Some Frequently asked questions by Investors

G u i d i n g L i g h t

Introduction

National Stock Exchange of India is India's leading stockexchange set up as a company limited by shares andrecognised in the year April 1993. NSE has set upinfrastructure that serves as a role model for thesecurities industry in terms of trading systems, clearingand settlement practices and procedures. The standardsset by NSE in terms of market practices, products andtechnology have become industry benchmarks and arebeing replicated by many other market participants. Itprovides screen-based automated trading system witha high degree of transparency and equal access toinvestors irrespective of geographical location. The highlevel of information dissemination through on-line systemhas helped in integrating retail investors across thenation. The Exchange has a network in more than 350cities (March end 2003) across the geographical areaof the country and reports an average daily turnover ofabout Rs. 2,158 crores and 8.85 lakh trades in the cashmarket per day. The Wholesale Debt Market Segmentof NSE, which provides a trading platform forGovernment Securities, also has been reporting recordturnover and at times surpasses the volume in the cashmarket. The Derivatives Market has been on adeveloping trend with introduction of Index Futures,Stock Futures, Stock and Index Options on individualsecurities. The Exchange has also introduced retailtrading in government securities.

At NSE, we strive to continuously upgrade our servicelevels and make the system more investor friendly. Sinceinvestors are the backbone of the securities market,awareness among investors is the foremost concern. Itis of paramount importance to all concerned to protectthe interest of the investors. However, the endeavour tosafeguard the interest of the investors will have limitedeffect unless investors exercise certain precautions whilemaking investment decisions. This booklet is meant toeducate the investors in respect of the various marketpractices and serve as a quick reference guide.

Topics

Pg. Nos.

1. Queries pertaining to Issues

prior to trading on NSE 8

• Dealing through NSE trading

member/SEBI registered sub-broker 8

• Registration as a client 10

• Performance of Companies 12

2. Trading related Issues 13

• Giving purchase /sale instructions 14

• Price at which traded 14

• Contract Note 15

• Brokerage 17

• Documents to be given by

TM/Registered Sub Broker 18

3. Clearing and Settlement

related Issues 19

• Rolling settlement 20

• Pay-in/Pay-out of securities and funds 20

• Settlement Guarantee Fund 22

• Demat Settlement 23

• Auction of shares 26

4. Redressal of Complaints 27

• Complaints to be addressed to 28

• Investor Protection Fund 33

5. Investors Rights and Obligations 34

6. Forms and Proforma of

Contract notes 35

7. Investor Service Centres 43

Some Frequently AskedQuestions by Investors

Queries pertaining to Issues prior to trading on the NSE

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Queries pertaining to Issuesprior to trading on the NSE

Dealing through NSE trading member/SEBI registered sub-broker

1. Where do I go for buying/selling ofshares?

To buy or sell securities you could approach eitherSEBI registered trading member of the NSE, orSEBI registered sub-broker of a trading memberof the NSE

2. What care should I take while investing?

Before making any investment, you must ensurethat you:

1. obtain written documents explaining theinvestment,

2. read and understand such documents,

3. verify the legitimacy of the investment,

4. find out the costs and benefits associated withthe investment,

5. assess risk-return profile of the investment,

6. know the liquidity and safety aspects of theinvestment,

7. ascertain if it is appropriate for your specificgoals,

8. compare these details with other investmentopportunities available,

9. examine if it fits with other investments youare considering or you have already made,

10. deal only through an authorised intermediary,

11. seek all clarifications about the intermediaryand the investment,

12. explore the options available to you if some

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thing goes wrong, and then, if satisfied, makethe investment. We call this the Twelve Stepsto Investing.

3. Why should I trade on a Stock Exchange?

Any trade in securities outside stock exchangesother than spot transactions, are illegal. Henceyou do not get any protection if you trade outsidean exchange. Besides, the stock exchange likeNSE offers a ready market for your securities. Ifyou are trading outside an exchange, you have towaste considerable time to find out the right personwho is willing to undertake a correspondingtransaction with you. Other benefits of trading onan exchange include: you have the right to receivethe best price prevailing at that time for the trade;you do not take counterparty risk which isassumed by a clearing corporation; you haveaccess to the investor grievance redressalmechanism of stock exchanges; you haveprotection upto a limit from the Investor ProtectionFund and you have access to all company relatedinformation to enable an informed decision, etc.

4. Is it necessary to deal with a SEBIregistered broker/sub-broker/NSEtrading member ?

You are advised to deal only with registeredintermediaries as it ensures speedy settlement aswell as a speedy dispute resolution mechanism.The exchange can ensure the settlement andhandle disputes/claims arising out of only thosetrades which are executed on NSE throughregistered trading members/ or registered sub-brokers. Thus, in case of any trade executedthrough a non-NSE entity, the investor may notbe able to approach the investor grievance cell ofthe exchange in case of non-settlement or adispute arising out of the same.

5. How do I verify the authenticity and theconduct of the trading member/sub-broker ?

All the SEBI registered trading member/sub-brokers get the SEBI registration certificate/number. You may ask the trading member tofurnish the same documents to verify theantecedents of the person. You may verify theauthenticity and the validity of the registration withthe exchange, or from the Exchanges websitew w w . n s e i n d i a . c o m / c o n t e n t / m e m b e r s /mem_directory.htm. General reputation of atrading member/sub-brokers can be known fromthe existing clients. Besides, the Exchange issuespress releases as and when it approves thesurrender application of any trading member andalso when it expels any trading member ordeclares any trading member a defaulter.

6. What are my general rights andobligations?

As an investor, you have the right to receive alldocuments evidencing your investment. If you aretrading on NSE, you should get the best price atthat point of time and receive money and securitiesin time. Your general obligations are to remaininformed about the intermediary and securities youare dealing with/in, to pay/deliver funds/securitiesas and when called upon, to exercise all rightsconferred on you and to remain vigilant.

Registration as a Client

7. What are the formalities for registrationas a client for NSE trading member/registered sub-broker ?

You (clients) should register yourself withregistered trading member/sub-brokers by:

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• Filling a client registration form,

• Signing a member-constituent agreement

• Signing a sub-broker-client agreement, ifdealing through a sub-broker

• Obtaining a copy of the above agreement forones' own records

The member-constituent agreement/sub-brokerclient agreement contains the terms andconditions including order/trade confirmation,brokerage charged by a trading member/registered sub-broker, delivery of securities andfunds and therefore helps reduce the chances ofdisputes. This agreement is mandatory for allpersons registering as a new client of a NSEtrading member/SEBI registered sub-broker. Onregistration with a trading member or a sub-broker,an uniform and unique client-id needs to beobtained which is required to be incorporated inall transactions on NSE.

8. What check points/precautions shouldone take before signing the member-constituent agreement/sub-brokers-client agreement ?

a. One should read the various terms andconditions carefully and understand theirimplications before entering into thisagreement with the trading member/registeredsub-broker.

b. A check should be done whether theagreement is on the stamp paper of requisitevalue and whether the stamp paper is valid.Date of agreement should be within the validityperiod of the stamp paper.

c. The Clients name and the name of the tradingmember/sub-broker should be clearlymentioned in the agreement. All the pages ofthe agreement should be duly signed by the

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trading member as well as the client (investor).The witnesses should also put their namesand addresses against their signature.

d. The investor (client) should check whether thetrading member/registered sub-broker or theirrepresentatives have the authority (such asboard resolution, power of attorney etc.) tosign the member-constituent agreement/sub-broker-client agreement.

Performance of companies

9. How do I know of the performance ofcompanies whose securities I want totrade in?

There are a number of sources where informationabout the company can be received. In terms oflisting agreement, the companies are required tomake continuous disclosures about the pricesensitive information. These disclosures aredisseminated through the websites of theexchanges. Besides, SEBI provides EDIFAR(Electronic Data Information Filing and RetrievalSystem), which contains information about (i)financial statements comprising of balance sheets,profit and loss account and full version of theannual report, half yearly financial statements ,(ii) corporate governance reports (iii) shareholdingpattern and (iv) action taken against the companyby a regulatory body. Apart from the above, thedetails of a company are also available with thevarious market participants and numerous publiconline sites. News magazines also carry outanalysis of the companies periodically.

Trading RelatedIssues

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Giving purchase/sale instructions

10. How do I give sale/purchase instructionsto my trading member/registered sub-broker?

A trading member will have to be communicatedthe order instructions in writing. The orderinstructions should clearly indicate the securityname, whether the order is for buy or sell, thequant i ty for each of the secur i ty, ratespecifications, and other relevant instructions.This reduces chances of miscommunicationbetween the client (investor) and the tradingmember/registered sub-broker at the time ofplacing the deals on behalf of the client. Youare advised to quote your uniform and uniqueclient id, while communicating with the tradingmember or the sub-broker.

Price at which traded

11. What is price-time priority?

The system arranges all orders in the priority ofprice and within price by time. You have, let ussay placed a buy order for 100 shares of companyA at Rs.285 and another investor has placed abuy order at Rs.290, then anyone who places asell order in company A will be first matched withthe buy order of second investor as he has givena better price. This is price priority. Let us say bothof you have quoted Rs.285 as the price at whichyou want to buy shares of company A, then sellorder which comes into the system at this pricewill be matched against the order which wasplaced first.

