities, or government agencies as required under applicable laws and regulatory requirements.

I understand that inactive or dormant accounts may be temporarily restricted in accordance with applicable regulatory guidelines and internal risk management policies.

I hereby give my consent to monitoring and recording of calls, emails, chats, and electronic communications for compliance, audit, grievance handling, surveillance, and security purposes.

I hereby give my consent to the collection and processing of device details, browser information, IP address, and application usage data for security, fraud prevention, analytics, and compliance purposes.

I hereby give my consent to receive communications, alerts, statements, regulatory updates, promotional messages, and service-related information through SMS, email, calls, WhatsApp, push notifications, or other electronic modes, even if my mobile number is registered under DND/NCPR.

I understand that HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED acts as an execution platform and shall not be responsible for my investment decisions unless specifically agreed otherwise.

I understand and agree that HEM SECURITIES LIMITED / HEM FINLEASE PRIVATE LIMITED shall not be liable for any loss, delay, interruption, or inability to perform arising due to force majeure events including system failures, cyber-attacks, natural disasters, regulatory restrictions, network outages, or events beyond reasonable control.

I/We wish to opt for Electronic Delivery Instruction Slip (E-DIS)/DDPI at the time of account opening. However, the physical DIS booklet should be issued to me/us immediately on my/our request at any later date.

HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED will provide the DP statement as per the SEBI requirement.

HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED will share the email ID with the RTA and capture the default mode as electronic for receiving Annual reports.

Dividends/interest will be received directly into the client's bank account through ECS.

I hereby acknowledge that I have read, understood, and agreed to the terms outlined in HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED Privacy Policy. I hereby provide my consent for HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED to collect, use, store, and process my personal data in accordance with the provisions set forth in the Privacy Policy.

I confirm that my sole country of residence is India. I understand that the information provided in this application is required for regulatory and compliance purposes.

I confirm that the bank account(s), Aadhaar, and PAN details provided belong to me and are accurate.

I authorize HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED to access and verify my information for account setup, compliance, and service-related purposes.

I authorize HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED to facilitate transactions and related activities as requested by me through the mobile application.

I understand that enabling trading features is subject to applicable regulations and internal policies of HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED.

I acknowledge that I have read, understood, accepted, and agreed to the following documents and policies:

• Terms & Conditions  

• Privacy Policy  

• Risk Disclosure Document  

• Tariff / Schedule of Charges  

• Rights & Obligations  

• Policies and Procedures

• Risk Management Policy  

Risk Disclosure Statement:

I acknowledge and accept the risks involved in trading and investing in securities and derivatives, as detailed in the Risk Disclosure Document provided to me.

Use of Personal Information:

I authorize HEM SECURITIES LIMITED/HEM FINLEASE PRIVATE LIMITED to collect, process, and use my personal and financial information in accordance with applicable laws and the firm's privacy policy.

TERMS AND CONDITIONS

Applicable to: www.hemsecurities.com  and  www.hemnxt.com

IMPORTANT: Please read these Terms and Conditions carefully before accessing, registering on, or using the Platform or any of the HSL/HFPL Services. By proceeding further or completing the registration process, you confirm that you have read, understood, and agreed to be legally bound by these Terms and Conditions and our Privacy Policy. If you do not agree to any of these terms, you must immediately exit this website.

1. Introduction

These Terms and Conditions of Use ("Terms") govern your access to and use of the websites www.hemsecurities.com and www.hemnxt.com (collectively, the "Platform"), along with all services, tools, and content made available by Hem Securities Limited and Hem Finlease Private Limited (collectively referred to as "HSL/HFPL", "we", "us", or "the Company").

These Terms constitute an electronic record within the meaning of the Information Technology Act, 2000 and the rules made thereunder, and are generated by a computer system without the requirement of any physical signature. Your use of the Platform, or your completion of the registration process, serves as your express acceptance of these Terms.

2. Acceptance of Terms

By accessing the Platform or availing any HSL/HFPL Services, you confirm that:

• You have fully read, understood, and agree to be bound by these Terms and our Privacy Policy.

• You are at least 18 years of age, or are a guardian acting on behalf of a minor with the necessary authority to do so.

• You are legally competent to enter into a binding contract and are not barred from receiving services under any applicable law.

• You are accessing the Platform in your individual capacity, or as a duly authorised signatory of a legal entity.

• All information and documents provided by you during registration and thereafter are true, accurate, and complete.

You further acknowledge that the Company retains the right to amend these Terms at any time, with or without notice. It is your responsibility to review these Terms periodically. Your continued use of the Platform following any modification constitutes your acceptance of the revised Terms.

3. Eligibility

To use the Platform and avail HSL/HFPL Services, you must satisfy the following eligibility criteria:

• You must be 18 years of age or older. If you are a guardian registering on behalf of a minor, you must have the legal authority to do so.

• You must be legally competent to enter into a binding contract under the Indian Contract Act, 1872.

• You must not have been barred, suspended, disqualified, or debarred by the Company or any regulatory or statutory authority.

• You must ensure that funds invested are from your own bank account (or the primary account holder's account in the case of a joint account), sourced from legitimate channels through approved banking methods.

• You agree to make all investment decisions independently and on an informed basis after reading the relevant offer documents.

• You acknowledge sole responsibility for all investment decisions executed on the Platform, and HSL/HFPL shall not be held liable for any resulting losses.

The Company reserves the right to refuse access to the Platform or to terminate the account of any user who does not meet the eligibility criteria or who has been suspended or debarred for any reason.

4. User Account, Password and Security

To access the HSL/HFPL Services, you are required to complete the registration process on the Platform by providing accurate and complete information including, but not limited to, your mobile number, name, email address, date of birth, PAN, Aadhaar, nominee details, bank account details, photograph, and video recording, as may be required.

Your account will be activated upon successful KYC verification in accordance with the guidelines issued by SEBI, the relevant Exchanges (NSE/BSE/MCX), and Depositories (CDSL/NSDL).

With respect to account security, you agree to the following:

• You shall maintain the confidentiality of your login credentials at all times and shall not share them with any third party.

• You shall notify the Company immediately upon becoming aware of any actual or suspected unauthorised use of your account.

• You shall ensure you log out from your account at the end of every session.

• You shall be solely responsible for all activities that occur under your account and for any loss or damage resulting from your failure to maintain account security.

If you provide information that is found to be untrue, inaccurate, or incomplete, or if the Company has reasonable grounds to believe so, the Company reserves the right to suspend or terminate your account and deny access to all or any portion of the Platform.

You also consent to HSL/HFPL sharing your KYC documents with KYC Registration Agencies (such as CVL) as required. Once uploaded to the KYC Registration Agency system, such documents may be accessed by other intermediaries with whom you enter into a business relationship.

5. Consent

By using the Platform and availing HSL/HFPL Services, you hereby provide the following express consents:

• You consent to receiving communications via SMS, email, WhatsApp, telephone calls, notifications, and other electronic means from HSL/HFPL, its affiliates, and authorised third parties regarding onboarding, products, services, and promotional and transactional messages.

• You consent to HSL/HFPL and its regulated group entities fetching and accessing your credit information from Credit Information Companies, for the purpose of creditworthiness assessment and due diligence.

• You consent to HSL/HFPL sharing your personal information with affiliates or partners to meet regulatory requirements applicable to them.

• You consent to HSL/HFPL fetching your PAN from Credit Bureaus based on your verified mobile number, for the purpose of providing HSL/HFPL Services.

• You consent to the use of your mobile number to verify existing Account Aggregator profiles to enhance your experience.

You have the option to withdraw your consent at any time, subject to the fulfilment of any pending contractual obligations. Withdrawal of consent may result in denial of access to all or part of the HSL/HFPL Services. Your continued use of the Platform following any modification of these Terms shall be deemed as acceptance of such modifications.

You may opt out of promotional communications at any time by writing to our support team. Please note that deletion of the HSL/HFPL application does not extinguish your existing obligations under these Terms or any associated agreements.

6. HSL/HFPL Services and Platform

The Platform enables users to avail financial services offered by HSL/HFPL, including stock broking, demat account management, and other related financial services, directly or through its associates, group entities, subsidiaries, and affiliates.

The Company grants you a limited, non-exclusive, non-transferable, royalty-free licence to use the Platform solely for the purpose of availing HSL/HFPL Services.

Please note the following with respect to the services available on the Platform:

• The Platform may describe services currently being offered as well as those intended to be offered in the future. HSL/HFPL reserves the right to vary, postpone, or withdraw the offering of any service without prior notice.

