This Legal Disclaimer governs the access, use, and subscription to the services offered through www.zanilshah.com and its associated platforms, including WhatsApp groups and messages. By accessing the website or availing of any service, the user confirms that they have read, understood, and agreed to all the disclaimers, warnings, and terms stated below.

1. Regulatory and Compliance Information

• The services are offered by Zanil Shah, registered as a Research Analyst with the Securities and Exchange Board of India (SEBI), under Registration Number INH000013907.

• SEBI registration and NISM certification do not guarantee the performance of the intermediary or ensure returns to investors.

• No promise or guarantee of assured or risk-free returns is made under any circumstance.

• The business charges a fixed fee and does not operate on a profit-sharing or performance-linked model.

• All services are rendered only after successful completion of KYC and Risk Profiling (RPM) procedures:
o If the customer is registered with a SEBI-certified portal, verification is conducted using the PAN card.
o Otherwise, in-person verification is carried out.

• Services are provided only if the client's risk profile matches the risk level of the advisory product. Otherwise, no service is rendered and the subscription fee is refunded.

2. Nature and Scope of Services

• The services offered consist of research-based trading views and educational insights, based on technical and fundamental analysis.

• The service does not involve execution of trades, portfolio handling, or accepting trade orders on behalf of clients.

• All recommendations are communicated only in written form via WhatsApp.
o No verbal communication, whether from the analyst or representatives, shall be considered advice.

• The website displays current services and upcoming services, but features may change due to business or regulatory needs.
o Launches may be postponed, altered, or withdrawn at the sole discretion of the firm.

• The firm does not authorize any third-party to represent or offer stock recommendations on its behalf.

• While some recommendations may overlap across multiple advisory products, each one is curated considering specific investment strategies, allocation sizes, holding periods, and individual client risk profiles.

3. Market Risk and Investment Caution

• Investments in the securities market are subject to market risks, including the risk of loss of capital.

• Clients are expected to understand and accept that:
o Stock market investments are inherently risky.
o They may incur partial or total capital loss.
o Profits and losses are part of the market experience.

• No historical performance should be seen as an indicator of future success.

• Standard Market Warning: “Investments in securities market are subject to market risks. Read all the related documents carefully before investing.”

• Clients are strongly advised to:
o Assess their risk-bearing capacity.
o Understand their financial position.
o Make independent decisions, based on personal discretion.

4. Performance and Accuracy Disclaimer

• While due care is taken to provide accurate research and analysis, the firm does not guarantee the consistency, adequacy, or completeness of any information.

• Directional views or predictions may go wrong, and the firm shall not be liable for any resulting consequences.

• Hypothetical or simulated performance results have inherent limitations and do not represent actual results.

• Clients must do their own due diligence before acting on any suggestions.

5. Platform Limitations and Delivery

• Services may be affected by technical failures, internet disruptions, or system downtime.

• SMS and messenger delays/failures may occur, and the firm is not liable for any loss caused due to such issues.

• Website content, terms, and features are subject to change, and users are advised to stay updated regularly.

• Accessing or reading any information on the site or related platforms is considered acceptance of this disclaimer.

6. Liability and User Responsibility

• The firm, its owners, and representatives shall not be held responsible for any financial loss (direct or indirect) arising out of the use of its services.

• Administrators and group moderators are not responsible for user decisions or trading outcomes.

• Any opinion shared on a client’s personal position shall not be treated as advice, but merely a suggestion/view.

• Clients are advised to treat all content and communication as an opinion, not as a guarantee or assurance.

• The final decision to act on any recommendation lies solely with the client.

7. Distribution, Redistribution, and Third-Party Restrictions

• All research, recommendations, and messages are meant solely for the registered client’s use.

• Any unauthorized forwarding, copying, or redistribution is strictly prohibited.
o The firm assumes no responsibility or liability for losses incurred from such acts.

• The firm does not recommend, endorse, or associate with any stock broker or intermediary.
o No compensation is received from any stockbroker.
o All representatives strictly comply with the SEBI Research Analyst Regulations, 2014, and do not engage in any personal trade activity.

8. Jurisdiction and Applicability

• The services offered are intended solely for Indian residents.
o Although accessible from other regions, the firm shall not be liable under laws outside India.

• Any disputes are subject to the exclusive jurisdiction of the courts of Mumbai, India.

9. Acceptance and Acknowledgement

• By accessing this website or subscribing to services, users acknowledge that they:
o Have read and understood this disclaimer.
o Agree to be bound by all terms and conditions mentioned herein.
o Accept full responsibility for their investment decisions.