Vinay Kumar Taparia – SEBI Registered Research Analyst

Investor Charter in respect of Research Analyst (RA)

A. Vision and Mission Statements for investors

Vision
Invest with knowledge & safety.

Mission
Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

B. Details of business transacted by the Research Analyst with respect to the investors

• To publish research report based on the research activities of the RA.
• To provide an independent unbiased view on securities.
• To offer unbiased recommendation, disclosing the financial interests in recommended securities.
• To provide research recommendation, based on analysis of publicly available information and known observations.
• To conduct audit annually.
• To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.
• To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to the research services has taken place.

C. Details of services provided to investors (No Indicative Timelines)

• Onboarding of Clients
  • Sharing of terms and conditions of research services
  • Completing KYC of fee paying clients
• Disclosure to Clients
• To disclose information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflict of interest, if any
• To disclose the extent of use of Artificial Intelligence tools in providing research services
• To disclose, while distributing a third party research report, any material conflict of interest of such third party research provider or provide web address that directs a recipient to the relevant disclosures
• To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst.
• To distribute research reports and recommendations to the clients without discrimination.
• To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
• To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
• To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines.
• To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services.
• To treat all clients with honesty and integrity.
• To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.

D. Details of grievance redressal mechanism and how to access it

1. Investor can lodge complaint/grievance against Research Analyst in the following ways:

Mode of filing the complaint with research analyst
In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance.

Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)

• SCORES 2.0 (a web based centralized grievance redressal system of SEBI) (https://scores.sebi.gov.in (opens in new tab))
  Two level review for complaint/grievance against Research Analyst:
  First review done by designated body (RAASB – BSE)
  Second review done by SEBI
• Email to designated email ID of RAASB

2. If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/grievance on SMARTODR platform for its resolution through online conciliation or arbitration.

With regard to physical complaints, investors may send their complaints to:
Office of Investor Assistance and Education,
Securities and Exchange Board of India, SEBI Bhavan,
Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex,
Bandra (E), Mumbai – 400 051.

E. Rights of investors

• Right to Privacy and Confidentiality
• Right to Transparent Practices
• Right to fair and Equitable Treatment
• Right to Adequate Information
• Right to Initial and Continuing Disclosure
• Right to receive information about all the statutory and regulatory disclosures
• Right to Fair & True Advertisement
• Right to Awareness about Service Parameters and Turnaround Times
• Right to be informed of the timelines for each service
• Right to be Heard and Satisfactory Grievance Redressal
• Right to have timely redressal
• Right to Exit from Financial product or service in accordance with the terms and conditions agreed with the research analyst
• Right to receive clear guidance and caution notice when dealing in Complex and high-Risk Financial Products and Services
• Additional Rights to vulnerable consumers – Right to get access to services in a suitable manner even if differently abled
• Right to provide feedback on the financial products and services used
• Right against coercive, unfair, and one-sided clauses in financial agreements

F. Expectations from the investors (Responsibilities of investors)

Do’s

1. Always deal with SEBI registered Research Analyst.
2. Ensure that the Research Analyst has a valid registration certificate.
3. Check for SEBI registration number. Please refer to the list of all SEBI registered Research Analysts which is available on SEBI website: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14 (opens in new tab)
4. Always pay attention towards disclosures made in the research reports before investing.
5. Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if research analyst has opted for the mechanism. (Applicable for fee paying clients only)
6. Before buying securities or applying in public offer, check for the research recommendation provided by your research Analyst.
7. Ask all relevant questions and clear your doubts with your Research Analyst before acting on the recommendation.
8. Seek clarifications and guidance on research recommendations from your Research Analyst, especially if it involves complex and high risk financial products and services.
9. Always be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed between you and your Research Analyst.
10. Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.

Don’ts

1. Do not provide funds for investment to the Research Analyst.
2. Don’t fall prey to luring advertisements or market rumours.
3. Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.
4. Do not share login credentials and password of your trading and demat accounts with the Research Analyst.

Complaint Redressal

Escalation Matrix

Deficiency of service may include lack of explanation, clarifications, understanding which escalates into shortfalls in the expected delivery standards, either due to inadequacy of facilities available or through the attitude of staff towards client.

0. Clients can seek clarification to their query and are further entitled to make a complaint in writing, orally or telephonically. An email may be sent to the Client Servicing Team on vinaytaparia@gmail.com.
1. The client can expect a reply within 10 business days of approaching research analyst.
2. In case you are not satisfied with our response you can lodge your grievance with SEBI at https://scores.sebi.gov.in/ (opens in new tab) or you may also write to any of the offices of SEBI. SCORES may be accessed thorough SCORES mobile application as well, same can be downloaded from below link:
   https://play.google.com/store/apps/details?id=com.ionicframework.sebi236330 (opens in new tab)

ODR Portal could be accessed, if unsatisfied with the response. Your attention is drawn to the SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023, on “Online Resolution of Disputes in the Indian Securities Market”. A common Online Dispute Resolution Portal (“ODR Portal”) which harnesses conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market has been established. ODR Portal can be accessed via the following link – https://smartodr.in/ (opens in new tab)

Data for the month ending June 2026

^ Average Resolution time is the sum total of time taken to resolve each complaint in days, in the current month divided by total number of complaints resolved in the current month.