• HSL/HFPL may modify or discontinue the Platform, or any part thereof, temporarily or permanently, at any time and without liability to you or any third party.

• All services are subject to applicable laws and regulations, including guidelines issued by the Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI), and other regulatory bodies.

7. Refund Policy

Transactions on the Platform with respect to stock broking and other HSL/HFPL Services are completed only after successful transfer of funds from your registered bank account. Securities purchased will be credited to your demat account within one (1) working day, or within such other period as stipulated by the applicable regulatory authority, from the date of the trade.

You acknowledge and agree that once a transaction on the Platform is completed, it cannot be cancelled by you.

In the event a transaction is recorded as successful and funds are debited from your account but the corresponding securities or services are not received, the amount will be refunded to your registered bank account within the period prescribed under applicable law. The Company, its affiliates, and partners shall not be liable for any technical or other issues originating outside of the Company's systems.

8. Content and Intellectual Property

All content and information available on the Platform, including text, graphics, logos, icons, images, data compilations, and software, is the property of HSL/HFPL or its content providers and is protected under applicable copyright and intellectual property laws.

The trademarks, trade names, and logos displayed on the Platform are registered and unregistered marks of HSL/HFPL and third parties. Nothing on the Platform shall be construed as granting any licence or right to use any trade mark without the prior written permission of HSL/HFPL or the respective owner.

You agree that you shall not:

• Copy, reproduce, modify, upload, transmit, or distribute any content from the Platform for any commercial or public purpose without prior written consent from HSL/HFPL.

• Remove or alter any intellectual property notices, copyright notices, or other proprietary markings on the Platform.

• Create derivative works from any content on the Platform without authorisation.

Content submitted by users on discussion boards or forums on the Platform remains the property of the respective user. However, by submitting content to the Platform, you grant HSL/HFPL a worldwide, irrevocable, perpetual, royalty-free, non-exclusive licence to reproduce, modify, adapt, and publish such content. You also permit other users to copy, distribute, and display your content on the condition that they credit your authorship.

News and market data on the Platform may be sourced from external data content agencies. HSL/HFPL is not responsible for the accuracy, completeness, or availability of such third-party data.

9. Third-Party Websites and Links

The Platform may contain links to third-party websites. HSL/HFPL provides such links solely for your convenience and does not endorse, recommend, or take responsibility for the content, accuracy, or services available on any linked website. Accessing third-party websites is entirely at your own risk.

No representation or warranty is made regarding the accuracy, timeliness, or suitability of content on linked websites, and HSL/HFPL expressly disclaims any liability in connection with the same.

10. WhatsApp Groups and Communication Channels

HSL/HFPL may create and administer WhatsApp groups ("Groups") through its authorised representatives for the purpose of communicating information relating to financial investments and financial products. Membership in and use of such Groups is subject to the following:

10.1 Prohibited Conduct

Participants in the Groups shall not:

• Share, upload, or transmit any unlawful, defamatory, abusive, violent, obscene, or objectionable content.

• Harass, stalk, threaten, or harm any other participant through the Groups.

• Infringe any copyright, intellectual property right, or disclose any confidential or personal information in violation of any agreement or applicable law.

• Transmit unsolicited commercial messages, spam, or chain letters.

• Upload or share any material containing viruses or malicious code.

• Post religious, political, or off-topic content such as jokes and poems.

• Provide investment advisory, research advisory, or any related advisory services unless duly authorised under applicable law.

• Impersonate any person, entity, or representative of HSL/HFPL.

10.2 Group Administration

The Group Administrator retains sole discretion to determine whether content posted is appropriate and in compliance with these Terms, and reserves the right to remove any participant from the Group for any violation or at its discretion. Removal from the Group shall not constitute defamation.

Views or comments posted by participants do not represent the views of the Group Administrator, HSL/HFPL, or its affiliates. Participants are advised to independently verify any information, including investment-related views, shared within the Groups.

Your personal information, including your mobile number, that is visible in the Group may be used by other participants or the Group Administrator to communicate with you. By remaining in the Group, you consent to such communication.

11. Prohibited Uses

You agree that you will not use the Platform for any of the following purposes:

• Selling, transferring, or assigning your account to any third party.

