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Section 1. SEBI & MULTI-REGULATOR DISCLAIMER

Effective Date: May 10, 2026

1.1 Corporate Identity

44 Krishverse Solutions Private Limited is a private limited company incorporated under the Companies Act, 2013, bearing CIN: U62099UP2025PTC237116, having its registered office at Elite Golf Green, Sector 79, Noida, Gautam Budh Nagar, Uttar Pradesh, India. It is the sole operator of the website www.futurefunding.in and the associated Platform (the "Platform"). The brand and trade name "FutureFunding" is used and operated exclusively by the Company. References in this Suite to "FutureFunding" or the "Company" are to 44 Krishverse Solutions Private Limited.

1.1A Operating Model

The Company's operating model is set out in the Master Disclosure Statement at the top of this Suite. That statement is the sole and controlling description of how the Platform operates; no provision in this Suite shall be read inconsistently with it.

1.2 Regulatory Non-Application Statement

FutureFunding is a proprietary technology and skill-evaluation services company. FutureFunding categorically declares that it is not, and does not hold itself out to be, any of the following:

Stockbroker / Sub-broker / Trading Member

  • Governing Instrument: SEBI (Stock Brokers) Regulations, 1992
  • Registration Status: Not registered — not applicable
  • Reason for Non-Applicability: The Company does not buy or sell securities on behalf of any client. Where live execution occurs, the Company trades on its own proprietary account through an empanelled SEBI-registered stockbroker; no User is a "client" of any broker through the Company.

Investment Adviser

  • Governing Instrument: SEBI (Investment Advisers) Regulations, 2013
  • Registration Status: Not registered — not applicable
  • Reason for Non-Applicability: The Company does not provide investment advice, recommendations, or financial planning to any User for consideration. Users make all decisions in their independent capacity within a Demo Pro Account.

Research Analyst

  • Governing Instrument: SEBI (Research Analysts) Regulations, 2014
  • Registration Status: Not registered — not applicable
  • Reason for Non-Applicability: The Company does not prepare or disseminate research reports, target prices, or buy/sell calls. Performance feedback within the Platform is technical scoring of a User's own decisions, not securities research.

Portfolio Manager

  • Governing Instrument: SEBI (Portfolio Managers) Regulations, 2020
  • Registration Status: Not registered — not applicable
  • Reason for Non-Applicability: The Company does not manage any client's funds, securities, or portfolio. No User has any portfolio with the Company; Users have only a Demo Pro Account with virtual capital.

Collective Investment Scheme

  • Governing Instrument: SEBI (CIS) Regulations, 1999
  • Registration Status: Not a CIS — see Section 1.4
  • Reason for Non-Applicability: No pooling of User contributions; Challenge Fees are revenue, not corpus; no profit-sharing or income distribution to Users; the four-prong test in Section 11AA SEBI Act fails on every prong (see Section 1.4).

Mutual Fund

  • Governing Instrument: SEBI (Mutual Funds) Regulations, 1996
  • Registration Status: Not applicable
  • Reason for Non-Applicability: No units, scheme, NAV, redemption right, or trust structure. The Company does not raise money from the public for investment in securities.

Alternative Investment Fund

  • Governing Instrument: SEBI (AIF) Regulations, 2012
  • Registration Status: Not applicable
  • Reason for Non-Applicability: No private placement of fund units; no commitment-and-drawdown structure; no investor LP/GP relationship; no AIF Category I, II, or III activity.

Depository Participant

  • Governing Instrument: SEBI (Depositories & Participants) Regulations, 2018
  • Registration Status: Not applicable
  • Reason for Non-Applicability: The Company does not hold dematerialised securities on behalf of any beneficial owner or provide depository services.

Investment Manager / Sponsor

  • Governing Instrument: SEBI Regulations (AIF / REIT / InvIT / MF)
  • Registration Status: Not applicable
  • Reason for Non-Applicability: The Company is not the manager or sponsor of any pooled vehicle, trust, or scheme regulated by SEBI.

