Terms of Use

• Acceptance of Terms

  This Web- Site is offered to the user of the Service (User) on the condition that the User accepts the terms contained herein, without any modification whatsoever. For the purposes of this Terms of Use, 'Service' shall mean and include, without limitation, access to all, one or some of the following: - HTML Code, literature, information, software, products, tools, online educational course material, any research or recommendation service including but not limited to StockSelect,The India Letter (earlier called 'MidcapSelect'), Hidden Treasure, ValuePro, The 5 Minute Premium, Research Reports, the Portfolio Tracker and e-learning courses, whether authored by Equitymaster or by any third party and published, provided or made available on www.equitymaster.com whether pursuant to subscription or otherwise.

• Intellectual Property Rights(IP):

  Equitymaster hereby grants to the User, the right to use the Service in accordance with these terms, and for no other purpose. Please note that all elements contained on this Web-Site including all individual articles, columns and other elements making up the Service are also Copyrighted works and are owned by Equitymaster and/ or its Suppliers and are protected by Copyright, Service Marks and Trademark laws, International Treaty provisions and/or other proprietary rights under the laws of India and this Terms of Use. By using the service you agree to abide by all applicable Copyright and other laws as well as any additional Copyright notices or restrictions contained in the Service. Equitymaster or other third parties shall be entitled to obtain equitable relief for any violation of their IP, over and above all other remedies available to it to protect its interests therein. Violators will be liable to be prosecuted to the maximum extent possible. Copying for reproduction, for redistribution or other purpose of the web site or any part thereof including but not limited to text content and graphics to any other server or location including caching of any kind is expressly prohibited. The Service is non-exclusive, non transferable, non-assignable, non-sublicensable, revocable license to the User. The Service is not sold to the User. Equitymaster owns the Service, its applications and Trademarks.

• Links to third Party Sites:

  This Web- Site may contain links to Web Sites operated by parties other than Equitymaster. The links in this Site will let the User leave www.equitymaster.com and proceed to the linked site. The User's use of each such site is also subject to this Terms of Use and other terms of use, if any, contained within each such site. In the event that any of the Terms contained herein conflict with the terms of use contained within any such site, then the terms of use for such site shall prevail. The linked Sites are not under the control of Equitymaster and Equitymaster is not responsible for the contents of any linked Site or any link contained in a linked Site, or any changes or updates to such sites. Equitymaster will not directly or indirectly be liable for any loss that may arise to the User as a result of his accessing the linked Sites.

• Access Restriction/ Fees:

  Equitymaster reserves the right to deny, in its sole discretion, any User access to this Web Site or any portion thereof without notice or justification. Further Equitymaster reserves the right at any time to charge fees for access to any service provided by it.

  Equitymaster may offer its service Portfolio Tracker free of charge to the User subject to such terms and conditions including the period for which it is offered free of charge, as may be decided by Equitymaster. It shall put up a notice to this effect with necessary details at the relevant point of time.

• Registration and subscription:

  1 If you wish to receive access to the restricted editorial content of the Website you will need to register (as a Registered User) or subscribe (as a Subscriber) with us and the following provisions of this Clause will apply.

  1.1 You agree to:

  a) provide true, accurate, correct and complete information which you are required to provide when you register or subscribe as a user of the Website, whether in respect of the Subscription Services or the Free Services ("Personal Information"); and

  b) notify us immediately of any changes to the Personal Information.

  c) receive calls, messages, emails, text through any medium, channel or platform regarding our products or services and various promotional offers for solicitation.

  d) You agree not to: impersonate any other person or entity or to use a false name or a name that you are not authorised to use, or disclose your password or user name to any other person, or allow your password or user name to be used by any other person to access the Services.

  e) We reserve the right to decline any application from you to register or subscribe as a user of the Subscription Services and/or the Free Services at our sole discretion. If you are accepted you will receive from us a user name and password. If you are allowed to select a user name, we reserve the right to modify such or provide you with a user name of our choice if, in our sole opinion, such user name infringes or violates the rights of any person or third party or is defamatory, offensive or is in any other way improper or inappropriate.

  f) We reserve the right to terminate your account (including user name and password) if any Personal Information is untrue, inaccurate, out-of-date or incomplete.