• Impersonating any other person or entity for the purpose of creating an account or using the Platform.

• Uploading or transmitting any content that is unlawful, defamatory, obscene, or otherwise objectionable.

• Conducting any fraudulent, deceptive, or manipulative activities on the Platform.

• Circumventing or attempting to circumvent any security measures on the Platform.

• Using the Platform in a manner that violates any applicable law, SEBI regulation, or exchange guideline.

12. Violations and Suspension or Termination

Any violation of these Terms shall constitute an unlawful act and may cause irreparable harm to HSL/HFPL, its affiliates, and partners. HSL/HFPL reserves the right to seek injunctive or other equitable relief in such circumstances, in addition to any remedies available at law or in equity. In the event the Company initiates legal action against you for any such violation, you agree to reimburse all reasonable legal fees and costs incurred.

HSL/HFPL may, at its sole discretion and without prior notice, suspend or terminate your account and restrict your access to the Platform in any of the following circumstances:

• Breach or violation of any provision of these Terms or any applicable law.

• Conduct that is fraudulent, deceptive, or unethical.

• Misrepresentation of information provided during registration or otherwise.

• Requirements of risk management or regulatory compliance.

Termination of your account shall not extinguish any obligations you may have to HSL/HFPL under these Terms or any other agreements. Transaction history may be retained for purposes of regulatory and tax compliance. Where termination is initiated by HSL/HFPL, you will be notified by email.

If you wish to close your account, you may do so by contacting HSL/HFPL's support team. Any pending obligations must be discharged prior to account closure.

13. Indemnification

You agree to indemnify, defend, and hold harmless HSL/HFPL and each of its employees, agents, consultants, contractors, content providers, affiliates, and representatives from and against all claims, liabilities, losses, damages, costs, and expenses (including reasonable legal fees and court costs) arising from or in connection with:

• Any breach of your representations, warranties, or obligations under these Terms.

• Improper or unauthorised use of your account or the HSL/HFPL Services by you or any third party.

• Your failure to maintain the security and confidentiality of your login credentials.

• Your failure to inform HSL/HFPL of any changes to your personal or account information.

• Your failure to comply with any applicable law, SEBI guideline, or HSL/HFPL usage policy.

• Any action or inaction by HSL/HFPL taken in good faith based on your instructions.

14. Disclaimers and Limitation of Liability

HSL/HFPL shall not be liable for:

• Any misrepresentation, falsification, or unavailability of services advertised on the Platform, where such issues do not originate from the Company's own systems.

• Any loss or damage resulting from your downloading of information or software from the Platform.

• Any technical failure, non-responsiveness, or delay attributable to circumstances beyond the Company's reasonable control.

• The content, accuracy, or availability of any third-party website to which the Platform links.

• The accuracy, completeness, or timeliness of any news, market data, or content sourced from external data providers.

15. Regulatory Caution

SEBI CAUTION: INVESTMENTS IN THE SECURITIES MARKET (INCLUDING MUTUAL FUND INVESTMENTS) ARE SUBJECT TO MARKET RISKS. PLEASE READ ALL INVESTMENT, OFFER AND SCHEME-RELATED DOCUMENTS CAREFULLY BEFORE INVESTING. FOR THESE TERMS, THE TERM "OFFER DOCUMENT(S)" REFERS COLLECTIVELY TO OFFER DOCUMENTS, SCHEME INFORMATION DOCUMENTS, STATEMENT OF ADDITIONAL INFORMATION, AND KEY INFORMATION MEMORANDA ISSUED BY THE RELEVANT ASSET MANAGEMENT COMPANY, AND ANY DOCUMENTS PERTAINING TO A PUBLIC OFFER.

16. Privacy Policy

Your use of the Platform is also governed by HSL/HFPL's Privacy Policy, which is incorporated into these Terms by reference. The Privacy Policy sets out how we collect, use, store, share, and protect your personal data. We strongly encourage you to read the Privacy Policy available on www.hemsecurities.com and www.hemnxt.com before using the Platform.

17. Force Majeure

HSL/HFPL shall not be held liable for any failure or delay in providing access to your account or services where such failure or delay is caused by events beyond its reasonable control, including but not limited to acts of God, fire, flood, earthquake, storm, war, civil unrest, network disruptions, pandemic, epidemic, regulatory restrictions, governmental orders, third-party hosting failures, internet service disruptions, or changes in law. This includes disruptions caused by cyber incidents, systemic outages, or regulatory actions.

18. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India.

With respect to transactions executed on the Exchanges (NSE/BSE/MCX), such transactions are subject to the rules, bye-laws, regulations, and circulars of the respective Exchange, and all parties submit to the jurisdiction of courts as specified by the bye-laws and regulations of the Exchange.

Subject to the above, disputes relating to these Terms and any agreement arising under or in connection with HSL/HFPL Services shall be subject to the exclusive jurisdiction of courts at Jaipur.

19. General Provisions

19.1 Notices

All official communications and notices from HSL/HFPL will be delivered to your registered email address or mobile number, or by way of general notification on the Platform. It is your responsibility to keep your contact details updated.

19.2 Assignment

You may not assign or transfer any of your rights or obligations under these Terms to any third party without the prior written consent of HSL/HFPL. HSL/HFPL may freely assign its rights and obligations under these Terms to any third party without requiring your consent.

19.3 Severability

If any provision of these Terms is found to be unenforceable by a court of competent jurisdiction, that provision shall be enforced to the maximum extent permissible, and the remaining provisions shall continue in full force and effect.

19.4 Modifications

HSL/HFPL reserves the right to modify these Terms at any time without prior notice. The most current version of these Terms will always be available on the Platform. Your continued use of the Platform after any modification constitutes your acceptance of the revised Terms.

19.5 Entire Agreement

These Terms, together with the Privacy Policy and any other agreements, disclosures, or notices provided to you, constitute the entire agreement between you and HSL/HFPL with respect to your use of the Platform and the HSL/HFPL Services.

20. Grievance Redressal and Reporting

If you encounter any abuse, objectionable content, or violation of these Terms on the Platform, or if you have any queries or complaints regarding the HSL/HFPL Services, please contact our Grievance Officer using the contact details available on the Platform.

HSL/HFPL is committed to addressing all grievances in a timely manner in accordance with applicable law and SEBI guidelines.

By accessing this website, you confirm your acceptance of these Terms and Conditions.

RA Terms and Conditions

1. INTRODUCTION

1.1. PARTIES

• Research Entity (herein referred to as “RA”)

  • Registered with the Securities and Exchange Board of India (“SEBI”) under RA Registration No. INH100002250 and Name Hem Securities Limited

• Client (herein referred to as “Client”)

  • The individual or entity subscribing to or availing research services.

  • Must meet the eligibility requirements set forth herein and under Indian law.

2. PURPOSE

2.1. SCOPE OF TERMS

These Terms & Conditions (“T&C”) govern the Client’s from time to time use or subscription of our research services (“Services”), including any Digital Platforms, or technology solutions that we provide.

2.2. Compliance with SEBI Circular

• This document incorporates the minimum mandatory provisions contained in the SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025 (“the Circular”) and relevant amendments to the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”).

• In case of conflict between these T&C and any applicable regulations/guidelines issued by SEBI, the SEBI regulations/guidelines shall prevail.

3. DEFINITIONS

3.1. General Definitions

Unless the context otherwise requires, the following definitions apply in this T&C:

• “Client”: Any person or entity that registers with the RA and agrees to these T&C to avail the Services.

• “Services”: Includes (a) research reports, data, model portfolios, or analyses pertaining to Indian-listed securities; (b) any online or offline advisory/research support; (c) any communications related thereto.

• “Digital Platform”: Includes websites, mobile or web applications, or other technology platforms used for delivering the Services.

• “KYC”: Know Your Customer—verification process mandated by SEBI to establish the identity of Clients.

4. SCOPE OF SERVICES

  4.1. Research-Only / No Execution

• You hereby agree and acknowledge that the RA provides research and analysis only and We do not execute trades on behalf of Clients, hold Clients’ funds, or provide any assured returns.

4.2. Model Portfolios

• Where offered our model portfolios are recommendations for basket(s) of securities with weightages. You hereby agree and acknowledge that such recommendations are for informational purposes only and do not guarantee performance or returns.

• We shall ensure compliance with the SEBI’s model portfolio guidelines, as outlined in Annexure- A of the Circular.

