Terms of Service

1. Acceptance of these Terms

These Terms of Service ("Terms") govern your access to and use of the VK Investing website, its content, subscriptions, downloadable files, newsletters and any related services (together, the "Service").

By accessing the Service, creating an account, or purchasing a subscription, you confirm that you have read, understood and agree to be bound by these Terms and by our Privacy Policy and Refund & Cancellation Policy. If you do not agree, you must stop using the Service immediately.

2. What this Service is — and what it is not

2.1 Purpose: education only

VK Investing exists to teach financial analysis. Our purpose is to help readers understand how to read financial statements, how valuation methods work, what accounting terms mean, and how to interpret publicly disclosed company information for themselves.

Our content includes explanatory articles, educational guides, methodology walk-throughs, and illustrative financial model templates. Where we reference a real company, we do so solely as a teaching example to demonstrate a method, concept or reading technique — in the same way a textbook or classroom might use a real-world case study.

2.2 What we expressly do NOT provide

To be unambiguous, the Service does not include and must never be interpreted as:

• Investment advice of any kind, general or personalised;
• Buy, sell or hold recommendations on any security;
• Price targets, fair-value calls or valuation opinions intended for you to act upon;
• Portfolio management, asset allocation or financial planning services;
• Assurance, guarantee or projection of returns;
• Advice tailored to your personal financial position, income, liabilities, risk appetite, tax situation, or objectives — we know none of these things about you and make no attempt to assess them;
• Any service requiring registration with SEBI, the Reserve Bank of India, IRDAI, or any other regulator.

2.3 Illustrative models and template files

Any spreadsheet, financial model, template or worksheet made available through the Service is provided as an educational tool. Its purpose is to demonstrate how a valuation methodology is constructed — the mechanics of the formulas, the structure of the schedules, and the way assumptions flow through a model.

Any figures contained in such files are illustrative inputs chosen to demonstrate the method, not our opinion of what any security is worth. Outputs produced by these files are the arithmetic result of assumptions — change the assumptions and the output changes entirely. No output constitutes a valuation opinion, target price or recommendation. You are responsible for any assumptions you choose to enter and any conclusion you choose to draw.

2.4 Public information only

Our content is prepared using publicly available information — company annual reports, stock-exchange filings, press releases, earnings-call transcripts and similar public disclosures. We do not possess, seek or use unpublished price-sensitive information.

3. No relationship is created

Your use of the Service does not create any adviser-client, fiduciary, agency, professional or advisory relationship between you and VK Investing or any of its authors, contributors or operators. We owe you no fiduciary duty. We do not act on your behalf.

4. Your responsibility — you decide, you own the outcome

You further acknowledge that:

• Investments in securities markets are subject to market risk;
• You may lose some or all of your capital;
• Past performance is never indicative of future results;
• You are solely responsible for verifying any figure or statement independently against primary sources before relying on it;
• You have the financial knowledge and capacity to evaluate the risks of your own decisions.

5. Eligibility

You must be at least 18 years old and legally capable of entering into a binding contract under the Indian Contract Act, 1872. The Service is intended for users in India. If you access it from outside India, you do so on your own initiative and are responsible for compliance with your local laws.

6. Accounts

Certain features require an account. You agree to provide accurate information, keep your credentials confidential, and notify us promptly of any unauthorised use. You are responsible for all activity under your account. We may suspend or terminate accounts that breach these Terms.

7. Subscriptions, pricing and payment

7.1 Plans

Some content is free. Certain content requires a paid subscription. The plans, their inclusions and their prices are displayed on our pricing page and may be changed prospectively at our discretion.

7.2 Prices are inclusive of GST

All displayed prices are inclusive of Goods and Services Tax (GST) at the applicable rate. The tax component is shown separately at checkout and on your invoice.

7.3 Payment processing

Payments are processed by Razorpay Software Private Limited, a third-party payment gateway. We do not collect, store or have access to your full card number, CVV or banking credentials. Your use of the payment gateway is additionally governed by Razorpay's own terms and privacy policy.

7.4 Auto-renewal

Subscriptions renew automatically at the end of each billing cycle unless cancelled before the renewal date. By subscribing, you authorise recurring charges to your chosen payment method. You may cancel auto-renewal at any time from your account page or by contacting us.

7.5 Failed payments

If a renewal payment fails, we may retry, suspend access, or terminate the subscription. Access to paid content will cease if payment is not received.

