PLEASE READ THESE TERMS AND CONDITIONS OF SERVICE BEFORE USING THIS SITE. By continuing to access or use or linking to, this Web site or any service on this site, you signify YOUR ACCEPTANCE OF THESE TERMS AND CONDITIONS OF SERVICE. From time to time, The (ET), a division of Bennett, Coleman & Co. Ltd. (BCCL), may modify these terms and conditions.

Accordingly, please continue to review these terms and conditions of service whenever accessing or using this site. Your use of the site, or any service on this site, after the posting of modifications to these terms and conditions of service will constitute YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF SERVICE, as modified. If, at any time, you do not wish to accept the terms and conditions of service, you may not use the site. Any terms and conditions proposed by you which are in addition to or which conflict with these terms and conditions of service are expressly rejected by ET and shall be of no force or effect.

1. User Consent to Terms and Conditions of Service.

You represent that you have read and agree to be bound by the terms and conditions of service ("TOS") of www.etintelligence.com .

You further agree:

(a) to comply with Indian and other applicable laws regarding the transmission of any data obtained from the Service (as defined herein) in accordance with the TOS,
(b) not to use the Service for illegal purposes, and
(c) not to interfere or disrupt networks connected to the Service.

2. Intellectual Property.

This Web site, including but not limited to text, content, photographs, video, audio and graphics (the "Service"), is protected by copyrights, trademarks, service marks, international treaties and/or other proprietary rights and laws of India and other countries. The Service is also protected as a collective work or compilation under the Indian Copyright and other laws and treaties. All individual articles, columns and other elements making up the Service are also copyrighted works. You agree to abide by all applicable copyright and other laws, as well as any additional copyright notices or restrictions contained in the Service. Upon linking to this Web site pursuant to these TERMS, you will be granted a non-exclusive, non-transferable, royalty-free license to use the ET mark solely for providing an underlined, textual link from your Web site to www.etintelligence.com. No other use of ET's or BCCL's marks or name is permitted without express prior written permission from BCCL

3. Restrictions on Use:

You may not use the Service for any illegal purpose or in any manner inconsistent with the TOS. You agree to use the Service solely for your own non-commercial use and benefit, and not for resale or other transfer or disposition to, or use by or for the benefit of, any other person or entity. You agree not to use, transfer, distribute or dispose of any information contained in the Service in any manner that could compete with the business of ET. You acknowledge that the Service has been developed, compiled, prepared, revised, selected and arranged by ET and others (including certain other information sources) through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort and money and constitutes valuable intellectual property and trade secrets of and such others. You agree to protect the proprietary rights of ET and all others having rights in the Service during and after the term of this agreement and to comply with all reasonable written requests made by ET or its suppliers of content, equipment or otherwise ("Suppliers") to protect their and others' contractual, statutory and common law rights in the Service. You agree to notify ET in writing promptly upon becoming aware of any unauthorized access or use of the Service by any party or of any claim that the Service infringes upon any copyright, trademark or other contractual, statutory or common law rights.

