TERMS AND CONDITIONS OF USE

TM Investment Technologies Private Limited – Teji Mandi
Research Analyst Services

These Terms and Conditions of Use (“Terms”) constitute an electronic record in the form of an electronic contract under the Information Technology Act, 2000 and the rules made thereunder, as amended from time to time. These Terms do not require any physical, electronic or digital signature.

The purpose of this mobile application named Teji Mandi (“App”), owned and operated by TM Investment Technologies Private Limited (“TMITPL”, “Teji Mandi”, “we”, “us” or “our”), is to provide Research Analyst Services as more particularly described herein and on the App.

Please read these Terms carefully before using or accessing the App or the Services. By installing, accessing, browsing, registering for, subscribing to or using the App or Services, you (“Subscriber”, “User”, “Client”, “you” or “your”) agree to be bound by these Terms and the other applicable policies and disclosures made available on the App.

1.DND / Communication Consent

By applying for or subscribing to products or services through our website or App, you may receive service-related communications from us and our authorised service providers through calls, SMS, email, WhatsApp or other permitted communication channels in accordance with applicable laws and regulatory requirements.

Any promotional or marketing communication shall be undertaken in accordance with applicable laws, regulations and consent requirements.

2.Eligibility

You represent and warrant that:

  1. You are at least 18 years of age and legally competent to enter into a binding contract under applicable laws;
  2. all information provided by you is true, complete and accurate;
  3. you shall promptly update any material change in the information provided by you; and
  4. you shall comply with all applicable laws and regulatory requirements while accessing or using the App and Services.


Teji Mandi reserves the right to suspend or terminate access to the Services where information provided by the User is found to be false, inaccurate, incomplete or misleading or where required under applicable law or regulatory requirements.

3.Acceptance of Terms

By accessing, registering for, subscribing to or using the App or Services, you agree to these Terms and the applicable policies and disclosures made available on the App, including:

  • Most Important Terms and Conditions (MITC);
  • Privacy Policy;
  • Risk Disclosure;
  • Research Disclaimer;
  • Refund & Cancellation Policy;
  • Grievance Redressal Mechanism; and
  • other applicable regulatory disclosures.

The Terms and applicable policies may be amended from time to time to reflect changes in applicable laws, regulations, regulatory requirements or the Company’s policies. The updated version shall be made available on the App/Platform and shall be effective from the date specified therein.

4.Registration and Account

  1. Registration may be required to access certain features or Services available through the App.
  2. You shall provide complete and accurate information as required during registration and onboarding.
  3. We reserve the right to request additional information or documents for regulatory, compliance, KYC, AML or other legitimate purposes.
  4. You shall not create an Account through unauthorised means, including through automated devices, scripts, bots, spiders, crawlers or scrapers.
  5. After registration, you shall be responsible for maintaining the confidentiality and security of your Account credentials and shall immediately notify us of any unauthorised access or suspected compromise of your Account.

5.Responsibility and Access to Account

  1. You shall not provide access to your Account or login credentials to any third party.
  2. You shall be responsible for activities undertaken through your Account, subject to applicable law.
  3. You shall not solicit, collect or use login credentials of any other user.
  4. You shall not use the App or Services for any unlawful purpose or in violation of these Terms or applicable laws.

6. Regulatory Compliance – KYC / AML

  1. TMITPL shall comply with applicable laws, regulations, SEBI requirements and the Prevention of Money Laundering Act, 2002 (“PMLA”) and rules made thereunder, as applicable to its Research Analyst activities.
  2. TMITPL may undertake customer identification, KYC verification, due diligence and ongoing monitoring as required under applicable regulatory requirements.
  3. Where applicable, enhanced due diligence may be undertaken in respect of clients requiring enhanced scrutiny, including Politically Exposed Persons (PEPs), their family members or close associates, in accordance with applicable laws and the Company’s internal policies.
  4. The User agrees to provide complete, accurate and updated information and documents as may be required for KYC, AML, regulatory compliance and ongoing due diligence.
  5. TMITPL may reject registration, suspend or terminate an Account or restrict access to Services where required information or verification is not satisfactorily completed or where any regulatory or compliance concern arises.
  6. Completion and verification of mandatory KYC is required before activation of the Research Analyst Services. Until successful completion of KYC and other applicable onboarding requirements, the subscription shall remain inactive and the User shall not be entitled to access paid Research Analyst Services. If the User fails to complete the mandatory KYC requirements within 7 (seven) calendar days from the date of payment, the subscription may be cancelled in accordance with the Company’s Refund & Cancellation Policy. Any refund, wherever applicable, shall be processed strictly in accordance with the Refund & Cancellation Policy.

