Invest with a calm mind and a clear process.

Annexure D to the SEBI Master Circular for Research Analysts No. HO/38/12/11(1)2026-MIRSD-POD/I/4360/2026 dated February 06, 2026

A. Vision and Mission Statements for investors

• Vision: Invest with knowledge & safety.
• Mission: Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

B. Details of business transacted by the Research Analyst with respect to the investors

• To publish research report based on the research activities of the RA
• To provide an independent unbiased view on securities.
• To offer unbiased recommendation, disclosing the financial interests in recommended securities.
• To provide research recommendation, based on analysis of publicly available information and known observations.
• To conduct audit annually
• To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.
• To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to the research services has taken place.

C. Details of services provided to investors (No Indicative Timelines)

• Onboarding of Clients
  • Sharing of terms and conditions of research services
  • Completing KYC of fee paying clients
• Disclosure to Clients:
  • To disclose, information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any
  • To disclose the extent of use of Artificial Intelligence tools in providing research services
  • To disclose, while distributing a third party research report, any material conflict of interest of such third party research provider or provide web address that directs a recipient to the relevant disclosures
  • To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst.
• To distribute research reports and recommendations to the clients without discrimination.
• To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
• To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
• To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines
• To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services
• To treat all clients with honesty and integrity
• To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.

D. Details of grievance redressal mechanism and how to access it

1. Investor can lodge complaint/grievance against Research Analyst in the following ways:

Mode of filing the complaint with research analyst

In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance.

Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)

i. SCORES 2.0 (a web based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in time-bound manner) (https://scores.sebi.gov.in (opens in a new tab))

• Two level review for complaint/grievance against Research Analyst:
  • First review done by designated body (RAASB)
  • Second review done by SEBI

ii. Email to designated email ID of RAASB

2. If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform (https://smartodr.in (opens in a new tab)) for its resolution through online conciliation or arbitration.

With regard to physical complaints, investors may send their complaints to: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051.

E. Rights of investors

• Right to Privacy and Confidentiality
• Right to Transparent Practices
• Right to fair and Equitable Treatment
• Right to Adequate Information
• Right to Initial and Continuing Disclosure
  • Right to receive information about all the statutory and regulatory disclosures
• Right to Fair & True Advertisement
• Right to Awareness about Service Parameters and Turnaround Times
  • Right to be informed of the timelines for each service
• Right to be Heard and Satisfactory Grievance Redressal
  • Right to have timely redressal
• Right to Exit from Financial product or service in accordance with the terms and conditions agreed with the research analyst
• Right to receive clear guidance and caution notice when dealing in Complex and High-Risk Financial Products and Services
• Additional Rights to vulnerable consumers
  • Right to get access to services in a suitable manner even if differently abled
• Right to provide feedback on the financial products and services used
• Right against coercive, unfair, and one-sided clauses in financial agreements

F. Expectations from the investors (Responsibilities of investors)

Do's

i. Always deal with SEBI registered Research Analyst.

ii. Ensure that the Research Analyst has a valid registration certificate.

iii. Check for SEBI registration number. Please refer to the list of all SEBI registered Research Analyst which is available on SEBI website in the following link: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14 (opens in a new tab)

iv. Always pay attention towards disclosures made in the research reports before investing.

v. Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if research analyst has opted for the mechanism. (Applicable for fee paying clients only)

vi. Before buying/ selling securities or applying in public offer, check for the research recommendation provided by your Research Analyst.

vii. Ask all relevant questions and clear your doubts with your Research Analyst before acting on recommendation.

viii. Seek clarifications and guidance on research recommendations from your Research Analyst, especially if it involves complex and high risk financial products and services.

ix. Always be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed between you and your Research Analyst.

x. Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.

xi. Always be aware that you will not be bound by any clause, prescribed by the research analyst, which is contravening any regulatory provisions.

xii. Inform SEBI about Research Analyst offering assured or guaranteed returns.

Don'ts

i. Do not provide funds for investment to the Research Analyst.

ii. Don't fall prey to luring advertisements or market rumors.

iii. Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.

iv. Do not share login credential and password of your trading, demat or bank accounts with the Research Analyst.

Disclosures under Regulation 19 of the SEBI (Research Analysts) Regulations, 2014 (as amended up to November 25, 2025)

1. About the Research Analyst

Mr. Arun Rajashekhar Kalburgi is registered with the Securities and Exchange Board of India (SEBI) as an Individual Research Analyst vide Registration No. INH000029087 dated July 20, 2026, and is enlisted with BSE Limited (Research Analyst Administration and Supervisory Body - RAASB) under Enlistment No. 7410.

Mr. Arun Rajashekhar Kalburgi provides research services as a sole proprietor under the brand name Investment Yoga. Investment Yoga is a brand name only and is not a separate company or legal entity.

Registered office: No. 49, Netaji Colony, Heggeri Road, Hubli, Hubballi-Dharwad, Karnataka - 580024.

2. Qualification and Experience

Mr. Arun Rajashekhar Kalburgi is certified under the NISM-Series-XV: Research Analyst Certification Examination.

3. Business Activity

The Research Analyst provides research services on listed Indian equities and equity derivatives, based on fundamental and technical analysis. Research services cover Equity (Cash), Equity Futures & Options and model portfolios and include research reports, buy/sell/hold recommendations with price targets and stop-loss levels, trading calls in equity derivatives, model portfolios for long-term investing, and investor education. Research is disseminated to subscribed clients through E-mail and WhatsApp.

The Research Analyst does not provide distribution services. In terms of Regulation 26C of the RA Regulations, no member of the Research Analyst's family provides distribution services to a client who receives research services from the Research Analyst.

4. Disciplinary History

No penalties or directions have been issued by SEBI under the SEBI Act or Regulations made thereunder, and there are no pending material litigations or legal proceedings, findings of inspections or investigations against the Research Analyst.

