Refund & Cancellation Policy

1. Policy Overview & Operational Scope

This Refund and Cancellation Policy outlines the operational rules, conditions, and statutory frameworks under which fees, retainers, product subscriptions, and advisory engagements are governed by Prosperis Financial Advisory ("Prosperis", "We", "Us", or "Practice"), headed by Mayank Verma (Master of Financial Planning & Master of Banking and Finance, Melbourne, Australia; AMFI ARN: 361974; IRDA IC38 Certified).

Because Prosperis provides a multi-disciplinary practice spanning regulated financial distribution (Mutual Funds, Insurance) and professional advisory mandates (Business Funding, M&A, Accounting, Real Estate), refund terms are structured according to the statutory authority governing each specific service line.

2. Mutual Fund Investments & Securities (AMFI / SEBI Rules)

• Unit Allotment & Redemption: All purchases, redemptions, Systematic Investment Plans (SIPs), and switches are processed directly by the AMCs in accordance with SEBI guidelines and prevailing Net Asset Value (NAV) cut-off timings.
• Distributor Non-Liability for Redemptions: Because Prosperis does not hold your investment capital, no refund requests lie against Prosperis for mutual fund investments. If you wish to exit, pause, or liquidate an investment, you may place an official redemption request through the AMC portal, our client portal, or by instructing our desk. Redemption proceeds are credited directly to your registered bank account by the mutual fund scheme, subject to applicable exit loads and scheme settlement cycles (typically T+1 to T+3 working days).
• Zero Entry Load: In strict compliance with SEBI circulars, Prosperis charges zero upfront entry load or commission fees to investors for mutual fund transactions. Distributor remuneration is paid directly by the AMC out of the scheme's Total Expense Ratio (TER).

3. Insurance Policies & Statutory 15/30-Day "Free-Look" Period

All Life, General, and Health insurance policies facilitated through Prosperis are underwritten by IRDAI-regulated insurance companies. As a policyholder, your rights are fully protected under the Insurance Regulatory and Development Authority of India (Protection of Policyholders' Interests) Regulations:

• Statutory Free-Look Right: Every individual retail policyholder is entitled to a statutory "Free-Look Period" of fifteen (15) days (or thirty (30) days for policies obtained via distance marketing or electronic modes) from the date of receipt of the insurance policy document.
• Grounds for Cancellation: If you disagree with any terms, exclusions, premium rates, or disclosures in the issued policy document, you may cancel the policy within the Free-Look window by submitting a written notice directly to the insurance company or requesting our assistance.
• Insurer Refund Calculation: In accordance with IRDAI rules, upon valid Free-Look cancellation, the insurance company will refund the gross premium received, deducting only:
  1. Proportionate risk premium covering the days the insured risk was active;
  2. Expenses incurred by the insurer for pre-policy medical examinations; and
  3. Statutory government stamp duty charges paid on the policy bond.
• Prosperis does not levy any administrative cancellation charges on statutory insurance Free-Look refunds.

4. Advisory Retainers & Strategic Mandates (Funding & M&A)

Engagements involving Business Funding (Debt Syndication, Equity Placement, Grants), Mergers & Acquisitions, and Financial Due Diligence are governed by specific written Mandate Agreements:

• Pre-Commencement Cancellation: If a client delivers written notice of termination before Prosperis has commenced formal financial analysis, Detailed Project Report (DPR) drafting, or data-room creation (within 48 hours of mandate signing), any upfront retainer fee will be refunded, less a 10% administrative onboarding charge.
• Work in Progress (Non-Refundable Retainer): Once financial modeling, valuation architecture, teaser drafting, pitch deck preparation, or institutional lender outreach has commenced, retainers represent compensation for professional time, specialized financial architecture, and overhead, and are strictly non-refundable.
• Success / Milestone Fees: Success fees for loan syndications or equity raises become payable strictly upon the achievement of the agreed milestone (e.g. issuance of a formal lender sanction letter or executed investor term sheet) as outlined in the Mandate Agreement. Once earned upon successful milestone delivery, success fees are non-refundable under all circumstances.
• Lender Underwriting Outcomes: As stated in our Regulatory Disclaimers, sanction and disbursement terms remain at the sole discretion of the lending institutions, commercial banks, or investors. A loan rejection or revised loan sanction amount by a bank does not entitle the client to a refund of advisory fees incurred for modeling and advisory representation.

5. Accounting, GST & Corporate Compliance Retainers

For monthly or quarterly bookkeeping, GST filing, and financial accounting retainers:

• Notice Period: Clients may terminate ongoing accounting retainers at any time by providing thirty (30) calendar days' written notice to contact@prosperisfa.com.
• Completed Periods: Fees paid for accounting periods that have already been closed, reconciled, or for which statutory GST, TDS, or income tax filings have been submitted are strictly non-refundable.
• Prepaid Unused Quarters: If a client prepaid for annual accounting services and terminates midway, fees for future unused calendar quarters will be refunded on a pro-rata basis, subject to a reconciliation handover charge.

6. Non-Refundable Statutory & Third-Party Disbursements

Under no circumstances are the following third-party statutory disbursements refundable by Prosperis:

• Government portal fees paid to the Ministry of Corporate Affairs (MCA), GSTN, or Income Tax Department;
• Stamp duty, franking fees, and court documentation charges;
• Independent Chartered Accountant (CA) statutory audit or net-worth certification charges;
• Third-party registered IBBI valuer fees or techno-economic viability (TEV) study consultant fees;
• Commercial bank and institutional lender administrative processing fees.

7. Refund Request Submission Procedure

To initiate an eligible refund or cancellation inquiry:

1. Submit an official written request from your registered email address to contact@prosperisfa.com with the subject line: [Refund Request] - [Client Name / Mandate Reference].
2. State the specific service line, invoice or transaction reference number, payment date, and clear reasons for the cancellation.
3. Attach proof of payment and your verified cancelled cheque or bank statement showing your registered account number and IFSC code.

8. Review Timelines & Banking Payment Modes

All refund requests are acknowledged within two (2) business days and formally audited by practice leadership within seven (7) to fourteen (14) business days.

Strict AML Anti-Money Laundering Rule: Approved refunds will be disbursed strictly to the original banking channel or registered bank account from which the payment originated via NEFT/RTGS. In strict adherence to the Prevention of Money Laundering Act (PMLA, 2002), under no circumstances will refunds be issued in cash, bearer instruments, or to unrelated third-party bank accounts.

9. Dispute Resolution & Exclusive Bhopal Jurisdiction

This Refund and Cancellation Policy is governed by and construed in accordance with the laws of the Republic of India. In the event of any dispute, claim, or controversy arising out of or relating to fee payments, retainer cancellations, or services, the parties shall first attempt amicable resolution through good-faith consultation. If unresolved within thirty (30) days, the courts of competent jurisdiction in Bhopal, Madhya Pradesh, India shall have exclusive territorial and subject-matter jurisdiction.

10. Grievance Redressal & Practice Lead Contact

For any queries regarding this policy, billing clarifications, or fee escalations, please contact our Practice Lead: