Refund Policy
This Refund Policy explains refund eligibility, onboarding-related refunds, subscription plan refund structures, processing timelines, dispute resolution procedures, and other important conditions applicable to research-related services offered through this platform.
Important Investor Notice
Refund approval is not automatic and remains subject to onboarding status, service utilization, verification, compliance review, regulatory requirements, and the provisions outlined within this Refund Policy.
1. Introduction
This Refund Policy ("Policy") governs refund requests, refund eligibility, refund calculations, processing timelines, and related matters concerning subscription-based research services offered by Dipak Das, a SEBI Registered Research Analyst ("Research Analyst", "we", "our", or "us").
The purpose of this Policy is to provide transparency regarding the circumstances under which refunds may be considered, approved, partially approved, or declined.
This Policy applies to all subscription plans, research access services, onboarding procedures, compliance verification processes, and related services made available through the website.
Users are advised to carefully review this Refund Policy before subscribing to any research service. By making payment for any subscription plan, the user acknowledges that they have read, understood, and agreed to this Refund Policy.
All refund requests shall be evaluated strictly in accordance with the provisions contained herein.
2. Subscription Plans Covered
This Refund Policy applies to the following subscription plans currently offered through the website:
1 Month
Research Access
3 Month
Research Access
6 Month
Research Access
The Research Analyst reserves the right to introduce, modify, discontinue, or replace subscription plans from time to time.
Unless otherwise specifically stated, any future subscription plans introduced through the website shall also be governed by this Refund Policy.
The duration, features, deliverables, and pricing of subscription plans may vary, but refund eligibility shall remain subject to the terms outlined in this Policy.
3. Regulatory Nature of Services
The services offered through this website consist primarily of research-related, educational, informational, and analytical services provided in the capacity of a SEBI Registered Research Analyst.
Research services are digital services and are not physical products.
Subscription fees paid by users represent consideration for access to research publications, analytical content, market observations, educational materials, onboarding infrastructure, compliance procedures, and related digital services.
Users acknowledge and understand that:
- Research services are subject to regulatory requirements.
- Research access may require completion of onboarding procedures.
- Research access may require identity verification.
- Research access may require suitability assessment and risk profiling.
- Research services are delivered electronically.
- Subscription plans do not represent physical goods.
Payment of subscription fees alone does not automatically create entitlement to research access, activation, or continued availability of services.
Research access remains subject to successful completion of all applicable onboarding, compliance, verification, and regulatory requirements.
4. Onboarding and Activation Requirement
Research access may be granted only after successful completion of applicable onboarding and compliance requirements.
Depending upon the nature of the selected service, onboarding requirements may include:
The Research Analyst reserves the right to request additional information, clarification, supporting documentation, or verification where necessary.
Completion of payment alone does not automatically activate research access.
Activation may be delayed, restricted, suspended, or declined if onboarding requirements remain incomplete or if regulatory concerns arise during the verification process.
Users acknowledge that successful payment does not override regulatory, compliance, suitability, KYC, or verification obligations.
Activation Workflow
Review
Approval
5. Refund Eligibility
Refund requests may be considered under limited circumstances and shall be evaluated on a case-by-case basis.
Refund eligibility may arise under the following situations:
Duplicate Payment
If a user accidentally completes multiple payments for the same subscription plan and period, the duplicate payment may be eligible for refund after verification.
Technical Failure
If payment has been successfully processed but the subscription cannot be activated due to a confirmed technical failure attributable to system malfunction, payment processing error, or operational failure.
Service Not Activated
Where payment has been received but research access has not been activated and onboarding cannot be completed due to circumstances determined by the Research Analyst to justify refund consideration.
Exceptional Circumstances
The Research Analyst may review refund requests arising from exceptional circumstances not specifically addressed within this Policy.
Approval under exceptional circumstances shall remain entirely discretionary and subject to regulatory, operational, and compliance considerations.
Submission of a refund request does not automatically guarantee approval.
All refund requests shall remain subject to review, verification, and investigation before a final decision is made.
Suitability, KYC and Compliance Rejection
In accordance with applicable regulatory requirements, if a user successfully completes payment but is subsequently unable to complete mandatory onboarding requirements, including Risk Profiling, Suitability Assessment, KYC Verification, Identity Verification, Compliance Review or related regulatory checks, research access may be declined or withheld.
