Last updated: April 27, 2026 · Effective: April 27, 2026
These Terms of Use (“Terms”) form a binding agreement between you (“you”, “User”) and Devesh Varshney, sole proprietor doing business as TruePrice (“TruePrice”, “we”, “us”, “our”), a SEBI-registered Research Analyst with place of business at Bengaluru, Karnataka, India. SEBI Registration Number: Pending issuance. The Terms govern your access to and use of the website, mobile web application, and all features and services made available at trueprice.pro (collectively, the “Platform”).
By accessing or using the Platform you agree to be bound by these Terms, our Most Important Terms & Conditions (MITC), our Privacy Policy, our Disclosures, our Regulatory page, our Cookie Policy, our Refund & Cancellation Policy, our Acceptable Use Policy, and our Grievance Redressal Policy (each a “Policy”, together with these Terms the “Agreement”). If you do not agree, you must not use the Platform.
By accessing the Platform you represent and warrant that:
We may refuse, suspend, or terminate access for any User who does not meet these requirements, without liability.
TruePrice is an equity-research platform operated by a SEBI-registered Research Analyst. The Services made available through the Platform may include:
The Platform is delivered on an “as is” and “as available” basis. Features may be added, removed, or modified at any time without notice.
Research published on the Platform is prepared by Devesh Varshney in his capacity as a SEBI-registered Research Analyst, in accordance with the SEBI (Research Analysts) Regulations, 2014. Research outputs reflect the independent professional opinion of the Research Analyst, based on publicly available information as of the date of publication.
Research published on TruePrice is general in nature. It does not constitute personalised investment advice and does not consider your individual financial circumstances, investment objectives, risk tolerance, tax position, or suitability. Nothing on the Platform should be construed as a solicitation to buy, sell, or hold any security, or as a guarantee of returns. Past performance is not indicative of future results. You are solely responsible for any investment decision and we recommend consulting a SEBI-registered investment adviser before acting.
Where required by SEBI's Advertisement Code for Research Analysts (SEBI circular dated 5 April 2023 and subsequent circulars): 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.
In accordance with the SEBI Circular dated 17 February 2025 on Most Important Terms and Conditions (MITC) for Research Analysts: The terms and conditions and the consent thereon are for the research services provided by the Research Analyst and the Research Analyst cannot execute / carry out any trade (purchase / sell transaction) on behalf of the client. See our full MITC document.
Access to most features requires an account. We offer two authentication methods:
You are responsible for the confidentiality and security of your credentials and devices, for all activity under your account, and for notifying us immediately at support@trueprice.pro of any unauthorised use. We may suspend or terminate accounts engaged in credential-sharing, automated access, or any breach of this Agreement, without refund.
All prices are quoted in Indian Rupees (INR) and are shown inclusive of applicable Goods and Services Tax (GST). The total amount payable, along with any tax breakup, is conspicuously displayed on the checkout page before you confirm payment, in line with Rule 4(3) of the Consumer Protection (E-Commerce) Rules, 2020 and the RBI Master Directions on Regulation of Payment Aggregators.
We may change pricing at any time. Changes apply to new purchases or renewals only and do not affect any prepaid balance or active term that has already been paid for.
Payments are processed by Cashfree Payments India Private Limited, an RBI-authorised Payment Aggregator, as our payments service provider. By initiating a payment you also agree to Cashfree's terms and privacy policy. Card numbers, CVVs, UPI PINs, and netbanking credentials are entered directly with Cashfree (or its acquiring banks); they are never seen, collected, or stored by TruePrice.
We may decline a transaction at our discretion or at the instruction of Cashfree, an issuing bank, or a regulator. We are not liable for any transaction declined, delayed, or reversed by a payment instrument issuer or by the payment aggregator.
Our refund and cancellation rules — including timelines, eligible grounds, the chargeback process, and how to raise a payment grievance — are set out in detail in our Refund & Cancellation Policy. That Policy is incorporated into these Terms by reference.
You will not, and you will not permit any third party to:
The full list of prohibited uses, including content rules, is set out in our Acceptable Use Policy. Violations may result in immediate termination, forfeiture of unused credits or subscription value, and referral to law enforcement.
All Content on the Platform — including valuation models, methodology, research reports, written analysis, charts, datasets, curated peer sets, software, brand, logos, and design — is the exclusive intellectual property of TruePrice and / or its licensors and is protected under the Copyright Act, 1957 and the Trade Marks Act, 1999.
You are granted a personal, limited, non-exclusive, non-transferable, non-sublicensable, revocable licence to access and use the Platform for your own personal, non-commercial use, subject to this Agreement. No other rights are granted by implication or estoppel.
