Consulting Services for Small Businesses

DISCLOSURE AND DISCLAIMER

I. DISCLOSURES

The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations).

1.  Sauda Dekho Research and Investment Advisors (hereinafter referred to as “Sauda Dekho”) is a sole proprietorship firm owned and operated by Yash Rajhans. The firm is engaged solely in the dissemination of educational information to retail clients (hereinafter maybe referred to as customers/ informational seekers and like in these disclosures). 

2.  No consideration, monetary or otherwise, is solicited or accepted in exchange for the information provided. All services are rendered gratuitously and are intended exclusively for educational and informational purposes.

3.  Sauda Dekho is operated by individuals who are certified as Research Analysts by the National Institute of Securities Markets (NISM). However, they are not currently registered with the Securities and Exchange Board of India (SEBI) as Research Analysts or Investment Advisers. The information provided by Sauda Dekho is derived from publicly available sources and is disseminated solely for educational and informational purposes. Such information is shared on an “as-is” and “as-available” basis and should not be construed as a recommendation to buy, sell, or hold any security or investment.

4.  Sauda Dekho as the Research Entity (RE), is neither recognised as a “Research Entity” as defined under the applicable SEBI (Research Analyst) Regulations, 2014 nor is it engaged in the business of offering stock broking services, depository participant services, or the distribution of any financial products.

5.  Details of pending Enquiry Proceedings of Sauda Dekho are available on the website at saudadekho.com

6.  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) affiliated with it, including their respective relatives, may or may not have any financial interest in the subject company. 

7.  However, Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may have actual beneficial ownership of 1% or more of the securities of the subject company as of the end of the month immediately preceding the date of publication of the research report or the date of any public appearance, as applicable.

8.  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may have other potential conflicts of interest at the time of publication of a research report or during any public appearance.

9.  Notwithstanding such potential conflicts, the views and recommendations expressed in the research reports are purely the independent and professional opinions of the concerned Research Analyst(s), and are in no way influenced by any association or relationship that may exist between Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) and the subject company(ies), partner(s). Any such conflict, if applicable, shall be disclosed appropriately in accordance with applicable regulations.

10.  In the past 12 months, Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) :

(a)  Received any compensation/other benefits from the subject company of this report

(b)  Managed or co managed public offering of securities from subject company of this research report,

(c)  Received compensation for investment banking or merchant banking or brokerage services from subject company of this research report

(d)  Received compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company of this research report.

(e)  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may have/ have not received any compensation or other benefits from the subject company or third party in connection with the research report.

(f)  Subject Company may have been a client of Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) during twelve months preceding the date of distribution of the research report.

(g)  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may have served as director/officer/employee in the subject company.

(h)  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may engage in market making activity for the subject company.

11.  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) and their relatives from time to time may

a)  a long or short position in, act as principal in, and buy or sell the securities or derivatives thereof of companies mentioned herein.

(b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market

(c) maker in the financial instruments of the company(ices) discussed herein or act as an advisor or lender/borrower to such ices) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions.; however the same shall have no bearing whatsoever on the specific

(d) recommendations made by the analyst(s), as the recommendations made by the analyst (are completely independent of the views of the associates of Sauda Dekho even though there might exist an inherent conflict of interest in some of the stocks mentioned in the research report.

12.  Above disclosures include beneficial holdings lying in demat account of Sauda Dekho which are opened for proprietary investments only. While calculating beneficial holdings, It does not consider demat accounts which may be opened in name of Sauda Dekho in near future for other purposes (i.e. holding client securities, collaterals, error trades etc.). 

13.  Sauda Dekho does not earn any DP income from clients which are not considered in above disclosures.

14.  To enhance transparency, Sauda Dekho has incorporated a Disclosure of Interest Statement in this document. This should, however, not be treated as endorsement of the views expressed in the report. Sauda Dekho and/or its affiliates do and seek to do business including investment banking with companies covered in its research reports. As result, the recipients of this report should be awa re that Sauda Dekho may have a potential conflict of interest that may affect the objectivity of this report.

II. TERMS & CONDITIONS

1.  This report/ any blog/ any form of publication has been prepared by Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) and is meant for sole use by the recipient and not for circulation. 

2.  The report and information contained herein is strictly confidential and may not be altered in any way, transmitted to, copied or distributed, in par t or in whole, to any other person or to the media or reproduced in any form, without prior written consent of Sauda Dekho. 

3.  The report is based on the facts, figures and information that are considered true, correct, reliable and accurate as readily available in public domain. 