5. Use of Artificial Intelligence Tools

The Research Analyst does not presently use Artificial Intelligence (AI) tools in preparing research reports or recommendations. Clients will be informed before any such tool is adopted. In terms of Regulation 24(7) of the RA Regulations, the Research Analyst remains solely responsible for the security, confidentiality and integrity of client data and for any research service based on the output of such tools.

6. Terms and Conditions on which Research is Issued

The Research Analyst has exercised due diligence in checking the correctness and authenticity of the information used in research reports. Research is based on information believed to be reliable and on the Research Analyst's own analysis. Research is issued only to clients who have accepted the Terms and Conditions of Research Services, including the Most Important Terms and Conditions (MITC).

7. Ownership, Financial Interest and Conflict of Interest

Unless specifically disclosed in a particular research report or public appearance, the Research Analyst, associates and relatives:

• do not have any financial interest in the subject company;
• do not have actual/beneficial ownership of one per cent or more of the securities of the subject company at the end of the month immediately preceding the date of publication of the research report or the public appearance;
• do not have any other material conflict of interest at the time of publication of the research report or the public appearance.

8. Compensation and Other Relationships (past twelve months)

The Research Analyst and associates:

• have not received any compensation from the subject company;
• have not managed or co-managed a public offering of securities of the subject company;
• have not received compensation for investment banking, merchant banking or brokerage services from the subject company;
• have not received compensation for any other products or services from the subject company;
• have not received any compensation or other benefits from the subject company or any third party in connection with the research report;
• have not served as an officer, director or employee of the subject company, and have not been engaged in market-making activity for the subject company.

Any exception to the above will be disclosed in the relevant research report.

9. Other Disclosures

• The Research Analyst is not affiliated with any other intermediary and does not receive any brokerage or commission from any third party.
• The Research Analyst does not recommend any stock broker or other intermediary and does not receive any consideration from any intermediary.
• Research recommendations are distributed to all eligible clients at the same time and without discrimination.
• Personal trading by the Research Analyst and associates is governed by the Personal Trading Policy, which prohibits dealing in a recommended or followed security within thirty days before and five days after publication of a research report (Regulation 16).

10. Standard Warning and Disclaimer

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

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

As per Regulation 2 of the SEBI (Research Analysts) Regulations, 2014 (as amended up to November 25, 2025)

Research analyst - Regulation 2(1)(u)

"Research analyst" means a person who, for consideration, is engaged in the business of providing research services and includes a part-time research analyst.

Research services - Regulation 2(1)(wa)

Research services means the following services provided by a research analyst:

i. preparation or publication of the research report or content of the research report; or

ii. providing or issuing research report or research analysis; or

iii. making 'buy/sell/hold' recommendation; or

iv. giving price target or stop loss target; or

v. offering an opinion concerning public offer; or

vi. recommending model portfolio; or

vii. providing trading calls; or

viii. any other service of similar nature or character,

with respect to securities that are listed or proposed to be listed in a stock exchange, whether or not any such person has the job title of 'research analyst', to the clients or other persons or group of persons or general public.

Trading calls - Regulation 2(1)(zc)

"Trading calls" means intraday, ultra-short duration, non-delivery based (other than hedging) recommendation or any recommendation related to securities that are not personalized or investor specific.

Consideration - Regulation 2(1)(fa)

"Consideration" means any form of economic benefit including non-cash benefit, received or receivable, directly or indirectly, in any form whether from client or otherwise for providing research services.

Family - Regulations 2(1)(fb) and 2(1)(fc)

• Family of an individual research analyst includes the individual research analyst, spouse, children and parents.
• Family of client includes the individual client, dependent spouse, dependent children and dependent parents.

Securities covered

Research is provided on "securities" as defined in section 2(h) of the Securities Contracts (Regulation) Act, 1956, which include shares, scrips, stocks, bonds, debentures and other marketable securities; derivatives; units of collective investment schemes and mutual funds; security receipts; Government securities; other instruments declared as securities by the Central Government; and rights or interests in securities.

Services offered by Investment Yoga

Arun Rajashekhar Kalburgi provides research services on listed Indian equities and equity derivatives, based on fundamental and technical analysis, covering Equity (Cash), Equity Futures & Options and model portfolios. Services include research reports, buy/sell/hold recommendations with price targets and stop-loss levels, trading calls in equity derivatives, model portfolios for long-term investing, and investor education.

Model portfolios are issued through research reports in accordance with Annexure A of the Master Circular (Guidelines for recommendation of model portfolio).

What a Research Analyst does NOT do

• Execute trades or operate client trading, demat or bank accounts
• Accept funds or securities from clients for investment
• Offer assured, guaranteed or fixed returns
• Provide distribution services (Regulation 26C)

Third Schedule read with Regulation 24(2) of the SEBI (Research Analysts) Regulations, 2014 (as amended up to November 25, 2025)

Arun Rajashekhar Kalburgi (brand name: Investment Yoga), SEBI Registered Individual Research Analyst (Reg. No. INH000029087 dated July 20, 2026), shall abide by the following Code of Conduct at all times.

1. Honesty and Good Faith

The Research Analyst shall act honestly and in good faith.

2. Diligence

The Research Analyst shall act with due skill, care and diligence and shall ensure that the research report is prepared after thorough analysis.

3. Conflict of Interest

The Research Analyst shall effectively address conflict of interest which may affect the impartiality of research analysis and research report and shall make appropriate disclosures to address the same.

4. Insider Trading or Front Running

The Research Analyst and employees, if any, shall not engage in insider trading or front running of the Research Analyst's own research report.

5. Confidentiality

The Research Analyst and employees, if any, shall maintain confidentiality of the report till the report is made public.

6. Professional Standard

The Research Analyst and employees, if any, engaged in research analysis shall observe high professional standard while preparing research reports.

7. Compliance

The Research Analyst shall comply with all regulatory requirements applicable to the conduct of the business activities.

8. Responsibility of Senior Management

As proprietor, the Research Analyst bears primary responsibility for ensuring the maintenance of appropriate standards of conduct and adherence to proper procedures.

Adoption

Adopted on 20 July 2026 and reviewed annually.

The Research Analyst is committed to prompt, fair and transparent redressal of every grievance. Clients and prospective clients may use the following steps.

Step 1 - Contact the Research Analyst

Write to or call Arun Rajashekhar Kalburgi (Grievance and Compliance Officer):

• E-mail: ca.arunkalburgi@gmail.com
• Phone: +91 90362 82715 (Monday to Friday, 10:00 AM to 6:00 PM (except public holidays))
• Address: No. 49, Netaji Colony, Heggeri Road, Hubli, Hubballi-Dharwad, Karnataka - 580024

Please mention your name, registered mobile/e-mail, plan subscribed and details of the grievance. Every grievance is acknowledged, recorded in the complaints register and resolved within 7 (seven) business working days, and in any case not later than 21 (twenty-one) calendar days from receipt, as required under Regulation 26B of the RA Regulations.

Step 2 - SEBI SCORES 2.0

If the grievance is not resolved within the above timeline or you are not satisfied with the resolution, lodge a complaint on SEBI's Complaints Redress System: https://scores.sebi.gov.in (opens in a new tab) (also available as the SEBI SCORES mobile app). Complaints against Research Analysts are reviewed at two levels:

• First review by the designated body - RAASB (BSE Limited)
• Second review by SEBI

Step 3 - Online Dispute Resolution (SMART ODR)

If you are still not satisfied, you may initiate online conciliation and/or arbitration on the SMART ODR portal: https://smartodr.in (opens in a new tab).

Physical complaints to SEBI

Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. SEBI toll-free helpline: 1800 22 7575 / 1800 266 7575.

Complaint data

Data on complaints received and resolved is published on the website by the 7th of every month in the format prescribed by SEBI (Annexure E of the Master Circular).

The details below help complainants approach the Research Analyst before filing a complaint with SEBI. Grievances are resolved within 7 (seven) business working days, and in any case not later than 21 (twenty-one) calendar days from receipt.

If the grievance is not resolved

1. SEBI SCORES 2.0: https://scores.sebi.gov.in (opens in a new tab) - first review by RAASB (BSE Limited), second review by SEBI.

2. SMART ODR: https://smartodr.in (opens in a new tab) - online conciliation and arbitration.

3. Physical complaints: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051.

Format as per Annexure E of the SEBI Master Circular for Research Analysts dated February 06, 2026. Updated by the 7th of every month.

A. Data for the month ending 31 August 2026

Number of complaints received during the month against the RA due to impersonation by some other entity: 0

* Inclusive of complaints of previous months resolved in the current month. # Inclusive of complaints pending as on the last day of the month. ^ Average resolution time is the sum total of time taken to resolve each complaint, in days, in the current month divided by total number of complaints resolved in the current month.

B. Trend of monthly disposal of complaints

C. Trend of annual disposal of complaints

Registered with SEBI on 20 July 2026. Years before registration are not applicable.

Regulation 25(3) of the SEBI (Research Analysts) Regulations, 2014 and Para 1.14 of the Master Circular dated February 06, 2026.

The Research Analyst conducts an annual audit of compliance with the RA Regulations through a member of ICAI, ICSI or ICMAI. The audit is completed within six months from the end of each financial year and submitted to RAASB (BSE) within one month of the audit report, not later than 31 October. The status, and any adverse findings with the action taken, are published here, and the audit report is provided to clients.

Arun Rajashekhar Kalburgi (brand name: Investment Yoga) is registered with SEBI as an Individual Research Analyst vide Registration No. INH000029087 dated July 20, 2026 (BSE Enlistment No. 7410), and provides research services to clients under that registration. By accessing this website or any research service, you confirm that you have read and understood this disclaimer.

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

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

Nature of the service

1. The Research Analyst provides research services only. The Research Analyst does not provide investment advice, portfolio management, distribution services or execution of trades, and never handles client funds or securities.

2. Recommendations are not personalised to any individual's financial situation or risk profile. Before investing, consider your own financial condition, objectives and risk appetite, and consult a SEBI-registered Investment Adviser if you need personalised advice.

3. Investments in securities are subject to market risks, including loss of capital. Derivatives (futures and options) are complex, leveraged, high-risk products and may result in losses exceeding the amount invested.

4. No assurance, guarantee or promise of returns, profits, accuracy or target achievement is given. Any assured/guaranteed/fixed-return scheme is prohibited by law and is never offered.

Research and information

5. Research is prepared with due care from sources believed to be reliable; however, the completeness or timeliness of third-party data cannot be warranted. Opinions reflect the Research Analyst's judgement on the date of the report and may change without notice.

6. The Research Analyst, associates or relatives may hold positions in securities covered by research, subject to the Personal Trading Policy and the disclosures made in each report.

7. Any view shared with a client on a specific existing position is research opinion only and not personalised investment advice.

8. Simulated or back-tested results do not represent actual trading and are not indicative of future results.

Confidentiality of research

9. Research reports and recommendations are meant only for the subscribed client. Forwarding, copying, publishing or sharing them with any other person, in any form or medium, is not permitted and may lead to termination of services and legal action.

Social media and public content

10. Content posted on social media, YouTube, Telegram or other public channels is for education and illustration only and is not a research recommendation. The securities quoted are for illustration only and are not recommendatory.

Technology

11. Research is delivered electronically through E-mail and WhatsApp. Delivery may be delayed or fail because of network, device or platform issues beyond the Research Analyst's control. Please report non-receipt promptly through the grievance process.

Beware of fraud

12. The Research Analyst will never ask for your trading, demat or bank login credentials or OTPs, will never ask you to transfer funds for investment, and accepts fees only through the modes stated in the Terms and Conditions. Fees are never collected in cash or into a third-party account. Verify the registration at https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14 (opens in a new tab).

Jurisdiction

13. This website and the research services are governed by the laws of India, subject to the exclusive jurisdiction of the courts at Hubballi-Dharwad, Karnataka, without prejudice to the investor's right to use SCORES and the SMART ODR mechanism.

Futures and options (F&O) research is a high-risk service. Please read this before acting on any derivatives recommendation.

Risk disclosures on derivatives

• 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
• On an average, loss makers registered net trading loss close to ₹ 50,000.
• Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
• Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Source: SEBI study dated January 25, 2023 on "Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment", wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22. SEBI publishes updated studies from time to time on sebi.gov.in (opens in a new tab).

What this means for you

• Derivatives are leveraged. A small price move can cause a loss larger than the margin you deploy.
• Every F&O recommendation carries an entry, target, stop-loss and time frame. Decide your own position size and never trade with money you cannot afford to lose.
• Recommendations are research, not personalised advice, and carry no assurance of returns.
• Options can expire worthless. Intraday and expiry-day trades carry the highest risk.

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

To be pinned / placed in the bio or description of every social media handle, channel and video

Short version (profile bio / video description)

Investment Yoga | Arun Rajashekhar Kalburgi | SEBI Registered Research Analyst | Reg. No. INH000029087 | BSE Enlistment No. 7410 | this website | Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Full disclaimer

1. Arun Rajashekhar Kalburgi (brand name: Investment Yoga) is registered with SEBI as an Individual Research Analyst vide Registration No. INH000029087 dated July 20, 2026.

2. Content on this handle/channel is for educational and informational purposes only and is not a research recommendation, investment advice or an offer to buy or sell any security.

3. The securities quoted are for illustration only and are not recommendatory.

4. Research recommendations are provided only to subscribed clients who have accepted the Terms and Conditions (including MITC), through E-mail and WhatsApp. No recommendation is given through public comments, groups or direct messages.

5. No assured, guaranteed or fixed returns are offered. Past performance is not shown unless verified as permitted by SEBI.

6. Beware of impersonation. The only official contact details are those on this website. The Research Analyst never asks for money for investment, trading/demat/bank passwords or OTPs.

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

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

Protect yourself from fake profiles, cloned websites and scam "tips"

Arun Rajashekhar Kalburgi (SEBI Reg. No. INH000029087) cautions investors against fraudsters who impersonate us - using our name, photograph, logo or SEBI registration number - on fake websites, apps, social media profiles, Telegram/WhatsApp groups and phone calls, often promising assured or guaranteed returns.

Please remember

• We never promise assured, guaranteed or fixed returns, "jackpot" or "sure-shot" calls. Any such promise is a scam and is prohibited by law.
• We never ask for your trading, demat or bank login credentials, passwords, PINs or OTPs, and we never trade on your behalf.
• We never ask you to transfer money for investment. Fees are accepted only through banking channels into our own account, or through CeFCoM - never to a personal wallet or third-party account.
• Research is sent only to subscribed clients through E-mail and WhatsApp.

Our only official channels

Any other website, number, group or profile is not associated with us. Verify our registration on the SEBI website: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14 (opens in a new tab)

If you suspect impersonation or fraud

1. Do not make any payment or share any personal or account information.

2. Inform us immediately at ca.arunkalburgi@gmail.com / +91 90362 82715.

3. Lodge a complaint on SEBI SCORES (https://scores.sebi.gov.in (opens in a new tab)) and, for cyber fraud, on the National Cyber Crime Reporting Portal (https://cybercrime.gov.in (opens in a new tab)) or helpline 1930.

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

Client agreement containing the minimum mandatory terms (Annexure B) and MITC under the SEBI Master Circular for Research Analysts No. HO/38/12/11(1)2026-MIRSD-POD/I/4360/2026 dated February 06, 2026

The client is requested to read the terms and conditions of the research services offered, including rights and obligations. No research service shall be rendered and no fee shall be charged until the client's consent on these terms is received.

This Agreement is made between Arun Rajashekhar Kalburgi (brand name: Investment Yoga), SEBI Registered Individual Research Analyst, Registration No. INH000029087 dated July 20, 2026, BSE Enlistment No. 7410, having office at No. 49, Netaji Colony, Heggeri Road, Hubli, Hubballi-Dharwad, Karnataka - 580024 (the "Research Analyst" or "RA"), and the person subscribing to the research services whose details are recorded in the onboarding form (the "Client"). The RA and the Client are together the "Parties".

1. Availing the research services

By accepting delivery of the research service, the Client confirms that the Client has elected to subscribe to the research service of the RA at the Client's sole discretion. The RA confirms that research services shall be rendered in accordance with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014 (as amended up to November 25, 2025).

2. Obligations on RA

The RA and the Client shall be bound by the SEBI Act and all applicable rules and regulations of SEBI, including the RA Regulations and relevant notifications of the Government, as may be in force from time to time.

3. Client information and KYC

The Client shall furnish all such details in full as may be required by the RA in its standard form with supporting details, if required, as may be made mandatory by RAASB/SEBI from time to time. The RA shall collect, store, upload and check KYC records of the Client with a KYC Registration Agency (KRA) as specified by SEBI from time to time.

4. Standard terms of service

The consent of the Client is taken on the following understanding:

"I/We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure. I/We are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report. I/We understand that - (i) Any investment made based on the recommendations in the research report are subject to market risk. (ii) Recommendations in the research report do not provide any assurance of returns. (iii) There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report."

