VCK SHARE & STOCK BROKING SERVICES LIMITED · every year as a part of Annual Review) 5. ... Copy of...

VCK SHARE & STOCK BROKING SERVICES LIMITED Regd. Office. : 16, India Exchange Place, Room # 19, First, Floor, Kolkata - 700001

Corp. Office : “Duckback House”, 41, Shakespeare Sarani, Kolkata - 700017 Phone : +91 33 4009 9999; 2287 2387; Fax : +91 33 2287 8479

Compliance Officer E-mail : Customer Care E-mail : [email protected]

CLIENT REGISTRATION KIT

SEGMENT SEBI REGN. NO.

NSE CAPITAL MARKET INB 230469139

NSE FUTURES & OPTIONS INF 230469139

BSE CAPITAL MARKET INB 010469139

MCX-SX-CDS SEGMENT INE 260469139

CDSL IN-DP-CDSL-434-2007

CLIENT CODE A/c. Opening Date

CLIENT NAME

DO’S

a. Always deal with market intermediaries registered with SEBI/Exchanges.

b. Give clear and unambiguous instructions to your broker/agent/depository participant.

c. Always insist on contract notes for all the transactions from the main broker (VCK Share & Stock Broking Ser-vices Limited) within 24 hours of the trade execution. In case of doubt of the transactions, verify the genuine-ness of the same on the Exchange website www.bseindia.com/www.nseindia.com/www.mcx-sx.com.

d. Always settle the dues through the normal banking channels with the market intermediaries.

e. Always make payment directly to the main broker (VCK Share & Stock Broking Services Limited)

f. Always give delivery of shares directly to the main broker (VCK Share & Stock Broking Services Limited)

g. Adopt trading/investment strategies commensurate with your Risk bearing capacity as all investments carry risk, the degree of which varies according to the investment strategy adopted.

h. Always sign a Member-Client Agreement or the Tripartite Agreement with the Trading Member & SEBI Regis-tered Sub-Broker of the Trading Member of NSE/BSE/MCX-SX as the case may be.

i. Please carry out due diligence before registering as Client with any intermediary. Also, carefully read and under-stand the contents stated in the Risk Disclosure Document, which forms the part of Client Registration for deal-ing through intermediaries in the Stock Market.

DONT’S

a. Don’t deal with unregistered brokers/sub-brokers, intermediaries

b. Don’t leave the custody of your Demat Transaction Slip Book in the hands of any intermediary.

c. Don’t fall prey to promises of guaranteed returns.

d. Don’t blindly imitate investment decisions of others who may have profited from their investment decisions.

IN PERSON VERIFICATION DONE FOR M/S. VCK SHARE & STOCK BROKING SERVICES LIMITED

Name of the Employee

Designation of the Employee

Place & Date of the Verification

Collection Centre/Branch Details

___________________________

Signature of the Employee

____________ SIGNATURE OF THE CLIENT

FOR OFFICE USE ONLY : UNIQUE CONSTITUENT CODE

Checked By Approved By Account Code Updated By

(Name and Signature)



Remarks/Comments (if any) : ……………………………………………………………………………………………………………………………………..

…………………………………………………………………………………………………………………………………………………………………………………...

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SIGNATURE OF THE CLIENT

I N D E X

Contents with brief description Page

A. MANDATORY DOCUMENTS

1. LIST OF DOCUMENTS TO BE PROVIDED ALONG WITH KYC FORM & INSTRUCTIONS - (Contains an indicative list of documents to be provided by the Client at the time of Registration)

3 - 4

2. CLIENT REGISTRATION FORM - KYC - For Individual, Corporate, Firms and Others - ((Document deals with clients details such as Name/Address/Contact Nos/E-mail ID/Financial Details etc of Cli-ent in compliance with SEBI/Exchange)

5 - 11

3. AGREEMENT BETWEEN TRADING MEMBER & CLIENT - For NSE / BSE / MCX-SX - (Contains the agreed terms & conditions between Member and Constituent as prescribed by SEBI/Exchange)

13 - 24

4. COMBINED RISK DISCLOSURE - (This document deals with basic risks involved in trading on the exchanges which the Constituent must be aware of before entering into any dealing on Exchange)

25 - 30

5. INVESTORS RIGHTS & OBLIGATIONS - (Enumerates details about Rights of the Investor & his obli-gations with Member/Exchange)

31 - 32

6. POLICIES & PROCEDURES - (Policies & Procedures adopted & followed by the Member) 33 - 35

7. DECLARATION BY CLIENT IN RELATION TO THE PMLA, 2002 - (The document deals with other ad-ditional voluntary information to be provided by the Client in relation to prevention of Money Laundering Act, 2002.

36

B. NON MANDATORY DOCUMENTS

1. OTHER TERMS AND CONDITIONS - (Contains some additional voluntary clauses to be agreed be-tween the prospective client and Member which are not in contravention to any of the clauses in mandatory documents and to the rules & regulations, articles, bye-laws, circulars, directives & guidelines of SEBI/Exchange)

38 - 44

2. MUTUAL FUND SERVICE SYSTEM FACILITY (MFSS) / BSE StAR MUTUAL FUND FACILITY - (Contains the agreed terms & conditions for availing the Mutual Fund Service System Facility provided by NSE/BSE

45 - 46

3. AUTHORITY LETTER FOR RUNNING ACCOUNT - (The document deals with an option given to client to settle his obligations towards funds and securities on a running basis & settle the same at monthly/quarterly interval at his discretion)

47 - 48

4. ELECTRONIC PAYOUT REQUEST - (The document is meant to enable the Member to pay dues of the client through electronic mode)

48

5. DISCLOUSRE OF PROPRIETARY TRADING - (Disclosure of the Member about its dealing in Proprie-tary Accounts in accordance with rules & regulations of SEBI & Exchange)

49

6. SHARING OF DATA AND INFORMATION - (The document is meant to enable the Trading Member to share data/information of the client with its Group Companies/Associates/Affiliates)

49

7. ECN - DIGITAL COMMUNICATION & DECLARATION OF MOBILE NUMBER - (The document deals with the clauses relating to issue of Electronic Contract Notes & dissemination of information on Mobile Number)

50

I/We fully understood the distinction and details regarding the Mandatory/Non-Mandatory/DP documents and do hereby enter and sign the same and agree not to call into question the validity, enforce ability and applicability of any voluntary agreement(s)/document(s) or clauses within any voluntary/optional agreement(s)/document(s) un-der any circumstances whatsoever

2


I N D E X

Contents with brief description Page

8. LETTER FOR HOLDING PAYOUT OF FUNDS & SECURITIES - (The document authorizes Member to retain funds/securities towards future obligation of the Client)

51

9. LETTER TO DEBIT TRADING ACCOUNT FOR DP CHARGES/PENALTIES - (The document authorizes Member to debit the Clients Trading Account for DP Charges/Penalties)

51

10. VERBAL ORDER ACCEPTANCE AUTHORIZATION - (The documents authorizes Member to accept the verbal order placementof the Client)

52

11. INDEMNITY-CUM-UNDERTAKING FOR NAME DISCREPANCY - (The document is meant in case there is any discrepancy in the Name of the Client)

53

12. BANK VERIFICATION LETTER - (Required if bank statement is more than 2 months old) 54

13. AUTHORITY TO COLLECT & SIGN ALL DOCUMENTS - (The document authorizes another person to collect & sign all documents on behalf of the Clients)

54

14. ECS FORM : FORM NO. FR-10D 55

C. FORMATS

1. Declaration to be given by Sole Proprietorship / Guardian (in case of Minor) 56

3. Declaration to be given by Karta & All Co-Parceners in HUF Account 57

4. Board Resolution in case of Corporate 58

5. Authority Letter in favour of Managing Partners 59

D. DEMAT SECTION

1. DP - CLIENT AGREEMENT - For CDSL 61 - 71

3. NOMINATION FORM 72 - 73

4. POWER OF ATTORNEY 74

5. TERMS & CONDITIONS-CUM-REGISTRATION FORM FOR RECEIVING SMS ALTERS FROM CDSL 75 - 77

E. ANTI MONEY LAUNDERING / COMBATING FINANCING OF TERRORISM - LITERATURE - (An overview of what is Money Laundering, its Objective, its effect on economy and society & legal regulations to fight money laundering)

