Investor Charter — Research Analyst (RA)
In accordance with SEBI guidelines, this Investor Charter details our regulatory framework, scope of research services, rights of investors, grievance redressal mechanisms, and code of conduct.
A. Vision & Mission Statements for Investors
Vision
Invest with knowledge & safety. To empower every investor with transparent, research-backed financial insight to navigate modern capital markets securely.
Mission
Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, access independent reports, and enjoy financial wellness.
B. Details of Business Transacted by Research Analyst
- To publish research reports based on rigorous fundamental and quantitative research activities.
- To provide an independent, unbiased view on securities across Indian capital markets.
- To offer unbiased recommendations while fully disclosing financial interests in recommended securities.
- To provide research recommendations strictly based on analysis of publicly available information and verifiable observations.
- To conduct mandatory annual audits of research activities to ensure strict regulatory compliance.
- To ensure that all advertisements and publications adhere strictly to the provisions of the SEBI Advertisement Code for Research Analysts.
- To maintain complete records of interactions with all clients, including prospective clients prior to onboarding.
C. Services Provided & Client Disclosures
1. Onboarding & Transparency
- Sharing terms and conditions of research services prior to service activation.
- Completing KYC (Know Your Customer) compliance for all fee-paying clients.
- Providing non-discriminatory distribution of research reports and recommendations to all active clients.
2. Mandatory Disclosures
- Disclosing all material information required for the client to make an informed decision, including business activities, disciplinary history, terms of service, and conflict of interests if any.
- Disclosing the extent of Artificial Intelligence (AI) tools utilized in research service compilation.
- Disclosing any material conflict of interest when distributing third-party research reports.
- Maintaining strict confidentiality regarding research reports prior to public release.
- Providing clear caution notices and risk disclosures when recommending complex or high-risk financial products.
D. Details of Grievance Redressal Mechanism
Level 1: Direct Resolution with Research Analyst
In case of any grievance or complaint, investors are encouraged to reach out directly to NovaRock Advisory's compliance desk. We strive to resolve all complaints immediately and no later than 21 calendar days from receipt.
Level 2: Escalation via SCORES 2.0 & RAASB
If the complaint is not redressed satisfactorily within timelines, investors may lodge a complaint on SEBI's centralized web-based portal SCORES 2.0 or escalate to the designated Research Analyst Administration and Supervisory Body (RAASB).
- First Review Level: Evaluated by the designated supervisory body (RAASB).
- Second Review Level: Final administrative review conducted directly by SEBI.
- SCORES Portal URL: https://scores.sebi.gov.in
Level 3: Online Dispute Resolution (ODR)
Investors can also initiate conciliation/arbitration proceedings through the Smart ODR Portal at https://smartodr.in for independent dispute resolution.
Data of Investor Complaints — Research Analyst
1. Data for the Month Ending — June 2026
| S.No. | Received From | Carried forward from previous month | Received during the month | Total Pending | Resolved* | Pending at the end of the month** | Average Resolution time^ (in days) | |
|---|---|---|---|---|---|---|---|---|
| Pending < 3m | Pending > 3m | |||||||
| 1 | Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Other Sources (if any) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
2. Trend of Monthly Disposal of Complaints (FY 2026–27)
| S.No. | Month | Carried forward from previous month | Received | Resolved* | Pending** |
|---|---|---|---|---|---|
| 1 | April 2026 | 0 | 0 | 0 | 0 |
| 2 | May 2026 | 0 | 0 | 0 | 0 |
| 3 | June 2026 | 0 | 0 | 0 | 0 |
3. Trend of Annual Disposal of Complaints
| S.No. | Financial Year | Carried forward from previous year | Received | Resolved* | Pending** |
|---|---|---|---|---|---|
| 1 | 2024–25 | 0 | 0 | 0 | 0 |
| 2 | 2025–26 | 0 | 0 | 0 | 0 |
| 3 | 2026–27 (YTD) | 0 | 0 | 0 | 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 total number of days taken to resolve each complaint in the month divided by total number of complaints resolved in that month.
E. Rights of Investors
- Right to Privacy & Confidentiality: Protection against unauthorized disclosure of personal and financial information.
- Right to Transparent Practices: Clear disclosures on fees, methodologies, and potential conflicts of interest.
- Right to Fair & Equitable Treatment: Equal access to published research reports without discriminatory delay.
- Right to Adequate Information: Complete details on statutory registration, credentials, and regulatory history.
- Right to Continuing Disclosure: Timely updates regarding changes in research methodologies or operational terms.
F. Guidance for Investors: Do's & Don'ts
Do's for Investors
- Always deal with SEBI-registered Research Analysts and verify registration certificates on SEBI/RAASB portals.
- Ensure all payments for research services are made through official bank channels (NEFT/RTGS/UPI/Cheque) against valid receipts.
- Read all research report disclaimers, conflict disclosures, and rationale thoroughly before making investment decisions.
- Assess your personal risk tolerance, financial goals, and liquidity requirements before acting on any research recommendation.
- Keep records of all correspondence, service agreements, and payment receipts with the Research Analyst.
Don'ts for Investors
- Do not deal with unregistered entities claiming to provide guaranteed returns or stock tips.
- Do not execute cash transactions for advisory or research services.
- Do not share confidential banking credentials, demat trading passwords, or OTPs with anyone.
- Do not rely on unverified rumor-based recommendations, social media groups, or illegal tipsters.
- Do not expect guaranteed or assured returns from market-linked securities investments.