Deposit-taking Entity

  • Governing Instrument: BUDS Act, 2019 / Companies Act Section 73–76 / RBI Act Section 45-I
  • Registration Status: Does not accept deposits — see Section 1.5
  • Reason for Non-Applicability: Challenge Fees are non-refundable service consideration with no promise of repayment, interest, or yield; therefore not a "deposit" under Section 2(4) BUDS Act, Section 73 Companies Act, or Section 45-I(bb) RBI Act.

NBFC

  • Governing Instrument: RBI Act, 1934 Section 45-IA
  • Registration Status: Not applicable; no lending or financial activity
  • Reason for Non-Applicability: The Company is not engaged in the business of lending, leasing, hire-purchase finance, investment in securities for principal-business purpose, or any other financial activity within Section 45-I(c) RBI Act. Its principal business is technology services (NIC code 62099).

Payment System Operator

  • Governing Instrument: Payment & Settlement Systems Act, 2007
  • Registration Status: Not applicable
  • Reason for Non-Applicability: The Company does not operate any payment system, payment aggregator, prepaid instrument, or settlement system. All inbound payments are processed through RBI-licensed payment aggregators acting in their own capacity.

1.3 Operating Declarations

The following declarations are made expressly and shall constitute representations under Section 17 of the Indian Contract Act, 1872 if relied upon by any regulator or counterparty:

1.3.1 Demo Pro Accounts; virtual capital. All accounts on the Platform — including evaluation accounts and Pro Accounts — are Demo Pro Accounts with virtual capital. Balances displayed are virtual units of measurement and are not money, securities, e-money, prepaid instruments, claims on the Company, or property of any kind.

1.3.2 Challenge Fee is a service fee for technology access. Challenge Fees paid by Users are consideration for access to the Platform and the associated analytics, scoring, and feedback technology. They are revenue receipts of the Company, accounted under "Service Income". Challenge Fees are not pooled, invested, or deployed in any market activity.

1.3.3 Discretionary, RMS-gated execution on Company capital. Trade Instructions entered by Users may, at FutureFunding's sole and absolute discretion, be executed on Indian exchanges through SEBI-registered stockbrokers engaged by the Company. Every Trade Instruction passes through the RMS, which has the final authority to accept, partially accept, modify, delay, or reject any instruction.

1.3.4 All market capital is Company capital. All capital deployed in any execution is exclusively FutureFunding's own proprietary capital. No User funds, or other monies are deployed in any market transaction at any time. No pooling, comingling, aggregation, or fiduciary holding of User funds occurs.

1.3.5 No User execution right; no broker privity. The User has no independent access to any exchange, broker terminal, broker portal, broker margin, or clearing system; no contractual privity with any broker engaged by the Company; and no right to demand execution of any instruction.

1.3.6 No User-level market risk. The User bears no market risk, has no ownership over any executed position, and has no claim over any trading proceeds. The User cannot suffer market loss, margin call, settlement default, counterparty default, or any real-economic loss arising from market movements. The User's only economic outlay is the non-refundable Challenge Fee.

1.3.7 No client funds; no custody. FutureFunding does not, at any time, hold, receive, or take custody of any client funds, securities, or financial instruments for or on behalf of any User. There is no client–broker, principal–agent, fiduciary, custodian, or trustee relationship.

1.3.8 Stipend characterisation. Stipends paid to Users are discretionary service-linked compensation under the TPA, computed in the manner specified in Section 3.5. They are not distributions of trading profits, not profit-share, not commission, not interest on capital, and not income from any pooled fund.

1.3.9 No solicitation of investment. Nothing on the Platform constitutes: (i) an offer or invitation to subscribe to securities; (ii) an invitation to invest money; (iii) a promise or guarantee of returns, profits, stipends, or Stipends; or (iv) financial, investment, tax, or legal advice.