5. Consideration and mode of payment

1. The Client shall pay the RA the agreed fees for the services rendered and statutory charges (GST), as applicable, through the specified modes: online bank transfer (NEFT/RTGS/IMPS) and cheque.

2. For individual and HUF clients (other than accredited investors), the fee shall not exceed ₹1,51,000 (Rupees One Lakh Fifty-One Thousand only) per annum per family of client for all research services of the RA. The limit excludes statutory charges.

3. If agreed by the Client, the RA may charge fees in advance. Such advance shall not exceed fees for a period of one year.

4. Cash payment is not allowed. Fees are accepted only into the RA's own bank account and never through a third party.

5. Optionally, the Client may pay fees through the Centralised Fee Collection Mechanism for IA and RA (CeFCoM) administered by BSE Limited.

6. Risk factors

Investments in securities are subject to market risks, including loss of principal. Prices may fluctuate due to market conditions, economic and political developments, interest rates, liquidity and regulatory changes. Derivatives are leveraged and high-risk; losses may exceed the margin deployed. Past performance is not indicative of future results. Research is not tailored to the Client's personal financial situation or risk profile.

7. Conflict of interest

The RA shall adhere to the applicable regulations, circulars and directions of SEBI in relation to disclosure and mitigation of any actual or potential conflict of interest. The mandatory disclosures are set out in Annexure A and in each research report. The RA will promptly inform the Client of any conflict of interest that may affect the services.

8. Termination of service and refund of fees

1. The RA may suspend or terminate research services to the Client on account of suspension/cancellation of the RA's registration by SEBI and shall refund the residual amount to the Client.

2. In case of suspension of the certificate of registration of the RA for more than 60 (sixty) days or cancellation of the registration, the RA shall refund the fees on a pro-rata basis for the period from the effective date of cancellation/suspension to the end of the subscription period.

3. Either Party may terminate the services by written notice. On premature termination by either Party, the Client shall be refunded proportionate fees for the unexpired period. No breakage fee shall be charged.

9. Grievance redressal and dispute resolution

1. Any grievance related to (i) non-receipt of a research report, (ii) missing pages or inability to download the entire report, or (iii) any other deficiency in the research services shall be escalated promptly by the Client to: Arun Rajashekhar Kalburgi, Email: ca.arunkalburgi@gmail.com, Phone: +91 90362 82715.

2. The RA shall resolve grievances within 7 (seven) business working days or such timelines as may be specified by SEBI, and in any case not later than 21 (twenty-one) calendar days from the date of receipt (Regulation 26B).

3. If not satisfied, the Client may lodge the grievance on SEBI SCORES (https://scores.sebi.gov.in (opens in a new tab)) and thereafter initiate online conciliation/arbitration on SMART ODR (https://smartodr.in (opens in a new tab)).

4. Any dispute between the RA and the Client may be resolved through arbitration or any other mode or mechanism specified by SEBI from time to time.

10. Additional (voluntary) clauses

The following clauses are voluntary and do not contravene any SEBI rule, regulation or circular. Any change to them shall be preceded by a notice of 15 days to the Client.

1. Confidentiality of research: Research is for the Client's own use and shall not be forwarded, published or shared with any other person.

2. Indemnity: The Client shall indemnify the RA against lawful claims and costs arising from the Client's breach of this Agreement or misuse of the research. This clause does not limit the Client's statutory rights or SEBI's grievance mechanisms.

3. Intellectual property: All research, text and data provided remain the intellectual property of the RA.

4. Force majeure: The RA shall not be liable for delay or failure in delivery caused by events beyond reasonable control, provided the Client is informed and services resume as soon as practicable.

5. Severability: If any provision is held invalid, the remaining provisions shall continue in force.

6. Governing law: This Agreement is governed by the laws of India, subject to the jurisdiction of the courts at Hubballi-Dharwad, Karnataka, without prejudice to SCORES and SMART ODR.

11. Mandatory notice

Clients are requested to go through the Do's and Don'ts while dealing with RA, contained in the Investor Charter specified in the SEBI Master Circular for Research Analysts No. HO/38/12/11(1)2026-MIRSD-POD/I/4360/2026 dated February 06, 2026, or as may be specified by SEBI from time to time.

12. Most Important Terms and Conditions (MITC)

The RA discloses the MITC, standardised by the Industry Standards Forum in consultation with SEBI and RAASB, at Annexure B.

13. Optional Centralised Fee Collection Mechanism

The Client may pay fees through CeFCoM administered by BSE Limited, which allows the Client to verify that fees are paid only to a registered RA.

ANNEXURE A - Disclosures

• About the RA: Mr. Arun Rajashekhar Kalburgi, registered with SEBI as an Individual Research Analyst, Reg. No. INH000029087 dated July 20, 2026; office: No. 49, Netaji Colony, Heggeri Road, Hubli, Hubballi-Dharwad, Karnataka - 580024.
• Qualification: certified under the NISM-Series-XV: Research Analyst Certification Examination.
• Business activity: research services on listed Indian equities and equity derivatives, based on fundamental and technical analysis.
• Disciplinary history: No penalties or directions have been issued by SEBI under the SEBI Act or Regulations made thereunder, and there are no pending material litigations or legal proceedings, findings of inspections or investigations against the Research Analyst.
• Use of Artificial Intelligence: The Research Analyst does not presently use Artificial Intelligence (AI) tools in preparing research reports or recommendations. Clients will be informed before any such tool is adopted.
• Conflict of interest: Unless disclosed in a specific report, the RA, associates and relatives do not hold any financial interest, do not hold actual/beneficial ownership of 1% or more, and have no other material conflict of interest in the subject company; have not received compensation from the subject company in the past twelve months; have not managed or co-managed its public offering; and have not served as its officer, director or employee or engaged in market making in its securities.
• Distribution services: The RA does not provide distribution services, and no family member of the RA provides distribution services to the Client.
• Terms on which research is issued: Research is prepared with due diligence from sources believed to be reliable. Clients should apply their own judgement before acting on it.