Where research access has not been activated due solely to such onboarding or compliance-related reasons, the user shall generally be eligible for a refund of the subscription fee, subject to deduction of any non-recoverable payment gateway charges, banking charges, taxes or statutory levies, where applicable.
Approved refunds under this clause shall normally be processed within seven (7) business days from the date of determination.
6. Cooling-Off Period
Cooling-Off Period: 7 Calendar Days
Refund approval remains subject to review and verification.
As a measure of investor protection and service transparency, users may submit a refund request within seven (7) calendar days from the date of activation of research access.
The existence of a cooling-off period does not guarantee refund approval.
Each request shall be individually reviewed considering:
- Duration of service usage
- Extent of content access
- Compliance status
- Nature of the request
- Applicable regulatory obligations
- Other relevant circumstances
The cooling-off period shall not apply where:
- Fraudulent activity is detected.
- False information has been provided.
- Identity verification concerns arise.
- Unauthorized sharing of research content occurs.
- Terms and Conditions are violated.
- Regulatory restrictions prevent refund approval.
The Research Analyst reserves the right to approve, partially approve, or reject any refund request submitted during the cooling-off period based upon the facts and circumstances of the case.
7. Refund Structure by Plan
Refund eligibility may vary depending upon the subscription plan selected and the stage at which the refund request is submitted.
The Research Analyst reserves the right to determine refund eligibility after considering:
- Activation Status
- Service Usage
- Compliance Status
- Verification Status
- Time Elapsed Since Activation
- Applicable Regulatory Requirements
General Framework:
1 Month Plan
Generally intended for short-duration research access.
Once activation has been completed and access has been granted, refunds may be restricted except where specifically permitted under this Policy.
3 Month Plan
May be eligible for partial refund consideration under applicable circumstances.
Approved refunds may be calculated on a pro-rata basis after deductions permitted under this Policy.
6 Month Plan
May be eligible for partial refund consideration under applicable circumstances.
Approved refunds may be calculated on a pro-rata basis after deductions permitted under this Policy.
The final refund amount shall be determined after evaluating actual service utilization, applicable deductions, compliance considerations, and operational factors.
8. Pro-Rata Refund Calculation Method
Where a refund is approved after activation of research access, the refund amount may be calculated using a pro-rata methodology.
The pro-rata calculation may consider:
Illustrative Formula
The above illustration is provided solely for explanatory purposes.
Actual refund calculations may vary depending upon the circumstances of each case.
The Research Analyst reserves the right to determine the final refund amount after considering all relevant factors.
9. Non-Refundable Charges
Important Notice on Deductions
Even where a refund request is approved, certain charges may remain non-refundable.
Deduction Checklist
- Payment Gateway Charges
- Banking Charges
- Transaction Processing Fees
- Taxes Already Deposited
- Government Levies & Statutory Charges
- Compliance & Verification Costs
- Administrative Charges Where Permitted
The exact deductions shall depend upon the circumstances of the case and applicable legal or operational requirements.
Users acknowledge that approved refunds may therefore be lower than the original amount paid.
The Research Analyst reserves the right to apply deductions that are legally permissible and operationally necessary.
10. Situations Where Refund May Be Refused
Refund requests may be declined where any of the following circumstances exist:
Refund requests are subject to review, verification, compliance checks, and applicable regulatory requirements.
The Research Analyst may also refuse refunds where evidence indicates that services have been materially utilized prior to the refund request.
Refund refusal may additionally occur where applicable laws, regulations, compliance obligations, or regulatory directives prevent approval.
Submission of a refund request does not create an entitlement to refund approval.
11. Service Already Consumed Clause
The investor acknowledges that research services are digital services which may be substantially consumed immediately after activation and access.
Research service consumption may include:
- Access to Research Publications
- Access to Market Commentary
- Access to Analytical Content
- Access to Research Infrastructure
- Access to Educational Materials
- Access to Subscriber Resources
- Access to Digital Research Platforms
Where services have already been substantially consumed, refund eligibility may be reduced, restricted, partially approved, or declined depending upon the circumstances.
The extent of service utilization shall be determined by the Research Analyst based upon available records and operational evidence.
