Effective Date: February 2025
Townhall Technologies Private Limited (Operating as "mool.ail")
1. Introduction and Acceptance
1.1 Agreement
These Terms and Conditions ("Terms", "Agreement") constitute a legally binding agreement between you ("User", "Client", "you", or "your") and Townhall Technologies Private Limited, a company incorporated under the laws of India, operating under the brand name "Mool" ("Company", "we", "us", or "our").
By accessing or using our platform at www.mool.ai, associated mobile applications, or any of our services (collectively, the "Platform" or "Services"), you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy, which is incorporated herein by reference.
1.2 Regulatory Status
Townhall Technologies Private Limited partners with Mool Capital Private Limited which is registered with the Securities and Exchange Board of India (SEBI) as:
Research Analyst under SEBI (Research Analysts) Regulations, 2014: Registration No. INH000012449
Investment Adviser under SEBI (Investment Advisers) Regulations, 2013: Registration No. INA000018708
These Terms are framed in accordance with applicable SEBI regulations and Indian law.
2. Definitions
In these Terms, unless the context otherwise requires:
"AI-Generated Content" means any research reports, analysis, valuations, recommendations, or other outputs produced in whole or in part through our artificial intelligence and machine learning systems.
"Authorized User" means any individual who is authorized by an Institutional Client to access the Platform under that client's subscription.
"Confidential Information" means all non-public information disclosed by either party, including research methodologies, proprietary data, business strategies, and client information.
"Institutional Client" means Asset Management Companies, Portfolio Management Services, Family Offices, Wealth Management firms, Investment Banks, Private Equity firms, Venture Capital firms, and other professional or institutional investors.
"Investment Advice" means advice relating to investing in, purchasing, selling, or otherwise dealing in securities or investment products, as defined under SEBI (Investment Advisers) Regulations, 2013.
"Research Report" means any written or electronic communication that includes an analysis of equity securities and provides information reasonably sufficient upon which to base an investment decision.
"Research Services" means preparation or publication of research reports, buy/sell/hold recommendations, price targets, trading calls, IPO analysis, model portfolios, forensic analysis, and related analytical outputs.
"SEBI" means the Securities and Exchange Board of India.
"Subscription" means the paid access to our Platform and Services as per the applicable subscription plan.
"User Content" means any data, files, documents, or information uploaded by you to the Platform for analysis or processing.
4. Description of Services
4.1 Platform Offerings
Mool provides an AI-powered capital market intelligence platform offering:
Rated Opportunities: Continuously updated fundamental views with forensic analysis, driver-based valuations, and catalyst-driven scenarios
On-Demand Analysis: Company research, sector views, peer benchmarks, and valuation analysis produced on request
Bespoke Deliverables: Structured, exportable outputs formatted to client specifications, including equity reports, financial models, memos, and presentations
Data Room Functionality: Secure upload and processing of client files for analysis
4.2 Nature of Services
Research Services: Unless you have entered into a separate Investment Advisory Agreement with us, our Services constitute Research Services under SEBI (Research Analysts) Regulations, 2014. Research Services provide general market insights and recommendations and are not personalized investment advice tailored to your specific financial situation, risk tolerance, or investment objectives.
Investment Advisory Services: If you have executed a separate Investment Advisory Agreement and completed the requisite risk profiling and suitability assessment, you may receive personalized Investment Advice under SEBI (Investment Advisers) Regulations, 2013. Such services are subject to additional terms specified in your Investment Advisory Agreement.
4.3 AI-Powered Services Disclosure
IMPORTANT: In compliance with SEBI guidelines, we disclose that our Platform utilizes artificial intelligence and machine learning technologies extensively in the generation of research outputs. Specifically:
AI systems are used to process financial data, company filings, earnings transcripts, and market information;
Research reports, valuations, and analysis are generated using AI with domain-trained reasoning capabilities;
While AI outputs are validated against filings and market data, they may contain errors or limitations inherent to AI systems;
Users are advised to exercise independent judgment and, where appropriate, seek professional advice before making investment decisions.