• Your Obligations:

  1 You:

  1.1 agree not to use the website(s) and/or the services (or any part thereof) including any discussion Forums for any illegal purpose and agree to use it in accordance with all relevant laws;

  1.2 agree not to upload or transmit through the website(s) and/or the services any computer viruses, macro viruses, trojan horses, worms or anything else designed to interfere with, interrupt or disrupt the normal operating procedures of a computer;

  1.3 will not upload or transmit through the website(s) and/or the services any material which is defamatory, offensive, or of an obscene or menacing character, or that may cause annoyance, inconvenience or needless anxiety;

  1.4 will not use the website(s) and/or the services in a way that may cause the website(s) and/or the services to be interrupted, damaged, rendered less efficient or such that the effectiveness or functionality of the website(s) and/or the services is in any way impaired;

  1.5 will not use the website(s) and/or the services including any Discussion Forums in any manner which violates or infringes the rights of any person, firm or company (including, but not limited to, rights of intellectual property, rights of confidentiality or rights of privacy);

  1.6 will not attempt any unauthorised access to any part or component of the website(s) and/or the services;

  1.7 agree that in the event that you have any right, claim or action against any Users arising out of that User's use of the website(s) and/or the services, then you will pursue such right, claim or action independently of, and without recourse to us; and agree not to allow any third party directly or indirectly to use your subscription, user name or password.

  1.8 Agree that you are fully aware of the provisions of the Prevention of Money Laundering Act, 2002, and rules made thereunder and you will not use the website(s) and/or the services (or any part thereof) for any purpose which is in violation of the applicable anti-money laundering laws, statutes, rules and regulations and any related or similar laws, statutes, rules, regulations or guidelines issued, administered or enforced by any governmental agency in the jurisdictions in which you are a subject thereto (collectively, the "Anti-Money Laundering Laws"), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving you with respect to the Anti-Money Laundering Laws is pending or, to the best of your knowledge threatened.

  1.9 Agree that that any payment made by you to subscribe to the services is derived through legitimate sources and is not held or designed for the purpose of contravention of any Anti-Money Laundering Laws or any statute or legislations or applicable laws or notifications, directions issued by any governmental or statutory authority from time to time.

• Limits on Personal and Non-Commercial Use:

  The User expressly agrees to use the Service strictly for personal purpose. The User shall not recompile, disassemble, copy, modify, distribute, transmit, display, perform, reproduce, publish or create derivative works from, transfer, or sell any information, software, products, tools or services accessed from this web site. The User may not rent, lease, sell, sublicense, lend or in any manner allow any other party to use the Service, with or without consideration. By viewing the contents of this website you agree this condition of viewing and you acknowledge that any unauthorized use is unlawful and may subject you to civil or criminal penalties.

• Privacy

  The User represents that he is aware that in the process of subscribing to the Service or parts of it, Equitymaster may obtain information relating to the User, including that of a confidential nature. This information will be used by Equitymaster for its internal purposes and will be kept confidential. Notwithstanding anything contained above, Equitymaster reserves the right to disclose personal information where it believes in good faith that such disclosure is required by law, to perform necessary credit checks or collect or report debts owed to Equitymaster, to protect Equitymaster's rights or property or for other bonafide uses. The User agrees and warrants that all information that Equitymaster may possess or may obtain pursuant to the use of Service has been possessed or obtained with the permission of the User.

  Please click here to read our detailed "Privacy Policy".

• HYPERLINKING TO SITE AND REFERENCING SITE PROHIBITED:

  Unless expressly authorized by website, no one may hyperlink this site, or portions thereof, (including, but not limited to, logotypes, trademarks, branding or copyrighted material) to theirs for any reason. Further, you are not allowed to reference the url (www.equitymaster.com) in any commercial or non-commercial media without express permission. You specifically agree to cooperate with the Website to remove or de-activate any such activities and be liable for all damages

• TERMS RELATED TO ONLINE PAYMENTS

  A. Online Card Payments: one-time payment:

  Credit/Debit Card payments are processed through "CCAvenue", an online payment gateway system or any other payment gateway system that Equitymaster may use from time to time. By using a credit/debit card to pay for our services, you confirm that the card being used is yours. All credit/debit card holders are subject to validation checks and authorisation by the card issuer. The Card information provided will be authenticated by your bank through the payment gateway system directly without any information being stored at our website. In approximately 25-30 seconds (depending on your internet connection) your bank will issue, using the online payment gateway "CCAvenue" or any other payment gateway that Equitymaster may be using, an authorization code and confirmation of completion of transaction. The information provided is used by the payment gateway system "CCAvenue" or any other payment gateway system that Equitymaster may be using to process the payment.

  Please note Equitymaster does not save or store your credit card information on any of it's servers. This information is passed on to our payment gateway for processing.

  Equitymaster, as a Verisign Certified Site, uses the latest encryption technology to protect your card information (to know more about this, please click on the Verisign logo on the registration page). You can subscribe to our product using SSL encryption (the internet standard for secure transactions).Your account will be activated only after the successful completion of the transaction.

  Internet Banking

  If you have an account with any of the banks made available for making payment by online payment gateway "CCAvenue" or any other online payment gateway system that Equitymaster may be using, then you can pay through respective bank's net banking options and the amount will be automatically debited from your account through an online gateway system, which enables safe and secure transaction.