ANNEXURE B - Most Important Terms and Conditions (MITC)

1. These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.

2. The fee charged by RA to the client will be subject to the maximum of amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).

a. The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.

b. The fee limit does not include statutory charges.

c. The fee limits do not apply to a non-individual client / accredited investor.

3. RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one year. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.

4. Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).

5. The RA is required to abide by the applicable regulations/ circulars/ directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.

6. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.

7. The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA's research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.

8. Any investment made based on recommendations in research reports are subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client's own judgement and assessment of the conclusions contained in the research report.

9. The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.

10. For any grievances,

• • Step 1: the client should first contact the RA using the details on its website or following contact details: Arun Rajashekhar Kalburgi, ca.arunkalburgi@gmail.com, +91 90362 82715 (see the Grievance Redressal / Escalation Matrix).
  • Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI's SCORES platform at www.scores.sebi.gov.in
  • Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in (opens in a new tab)

11. Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.

12. The RA shall never ask for the client's login credentials and OTPs for the client's Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.

As per Regulation 15A of the RA Regulations and Para 1.9 of the SEBI Master Circular for Research Analysts dated February 06, 2026

1. Fee limit

1. For clients who are individuals or Hindu Undivided Families (HUF), the Research Analyst charges a maximum of ₹1,51,000 (Rupees One Lakh Fifty-One Thousand only) per annum per family of client for all research services. The limit excludes statutory charges such as GST.

2. "Family of client" means the individual client, dependent spouse, dependent children and dependent parents (Regulation 2(1)(fc)).

3. The fee limit, advance-fee and refund provisions do not apply to non-individual clients and accredited investors, whose fees are governed by bilaterally negotiated terms.

4. The fee limit is revised by RAASB once in three years based on the Cost Inflation Index, in consultation with SEBI.

2. Plans offered

Plans and fees will be published here before any paid service begins. No fee is charged until the client has accepted the Terms and Conditions (including MITC).

3. Advance fee

Fees may be charged in advance only if agreed by the client, and the advance shall not exceed fees for a period of one year.

4. Mode of payment

Fees are accepted only through online bank transfer (NEFT/RTGS/IMPS) and cheque, into the Research Analyst's own account. Cash is not accepted. Fees are never collected through a third party.

Clients may also pay through the optional Centralised Fee Collection Mechanism (CeFCoM) administered by BSE Limited.

5. Refund policy

1. If services are terminated before the end of the subscription period, by the client or by the Research Analyst, the client is refunded proportionate fees for the unexpired period.

2. No breakage fee is charged.

3. If the Research Analyst's registration is suspended for more than 60 days or cancelled, fees are refunded on a pro-rata basis from the effective date of suspension/cancellation to the end of the subscription period.

4. Refunds are made to the account from which the fee was received, within a reasonable time from the termination request.

6. Consent first

No fee is charged and no research service is rendered until the client's consent on the Terms and Conditions (including MITC) is received.

Arun Rajashekhar Kalburgi (brand name: Investment Yoga), SEBI Registered Research Analyst (Reg. No. INH000029087) ("the Research Analyst", "we"), respects the privacy of clients and website visitors. This policy explains what personal data we collect, why, and how it is protected, in line with the Information Technology Act, 2000 and rules thereunder, the Digital Personal Data Protection Act, 2023 and rules thereunder (as and when applicable), and SEBI requirements on confidentiality of client information.

1. Data we collect

2. How we use your data

Personal data is used only to onboard you, complete KYC, deliver the research services you subscribed to, collect fees, respond to queries and grievances, meet legal and regulatory obligations (SEBI, RAASB, KRA, FIU-IND, tax authorities) and keep the website secure. We do not sell, rent or trade personal data, and we do not use it for unrelated marketing without your consent.

3. Sharing of data

Data is shared only (a) with SEBI, RAASB (BSE Limited), KRAs, FIU-IND, courts or other authorities where required by law; (b) with service providers bound by confidentiality who process data on our behalf (e.g. e-mail, hosting, payment gateway, e-sign), limited to what they need; or (c) with your specific consent.

4. Storage, security and retention

1. Reasonable security practices are followed, including access control, encrypted transmission (HTTPS) and restricted access on a need-to-know basis.

2. Records are retained for at least five years as required by Regulation 25 of the RA Regulations (longer where a dispute, investigation or SEBI direction requires) and then securely deleted.

3. Where Artificial Intelligence or cloud tools are used, the Research Analyst remains solely responsible for the security, confidentiality and integrity of client data (Regulation 24(7)).

5. Cookies

The website uses essential cookies for functioning and may use analytics cookies to understand usage. You can disable cookies in your browser; some features may then not work.

6. Your rights

You may request access to, correction or updating of your personal data, withdraw consent for optional processing, or raise a privacy concern by writing to ca.arunkalburgi@gmail.com. Withdrawal of consent does not affect data we must retain under law. Keep your contact details updated with us at all times.

7. Contact

Privacy / Grievance contact: Arun Rajashekhar Kalburgi, ca.arunkalburgi@gmail.com, +91 90362 82715, No. 49, Netaji Colony, Heggeri Road, Hubli, Hubballi-Dharwad, Karnataka - 580024.

8. Changes

This policy may be updated from time to time; the current version is always available on the website. Effective date: 20 July 2026.

These terms govern use of the website only. Research services are governed by the Terms and Conditions of Research Services (including MITC) accepted by each client.

1. Acceptance

By accessing this website ("the Website"), operated by Arun Rajashekhar Kalburgi (brand name: Investment Yoga), SEBI Registered Research Analyst (Reg. No. INH000029087), you agree to these Terms of Use. If you do not agree, please do not use the Website.

