Refund Policy

At Kutch Capital Research, we believe in building long-term trust by following fair, transparent, and SEBI-compliant practices. This Refund Policy explains when and how a refund may be granted, the circumstances under which a refund is not possible, and the process for raising such a request. It is framed in line with the Securities and Exchange Board of India (SEBI) Research Analysts Regulations, 2014 and subsequent circulars, including SEBI's guidelines dated February 17, 2025.

Last Updated: September 1, 2025

1. Coverage of This Policy

This policy applies to all paid services offered by Kutch Capital Research, including:

• Research reports and recommendations
• Subscription packages (monthly, quarterly, annual, or custom)
• Access to digital platforms or tools provided by us

This policy does not apply to investment outcomes. Markets are subject to risk, and profits or losses arising from your trades are independent of our refund commitments.

2. When You Can Request a Refund

Clients may request a refund under the following circumstances:

a) Non-Delivery of Services

If a paid service (e.g., research report or subscription access) is not delivered within the promised timeline for reasons attributable to us, the client is entitled to a full refund of that undelivered service.

b) Cooling-Off Period (7 Days)

You may cancel your subscription within 7 working days of payment, provided the service has not been accessed, downloaded, or used. A full refund will be issued in such cases.

c) Ending the Service Early

If either you or we decide to stop the service before the subscription ends, you are eligible for a pro-rata refund for the unused full months. (Example: If you subscribed for 3 months but stopped after 1 month, we will refund the 2 full unused months.) Partial months are not refundable.

d) Technical Problems

If you face repeated technical problems that prevent you from accessing our services, and we cannot resolve them within 7 working days, you may claim a refund for the affected service period.

e) Regulatory Actions

In the unlikely event that Kutch Capital Research's SEBI registration is suspended, cancelled, or services are halted due to regulatory reasons, refunds will be issued on a pro-rata basis for the unutilized period.

f) Double Payment or Overcharging

If a client is billed twice or charged an amount higher than SEBI's prescribed annual cap of ₹1,51,000 per family (individuals/HUF), the excess will be refunded.

g) CeFCoM Payments

If you have paid through SEBI's Centralized Fee Collection Mechanism (CeFCoM) and discontinue the service, refunds will be processed through CeFCoM only.

3. When Refunds Cannot Be Given

Refunds will not be provided in the following cases:

• Market Outcomes: Dissatisfaction with investment performance or trading results, as all investments carry risk. (markets are risky and unpredictable).
• Services Already Used: If you have already downloaded, viewed, or accessed our reports or recommendations.
• Partial Months: No refunds for partly used months. For example, if a 3-month subscription begins on 1st July and is cancelled on 14th August, only the unutilized full month(s) (September onwards) will qualify for a refund.
• Requests After Cooling-Off Period: Refund requests made after 7 working days of payment are not valid (unless covered under other criteria).
• Client Misconduct: If the client breaches terms (e.g., sharing research illegally, submitting false KYC, or fraudulent use).
• Force Majeure Events: No refunds for disruptions caused by events outside our control (natural disasters, pandemics, government restrictions, etc.).
• Non-Refundable Fees: Administrative, onboarding, or other fees designated as non-refundable in the service agreement.
• Third-Party Issues: If disruptions are caused by third-party platforms, we will make best efforts to fix them, but refunds may not apply. In such cases, we may extend the service period at our discretion instead of offering a refund.

4. Refund Process

To request a refund, please follow these steps:

• Review Period: We will review your request within 5 working days and may contact you for additional details.
• Processing: If approved, refunds will be processed within 10 working days (or 30 days for CeFCoM-based refunds) to the original payment method (e.g., bank transfer, UPI). Cash refunds are not permitted.
• Confirmation: You will receive a confirmation email once the refund is processed.

5. Grievance Redressal

We aim for client satisfaction, but if you are unhappy with the refund process or our services, you may escalate the matter as follows:

• Grievance Officer: Joshi Nirav Bharatkumar
• Email: kutchcapitalresearch@gmail.com
• Phone: +919624456457

If your issue remains unresolved, you can escalate it to:

• SEBI SCORES platform: https://scores.sebi.gov.in
• SEBI Helpline: 1800 266 7575 / 1800 22 7575

6. Centralized Fee Collection Mechanism (CeFCoM)

For clients opting for CeFCoM, all fee payments and refunds will be processed through this SEBI-mandated platform. If you discontinue services, refunds for unutilized periods will be handled via CeFCoM, ensuring compliance with regulatory standards. Please contact us for details on opting into CeFCoM.

7. Policy Updates

We may update this Refund Policy periodically in line with SEBI guidelines or internal business needs. The revised version, with the updated "Effective Date," will always be available on our website. Clients are encouraged to check periodically for the latest version.

8. Contact Us

For questions or assistance regarding this refund policy, please reach out to: