Disclaimer

• Afzal Lokhandwala (the “Firm”) is registered with SEBI as Non- Individual Research Analyst vide Registration number INH000011121 on December 21, 2022, pursuant to which it provides Research Analyst services to its clients. 
• The SEBI has issued no penalties/directions under the SEBI Act or any other regulatory body.
• We do not recommend any stock broker or other intermediary to our research services clientele, nor do we receive any consideration by way of remuneration or compensation or in any other form whatsoever from the stock broker or another intermediary concerning that clientele.
• Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and on sources that we consider reliable. We, however, do not vouch for the consistency or the completeness thereof. This material is for personal information, and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.
• The Firm does not provide any promise or assurance of a favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition and suitability to risk return profile before investing. 
• The information and views on this website & all the services we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. 
• The Firm or any person related to the Firm may be holding positions in the stocks recommended subject to SEBI regulations on the matter.
• The research recommendations are provided to all our clients who are entitled to receive the research reports. Any client (paid or unpaid), any third party or anyone else has no rights to forward or share our calls or SMS or reports or any information provided by us to/with anyone (through any medium) which is received directly or indirectly by them. If found so, then legal actions can be taken.
• The Firm ensures that if a client wants an opinion on a specific position, such suggestion/view under any circumstances shall be considered as an opinion (not advice). We are not liable for any losses whatsoever the client may incur in accepting this opinion.
• The Firm does not have any association in any manner with any issuer of products/securities; this ensures that there are no actual or potential conflicts of interest. This also ensures that objectivity or independence in the carrying on research services is not compromised. 
• Investments in securities market are subject to market risks. Read all the related documents carefully before investing.
• Registration granted by SEBI and certification from NISM in no way guarantees the performance of the intermediary or provides any assurance of returns to investors.
• By accessing (www.afzallokhandwala.com) or any of its associate/group sites, you have read, understood and agree to be legally bound by the terms of the following disclaimer and user agreement.
• The Firm has taken due care and caution in the compilation of data for its website. The Firm advises users to check with other certified experts before taking any investment decision. However, we do not guarantee the consistency, adequacy or completeness of any information and are not responsible for any errors or omissions or for the results obtained from the use of such information. The Firm especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
• The Firm is not responsible for any errors, omissions or representations on any of our pages or on any links on any of our pages. We do not endorse in any way any advertisers on our web pages. Please verify the veracity of all information on your own before undertaking any alliance.
• The information on this website is updated from time to time. The Firm, however, excludes any warranties (whether expressed or implied), as to the quality, consistency, efficacy, completeness, performance, fitness or any of the contents of the website, including (but not limited) to any comments, feedback and advertisements contained within the Site.
• This website contains material in the form of inputs submitted by users and the Firm accepts no responsibility for the content or consistency of such content nor do we make any representations by virtue of the contents of this website in respect of the existence or availability of any goods and services advertised in the contributory sections. The Firm makes no warranty that the contents of the website are free from infection by viruses or anything else which has contaminating or destructive properties and shall have no liability in respect thereof.
• Part of this website may contain advertising and other material submitted to us by third parties. Kindly note that those advertisers are responsible for ensuring that material submitted for inclusion on the website complies with all legal requirements. Although acceptance of advertisements on the website is subject to our terms and conditions which are available on request, we do not accept liability in respect of any advertisements.
• There are risks associated with utilizing internet-based information and research dissemination services. Subscribers are advised to understand that the services can fail due to failure of hardware, software, and Internet connection. While we ensure that the messages are delivered in time to the subscriber’s mobile network, the delivery of these messages to the customer’s mobile phone/handset/desktop/iPad/tablet/laptop is the responsibility of the customer’s mobile network/internet connection/wifi. The messages may be delayed and/or not delivered to the customer’s mobile phone/handset on certain days, owing to technical reasons, and the Firm cannot be held responsible for the same.
• Stock trading is inherently risky, and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make.
  Unlike an actual performance record, simulated results do not represent actual trading. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
• You, and not the Firm, assume the entire cost and risk of any trading you choose to undertake. You are solely responsible for making your own investment decisions. If you choose to engage in transactions with or without seeking advice from a licensed and qualified financial advisor or entity, then such decision and any consequences flowing therefrom are your sole responsibility. The Firm or any employees are in no way liable for the use of the information by others in investing or trading in investment vehicles.
• We encourage all investors to use the services as a resource to further their own research on all featured companies, stocks, sectors, markets and information presented on the site.
• The Firm, its management, its associate companies and/or their employees take no responsibility for the veracity, validity and correctness of the expert recommendations or other information or research. Although we attempt to research thoroughly on information provided herein, there are no guarantees of consistency. The information presented on the site has been gathered from various sources believed to be providing correct information. The Firm, group, companies, associates and/or employees are not responsible for errors, or inaccuracies, if any, in the content provided on the site.
• The Firm has the license to provide research recommendations as a research analyst. Your use of this and all information contained on this website is governed by these Terms and Conditions of Use. This material is based upon information that we consider reliable, but we do not represent that it is consistent or complete and that it should be relied upon, as such. You should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. By using www.afzallokhandwala.com, including any software and content contained therein, you agree that use of the Service is entirely at your own risk. You understand and acknowledge that there is a very high degree of risk involved in trading securities. The Firm makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any material posted on www.afzallokhandwala.com. The Firm does not warranties that trading methods or systems presented in their services or the information herein or obtained from advertisers or members will result in profits or losses.
• The Firm also provides educational services, and no part of those services should be construed as research reports or recommendations.
• Any content published on any of the social media channels owned by Afzal Lokhandwala is purely for educational/illustrative purposes and shall not be treated as recommendations or investment advice. Neither the Firm nor the marketing agents of the Firm shall be held liable/responsible in any manner whatsoever for any losses the viewers may incur due to acting upon this content.
• By visiting the website (www.afzallokhandwala.com) as a visitor and/or as a subscriber, surfing and reading the information on the website is the acceptance of this disclaimer and all other terms and conditions.
• The Firm hereby expressly disclaims any implied warranties imputed by the laws of any jurisdiction. We consider ourselves and intend to be subject to the jurisdiction only of the courts of Morbi in India. If you don’t agree with any of our disclaimers above, please do not read the material on any of our pages. Although access to users outside India is not denied, the Firm shall have no legal liabilities whatsoever in any laws of any jurisdiction other than India. We reserve the right to make changes to our site and these disclaimers, terms, and conditions at any time.