2. Licence to use content

1. Content on the Website is provided for personal, non-commercial information. You may not copy, modify, republish, frame, mirror, sell or commercially exploit any content, or remove any copyright or proprietary notice.

2. Research reports and recommendations in any client area are licensed only to the subscribed client and may not be shared (see the Disclaimer).

3. You may not attempt to decompile, scrape or disrupt the Website or its security.

3. No offer of assured returns

Nothing on the Website is an offer of assured, guaranteed or fixed returns. Public pages contain general and educational information only and are not research recommendations.

4. Accuracy and availability

The Website is updated periodically. While care is taken, the Website may contain technical or typographical errors, and availability may be interrupted for maintenance or for reasons beyond the operator's control.

5. External links

Links to third-party websites (including SEBI, BSE, SCORES and SMART ODR) are provided for convenience. The Research Analyst is not responsible for the content of third-party websites, and a link does not imply endorsement.

6. Fees and refunds

Fees, advance fees and refunds are governed by the Terms and Conditions of Research Services and the Fee Structure and Refund Policy, in accordance with the SEBI Master Circular for Research Analysts dated February 06, 2026. On premature termination, the client is refunded proportionate fees for the unexpired period and no breakage fee is charged.

7. Privacy

Personal data collected through the Website is handled as per the Privacy Policy.

8. Changes to these terms

These Terms of Use may be revised by updating this page. Any change to the voluntary clauses of the Terms and Conditions of Research Services will be notified to clients at least 15 days in advance, as required by SEBI.

9. Governing law

These Terms of Use are governed by the laws of India, subject to the exclusive jurisdiction of the courts at Hubballi-Dharwad, Karnataka, without prejudice to the investor's right to use SCORES and SMART ODR.

Para 16 of the SEBI Master Circular for Research Analysts dated February 06, 2026 (General Guidelines for dealing with Conflicts of Interest) and Regulation 24(1)

1. Purpose

This policy sets out how Arun Rajashekhar Kalburgi (brand name: Investment Yoga) identifies, avoids, manages and discloses actual or potential conflicts of interest, and the internal code governing conduct.

2. Commitments

The Research Analyst shall:

1. at all times maintain high standards of integrity in the conduct of business;

2. ensure fair treatment of clients and not discriminate amongst them;

3. ensure that personal interest does not, at any time, conflict with the duty to clients, and that the client's interest always takes primacy in research recommendations;

4. make appropriate disclosure to clients of possible sources or potential areas of conflict of interest which would impair the ability to render fair, objective and unbiased services;

5. reduce opportunities for conflict through prescriptive measures such as information barriers;

6. place appropriate restrictions on transactions in securities while handling a mandate of an issuer or client in respect of such security;

7. not deal in securities while in possession of material non-published information;

8. not communicate material non-published information while dealing in securities on behalf of others;

9. not in any way contribute to manipulation of the demand for or supply of securities in the market or influence prices of securities;

10. not have an incentive structure that encourages sale of products not suiting the risk profile of clients;

11. not share information received from clients, or obtained as a result of dealings with them, for personal interest.

3. Specific safeguards for an individual RA

• Arm's-length relationship: research activity is kept separate from all other activities (Regulation 24(1)).
• No distribution: the Research Analyst does not provide distribution services, and family members do not provide distribution services to research clients (Regulation 26C). Clients give a declaration at onboarding.
• Personal trading: governed by the Personal Trading Policy (Regulation 16).
• No favourable-review promises: no promise or assurance of favourable review is given to any company, sector or group as consideration for business or compensation (Regulation 18(8)).
• Association: no direct or indirect association with any person who gives securities advice/recommendations without SEBI registration or makes unpermitted return/performance claims (Para 21 of the Master Circular).
• Third-party research: reviewed for untrue or misleading statements, and the provider's material conflicts are disclosed (Regulation 22).

4. Disclosure

Conflicts are disclosed in the Standard Disclosures, in each research report and in every public appearance, as per Regulation 19.

5. Review

This policy is reviewed at least annually and whenever regulations change.

Under the Prevention of Money Laundering Act, 2002, the PML (Maintenance of Records) Rules, 2005 and the SEBI Master Circular No. SEBI/HO/MIRSD/MIRSD-SEC-FATF/P/CIR/2024/78 dated June 06, 2024 on Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT)

1. Introduction and applicability

This policy is adopted by Arun Rajashekhar Kalburgi (brand name: Investment Yoga), SEBI Registered Individual Research Analyst (Reg. No. INH000029087), to prevent the research business from being used, intentionally or unintentionally, for money laundering or terrorist financing. It is designed for the nature of a Research Analyst's business:

• The Research Analyst provides research services only. It does not hold, manage or handle client funds or securities and does not execute transactions for clients.
• The only money received from clients is the research fee, which is accepted only through banking channels into the Research Analyst's own account (or CeFCoM). Cash and third-party payments are not accepted.
• Clients are onboarded through signed Terms and Conditions (including MITC) and KYC through a SEBI-registered KYC Registration Agency (KRA).

2. Objectives

1. Prevent the business from being used for money laundering (ML) or terrorist financing (TF).

2. Apply Client Due Diligence (CDD) before providing services, and Enhanced Due Diligence (EDD) where risk is higher.

3. Screen clients against sanctions lists and act on freezing orders.

4. Recognise, record and report suspicious transactions to FIU-IND.

5. Maintain records as required under the PMLA and the RA Regulations.

3. Principal Officer and Designated Director

As an individual Research Analyst, the proprietor is both the Principal Officer and the Designated Director under the PML Rules, and is the central point for identifying, assessing and reporting suspicious transactions.