12. How do I know my TM has given me thebest price?

The NSE trading system matches orders in sucha way that the order gets executed at a price whichis either equal to or better than the specified pricebut never worse than it. Therefore, if you havegiven an order for selling 100 shares at the rate ofRs.50, your order will be traded in the system insuch a way that you will get a sale price of Rs.50or more but never less. Similarly, if you have givenan order for buying 100 shares at the rate of Rs.50,your order will be traded in the system in such away that you will get a buy price of Rs.50 or lessbut never more.

13. How do I know that the broker has givenme the correct price ?

Regulations provide that the client receives acontract note indicating details like order number,trade number, time, price, brokerage, etc. within24 hours of the trade. In case of any doubts aboutthe details of the contract note, you (investor)can avail the facility provided by NSE, whereinyou can verify the trades on our websitew w w . n s e i n d i a . c o m / c o n t e n t / e q u i t i e s /eq_trdverify.htm. The Exchange generates andmaintains an audit trail of orders/trades for anumber of years and you can counter check detailsof order/trade with the Exchange.

Contract Note

14. What is a contract note? What is theneed for it? What is important in acontract note?

Contract Note is a confirmation of trades done ona particular day on behalf of the client. It

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establishes a legally enforceable relationshipbetween the client and the trading member withrespect to the settlement of the trades. It also helpsto settle disputes/claims/differences in terms ofthe contract note. It is a prerequisite for filing acomplaint or arbitration proceeding against thetrading member/sub-broker in case of a dispute.A valid contract note should be in the prescribedform, contain the details of trades, stamped withrequisite value and duly signed by the authorisedsignatory.

Contract notes are made in duplicate, the tradingmember and the client should keep one copy each.After verifying the details contained therein, theclient keeps one copy and returns the second copyto the trading member duly acknowledged by him.

15. Will a contract note be issued even ifthe trade has been executed through aregistered sub-broker?

In case of a deal executed through a registeredsub-broker, the sub-broker is required to issuepurchase/sale notes to the client (investor).However, the trading member would issue to theregistered sub-broker back-to-back contract notesgiving details of all transactions done by the sub-broker through the trading member's terminal.

16. What if the details contained in thecontract/purchase/sale notes areincorrect or the notes include sometransaction not pertaining to my orders/trades?

Counter-check the details contained in thecontract note/purchase/sale notes with those onthe order and trade confirmation slip. Checkwhether the order number, trade number and

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other details on the trade confirmation slip matchwith those on contract/purchase/sale notes. Incase of discrepancy, bring the same to thenotice of the trading member /registered sub-broker immediately by way of wr i t tencommunication.

17. What are the points to be checked by aninvestor to check the validity of acontract note?

To ensure that the contract note issued to youby the trading member is a valid one, you mustverify the following details:

(a) The contract note should be in theprescribed format (annexure)

(b) Name and address of the trading member

(c) SEBI registration no. of the trading member

(d) Details of trades like order no., trade no.,trade time, security name, quantity, price,brokerage, client code etc.

(e) The trade price should be separately shownfrom the brokerage charged

(f) Signature of the authorized person.

Brokerage

18. What is the brokerage chargeable ?

As stipulated by SEBI, the maximum brokeragechargeable by a trading member in respect oftrades executed on the Exchange is fixed at 2.5%of the trade value. This maximum brokerage isinclusive of the brokerage charged by a sub-brokerwhich shall not exceed 1.5% of the trade value.

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Apart from the above, the trading member cancharge statutory levies.

Documents to be given by the TM/Registered Sub Broker

19. What documents should I receivefrom the trading member in respectof trade ?

After the order/trade is placed/executed you(investor) should receive an order/tradeconfirmation slip from the trading member. Within24 hours of the execution of the trade, you shouldalso receive a contract note from the tradingmember. Receipts of all the monies paid to thebrokers, specifying the nature of payment shouldalso be obtained from the trading member.

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Clearing and Settlementrelated Issues

Rolling settlement

20. What is rolling settlement?

Under rolling settlement, all open positions atthe end of the day mandatorily result in payment/delivery 'n' days later. This ensures certainty oftrades, reduces risk and delay in settlementand keeps excessive speculation under control.Currently trades in rolling settlement are settledon T+2 basis where T is the trade day. Forexample, a trade executed on Monday ismandatorily settled by Wednesday (consideringtwo working days from the trade day). The fundsand securities pay-in and pay-out are carriedout on T+2 day.

Pay-in and Pay-out of securities andfunds

21. When and how do I pay/receive paymentfor the securities that I have bought/sold?

You should pay for your purchases within 24hours of trade. It is advisable to make paymentby way of account payee cheque/demand draftin the name of the trading member/sub-brokeronly. A proper receipt should be collected fromthe intermediary. You should receive paymentfor securities within 24 hours of declaration ofpay-out by the Stock Exchange.

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22. When and how do I deliver and receivesecurities?

In case of a sale transaction, you should deliversecurities within 24 hours of trade. For this,instructions should be given to the DP totransfer securit ies from your beneficiaryaccount to the pool account of your tradingmember. In case of purchase, you shouldreceive securities (in your beneficiary accountwith DP), within 24 hours of the securities pay-out of the Exchange. For this, instructionsshould be given to the DP to receive securitiesin your beneficiary account from the poolaccount of your trading member.

23. What are the margins payable onsecurities and transactions?

Exchange prescribes margin rules from time totime and such margining rules are posted onthe website of the Exchange. Currently theExchange calculates margins on the basis ofValue at Risk principles as well as Mark toMarket basis. The margins are charged on clientlevel positions. The investors are advised toeducate themselves about the marginingprinciples.

24. Do I need to keep any deposit with thetrading member /sub-broker?

The regulations do not mandate any suchrequirement. It depends on your understanding

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with the trading member /sub-broker. You are, however,required to pay upfront margin to the tradingmember before the trade is executed.

Activity Day

Trading Rolling SettlementTrading T

Settlement Securities and Funds T+2 workingpay in days

Securities and Funds T+2 workingpay out days

Post Auction T+3 workingSettlement days

Auction settlement T+5 workingdays

Settlement Guarantee Fund

25. What is Settlement Guarantee Fund?

The Clearing Corporation (NSCCL) has set upthe Settlement Guarantee Fund (SGF) that isintended primarily to guarantee completion ofsettlement upto the normal pay-out for tradesexecuted in the regular market and does not actas guarantee for company objection case. TheSGF, therefore, ensures that the settlement isnot delayed on account of failure of tradingmembers to meet their obligations and all othertrading members who have completed their partof the obligations are not affected in any mannerwhatsoever.

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26. Is an investor affected, in case a countertrading member fails to pay-in funds asper his obligation ?

No, the investor is not affected in case thecounter trading member fails to meet hisobligation since National Securities ClearingCorporation Limited (NSCCL) guarantees thenet sett lement obl igat ions. The clearingcorporation guarantees completion of settlementthrough SGF in case of any default by the tradingmember towards his obligation.

Demat Settlement

27. What is a depository ?

A depository is like a bank wherein the depositsare securities (viz., shares, debentures, bonds,government securities, units etc.) in electronicform. Besides holding securities, a depositoryalso provides services related to transaction insecurities.

28. Who is Depository Participant?

Depository provides its services to investorsth rough i t s agen ts ca l led depos i to rypar t i c ipan ts (DPs) . These agents a reappointed by the depository with the approvalof SEBI. According to SEBI regulat ions,amongst others, three categories of entitiesi.e. Banks, Financial Institutions and Membersof Stock Exchanges registered with SEBI[TMs] can become DPs.

29. What is dematerialisation?

Dematerialisation is the process by whichphysical certificates of an investor are convertedto an equivalent number of securit ies inelectronic form and credited in the investor'saccount with his depository Participant (DP).

30. What is the procedure fordematerialization ?

In order to dematerialize certificates, you willhave to first open an account with a DP andthen request for the dematerialization ofcertificates by filling up a dematerializationRequest Form (DRF), which is available withDP and submitting the same along with thephys ica l ce r t i f i ca tes . Ensure tha t thecer t i f i ca tes a re de faced by mark ing :Surrendered for Dematerialisation" on theface of the certificate before the certificatesare handed over to the DP.

31. Why should I hold securities indepository and is it compulsory for everyinvestor to open a depository accountto trade in the capital market ?

Holding securit ies in depository enablesimmediate transfer of securities in case ofpurchases. The stamp duty to be paid ontransfer of securities is not needed, all risksassociated with physical certificates like fakesecurities, forgery, bad delivery etc. is notinvolved. Also, since more than 99% of thesettlement at the stock exchanges is taking

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place in the demat form, it is advisable thatsecurities be held in demat form with anydepository participant (DP).

32. How do I receive demat shares in myaccount towards my purchasetransaction and pay-in demat sharestowards my sale obligation ?

For receiving demat securities in case ofpurchases made, you may give a one-timestanding instruct ion to your Deposi toryParticipant. This standing instruction can begiven at the time of account opening or later.Alternatively, you may choose to give a separatereceipt instruction to your depository participantfor receiving every credit.

For pay-in obligations, you should instruct yourDP to give 'Delivery Out' instructions to transferthe shares from your beneficiary account to thepool/principal account of your trading memberthrough whom you have sold the shares. Thedetails of the pool/principal account of yourtrading member/clearing member to whichshares are to be transferred, security, quantityetc. should be mentioned in the 'Delivery Out'instructions given by you to your DP.

The instructions should be given well before theprescribed securities pay-in day. SEBI hasadvised that the 'Delivery Out' instructionsshould be given at least 24 hours prior to thecut-off time for the prescribed securities pay-into avoid any rejection of instructions due to dataentry errors, network problems etc.