  Transaction Confirmation

  Once your transaction has been completed, you will receive a confirmation of your transaction from Equitymaster. If you do not receive a confirmation of your transaction, first look into your "spam" or "junk" folder to verify that it has not been misdirected, and if still not found, please contact us.

• B. Online card payments: Auto debit/ Standing Instructions facility:

  "Auto Debit/Standing Instructions facility" means the facility wherein you have authorized Equitymaster to charge your credit card for a specified amount towards your subscription fees every time your subscription fee becomes due and payable till such time as you continue to subscribe for the Services or your instruction for cancellation of Auto Debit facility or withdrawal of this facility whichever is earlier.

  Credit Card payments on Auto debit/Standing Instructions basis are processed through HDFC Bank payment gateway or any other payment gateway system that Equitymaster may have an agreement with. By using a credit card to pay for our services, you confirm that the card being used is yours. All credit card holders are subject to validation checks and authorization by the card issuer. The Card information provided by you will be stored by Equitymaster on servers of Agora Inc. (an Equitymaster Affiliate). Agora Inc. is level 2 PCI Compliant and practices reasonable security measures to protect card data.

  Transaction Confirmation

  Your account will be activated only after the successful completion of the initial transaction. Once your transaction has been completed, you will receive a confirmation of your transaction from Equitymaster for the initial and the subsequent payments. If you do not receive a confirmation of your payment, first look into your "spam" or "junk" folder to verify that it has not been misdirected, and if still not found, please contact us.

  After the initial payment made by you, Equitymaster would, on a best effort basis send an advance notification mail every time your subscription fees become due and payable.

  Modification/Cancellation of Credit Card facility:

  You may request for cancellation of auto debit/Standing Instruction facility by giving 30 days notice or such period as may be specified in a particular offer. The notice should be sent to Equitymaster in writing or via email and the same will be effected within a minimum period of 7 days of the receipt of the request. The Company will not be responsible for any delays, which are beyond its control.

  Equitymaster shall not be responsible for any fraudulent or disputed transactions. In case of a dispute regarding the transaction through your credit card the same must be resolved by you directly with your Credit Card issuer. You will not make Equitymaster a party to any such dispute and Equitymaster shall not be liable to you for any consequence arising out of the fraudulent or disputed transactions.

  This facility is available on such credit cards as intimated by Equitymaster from time to time.

  No extra cost will be charged to you for this facility. In the event you are dissatisfied with the auto debit/ Standing Instruction facility being made available in any respect or with any of the terms of service or alterations thereto, your sole and exclusive remedy is to discontinue the use of the Facility.

  Disclaimer:

  You agree that the credit/ debit card information are of sensitive nature and are aware of the risks involved in making payment through the internet. You shall be responsible for safe keeping the credit/ debit card information and shall not share it with any other person.

  Equitymaster will not be liable for any loss or damage caused by the misuse of such information due to your negligence or default.

  Equitymaster as a merchant shall be under no liability whatsoever in respect of any loss or damage arising directly or indirectly out of the decline of authorization for any transaction, on account of your having exceeded the preset limit mutually agreed by us with our acquiring bank from time to time.

• TERMS RELATED TO PAYMENTS THROUGH NACH/ELECTRONIC CLEARING SYSTEM (ECS) /AUTO DIRECT DEBIT

  The NACH/Electronic Clearing System (ECS) /Auto Direct Debit facility is offered by Equitymaster Agora Research Private Limited under arrangement with Bill Desk Service of Indiaideas.com Limited or any other service provider that the Company may tie up with from time to time.

  Please click here to read our detailed Terms on ECS/Auto Direct Debit.

• TERMS FOR EQUATED MONTHLY INSTALLMENTS (EMI option)

  For "Equated Monthly Installments" (hereinafter referred to as "EMI option"), the following additional terms and conditions will apply. By exercising the "EMI option" the Subscriber acknowledges having understood and accepted these terms and conditions:

  Please click here to read our detailed Terms on EMI option

• Modification of these terms and conditions

  Equitymaster reserves the right to change, without notice, this Terms of Use under which the Service is offered. The User's continued use of the Service will be subject to the Terms of Use in force at the time of the Use.

  You agree to review these terms of use periodically since subsequent use by you of this site shall constitute your acceptance of any changes. Equitymaster shall have the right at any time to change or discontinue any aspect of Equitymaster.com, including, but not limited to, the community areas, content, hours of availability and equipment needed for access to use. Such changes, modifications, additions or deletions shall be effective immediately upon posting and any subsequent use by you after such posting shall conclusively be deemed to be acceptance by you of such changes, modifications or deletions.

• Indemnification

  The User agrees to indemnify, defend and hold harmless Equitymaster, its officers, directors, employees, representatives and agents, any third party providers, distributors from and against any cause of action, claim or demand, including without limitation any reasonable legal accounting or other professional fees, brought by or on the user's behalf in excess of the liability described herein or by / on account of a third party due to or arising out of User's use of this Web site, the Service contained herein, the violation of any intellectual property or any other right of any person or entity.