4. Further Restrictions on Use.

YOU MAY NOT COPY, REPRODUCE, RECOMPILE, DECOMPILE, DISASSEMBLE, REVERSE ENGINEER, DISTRIBUTE, PUBLISH, DISPLAY, PERFORM, MODIFY, UPLOAD TO, CREATE DERIVATIVE WORKS FROM, TRANSMIT OR IN ANY WAY EXPLOIT ANY PART OF THE SERVICE, EXCEPT THAT YOU MAY DOWNLOAD MATERIAL FROM THE SERVICE AND/OR MAKE ONE PRINT COPY FOR YOUR OWN PERSONAL, NONCOMMERCIAL USE, PROVIDED THAT YOU RETAIN ALL COPYRIGHT AND OTHER PROPRIETARY NOTICES. THE ANALYSIS AND PRESENTATION INCLUDED IN THE SERVICE MAY NOT BE RECIRCULATED, REDISTRIBUTED OR PUBLISHED BY YOU WITHOUT ECONOMICTIMES' S PRIOR WRITTEN CONSENT. MODIFICATION OF THE SERVICE'S CONTENT WOULD BE A VIOLATION OF ECONOMICTIMES'S COPYRIGHT AND OTHER PROPRIETARY RIGHTS. ADDITIONALLY, YOU MAY NOT OFFER ANY PART OF THE SERVICE FOR SALE OR DISTRIBUTE IT OVER ANY OTHER MEDIUM INCLUDING BUT NOT LIMITED TO OVER-THE-AIR TELEVISION OR RADIO BROADCAST, A COMPUTER NETWORK OR HYPERLINK FRAMING ON THE INTERNET WITHOUT THE PRIOR WRITTEN CONSENT OF ECONOMICTIMES. THE SERVICE AND THE INFORMATION CONTAINED THEREIN MAY NOT BE USED TO CONSTRUCT A DATABASE OF ANY KIND. NOR MAY THE SERVICE BE STORED (IN ITS ENTIRETY OR IN ANY PART) IN DATABASES FOR ACCESS BY YOU OR ANY THIRD PARTY OR TO DISTRIBUTE ANY DATABASE SERVICES CONTAINING ALL OR PART OF THE SERVICE. YOU MAY NOT USE THE SERVICE IN ANY WAY TO IMPROVE THE QUALITY OF ANY DATA SOLD OR CONTRIBUTED BY YOU TO ANY THIRD PARTY. FURTHERMORE, YOU MAY NOT USE ANY OF ECONOMICTIMES'S TRADEMARKS, TRADE NAMES OR SERVICE MARKS IN ANY MANNER WHICH CREATES THE IMPRESSION THAT SUCH NAMES AND MARKS BELONG TO OR ARE ASSOCIATED WITH YOU OR ARE USED WITH ECONOMICTIMES'S CONSENT, AND YOU ACKNOWLEDGE THAT YOU HAVE NO OWNERSHIP RIGHTS IN AND TO ANY OF THESE NAMES AND MARKS. YOU WILL NOT USE THE SERVICE OR THE INFORMATION CONTAINED THEREIN IN UNSOLICITED MAILINGS OR SPAM MATERIAL. YOU WILL NOT USE ANY OF ECONOMICTIMES'S TRADEMARKS, TRADE NAMES OR SERVICE MARKS IN UNSOLICITED MAILINGS OR SPAM MATERIAL. YOU WILL NOT SPAM OR SEND UNSOLICITED MAILINGS TO ANY PERSON OR ENTITY USING THE SERVICE. YOU AGREE TO COMPLY WITH ANY OTHER APPLICABLE TERMS AND CONDITIONS OF SERVICE SET FORTH ON THE SERVICE, INCLUDING THE LINKING AND FRAMING POLICY.

5. License.

You acquire absolutely no rights or licenses in or to the Service and materials contained within the Service other than the limited right to utilize the Service in accordance with the TOS. Should you choose to download content from the Service, you must do so in accordance with the TOS. Such download is licensed to you by ET ONLY for your own personal, noncommercial use in accordance with the TOS and does not transfer any other rights to you.

6. Rights Reserved.

All present and future rights in and to trade secrets, patents, copyrights, trademarks, service marks, know-how and other proprietary rights of any type under the laws of any governmental authority, domestic or foreign, including rights in and to all applications and registrations relating to the Service (the "Intellectual Property Rights") shall, as between you and ET, at all times be and remain the sole and exclusive property of ET. All present and future rights in and title to the Service (including the right to exploit the Service and any portions of the Service over any present or future technology) are reserved to ET ETfor its exclusive use. Except as specifically permitted by the TOS, you may not copy or make any use of the Service or any portion thereof. Except as specifically permitted herein, you shall not use ET's Intellectual Property Rights or the Service, or the names of any individual participant in, or contributor to, the Service, or any variations or derivatives thereof, for any purpose, without ET's prior written approval.

7. Registration

On registration, you must provide ET with accurate, complete registration information and it is your responsibility to inform ET of any changes to that information (including in particular your e-mail address) by e mailing to etigadmin@timesgroup.com.

Each registration is for a single user only. On registration, you will choose a user name and password. ET does not permit any of the following:

- any other person sharing your user name and password;
- access through a single name and password being made available to multiple users on a network.