4.3. Use of Artificial Intelligence (AI)

• In an event we use AI tools (in whole or part) to generate or support research outputs, We shall remain solely responsible for the quality, accuracy, security, and confidentiality of data.

• We shall disclose the extent of AI usage to the Client when providing Services (or whenever material changes occur).

4.4. No Guarantee of Returns

• You hereby agree and acknowledge that all investments carry market risk. Any past performance is not indicative of future returns, and the RA does not assure or promise any specific gain or outcome.

5. ELIGIBILITY

5.1. Legal Capacity

• Only individuals aged 18 years or older (and otherwise competent to contract) or legally incorporated entities may register.

• If you are a minor or otherwise incapacitated to enter into a contract, you are not permitted to use or subscribe to the Services.

5.2. KYC Compliance

• You hereby agree and acknowledge that you shall provide accurate and complete information for the purpose of KYC.

• RA shall verify and/or store such KYC in accordance with SEBI regulations.

• The RA may terminate or suspend Services if KYC requirements are not met as the applicable regulations or if the information provided is incomplete, false, or misleading.

6. REGISTRATION & ACCOUNTS

6.1. Registration Process

• To access our Services, Clients shall complete the registration form, provide all mandatory details, and accept these T&C.

• The RA reserves the right to reject or cancel registration any of the information provided by you, is incorrect or if the Client is ineligible to avail the Services under applicable law.

6.2. Security of Credentials

• You agree and acknowledge that you shall keep your login information (including but not limited to username, password) confidential. You shall be liable for any unauthorized use of your account resulting from negligence or sharing of your credentials.

• You shall notify us immediately if you suspect any breach of your account security.

6.3. Use of Services

• You shall not reproduce, distribute, copy, sell, or otherwise exploit our research content without express written consent from the RA.

• Any unauthorized use of our services shall constitute grounds for termination of Services and may lead to legal action against you.

7. FEES & PAYMENT CLAUSE

There is no fee for providing research services to the Client. RA shall provide research services  at no cost to the Client. 

8. MINIMUM MANDATORY TERMS & CONDITIONS

Below are the minimum mandatory T&C required by the above circular. These  provisions are integral to our agreement with you: 

8.1 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 RA  at his/her sole discretion. RA confirms that research services shall be rendered in  accordance with the applicable provisions of the RA Regulations. 

8.2 Obligations on RA: RA 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. 

8.3 Client Information and KYC: The client shall furnish all such details in full as  may be required by the RA in its standard form with supporting details, if required, as  may be made mandatory by RAASB/SEBI from time to time. 

RA shall collect, store, upload and check KYC records of the clients with KYC  Registration Agency (KRA) as specified by SEBI from time to time. 

8.4 Standard Terms of Service: By agreeing to these Terms and Conditions, the  client confirms 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 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 – 

i. Any investment made based on the recommendations in the research report are  subject to market risk. 

ii. Recommendations in the research report do not provide any assurance of  returns. 

iii. There is no recourse to claim any losses incurred on the investments made  based on the recommendations in the research report.” 

Declaration of the RA that: 

i. It is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts)  Regulations, 2014 and its registration details are: (registration number, registration  date); 

ii. It has registration and qualifications required to render the services  contemplated under the RA Regulations, and the same are valid and subsisting; 

iii. Research analyst services provided by it 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; 

iv. The maximum fee that may be charged by RA is ₹1.51 lakhs per annum per  family of client. 

v. The recommendations provided by RA do not provide any assurance of  returns. 

8.5 Consideration and mode of payment: The client shall duly pay to RA, the  agreed fees for the services that RA renders to the client and statutory charges, as  applicable. Such fees and statutory charges shall be payable through the specified  manner and mode(s)/ mechanism(s). 

8.6 Risk factors: Investment in securities market based on the recommendations  in the research report is subject to market risk, read all scheme related documents  carefully before investing. Please read the Risk Disclosure Document prescribed by  the Stock Exchanges carefully before investing. There is no assurance or guarantee of  the returns. There is no recourse to claim any losses incurred on the investments  made based on the recommendations in the research report. 

8.7 Conflict of interest: The RA 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. (A statement covering the  mandatory disclosures to be added under this clause by the RA.) 

8.8 Termination of service and refund of fees: Disclosure that the RA 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. 

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. 