• Disclaimer of warranties

  Equitymaster's research, recommendation and educational services published or provided by Equitymaster and authored by Equitymaster or a third party are general recommendation/educational services and are not to be construed as individual investor specific Portfolio Management and Advisory Service. Equitymaster is not registered as such under the SEBI (Portfolio Managers) Regulations, 1993.

  Equitymaster is neither a university nor an educational institution and is not affiliated with any university or educational institution and will not grant a degree or any other certificate that is recognized by the Central Government, the State Government or any other bodies set up by the Government in India, including the Securities and Exchange Board of India. The course/training material provided by Equitymaster under its educational courses has not been certified by any university or other educational institution or other organization qualified to provide certification.

  The User warrants that he/she/it shall obtain independent investment advice before making any Investment based on such recommendation.

  The recommendation service, views, articles, reports, educational course material and other contents are provided on an "As Is" basis by Equitymaster. Use of the Service is at any persons, including a Subscriber's/Client's, own risk. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and shall not be responsible or liable for any losses incurred by a user for acting based on the views expressed in this service.

  Equitymaster expressly disclaims all warranties and conditions of any kind, whether express, implied or statutory pertaining to the Services provided by it including but not limited to implied warranties and conditions of merchantability, fitness for a particular purpose, data accuracy and completeness and any warranties relating to viruses and non-infringement in the Service and provision of service free from disruption or interruption.

  The Service should not be construed to be an advertisement for solicitation for buying or selling of any securities or assets. Equitymaster provides research recommendations on securities listed on Indian securities exchanges only. Equitymaster shall not be responsible (directly or indirectly) for use or otherwise of Service by a User, including a User who is a citizen or resident or located in any locality, state, country or other jurisdiction outside India specifically a resident of the United States of America, Canada or the European Union countries and we hereby expressly disclaim any implied warranties imputed by the laws of any other jurisdiction. We consider ourselves and intend to be subject to the jurisdiction only of the Courts in Mumbai, India. If you don't agree with above please do not read the material on any of our pages.

  Our investment recommendations are general in nature and available electronically to all kind of investors irrespective of subscribers' investment objectives and financial situation/risk profile. Equitymaster shall not be responsible for any direct/indirect loss or liability incurred to the user as a consequence of his or any other person on his behalf taking any investment decisions based on the information, recommendations, research reports, analysis, quotes, educational course material etc. provided on the web site.

  Equitymaster shall also not be liable for errors, omissions or typographical errors, disruption delay, interruption, failure, deletion or defect of/in the Service provided by it.

  Equitymaster does not warrant accuracy of any feed from the stock exchanges/ currency/commodities exchanges or any other third party.

  Equitymaster shall not be liable, directly or indirectly, to the User or any third party, as a consequence of the failure of its equipment, howsoever defined, or that of any Stock exchange/ currency/commodities exchanges, Internet Service Provider, User or any third party to function in such manner as is reasonably expected of such equipment. Equitymaster shall not be responsible for any downtime of such equipment.

  Where Equitymaster offers to send alerts to the Subscriber through SMS, Equitymaster shall not be liable to pay or bear any cost, charges, fee charged by a service provider to the Subscriber for receipt of such SMS. Equitymaster may at any time without notice withdraw the facility of sending SMS alerts to the Subscribers. In case Subscriber does not want to receive SMS alerts from Equitymaster, he/she may unsubscribe through 'Manage Subscriptions' or send a written intimation to Equitymaster on the same.

  Equitymaster makes no representations or warranties, either express or implied that the research, development, marketing, distribution, use or sale of the Service will not infringe any patent, copyright or other right of any third party.

• DISCLAIMER FOR HARM CAUSED TO YOUR COMPUTER FROM INTERACTING WITH THIS WEBSITE

  The website assumes no responsibility for damage to computers or software of the visitor or any person the visitor subsequently communicates with from corrupting code or data that is inadvertently passed to the visitor's computer. Again, visitor views and interacts with this site, or banners or pop-ups or advertising displayed thereon, at his own risk.