8. Refunds

Refunds are governed by our Refund & Cancellation Policy, which forms part of these Terms.

9. Intellectual property

All content on the Service — text, analysis, charts, spreadsheets, models, graphics, layout, code, branding and the "VK Investing" name and mark — is owned by us or our licensors and is protected by the Copyright Act, 1957 and other applicable laws.

Subject to your compliance with these Terms, we grant you a limited, personal, non-exclusive, non-transferable, revocable licence to access and use the content for your own personal, non-commercial educational purposes only.

9.1 You must not

• Reproduce, republish, redistribute, resell, sub-licence, rent or lease any content;
• Share your account credentials or paid content with any other person;
• Post paid content to Telegram, WhatsApp groups, forums, social media or any other channel;
• Use the content to provide advisory, research or advisory-like services to third parties;
• Scrape, crawl, data-mine, or use automated systems to extract content;
• Use the content to train, fine-tune or develop any machine-learning or artificial-intelligence model;
• Remove, obscure or alter any copyright, disclaimer or attribution notice;
• Reverse-engineer, decompile or attempt to derive source code from any part of the Service.

Breach of this clause may result in immediate termination without refund, and we reserve all legal remedies including injunctive relief and damages.

10. Accuracy, errors and omissions

We make sincere efforts to source figures from primary documents and to present them accurately. However, we do not warrant that any content is accurate, complete, current or error-free.

Content may contain typographical errors, transcription errors, calculation errors, outdated figures, or misinterpretations. Company disclosures may themselves be restated, revised or corrected after publication. Content reflects our understanding at the date of publication only and we are under no obligation to update it.

You must independently verify every figure against the original source document before relying on it for any purpose.

11. Third-party content and links

The Service may reference or link to third-party websites, filings, data providers or resources. We do not control, endorse or take responsibility for third-party content, availability or practices. Accessing them is at your own risk.

12. Conflicts of interest and personal holdings

Authors and operators of VK Investing may personally hold, buy or sell securities of companies referenced in our educational content. We do not undertake to disclose such holdings, and readers should assume that a position may exist in any company mentioned. This is a further reason why our content must not be treated as objective advice or acted upon.

13. Availability of the service

We provide the Service on an "as is" and "as available" basis. We do not guarantee uninterrupted, timely, secure or error-free operation. We may modify, suspend or discontinue any part of the Service at any time, with or without notice.

14. Disclaimer of warranties

To the maximum extent permitted by law, we disclaim all warranties, express or implied, including any implied warranties of merchantability, fitness for a particular purpose, accuracy, and non-infringement.

15. Limitation of liability

To the maximum extent permitted by applicable law:

• We shall not be liable for any trading loss, investment loss, loss of capital, loss of profit, loss of opportunity, or any indirect, incidental, special, consequential or punitive damages arising out of or connected with your use of, or inability to use, the Service — even if advised of the possibility of such loss;
• Our total aggregate liability for any claim arising out of or relating to the Service shall not exceed the amount actually paid by you to us in the three (3) months immediately preceding the event giving rise to the claim;
• Nothing in these Terms excludes liability that cannot lawfully be excluded.

15A. Specific exclusions of liability

Without limiting the generality of Clause 15, we expressly exclude all liability, to the fullest extent permitted by law, in respect of each of the following. You acknowledge and accept each of these as a condition of using the Service:

15A.1 Investment and trading outcomes

• Any loss of capital, whether partial or total;
• Any loss of profit, anticipated profit, or opportunity;
• Any adverse movement in the price of any security, index, commodity or currency;
• Any decision to buy, sell, hold, or refrain from transacting in any security;
• Any timing of entry or exit from any position;
• Any tax consequence, brokerage cost, or transaction charge you incur;
• Any margin call, leverage loss, derivative loss, or forced liquidation.

15A.2 Content, data and accuracy

• Any error, inaccuracy, omission, typographical mistake, transcription error or calculation error in any content;
• Any figure that is later restated, revised, corrected or withdrawn by the company or authority that originally published it;
• Any content that has become outdated, superseded or no longer applicable;
• Any assumption, estimate, projection, model output or methodology that proves incorrect;
• Any interpretation, inference or conclusion you draw from our content;
• Any translation, including Hinglish versions, where meaning may differ from the English original;
• Any third-party data, filing, report or source that we reference or rely upon.