12. Refund Request Procedure
Users seeking refund consideration must submit a formal refund request through officially designated communication channels.
Refund requests should include:
Refund requests may be submitted through: Official Email Address, Official Support Channels, or Other Officially Designated Methods.
The Research Analyst reserves the right to request additional information or supporting documentation before evaluating a refund request.
Incomplete refund requests may result in delays or rejection of review.
Refund Review Process
13. Refund Processing Timeline
Approved refunds shall normally be processed within a reasonable period after completion of review, verification, compliance checks, and final approval.
The actual processing timeline may vary depending upon:
- Banking System Processing Time
- Payment Gateway Processing Time
- Verification Requirements
- Compliance Review Requirements
- Regulatory Considerations
- Public Holidays
- Operational Factors
Approved refunds shall generally be credited through the same payment method originally used for subscription payment unless otherwise required by law, regulation, banking requirements, or operational constraints.
The Research Analyst shall not be responsible for delays caused by: Banks, Payment Processors, Payment Gateways, Regulatory Authorities, or External Service Providers.
14. Chargeback and Payment Dispute Policy
Users are encouraged to first contact the Research Analyst before initiating any payment dispute, chargeback request, or reversal process through a bank, card issuer, payment gateway, or financial institution.
Initiation of an improper or fraudulent chargeback may result in:
- Suspension of Access
- Termination of Services
- Investigation
- Recovery Proceedings
- Compliance Reporting
- Regulatory Escalation Where Required
Internal refund review should be completed before initiating chargeback procedures.
Where a legitimate refund request is submitted, users are encouraged to allow completion of the internal review process before pursuing external payment disputes.
The Research Analyst reserves the right to provide supporting documentation, onboarding records, access records, communication records, verification records, and service utilization records when responding to chargeback investigations.
15. Regulatory Compliance Clause
Regulatory Compliance Framework
The investor acknowledges that all refund decisions remain subject to:
Nothing contained within this Refund Policy shall be interpreted as limiting, overriding, or restricting any obligation imposed by applicable laws, regulations, regulatory directives, or compliance requirements.
Where any provision of this Refund Policy conflicts with applicable law or regulation, the applicable law or regulation shall prevail.
The Research Analyst reserves the right to take all actions necessary to ensure continued compliance with regulatory obligations.
16. Dispute Resolution
Any dispute, disagreement, complaint, grievance, refund-related concern, or service-related issue should initially be raised directly with the Research Analyst through officially published communication channels.
The following escalation framework shall generally apply:
The user should first submit the concern directly to the Research Analyst together with supporting information and documentation.
Reasonable efforts shall be made to review and resolve the matter internally.
If the user remains dissatisfied following internal review, the matter may be escalated through the SEBI Complaints Redress System (SCORES) in accordance with applicable regulatory procedures.
Where applicable, unresolved disputes may subsequently be referred to the SMART Online Dispute Resolution (SMART ODR) platform or any other dispute resolution mechanism prescribed by regulatory authorities.
Investor Guidance
To facilitate efficient resolution, users are encouraged to retain:
17. Policy Updates
The Research Analyst reserves the right to amend, modify, update, replace, or discontinue this Refund Policy at any time to reflect:
- Regulatory Changes
- Operational Requirements
- Technological Changes
- Business Requirements
- Legal Requirements
- Investor Protection Enhancements
Policy Revision Notice
Updated versions of this Refund Policy shall be published on the website together with the revised effective date.
Continued use of the website, onboarding systems, subscriber platforms, research services, or related services after publication of an updated Refund Policy shall constitute acceptance of the revised version.
Users are encouraged to periodically review the Refund Policy for updates.
18. Contact Information
For refund-related questions, requests, concerns, or clarifications, users may contact:
Official Contact Information
Dipak Das
[Insert Official Contact Number]
[Insert Registered Address]
Users should communicate only through officially published communication channels.
The Research Analyst shall not be responsible for communications conducted through unofficial, unauthorized, impersonated, fraudulent, or third-party channels.
Investor Awareness Notice
Investors are encouraged to carefully review all onboarding requirements, research service conditions, regulatory disclosures, fee-related information, refund provisions, and investor protection documents before subscribing to any research-related service.
Refund approval is subject to verification, compliance review, service utilization, regulatory obligations, and the terms contained within this Refund Policy.