• Posting Comments

  For posting comments on Website/Learning Forum/the Equitymaster Club (hereinafter referred to EQTM)

  1. The views, opinions and comments posted are yours, and are not endorsed by Equitymaster. You shall be solely responsible for the comment posted on EQTM. Comments posted on EQTM may be moderated and Equitymaster reserves the right to edit, modify, delete, reject, or otherwise remove any views, opinions and comments posted or part thereof without notice.
  2. You shall ensure that your comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
  3. User Comments are made available to you for your information and personal non-commercial use solely as intended through the normal functionality of the Equitymaster Service. User Comments shall not be used, downloaded (either permanently or temporarily) copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, downloaded, or otherwise commercially exploited in any manner.
  4. For signup to the Equitymaster Club using your social account:
     1. You authorize Equitymaster to access information which is made available by the social platform.
     2. You can delink your social account from the Equitymaster Club at any time.
  5. You agree that EQTM is not a platform to solicit, discuss or seek any ideas, views, opinions on specific stock/derivatives.
  6. You shall not conduct or forward surveys, contests, or chain letters or post any commercial content.
  7. Use of EQTM is at your own risk. Equitymaster does not guarantee the accuracy, integrity or quality of any content posted on EQTM. Equitymaster assumes no responsibility or liability for the deletion or failure to store, inaccuracy in transmission, use of any data, content posted, uploaded on EQTM.
  8. You may not send, submit, post, or otherwise transmit, messages or material that contain software virus, that are designed to interrupt, destroy, and negatively affect in any manner whatsoever, any electronic equipment / software / coding in connection with the use of this portal.
  9. In the event that you breach any of the Terms of Use, Equitymaster shall have the right to delete any material relating to the violations without notice. Equitymaster also reserve the right to ban anyone who willfully violates these Terms of Use. Inobservance of these terms and conditions may lead to an immediate warning, an infraction and deletion of the concerned post. Repeated offences shall lead to the member being permanently banned from EQTM.
  10. Equitymaster may place reasonable restrictions on the maximum number of days that messages will be retained, the maximum size of any message that may be sent from or received by a User.
  11. Equitymaster reserves the full right to edit or remove any post or prohibit any user from posting any messages on EQTM at any time. The determination of what is construed as indecent, vulgar, spam, improper, irrelevant, etc. as noted in these points is up to Equitymaster. Intimation of deletion may not be communicated every time.
  12. Equitymaster on a best effort basis will not share any personal sensitive information to any other person or entity.
  13. By submitting messages on EQTM you agree to indemnify and hold harmless Equitymaster from all claims, costs and expenses (including legal expenses) arising out of any messages posted or published by you that are in breach of these Terms of Use.

• Limitation of liability

  The User agrees that neither Equitymaster nor its directors or employees or affiliates shall be liable for any direct, indirect, incidental, special or consequential damages, resulting from the use/delivery/performance or the inability to use/deliver/perform the Service or for cost of procurement of substitute goods and repair & correction services or resulting from the Services subscribed to or obtained or messages received or transactions entered into through or of User's transmissions or data, even if Equitymaster or its employees have been advised of the possibility of such damages.

  The User further agrees that Equitymaster shall not be liable for any damages arising from interruption, suspension or termination of Service, whether such interruption, suspension or termination was justified or not, negligent or intentional, inadvertent or advertent.

  The User also agrees that his sole remedy under this Terms of Use is cancellation of the Service. By viewing, using, or interacting in any manner with this site, including banners, advertising, or pop-ups, and as a condition of the website to allow his lawful viewing, Visitor forever waives all right to claims of damage of any and all description based on any causal factor resulting in any possible harm, no matter how heinous or extensive, whether physical or emotional, foreseeable or unforeseeable, whether personal or business in nature.

• REFUND POLICY:

  a) Your subscription will be enabled immediately on receipt of your payment. If you are not satisfied, you can request for your subscription to be terminated within such period as may be specified for a particular service in the offer and the money will be refunded back to you subject to the conditions in the offer.

  b) The Subscriber will be eligible for a refund only once for a particular service. In case a Subscriber has subscribed to a service, claimed refund and subscribed again for the same service, he/she will not be eligible to avail any refund.

  c) There will be no money back in offers where a credit guarantee is given. The credit cannot be utilized against lifetime subscriptions.

  d) The credit will have to be used for services within such period as may be specified in the offer. If no period is specified in the offer, it will be considered as 6 months.

  e) In the event that the Subscriber fails to utilize the credit within the credit period, the Company will not be liable to extend the credit period or make any other adjustments in lieu of the credit.

• Use of Password

  User shall be responsible for creating and safe keeping of his Password. In the event a User is given a password by Equitymaster, the User shall ensure that such password is kept in a secure manner. User may not assign his/her password obtained to any person or entity without the prior written consent of Equitymaster. Equitymaster does not have access to such password since it is generated randomly on the Equitymaster system, encrypted and passed on to the User. User shall bear all responsibility of keeping the password secure and in the event that the User incurs any liability to Equitymaster or any other third party as a result of the password being used by third parties, or due to improper use of the password, User shall, without limitation, bear all such liability. Notwithstanding anything contained herein, in the event any liability arising to the User as a consequence of any of Equitymaster's employees accessing the User's password without authorization shall be borne by the User.

• SUBMISSIONS

  Visitor agrees as a condition of viewing, that any communication between Visitor and Website is deemed a submission. All submissions, including portions thereof, graphics contained thereon, or any of the content of the submission, shall become the exclusive property of the Website and may be used, without further permission, for commercial use without additional consideration of any kind.

• MONITORING

  We have the right, but not the obligation, to monitor any activity and content associated with the website(s) and/or the services. We may investigate any reported violation of these Conditions or complaints and take any action that we deem appropriate (which may include, but is not limited to, issuing warnings, suspending, terminating or attaching conditions to your access and/or removing any materials on the website(s) and/or the services).

• Governing Law and Jurisdiction

  This Terms of Use is governed by the laws of the Republic of India. The User hereby consents and submits to the exclusive jurisdiction and venue of Courts in Mumbai, India in all disputes arising out of or relating to the use of this Web site or Service.

• General

  Nothing contained in this Terms of Use is in derogation of Equitymaster's right to comply with Governmental, Court and Law enforcement requests or requirements relating to use of this Web site, Service or information provided to or gathered by Equitymaster with respect to such use.

  This Terms of Use constitutes the entire agreement between the User and Equitymaster with respect to this Web site and the Services provided by Equitymaster.

• Foreign Jurisdictions

  All Users of the Service in countries other than India understand that by using the Service, they may be violating the local laws in such countries. If the User chooses to access the Service from outside India, especially the United States of America, Canada or the European Union countries, he shall be responsible for compliance with foreign and local laws. The Users agree that they will solely be liable for any liability incurred by them in this regard and will indemnify Equitymaster for any liability Equitymaster may incur in any foreign jurisdiction as a consequence of citizens / residents of countries other than India using the Service. This service does not constitute an offer to sell or a solicitation to any person in any jurisdiction where it is unlawful to make such an offer or solicitation.

• Termination

  If the User violates any term of this Terms of Use, Equitymaster may terminate the User's access to this Web -Site, without waiving any other rights. The User would continue to remain liable for any liabilities that may have arisen before the termination.

  In addition to the general restrictions above, the following specific restrictions and conditions apply to your use of content on the Equitymaster Website.

  The content on the Equitymaster Website, except all User Submissions (as defined below), including without limitation, the text, software, scripts, graphics, photos, sounds, music, videos, interactive features, online educational course material and the like ("Content") and the trademarks, service marks and logos contained therein ("Marks"), are owned by or licensed to Equitymaster, subject to copyright and other intellectual property rights under the law. Content on the Website is provided to you AS IS for your information and personal use only and shall not be downloaded, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any other purposes whatsoever without the prior written consent of the Equitymaster. Equitymaster reserves all rights not expressly granted in and to the Website and the Content.

  You may access these videos or other information solely:
  a) for your information and personal non-commercial use;
  b) as intended through and permitted by the normal functionality of the Equitymaster Service; and
  c) for Streaming.

  "Streaming" means a contemporaneous digital transmission of an audiovisual work via the Internet from the Equitymaster Service to a user's device in such a manner that the data is intended for real-time viewing and not intended to be downloaded (either permanently or temporarily) copied, stored, permanently downloaded, or redistributed by the user. Accessing Videos for any purpose or in any manner other than Streaming is expressly prohibited. Videos are made available "as is."

  You may access Equitymaster Content and other content only as permitted under these terms. Equitymaster reserves all rights not expressly granted in and to the Equitymaster Content and the Equitymaster Service.

  You agree to not engage in the use, copying, or distribution of any of the Content of the Website for any commercial purposes.

  You agree not to circumvent, disable or otherwise interfere with security-related features of the Equitymaster Website or features that prevent or restrict use or copying of any Content or enforce limitations on use of the Equitymaster Website or the Content therein

• Terms and conditions for Equitymaster's Wealth Alliance (formerly Private Wealth Alliance) Membership

  For Equitymaster's Wealth Alliance (formerly Private Wealth Alliance) membership, the following additional terms and conditions will apply:

  a) This service can-not be transferred or gifted during the life time of the Subscriber. The Subscriber however may bequeath the subscription to any one person on death by way of a will. The subscription will in such cases only last during the life time of that one successor.

  b) The subscription will last during the life time of the Subscriber or the successor or continuity of the services comprised in Equitymaster's Wealth Alliance, whichever is earlier.

  c) No request for change in the composition of the service will be entertained / accepted by Equitymaster.

  d) The maintenance fee will be payable annually. Equitymaster may decide to increase/decrease or in any way modify the annual maintenance charges applicable to this service. The Subscriber agrees to be bound by them.

  e) If the member does not pay the annual maintenance fee, his access to the Equitymaster's Wealth Alliance (formerly Private Wealth Alliance) Membership will be suspended. The service can be reactivated any time by paying the maintenance fee for the current year.

  f) In case the subscription is discontinued for any reason whatsoever, the Subscriber will not be eligible to receive any reports/CD/yearbook/portfolio tracker, which forms a part of this offer.

  g) The Yearbook CD's will be delivered only to the Subscriber's address in India or to any alternate address in India which is intimated by the Subscriber in this regard.

  h) Equitymaster shall not be liable in damages for any delay or default in performance hereunder or any direct/indirect loss if such delay or default or loss is caused by winding up, transfer, assignment of Equitymaster's business or due to conditions beyond its control including, but not limited to Acts of God, Government restrictions, strikes, wars, insurrections and/or any other cause beyond the reasonable control of Equitymaster.

  i) Equitymaster may at its discretion and from time to time, change, add, remove features of the composition of the lifetime subscription services without notice. In such circumstances, Equitymaster will on a best effort basis compensate the Subscriber by providing access to any of its other service.