The Platform integrates third-party services, including Meta WhatsApp Cloud API (auth and notifications), Google Firebase Authentication, Cashfree Payments (payments), Anthropic Claude and OpenAI APIs (AI-assisted data extraction from public documents), Google Cloud Platform (hosting and database), Cloudflare R2 (object storage and CDN), Vercel (front-end edge delivery), and HyperDX (observability). The full list, including what data flows where and links to each provider's policies, is in our Privacy Policy. Your use of any third-party service through the Platform is also subject to that provider's own terms and privacy policy. We are not responsible for third-party services beyond our contractual obligations with them.
We use commercial AI APIs (Anthropic Claude and OpenAI) strictly as tooling to extract structured information from publicly available documents (annual reports, transcripts, exchange filings) and to parse screenshots that you upload during Portfolio Sync. The valuation engines (DCF, Relative Valuation, SOTP, Reverse DCF) are rule-based and deterministic — they produce a numeric output from defined inputs and assumptions. Where the Platform displays content that is substantially generated using AI tooling, we identify it as such, in line with the IT (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2026.
You retain ownership of any content you upload to the Platform (including portfolio screenshots and notes). You grant us a worldwide, royalty-free, non-exclusive, non-sublicensable licence to host, process, and display such content solely as required to provide the Services to you. We may use anonymised, aggregated insights derived from User content to improve the Platform; such insights cannot be re-identified to you.
If you send us feedback or suggestions, you grant us a perpetual, irrevocable, royalty-free licence to use them without restriction.
We may suspend or terminate your access immediately and without prior notice if (i) you breach this Agreement, (ii) we are required to do so by a regulator, court order, or law-enforcement agency, (iii) your use poses a security or integrity risk to the Platform or other Users, or (iv) we cease offering the affected Service. You may terminate this Agreement at any time by deleting your account from settings or by writing to support@trueprice.pro. On termination, all licences granted to you cease and unused credits or subscription terms are forfeited save where our Refund & Cancellation Policy specifically provides otherwise.
To the maximum extent permitted by applicable law, the Platform and the Services are provided “as is” and “as available”. We disclaim all warranties, express or implied, including merchantability, fitness for a particular purpose, non-infringement, accuracy, completeness, or uninterrupted availability. Without limiting the foregoing, we do not warrant that (a) any valuation, signal, or output will be accurate or profitable, or (b) the Platform will be free from interruption, defect, virus, or error.
To the maximum extent permitted by applicable law, neither TruePrice nor Devesh Varshney will be liable to you, on any theory of liability, for any indirect, incidental, special, consequential, exemplary, or punitive damages, including investment losses or losses of profit, data, goodwill, or opportunity, arising from your use of or inability to use the Platform.
In any event, our total cumulative liability under this Agreement will not exceed the higher of (i) INR 1,000 or (ii) the total amount you actually paid to us under the Agreement in the three months immediately preceding the event giving rise to the claim. Nothing in this Agreement excludes or limits liability that cannot lawfully be excluded or limited under Indian law (including under the Consumer Protection Act, 2019).
You agree to indemnify, defend, and hold harmless TruePrice, Devesh Varshney, and their officers, employees, contractors, and agents from and against any claim, demand, loss, damage, cost, or expense (including reasonable legal fees) arising from (a) your breach of this Agreement, (b) your misuse of the Platform, (c) your violation of any law or third-party right, or (d) any content you upload to the Platform.
We are not liable for any failure or delay caused by events beyond our reasonable control, including acts of God, war, terrorism, civil unrest, government action, regulatory change, pandemic, internet or telecommunications failure, power failure, denial-of-service attack, data-centre outage, or failure of a third-party service provider.
If you have any complaint or grievance, you can write to our Grievance Officer at support@trueprice.pro. We will acknowledge within 48 hours and resolve within 30 days, in line with the IT Rules, 2021, the SEBI (Research Analysts) Regulations, 2014, and the Consumer Protection (E-Commerce) Rules, 2020. The full process and SCORES / SmartODR escalation paths are set out in our Grievance Redressal Policy.
We may update these Terms from time to time. Material changes will be notified through the Platform or via the contact details registered on your account. Continued use after the effective date of the change means you accept the updated Terms. If you do not accept, you must stop using the Platform.
This Agreement is governed by the laws of India. Subject to the grievance procedure above and any mandatory ODR mechanism prescribed by SEBI, the courts at Bengaluru, Karnataka, India have exclusive jurisdiction over all disputes arising out of or in connection with this Agreement.
For any question about these Terms, contact us at support@trueprice.pro.