Terms of Service

By accessing or using Aktai (“the Service”), you agree to be bound by these Terms of Service and our Privacy Policy. If you do not agree, do not use the Service.

Aktai is sold to SEBI-registered Research Analysts and the firms they operate. These terms apply to you as the registered analyst or firm holding the account, to any team member you authorise to use it, and to site visitors.

Aktai is software for SEBI-registered Research Analysts in India. It tracks BSE and NSE filings across the client portfolios you load, weights each filing by how many of your clients are exposed, drafts factual research notes with AI for you to review and edit, lets you deliver those notes white-label over WhatsApp and email from your own practice name, and keeps a SEBI Regulation 25 audit trail of every note you mark as sent.

• You must be a Research Analyst registered with SEBI under the SEBI (Research Analysts) Regulations, 2014, or a person that analyst authorises to use the account on the firm's behalf
• You must be at least 18 years old and have the legal capacity to enter into a binding agreement
• We verify SEBI registration at sign-up; access is invite-only and we may decline or revoke access if we cannot verify it
• You must not be located in a jurisdiction where the Service is explicitly restricted, and must not be on any government sanctions or embargo list

• You must provide accurate and complete information during registration
• You are responsible for maintaining the security of your account credentials
• You must not share your account credentials with third parties
• You are responsible for all activity that occurs under your account
• You must notify us immediately of any unauthorised use: [email protected]
• We reserve the right to terminate accounts that violate these terms

You agree NOT to:

• Use the Service for any unlawful purpose or in violation of applicable regulations, including the SEBI (Research Analysts) Regulations, 2014
• Attempt to gain unauthorised access to the Service or its infrastructure
• Scrape, crawl, or extract data from the Service by automated means
• Resell, sublicense, or commercially exploit the Service without our written consent
• Use the Service to facilitate market manipulation or market abuse
• Send a client a note you have not reviewed, or hold out an unedited AI draft as your own research
• Send messages to recipients who have not consented to receive them, or use a delivery channel in breach of its provider terms
• Transmit spam, malware, or any harmful content through the Service
• Impersonate any person, entity, or market participant, or submit false or misleading information about yourself, your registration, or your clients
• Share login credentials, or add unauthorised seats, to circumvent plan limits

This section applies to all users in all jurisdictions without exception.

6.1 Nature of the service. Aktai is software that surfaces public company filings and drafts factual research notes from them using AI. A draft summarises the factual content of a filing at the time of processing. It is a starting point for the registered analyst, not a finished research report. You decide what to keep, what to change, and what view to add. Nothing the Service produces is the analyst's view until you, the registered analyst, review, edit, and sign it.

6.2 Aktai itself gives no advice. Nothing produced by the Service, before you adopt it, constitutes or shall be construed as Aktai providing:

• investment advice, investment recommendations, or personalised financial advice of any kind;
• a recommendation, opinion, or inducement intended to influence a decision to buy, sell, hold, subscribe for, or underwrite any security, financial instrument, or collective investment scheme;
• a research report or research analysis issued by Aktai; or
• a view by Aktai on the future price, performance, or suitability of any security or financial instrument.

Once you edit, approve, and send a note to your clients, it becomes your research as the registered analyst, and you are solely responsible for its content and for compliance with the SEBI Research Analyst Regulations, including the record-keeping, disclosure, and signed-report requirements of Regulation 25.

6.3 Regulatory status. Aktai is operated by AKTAI LTD and is not authorised, registered, or licensed by any financial regulator. In particular, Aktai is not, and does not act as:

• an authorised person under the UK Financial Services and Markets Act 2000 (FSMA), and nothing we publish is a “financial promotion” under section 21 FSMA or regulated advice on investments;
• an investment adviser registered with the US Securities and Exchange Commission or a state, or a broker-dealer regulated by FINRA, under the US Investment Advisers Act of 1940 or the Securities Exchange Act of 1934;
• an Investment Adviser under the SEBI (Investment Advisers) Regulations, 2013, or a Research Analyst under the SEBI (Research Analysts) Regulations, 2014;
• a holder of an Australian Financial Services Licence providing financial product advice under the Corporations Act 2001 (Cth);
• a licensed financial adviser under the Singapore Financial Advisers Act 2001;
• an investment-services provider authorised under Directive 2014/65/EU (MiFID II); nor
• an authorised person under any other financial services legislation in any other jurisdiction.