Trend of monthly disposal of complaints

*Inclusive of complaints of previous months resolved in the current month.
#Inclusive of complaints pending as on the last day of the month.

Trend of annual disposal of complaints

* Inclusive of complaints of previous years resolved in the current year.
# Inclusive of complaints pending as on the last day of the year.

As per the Terms & Conditions and Client Agreement of Vinay Kumar Taparia (SEBI Registered Research Analyst):

• 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 year.
• 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 the unexpired period.
• 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 the end of the subscription period.
• Save as otherwise provided above, the fees paid by the client is non-refundable.

Refund requests (where applicable) should be sent to vinaytaparia1981@gmail.com.

By using this website / availing research services, you agree to the following terms and conditions of this website owned by Mr. Vinay Kumar Taparia (SEBI Registered Research Analyst – INH000018276 | BSE Enlistment No. 6369).

• These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA). 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/RAASB from time to time (currently ₹1,51,000/- per annum per family for Individual/HUF clients). The fee limit does not include statutory charges and does not apply to non-individual clients / accredited investors.
• RA may charge fees in advance if agreed by the client. Such advance shall not exceed one year. In case of pre-mature termination, the client shall be entitled to seek refund of proportionate fees for the unexpired period.
• Fees may be paid through cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally through Centralized Fee Collection Mechanism (CeFCoM) of BSE Limited.
• The RA abides by applicable SEBI/RAASB regulations regarding disclosure and mitigation of any actual or potential conflict of interest.
• Any assured/guaranteed/fixed returns schemes are prohibited by law and shall not be offered.
• The RA cannot guarantee returns, profits, accuracy, or risk-free investments. All opinions are based on available data under certain assumptions as of the date of the research report.
• Any investment made based on recommendations is subject to market risks. There is no recourse to claim any losses. Reliance on research reports shall be as per the client’s own judgement.
• SEBI registration, enlistment with RAASB (BSE), and NISM certification do not guarantee performance of the RA or assure any returns.
• The RA shall never ask for the client’s login credentials and OTPs for Trading / Demat / Bank accounts. Never share such information with anyone including the RA.
• Clients are required to keep their contact details (email & mobile) updated with the RA at all times.

Full detailed agreement / MITC will be shared at the time of onboarding and KYC.

Privacy Policy

This Privacy Policy applies to the website vinaytaparia.com and the research services provided by Mr. Vinay Kumar Taparia, SEBI Registered Research Analyst (INH000018276 | BSE Enlistment No. 6369).

1. Information We Collect

• Personal information provided by you during onboarding / KYC (name, address, email, phone number, PAN, demat details if required, and other documents as mandated by SEBI/RAASB).
• Contact information when you communicate with us via email, phone, or website forms.
• Payment-related information (transaction references) when fees are paid through bank transfer, UPI, or CeFCoM. We do not store full card or bank account details.
• Technical data such as IP address, browser type, and usage statistics (if any analytics tools are used).

2. How We Use Your Information

• To provide research services, complete KYC, and communicate recommendations / reports.
• To process fee payments and maintain records as required under SEBI (Research Analyst) Regulations.
• To respond to queries, complaints, and grievance redressal.
• To comply with legal, regulatory, and audit requirements of SEBI, RAASB (BSE), and other authorities.
• To improve our services and website experience.

3. Sharing of Information

We do not sell or rent your personal information. Information may be shared only:

• With SEBI, RAASB (BSE), KYC Registration Agencies (KRA), or other regulators as required by law.
• With service providers (e.g., payment gateways, email service) strictly for the purpose of delivering services, under confidentiality obligations.
• When required by a court order, legal process, or to protect rights and safety.

4. Data Security & Retention

We implement reasonable technical and organisational measures to protect your data against unauthorised access, loss, or misuse. Client records are retained as required under SEBI regulations (generally for a minimum of 5 years or as specified) and thereafter securely deleted or anonymised when no longer needed.

5. Your Rights

You may request access, correction, or update of your personal information by writing to us at vinaytaparia1981@gmail.com. You may also request deletion of data where it is no longer required for regulatory purposes, subject to applicable laws.

6. Cookies

Our website may use essential cookies for functionality. We do not use tracking cookies for advertising purposes. You can control cookies through your browser settings.

7. Changes to this Policy

We may update this Privacy Policy from time to time. The revised version will be posted on this page with the updated date. Continued use of the website or services after changes constitutes acceptance of the updated policy.

8. Contact for Privacy Queries

For any questions or concerns regarding this Privacy Policy or your personal data, please contact:

Vinay Kumar Taparia
Email: vinaytaparia1981@gmail.com
Phone: +91-99992 17597
Address: 1604, Tower 6, Lotus Boulevard, Sector 100, Noida, Uttar Pradesh – 201301

Last updated: July 2026