Most Important Terms and Conditions (MITC)

[Forming part of the Investment Advisory Agreement]

1. The Investment Adviser (IA) shall only accept payments towards its fees for Investment Advisory Services and is not permitted to accept funds or securities in its account on the Client’s behalf.
2. The IA does not guarantee returns, accuracy, or risk-free investments. All advice is subject to market risks, and there is no assurance of any returns or profits.
3. Any assured/guaranteed/fixed return 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 IA.
4. Investment advice only related to securities shall fall under the purview of SEBI. In case of any services offered by IA related to products/services not under the purview of SEBI, IA shall make disclosure to the client and take appropriate declaration and undertaking from the client that such products/services and the services of IA in respect of such products/services do not come under regulatory purview of SEBI and that no recourse is available to the client with SEBI for grievances related to such products/services or services of IA in respect of such products/services.
5. This agreement is for the investment advisory services provided by the IA and IA cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client without his/her/its specific and positive consent on every trade. Thus, the client is advised not to permit IA to execute any trade on his/her/its behalf without explicit consent.
6. The fee charged by IA to the client will be subject to the maximum amount prescribed by SEBI / Investment Adviser Administration and Supervisory Body (IAASB) from time to time (applicable only for Individual and HUF Clients).
   1. The current fee limit under Fixed Fee mode is Rs 1,51,000/- per annum per family of client. Under Assets under Advice (AUA) mode, maximum fee limit is 2.5 per cent of AUA per annum per family of client.
   2. The IA may change the fee mode at any time with the client’s consent; however, the maximum fee limit in such cases shall be higher of fee limit under the fixed fee mode or 2.5 per cent of AUA per annum per family of client.
   3. The fee limits do not include statutory charges.
   4. The fee limits apply only for investment advice related to securities under purview of SEBI.
   5. The fee limits do not apply to a non-individual client / accredited investor.
7. IA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is maximum one year. In case of premature termination of the IA services by the client or the IA, the client shall be entitled to seek refund of proportionate fees only for unexpired period. However, IA is entitled to retain a maximum breakage fee of not greater than one-quarter fee.
8. Fees to IA 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 IAASB).
9. The IA is expected to know the client’s financial details for providing services. Hence, the client is required to share the financial information (e.g. income, existing investments, liabilities, etc.) with the IA.
10. The IA is required to carry out the client’s risk profiling and suitability analysis before providing services and thereafter on an ongoing basis. The services provided will be in line with the assessed risk profile. IA shall also communicate the assessed risk profile to the client.
11. As part of conflict of interest management, the client or the client’s family members will not be provided any distribution services by IA or any of its group entity / family members. IA shall, wherever available, advise direct plans (non-commission based) of products only.
    
    The IA shall endeavour to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
12. For any grievances:
    
    Step 1: The client should first contact the IA using the details below:
    
    Name: Rajesh Sudhakar Prabhudesai, Investment Adviser
    Email: compliance@ia.rajeshprabhudesai.com
    Contact: +91 8850623170 (Working Hours – Mon-Sat | 10:00 AM to 7:00 PM)
    Address: A2 Ashirvad Sitaram Keer Marg Mahim, Mumbai, Maharashtra, 400016
    
    While lodging the complaint, the client is advised to mention their full name, contact details, PAN and nature and details of the complaint, accompanied by supporting documents, if any.
    
    Step 2: If no response is received from the IA within 21 calendar days from the date on which the complaint had been lodged, or if the resolution provided by IA is unsatisfactory, the client may lodge grievances through SEBI’s SCORES platform.
    
    Filing complaints on SCORES platform is easy and quick:
    1. Register on SCORES portal scores.sebi.gov.in
    2. Mandatory details for filing complaints on SCORES are Name, PAN, Address, Mobile Number, Email ID.
    3. For any queries, feedback or assistance, please contact SEBI Office on Toll Free Helpline at 1800 22 7575 / 1800 266 7575.
    4. Benefits include effective communication and speedy redressal of the grievances.
    
    Step 3: If the client remains dissatisfied with the outcome of the SCORES complaint, the client may consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in for resolution.
13. The SEBI registration, enlistment with IAASB, and NISM certification do not guarantee the performance of IA or assure returns to the client.
14. Clients are required to keep contact details, including email ID and mobile numbers, updated with the IA at all times.
15. The IA 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 IA.