• Terms and conditions for Equitymaster's Lifetime ValuePro and other recommendation services lifetime Membership

  For Equitymaster's Lifetime ValuePro and other recommendation services lifetime membership, the following additional terms and conditions will apply:

  a) The service subscribed to can-not be transferred or gifted during the life time of the Subscriber. The Subscriber however may bequeath the subscription to any one person on death by way of a will.

  b) The subscription will last during the life time of the Subscriber or the successor or continuity of the subscribed service/s whichever is earlier.

  c) The maintenance fee, if applicable will be payable annually.

  d) Equitymaster may decide to increase/decrease or in any way modify the annual maintenance fee applicable to the service. The Subscriber agrees to be bound by them.

  e) If the Subscriber does not pay the annual maintenance fee, if any, his access to the service subscribed to will be suspended. The service can be reactivated any time by paying the maintenance fee for the current year

  f) The service may include number of portfolios, updates, reports and reviews.

  g) Equitymaster shall not be liable in damages, if any due to any delay, or default in performance hereunder or for closure of service or any direct/indirect loss if such delay or default or loss is caused by winding up, transfer, assignment of Equitymaster's business or due to conditions beyond its control including, but not limited to Acts of God, Government restrictions, strikes, wars, insurrections and/or any other cause beyond the reasonable control of Equitymaster.

  h) Equitymaster may at its discretion and from time to time, change, add, remove features in the subscription services without notice.

• Terms and conditions for Equitymaster's Lifetime Learning Membership

  For Equitymaster's Lifetime Learning membership, the following additional terms and conditions will apply:

  a) This service can-not be transferred or gifted during the life time of the Subscriber.

  b) This service may include number of lectures/sessions, updates and reviews and would be accessible to the Subscriber till the lifetime of the Subscriber or continuity of this service whichever is earlier.

  c) The maintenance fee, if applicable will be payable annually.

  d) Equitymaster may decide to increase/decrease or in any way modify the annual maintenance fee applicable to this service. The Subscriber agrees to be bound by them.

  e) If the Subscriber does not pay the annual maintenance fee, if any, his access to Equitymaster's Learning Membership will be suspended. The service can be reactivated any time by paying the maintenance fee for the current year.

  f) Equitymaster shall not be liable for damages due to any delay or default in performance hereunder or any direct/indirect loss if such delay or default or loss is caused by winding up, transfer, assignment of Equitymaster's business or due to conditions beyond its control including, but not limited to Acts of God, Government restrictions, strikes, wars, insurrections and/or any other cause beyond the reasonable control of Equitymaster.

  g) Equitymaster may at its discretion and from time to time, change, add, remove features in the Learning subscription services without notice.

• Terms and conditions for Golden Pass Offer

  For Equitymaster's Golden Pass Offer (hereinafter referred to as "the Offer"), the following additional terms and conditions will apply:

  a) Definition:

  1. "Golden Pass": The term "Golden Pass" means and includes a privilege given to a Subscriber to invite any friend to avail access to Equitymaster's Portfolio Tracker Service or any other service as may be decided by Equitymaster from time to time.

  2. "Subscriber": Subscriber for this purpose means Equitymaster's Wealth Alliance Member or a subscriber of any other paid service of Equitymaster.

  3. "Friend": Friend for this purpose means any person of the choice of the Subscriber who he/she would like to give the Golden Pass privilege to and who at the time of acceptance of the Offer is not/has not been a subscriber of Equitymaster.

  4. "Service": Service for this Offer means Equitymaster's Portfolio Tracker or any other paid service of Equitymaster.

  b) On acceptance of the Service, the Friend will be bound by all the Terms of Use of Equitymaster.

  c) This privilege cannot be sold by the Subscriber.

  d) No request for change in the Service given under this Offer will be entertained / accepted by Equitymaster.

  e) Equitymaster will not charge the Subscriber or Friend for availing this Offer. However, due to unforeseen circumstances, if Equitymaster requires levying a charge for availing the Service, Friend will get a notice from Equitymaster and he/she would have an option to continue being a Subscriber. In case the Friend chooses to not continue being a subscriber, he will not be levied any charges for the prior use of the service.

  f) In case the Friend does not want to continue to access the Service, Equitymaster will not offer any compensation for loss of future benefits.

  g) Equitymaster shall not be liable or responsible for any loss direct/indirect, damage caused to the Subscriber/Friend for availing this Offer.

  h) The Subscriber/Friend will be liable to bear his /her own taxes.

  i) Equitymaster may at its discretion and from time to time, change, add, remove, cancel or withdraw this Offer without notice.

