Compliance & Disclosures.
All disclosures, terms and policies required under the SEBI (Research Analysts) Regulations, 2014.
The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
Registration & declarations
- The RA is duly registered with SEBI under the SEBI (Research Analysts) Regulations, 2014. Registration number: INH000023579; registration date: 10 October 2025. BSE Enlistment No.: 7112.
- Recommendations are prepared on the basis of technical analysis and other studies by Research Analyst Nishant Shukla.
- Segments covered: Equity Cash · Equity Futures · Equity Options · Non-Agri Commodities (MCX) · Agri Commodities (NCDEX).
- The maximum fee that may be charged by the RA is ₹1,51,000 per annum per family of client (for individual / HUF clients).
- The RA cannot execute / carry out any trade on behalf of the client. Clients are advised not to permit the RA to execute any trade on their behalf.
- The RA does not manage client portfolios — it provides research and recommendations for clients to invest independently.
- Any assured / guaranteed / fixed returns schemes are prohibited by law and are not offered.
- The RA shall never ask for login credentials or OTPs of the client's Trading, Demat or Bank accounts. Never share such information with anyone, including the RA.
MITC — Annexure A (summary)
- The RA cannot execute / carry out any trade on behalf of the client.
- Fees charged are subject to the maximum prescribed by SEBI / RAASB — currently ₹1,51,000 per annum per family of client (individual / HUF). The limit does not include statutory charges and does not apply to non-individual clients / accredited investors.
- Advance fees shall not exceed the period stipulated by SEBI (presently one quarter). On pre-mature termination, the client is entitled to a refund of proportionate fees for the unexpired period.
- Payments may be made by cheque, online bank transfer, UPI, or CeFCoM (BSE). Cash payment is not allowed.
- The RA will endeavour to promptly inform the client of any actual or potential conflict of interest.
- The RA cannot guarantee returns, profits, accuracy, or risk-free investments. Recommendations do not provide any assurance of returns; there is no recourse for losses incurred.
- SEBI registration, RAASB enlistment and NISM certification do not guarantee performance or returns.
- Grievances: contact the RA first (+91 62666 59514 · info@posaresearch.com), then SEBI SCORES (scores.sebi.gov.in), then Smart ODR (smartodr.in).
- Clients must keep contact details (email, mobile) updated with the RA at all times.
- The RA will never ask for trading / demat / bank login credentials or OTPs.
Recommendation disclosure & disclaimer
Disclosure
Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Recommendations issued by Posa Research Analyst are prepared on the basis of technical analysis and other studies by Research Analyst Nishant Shukla (SEBI Reg. No. INH000023579). SEBI registration does not guarantee any profit or returns. Please read all related information carefully and consider consulting a financial advisor before trading.
Disclaimer
I, Nishant Shukla, am an active individual SEBI-registered Research Analyst. Neither the analyst nor SEBI registration guarantees any profits. Investments in financial markets are subject to market risks; please consult your financial advisor as appropriate.
Refund · Privacy · PMLA · Fraud awareness
Refund Policy
All sales are final and no refunds are offered for the paid period of services already availed. As per SEBI guidelines, if a client requests cancellation, a refund is issued only for the unused portion, calculated on a pro-rata basis after deducting charges for services already availed, applicable taxes and administrative fees. Investments in securities markets are subject to market risks; profits and losses from our recommendations are solely the responsibility of the client. For questions, contact info@posaresearch.com.
Privacy Policy
- Information collection: we collect information when you register, subscribe or interact with our services — name, contact details and financial preferences.
- Use of information: used to provide research services, process subscriptions and improve client experience.
- Data protection: reasonable security measures protect your data from unauthorised access.
- Third-party disclosure: we do not sell or trade your information. Data may be shared with regulators where required by law, or with trusted partners under strict confidentiality.
- Cookies: used to improve website functionality and user experience.
- Your rights: you can access, update, or request deletion of your information by writing to info@posaresearch.com.
PMLA Policy
The Prevention of Money Laundering Act, 2002 (PMLA) is an Indian law enacted to combat the offence of legalising income or profits from an illegal source. POSA complies with all applicable PMLA obligations, including KYC verification, record-keeping, and reporting of suspicious transactions where required.
Be Aware of Frauds
Fraudulent individuals sometimes misuse the SEBI registration numbers, Aadhaar, PAN and GST numbers of registered Research Analysts to defraud investors. Such actions are not connected to Posa in any way. Protect yourself: verify credentials only through the official channels listed on this site; treat unsolicited calls / messages claiming to represent Posa with caution; verify SEBI registration on the SEBI website; never share trading / demat / bank credentials or OTPs. To report fraud: inform POSA at +91 62666 59514, then file a complaint on SEBI SCORES (scores.sebi.gov.in) with supporting documents, or contact SEBI at 022 2644 9000 / sebi@sebi.gov.in.
Mandatory records & annual audit reports
In compliance with the SEBI circular dated 8 January 2025, the RA maintains records of interactions with all clients (including prospective clients prior to onboarding) in the form of physical records, telephone recordings, emails, SMS records or other legally verifiable records. Such records begin with the first interaction and are maintained for five years (or till resolution in case of a dispute).
Annual audit reports as required under the SEBI (Research Analysts) Regulations, 2014 are available on request — contact info@posaresearch.com.
Questions about compliance?
Write to the Compliance Officer — Nishant Shukla · +91 62666 59514 · info@posaresearch.com
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