4.4 Service Availability
We endeavor to maintain continuous Platform availability but do not guarantee uninterrupted access. Services may be temporarily unavailable due to maintenance, upgrades, or circumstances beyond our control. We will make reasonable efforts to provide advance notice of scheduled maintenance.
5. Subscriptions, Fees, and Payment
5.1 Subscription Plans
Access to certain features of the Platform requires a paid Subscription. Details of available plans, features, and pricing are published on our website. We may offer trial periods at our discretion, subject to separate terms.
5.2 Fees and Billing
You agree to pay all fees associated with your selected Subscription plan. Fees are:
Charged in advance on a monthly or annual basis, as selected;
Non-refundable except as expressly stated herein or required by law;
Exclusive of applicable taxes (GST, withholding tax, etc.), which will be charged additionally;
Subject to change with 30 days' prior notice for renewals.
5.3 Auto-Renewal
Subscriptions automatically renew at the end of each billing period unless cancelled at least 7 days before the renewal date. You authorize us to charge your designated payment method for renewal fees.
5.4 Refund Policy
Fees are generally non-refundable. However, we may consider refund requests in the following circumstances:
Material service failure attributable solely to us, not remedied within a reasonable period;
Duplicate charges or billing errors;
As required under applicable consumer protection laws.
6. User Obligations and Acceptable Use
6.1 Permitted Use
You may use the Platform and Services solely for your internal business purposes, including investment research, analysis, and decision-support in connection with legitimate investment activities.
6.2 Prohibited Conduct
You agree NOT to:
Redistribute or Resell: Share, redistribute, sublicense, resell, or make available our research reports or platform outputs to third parties without express written consent;
Misrepresent Source: Present our research as your own or remove attribution, disclaimers, or proprietary notices;
Market Manipulation: Use our Services to facilitate market manipulation, insider trading, front-running, or any activity prohibited under SEBI regulations or the Securities Contracts (Regulation) Act, 1956;
Unauthorized Access: Attempt to gain unauthorized access to our systems, other user accounts, or data;
Reverse Engineering: Decompile, reverse engineer, or attempt to extract our source code, algorithms, or AI models;
Automated Extraction: Use bots, scrapers, or automated means to extract data or content beyond normal platform use;
Circumvent Controls: Bypass usage limits, access controls, or security measures;
Illegal Activities: Use the Platform for any unlawful purpose or in violation of any applicable law or regulation;
Harmful Content: Upload malware, viruses, or content that could harm our systems or other users.
6.3 Compliance with Laws
You are solely responsible for ensuring that your use of our Services complies with all applicable laws and regulations in your jurisdiction, including securities laws, tax laws, and foreign exchange regulations.
7. User Content and Data
7.1 Ownership
You retain ownership of all User Content you upload to the Platform. We claim no ownership rights over your data.
7.2 License Grant
By uploading User Content, you grant us a limited, non-exclusive, royalty-free license to process, analyze, and use such content solely for the purpose of providing our Services to you. This license terminates upon deletion of your content or termination of your account.
7.3 Data Processing
User Content uploaded to our data room functionality is:
Processed in secure, encrypted environments;
Not used to train AI models - your data is used only to generate your specific outputs;
Subject to automatic deletion in accordance with our data retention policies (typically upon completion of analysis or as specified in your subscription terms);
Protected by enterprise-grade security controls.
7.4 Your Representations
You represent and warrant that you have all necessary rights and permissions to upload User Content and that such content does not infringe any third-party rights or violate any applicable laws, including laws relating to Unpublished Price Sensitive Information (UPSI) under SEBI (Prohibition of Insider Trading) Regulations, 2015.
9. Data Security
We implement reasonable security practices and procedures as required under Section 43A of the Information Technology Act, 2000 and the SPDI Rules, 2011. Our security measures include:
Encryption: Data is encrypted in transit (TLS/SSL) and at rest using industry-standard encryption protocols
Access Controls: Role-based access controls and multi-factor authentication for system access
Security Standards: Our information security program is aligned with ISO/IEC 27001 standards for Information Security Management Systems
Regular Audits: Annual security audits and compliance assessments as required by SEBI regulations
Incident Response: Documented incident response procedures to address any data security breaches
Employee Training: Regular training of personnel on data protection and security practices
9. Important Disclaimers and Risk Disclosures
9.1 No Guarantee of Returns
INVESTMENT IN SECURITIES IS SUBJECT TO MARKET RISKS. THERE IS NO ASSURANCE OR GUARANTEE THAT THE OBJECTIVES OF ANY INVESTMENT STRATEGY OR RECOMMENDATION WILL BE ACHIEVED. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
9.2 Not Personalized Advice
Unless you have entered into a separate Investment Advisory Agreement: Our Research Services provide general information and analysis. They do NOT constitute personalized investment advice, financial planning, or a recommendation to buy, sell, or hold any specific security. The research does not take into account your individual financial situation, investment objectives, or risk tolerance.
9.3 User Responsibility
You are solely responsible for your investment decisions. You should:
Conduct your own due diligence before making any investment;
Consult with qualified financial, legal, and tax advisors as appropriate;
Consider your own financial circumstances and risk tolerance;
Not rely solely on our research for investment decisions.
9.4 AI and Technology Limitations
While we strive for accuracy, AI-Generated Content may contain errors, inaccuracies, or outdated information. Our AI systems:
Process publicly available information and may not reflect real-time market conditions;
May produce outputs that require human verification for accuracy;
Cannot predict future market movements or guarantee accuracy of projections;
Are subject to inherent limitations of machine learning technology.
9.5 Third-Party Information
Our Services incorporate data from third-party sources including stock exchanges, company filings, and data providers. We do not guarantee the accuracy, completeness, or timeliness of such third-party information.
9.6 Disclaimer of Warranties
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PLATFORM AND SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, OR NON-INFRINGEMENT.
10. SEBI Regulatory Disclosures
10.1 Research Analyst Disclosures
In accordance with SEBI (Research Analysts) Regulations, 2014, we disclose:
We may have proprietary positions in securities covered in our research;
Our research analysts are required to disclose their financial interests in covered securities;
Specific disclosures regarding conflicts of interest are included in each research report;
We maintain policies to manage conflicts of interest and ensure research independence.
10.2 Client Segregation
In compliance with SEBI regulations requiring segregation of services, we maintain clear separation between:
Research Services (under RA registration);
Investment Advisory Services (under IA registration, if applicable);
Distribution Services (if any).
Clients receiving Research Services cannot simultaneously avail Distribution Services from us or our group entities for the same securities.
10.3 Investor Charter
Our Investor Charter, setting forth the rights and responsibilities of investors and our service standards, is available on our website at www.mool.ai/investor-charter and forms part of these Terms.
11. Limitation of Liability
11.1 Exclusion of Damages
TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE SHALL NOT BE LIABLE FOR ANY:
Investment losses, trading losses, or diminution in the value of your investments;
Indirect, incidental, special, consequential, or punitive damages;
Loss of profits, revenue, data, goodwill, or business opportunity;
Damages arising from reliance on AI-Generated Content or any research output.
11.2 Liability Cap
Our total aggregate liability under these Terms, whether in contract, tort, or otherwise, shall not exceed the greater of: (a) the fees paid by you to us in the twelve (12) months preceding the claim, or (b) INR 10,000 (Indian Rupees Ten Thousand).
11.3 Exceptions
Nothing in these Terms shall limit our liability for: (a) death or personal injury caused by our negligence; (b) fraud or fraudulent misrepresentation; or (c) any liability that cannot be excluded under applicable law.
12. Indemnification
You agree to indemnify, defend, and hold harmless the Company, its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising from or related to:
Your use of the Services or violation of these Terms;
Your investment decisions or trading activities;
Any User Content you upload or provide;
Your violation of any third-party rights or applicable laws;
Claims arising from redistribution or misuse of our research outputs.
13. Confidentiality
13.1 Obligations
Both parties agree to maintain the confidentiality of Confidential Information received from the other party and to use such information only for the purposes of this Agreement.
