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Terms of use

TERMS AND CONDITIONS FOR USE OF THIS WEBSITE FOR TRADING

The use of this website for the purpose of online trading in equity, equity derivatives, currency derivatives and / or commodity derivatives and the Stock Broker- Client relationship shall be governed by the following clauses in general and as specifically mentioned in the KYC documents executed by the client for the respective Exchange and market segment:

  1. The client agrees to immediately notify the stock broker in writing if there is any change in the information in the ‘client registration form’ provided by the client to the stock broker at the time of opening of the account or at any time thereafter.
  2. The stock broker declares that it has brought the contents of the risk disclosure document to the notice of client and made him aware of the significance of the said document. The client agrees that:
    1. He has read and understood the risks involved in trading on a stock exchange.
    2. He shall be wholly responsible for all his investment decisions and trades.
    3. The failure of the client to understand the risk involved shall not render a contract as void or voidable and the client shall be and shall continue to be responsible for all the risks and consequences for entering into trades in the segments in which the client chose to trade.
    4. He is liable to pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the stock broker or the exchange or as may be directed by SEBI from time to time as applicable to the segment(s) in which the client trades. The stock broker is permitted in its sole and absolute discretion to collect additional margins (even though not required by the exchange, clearing house/ clearing corporation or SEBI) and the client shall be obliged to pay such margins within the stipulated time.
    5. Payment of margins by the client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the client may, on the closing of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require.
  3. The client agrees to pay to the stock broker brokerage and statutory levies as are prevailing from time to time and as they apply to the client’s account, transactions and to the 8 services that stock broker renders to the client. The stock broker agrees that it shall not charge brokerage more than the maximum brokerage permissible as per the rules, regulations and bye -laws of the relevant stock exchange/ SEBI.
  4. The client agrees to abide by the exposure limits, if any, set by the stock broker or by the exchange or clearing corporation or SEBI from time to time.
  5. Without prejudice to the stock broker’s other rights (including the right to refer a matter to arbitration), the stock broker shall be entitled to liquidate/close out all or any of the client’s positions for non-payment of margins or other amounts, outstanding debts, etc. and adjust the proceeds of such liquidation / close out, if any, against the client’s liabilities/ obligations. Any and all losses and financial charges on account of such liquidation/closing-out shall be charged to and borne by the client.
  6. The stock broker agrees that the money/ securities deposited by the client shall be kept in a separate account, distinct from his/its own account or account of any other client and shall not be used by the stock broker for himself/itself or for any other client or for any purpose other than the purposes mentioned in SEBI rules and regulations circulars/ guidelines/ exchanges rules/regulations/bye-Laws and circulars.
  7. The client agrees to immediately furnish information to the stock broker in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against him or if any litigation which may have material bearing on his capacity has been filed against him.
  8. The stock broker agrees to inform the client and keep him apprised about trading/settlement cycles, delivery/payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the client to comply with such schedules/procedures of the relevant stock exchange.
  9. In the event of death or insolvency of the client or his/its otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the client has ordered to be bought or sold, stock broker may close out the transaction of the client and claim losses, if any, against the estate of the client. The client or his successors, heirs and assigns shall be entitled to any surplus which may result there from.
  10. The stock broker agrees that it shall co-operate in redressing grievances of the client in respect of transactions routed through it and in removing objections for bad delivery of shares, rectification of bad delivery, etc. in respect of shares and securities delivered/to be delivered or received/to be received by the client.
  11. The stock broker shall continue to be responsible for replacing bad deliveries of the client in accordance with applicable “good & bad delivery norms” even after termination of the agreement and shall be entitled to recover any loss incurred by him in such connection from the client.
  12. The stock broker shall ensure due protection to the client regarding client’s rights to dividends, rights or bonus shares, etc. in respect of transactions routed through it and it shall not do anything which is likely to harm the interest of the client with whom and for whom it may have had transactions in securities.
  13. The client and the stock broker agree to refer any claims and/ or disputes to arbitration as per the rules, Bye-laws and regulations of the exchange and circulars issued there under as may be in force from time to time.
  14. The stock broker hereby agrees that he shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered into between him and the client and that he shall be liable to implement the arbitration awards made in such proceedings.
  15. Information about default in payment/delivery and related aspects by a client shall be brought to the notice of the relevant stock exchange(s). In case where defaulting client is a corporate entity/partnership/proprietary firm or any other
    artificial legal entity, then the name(s) of director(s)/ promoter(s)/ partner(s)/ proprietor as the case may be, shall also be communicated to the relevant stock exchange( s).
  16. The stock broker and the client agree to reconcile their accounts at the end of each quarter with reference to all the settlements where payouts have been declared during the quarter.
  17. The stock broker and the client agree to abide by any award passed by the ombudsman under the SEBI (ombudsman) regulations, 2003.
  18. The stock broker and the client declare and agree that the transactions executed on the exchange are subject to rules, Bye-laws and regulations and circulars issued there under of the exchange and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Bye-laws and regulations of the exchange for the purpose of giving effect to the provisions of the rules, Byelaws and regulations of the exchange and the circulars issued there under.
  19. The instructions issued by an authorized representative, if any, of the client shall be binding on the client in accordance with the letter authorizing the said representative to deal on behalf of the said client.
  20. Where the exchange cancels trade(s) suo moto all such trades including the trade/s done on behalf of the client shall ipso facto stand cancelled.
  21. This agreement shall forthwith terminate, if the stock broker for any reason ceases to be a stock broker of the stock exchange including the cessation of membership by reason of the stock broker’s default, death, resignation or expulsion or if the certificate issued by the board is cancelled.
  22. The stock broker and the client shall be entitled to terminate this agreement without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this agreement shall continue to subsist and vest in /be binding on the respective parties or his / its respective heirs, executors, administrators, legal representatives or successors, as the case may be.
  23. In addition to the specific rights set out in this agreement, the stock broker and the client shall be entitled to exercise any other rights which the stock broker or the client may have under the rules, bye-laws and regulations of the exchange and circulars issued there under or rules and regulations of SEBI.
  24. Words and expressions which are used in this agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the rules, Bye-laws and regulations of the exchange and circulars issued there under.
  25. The provisions of this agreement shall always be subject to government notifications, any rules, regulations, guidelines and circulars issued by SEBI and rules, regulations and Beylaws of the relevant stock exchange that may be in force from time to time.
  26. The stock broker hereby undertakes to maintain the details of the client as mentioned in the client registration form or any other information pertaining to the client in confidence and that it shall not disclose the same to any person/ authority except as required under any law/regulatory requirements; provided however that the stock broker may so disclose information about its his client to any person or authority with the express permission of the client.

This agreement can be altered, amended and /or modified by the parties mutually in writing without derogating from the contents of this agreement Provided however, if the rights and obligations of the parties hereto are altered by virtue of change in rules and regulations of SEBI or bye-laws, rules and regulations, the relevant stock exchange, such changes shall be deemed to have been incorporated herein modification of the rights and obligations of the parties mentioned in this agreement.

 
Reference To Arbitration for Disputes, if any arising out of trades on BSE
248(a) All claims (whether admitted or not) difference and disputes between a member and a non–member or non-members (the terms ‘non-member’ and ‘non-members’ shall include a remisier, authorized clerk, a sub broker who is registered with SEBI as affiliated with that member or employee or any other person with whom the member shares brokerage) arising out of or in relation to dealings, transactions and contracts made subject to the Rules, Bye-laws and Regulations of the Exchange or with reference to anything incidental thereto or in pursuance thereof or relating to their construction, fulfillment or validity or in relation to the rights, obligations and liabilities of remisiers, authorized clerks, sub-brokers, constituents, employees or any other persons with whom the member shares brokerage in relation to such dealings, transactions and contracts shall be referred to and decided by arbitration as provided in the Rules, Bye-laws and Regulations of the Exchange.
 
Contract Constitutes Arbitration Agreement
(b) An acceptance whether express or implied of a contract subject to arbitration as provided in sub-clause (a) and with this provision for arbitration incorporated therein shall constitute and shall be deemed to constitute an agreement between the member and the non-member or non-members concerned that all claims (whether admitted or not), differences and dispute of the nature referred to in sub-clause (a) in respect of all dealings, transactions and contracts of a date prior or subsequent to the date of contract shall be submitted to and decided by arbitration as provided in the Rules,Bye-laws and Regulations of the Exchange and that in respect thereof any question whether such dealings, transactions and contracts have been entered into or not shall also be submitted to and decided by arbitration as provided in the Rules, Bye-laws and Regulations of the Exchange.
 
Time period for filing of Arbitration Reference
252 (2)The Arbitrators shall not take cognizance of any claim, complaint, difference or dispute unless the same has been received by the concerned Regional Arbitration Centre of the Exchange within six months from the date of the transaction or from the date on which the client claims to have given the instruction / order to buy or sell a security or from the date on which the client claims to have paid money or given a security, whichever is earlier. Any dispute as to whether a claim, complaint, difference or dispute falls within the ambit of this clause shall be decided by the Arbitrators.

Provided that the Governing Board, or the Managing Director and Chief Operating Officer may, from time to time, appoint Committees, separately for each Regional Arbitration Centre to amicably settle all claims, complaints, differences and disputes that are referred to it.

Provided further that when such claims, complaints, differences and disputes are referred to the aforesaid Committee, the time taken in amicable settlement of such claims, complaints, differences and disputes shall be excluded while computing the period of limitation.

 
Award Binding on Parties and their Representatives
257 The parties to the reference shall in all things abide by and forthwith carry into effect the award of the arbitrators which shall be final and binding on the parties and their respective representatives not with standing the death of or legal disability occurring to any party before or after the making of the award and such death or legal disability shall not operate as a revocation of the reference or award.
 
