Research Analyst (RA):
BharatBilla, led by Bibhav Nayak, SEBI-Registered Research Analyst (Registration No. INH000010849).
Referred to as “RA,” “We,” “Our,” or “Us.”
Referred to as “You” or “Your.” Any individual or entity availing our research and advisory services must comply with the eligibility requirements set under Indian law.
These Terms & Conditions (T&C) define the rules and responsibilities governing your subscription or usage of our research services (“Services”) via our website, mobile application, or any digital platform.
This document includes the mandatory provisions of SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004, dated January 8, 2025, and relevant amendments to the SEBI (Research Analysts) Regulations, 2014.
In the event of any conflict, SEBI’s rules and guidelines will take precedence.
Client / User: Any individual or entity that registers and agrees to these Terms to access BharatBilla’s services.
Services: Includes research reports, data, investment models, or analysis of Indian-listed securities and related advisory communication.
Digital Platform: Our website, web/mobile app, or third-party service used for delivering our Services.
KYC: Know Your Customer — SEBI-mandated verification process to establish client identity.
BharatBilla offers research and analysis only.
We do not execute trades, handle funds, or provide any guaranteed or assured returns.
Model portfolios are informational tools designed to help you understand market opportunities. They do not assure performance or specific results.
All recommendations comply with SEBI’s guidelines under Annexure-A of the relevant Circular.
Where applicable, BharatBilla may use AI tools to support research insights.
We remain fully responsible for the quality, accuracy, and confidentiality of all data and analysis shared.
All investments involve market risk. Past performance is not indicative of future results. BharatBilla does not guarantee any returns or profits.
Only individuals aged 18 years or above, or legally incorporated entities, may avail BharatBilla’s services.
Minors or persons not competent to contract under Indian law are not eligible.
Clients must complete KYC verification by providing accurate and complete details.
Failure to meet KYC requirements may result in suspension or termination of services.
To access our paid research services, clients must complete the registration process and accept these T&C.BharatBilla reserves the right to decline or cancel registration in case of incorrect or incomplete information.
You are responsible for maintaining the confidentiality of your login details. Any unauthorized use due to negligence will be your responsibility.Sharing or reproducing our research materials without written consent is strictly prohibited.
As per SEBI Regulation 15A, BharatBilla may charge up to ₹1,51,000 per family per annum (excluding applicable taxes).
This limit applies to individual and HUF clients.
For corporate or institutional clients, fees are determined mutually, ensuring fairness and transparency.
Fees may be collected quarterly or annually in advance, as allowed by SEBI.
If services are discontinued before completion, clients will receive a pro-rata refund for the unused period.
No penalty or breakage fee will be charged.
By subscribing to our services, you confirm that you do so voluntarily and with full awareness of associated risks.
BharatBilla and its clients agree to follow the SEBI Act, Research Analyst Regulations, and all applicable circulars..
You must keep your contact and KYC details up to date and ensure accuracy at all times.
Our reports and recommendations are for educational and informational purposes only.
They do not ensure profits or guaranteed outcomes. All investments are subject to market fluctuations.
The renewal fee will not exceed the maximum limit mentioned in Annexure A. BharatBilla may offer discounts at its discretion.
BharatBilla values your privacy.
We do not share personal data with third parties unless required by law.
While we strive for data protection, online data transmission may not always be completely secure.
BharatBilla is not liable for any loss, damage, or financial loss incurred from decisions based on our research reports.
We rely on credible third-party data but cannot guarantee absolute accuracy.
You agree to indemnify BharatBilla, its team, and affiliates against any claims or damages arising from misuse of our services or violation of these Terms.
We reserve the right to suspend or terminate your access due to non-payment, regulatory direction, or breach of terms. Refunds (if applicable) will be processed as per our refund policy.
Amendments: BharatBilla may update these Terms as per SEBI or regulatory requirements. Continued use of our services implies acceptance of such updates.
Severability: If any clause is held invalid, others remain enforceable.
Jurisdiction: These Terms are governed by Indian law, with legal jurisdiction in Pune, unless otherwise directed by SEBI.
Disclaimer: SEBI registration or NISM certification does not imply guaranteed performance or returns.
All investments in securities are subject to market risks.