The Principal Officer shall register on FIU-IND's reporting portal (https://fiuindia.gov.in (opens in a new tab)), keep the registration details current, have access at all times to client identification data and CDD records, respond promptly to requests from SEBI, RAASB, FIU-IND and other authorities, and keep staff (if any) updated on AML/CFT requirements.

4. Client acceptance policy

1. No client is onboarded in a fictitious or anonymous name, or under a benami name.

2. No client is onboarded if the fee is offered in cash or from a third-party account.

3. No client is onboarded where CDD/KYC cannot be applied, where the information provided appears non-genuine, or where the client does not cooperate in providing full and complete information.

4. No client is onboarded whose identity matches any person or entity on the United Nations Security Council sanctions lists (https://main.un.org/securitycouncil/en/sanctions/information (opens in a new tab)), the lists under Section 35 of the Unlawful Activities (Prevention) Act, 1967 (UAPA), or the lists under the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005, or who is barred by SEBI or any other authority.

5. The client's consent on Terms and Conditions (including MITC) is obtained before services begin.

5. Client Due Diligence (CDD)

1. Verify identity through PAN-based KYC with a KRA; record name, PAN, address, contact details and the service subscribed.

2. For non-individual clients, identify and verify the beneficial owner(s) as per the PML Rules and SEBI circulars.

3. Understand the purpose of the relationship and the expected use of research services.

4. Speak to the client or verify through the registered e-mail/mobile before starting services.

5. Update KYC and CDD periodically, and whenever there is a change in client circumstances or doubt about the information held.

6. Risk categorisation

Each client is placed in a Low, Medium or High ML/TF risk category, recorded in the Register of Clients, having regard to the client's location, nature of business/occupation, source of fee payment and manner of engagement. This AML risk category is separate from any categorisation of research plans.

Clients of Special Category (EDD applies): non-resident clients; high net-worth clients; trusts, charities, NGOs and organisations receiving donations; companies with close family shareholding or beneficial ownership; Politically Exposed Persons (PEPs) and their family members or close associates; clients in high-risk jurisdictions identified by FATF; non-face-to-face clients; and clients with a dubious public reputation.

EDD measures: additional documents, verification of source of fee payment, closer review of the relationship and approval by the Principal Officer before onboarding.

7. Sanctions screening and freezing orders

1. Screen every client before onboarding and re-screen the client base whenever the UN, UAPA or WMD lists are updated.

2. If any client matches a designated individual or entity: do not provide services, do not accept any fee, and immediately (and in any case within the time prescribed under the Government order under Section 51A of UAPA) inform the UAPA Nodal Officer, SEBI and FIU-IND, as set out in the SEBI AML Master Circular.

3. Keep evidence of every screening in the client file.

8. Recognising suspicious transactions

Alerts include:

• a client whose identity is difficult to verify or who will not cooperate;
• fees paid from unrelated third-party accounts, multiple accounts or overseas accounts without explanation;
• requests to pay in cash or to route fees through unusual channels;
• source of funds inconsistent with the client's apparent standing;
• a client asking the Research Analyst to handle funds, trade on their behalf or share research with unknown persons;
• a client in a high-risk jurisdiction, or linked to sanctioned persons;
• transactions abandoned when documents are requested.

9. Reporting to FIU-IND

1. Any suspicious transaction, including an attempted or abandoned transaction irrespective of amount, is recorded with the reasons and reported by the Principal Officer to FIU-IND as a Suspicious Transaction Report (STR) within 7 working days of being satisfied that it is suspicious, through FIU-IND's online reporting portal.

2. Since cash is not accepted, Cash Transaction Reports are ordinarily not applicable; any attempt to pay in cash above prescribed thresholds is treated as an alert.

3. No tipping off: the client or any other person is not informed that an STR has been or may be filed.

4. FIU-IND: Director, Financial Intelligence Unit - India (FIU-IND), 6th Floor, Tower-2, Jeevan Bharati Building, Connaught Place, New Delhi - 110001. Website: https://fiuindia.gov.in (opens in a new tab).

10. Record keeping

1. KYC, CDD and client identification records: preserved for at least five years after the business relationship has ended.

2. Records of transactions (fee receipts, refunds) and of STRs with supporting documents: preserved for at least five years from the date of the transaction; where records relate to an ongoing investigation or an STR, they are kept until the case is closed.

3. Records are kept so that individual transactions can be reconstructed and produced to SEBI, RAASB, FIU-IND or auditors when required.

11. Hiring, training and awareness

The Research Analyst keeps up to date with AML/CFT circulars through SEBI and FIU-IND updates, and educates clients on why KYC information is required.

12. Review

This policy is reviewed annually, and whenever the PMLA, the PML Rules or SEBI's AML/CFT Master Circular is amended.

Investment Yoga wants every investor to be able to read and use this website, including people who use screen readers, keyboards, magnification or voice control. This follows the Rights of Persons with Disabilities Act, 2016 and SEBI's circulars on digital accessibility for regulated entities.

What we have done

• Designed to the Web Content Accessibility Guidelines (WCAG) 2.2 Level AA.
• Every feature works with a keyboard alone, with a visible focus outline and a "Skip to main content" link.
• Text and brand colours meet AA contrast ratios; the page works when zoomed to 400% without sideways scrolling.
• Headings, landmarks, table headers and link text are structured for screen readers.
• Animations are switched off when your device asks for reduced motion.
• An accessibility toolbar (the round button at the bottom left) offers text size, read aloud, high contrast, light mode, readable font, highlighted links, extra spacing, a reading guide and more. Your choices are remembered on this device.

Known limitations

• Linked third-party sites (SEBI, SCORES, SMART ODR) are outside our control.
• PDF documents, when added, will be made accessible or offered in an accessible alternative format on request.

Feedback

If anything on this site is hard to use, please tell us and we will help and fix it: e-mail ca.arunkalburgi@gmail.com or call +91 90362 82715. We aim to respond within 5 working days.