1.4 Non-CIS Declaration (SEBI CIS Regulations, 1999)

A "Collective Investment Scheme" under Section 11AA of the SEBI Act, 1992 requires the pooling of contributions from investors with a view to receive profits, income, produce, or property from the scheme, managed on behalf of the investors. FutureFunding categorically declares — and the operating model in Section 1.3 fortifies each declaration:

  • (a) No contribution made by any User (whether as Challenge Fee or otherwise) is pooled with that of any other User; Challenge Fees are revenue, not corpus;
  • (b) No User has any expectation, contractual entitlement, or representation of profit, income, or yield derived from any pool, scheme, fund, or live-market activity;
  • (c) No property, security, or income generated from any live-market activity of the Company is for the benefit of, or distributable to, Users in their capacity as contributors. Live-market gains, if any, accrue solely to the Company;
  • (d) Stipends paid to qualified Traders are service-linked discretionary payments from FutureFunding's revenue, payable under a service contract (the TPA), and are not distributions of scheme profits, partnership distributions, or yield from any pool;
  • (e) Users are not "investors" — they are service recipients (in respect of evaluation) and service providers (in respect of the TPA).

Accordingly, the FutureFunding model does not constitute a Collective Investment Scheme within the meaning of Section 11AA of the SEBI Act, 1992.

1.5 Non-Deposit Declaration (BUDS Act, 2019)

Under Section 2(4) of the Banning of Unregulated Deposit Schemes Act, 2019, a "deposit" requires receipt of money by way of advance, loan, or otherwise to be returned with or without interest. FutureFunding categorically declares:

  • (a) Challenge Fees are non-refundable service fees consideration for access to evaluation technology and are not repayable in any circumstance;
  • (b) No User is promised, contractually or otherwise, the return of any sum paid;
  • (c) No User is promised any benefit "in the form of a specified rate of interest or otherwise";
  • (d) Accordingly, the Challenge Fee does not constitute a "deposit" and the FutureFunding business is not an "Unregulated Deposit Scheme" within the meaning of the BUDS Act, 2019.

1.6 Non-Advisory Declaration (SEBI IA Regulations, 2013)

FutureFunding does not, at any time: (a) provide investment advice to any User regarding the purchase, sale, or holding of securities; (b) recommend trading strategies, securities, or market positions; (c) publish or disseminate research reports as defined under the SEBI (Research Analysts) Regulations, 2014. All decisions taken by a User on the Platform are taken in the User's independent capacity, on a Demo Pro Account, and do not — by themselves and absent the Company's discretionary execution decision — result in any market position in the User's name (and never result in a market position in the User's name in any case).

1.6A Skill-Based Service

The simulated trading environment is a technology-based skill evaluation service. It is not: (i) a "game of chance" or "wagering contract" within the meaning of Section 30 of the Indian Contract Act, 1872; (ii) "gambling" or "gaming" within the meaning of the Public Gambling Act, 1867 or analogous State legislation; (iii) a "real-money gaming" service. No User stakes money against another User or against the Company on the outcome of any event. The Challenge Fee is consideration for technology access and skill assessment, with the Stipend (if any) being service compensation under the TPA.

1.7 No Guarantee of Outcome

Past performance of FutureFunding, any Trader, any cohort, any strategy, or any evaluation is not indicative of future results. No representation is made that any User will pass the evaluation, receive a Pro Account, earn any Stipend, or retain Pro Account access for any duration.

1.8 Forum, Jurisdiction & Severability

This Disclaimer shall be governed by and construed in accordance with the laws of the Republic of India. The courts and tribunals at Gautam Budh Nagar (Noida), Uttar Pradesh shall have exclusive jurisdiction, subject to the arbitration clause in Section 2.18. If any provision of this Disclaimer is held invalid by a court of competent jurisdiction, the remaining provisions shall continue in full force.