78 - 80

F. ANNEXURES

1. ANNEXURE - ‘A’ : TRIPARTITE AGREEMENT BETWEEN TRADING MEMBER, SUB-BROKER & CLIENT 85 - 89

2. ANNEXURE - ‘B’ : INTERNET BASED TRADING (NSE) - MEMBER CLIENT AGREEMENT 90 - 91

3. ANNEXURE - ‘C’ : INTERNET BASED TRADING (BSE) - MEMBER CLIENT AGREEMENT 92 - 98

DOCUMENTS REQUIRED (MANDATORY) ~ FOR INDIVIDUAL (RESIDENT INDIAN OR NRI)/SOLE PROPRIETORSHIP

FOR NON-INDIVIDUALS (COMPANY, PARTNERSHIP FIRM, HUF, TRUST, SOCIETY OR ANY OTHER ENTITY)

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Disclosure pursuant to NSE Circular No.NSE/INSP/2006/52 dt. 05-07-06 & BSE Circular No. 20060704-6 dt. 04-07-06.

Documents required as per SEBI Circular No. SEBI/MIRSD/DPS-1/CIR-31/2004 dated August 26, 2004

Read with SEBI Circular bearing Reference No. MIRSD/SE/CIR-19/2009 dated December 03, 2009

I N S T R U C T I O N S

1. Proof of Identity : Copy of PAN (Name in PAN Card should tally with the name mentioned in KYC)

2. Copy of Address Proof : Passport/Voter ID/Driving Licence/Bank (Passbook/Statement)/Rent Agree-ment/Ration Card/Telephone Bill/Electricity Bill/ Insurance Policy (Address should tally with the address mentioned in KYC)

3. One Passport Size Coloured Photograph

4. Cancelled Cheque Leaf & Copy of Bank Statement (not more than 2 (two) months old)

5. Copy of Demat Account Proof : Client Master / Holding Statement (if Account maintained with any other Depository Participant other than VCK Share & Stock Broking Services Limited)

6. Copy of complete Passport (In case of NRI Clients)

7. Copy of Proof of NRE / NRO Account (In case of NRI Clients)

1

2

8. Financial Details : Copy of ITR Acknowledgement/Copy of Annual Accounts/Copy of Form 16 in case of Salary Income/Net worth Certificate/Salary Slip/Bank Account Statement for last 6 months/Copy of Latest Demat Account Holding Statement. (Compulsory for Derivative Segment) (To be submitted every year as a part of Annual Review)

5. Copy of Bank Statement (for last 6 months) and Cancelled Cheque Leaf

1. Copy of PAN (Name in PAN Card should tally with the name mentioned in KYC)

2. Copy of Audited Annual Report for last 2 years (Copy of Annual Report has to be given every year)

3. Copy of latest shareholding pattern including list of all those holding more than 5% in the Share Capital of the Company/Profit Sharing Ratio (with percentage) duly Certified by Company Secretary/Whole Time Director/Managing Director/ Partner (Copy of Shareholding Pattern has to be provided every year)

4. Copy of Memorandum & Articles of Association/Partnership Deed/Trust Deed/Byelaws/HUF Deed/List of Co-Parceners

6. Copy of Demat Account Proof : Client Master/Holding Statement (if Account maintained with any other Depository Participant other than VCK Share & Stock Broking Services Limited)

1

7. Copy of Resolution passed by Board of Directors/Board of Trustees, to be certified by Chairman/Directors other than the Designated Signatory [Separately given in the voluntary section]

8. Photograph of Whole Time Directors/Promoters Holding 5% Shares/Authorised Signatories/Partners

9. PAN Card of Directors / Partners (at least two)

10. Address Proof of Directors / Partners (at least two)

11. Form - 32 indicating details of present Directors

1. Form should be completed in all respects in OWN HANDWRITING by client only

2. Please fill up the form in CAPITAL LETTERS.

3. For PROOF & VERIFICATION - Electricity Bill/Telephone Bill/Bank Statement copy should not be more than 2

months old from the date of registration.