You are responsible for all use of the Site made by you or anyone else using your user name and password (collectively, "ID") or using your mobile telephone to access the WAP Site and for preventing unauthorised use of your ID. If you believe there has been any breach of security such as the disclosure, theft or unauthorised use of your ID or any payment information, you must notify ET immediately by e-mailing to etigadmin@timesgroup.com. Subscription amount is nonrefundable.

If you register to use the free e-mail service on the Site, you must not use the service to send, or use or re-use any material which is unlawful, threatening, abusive, libellous or indecent or which infringes copyright or other rights of third parties or which contains any other form of illegal content. You must not use the service to send any chain e-mails or SMS messages or "spam".

8. Linking and Framing Terms and Conditions ("L&F Terms"):

i. Your continued establishment of a link to this Web site or your continued framing of this Web site after the posting of modifications to the L&F TERMS will constitute YOUR ACCEPTANCE OF THE L&F TERMS, as modified. If, at any time, you do not wish to accept the L&F TERMS, you must discontinue linking to or framing this Web site. Any terms and conditions proposed by you which are in addition to or which conflict with these L&F TERMS are expressly rejected by ET and shall be of no force or effect.

ii. Restrictions on Linking to the Home Page of this Web Site: Without limiting the provisions contained in the TOS, you may include a link(s) on your Web site to the www.ET.com home page, currently located at http:// www.etintelligence.com ("Home Page"); provided that you first fill out the registration form below. In addition, you may not link to www.etintelligence.com any site containing inappropriate, profane, defamatory, infringing, obscene, indecent or unlawful topics, names, material or information, or material or information that violates any applicable intellectual property, proprietary, privacy or publicity rights.

iii. Restrictions on Other Linking and Framing Activities:

ET is concerned about the integrity of this Web site when it is accessed in a manner solely determined by third parties or viewed in a setting solely created by third parties. Specifically, ET is concerned with activities such as linking to an internal or subsidiary page of this Web site that is located one or several levels down from the Home Page ("deep linking"), or bringing up or presenting content of this Web site within another Web site ("framing"). In this regard, without limiting the provisions contained in the TOS, you must make a specific request for, and secure permission from ET prior to deep linking to, or framing, this Web site or any of its content, or engaging in similar activities. If you would like to deep link to or frame this Web site, or any of its content, you must seek permission from ET by writing to www.etintelligence.com. Please include: (a) your name, e-mail address, and telephone number; (b) the name of your company; (c) the Web site address (es) where the proposed deep linking or framing will occur; and (d) specific details about the contemplated deep linking or framing activities, including the content or Web page(s) of this Web site to which you would like to deep link or frame.

iv. The Site contains links to other World Wide Web sites and may contain links to other WAP sites provided by independent third parties ("Third Party Sites"), either directly or through frames. Where possible, ET will make clear where such links are being made, though Third Party Sites may be co-branded with ET and so include ET's trade mark. ET is not responsible for the availability or content of Third Party Sites and will not be a party to, or in any way responsible for, any transaction concerning goods or services available from such Third Party Sites. www.etintelligence.com

v. Notwithstanding the provisions of this Section 8, ET's liabilities will not be limited in the case of death or personal injury directly caused by ET's negligence.

8. NO WARRANTIES, EXCLUSION OF DAMAGES, LIMITATION OF LIABILITY AND EXCLUSIVE REMEDY

The Content is only for your general information and use and is not intended to address your particular requirements. In particular, the Content does not constitute any form of advice, recommendation or arrangement by ET and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangements made between you and any third party named on this Site are at your sole risk and responsibility.

NO WARRANTIES BECAUSE OF THE NUMBER OF SOURCES FROM WHICH ET OBTAINS CONTENT AND THE NATURE OF ELECTRONIC DISTRIBUTION VIA THE INTERNET AND MOBILE TELEPHONES (OR OTHER PORTABLE ELECTRONIC DEVICES), ET DOES NOT GIVE ANY WARRANTIES IN RESPECT OF THE SITE, CONTENT, SOFTWARE OR SERVICES AVAILABLE THROUGH THE SITE COLLECTIVELY, "SITE SERVICES"). IN PARTICULAR, THE SITE SERVICES ARE PROVIDED ON AN "AS IS", "WITH ALL FAULTS" AND "AS AVAILABLE" BASIS. TO THE EXTENT ALLOWED BY APPLICABLE LAW, ET HEREBY DISCLAIMS ALL WARRANTIES, CONDITIONS OR DUTIES OF EVERY NATURE WHATSOEVER (EXCEPT ANY DUTIES OF GOOD FAITH), INCLUDING WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR PURPOSE, ANY EXPRESS OR STATUTORY WARRANTIES, AND ANY WARRANTIES OR DUTIES REGARDING ACCURACY, TIMELINESS, COMPLETENESS, PERFORMANCE, LACK OF NEGLIGENCE OR OF WORKMANLIKE EFFORT.ADDITIONALLY, ET MAKES NO WARRANTY THAT THE SITE SERVICES ARE YEAR 2000 COMPLIANT OR FREE FROM INFECTION BY VIRUSES OR ANYTHING ELSE THAT HAS CONTAMINATING OR DESTRUCTIVE PROPERTIES.

ALSO, ET DOES NOT PROVIDE ANY WARRANTY AGAINST INFRINGEMENT OR OF TITLE OR QUIET ENJOYMENT AND MAKES NO EXPRESS WARRANTIES.

NO INCIDENTAL OR CONSEQUENTIAL DAMAGES TO THE FULL EXTENT ALLOWED BY APPLICABLE LAW, YOU AGREE THAT ET WILL NOT BE LIABLE TO YOU AND/OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL OR INCIDENTAL DAMAGES (INCLUDING BUT NOT LIMITED TO LOST PROFITS, LOSS OF PRIVACY OR FOR FAILURE TO MEET ANY DUTY INCLUDING BUT NOT LIMITED TO ANY DUTY OF GOOD FAITH, LACK OF NEGLIGENCE OR OF WORKMANLIKE EFFORT) OR FOR ANY OTHER INDIRECT, SPECIAL, OR PUNITIVE DAMAGES WHATSOEVER THAT ARISE OUT OF OR ARE RELATED TO THE SITE SERVICES OR TO ANY BREACH OF THE TERMS BY ET, EVEN IF ET HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND EVEN IN THE EVENT OF FAULT, TORT (INCLUDING NEGLIGENCE) OR STRICT LIABILITY.

9. LIMITATION ON DAMAGES & EXCLUSIVE REMEDY:

YOU AGREE THAT YOUR ONLY RECOVERY FOR ANY DAMAGES THAT YOU INCUR, ANDYOUR EXCLUSIVE REMEDY, SHALL BE LIMITED TO THE DIRECT DAMAGES YOU ACTUALLY INCUR IN REASONABLE RELIANCE ON THE APPLICABLE SITE SERVICE UP TO A LIMIT OF THE FOLLOWING, AT ET'S ELECTION: (1) A REFUND OF THE AMOUNT YOU PAID ET (IF ANY) IN TOTAL DURING THE MONTH IN WHICH THE DAMAGE IS FIRST INCURRED, LESS ANY REASONABLE ALLOWANCE FOR COMPLYING SERVICES, OR (2) CORRECTION OR REPLACEMENT OF THE SERVICE. ALL LIMITATIONS WILL APPLY TO ALL LEGAL AND EQUITABLE THEORIES.

10. Further Disclaimer and Limitation of Liability.

You acknowledge that (i) the Service is provided for information purposes only and is not intended for trading purposes, (ii) the Service includes information taken from various sources, (iii) ET does not guarantee the sequence, accuracy, completeness or timeliness of the Service and (iv) the provision of certain parts of the Service is subject to the terms and conditions of other agreements to which Economictimes is a party. Accordingly, anything to the contrary herein set forth notwithstanding, Economictimes, its officers and employees, general partner, affiliates, subsidiaries, successors and assigns, Suppliers and its third-party agents shall not, directly or indirectly, be liable, in any way, to you or any other person for any:
(i) inaccuracies or errors in or omissions from the Service including, but not

limited to, quotes and financial data;