Nothing in this Service is intended to constitute regulated financial advice given by Aktai. Aktai supports the work of a registered analyst; it does not replace your judgement or your registration.

6.4 Limitations of AI drafting. AI drafts may be inaccurate, incomplete, delayed, or misleading. AI models can misread context, hedging language, qualifications, or sector-specific terminology, and can omit material points or state things a filing does not support. Filings and data sources used by Aktai may themselves contain errors or delays. A draft is never a substitute for reading the underlying filing.

6.5 Your responsibility. You must review and verify every draft against the source filing before you adopt, edit, or send it. You must not send a note to a client without that review. To the extent permitted by law, we are not responsible for any losses arising from a note you send, or from your use of or reliance on the Service.

• Aktai for Research Analysts is invite-only and sales-led. Plans are scoped to the size of your client book and the delivery channels you use, and are agreed during onboarding. There is no self-serve free tier.
• Plans are billed monthly or annually, as agreed, and renew for the same period until cancelled.
• Indian Research Analysts are billed in INR and invoiced directly. Any applicable GST is shown on the invoice. Ask [email protected] for the invoicing details that apply to your firm.
• Prices may change with at least 30 days' notice before a renewal. A price change never applies to a period you have already paid for.
• Where card or UPI payment is used, it is processed by Stripe, or by Razorpay for Indian Research Analysts. We never see or store your full card details.
• You can cancel at any time. On cancellation your plan stays active until the end of the period you have paid for.

• First period: if you cancel within 14 days of your first charge, we will refund that charge in full, provided you have not made bulk client sends through the Service in that period.
• After 14 days: you can cancel at any time and keep access through the end of the current billing period. Charges already taken for periods that have started are non-refundable, except where a refund is required by law.
• Service credits: if the Service is unavailable for more than 72 consecutive hours due to our fault, you are entitled to a pro-rated credit for that period.
• Request a refund by emailing [email protected]. Refunds are returned to your original payment method, normally within 5 to 10 business days.

We aim for high availability but do not guarantee uninterrupted access. We are not liable for:

• Temporary downtime for maintenance or upgrades (announced with 24h notice where possible)
• Interruptions caused by third-party providers (the WhatsApp Business API, email provider, data sources, cloud infrastructure)
• Delayed or undelivered notes caused by third-party API failures, rate limiting, or a recipient's settings
• Force majeure events beyond our reasonable control
• Filing or market-data delays from exchanges or data sources

• The Aktai platform, logo, and brand are our exclusive property
• Filing and market data is sourced from exchanges and third parties and subject to their respective licences
• You may not reproduce, copy, resell, or redistribute the Service itself, or hold an unedited AI draft out as your own research
• Your client data, the portfolios and contact details you load, remains yours; we process it only to provide the Service to you and never sell or share it
• The research notes you write, edit, and send are yours as the registered analyst; we claim no ownership of them

We may suspend or terminate your account if you:

• Violate these Terms of Service
• Engage in fraudulent or abusive behaviour, or lose your SEBI registration
• Fail to pay fees after a 7-day grace period
• Circumvent plan limits or access controls

You may cancel your account at any time from your account settings or by emailing us. When you request deletion, a 7-day grace window starts during which you can cancel the request; after it elapses your account and client data are hard-deleted by our automated nightly job, as set out in our Privacy Policy. You are responsible for exporting any Regulation 25 records you need to retain before deletion completes.

12.1 Provided “as is”. To the maximum extent permitted by law, the Service is provided “as is” and “as available”, without warranties of any kind, whether express, implied, or statutory. We specifically disclaim all implied warranties of merchantability, fitness for a particular purpose, accuracy, completeness, timeliness, and non-infringement. We do not warrant that the Service, any filing summary, AI draft, or delivery will be accurate, uninterrupted, error-free, or that it will meet your requirements.

