Refund Policy | Navkar Research

Last updated: June 2026

Navkar Research is committed to providing high-quality research services with professionalism, transparency, integrity, and regulatory compliance, in accordance with applicable SEBI regulations, ethical business practices, and investor-protection principles.

If a client is dissatisfied due to any genuine concern or unforeseen circumstance, the client may contact our support team for clarification, grievance redressal, or refund-related queries.

Refund & cancellation policy

Refunds and cancellations shall be processed only on a pro-rata basis and in accordance with applicable SEBI regulations, internal compliance policies, and the nature and duration of the subscribed service.
Research reports, recommendations, model portfolios, and related services are provided on a best-effort basis and do not carry any assurance or guarantee of profit, return, or investment outcome.

Refund requests shall not be considered on the basis of:

Market fluctuations;
Trading losses;
Investment losses;
Dissatisfaction arising from market performance;
Losses incurred based on research recommendations.

Client responsibilities

Before subscribing to any research service, clients are advised to:

Carefully review all information relating to the services offered.
Read and understand all disclosures, policies, and regulatory documents available on the official website.
Understand that investments in securities markets are subject to market risks, and losses incurred based on research reports or recommendations cannot be claimed under any circumstances.
Ensure that all investment decisions are taken independently after understanding the associated risks.

SEBI fee-limit guidelines

Fees charged to Individual and Hindu Undivided Family (HUF) clients shall not exceed the limits prescribed by SEBI and/or RAASB from time to time. As per current SEBI guidelines, the maximum fee chargeable is ₹1,51,000/- per annum per family for all research services combined, excluding statutory charges and taxes. These limits shall not apply to accredited investors and non-individual clients.

Pro-rata refund policy

Due to the digital and consumable nature of research services, fees for services already availed by the client shall not be refundable.
Complaints or dissatisfaction regarding the quality of research services during the subscribed period shall not entitle the client to any refund or compensation for the utilised period.
If a client requests cancellation of the subscription, the refund shall be processed only for the unexpired and unused portion of the subscription period.

Refunds shall be calculated on a pro-rata basis after deducting:

Charges for services already availed;
Applicable taxes;
Administrative and processing charges;
Payment gateway charges, where applicable.

Refunds shall not be provided for the period during which services have already been rendered or utilised.

Refund calculation

Pro-rata refund formula

Refund Amount = (Unused Subscription Period ÷ Total Subscription Period) × Total Amount Paid

Illustration: For an annual subscription fee of ₹60,000/- cancelled after completion of 4 months, the unused period is 8 months.

Refund Amount = (8 ÷ 12) × ₹60,000/- = ₹40,000/-

Note: Payment gateway charges, taxes, and applicable administrative deductions, if any, shall be non-refundable. Clients are advised to make payments through valid banking channels or verified UPI methods only.

Disclaimer

If a client has any objection regarding the fee structure, service scope, or applicable policies, the client is advised to seek clarification before activation or commencement of services. Once services are activated, rendered, delivered, or utilised, refund requests for the utilised period shall not be entertained.

Support & grievance contact

Research Analyst: Rachit Jain
SEBI Registration No.: INH000022738
Brand Name: Navkar Research
Email: ra.rachitjain@gmail.com
Phone: +91 99886 28648

Our support team shall make reasonable efforts to address concerns in a fair, transparent, and professional manner.

Investors are strongly advised to carefully read all regulatory disclosures, policies, and compliance-related documents available on our official website before availing any research services. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.

Navkar Research — SEBI Registered Research Analyst (Reg. No. INH000022738, BSE Enlistment No. 6756). For any clarification regarding this document, please contact us.