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As per SEBI Guidelines:
- In the case of premature termination of the Investment Adviser services according to the agreement, a refund of fees for the unexpired period will be provided to the client after deducting a breakage fee of 25% of the total fee paid for the services. However, the client is required to provide a one-month notice period for the premature termination of the services.
- If the client requests services for a duration of one (1) month, the fees paid by the client for the said services shall be non refundable.
Illustration for Refunds on Premature Termination:
Suppose a subscriber has paid Rs. 12,000 for 6 months of services and wishes to terminate the agreement after utilizing it for 15 days. Then, the calculation would be as follows:
- Total Fee Paid For 6 months: Rs. 12,000/-
- Monthly Fee = Rs. 2000/-
- Contract Termination Fee: (25% of the Total Fee) = Rs. 3000/-
- Service Used Before Cancellation Request = 0.5 month
- Notice Period = 1 month
- Total Usage Period = (D+E) = 1.5 months
- Unexpired Period = 6 Months – 1.5 Months = 4.5 Months
- Unexpired Services Fee = 4.5 * Rs. 2000 = Rs. 9000/-
- Refund That Will Be Processed = (H-C) = 9000 - 3000 = Rs. 6000/-
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Investor GrievanceSEBI Registered Investment Adviser Details:
Registered Name:
EQUITYPANDIT FINANCIAL SERVICES PRIVATE LIMITED
Type of registration:Non-Individual
Registration No.:INA000006688
Validity:Perpetual
Principal Officer: Kamlesh Sachar | Email: po@equitypandit.co.in | Contact No.: +91 8000816688 | SEBI LO.: Ground Floor, Jeevan Nidhi 2 LIC Building ,Ambedkar Circle, Bhawani Singh Rd, Jaipur, Rajasthan 302005
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