Terms and conditions

Draft text, to be reviewed by a SEBI compliance professional before launch.

Version 2026-10-20

  1. Service. Kestrel provides research recommendations on Indian listed securities and derivatives to subscribers with an active plan and verified KYC. It is research, not portfolio management or execution.
  2. Your decisions. You decide whether to act on a recommendation and you place your own orders. You are responsible for sizing positions within what you can afford to lose.
  3. No guarantee. We do not guarantee or assure any return, accuracy or outcome.
  4. Fees. Fees are as shown on the pricing page, paid only through our checkout, for a period of no more than one year in advance, and within the limits set by SEBI.
  5. Cancellation. You may cancel at any time; the unused part of the fee is refunded pro-rata with no breakage fee (see Refunds).
  6. Personal use. Research is for your own use. Forwarding, reselling or publishing it is not allowed and may end your subscription without refund of the period used.
  7. KYC. Research is shared only after your KYC is verified. Give true details; false details end the service.
  8. Grievances. Raise them on the grievance desk. If not resolved, you may approach SEBI SCORES and the online dispute resolution platform (smartodr.in).
  9. Changes. If these terms change, you will be asked to accept the new version before your next payment.
  10. Law. These terms are governed by Indian law.