7. User Responsibility and Risk Assessment

  1. TMITPL provides Research Analyst Services, including research reports, recommendations and model portfolios, for research and informational purposes.
  2. The User acknowledges that investment decisions involve market risk and that the User is responsible for evaluating investments based on their own financial circumstances, investment objectives, investment horizon and risk appetite.
  3. TMITPL does not undertake any obligation to assess the suitability of any security, recommendation, model portfolio or Research Analyst Service for the User unless specifically required under applicable regulatory requirements.
  4. The selection and use of any Research Analyst Service shall remain the User’s responsibility.

8.Investment Disclaimer

  1. TMITPL is registered with SEBI as a Research Analyst under Registration No. INH000009445 and is enlisted with BSE under Enlistment No. 5545.
  2.  All investments in securities are subject to market risks.
  3. TMITPL does not guarantee or assure any return, profit or capital protection.
  4. Past performance of any security, investment strategy, recommendation or model portfolio is not indicative of future performance.
  5. Information provided through the App or Services is for research and informational purposes and should not be construed as a guarantee of any outcome.
  6. The User shall remain responsible for all investment decisions taken based on the Research Analyst Services.
  7. Registration granted by SEBI, enlistment of the Research Analyst with BSE and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

9. Conflict of Interest

  1. TMITPL shall make disclosures regarding material conflicts of interest as required under applicable SEBI regulations and other applicable requirements.
  2. TMITPL and/or its associates may have interests or positions in securities referred to in research reports, wherever applicable, subject to the disclosures and restrictions prescribed under applicable regulations.

10.Grievance Redressal Mechanism

  1. Any grievance or complaint relating to the Research Analyst Services may be raised through the grievance channels provided on the Teji Mandi Platform.
  2. TMITPL shall endeavour to resolve complaints within the timelines prescribed under applicable laws and regulatory requirements.
  3. If the User is not satisfied with the resolution or does not receive a satisfactory response, the User may escalate the grievance through the SEBI SCORES platform, as applicable.
  4. Subject to the applicable grievance redressal framework, the User may also avail the Online Dispute Resolution (ODR) mechanism for resolution of disputes in the Indian securities market through the designated ODR portal.

11. Content and Intellectual Property Rights

  1. For the purposes of these Terms, “Content” includes information, data, text, photographs, audio, video, written posts, research reports, recommendations, scripts, software, graphics, interactive features and other material made available through the App or Services.
  2. All intellectual property rights relating to the App, Services, research reports, recommendations, model portfolios, market insights, educational content, trademarks, logos, designs, software, text, graphics and other proprietary material shall remain the property of TMITPL or its respective licensors.
  3. The User shall not, without prior written permission from TMITPL:
    • copy, reproduce, modify, distribute or publish any research report or proprietary content;
    • commercially exploit any content available on the App;
    • create derivative works based on the Research Analyst Services;
    • remove or modify copyright, trademark or proprietary notices; or
    • reproduce or distribute Research Analyst Services for any commercial or unauthorised purpose.
  4. No intellectual property rights are transferred to the User under these Terms.
  5. The User shall not reverse engineer, decompile, disassemble or otherwise attempt to obtain the source code of the App or circumvent any security or access-control mechanism.
  6. TMITPL reserves the right to investigate and take appropriate action in respect of any unauthorised use, infringement or violation of its intellectual property rights.

12.General Conditions and Rules of Conduct

  1. You shall use the App and Services only for lawful and authorised purposes.
  2. You shall not interfere with or disrupt the App, Services, servers or networks connected with the Services.
  3. You shall not transmit or introduce viruses, malware, spyware, worms or other harmful code.
  4. You shall not attempt to gain unauthorised access to any system, account, data or Content.
  5. You shall not misuse the App or Services or undertake any activity that may adversely affect the security, availability or functioning of the App or Services.
  6. TMITPL may suspend or restrict access to the App or Services where required by law, regulation, regulatory authority or where a violation of these Terms is identified.

13.Subscription and Fees

  1. Access to the Research Analyst Services shall be activated only after successful completion of applicable onboarding requirements, mandatory KYC verification, acceptance of the Most Important Terms and Conditions (MITC), wherever applicable, and successful payment of the applicable subscription fee.
  2. The subscription is personal to the Client and is non-transferable.
  3. The subscription shall remain valid only for the period selected and purchased by the Client.
  4. The applicable subscription fee, validity, scope of Services and other material subscription details shall be displayed to the Client on the Platform before payment.
  5. The Client shall confirm and accept the applicable subscription fee and relevant terms before completing the payment.
  6. Fees shall be charged in accordance with the Company’s applicable fee policy and the terms communicated to the Client.