4.  The intent of this report is not recommendatory in nature. 

5.  The information is obtained from publicly available media or other sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. 

6.  The report is prepared solely for informational (as in and available basis in public domain) and the purpose and does not constitute an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments for the clients. 

7.  Though disseminated to all the information seekers/ customers simultaneously, not all information seekers/ customers may receive this report at the same time. 

8.  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives)  will not treat recipients as customers by virtue of their receiving this report.

III. ANALYST CERTIFICATION

The views expressed in this research report accurately reflect the personal views of the certified research analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views in any nature what so ever. 

IV. DISCLOSURE OF INTEREST STATEMENT

1.  The opinions, research and other disclaimers expressed by Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) in this report may have an ownership in the stock. 

2.  A graph of daily closing prices of securities is available at www.nseindia.com, www.bseindia.com. and the graphs used from the same can be referred and verified same by the users/ recipient of the information.

3.  Research Analyst views on Subject Company may vary based on Fundamental research and Technical Research. Proprietary trading desk of Sauda Dekho or its associates maintains arm’s length distance with Research Team as all the activities are segregated from Sauda Dekho research activity and therefore it can have an independent view with regards to subject company for which Research Team have expressed their views.

V. Regional Disclosures (outside India)

This report is not directed or intended for distribution to or use by any person or entity resident in a state, country or any jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Sauda Dekho & its group entities to registration or licensing requirements within such jurisdictions. 

VI. DISCLAIMER AS TO REPORTS/ PUBLICATIONS/ BLOGS

1.  The registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

2.  This report is intended for distribution to Retail Investors.

3.  The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent from the compliance officer. 

4.  This report and information herein is solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. 

5.  Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. 

6.  The securities discussed and opinions expressed in this report may not be suitable for all traders/ investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. 

7.  This may not be taken in substitution for the exercise of independent judgment by any recipient. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. 

8.  The investment discussed or views expressed may not be suitable for all investors. Certain transactions -including those involving futures, options, another derivative products as well as non-investment grade securities - involve substantial risk and are not suitable for all investors.

9.  No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. 

10.  The Disclosures of Interest Statement incorporated in this document is provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. This information is subject to change without any prior notice. 

11.  Sauda Dekho reserves the right to make modifications and alternations to this statement as may be required from time to time without any prior approval. 

12.  Sauda Dekho and/or its associates and/or any Research Analyst (including their relatives) may not/ or have effected an own account transaction in, or deal as principal or agent in or for the securities mentioned in this document. They may perform or seek to perform investment banking or other services for, or solicit investment banking or other business from, any company referred to in this report. 

13.  Each of these entities functions as a separate, distinct and independent of each other. The recipient should take this into account before interpreting the document. This report has been prepared on the basis of information that is already available in publicly accessible media or developed through analysis of Sauda Dekho. 

14.  The views expressed are those of the analyst, and the Sauda Dekho may or may not subscribe to all the views expressed therein. This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for any purpose. 

15.  This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Sauda Dekho to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. 

16.  Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. Neither the Firm, not its directors, employees, agents or representatives shall be liable for any damages whether direct or indirect, incidental, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. 

17.  The person accessing this information specifically agrees to exempt Sauda Dekho or any of its affiliates or employees from, any and all responsibility/liability arising from such misuse and agrees not to hold Sauda Dekho or any of its affiliates or employees or partners responsible for any such misuse and further agrees to hold Sauda Dekho or any of its affiliates or employees free and harmless from all losses, costs, damages, expenses that may be suffered by the person accessing this information due to any errors and delays.

18.  These reports is meant for the clients of Sauda Dekho only.

19.  Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

20.  Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Registered Office Address: Block BB off. 18-B , Meenakshi mandir Marg, Shalimar bagh (West) New Delhi- 110088 Contact No.:011- 46024242

Correspondence Address: Block BB off. 18-B, Meenakshi mandir Marg, Shalimar bagh (West) New Delhi- 110088 Contact No.:011- 46024242

Details of Compliance Officer: 

Advocate Yash Jain

Email Id: advocateyashjain@gmail.com, Contact No.:011- 46024242

Grievance Redressal Cell:

Advocate Yash Jain 

Email Id: advocateyashjain@gmail.com, Contact No.:011- 46024242

Clients/ Customers/ Information seekers  having any query/feedback/ clarification may write to saudadekho@gmail.com. In case of grievances for any of the services rendered by Sauda Dekho Research and Investment Advisors write to saudadekho@gmail.com or compliance officer advocateyashjain@gmail.com