Regulatory & Compliance

1. Registration With SEBI

TruePrice is operated by Devesh Varshney, a sole proprietor registered with the Securities and Exchange Board of India (“SEBI”) as an Individual Research Analyst under the SEBI (Research Analysts) Regulations, 2014.

The Research Analyst is also subject to the supervision of the Research Analyst Administration and Supervisory Body (“RAASB”) as constituted under SEBI's framework for the administration and supervision of Research Analysts.

Standard regulatory disclaimer: Registration granted by SEBI, membership of any administrative body of the Research Analyst Administration and Supervisory Body (RAASB), and certification from the National Institute of Securities Markets (NISM) in no way guarantee performance of the Research Analyst or provide any assurance of returns to investors.

2. NISM Certification

The Research Analyst holds a valid certification from the National Institute of Securities Markets (“NISM”) under the NISM Series-XV: Research Analyst Certification Examination, in line with the qualification requirements under Regulation 7 of the SEBI (Research Analysts) Regulations, 2014.

3. Compliance With SEBI Research Analyst Regulations

The Research Analyst operates in compliance with the SEBI (Research Analysts) Regulations, 2014 and the master circulars issued by SEBI from time to time. Specific aspects covered:

• Code of Conduct (Schedule III): the Research Analyst follows the SEBI-prescribed Code of Conduct for Research Analysts, including duties of integrity, fair dealing, professional independence, and disclosure of conflicts.
• Disclosure obligations (Regulation 16 & 19): every Research Report carries the disclosures mandated under Regulation 16, including financial interest, position holdings, compensation arrangements, and any other material information capable of affecting research objectivity. See our Disclosures page for the consolidated disclosure set.
• Advertisement Code: all advertisements and communications relating to research services on TruePrice comply with SEBI's Advertisement Code for Investment Advisers and Research Analysts dated 5 April 2023, including the prohibition on claims of assured returns, misleading statements, and statements based on assumptions or projections inconsistent with the underlying risk profile.
• Recordkeeping: records of research reports, rationale, supporting documents, and disclosures are maintained for the periods prescribed by SEBI.
• Compliance audits: the Research Analyst participates in periodic internal and (where required) external compliance reviews, and cooperates with any SEBI / RAASB inspection.

4. Insider Trading — PIT Regulations 2015

We adhere to the SEBI (Prohibition of Insider Trading) Regulations, 2015. Neither the Research Analyst nor any person engaged in research preparation has access to Unpublished Price-Sensitive Information (UPSI) of any covered company. All data used on the Platform is sourced from publicly available filings, annual reports, and third-party data providers. The Research Analyst maintains an internal trading restriction window around the publication of Research Reports to prevent any inadvertent violation.

5. PFUTP Regulations 2003 — Fair Practices

Consistent with the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003:

• We do not engage in any market manipulation, pump-and-dump activity, or misleading practices;
• We do not make any claims of guaranteed returns, assured profits, or risk-free strategies;
• We clearly disclose the limitations and assumptions of our valuation models;
• We do not promote any specific security or attempt to create artificial demand or supply.

6. Association With Unregulated Persons

In line with SEBI's circulars dated 25 October 2024 and 29 January 2025 prohibiting regulated entities from associating with unregistered persons who provide securities recommendations or claim guaranteed returns, the Research Analyst does not engage, sponsor, partner with, or share platform real-estate with any such unregistered person. Where third-party content is featured on the Platform, it is featured for educational purposes only and bears the requisite labelling.

7. Investor Protection

Consistent with SEBI's investor-protection mandate:

• All valuations on the Platform carry clear disclaimers that they are model-based estimates and not personalised investment recommendations.
• Users are prominently informed that investing in securities involves risks, including loss of principal.
• We encourage Users to consult a SEBI-registered Investment Adviser before making any investment decision based on any information read on the Platform.
• We do not promise, imply, or guarantee any level of returns on investments.

8. Grievance Redressal — SEBI SCORES & SmartODR

Our complete process is published in our Grievance Redressal Policy. In summary:

• Step 1. Write to our Grievance Officer at support@trueprice.pro. We will acknowledge within 48 hours and resolve within 30 days.
• Step 2. If not satisfied, escalate to SEBI SCORES at scores.sebi.gov.in. SEBI takes up the complaint directly with the Research Analyst and monitors resolution.
• Step 3. For unresolved monetary disputes, you may use SEBI's Online Dispute Resolution platform at smartodr.in under the SEBI circular dated 31 July 2023 and subsequent circulars.

9. Investor Charter For Research Analysts

In compliance with the SEBI Investor Charter for Research Analysts:

• You have the right to receive Research Reports that are independent, well-reasoned, and prepared by SEBI-registered persons.
• You have the right to know the limitations and assumptions underlying every Research Report.
• You have the right to a transparent, time-bound grievance-redressal process.
• You have the right to escalate to SEBI through SCORES and SmartODR.
• You have the responsibility to read each Research Report carefully, understand the assumptions, and consult a registered investment adviser before acting.
• You have the responsibility not to rely on any communication that promises guaranteed returns.

10. Data Sources & Market Data

All market and financial data on the Platform is sourced from publicly available filings, exchange disclosures, and licensed third-party data providers. We do not redistribute exchange real-time market data and we do not act as a data redistribution vendor for NSE, BSE, or any other exchange. End-of-day price data displayed on the Platform may be delayed.

11. Beyond SEBI — Other Applicable Regulations

• Digital Personal Data Protection Act, 2023: see our Privacy Policy.
• Information Technology Act, 2000 + IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (as amended in 2026 for AI / synthetic content): grievance officer, content rules, and AI-content labelling are addressed in our Privacy Policy and Terms of Use.
• RBI Master Directions on Regulation of Payment Aggregators: we use Cashfree Payments India Pvt. Ltd., an RBI-authorised Payment Aggregator. See our Refund & Cancellation Policy.
• Consumer Protection Act, 2019 + Consumer Protection (E-Commerce) Rules, 2020: grievance officer published, 48-hour acknowledgement / 30-day resolution, prices displayed clearly with tax breakup at checkout.
• CERT-In Directions, 28 April 2022: ICT system logs retained in India for at least 180 days; reportable cyber incidents reported to CERT-In within six hours.
• Income-tax Act, 1961: books of accounts and transaction records retained for the statutory period.

12. Contact & Compliance Officer

All compliance, regulatory, and grievance correspondence should be addressed to:

This page is informational. It does not, and is not intended to, constitute legal advice. For specific regulatory queries, consult a qualified legal professional or contact SEBI directly.