These Terms and Conditions (“Terms”) govern your access and usage of
https://h2investmentmanagers.in (“Website”) and the services as provided to the User (as defined below) by HITESH TULSIBHAI CHAUHAN PROPRIETOR OF H2 INVESTMENT MANAGERS (“hereinafter referred to as Research Analyst or RA”, “We,” “Our,” or “Us”) including content, updates and new releases.
We are a registered Research Analyst bearing registration number INH000007030 registered with the Securities and Exchange Board of India (“SEBI”) under the SEBI (Research Analyst) Regulations, 2014.
1. Definitions
For the purpose of these Terms, the following words and phrases shall have the meaning assigned to them under this Article.
1.1 “Business Days” means any day in which banks are open for business in Jamnagar, Gujarat, India.
1.2 “Service(s)” means the services provided by RA which include provision of research content, research data, model portfolios of Indian listed securities, and research reports with respect to the Indian securities market for which users are paying research or subscription fee to RA.
1.3 “User” (“You,” “Your,” or “Client”) shall mean any person who transacts or avails of the paid Services after agreeing to the Terms defined here. The term User shall also include any person who is authorized to avail of the Services on behalf of the user with full rights or limited rights login. The individual or entity subscribing to or availing research services must meet the eligibility requirements set forth herein and under Indian law.
1.4 “Digital Platform” includes websites, mobile or web applications, or other technology platforms (including third-party service providers) used for delivering the Services.
1.5 “KYC” means Know Your Customer—verification process mandated by SEBI (and other applicable laws) to establish the identity of Clients.
2. Eligibility
Use of the Services shall be available only to persons who can enter into legally binding contracts under the Indian Contract Act, 1872, where applicable. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. shall not be eligible to use the Services.
2.1 The User represents and warrants that he/she is at least 18 years old and all information submitted is true, accurate and complete while registering the account on the Service. If the User is a minor i.e. under the age of 18 years, they shall not register as a User of the Services and shall not transact on it.
2.2 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.
3. Registration
In order to avail the Services, User must be registered with RA.
3.1 By registering with RA, User agrees to provide true, accurate, current and complete information as required by RA. Failing which, RA may at any time reject User’s registration and terminate his right to use or access the Website and/or Services.
3.2 To access Our paid Services, Clients shall complete the registration form, provide all mandatory details, and accept these T&C. RA reserves the right to reject or cancel registration if any of the information provided by You is incorrect or if the Client is ineligible to avail the Services under applicable law.
3.3 Based on the Services availed and the plan selected, applicable fees shall be charged. RA reserves the right to change the fee policy applicable to such paid registration. Changes to the fee policy will be posted on the application and/or Website and shall become effective immediately after posting, and shall also be sent to the User’s registered email ID.
3.4 Security of Credentials You agree and acknowledge that You shall keep Your login information (including but not limited to username and password) confidential. You shall be liable for any unauthorized use of Your account resulting from negligence or sharing of credentials. You shall notify Us immediately if You suspect any breach of Your account security.
4. Access
RA will endeavour to ensure that access to and availability of the Services remains uninterrupted and error free. However, access to the applications from where users might consume the Services may occasionally be suspended or restricted to allow for repairs, maintenance, or introduction of new facilities and Services. In such cases, RA shall not be liable for any disruption of Services.
5. Provision of the Services
5.1 RA only provides Services in relation to securities in the Indian securities market. RA shall not be liable for the User acting on any advice set out as part of its Services, other than as expressly provided in any deliverable. RA does not engage in services such as profit sharing or representation that its Services guarantee a minimum return. Investments in securities markets are subject to risks and each User shall assess their own risk appetite and profile prior to relying on the Services for making investment decisions. Execution of trades, investment decisions and/or buy-sell orders are not included within the ambit of the Services.
5.2 Research-Only / No Execution You agree and acknowledge that RA provides research and analysis only. We do not execute trades on behalf of Clients, hold Clients’ funds, or provide any assured returns.
5.3 Model Portfolios Where offered, model portfolios are recommendations for basket(s) of securities with weightages. Such recommendations are for informational purposes only and do not guarantee performance or returns. RA shall ensure compliance with SEBI’s model portfolio guidelines as outlined in Annexure-A of the Circular.
5.4 Use of Artificial Intelligence (AI) In the event AI tools are used (in whole or part) to generate or support research outputs, RA shall remain solely responsible for the quality, accuracy, security, and confidentiality of data. The extent of AI usage shall be disclosed to the Client when providing Services or whenever material changes occur. Open-source tools such as Gemini, ChatGPT, etc. may be used for gathering information/data for research report preparation.
6. Investment Disclosures
6.1 The Services provided by RA shall not be construed as a recommendation and/or solicitation of an investment nor as a recommendation of an investment strategy. Investment decisions shall be made by the User based on their own risk appetite and tolerance levels. Past returns are not indicative of guaranteed future returns and the Services remain subject to market risk.
6.2 Information provided on the Website, including index values, return numbers and rationale, are for informational and illustration purposes only and shall not be relied upon in any form or manner. Graphical representations including charts and performance numbers that include back-tested/simulated results are calculated via standard methodology and do not include transaction fees and related costs.