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Auction of Shares

33. What is an auction ?

On account of non-delivery of securities, by thetrading member, the securities are put up forauction by the Exchange. This ensures that thebuying trading member receives the securitieson time. Non-delivery by the selling tradingmember can arise on account of short deliveryand bad deliveries not rectified. The Exchangepurchases the requisite quantity in auctionmarket and gives them to the buying tradingmember.

34. Can I avail the benefit of the auctionmechanism, if I have shares to deliver ?

Yes, you can direct your trading member to sellyour securities in the auction. However, youshould ensure that the securities are readilyavailable for delivery. Securities not deliveredon auction pay-in day are directly squared offat a price specified by the Exchange/ClearingCorporation.

35. What happens if the shares are notbought in the auction ?

If the shares are not bought in the auction, thetransactions are squared up as per SEBIguidelines.

Redressal of Complaints

Complaints to be addressed to

36. Whom should I approach if I have agrievance against a sub-broker/company?

You should bring it to the notice of the broker withwhom the sub-broker is affiliated. In case the sub-broker/broker fails to resolve the dispute and incase of complaints against a broker/ company, youshould take up the matter with Investor GrievanceCell of the exchange. The Cell takes up complaintsfor redressal in respect of trades executed on theexchange or trades pertaining to companies tradedon the exchange. You should lodge the complaintsin the prescribed form with all associateddocuments such as contract notes, purchase/salenotes, bills, statement of accounts and themember-client agreement.

37.37.37.37.37. Who should I approach for RedressalWho should I approach for RedressalWho should I approach for RedressalWho should I approach for RedressalWho should I approach for Redressalof my Complaints ?of my Complaints ?of my Complaints ?of my Complaints ?of my Complaints ?

Despite all the precautionary measures takenby you and the Exchange, there might be somegrievances. The Exchange tries to solve and sortout all the grievances, in addition to this you alsohave the freedom to take up the grievance withSEBI, Consumer forum and Court of law.

38. Whom should I address my complaintagainst a trading member/registeredsub-broker or against company tradedon NSE

You should address the complaint to the Mumbaioffice or the Regional office of NSE based on

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State in which dealing office of thetrading member is located wheretrade was executed

Complaint to be addressed to

Maharashtra, Gujarat, Goa, Daman,Diu, Dadar & Nagar Haveli, MadhyaPradesh, Chattisgarh

Investor Grievance CellNational Stock Exchange of India Ltd.Exchange Plaza,Bandra-Kurla Complex,Bandra (East), Mumbai 400051.Tel. No. (022) 26598100-114Fax No. (022) 26598191email : ig_nse@nse.co.in

Delhi, Haryana, Punjab, UttarPradesh, Uttaranchal, HimachalPradesh, Jammu & Kashmir,Chandigarh, Rajasthan

National Stock Exchange of India Ltd.“Thapar House”, Western Wing,Mezzanine Floor, Janpath Lane,124 Janpath, New Delhi - 110 001.Tel No.: (011) 2334 4313 to 23344327Fax No.: (011) 2336 6658

West Bengal, Bihar, Jharkhand,Orissa, Assam, Arunachal Pradesh,Mizoram, Manipur, Sikkim,Meghalaya, Nagaland, Tripura,Jharkhand

National Stock Exchange of India Ltd.Ideal Plaza, 11/1, Sarat Bose Road,Kolkatta - 700 020.Tel No.: (033) 2280 1202-05, 2280 5950-55Fax No.: (033) 2240 9783, 2280 5957

Andhra Pradesh, Karnataka, Kerala,Tamilnadu, Andaman & Nicobar,Lakshwadeep, Pondicherry

National Stock Exchange of India Ltd.7th Floor, Arihant Nitco Park, 90,Dr Radhakrishanan Salai, Mylapore,Chennai - 600 004Tel No.: (044) 2847 5100 / 2847 3670Fax No.: (044) 2847 3633

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the dealing off ice where the deals wereexecuted as given below:

39. What complaints are taken up forredressal by the IGC ?

The IGC takes up complaints for redressal inrespect of:

� Trades executed on the NSE through its NEATterminal and routed through the NSE tradingmember or SEBI registered sub-broker of NSEtrading member.

� Trades pertaining to Companies traded on theNSE.

� The investors are therefore required to furnishrelevant contract or purchase/sale notes forreferring their case to the Investor GrievanceCell.

40. How do I lodge a complaint with theIGC ? What documents do I need toenclose for the same ?

You are requested to use the following forms forlodging complaints:

Investor Complaint Form - I (ICF-I) for lodgingcomplaints against trading members/registeredsub-brokers.

Investor Complaint Form - II (ICF-II) forcomplaints in respect of companies traded onNSE.

• The complaint forms are available at NSEILwebsite (www.nseindia.com/content/assist/assist_invcentre.htm).

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Following documents needs to be enclosed whenlodging a complaint against trading members/registered sub-broker:

� Copies of contract or purchase/sale notes

� Copies of member-client agreement/registered sub-broker client agreement

� Statement of accounts

� Certificate from your bankers giving detailsof the cheque/pay-order no., date, amount,encashment details etc. issued by you infavour of the trading member/registeredsub-broker

� Transaction statement issued by your DPreflecting transfer of securities from youraccount to the account of the trading member/registered sub-broker

� Acknowledgement of securities delivered tothe trading member in case of physicalcertificates

� Copies of previous correspondence with thetrading member with regards to the dispute

� Other documents as listed on the reverse ofICF-I

Following documents needs to be enclosed whenlodging a complaint against a company:

� Copies of contract or purchase/sale notes

� Copies of previous correspondence with thecompany/registrars

� Other documents as listed on reverse of ICF-II

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41. What steps are taken by the IGC toensure speedy redressal of thecomplaints by the trading members/registered sub-brokers and companies ?

Complaints against trading members/registeredsub-brokers

Complaints received from the investor i faccompanied by relevant documents asment ioned above are forwarded to therespective trading member/registered sub-broker asking them to provide their commentsor for resolving the case. The trading membersare expected to file their replies within 15 days.

In case of the trading member/registered sub-broker disputes the claim of the investor, theresponse of the trading member is forwardedto the investor. If required both the parties arecalled for a joint meeting. Most of the complaintsare resolved in this manner. In cases where thedisputes remain unresolved in IGC, the partiesmay refer the matter for arbitration if they sodesire.

(Complaints against Companies)

Complaints received from the investors areforwarded to the respective Companies/ShareTransfer Agents for necessary action at theirend. In case no response is received from theCompany/Share Transfer Agents within 21 days,a follow up by way of letters, telephone callsand

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personal meetings is undertaken to expeditetheir replies.

Investor Protection Fund

42. What protection is available fromInvestor Protection Fund?

The Exchange maintains an Investor ProtectionFund to make good investor claims, which mayarise out of non settlement of obligations by thetrading member, who has been declared adefaulter, in respect of trades executed on theExchange. The maximum amount of claimpayable from the Fund is Rs. 10 lakh in respectof trades on NSE.

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Investor – Rights and Obligations

Investor Rights Investor Obligations

Right to get

* The best price

* Proof of price/brokeragecharged

* Money/shares on time

* Shares through auctionwhere delivery is notreceived

* Square up amount wheredelivery not received inauction

The obligation to

* Sign a proper member-constituent/sub broker-clientagreement

* Possess a valid contract orpurchase/ sale note

* Deliver securities with validdocuments and propersignatures

Right for redressal against

* Fraudulent price

* Unfair brokerage

* Delays in receipt of moneyor shares

* Investor unfriendlycompanies

The obligation to ensure

* To make payment on time

* To deliver shares on time

* To ensure that securitiespurchased are received inthe client's beneficiaryaccount

* To send securities for transferto the company on time

* To deal only with SEBIregistered trading membersand sub-brokers

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ing

Ord

erT

rad

eT

rad

eN

o.

No

.T

ime

Qu

anti

tyK

ind

of

Pu

rch

ase

Bro

ke-

Rat

e P

lus

Am

ou

nt

Sec

uri

tyR

ate

rag

eB

roke

rag

eR

s.N

et R

ate

Qu

anti

tyK

ind

of

Sal

eB

roke

-R

ate

Min

us

Am

ou

nt

Sec

uri

tyR

ate

rag

eB

roke

rag

eR

s.N

et R

ate

YO

UR

CH

EQ

UE

RE

QU

ES

TED

FO

R T

HE

CO

ST

SH

OW

N H

ER

EIN

PLE

AS

E P

AY

IMM

ED

IATE

LY F

OR

YO

UR

PU

RC

HA

SE

S/ D

EB

ITY

OU

AR

E R

EQ

UE

STE

D T

O S

EN

D S

HA

RE

/ DE

BE

NTU

RE

CE

RTI

FIC

ATE

ALO

NG

WIT

H T

RA

NS

FER

DE

ED

S D

ULY

SIG

NE

D IM

ME

DIA

TELY

No

te :

Sel

ling

rat

ein

clu

sive

of

Div

iden

d, i

f an

y.O

TH

ER

LE

VIE

S, I

F A

NY

:B

roke

rage

has

bee

n ch

arge

d as

sta

ted

and

has

been

at r

ates

not

exc

eedi

ng t

he o

ffic

ial

scal

e o

f br

oker

age

and

indi

cate

d se

para

tely

.T

his

co

ntr

act

is s

ub

ject

to

th

e R

ule

s, B

ye-l

aws

and

Reg

ula

tio

ns

and

usa

ges

of

Nat

ion

al S

tock

Exc

han

ge

of

Ind

ia L

imit

ed, M

um

bai

.In

mat

ters

whe

re t

he E

xcha

nge

is a

par

ty t

o th

e di

sput

e, t

he C

ivil

Cou

rts

at M

umba

i sha

ll ha

ve e

xclu

sive

juris

dict

ion

and

in a

ll ot

her

mat

ters

, pr

oper

cou

rts

with

in t

he a

rea

cove

red

unde

r th

e R

egio

nal A

rbitr

atio

n C

entr

e sh

all h

ave

juris

dict

ion

in r

espe

ct o

f the

arb

itrat

ion

proc

eedi

ngs

falli

ng u

nder

or

cond

ucte

d in

that

Reg

iona

l Arb

itrat

ion

Cen

tre.