12.2 Excluded losses. To the maximum extent permitted by law, Aktai shall not be liable for:

• Any indirect, incidental, special, consequential, exemplary, or punitive damages
• Any financial or trading losses arising from use of or reliance on the Service
• Any loss of data, profits, goodwill, or business opportunities
• Any decision made by you or a client based on a filing summary, an AI draft, or a note sent through the Service
• Any act or omission of a third-party provider (delivery channel, news source, exchange, payment processor, or infrastructure provider)

12.3 Liability cap. Subject to clause 12.4, our total aggregate liability to you for all claims arising out of or relating to the Service or these terms, whether in contract, tort (including negligence), or otherwise, shall not exceed the total fees you actually paid us in the 3 months immediately before the event giving rise to the claim. Where you have paid us nothing in that period, our aggregate liability shall not exceed USD 50.

12.4 What we never exclude. Nothing in these terms limits or excludes our liability for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation, or for any other liability that cannot be limited or excluded under applicable law. If you deal with us as a consumer, nothing in this section affects your mandatory, non-waivable statutory rights, and the limitations above apply only to the extent permitted against a consumer.

You agree to indemnify, defend, and hold harmless Aktai, AKTAI LTD, and its officers, directors, employees, and agents from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable legal fees) arising out of or related to: (a) your breach of these terms; (b) your misuse of the Service; (c) your violation of any law or any third-party right, including any market-abuse, securities, or intellectual-property right; or (d) any content or information you submit through the Service.

If you use the Service as a consumer, this indemnity applies only to the extent it is fair and enforceable against a consumer under the consumer-protection law that applies to you, and it does not require you to indemnify us for losses we cause through our own breach, negligence, or fault.

Governing law and jurisdiction. Aktai is operated by AKTAI LTD, a company registered in England and Wales (registered office: 71-75 Shelton Street, Covent Garden, London WC2H 9JQ, United Kingdom). Except where local mandatory law gives you stronger, non-waivable rights, these terms are governed by the laws of England and Wales, and the courts of England and Wales have jurisdiction over any dispute. Nothing in this clause removes the protection of mandatory consumer-protection or professional-regulation laws that apply to you in India. Jurisdiction-specific provisions are shown below based on your location.

Other brands. AKTAI LTD also operates Nakshara (nakshara.app), a consumer kundli-matching service, under its own separate terms and privacy policy. These terms govern the Aktai platform only.

Changes to the Service. We may add, change, suspend, or discontinue any part of the Service, including any feature, channel, or plan, at any time. Where a change materially reduces a paid feature you rely on, your remedy is set out in Sections 7 and 8.

Assignment. You may not assign or transfer your rights or obligations under these terms without our prior written consent. We may assign these terms, in whole or in part, to any successor or affiliate, including in connection with a merger, acquisition, or sale of assets.

Severability. If any provision of these terms is held invalid or unenforceable, that provision will be limited or removed to the minimum extent necessary, and the remaining provisions will stay in full force.

No waiver. Our failure to enforce any provision is not a waiver of our right to do so later. A waiver is effective only if given by us in writing.

Entire agreement. These terms, together with the Privacy Policy, the Master Services Agreement where you have accepted it, and any plan details shown at checkout, are the entire agreement between you and us about the Service and replace any earlier agreement or understanding on the same subject.

Order of precedence. If you are a Research Analyst or firm who has accepted the Master Services Agreement, that Agreement governs your use of the Service and prevails over these terms to the extent of any conflict, including on the limitation and cap of liability (Section 11 of that Agreement, not Section 12 of these terms, applies to you). These terms continue to govern matters the Agreement does not cover and the use of this website by visitors who have not accepted the Agreement.

Survival. Sections 5, 6, 10, 12, 13, and 14, and any other provision that by its nature should survive, continue to apply after your account is closed or these terms end.

We may update these terms. We will notify registered users of material changes by email with at least 14 days notice. Continued use after changes take effect constitutes acceptance of the new terms.

Legal enquiries: [email protected]
Privacy: [email protected]
General: [email protected]
Response time: 5 business days for legal matters, 24 hours for general