Terms & conditions (MITC)

These terms apply to research services provided by Rajendra Prasad Mikkilineni, Proprietor of KLM Investing School, SEBI Registered Research Analyst INH200009218, BSE Enlistment No. 5526 ("the RA"). Clients are asked to read them and give consent before subscribing.

Most Important Terms and Conditions (MITC)

1. These terms and conditions, and consent thereon, are for the research services provided by the RA, and the RA cannot execute or carry out any trade (purchase or sale transaction) on behalf of the client. The client is therefore advised not to permit the RA to execute any trade on their behalf.
2. The fee charged by the RA to the client will be subject to the maximum amount prescribed by SEBI/RAASB from time to time (applicable only to individual and HUF clients).
   • The current fee limit is ₹1,51,000 per annum per family of client for all research services of the RA.
   • The fee limit does not include statutory charges.
   • The fee limits do not apply to a non-individual client or an accredited investor.
3. The 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 premature termination of the RA services by either the client or the RA, the client shall be entitled to seek a refund of proportionate fees only for the unexpired period.
4. Fees to the RA may be paid by the client through any of the specified modes, such as cheque, online bank transfer or UPI. Cash payment is not allowed. Optionally, the client can make payments through the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited, the currently recognised RAASB.
5. The RA is required to abide by the applicable regulations, circulars and directions specified by SEBI and RAASB from time to time on the disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavour to promptly inform the client of any conflict of interest that may affect the services being rendered.
6. Any assured, guaranteed or fixed-return schemes, or any other schemes of a similar nature, are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
7. The RA cannot guarantee returns, profits, accuracy or risk-free investments from the use of the RA's research services. All opinions, projections and estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation or publication of the research report.
8. Any investment made based on recommendations in research reports is subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on investments made based on the recommendations in a research report. Any reliance placed on a research report provided by the RA shall be as per the client's own judgement and assessment of the conclusions contained in it.
9. The SEBI registration, enlistment with RAASB and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
10. For any grievance:
    • Step 1: Contact the RA first, using the details in the grievance redressal section (rpmikkilineni@gmail.com, +91 92468 22686).
    • Step 2: If the resolution is unsatisfactory, lodge the grievance on SEBI's SCORES platform at scores.sebi.gov.in.
    • Step 3: The client may also consider Online Dispute Resolution through the SMART ODR portal at smartodr.in.
11. Clients are required to keep their contact details, including email ID and mobile number, updated with the RA at all times.
12. The RA shall never ask for the client's login credentials or OTPs for the client's trading account, demat account or bank account. Never share such information with anyone, including the RA.

Client declaration

"I/We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure. I/We are subscribing to the research services for my/our own benefit and consumption, and any reliance placed on the research report provided by the research analyst shall be as per my/our own judgement and assessment of the conclusions contained in the research report."

Other terms

• Services: research reports and recommendations as described for the plan you subscribe to. No paid services are currently offered; see Services & fees.
• KYC: fee-paying clients must complete KYC before services begin.
• Confidentiality and data: your information is handled as set out in our privacy policy.
• Records: as required by SEBI, records of interactions with clients and prospective clients about research services are maintained.
• Use of AI tools: where AI tools are used in providing research services, the extent of their use is disclosed to clients. The RA remains fully responsible for all research.