13.2 Exceptions
Confidentiality obligations do not apply to information that: (a) is publicly available through no fault of the receiving party; (b) was rightfully known prior to disclosure; (c) is independently developed; or (d) must be disclosed by law or regulatory requirement.
13.3 Regulatory Disclosure
Notwithstanding confidentiality obligations, we may disclose information as required by SEBI, stock exchanges, or other regulatory authorities, or pursuant to valid legal process.
14. Term and Termination
14.1 Term
These Terms commence upon your acceptance and continue until terminated in accordance with this Section.
14.2 Termination by You
You may terminate your account at any time by providing notice through the Platform or by email. Termination does not entitle you to a refund of prepaid fees.
14.3 Termination by Us
We may suspend or terminate your access immediately if you:
Breach these Terms;
Fail to pay applicable fees;
Engage in fraudulent, illegal, or harmful activities;
Fail to complete or maintain valid KYC;
If required by regulatory directive or legal order.
14.4 Effect of Termination
Upon termination:
Your license to use the Platform immediately terminates;
You must cease all use of our Services and research outputs;
We will retain your data as required by SEBI regulations and applicable law;
Provisions intended to survive termination (including Sections 8, 9, 11, 12, 13, and
15. Governing Law and Dispute Resolution
15.1 Governing Law
These Terms shall be governed by and construed in accordance with the laws of India, without regard to conflict of law principles.
15.2 Arbitration
Any dispute, controversy, or claim arising out of or relating to these Terms, or the breach, termination, or invalidity thereof, shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996. The arbitration shall be conducted in English, with a sole arbitrator mutually appointed by the parties, and the seat of arbitration shall be New Delhi, India.
15.3 Jurisdiction
Subject to the arbitration clause above, the courts of New Delhi, India shall have exclusive jurisdiction over any matters arising from these Terms.
15.4 Regulatory Grievance Mechanism
Without prejudice to the above, you may lodge complaints regarding our Research Analyst or Investment Adviser services through:
SEBI SCORES: https://scores.gov.in (for SEBI-registered intermediary complaints)
Stock Exchange Investor Grievance Mechanism: Through the relevant stock exchange's investor services
RAASB/IAASB: Through the Research Analyst/Investment Adviser Administration and Supervisory Bodies
16. General Provisions
16.1 Modifications
We reserve the right to modify these Terms at any time. Material changes will be notified via email or prominent notice on the Platform at least 15 days before becoming effective. Your continued use of the Services after such notice constitutes acceptance of the modified Terms.
16.2 Entire Agreement
These Terms, together with the Privacy Policy, Investor Charter, and any executed service agreements, constitute the entire agreement between you and us regarding the Services.
16.3 Severability
If any provision of these Terms is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.
16.4 Waiver
Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.
16.5 Assignment
You may not assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign our rights and obligations to an affiliate or successor entity.
16.6 Force Majeure
We shall not be liable for any failure or delay in performing our obligations due to circumstances beyond our reasonable control, including natural disasters, war, terrorism, pandemics, government actions, exchange or market closures, or failures of third-party systems.
16.7 Notices
Notices to you may be sent via email to your registered address or through the Platform. Notices to us should be sent to the contact details in Section 17.
17. Contact Information
For questions, concerns, or complaints regarding these Terms or our Services:
Townhall Technologies Private Limited
Operating as: mool.ai
Email: hello@mool.ai
Website: www.mool.ai
18. Acknowledgment
BY CLICKING "I AGREE", REGISTERING FOR AN ACCOUNT, OR USING OUR SERVICES, YOU ACKNOWLEDGE THAT:
You have read and understood these Terms and Conditions;
You agree to be legally bound by these Terms;
You understand and accept the risks associated with investment activities;
You acknowledge that our Services utilize AI technology with inherent limitations;
Unless you have a separate Investment Advisory Agreement, our Services do not constitute personalized investment advice;
You are solely responsible for your investment decisions.
End of Terms & Conditions