8.9 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 RA, shall be  escalated promptly by the client to the designated officer Mr. Rohit Sharma at e-mail  compliance@hemsecurities.com 

The RA 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. 

RA shall redress grievances of the client in a timely and transparent manner. 

Any dispute between the RA and his client may be resolved through arbitration or  through any other modes or mechanism as specified by SEBI from time to time. 

8.10 Additional clauses: All additional voluntary clauses added by the RA should  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. 

8.11 Mandatory notice: Clients shall be requested to go through Do’s and Don’ts  while dealing with RA 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  time. 

8.12 Most Important Terms and Conditions (MITC): The terms and conditions shall  also include the Most Important Terms and Conditions (MITC) which is standardised  by Industry Standards Forum (ISF) in consultation with SEBI and RAASB (Provided in  Annexure-A) 

“The terms and conditions and the consent thereon are for the research services  provided by the RA and RA 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.” 

8.13 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. 

9. REPRESENTATIONS & WARRANTIES

9.1. RA’s Declarations

• The RA declares that it is duly registered under the SEBI (Research Analysts) Regulations, 2014.

• The RA, including its Principal Officer (if applicable), meets or exceeds the qualification and certification requirements mandated by SEBI or National Institute of Securities Markets (“NISM”).

• The RA’s services do not conflict with or violate any law or regulation to which it is subject.

9.2. Client’s Declarations

• You represent that you are legally entitled to enter this Agreement and that Your KYC details are true and correct.

• You understand the nature of market risks and volatility inherent in securities investments.

10. CONFIDENTIALITY & DATA PROTECTION

10.1. Privacy of Client Data

• We respect your privacy and will not share or disclose Your personal data except as required by law or to fulfill regulatory obligations (e.g., KYC checks).

• However, we may share aggregated or anonymized data for research or compliance purposes, without revealing individual identities.

10.2. Security of Client Data

• While we endeavor to protect data transmissions, we cannot guarantee the complete security of data over the internet.

• You acknowledge that data transfers may be unencrypted and may pass over multiple networks.

11. LIMITATION OF LIABILITY

11.1. No Assured Returns

• We shall not be liable for any direct, indirect, incidental, or consequential losses, including lost profits, due to your reliance on our research reports or model portfolios.

11.2. Force Majeure

• The RA is not liable for failures or delays in performance arising from events beyond its control, including natural disasters, power outages, or disruptions in telecommunication systems.

11.3. Third-Party Data

• We rely on third-party market data providers. We do not audit or guarantee the correctness of such data, and shall not be held liable for inaccuracies.

12. INDEMNIFICATION

12.1. Indemnity

• 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: Your breach of these T&C or violation of law.

• Unauthorized or improper use of your account.

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

13. SUSPENSION & TERMINATION

13.1. Suspension

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. 

13.2. Termination

We may terminate this Agreement immediately upon: 

1. Violation of T&C by you. 

2. Directions from SEBI or any competent regulatory authority. 

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

4. Refunds (if any) shall be governed by Section 7.4 above. 

14. MISCELLANEOUS

14.1. Amendments

• We may modify or update these T&C in accordance with SEBI regulations. Notice of material changes will be posted on our designated website www.hemsecurities.com or emailed to you. Continued use of the services indicates your acceptance of updated T&C.

14.2. Severability

• If any provision is held invalid by a competent authority, the remaining provisions shall continue in effect.

14.3. Governing Law & Jurisdiction

• These T&C shall be governed by and construed in accordance with the laws of India, and any disputes shall be subject to the exclusive jurisdiction of the courts/tribunals in Jaipur or as directed by SEBI.

14.4. No Agency

• Nothing in these T&C shall be deemed to constitute a partnership, agency, or joint venture between the RA and the Client.

14.5. Disclaimer

• Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

• Investing in stocks/ETFs is subject to market risks. Read all related documents carefully before investing. Consult a qualified financial advisor to understand suitability.

Most Important Terms and Conditions (MITC)  

[Forming part of the Terms and Conditions for providing research services]  

• These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.

• The fee charged by RA 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).

  • 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.

• RA 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 RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.

• Fees to RA 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).

• The RA 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 RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.

• 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 RA.

• The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.

• 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 RA shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.

• The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.

• For any grievances, step 1: the client should first contact the RA using the details on its website https://www.hemsecurities.com/Support. 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.

• Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.

The RA 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.