Data used in methodologies for such calculations are obtained from third-party providers and are not authenticated, validated, or audited by RA. RA shall not be liable for deficiencies with respect to such data or Services provided based on the same.
7. Security
7.1 Subject to the provisions stated herein, the User shall not hold RA liable in case of any improper, fraudulent, unauthorized, duplicate, or erroneous use of mobile and/or web-based access. RA shall not be liable for consequences connected with use/misuse of User’s mobile/email account by any third party. If third parties gain access to the Services, the User shall be responsible and indemnify RA against liability, costs or damages arising out of such misuse.
The User shall be fully and solely liable for: (a) any unauthorized use of mobile/email account; and (b) all authorized transactions on mobile/email account.
8. Use the Services at Your Own Risk
8.1 RA reserves the right to refuse any Service to anyone at any time. The User understands that content and data may be transferred unencrypted and involve transmissions over various networks and changes to conform to technical requirements of connecting networks or devices.
8.2 The User agrees not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Services, use of the Services, or access to the Services without express written permission of RA. Unauthorized use constitutes grounds for termination and may lead to legal action.
9. Trademarks
9.1 RA name, logo, names of individual Services and their logos are trademarks of HITESH TULSIBHAI CHAUHAN PROPRIETOR OF H2 INVESTMENT MANAGERS. The User agrees not to display or use RA trademarks without prior permission.
10. Disclaimer of Warranties
The User expressly understands and agrees that use of the Services is at their sole risk. Services are provided on an “as-is” and “as-available” basis. RA disclaims all warranties, express or implied, including implied warranties of merchantability and fitness for a particular purpose. RA does not warrant uninterrupted, timely, secure, or error-free Services. Users are solely responsible for damage resulting from use of Services or downloaded material. No advice or information obtained from RA shall create any warranty not expressly stated in these Terms.
11. Arbitration
Any controversy or claim arising out of or relating to these Terms shall be settled by binding arbitration in accordance with the Arbitration and Conciliation Act, 1996, as amended from time to time. The seat of arbitration shall be Jamnagar, Gujarat, India.
12. Suspension and Termination
12.1 If the User breaches these Terms or if any user/third party reports violation of rights due to the User’s use of the Services, RA reserves the right to suspend or terminate access with or without notice and exercise remedies available under law. RA may indefinitely suspend or block access to the User’s account and refuse access to the application and/or Website.
12.2 Suspension or termination may occur if the User engages in or is suspected of engaging in illegal, fraudulent, or abusive activity; or provides information that is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms.
13. Indemnity
13.1 The User shall keep RA indemnified from and against any and all liability (including but not limited to liabilities, judgments, damages, losses, claims, costs and expenses) or any other loss that may occur, arising from or relating to any claim, suit or proceeding brought against RA by another User/third party for reasons including but not limited to: (i) a breach, non-performance, non-compliance or inadequate performance by the User of any of the terms, conditions, representations, obligations or warranties made by him; (ii) any acts, errors, misrepresentations, wilful misconduct or negligence of the User, or his employees, subcontractors and agents in performance of their obligations under these Terms.
13.2 You agree to indemnify and hold harmless RA, its officers, employees, and affiliates from any and all claims, damages, losses, or liabilities arising out of: (a) your breach of this T&C or violation of law; (b) unauthorized or improper use of your account; (c) third-party claims related to your actions or inactions.
14. Disclosure
RA may access, preserve and disclose any of User’s information if required by law, or if believed in good faith to be reasonably necessary to: (i) respond to claims asserted against RA or comply with legal process; (ii) prevent fraud, conduct risk assessment, investigation, User support, product development and debugging; or (iii) protect the rights, property or safety of RA, its Users or members of the public.
15. Limitation of Liability
The User acknowledges and agrees that, to the maximum extent permitted by law, the entire risk arising out of access and use of the Website and Services remains with the User. RA shall not be liable for any incidental, special, exemplary or consequential damages, including but not limited to lost profits, loss of data, loss of goodwill, service interruption, loss of monies, computer damage, system failure, or cost of substitute services, whether based on warranty, contract, tort (including negligence), product liability or otherwise, even if RA has been informed of the possibility of such damages.
16. Fees & Payment
16.1 Maximum Fee for Individual/HUF Clients As per Regulation 15A of the RA Regulations and the Circular, fees up to INR 1,51,000 (Rupees One Lakh Fifty-One Thousand) per annum may be charged for individual and HUF clients, excluding statutory taxes and charges. Fees may be revised in line with the Cost Inflation Index or as specified by SEBI and/or Research Analyst Administration and Supervisory Body (RAASB). Users on auto-renewal shall remain at the original fee.
16.2 Fees for Non-Individual or Accredited Investors For corporates, institutions or accredited investors, fees may be negotiated bilaterally, subject to fairness and reasonableness.
Billing & Mode of Payment Fees may be charged quarterly in advance or as mutually agreed, subject to SEBI’s one-quarter advance limit. Final fee structure shall be established post consultation paper published by SEBI. Optional Centralized Fee Collection Mechanism (CeFCoM) may be offered if made available by SEBI.