In t

he e

vent

of a

ny c

laim

(whe

ther

adm

itted

or n

ot )

diff

eren

ce o

r dis

pute

ari

sing

bet

wee

n yo

u an

d m

e/us

out

of t

hese

tran

sact

ions

the

mat

ter s

hall

be re

fere

d to

arb

itrat

ion

as p

rovi

ded

in th

e R

ules

, Bye

-law

s an

d R

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited,

Mum

bai.

Thi

s co

ntra

ct c

onst

itute

s an

d sh

all

be d

eem

ed t

o co

nstit

ute

as p

rovi

ded

over

leaf

an

agre

emen

t be

twee

n yo

u an

d m

e/us

tha

t al

l cl

aim

s (w

heth

er a

dmitt

ed o

r no

t),

diff

eren

ces

and

disp

utes

in r

espe

ct o

f any

dea

lings

, tra

nsac

tions

and

con

trac

ts o

f a d

ate

prio

r or

sub

sequ

ent t

o th

e da

te o

f th

is c

ontr

act (

incl

udin

g an

y qu

estio

n w

heth

ersu

ch d

ealin

gs, t

rans

actio

ns o

r con

trac

ts h

ave

been

ent

ered

into

or n

ot) s

hall

be s

ubm

itted

to a

nd d

ecid

ed b

y ar

bitr

atio

n as

pro

vide

d in

the

Rul

es, B

ye-la

ws

and

Reg

ulat

ions

of N

atio

nal S

tock

Exc

hang

e of

Indi

a Li

mite

d, M

umba

i.T

he

pro

visi

on

s p

rin

ted

ove

rlea

f fo

rm a

par

t o

f th

e co

ntr

act.

Yo

urs

fait

hfu

lly,

Mum

bai

Dat

eM

emb

er o

f N

atio

nal

Sto

ck E

xch

ang

e o

f In

dia

Ltd

.P

.T.O

.

Nam

e o

f P

artn

er/

Pro

pri

eto

r/A

uth

ori

sed

Sig

nat

ory

Dea

ling

Off

ice

Add

ress

/Tel

. no.

/Tlx

no.

/Fax

no.

35

EX

TR

AC

TS

FR

OM

TH

E B

YE

LA

WS

& R

EG

UL

AT

ION

S P

ER

TA

ININ

G T

O A

RB

ITR

AT

ION

(1)

All

clai

ms,

diff

eren

ces

or d

ispu

tes

betw

een

the

Tra

ding

Mem

bers

inte

r se

and

bet

wee

n T

radi

ng M

embe

rs a

nd C

onst

ituen

ts a

risi

ng

out o

f or

in r

elat

ion

to d

ealin

gs,

cont

ract

s an

d tr

ansa

ctio

ns m

ade

subj

ect t

o th

e B

ye-L

aws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e or

with

ref

eren

ce to

any

thin

g in

cide

ntal

ther

eto

or in

pur

suan

ceth

ereo

f or

rela

ting

to th

eir

valid

ity, c

onst

ruct

ion,

inte

rpre

tatio

n, fu

lfillm

ent o

r th

e ri

ghts

, obl

igat

ions

and

liab

ilitie

s of

the

part

ies

ther

eto

and

incl

udin

g an

y qu

estio

n of

whe

ther

suc

h de

alin

gs,

tran

sact

ions

and

con

trac

ts h

ave

been

ent

ered

int

o or

not

sha

ll be

sub

mitt

ed t

o ar

bitr

atio

n in

acc

orda

nce

with

th

e pr

ovis

ions

of

thes

eB

yela

ws

and

Reg

ulat

ions

.(2

)In

all

deal

ings

, con

trac

ts a

nd tr

ansa

ctio

ns, w

hich

are

mad

e or

dee

med

to b

e m

ade

subj

ect t

o th

e B

yela

ws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e, th

e pr

ovis

ions

rela

ting

to a

rbitr

atio

n as

pro

vide

d in

thes

e B

yela

ws

and

Reg

ulat

ions

sha

ll fo

rm a

nd s

hall

be d

eem

ed to

form

par

t of t

he d

ealin

gs,

con

trac

ts a

nd tr

ansa

ctio

ns a

nd th

epa

rtie

s sh

all b

e de

emed

to h

ave

ente

red

into

an

arbi

trat

ion

agre

emen

t in

wri

ting

by w

hich

all

clai

ms,

diff

eren

ces

or d

ispu

tes

of th

e na

ture

ref

erre

d to

in c

laus

e (1

)ab

ove

shal

l be

subm

itted

to a

rbitr

atio

n as

per

the

prov

isio

ns o

f the

se B

yela

ws

and

Reg

ulat

ions

.(3

)A

ll cl

aim

s, d

iffer

ence

s or

dis

pute

s re

ferr

ed to

in c

laus

e (1

) abo

ve s

hall

be s

ubm

itted

to a

rbitr

atio

n w

ithin

six

mon

ths

from

the

date

on

whi

ch th

e cl

aim

, diff

eren

ce o

r dis

pute

aros

e or

sha

ll be

dee

med

to h

ave

aris

en. T

he ti

me

take

n in

con

cilia

tion

proc

eedi

ngs,

if a

ny, i

nitia

ted

and

cond

ucte

d as

per

the

prov

isio

ns o

f the

Act

and

the

time

take

nby

the

Rel

evan

t Aut

horit

y to

adm

inis

trat

ivel

y re

solv

e th

e cl

aim

, diff

eren

ces

or d

ispu

tes

shal

l be

excl

uded

for

the

purp

ose

of d

eter

min

ing

the

perio

d of

six

mon

ths.

(4)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he s

eat o

f arb

itrat

ion

for

diff

eren

t reg

ions

sha

ll be

as

follo

ws:

Sea

ts o

f A

rbit

rati

on

– R

EG

ION

AL

ST

AT

ES

CO

VE

RE

D B

Y T

HE

RA

CA

RB

ITR

AT

ION

CE

NT

RE

S (R

AC

)

DE

LHI

Del

hi, H

arya

na, U

ttar P

rade

sh, U

ttara

ncha

l, H

imac

hal P

rade

sh, P

unja

b, J

amm

u &

Kash

mir,

Cha

ndig

arh,

Raj

asth

an

KO

LKA

TA

Wes

t Ben

gal,

Biha

r, Jh

arkh

and,

Oris

sa, A

ssam

, Aru

nach

al P

rade

sh, M

izor

am, M

anip

ur, S

ikki

m, M

egha

laya

, Nag

alan

d, T

ripur

a

CH

EN

NA

IAn

dhra

Pra

desh

, Kar

nata

ka, K

eral

a, T

amiln

adu,

And

aman

& N

icob

ar, L

aksh

adw

eep,

Pon

dich

erry

MU

MB

AI

Mah

aras

htra

, Guj

arat

, Goa

, Dam

an, D

iu, D

adra

& N

agar

Hav

eli,

Mad

hya

Prad

esh,

Cha

ttisg

arh

(5)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he c

rite

ria

for

sele

ctio

n of

sea

t of a

rbitr

atio

n fo

r a

part

icul

ar m

att

er is

as

follo

ws:

Par

ties

to D

ispu

teP

lace

of f

iling

the

App

licat

ion

for

Arb

itrat

ion

Pla

ce o

f hea

ring

T M

* V

/s T

Ma)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

is s

ituat

ed in

any

one

of t

he s

tate

s co

vere

d by

a p

artic

ular

RA

C th

en th

e A

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed b

y th

e A

pplic

ant-

Tra

ding

Mem

ber

in th

at R

AC

.b)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

out

are

situ

ated

in s

tate

s co

vere

d by

diff

eren

t RA

C th

en th

eA

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed in

the

RA

C c

over

ing

the

stat

e in

whi

ch th

e R

espo

nden

t -T

radi

ng M

embe

r's d

ealin

g of

fice

is s

ituat

ed.

The

hea

ring

sha

ll be

hel

d at

the

RA

C w

here

the

App

lican

t-T

radi

ng M

embe

r ha

s fil

ed th

e A

pplic

atio

n fo

r A

rbitr

atio

n an

dth

e R

espo

nden

t-T

radi

ng M

embe

r sh

all a

tten

d th

e he

arin

g in

that

par

ticul

ar R

AC

.

TM

V/s

C*

&C

V/s

TM

The

App

licat

ion

for

Arb

itrat

ion

shal

l be

file

d by

the

App

lican

t at

the

RA

Cco

veri

ng t

he s

tate

in w

hich

the

dea

ling

offic

e of

the

Tra

ding

Mem

ber

from

whi

ch th

e de

alin

g w

as c

arri

ed o

ut is

situ

ated

.

The

hea

ring

sha

ll be

hel

d in

tha

t R

AC

whe

re t

he A

pplic

ant

has

filed

the

App

licat

ion

for

Arb

itrat

ion

and

the

Res

pond

ent

shal

l att

end

the

hear

ing

in th

at p

artic

ular

RA

C.

* “T

M”

stan

ds

for

“Tra

din

g M

emb

er”

and

“C

” st

and

s fo

r “C

on

stit

uen

t.”

For

mor

e de

tails

ple

ase

refe

r to

Cha

pter

XI

of t

he B

yela

ws

and

Cha

pter

5 o

f C

apita

l M

arke

t T

radi

ng R

egul

atio

ns a

nd C

hapt

er 7

of

Who

lesa

le D

ebt

Mar

ket

Tra

ding

Reg

ulat

ions

of N

atio

nal S

tock

Exc

hang

e of

Indi

a Li

mite

d.C

LIE

NT

S W

ILL

HO

LD T

HE

SE

CU

RIT

IES

BLA

NK

AT

TH

EIR

OW

N R

ISK

36

CO

NT

RA

CT

NO

TE

(Reg

ulat

ion

3.5)

CO

NT

RA

CT

NO

TE

IS

SU

ED

BY

ME

MB

ER

S A

CT

ING

FO

R C

ON

ST

ITU

EN

TS

AS

PR

INC

IPA

LS

Nam

e o

f th

e M

emb

erA

dd

ress

of

the

Mem

ber

SE

BI R

egn

. No

. of

the

Mem

ber

Tra

ding

Cod

e N

o. o

f the

Mem

ber

Con

trac

t No.

To,

Con

stitu

ent N

ame/

Uni

que

Clie

nt C

ode

No.

/ C

onst

ituen

t Ord

er R

ef. N

o.

Sir

/ Mad

am,

I / W

e ha

ve th

is d

ay E

NT

ER

ED

INT

O fo

llow

ing

tran

sact

ions

with

you

as

PR

INC

IPA

L(S

) T

O P

RIN

CIP

AL(

S)

:

Tel

.no.

Tlx

. no

.F

ax n

o

Sta

mp

as

req

uir

ed u

nd

ersc

hed

ule

1 t

o t

he

Ind

ian

Sta

mp

Act

Dat

e :

SE

TT

. NO

. :S

ET

T F

RO

M :

T

O:

Sec

uri

ties

SO

LD

TO

YO

U f

or

Del

iver

y / C

lear

ing

Sec

uri

ties

BO

UG

HT

FR

OM

YO

U f

or

Del

iver

y/C

lear

ing

Ord

erT

rad

eT

rad

eN

o.

No

.T

ime

Qu

anti

tyK

ind

of S

ecu

rity

Rat

eA

mo

un

t Rs.

YO

UR

CH

EQ

UE

RE

QU

ES

TED

FO

R T

HE

CO

ST

SH

OW

N H

ER

EIN

PLE

AS

E P

AY

IMM

ED

IATE

LY F

OR

YO

UR

PU

RC

HA

SE

S/ D

EB

ITY

OU

AR

E R

EQ

UE

STE

D T

O S

EN

D S

HA

RE

/ DE

BE

NTU

RE

CE

RTI

FIC

ATE

ALO

NG

WIT

H T

RA

NS

FER

DE

ED

S D

ULY

SIG

NE

D IM

ME

DIA

TELY

No

te :

Sel

ling

rat

ein

clu

sive

of

Div

iden

d, i

f an

y.O

TH

ER

LE

VIE

S, I

F A

NY

:B

roke

rage

has

bee

n ch

arge

d as

sta

ted

and

has

been

at r

ates

not

exc

eedi

ng th

e of

ficia

l sca

le o

f bro

kera

ge a

nd in

dica

ted

sepa

rate

ly.

Th

is c

on

trac

t is

su

bje

ct t

o t

he

Ru

les,

Bye

-law

s an

d R

egu

lati

on

s an

d u

sag

es o

f N

atio

nal

Sto

ck E

xch

ang

e o

f In

dia

Lim

ited

, Mu

mb

ai.

In m

atte

rs w

here

the

Exc

hang

e is

a p

arty

to

the

disp

ute,

the

Civ

il C

ourt

s at

Mum

bai s

hall

have

exc

lusi

ve ju

risdi

ctio

n an

d in

all

othe

r m

atte

rs,

prop

er c

ourt

s w

ithin

the

are

aco

vere

d un

der

the

Reg

iona

l Arb

itrat

ion

Cen

tre

shal

l hav

e ju

risdi

ctio

n in

res

pect

of t

he a

rbitr

atio

n pr

ocee

ding

s fa

lling

und

er o

r co

nduc

ted

in th

at R

egio

nal A

rbitr

atio

n C

entr

e.In

the

even

t of a

ny c

laim

(whe

ther

adm

itted

or n

ot) d

iffer

ence

or d

ispu

te a

risin

g be

twee

n yo

u an

d m

e/us

out

of t

hese

tran

sact

ions

the

mat

ter s

hall

be re

ferr

ed t

o ar

bitr

atio

n as

prov

ided

in th

e R

ules

, Bye

-law

s an

d R

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited,

Mum

bai.

Thi

s co

ntra

ct c

onst

itute

s an

d sh

all b

e de

emed

to c

onst

itute

as

prov

ided

ove

rleaf

an

agre

emen

t bet

wee

n yo

u an

d m

e/us

that

all

clai

ms

(whe

ther

adm

itted

or

not)

, diff

eren

ces

and

disp

utes

in r

espe

ct o

f any

dea

lings

, tra

nsac

tions

and

con

trac

ts o

f a d

ate

prio

r or

sub

sequ

ent t

o th

e da

te o

f thi

s co

ntra

ct (

incl

udin

g an

y qu

estio

n w

heth

er s

uch

deal

ings

,tr

ansa

ctio

ns o

r con

trac

ts h

ave

been

ent

ered

into

or n

ot) s

hall

be s

ubm

itted

to a

nd d

ecid

ed b

y ar

bitr

atio

n as

pro

vide

d in

the

Rul

es, B

ye-la

ws

and

Reg

ulat

ions

of N

atio

nal S

tock

Exc

hang

e of

Indi

a Li

mite

d, M

umba

i.T

he

pro

visi

on

s p

rin

ted

ove

rlea

f fo

rm a

par

t o

f th

e co

ntr

act.

Yo

urs

fait

hfu

lly,

Mum

bai

Dat

eM

emb

er o

f N

atio

nal

Sto

ck E

xch

ang

e o

f In

dia

Ltd

.P

.T.O

.

Nam

e o

f P

artn

er/

Pro

pri

eto

r/A

uth

ori

sed

Sig

nat

ory

Dea

ling

Off

ice

Add

ress

/Tel

. no.

/Tlx

no.

/Fax

no.

Qu

anti

tyK

ind

of S

ecu

rity

Rat

eA

mo

un

t Rs.

37

EX

TR

AC

TS

FR

OM

TH

E B

YE

LA

WS

& R

EG

UL

AT

ION

S P

ER

TA

ININ

G T

O A

RB

ITR

AT

ION

(1)

All

clai

ms,

diff

eren

ces

or d

ispu

tes

betw

een

the

Tra

ding

Mem

bers

inte

r se

and

bet

wee

n T

radi

ng M

embe

rs a

nd C

onst

ituen

ts a

risi

ng

out o

f or

in r

elat

ion

to d

ealin

gs,

cont

ract

s an

d tr

ansa

ctio

ns m

ade

subj

ect t

o th

e B

ye-L

aws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e or

with

ref

eren

ce to

any

thin

g in

cide

ntal

ther

eto

or in

pur

suan

ceth

ereo

f or

rela

ting

to th

eir

valid

ity, c

onst

ruct

ion,

inte

rpre

tatio

n, fu

lfillm

ent o

r th

e ri

ghts

, obl

igat

ions

and

liab

ilitie

s of

the

part

ies

ther

eto

and

incl

udin

g an

y qu

estio

n of

whe

ther

suc

h de

alin

gs,

tran

sact

ions

and

con

trac

ts h

ave

been

ent

ered

int

o or

not

sha

ll be

sub

mitt

ed t

o ar

bitr

atio

n in

acc

orda

nce

with

th

e pr

ovis

ions

of

thes

eB

yela

ws

and

Reg

ulat

ions

.(2

)In

all

deal

ings

, con

trac

ts a

nd tr

ansa

ctio

ns, w

hich

are

mad

e or

dee

med

to b

e m

ade

subj

ect t

o th

e B

yela

ws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e, th

e pr

ovis

ions

rela

ting

to a

rbitr

atio

n as

pro

vide

d in

thes

e B

yela

ws

and

Reg

ulat

ions

sha

ll fo

rm a

nd s

hall

be d

eem

ed to

form

par

t of t

he d

ealin

gs,

con

trac

ts a

nd tr

ansa

ctio

ns a

nd th

epa

rtie

s sh

all b

e de

emed

to h

ave

ente

red

into

an

arbi

trat

ion

agre

emen

t in

wri

ting

by w

hich

all

clai

ms,

diff

eren

ces

or d

ispu

tes

of th

e na

ture

ref

erre

d to

in c

laus

e (1

)ab

ove

shal

l be

subm

itted

to a

rbitr

atio

n as

per

the

prov

isio

ns o

f the

se B

yela

ws

and

Reg

ulat

ions

.(3

)A

ll cl

aim

s, d

iffer

ence

s or

dis

pute

s re

ferr

ed to

in c

laus

e (1

) abo

ve s

hall

be s

ubm

itted

to a

rbitr

atio

n w

ithin

six

mon

ths

from

the

date

on

whi

ch th

e cl

aim

, diff

eren

ce o

r dis

pute

aros

e or

sha

ll be

dee

med

to h

ave

aris

en. T

he ti

me

take

n in

con

cilia

tion

proc

eedi

ngs,

if a

ny,

initi

ated

and

con

duct

ed a

s pe

r the

pro

visi

ons

of th

e A

ct a

nd th

e tim

e ta

ken

by th

e R

elev

ant A

utho

rity

to a

dmin

istr

ativ

ely

reso

lve

the

clai

m, d

iffer

ence

s or

dis

pute

s sh

all b

e ex

clud

ed fo

r th

e pu

rpos

e of

det

erm

inin

g th

e pe

riod

of s

ix m

onth

s.(4

)S

ave

as o

ther

wis

e sp

ecifi

ed b

y th

e R

elev

ant A

utho

rity

, the

sea

t of a

rbitr

atio

n fo

r di

ffer

ent r

egio

ns s

hall

be a

s fo

llow

s:

Sea

ts o

f A

rbit

rati

on

– R

EG

ION

AL

ST

AT

ES

CO

VE

RE

D B

Y T

HE

RA

CA

RB

ITR

AT

ION

CE

NT

RE

S (R

AC

)

DE

LHI

Del

hi, H

arya

na, U

ttar P

rade

sh, U

ttara

ncha

l, H

imac

hal P

rade

sh, P

unja

b, J

amm

u &

Kash

mir,

Cha

ndig

arh,

Raj

asth

an

KO

LKA

TA

Wes

t Ben

gal,

Biha

r, Jh

arkh

and,

Oris

sa, A

ssam

, Aru

nach

al P

rade

sh, M

izor

am, M

anip

ur, S

ikki

m, M

egha

laya

, Nag

alan

d, T

ripur

a

CH

EN

NA

IAn

dhra

Pra

desh

, Kar

nata

ka, K

eral

a, T

amiln

adu,

And

aman

& N

icob

ar, L

aksh

adw

eep,

Pon

dich

erry

MU

MB

AI

Mah

aras

htra

, Guj

arat

, Goa

, Dam

an, D

iu, D

adra

& N

agar

hav

eli,

Mad

hya

Prad

esh,

Cha

ttisg

arh

(5)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he c

rite

ria

for

sele

ctio

n of

sea

t of a

rbitr

atio

n fo

r a

part

icul

ar m

att

er is

as

follo

ws:

Par

ties

to D

ispu

teP

lace

of f

iling

the

App

licat

ion

for

Arb

itrat

ion

Pla

ce o

f hea

ring

T M

* V

/s T

Ma)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

is s

ituat

ed in

any

one

of t

he s

tate

s co

vere

d by

a p

artic

ular

RA

C th

en th

e A

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed b

y th

e A

pplic

ant-

Tra

ding

Mem

ber

in th

at R

AC

.b)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

out

are

situ

ated

in s

tate

s co

vere

d by

diff

eren

t RA

C th

en th

eA

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed in

the

RA

C c

over

ing

the

stat

e in

whi

ch th

e R

espo

nden

t -T

radi

ng M

embe

r's d

ealin

g of

fice

is s

ituat

ed.

The

hea

ring

sha

ll be

hel

d at

the

RA

C w

here

the

App

lican

t-T

radi

ng M

embe

r ha

s fil

ed th

e A

pplic

atio

n fo

r A

rbitr

atio

n an

dth

e R

espo

nden

t-T

radi

ng M

embe

r sh

all a

tten

d th

e he

arin

g in

that

par

ticul

ar R

AC

.

TM

V/s

C*

&C

V/s

TM

The

App

licat

ion

for

Arb

itrat

ion

shal

l be

file

d by

the

App

lican

t at

the

RA

Cco

veri

ng t

he s

tate

in w

hich

the

dea

ling

offic

e of

the

Tra

ding

Mem

ber

from

whi

ch th

e de

alin

g w

as c

arri

ed o

ut is

situ

ated

.

The

hea

ring

sha

ll be

hel

d in

tha

t R

AC

whe

re t

he A

pplic

ant

has

filed

the

App

licat

ion

for

Arb

itrat

ion

and

the

Res

pond

ent

shal

l att

end

the

hear

ing

in th

at p

artic

ular

RA

C.

* “

TM

” st

and

s fo

r “T

rad

ing

Mem

ber

” an

d “

C”

stan

ds

for

“Co

nst

itu

ent.

”F

or m

ore

deta

ils p

leas

e re

fer

to C

hapt

er X

I of

the

Bye

law

s an

d C

hapt

er 5

of

Cap

ital

Mar

ket

Tra

ding

Reg

ulat

ions

and

Cha

pter

7 o

f W

hole

sale

Deb

t M

arke

t T

radi

ngR

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited.

CLI

EN

TS

WIL

L H

OLD

TH

E S

EC

UR

ITIE

S B

LAN

K A

T T

HE

IR O

WN

RIS

K

38

AN

NE

XU

RE

- II

CO

NT

RA

CT

NO

TE

Sub

ject

to

exc

lusi

ve ju

risd

ictio

n of

the

cour

ts in

MU

MB

AI o

nly

CO

NT

RA

CT

NO

TE

ISS

UE

D B

Y M

EM

BE

RS

AC

TIN

G F

OR

CO

NS

TIT

UE

NT

S A

S B

RO

KE

RS

AN

D A

GE

NT

SN

ame

of

the

Mem

ber

Ad

dre

ss o

f th

e M

emb

erS

EB

I Reg

n. N

o. o

f th

e M

emb

erC

ode

No.

of t

he M

embe

rC

ontr

act N

o.

To,

Con

stitu

ent N

ame/

Cod

e N

o. /

Con

stitu

ent O

rder

Ref

. No.

Sir

/ Mad

am,

I/W

e ha

ve th

is d

ay d

one

by o

rder

and

on

your

acc

ount

the

follo

win

g tr

ansa

ctio

ns:

Tel

.no.

Tlx

. no

.F

ax n

o

To

be

stam

ped

as

per

th

ep

rovi

sio

ns

app

licab

le u

nd

erth

e re

leva

nt

Sta

mp

Act

Dat

e :

Bo

ug

ht

for

you

So

ld f

or

you

Ord

erT

rad

eT

rad

eN

o.

No

.T

ime

Qu

anti

tyP

rice

Bro

kera

ge

Ser

vice

Am

ou

nt

(To

tal)

Tax

(Rs.

)

OT

HE

R L

EV

IES

, IF

AN

Y:

Bro

kera

ge h

as b

een

char

ged

as s

tate

d an

d ha

s be

en a

t rat

es n

ot e

xcee

ding

the

offic

ial s

cale

of b

roke

rage

and

indi

cate

d se

para

tely

.T

his

cont

ract

is s

ubje

ct to

the

Rul

es, B

ye-L

aws

and

Reg

ulat

ions

and

usa

ges

of N

atio

nal S

tock

Exc

hang

e of

Indi

a Li

mite

d, M

umba

i.T

his

cont

ract

is s

ubje

ct to

the

excl

usiv

e ju

risd

ictio

n of

the

Cou

rts

in M

UM

BA

I onl

y.In

the

even

t of a

ny c

laim

(whe

ther

adm

itted

or n

ot) d

iffer

ence

or d

ispu

te a

risi

ng b

etw

een

you

and

me/

us o

ut o

f the

se tr

ansa

ctio

ns th

e m

atte

r sha

ll be

refe

rred

to a

rbitr

atio

nas

pro

vide

d in

the

Rul

es, B

ye-l

aws

and

Reg

ulat

ions

of N

atio

nal S

tock

Exc

hang

e of

Indi

a Li

mite

d, M

UM

BA

I.T

his

cont

ract

con

stitu

tes

and

shal

l be

dee

med

to

cons

titut

e as

pro

vide

d ov

erle

af a

n ag

reem

ent

betw

een

you

and

me/

us t

hat

all

clai

ms

(whe

ther

adm

itted

or

not)

,di

ffer

ence

s an

d di

sput

es in

res

pect

of a

ny d

ealin

gs, t

rans

actio

ns a

nd c

ontr

acts

of a

dat

e pr

ior

or s

ubse

quen

t to

the

date

of t

his

cont

ract

(in

clud

ing

any

ques

tion

whe

ther

such

dea

lings

, tr

ansa

ctio

ns o

r co

ntra

cts

have

bee

n en

tere

d in

to o

r no

t) s

hall

be s

ubm

itted

to

and

deci

ded

by a

rbitr

atio

n as

pro

vide

d in

the

Rul

es,

Bye

-Law

s an

d th

epr

ovis

ions

pri

nted

ove

rlea

f for

m a

par

t of t

he c

ontr

act.

Yo

urs

fait

hfu

lly,

Mum

bai

Dat

eM

emb

er o

f N

atio

nal

Sto

ck E

xch

ang

e o

f In

dia

Ltd

.P

.T.O

.

Nam

e o

f P

artn

er/

Pro

pri

eto

r/A

uth

ori

sed

Sig

nat

ory

Dea

ling

Off

ice

Add

ress

/Tel

. no.

/Tlx

no.

/Fax

no.

Qu

anti

tyP

rice

Bro

kera

ge

Ser

vice

Am

ou

nt

(To

tal)

Tax

(Rs.

)C

on

trac

tS

pec

ific

atio

ns

39

EX

TR

AC

TS

FR

OM

TH

E B

YE

LA

WS

& R

EG

UL

AT

ION

S P

ER

TA

ININ

G T

O A

RB

ITR

AT

ION

(1)

All

clai

ms,

diff

eren

ces

or d

ispu

tes

betw

een

the

Tra

ding

Mem

bers

inte

r se

and

bet

wee

n T

radi

ng M

embe

rs a

nd C

onst

ituen

ts a

risi

ng o

ut o

f or

in r

elat

ion

to d

ealin

gs,

cont

ract

s an

d tr

ansa

ctio

ns m

ade

subj

ect t

o th

e B

ye-L

aws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e or

with

ref

eren

ce to

any

thin

g in

cide

ntal

ther

eto

or in

pur

suan

ceth

ereo

f or

rela

ting

to th

eir

valid

ity, c

onst

ruct

ion,

inte

rpre

tatio

n, fu

lfillm

ent o

r th

e ri

ghts

, obl

igat

ions

and

liab

ilitie

s of

the

part

ies

ther

eto

and

incl

udin

g an

y qu

estio

n of

whe

ther

suc

h de

alin

gs,

tran

sact

ions

and

con

trac

ts h

ave

been

ent

ered

int

o or

not

sha

ll be

sub

mitt

ed t

o ar

bitr

atio

n in

acc

orda

nce

with

th

e pr

ovis

ions

of

thes

eB

yela

ws

and

Reg

ulat

ions

.(2

)In

all

deal

ings

, con

trac

ts a

nd tr

ansa

ctio

ns, w

hich

are

mad

e or

dee

med

to b

e m

ade

subj

ect t

o th

e B

yela

ws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e, th

e pr

ovis

ions

rela

ting

to a

rbitr

atio

n as

pro

vide

d in

thes

e B

yela

ws

and

Reg

ulat

ions

sha

ll fo

rm a

nd s

hall

be d

eem

ed to

form

par

t of t

he d

ealin

gs,

con

trac

ts a

nd tr

ansa

ctio

ns a

nd th

epa

rtie

s sh

all b

e de

emed

to h

ave

ente

red

into

an

arbi

trat

ion

agre

emen

t in

wri

ting

by w

hich

all

clai

ms,

diff

eren

ces

or d

ispu

tes

of th

e na

ture

ref

erre

d to

in c

laus

e (1

)ab

ove

shal

l be

subm

itted

to a

rbitr

atio

n as

per

the

prov

isio

ns o

f the

se B

yela

ws

and

Reg

ulat

ions

.(3

)A

ll cl

aim

s, d

iffer

ence

s or

dis

pute

s re

ferr

ed to

in c

laus

e (1

) abo

ve s

hall

be s

ubm

itted

to a

rbitr

atio

n w

ithin

six

mon

ths

from

the

date

on

whi

ch th

e cl

aim

, diff

eren

ce o

r dis

pute

aros

e or

sha

ll be

dee

med

to h

ave

aris

en. T

he ti

me

take

n in

con

cilia

tion

proc

eedi

ngs,

if a

ny,

initi

ated

and

con

duct

ed a

s pe

r the

pro

visi

ons

of th

e A

ct a

nd th

e tim

e ta

ken

by th

e R

elev

ant A

utho

rity

to a

dmin

istr

ativ

ely

reso

lve

the

clai

ms,

diff

eren

ces

or d

ispu

tes

shal

l be

excl

uded

for

the

purp

ose

of d

eter

min

ing

the

perio

d of

six

mon

ths.

(4)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he s

eat o

f arb

itrat

ion

for

diff

eren

t reg

ions

sha

ll be

as

follo

ws:

Sea

ts o

f A

rbit

rati

on

– R

EG

ION

AL

ST

AT

ES

CO

VE

RE

D B

Y T

HE

RA

CA

RB

ITR

AT

ION

CE

NT

RE

S (R

AC

)

DE

LHI

Del

hi, H

arya

na, U

ttar P

rade

sh,

Him

acha

l Pra

desh

, Pun

jab,

Jam

mu

& Ka

shm

ir, C

hand

igar

h, R

ajas

than

.

KO

LKA

TA

Wes

t Ben

gal,

Biha

r, O

rissa

, Ass

am, A

runa

chal

Pra

desh

, Miz

oram

, Man

ipur

, Sik

kim

, Meg

hala

ya, N

agal

and,

Trip

ura.

CH

EN

NA

IAn

dhra

Pra

desh

, Kar

nata

ka, K

eral

a, T

amiln

adu,

And

aman

& N

icob

ar, L

aksh

adw

eep,

Pon

dich

erry

.

MU

MB

AI

Mah

aras

htra

, Guj

arat

, Goa

, Dam

an, D

iu, D

adra

& N

agar

hav

eli,

Mad

hya

Prad

esh.

(5)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he c

rite

ria

for

sele

ctio

n of

sea

t of a

rbitr

atio

n fo

r a

part

icul

ar m

att

er is

as

follo

ws:

Par

ties

to D

ispu

teP

lace

of f

iling

the

App

licat

ion

for

Arb

itrat

ion

Pla

ce o

f hea

ring

T M

* V

/s T

Ma)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

is s

ituat

ed in

any

one

of t

he s

tate

s co

vere

d by

a p

artic

ular

RA

C th

en th

e A

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed b

y th

e A

pplic

ant-

Tra

ding

Mem

ber

in th

at R

AC

.b)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

out

are

situ

ated

in s

tate

s co

vere

d by

diff

eren

t RA

C th

en th

eA

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed in

the

RA

C c

over

ing

the

stat

e in

whi

ch th

e R

espo

nden

t -T

radi

ng M

embe

r's d

ealin

g of

fice

is s

ituat

ed.

The

hea

ring

sha

ll be

hel

d at

the

RA

C w

here

the

App

lican

t-T

radi

ng M

embe

r ha

s fil

ed th

e A

pplic

atio

n fo

r A

rbitr

atio

n an

dth

e R

espo

nden

t-T

radi

ng M

embe

r sh

all a

tten

d th

e he

arin

g in

that

par

ticul

ar R

AC

.

TM

V/s

C*

&C

V/s

TM

The

App

licat

ion

for

Arb

itrat

ion

shal

l be

file

d by

the

App

lican

t at

the

RA

Cco

veri

ng t

he s

tate

in w

hich

the

dea

ling

offic

e of

the

Tra

ding

Mem

ber

from

whi

ch th

e de

alin

g w

as c

arri

ed o

ut is

situ

ated

.

The

hea

ring

sha

ll be

hel

d in

tha

t R

AC

whe

re t

he A

pplic

ant

has

filed

the

App

licat

ion

for

Arb

itrat

ion

and

the

Res

pond

ent

shal

l att

end

the

hear

ing

in th

at p

artic

ular

RA

C.

* “

TM

” st

and

s fo

r “T

rad

ing

Mem

ber

” an

d “

C”

stan

ds

for

“Co

nst

itu

ent.

”F

or m

ore

deta

ils p

leas

e re

fer

to C

hapt

er X

I of t

he B

yela

ws

and

Cha

pter

5 o

f Fut

ures

& O

ptio

ns T

radi

ng R

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited.

40

AN

NE

XU

RE

- II

CO

NT

RA

CT

NO

TE

Sub

ject

to

exc

lusi

ve ju

risd

ictio

n of

the

cour

ts in

MU

MB

AI o

nly

CO

NT

RA

CT

NO

TE

ISS

UE

D B

Y M

EM

BE

RS

DE

AL

ING

WIT

HC

ON

ST

ITU

EN

TS

AS

PR

INC

IPA

LS

Nam

e o

f th

e M

emb

erA

dd

ress

of

the

Mem

ber

SE

BI R

egn

. No

. of

the

Mem

ber

Cod

e N

o. o

f the

Mem

ber

Con

trac

t No.

To,

Con

stitu

ent N

ame/

Cod

e N

o. /

Con

stitu

ent O

rder

Ref

. No.

Sir

/ Mad

am,

I/W

e ha

ve th

is d

ay E

NT

ER

ED

INT

O fo

llow

ing

tran

sact

ions

as

PR

INC

IPA

L(S

) T

O P

RIN

CIP

AL(

S):

Tel

.no.

Tlx

. no

.F

ax n

o

To

be

stam

ped

as

per

th

ep

rovi

sio

ns

app

licab

le u

nd

erth

e re

leva

nt

Sta

mp

Act

Dat

e :

Bo

ug

ht

for

you

So

ld t

o y

ou

Ord

erT

rad

eT

rad

eN

o.

No

.T

ime

Qu

anti

tyP

rice

Am

ou

nt

(Rs.

)

OT

HE

R L

EV

IES

, IF

AN

Y:

Thi

s co

ntra

ct is

sub

ject

to th

e R

ules

, Bye

-Law

s an

d R

egul

atio

ns a

nd u

sage

s of

Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited,

Mum

bai.

Thi

s co

ntra

ct is

sub

ject

to th

e ex

clus

ive

juri

sdic

tion

of th

e C

ourt

s in

MU

MB

AI o

nly.

In th

e ev

ent o

f any

cla

im (w

heth

er a

dmitt

ed o

r not

) diff

eren

ce o

r dis

pute

ari

sing

bet

wee

n yo

u an

d m

e/us

out

of t

hese

tran

sact

ions

the

mat

ter s

hall

be re

ferr

ed to

arb

itrat

ion

as p

rovi

ded

in th

e R

ules

, Bye

-law

s an

d R

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited,

MU

MB

AI.

Thi

s co

ntra

ct c

onst

itute

s an

d sh

all

be d

eem

ed t

o co

nstit

ute

as p

rovi

ded

over

leaf

an

agre

emen

t be

twee

n yo

u an

d m

e/us

tha

t al

l cl

aim

s (w

heth

er a

dmitt

ed o

r no

t),

diff

eren

ces

and

disp

utes

in r

espe

ct o

f any

dea

lings

, tra

nsac

tions

and

con

trac

ts o

f a d

ate

prio

r or

sub

sequ

ent t

o th

e da

te o

f thi

s co

ntra

ct (

incl

udin

g an

y qu

estio

n w

heth

ersu

ch d

ealin

gs,

tran

sact

ions

or

cont

ract

s ha

ve b

een

ente

red

into

or

not)

sha

ll be

sub

mitt

ed t

o an

d de

cide

d by

arb

itrat

ion

as p

rovi

ded

in t

he R

ules

, B

ye-L

aws

and

the

prov

isio

ns p

rint

ed o

verl

eaf f

orm

a p

art o

f the

con

trac

t.

Yo

urs

fait

hfu

lly,

Mum

bai

Dat

eM

emb

er o

f N

atio

nal

Sto

ck E

xch

ang

e o

f In

dia

Ltd

.P

.T.O

.

Nam

e o

f P

artn

er/

Pro

pri

eto

r/A

uth

ori

sed

Sig

nat

ory

Dea

ling

Off

ice

Add

ress

/Tel

. no.

/Tlx

no.

/Fax

no.

Co

ntr

act

Sp

ecif

icat

ion

sQ

uan

tity

Pri

ceA

mo

un

t(R

s.)

41

EX

TR

AC

TS

FR

OM

TH

E B

YE

LA

WS

& R

EG

UL

AT

ION

S P

ER

TA

ININ

G T

O A

RB

ITR

AT

ION

(1)

All

clai

ms,

diff

eren

ces

or d

ispu

tes

betw

een

the

Tra

ding

Mem

bers

inte

r se

and

bet

wee

n T

radi

ng M

embe

rs a

nd C

onst

ituen

ts a

risi

ng

out o

f or

in r

elat

ion

to d

ealin

gs,

cont

ract

s an

d tr

ansa

ctio

ns m

ade

subj

ect t

o th

e B

ye-L

aws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e or

with

ref

eren

ce to

any

thin

g in

cide

ntal

ther

eto

or in

pur

suan

ceth

ereo

f or

rela

ting

to th

eir

valid

ity, c

onst

ruct

ion,

inte

rpre

tatio

n, fu

lfillm

ent o

r th

e ri

ghts

, obl

igat

ions

and

liab

ilitie

s of

the

part

ies

ther

eto

and

incl

udin

g an

y qu

estio

n of

whe

ther

suc

h de

alin

gs,

tran

sact

ions

and

con

trac

ts h

ave

been

ent

ered

int

o or

not

sha

ll be

sub

mitt

ed t

o ar

bitr

atio

n in

acc

orda

nce

with

th

e pr

ovis

ions

of

thes

eB

yela

ws

and

Reg

ulat

ions

.(2

)In

all

deal

ings

, con

trac

ts a

nd tr

ansa

ctio

ns, w

hich

are

mad

e or

dee

med

to b

e m

ade

subj

ect t

o th

e B

yela

ws,

Rul

es a

nd R

egul

atio

ns o

f the

Exc

hang

e, th

e pr

ovis

ions

rela

ting

to a

rbitr

atio

n as

pro

vide

d in

thes

e B

yela

ws

and

Reg

ulat

ions

sha

ll fo

rm a

nd s

hall

be d

eem

ed to

form

par

t of t

he d

ealin

gs,

con

trac

ts a

nd tr

ansa

ctio

ns a

nd th

epa

rtie

s sh

all b

e de

emed

to h

ave

ente

red

into

an

arbi

trat

ion

agre

emen

t in

wri

ting

by w

hich

all

clai

ms,

diff

eren

ces

or d

ispu

tes

of th

e na

ture

ref

erre

d to

in c

laus

e (1

)ab

ove

shal

l be

subm

itted

to a

rbitr

atio

n as

per

the

prov

isio

ns o

f the

se B

yela

ws

and

Reg

ulat

ions

.(3

)A

ll cl

aim

s, d

iffer

ence

s or

dis

pute

s re

ferr

ed to

in c

laus

e (1

) abo

ve s

hall

be s

ubm

itted

to a

rbitr

atio

n w

ithin

six

mon

ths

from

the

date

on

whi

ch th

e cl

aim

, diff

eren

ce o

r dis

pute

aros

e or

sha

ll be

dee

med

to h

ave

aris

en. T

he ti

me

take

n in

con

cilia

tion

proc

eedi

ngs,

if a

ny,

initi

ated

and

con

duct

ed a

s pe

r the

pro

visi

ons

of th

e A

ct a

nd th

e tim

e ta

ken

by th

e R

elev

ant A

utho

rity

to a

dmin

istr

ativ

ely

reso

lve

the

clai

ms,

diff

eren

ces

or d

ispu

tes

shal

l be

excl

uded

for

the

purp

ose

of d

eter

min

ing

the

perio

d of

six

mon

ths.

(4)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he s

eat o

f arb

itrat

ion

for

diff

eren

t reg

ions

sha

ll be

as

follo

ws:

Sea

ts o

f A

rbit

rati

on

– R

EG

ION

AL

ST

AT

ES

CO

VE

RE

D B

Y T

HE

RA

CA

RB

ITR

AT

ION

CE

NT

RE

S (R

AC

)

DE

LHI

Del

hi, H

arya

na, U

ttar P

rade

sh,

Him

acha

l Pra

desh

, Pun

jab,

Jam

mu

& Ka

shm

ir, C

hand

igar

h, R

ajas

than

.

KO

LKA

TA

Wes

t Ben

gal,

Biha

r, O

rissa

, Ass

am, A

runa

chal

Pra

desh

, Miz

oram

, Man

ipur

, Sik

kim

, Meg

hala

ya, N

agal

and,

Trip

ura.

CH

EN

NA

IAn

dhra

Pra

desh

, Kar

nata

ka, K

eral

a, T

amiln

adu,

And

aman

& N

icob

ar, L

aksh

adw

eep,

Pon

dich

erry

.

MU

MB

AI

Mah

aras

htra

, Guj

arat

, Goa

, Dam

an, D

iu, D

adra

& N

agar

hav

eli,

Mad

hya

Prad

esh.

(5)

Sav

e as

oth

erw

ise

spec

ified

by

the

Rel

evan

t Aut

hori

ty, t

he c

rite

ria

for

sele

ctio

n of

sea

t of a

rbitr

atio

n fo

r a

part

icul

ar m

att

er is

as

follo

ws:

Par

ties

to D

ispu

teP

lace

of f

iling

the

App

licat

ion

for

Arb

itrat

ion

Pla

ce o

f hea

ring

T M

* V

/s T

Ma)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

is s

ituat

ed in

any

one

of t

he s

tate

s co

vere

d by

a p

artic

ular

RA

C th

en th

e A

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed b

y th

e A

pplic

ant-

Tra

ding

Mem

ber

in th

at R

AC

.b)

If t

he d

ealin

g of

fices

of

both

Tra

ding

Mem

bers

fro

m w

here

the

dea

ling

was

car

ried

out

are

situ

ated

in s

tate

s co

vere

d by

diff

eren

t RA

C th

en th

eA

pplic

atio

n fo

r A

rbitr

atio

n sh

all b

e fil

ed in

the

RA

C c

over

ing

the

stat

e in

whi

ch th

e R

espo

nden

t -T

radi

ng M

embe

r's d

ealin

g of

fice

is s

ituat

ed.

The

hea

ring

sha

ll be

hel

d at

the

RA

C w

here

the

App

lican

t-T

radi

ng M

embe

r ha

s fil

ed th

e A

pplic

atio

n fo

r A

rbitr

atio

n an

dth

e R

espo

nden

t-T

radi

ng M

embe

r sh

all a

tten

d th

e he

arin

g in

that

par

ticul

ar R

AC

.

TM

V/s

C*

&C

V/s

TM

The

App

licat

ion

for

Arb

itrat

ion

shal

l be

file

d by

the

App

lican

t at

the

RA

Cco

veri

ng t

he s

tate

in w

hich

the

dea

ling

offic

e of

the

Tra

ding

Mem

ber

from

whi

ch th

e de

alin

g w

as c

arri

ed o

ut is

situ

ated

.

The

hea

ring

sha

ll be

hel

d in

tha

t R

AC

whe

re t

he A

pplic

ant

has

filed

the

App

licat

ion

for

Arb

itrat

ion

and

the

Res

pond

ent

shal

l att

end

the

hear

ing

in th

at p

artic

ular

RA

C.

* “

TM

” st

and

s fo

r “T

rad

ing

Mem

ber

” an

d “

C”

stan

ds

for

“Co

nst

itu

ent.

”F

or m

ore

deta

ils p

leas

e re

fer

to C

hapt

er X

I of t

he B

yela

ws

and

Cha

pter

5 o

f Fut

ures

& O

ptio

ns T

radi

ng R

egul

atio

ns o

f Nat

iona

l Sto

ck E

xcha

nge

of In

dia

Lim

ited.

42

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43

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44

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