Refund Policy
Mahir Invest — Advisory Fee Refund Framework
Company Details
1. INTRODUCTION
This Refund Policy ('Policy') governs the terms under which clients of Mahir Invest ('Company', 'we', 'us', 'our') may request a refund of advisory fees paid. This Policy is issued in compliance with the SEBI (Investment Advisers) Regulations, 2013 ('IA Regulations'), applicable SEBI Circulars, the Consumer Protection Act, 2019, and the Information Technology Act, 2000.
2. DEFINITIONS
In this Policy, the following expressions shall have the meanings assigned to them below:
- "Advisory Fee" means the fee charged by Mahir Invest for rendering investment advisory services, whether on a fixed fee basis or as a percentage of Assets Under Advice (AUA), as agreed upon in the Client Agreement.
- "Subscription Plan" means any periodic (monthly, quarterly, semi-annual, or annual) advisory service plan offered by Mahir Invest through the Platform.
- "Cooling-Off Period" means the initial period following the execution of the Client Agreement during which the Client may terminate the engagement without penalty, as prescribed under SEBI IA Regulations.
- "Client Agreement" means the formal agreement executed between Mahir Invest and the Client as mandated under SEBI IA Regulations, 2013.
- "Platform" collectively means the Mahir Invest mobile application and website (www.mahirinvest.com) and all associated digital interfaces.
- "Services" means investment advisory services, portfolio guidance, financial planning content, risk profiling, and any other offerings provided by Mahir Invest through the Platform.
- "Applicable Laws" means the SEBI Act, 1992; SEBI (IA) Regulations, 2013; SEBI Circulars; Consumer Protection Act, 2019; Information Technology Act, 2000; and all other applicable laws, rules, and regulations of India in force from time to time.
3. REFUND POLICY
This section details the refund eligibility, computation methodology, and processing timelines.
3.1 Refund Eligibility
| Scenario | Refund Entitlement | Processing Timeline |
|---|---|---|
| Cooling-off period cancellation (within 7 days) | Full refund (100%) | Within 15 business days |
| Cancellation before advisory services are rendered | Full refund (100%) less applicable payment gateway charges | Within 15 business days |
| Cancellation after partial advisory services rendered | Pro-rata refund for the unexpired period | Within 21 business days |
| Cancellation after full advisory services rendered | No refund applicable | N/A |
| Cancellation due to Client's regulatory non-compliance | No refund applicable | N/A |
3.2 Pro-Rata Refund Computation
Where a pro-rata refund is applicable, the refund amount shall be calculated as follows:
Refund Formula:
Refund = Total Fee Paid − (Daily Fee Rate × Number of Days Services Were Availed)
Where Daily Fee Rate = Total Fee Paid ÷ Total Number of Days in the Subscription Period
- The date of cancellation request shall be considered as the last day of service for refund computation purposes.
- Any applicable taxes (GST) paid shall be refunded proportionally along with the advisory fee refund.
- Payment gateway charges and transaction processing fees, if any, shall be non-refundable.
3.3 Mode of Refund
Refunds will be processed back to the original payment method (bank account, UPI, or card) from which the payment was originally made.
4. AMENDMENTS TO THIS POLICY
Mahir Invest reserves the right to amend, modify, or update this Policy at any time. All amendments shall be published on the Platform and communicated to registered Clients via email at least 15 (fifteen) days prior to the update taking effect. Continued use of the Platform after publication of amendments constitutes your irrevocable acceptance of the amended Policy. If you do not agree with the amended Policy, you must terminate your engagement with Mahir Invest by providing 30 days written notice to compliance@mahir.in.
5. CONTACT INFORMATION
For refund queries, cancellation requests, or any questions regarding this Policy, please contact:
Registered Office
Mahir Investment Advisers Private Limited
PL G/A-9/1 Shop 1, MIDC G Nr Moris So, Chinchwad East, Pune 411019, Maharashtra
Resolution Timeline: Within 30 days from date of receipt of complaint
Acknowledgement by Client
By accessing and using the Mahir Invest Platform and/or availing Mahir Invest's advisory services, you acknowledge that you have read, understood, and agree to the Advisory Fee Refund Framework set out in this Policy.
Principal Officer
YASH MAHAVIR BEDMUTTHA
principalofficer@mahir.in
Compliance Officer
BHARAT MAKKAR
compliance@mahir.in