• Terms and Conditions for Equitymaster Reserve Membership

  For Equitymaster Reserve Membership (the Membership), the following additional terms and conditions will apply:

  a) The Reserve Membership shall comprise of all present and future services that Equitymaster owns/may own from time to time. It will not include any service, course or product which is owned by a third party/person and where Equitymaster is only a marketing partner or is associated in any other capacity.

  The Reserve would also exclude the Equitymaster Conference, unless specified. And also, personalized bootcamps and in-person events will be excluded. As a Reserve member however, you will always have the right to access these under our most lucrative offers.

  Equitymaster does not guarantee any minimum number, nature or life of services which would form part of the Membership. In case certain services are excluded from the Membership, Subscriber would be informed of the same in the offer.

  b) The Membership can-not be transferred or gifted during the life time of the Subscriber. The Subscriber however may bequeath the subscription to any one person on death by way of a will. The subscription will in such cases only last during the life time of that one successor.

  c) The maintenance fee for the Membership will be payable annually. Equitymaster may decide to increase/decrease or in any way modify the annual maintenance fee. The Subscriber agrees to be bound by them.

  d) If a Subscriber does not pay the annual maintenance fee, his access to the Equitymaster Reserve Membership will be suspended. The service can be reactivated any time by paying the maintenance fee for the then current year.

  e) In case Membership of a Subscriber is discontinued for any reason whatsoever, he will not be eligible to receive any reports/CD/yearbook/portfolio tracker, which may form part of the offer.

  f) Equitymaster shall not be liable in damages for any delay or default in performance hereunder or any direct/indirect loss if such delay or default or loss is caused by winding up, transfer, assignment of Equitymaster's business or due to conditions beyond its control including, but not limited to Acts of God, Government restrictions, strikes, wars, insurrections and/or any other cause beyond the reasonable control of Equitymaster.

  g) Equitymaster may at its discretion and from time to time, change, add, remove features of the composition of the Membership without notice.

• Amazon Associates Program:

  Equitymaster is a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.in.

• Terms of Equitymaster Conference

  For Equitymaster Conference, the following additional terms and conditions will apply:

  a) The date, time, venue and speakers of the Conference may change in the event of any unforeseen conditions or for any other cause which is not reasonably within the control of Equitymaster.

  b) Once payment is made by the Subscriber for the Conference, no refunds will be given.

  c) Equitymaster expressly disclaims all warranties and conditions of any kind, whether express or implied and it will not be liable for any losses (direct/indirect) incurred or investment(s) made or decisions taken/or not taken based on the information provided at the Conference.

  d) Subscriber shall make his/her own arrangement for attending the Conference. Equitymaster shall not bear any cost of lodging and/or boarding or provide any arrangements to the Subscriber.

  e) Subscriber cannot sell Equitymaster Conference pass to any other person.

• Additional Terms and conditions for AWAI Program/Product ("Program")

  1. AWAI Program(s)/Product(s) means and includes direct- response copywriting, travel writing, photography, graphic design home study programs or such other products, owned & sourced from American Writers & Artists Inc (AWAI) and offered by Equitymaster to its subscribers.
  2. Equitymaster, its associates or AWAI does not assure or guarantee the subscribers any minimum or fixed returns/benefits. Equitymaster, its associates or AWAI will not be liable for any loss or liability (direct/indirect) incurred by any person as a consequence of his/or any other person on his behalf taking any decision based on the information provided in the Program.
  3. Equitymaster is the marketing partner of AWAI in India. Equitymaster's liability, if any, is limited to the extent of marketing/ distribution of the Program. Equitymaster or its associates shall not be responsible for the fulfillment of the AWAI Program(s).
  4. In case a Subscriber discontinues the Program for any reason whatsoever; he will not be eligible to receive any program updates /access to website or forum, which may form part of the Program.

• Online Resolution of Disputes

  1. You agree to undertake online conciliation and/or online arbitration by participating in the ODR Portal and/or undertaking dispute resolution in the manner provided under SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 as per its Circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023 and/or Redressal of investor grievances through SEBI Complaints Redress System (SCORES) platform as provided by SEBI as per its Circular No CIR/OIAE/1/2014 dated December 18, 2014
  2. Online Dispute Resolution Portal ("ODR Portal") per SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 is available at https://smartodr.in
  3. SEBI SCORES portal is available at https://scores.gov.in/