15A.3 Illustrative models and files

• Any output, valuation, figure or result produced by any spreadsheet, model or template, whether using our illustrative inputs or your own;
• Any formula error, circular reference, broken link or software incompatibility in any file;
• Any use of a model for a company, sector or situation for which it was not designed;
• Any reliance on a model output as though it were a valuation opinion or price target — it is neither.

15A.4 Technical and operational matters

• Any interruption, downtime, delay, suspension or discontinuation of the Service;
• Any failure, error or breach of any third-party service we rely on, including hosting, database, email or payment providers;
• Any loss or corruption of data;
• Any virus, malware or harmful code transmitted through the Service or a linked site;
• Any unauthorised access to your account resulting from your failure to keep credentials confidential;
• Any failure of email delivery, including invoices, renewal reminders or login codes;
• Any payment failure, duplicate charge or delay attributable to a payment gateway or bank.

15A.5 Third parties and external content

• Any third-party website, service, tool, advertisement or resource linked from or referenced by the Service;
• Any act, omission, advice or service of any broker, adviser, distributor, platform or other person you engage;
• Any content posted, shared or republished by any user or third party.

15A.6 Regulatory and legal matters

• Any change in law, regulation, tax treatment or regulatory guidance affecting you or the Service;
• Any consequence of the fact that we are not registered with SEBI in any capacity;
• Any determination by any authority regarding the nature or classification of our content;
• Any suspension, restriction or withdrawal of any part of the Service undertaken by us for compliance reasons.

15A.7 Force majeure

We shall have no liability for any failure or delay in performance caused by events beyond our reasonable control, including natural disaster, epidemic, war, civil unrest, terrorism, strike, governmental action, regulatory direction, power failure, internet or telecommunications failure, cyber-attack, or failure of any third-party infrastructure.

15B. No warranty of results

We make no representation, warranty, guarantee or promise, express or implied, that:

• Any information will be accurate, complete, current or free from error;
• Any methodology, model or approach will produce a correct or useful result;
• Any past performance, trend or pattern will continue or repeat;
• Use of the Service will improve your investment outcomes in any way;
• The Service will meet your requirements or expectations;
• Any defect will be corrected within any particular time, or at all.

15C. Your acknowledgement

By using the Service you specifically acknowledge and agree that:

1. You have read and understood that we are not SEBI registered and provide no investment advice;
2. You are capable of evaluating financial information independently, or will obtain professional advice;
3. You will independently verify every figure against its primary source before relying on it;
4. You will not treat any illustrative model output as a valuation or price target;
5. You accept full and sole responsibility for every decision you make;
6. You will not hold us responsible for any outcome, however arising;
7. The price you pay reflects this allocation of risk, and the Service would not be offered on any other basis.

16. Indemnity

You agree to indemnify, defend and hold harmless VK Investing, its operators, authors and contributors from and against any claims, damages, liabilities, losses, costs and expenses (including reasonable legal fees) arising out of your use of the Service, your breach of these Terms, your infringement of any third-party right, or any decision you make in reliance on our content.

17. Termination

You may stop using the Service at any time. We may suspend or terminate your access immediately, without notice or refund, if you breach these Terms, misuse content, or if we are required to do so by law or regulation. Clauses relating to intellectual property, disclaimers, limitation of liability, indemnity and governing law survive termination.

18. Regulatory changes

The regulatory environment for financial content in India continues to evolve. We may modify, restrict, suspend or withdraw any part of the Service — including paid offerings — at any time in order to remain compliant with applicable law or regulatory guidance. Where a paid subscription is discontinued for this reason, we will refund the unused portion on a pro-rata basis.

19. Changes to these Terms

We may update these Terms from time to time. The "Last updated" date will change accordingly. Material changes will be notified by email or a prominent notice on the site. Your continued use after changes take effect constitutes acceptance.

20. Governing law and jurisdiction

These Terms are governed by and construed in accordance with the laws of India. Subject to Clause 21, the courts of competent jurisdiction in Bihar, India shall have exclusive jurisdiction over any dispute.

21. Grievance redressal

If you have a complaint or concern, please write to us first — we aim to resolve issues without escalation.

22. Severability and entire agreement

If any provision of these Terms is held invalid or unenforceable, the remaining provisions continue in full force. These Terms, together with the Privacy Policy and Refund Policy, constitute the entire agreement between you and us regarding the Service.