Operation of Contracts
274 All dealings, transactions and contracts which are subject to the Rules, Bye-laws and Regulations of the Exchange and every arbitration agreement to which the Rules, Bye-laws and Regulations of the Exchange apply shall be deemed in all respects to be subject to the Rules, Bye-laws and Regulations of the Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Bombay and the parties to such dealings, transactions, contracts and agreements shall be deemed to have submitted to the jurisdiction of the Courts in Bombay for the purpose of giving effect to the provisions of the Rules, Bye-laws and Regulations of the Exchange. Provided however that upon the amendments to the Rules, Bye-laws and Regulations with regard to Regional Arbitration Centers and other incidental and consequential matters in connection therewith or relating thereto coming into force, the Courts in Mumbai shall have exclusive jurisdiction in respect of all proceedings to which the Exchange is a party, and in respect of all other proceedings, the Courts having jurisdiction over the area in which the respective Regional Arbitration Centre is situated, shall have jurisdiction..
 
Appeal against Arbitral Award
274A(3) Party dissatisfied with an Award may appeal to the Appeal Bench of the concerned Regional Arbitration Centre against such Award within 15 days of the receipt of such Award.
 
Regulations

15.2 - In every case when a claim, difference or dispute required to be referred to arbitration under the Rules, Bye-laws and Regulations of the Exchange has arisen, any of the parties concerned may submit to the concerned Regional Arbitration Centre of the Exchange an application for arbitration (Form No.1 & Form No.1A) stating therein the value of the claim for jurisdiction.

15.2A The Application for Arbitration shall be filed by the Applicant at the concerned Regional Arbitration Centre referred to in column 1 below covering that State or Union Territory of India, referred to in column 2 below, within which the most recent address / Registered Office address of the constituent, as duly communicated in writing to the member in accordance with law, is located. Provided in respect of a non-resident Indian constituent, the Seat of Arbitration shall be Regional Arbitration Centre which covers the States and Union Territories given in the Column 2, in which lies the address or the registered office address, as the case may be, of the trading member, depending upon corporate or non-corporate membership of the trading member. The hearings shall be held in the concerned Regional Arbitration Centre in which the Applicant has duly filed the Application for Arbitration.

Column 1 Column 2
   
Regional Arbitration Centres States and Union Territories covered by the Regional Arbitration CentresCentres
   
BSE Investor Service Centre
7th Floor, Mercantile House
K G Marg, New Delhi - 110 001.
Telephone Number:011-41510481
Telefax No.:011-41510480
Delhi, Haryana, Uttar Pradesh, Uttaranchal, Himachal Pradesh, Punjab, Jammu & Kashmir, Chandigarh, Rajasthan
   
BSE Investor Service Centre
1st Floor, Kishor Bhaban
17, R. N. Mukherji Road
Kolkata –700 001
Telephone Number:033-22133184,
Telefax No.:033-22130530
West Bengal, Bihar, Jharkhand, Orissa, Assam, Arunachal Pradesh, Mizoram, Manipur, Sikkim, Meghalaya, Nagaland, Tripura, Chhattisgarh
   
BSE Investor Service Centre
4th floor, Exchange Building
No. 11, Second Line Beach
Chennai – 600 001
Telephone Number:044-42163999
Telefax No.:044-42164999
Andhra Pradesh, Karnataka, Kerala, Tamilnadu, Andaman & Nicobar, Lakshadweep, Pondicherry
   
Bombay Stock Exchange Limited
Department of Investor Services,
P J Towers, 1st floor, Dalal Street,
Fort, Mumbai – 400001.
Telephone No: 022-22721233/34
Fax No.: 022-22723677
Maharashtra, Gujarat, Goa, Daman & Diu, Dadra & Nagar Haveli, Madhya Pradesh
   
It is advised to confirm the address of the concerned Regional Arbitration Centre from the Exchange’s website www.bseindia.com.
 
JURISDICTION OF COURTS

Upon the amendments to the Rules, Bye-laws and Regulations with regard to Regional Arbitration Centers and other incidental and consequential matters in connection therewith or relating thereto coming into force, the Courts in Mumbai shall have exclusive jurisdiction in respect of all proceedings to which the Exchange is a party, and in respect of all other proceedings, the Courts having jurisdiction over the area in which the respective Regional Arbitration Centre is situated, shall have jurisdiction.

Please Verify Your Trades On The BSE WebSite At www.bseindia.com.

 

 
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NSE SEBI Regn. No.
BSE SEBI Regn. No.
MCX-SX SEBI Regn. No.
United Stock Exchange SEBI Regn. No.

: INB 230886533;INF 230886533; INE230886533
: INB010886530, INF010886530, INE010886530

: INE260886533
: INE270886533

Delhi Stock Exchange SEBI Regn. No. : INB050886531
NCDEX FMC Regn. No. : NCDEX / TCM / CORP/ 0249
MCX FMC Regn. No. : MCX / TCM / CORP / 1362

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