16.3 Refund Policy Fees are non-refundable (unless registration is suspended or cancelled by SEBI). If incorrect KYC data is provided, Services will not be rendered and no refund shall be provided. Partial-month subscriptions are generally non-refundable unless at RA’s discretion or required by SEBI. If SEBI registration is suspended for more than 60 days or cancelled, unutilized fees shall be refunded from the effective date onward.
16.4 Renewal Price The fee mentioned under Annexure A (with plan details and RA details) is the maximum renewal price. RA may enhance or reduce renewal fees at its discretion (subject to applicable clauses).
17. Mandatory Terms & Conditions (As Per Circular Annexure-B)
17.1 These minimum mandatory provisions form an integral part of the agreement.
17.2 Availing the Services By subscribing to the Services, You acknowledge that You do so at Your sole discretion and in accordance with SEBI (Research Analysts) Regulations, 2014 and other applicable laws.
17.3 Obligations on RA Both RA and Client shall be bound by the SEBI Act, SEBI (RA) Regulations and all related rules/circulars in force from time to time.
17.4 Client Information & KYC You shall furnish required KYC details as mandated by SEBI/RAASB. RA shall collect, store, verify and update KYC records as per SEBI norms.
17.5 Standard Terms of Service By consenting to these T&C, You acknowledge reading and understanding applicable RA regulations including fee structure. Investments based on research reports are subject to market risk, do not assure returns, and no recourse exists for losses incurred based on recommendations.
RA confirms that: (a) it is duly registered with SEBI (Registration No: INH000007030; BSE Membership ID: 5338); (b) holds valid qualifications and registration; (c) Services do not violate any law or contract; and (d) is not engaged in activities interfering with independence of research.
17.6 Consideration & Mode of Payment Fees plus statutory charges shall be paid via permissible methods. Services shall not be rendered until consent and initial payment are received.
17.7 Risk Factors & Conflict of Interest Investments are subject to market risk including volatility and loss of principal. No guaranteed returns. Conflicts of interest, if any, shall be disclosed and mitigated as mandated by SEBI.
17.8 Termination, Grievance Redressal & Dispute Resolution If registration is suspended/cancelled by SEBI, unexpired subscription fees shall be refunded. Grievances may be emailed to the designated Grievance Officer within 7 business days. Resolution shall be provided within 7 working days or as specified by SEBI. Unresolved complaints may be escalated to SEBI via SCORES or arbitration.
17.9 Mandatory Notice Clients shall refer to SEBI’s Do’s and Don’ts while dealing with Services as specified in applicable SEBI Master Circulars.
Most Important Terms & Conditions (MITC) MITC document may be accessed via the official link provided separately. MITC clarifies that RA cannot execute trades on behalf of Clients.
18. Miscellaneous Terms
RA may change or institute new fees if required by law, with prior intimation posted on Website/application and sent via email. These T&C govern use of Services including Digital Platforms and technology solutions.
In case of conflict between these T&C and SEBI regulations, SEBI regulations shall prevail.
Privacy of Client Data Personal data shall not be shared except as required by law or regulatory obligation. Aggregated/anonymized data may be used for research/compliance.
Security of Client Data While reasonable safeguards are maintained, complete internet security cannot be guaranteed.
RA may modify features, discontinue Services, implement software updates, or terminate agreement due to violation, SEBI direction, or non-payment of fees.
The User may receive communications including announcements, advertisements, or administrative communications via WhatsApp channel or email.
RA may update these T&C in accordance with SEBI regulations. Continued use of Services constitutes acceptance of updated T&C.
All information provided by the User to RA shall be accurate, current and complete. The User shall be solely responsible for the accuracy and correctness of all information provided. RA shall not be liable for any loss or costs incurred by any party due to any incorrect or mistaken information provided by the User.
Nothing in these T&C shall be deemed to constitute a partnership, agency, or joint venture between RA and the Client.
Any link on the Website to a third-party site shall not be construed as an endorsement of that website. The use or browsing of any third-party website shall be subject to the terms and conditions applicable to such website.
RA shall not be liable for any unauthorized access to the User’s data or any unauthorized transmissions sent through the Services.
The User shall not (whether online or otherwise): describe itself as an agent or representative of RA; make any representations to any User or third party; or give any warranties which may require RA to undertake or be liable for, whether directly or indirectly, any obligation and/or responsibility to a User or third party.
RA shall not be liable for any breach of these general Terms due to any force majeure event including but not limited to acts of God, fire, lightning, explosion, flood, inclement weather conditions, power failures, epidemic, pandemic, failure in communication systems, equipment breakdown, strikes, lock-out, or any other cause beyond the control of RA.
Privacy Policy
We respect your privacy and make every effort to protect it. You need not share personal information to access the site. However, you may provide your name and email ID if you wish to contact us.
We will not display your email ID on the site or share your personal information with a third party unless required to do so by a law enforcement agency.
We may use your email ID to contact you and send information about us.
As we cannot exercise control over the actions of those who visit our site, we advise you to be cautious about the information you share online.