14.Refund and Cancellation

  1. Refunds and cancellation of Research Analyst subscriptions shall be governed by the Refund & Cancellation Policy published on the Teji Mandi Platform and updated from time to time.
  2. Research Analyst Services shall be activated only after successful completion of mandatory KYC verification and acceptance of the Most Important Terms and Conditions (MITC), wherever applicable.
  3. If the Client fails to complete the mandatory KYC requirements within 7 (seven) calendar days from the date of payment, the subscription may be cancelled in accordance with the Company’s Refund & Cancellation Policy.
  4. Any refund, wherever applicable, shall be processed strictly in accordance with the Refund & Cancellation Policy. No refund shall be payable except in the circumstances specifically provided under the said policy or where otherwise required under applicable law or regulatory requirements.
  5. The Client acknowledges that the applicable Refund & Cancellation Policy is made available before or at the time of subscription/payment and agrees to be bound by it.

15.Third-Party Research

Where research reports prepared by another SEBI Registered Research Analyst or another permitted third party are made available through the Teji Mandi Platform:

  1. such research shall be clearly identified with the name of the respective Research Analyst or source;
  2. applicable regulatory disclosures shall be displayed along with such research;
  3. such reports shall remain the independent views of the respective Research Analyst; and
  4. TMITPL shall not alter or modify the substantive contents of such reports.

Different Research Analysts may have different research methodologies and investment views. Accordingly, recommendations relating to the same security may differ.

Clients are advised to review the source and applicable disclosures of any third-party research before making an investment decision.

16.Limitation of Liability

While reasonable care is taken in preparing research content and maintaining the Platform, TMITPL does not guarantee uninterrupted availability of the Services or the accuracy, completeness or timeliness of any information.

To the extent permitted under applicable law, TMITPL shall not be responsible for any direct, indirect, incidental or consequential loss arising from:

  • use of the Platform;
  • reliance upon research reports or recommendations;
  • market movements;
  • delays in transmission of information;
  • technical failures beyond the reasonable control of TMITPL; or
  • investment decisions taken by the Client.

Nothing contained in these Terms shall limit or exclude any liability which cannot be excluded under applicable law.

17.Suspension or Termination of Services

TMITPL may suspend or terminate access to the Services:

  1. where required by law or any regulatory authority;
  2. upon discovery of false, inaccurate, incomplete or misleading information;
  3. in case of misuse of the Platform;
  4. for breach of these Terms or applicable policies; or
  5. for any other reason permitted under applicable law.

Suspension or termination shall not affect rights or obligations accrued prior to such suspension or termination.

18.Privacy and Confidentiality

TMITPL shall collect, use, process and store Client information in accordance with its Privacy Policy and applicable laws.

Information provided during onboarding or while availing the Services may be used for:

  • providing the subscribed Services;
  • KYC and regulatory compliance;
  • internal record keeping;
  • audit and statutory requirements;
  • grievance redressal;
  • prevention of fraud and misuse; and
  • other purposes permitted under applicable law.

TMITPL shall take reasonable measures to protect the confidentiality and security of Client information.

19.Force Majeure

TMITPL shall not be liable for any delay or failure in providing the Services arising from events beyond its reasonable control, including natural disasters, acts of government, regulatory restrictions, internet or telecommunications failures, power failures, cyber incidents, war, strikes or other force majeure events.

20. Electronic Record

These Terms constitute an electronic record under the Information Technology Act, 2000 and the rules made thereunder, as amended from time to time.

The electronic record is generated by a computer system and does not require a physical signature.

21.Amendments

TMITPL may amend these Terms and applicable policies from time to time to reflect changes in applicable laws, regulations, SEBI requirements, regulatory directions or business processes.

The revised Terms shall be made available on the Platform and shall become effective from the date specified therein.

22.Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India.

Subject to applicable laws and regulatory dispute resolution mechanisms, the courts at Mumbai, Maharashtra shall have jurisdiction over disputes arising out of or relating to these Terms or the Services.

23.Entire Agreement

These Terms, together with the Most Important Terms and Conditions (MITC), Privacy Policy, Risk Disclosure, Research Disclaimer, Refund & Cancellation Policy, Grievance Redressal Mechanism and other applicable regulatory disclosures made available on the Platform, constitute the agreement between the Client and TMITPL with respect to the Research Analyst Services.

If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue to remain in full force and effect.

EFFECTIVE DATE OF TERMS: The terms and conditions were last updated on Jun 2026.

IF YOU HAVE ANY QUESTIONS ABOUT THESE TERMS AND CONDITIONS, PLEASE CONTACT US AT: support@tejimandi.com
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