(ii) delays, errors or interruptions in the transmission or delivery of the Service; or

(iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

11. Limitation of Liability.

UNDER NO CIRCUMSTANCES, INCLUDING BUT NOT LIMITED TO NEGLIGENCE, SHALL ECONOMICTIMES, ITS SUPPLIERS AND ITS THIRD-PARTY AGENTS BE LIABLE TO YOU FOR DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES EVEN IF AN ECONOMICTIMES AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED SPECIFICALLY OF THE POSSIBILITY OF SUCH DAMAGES, ARISING FROM USE OF OR INABILITY TO USE THE SERVICE OR ANY LINKS OR ITEMS ON THE SERVICE OR ANY PROVISION OF THE TOS, SUCH AS, BUT NOT LIMITED TO, LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS. Applicable law may not allow the limitation or exclusion of liability or incidental or consequential damages. In no event shall Economictimes's total liability to you for all damages, losses and causes of action (whether in contract or tort, including but not limited to, negligence) exceed the amount paid by you, if any, for accessing this site.

12. Representations and Warranties:

You represent, warrant and covenant that: (a) you have the power and authority to enter into this agreement; (b) you are at least eighteen (18) years old; (c) you shall not use any rights granted hereunder for any unlawful purpose; and (d) you shall use the Service only as set forth in the TOS.

13. Indemnification.

You agree, at your own expense, to indemnify, defend and hold harmless Economictimes and its employees, representatives, Suppliers and agents, against any claim, suit, action or other proceeding brought against Economictimes, its employees, representatives, Suppliers and agents, by a third party, to the extent that such claim, suit, action or other proceeding brought against Economictimes, its employees, representatives, Suppliers and agents is based on or arises in connection with the Service, or any links on the Service, including, but not limited to: (i) your use or someone using your computer's use of the Service; (ii) your use or someone using your account, where applicable; (iii) a violation of the TOS by you or anyone using your computer (or account, where applicable); (iv) a claim that any use of the Service by you or someone using your computer (or account, where applicable) infringes any Intellectual Property Right (as herein defined) of any third party, or any right of personality or publicity, is libelous or defamatory, or otherwise results in injury or damage to any third party; (v) any deletions, additions, insertions or alterations to, or any unauthorized use of, the Service by you or someone using your computer (or account, where applicable); (vi) any misrepresentation or breach of representation or warranty made by you contained herein: or (vii) any breach of any covenant or agreement to be performed by you hereunder. You agree to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.

14. Termination

Either you or Economic Times may terminate the TOS with or without cause at any time and effective immediately. You may terminate the TOS by discontinuing use of the Service and destroying all materials obtained from the Service. These TOS will terminate immediately without notice from Economictimes if you, in Economictimes's sole discretion, fail to comply with any provision of these TOS. Upon termination by you or upon notice of termination by Economictimes, you must destroy promptly all materials obtained from the Service and any copies thereof. Sections ____ shall survive any termination of the TOS.

15. Governing Law.

These TOS shall be governed and construed in accordance with the laws of India. You agree to submit to the personal jurisdiction of the courts located in Mumbai in the State of Maharastra with respect to any legal proceedings that may arise in connection with the Service or from a dispute as to the interpretation or breach of the TOS.

16. Access Outside the United States.

Economic Times does not represent that materials in the Service are appropriate or available for use in countries outside the India. If you choose to access the Service from outside India, you are responsible for compliance with foreign and local laws. Software from the Service is further subject to Indian export controls and may not be downloaded, exported or re-exported

17. Miscellaneous.

You accept that ET has the right to change the content or technical specifications of any aspect of the Service at any time at ET's sole discretion. You further accept that such changes may result in your being unable to access the Service.

18. Headings.

The section titles in the TOS are used solely for the convenience of you and Economictimes and have no legal or contractual significance.

19. Severability

If any provision of the TOS is found invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these TOS will remain in force.

20. Entire Agreement

The TOS and any other terms and conditions of service on www.etintelligence.com, and its successor, constitute the entire agreement between you and Economic Times and govern your use of the Service.