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REFUND POLICY

1. Refund Request Process

To request a refund, the client must submit a request by emailing support@tejimandi.com with the following details:

  • Full Name
  • PAN Number
  • Aadhaar Number (if applicable)
  • Registered Mobile Number
  • Registered Email ID
  • Subscribed Product / Plan
  • Subscription Start Date
  • Subscription End Date (if applicable)
  • Reason for RefundThe Research Analyst (RA) may request additional information or supporting documents, wherever required, to process the refund request.

2. Mandatory KYC Requirement

  1. Completion of KYC is mandatory before activation of any Research Analyst (RA) subscription.
  2. The subscription shall be activated only after successful completion of the KYC process and all applicable regulatory requirements.
  3. No research services shall be provided until the KYC process is successfully completed.

3. Refund for Incomplete KYC

If a client makes payment but does not complete the mandatory KYC verification within 7 calendar days from the date of payment:

  • The subscription will not be activated.
  • No research services will be provided.
  • If KYC remains incomplete after the prescribed period, the subscription request shall be cancelled.
  • The amount paid by the client shall be refunded to the original payment source within a reasonable period, after deduction of statutory charges, if any, where applicable.

4. Refund Eligibility

The RA may process refunds under the following circumstances:

  • Suspension or cancellation of the RA registration by SEBI.
  • Failure to complete mandatory KYC verification within the prescribed timeline resulting in non-activation of the subscription.
  • Technical failure in completing mandatory KYC verification.
  • Duplicate payment received for the same subscription.
  • The client is identified under any SEBI debarred or restricted list.
  • Services cannot be provided due to the Prevention of Money Laundering Act (PMLA) or any other applicable law or regulatory requirement.
  • Discontinuation of services by the RA after activation of the subscription. In such cases, the refund shall be processed on a pro-rata basis for the unutilized subscription period.

Any other exceptional case approved by the RA based on merit.

5. Refunds Not Permitted

Refund requests shall not be accepted under the following circumstances:

  • The client is dissatisfied with market performance or investment returns.
  • The client expects guaranteed or assured returns.
  • The client requests recommendations or services that are outside the scope of the subscribed Research Analyst service.
  • The client is dissatisfied with the performance or composition of the recommended model portfolio.
  • The client requests advice relating to products or services that are not covered under the Research Analyst registration.
  • The client has already received the subscribed research services and there is no deficiency in service.
  • Any refund request made solely due to changes in market conditions or personal investment decisions.

Any request that is inconsistent with the SEBI (Research Analysts) Regulations, 2014, SEBI Circulars, or the Most Important Terms and Conditions (MITC) issued by SEBI from time to time.

6. Refund Processing Timeline

Eligible refunds shall normally be processed within 7 to 10 working days after approval of the refund request and completion of all necessary verification.

The refund shall be credited to the original payment method used by the client, subject to applicable banking and payment gateway timelines.

7. Research Analyst’s Decision

The decision of the Research Analyst regarding the eligibility of a refund, after considering the applicable SEBI regulations, contractual terms, and facts of the case, shall be final and binding, subject to applicable laws and regulatory directions.

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