Refund policy

Refund & Cancellation Policy (SEBI Registered Investment Adviser)

1. Introduction

This Refund & Cancellation Policy (“Policy”) outlines the terms under which refunds may be granted for services provided by Shefali Garg, a SEBI Registered Investment Adviser (Registration No: INA0000355).

This Policy is in accordance with the Securities and Exchange Board of India (SEBI) (Investment Advisers) Regulations, 2013 and subsequent circulars/guidelines.

By subscribing to our services, you agree to this Policy.

2. Nature of Services

  • Investment advisory services are professional, knowledge-based services
  • Fees are charged for advice, research, and time, not for returns
  • No guarantee of returns or profits is provided

(SEBI mandates that RIAs act in client interest without guaranteeing outcomes)

3. Refund Eligibility

Refunds may be considered only under the following conditions:

a) Non-Delivery of Service

If the subscribed service has not been delivered within the committed timeline

b) Material Deviation from Agreed Scope

If services provided are significantly different from what was agreed in writing

c) Technical / Operational Failure

If client is unable to access services due to system issues attributable to us

d) Duplicate Payment / Billing Error

Any excess payment will be refunded

e) Regulatory / Force Termination

If services are discontinued due to regulatory reasons, refund will be pro-rata for unused period

4. Cooling-Off Period 

Clients may request cancellation within 7 days of subscription

  • Applicable only if:
    • Service has not been substantially availed
    • No customized advisory has been delivered

5. Non-Refundable Cases

Refunds will NOT be provided in the following cases:

  • Dissatisfaction with investment performance or market outcomes
  • Once advisory service has been fully or partially delivered
  • After cooling-off period expires
  • Client has used/accessed reports, calls, or advice
  • Change in market conditions
  • Client’s personal financial decisions leading to losses

6. Partial / Pro-Rata Refunds

Where applicable:

  • Refunds will be calculated based on:
    • Unutilized period of service
    • Deduction for:
      • Services already delivered
      • Administrative costs

(Some RIAs follow “used period non-refundable, unused period refundable” approach)

7. Advance Fee & Refund Adjustment

  • Fees may be charged in advance as per SEBI guidelines (up to 1 year if agreed)
  • Refunds, if any, will be adjusted against:
    • Services already rendered
    • Applicable taxes and charges

8. Refund Process

To request a refund:

  • Email: info@investopediaindia.com
  • Subject: Refund Request – Client Name
  • Include:
    • Registered email ID
    • Payment proof
    • Reason for refund

Processing Timeline:

  • Review: 5–7 working days
  • Refund (if approved): 7–10 working days

9. Mode of Refund

  • Refunds will be processed only to original payment source
  • No cash refunds will be issued

10. Policy Updates

We reserve the right to modify this Policy at any time to remain compliant with SEBI regulations. Updated versions will be published on the website.

11. Important Disclaimer

  • Investment in securities markets is subject to market risks
  • Past performance is not indicative of future returns
  • Advisory fees are charged irrespective of portfolio performance