4. All the documents submitted need to be -

Self Certified (For Individual Clients)

Stamped as “CERTIFIED TO BE TRUE COPY” & signed by Authorized Signatory (For Non-Individual Clients)

5. If any of above proofs is in a language other than HINDI or ENGLISH, Notarized copy for the same will only be

accepted.

6. Please note that ORIGINAL DOCUMENTS may be required to be produced for VERIFICATION.

7. Major mismatch in name of the Client with the supporting documents shall not be entertained. In case of mi-

nor mismatch, a Declaration has to be given by the Client (Separately given in the voluntary section).

8. Please note that TRADING ACCOUNT cannot be opened in JOINT NAME, separate form is required in respect

of all clients.

9. Please note that in the case of DEMAT ACCOUNT ALL JOINT HOLDERS SHOULD SIGN the relevant papers.

10. Please put FULL SIGNATURE wherever overwriting is done.

11. Please put FULL SIGNATURE at places marked as , wherever applicable

12. All the FIELDS in the FORM must be filled up (wherever applicable), otherwise the form may be rejected.

13. We also provide some special features like Internet Trading, Electronic Contract Note, Electronic Payout etc.,

to make your Trading activities more effective and advanced. In this connection, we seek your consent and

signature in some additional documents, which is absolutely at your discretion. (Documents enclosed in Vol-

untary / Non-Mandatory Section of the Kit)

14. In case of NRI Applicant, where the Client opts to repatriate funds, the foreign address proof should be sub-

mitted.

15. Wherever correspondence address is different from permanent address, please provide separate proof for

both the addresses mentioned.

16. In case of Non-Individual Clients, please check the MOA/Deed, allowing Investment and Trading in Share &

Derivative Products.

17. Please affix (not staple) passport size photograph(s) on the space provided. Also provide separate photo-

graphs for each holder, signed across at the space provided.

18. Please note that the mode of payment should be only by way of Account Payee Crossed Cheque/Demand

Draft in favour of “VCK Share & Stock Broking Services Limited - (Client Code No.) for Trading Account and in

favour of “I AM VCK” for Demat Account.

19. TRIPARTITE AGREEMENT needs to be signed ONLY when Client wants to Trade through Sub-Broker.

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PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY BEFORE FILING UP THE FORM

5


KNOW YOUR CLIENT (KYC)

(This information is the sole property of VCK SHARE & STOCK BROKING SERVICES LIMITED and would not be dis-closed to anyone unless required by law or except with the express permission of Clients).

To VCK SHARE & STOCK BROKING SERVICES LIMITED Regd. Office: 16, India Exchange Place, Kolkata - 700001 Corp. Office: ‘Duckback House’, 41, Shakespeare Sarani, Kolkata - 700017 Phone: (091) (033) 4009-9999; Fax: (091) (033) 2287-8479 E-mail: [email protected]

Composite Corporate Member BSE Member Code: 3133, SEBI Regn. No. INB 010469139 NSE Member Code: 04691, SEBI Regn. No. INB 230469139, INF 230469139 DP ID: 12053200, CDSL SEBI Regn. IN-DP-CDSL-434-2007

CLEARING MEMBER DETAILS (Applicable only for F&O and Currency Derivatives Segments) IL&FS SECURITIES SERVICES LIMITED Regd. Office: “IL&FS House” Raheja Vihar, Chandivili, Andheri (East), Mumbai - 400072 Phone : (91) (022) 2847-1472; Fax : (91) (022) 2857-6134 Kolkata Office: “Constantia”, 11, Dr. U. N. Brahmachari Street, Kolkata - 700017 Phone : (91) (033) 2281-5032; Fax : (91) (033) 2281-3190 SEBI Regn. No. INF 231133630

Affix Recent

Photograph of Client

(If Client is an Individual)

Please sign across on the photograph

Dear Sir,

I/We request you to register me/us as your Client. In this regard the following is furnished.

INFORMATION DETAILS (Please fill details in BLOCK letters)

TYPE OF ACCOUNT (Please tick () whichever is applicable)

INDIVIDUAL / SOLE PROP. HUF PARTNERSHIP

TRUST / SOCIETY NRI CORPORATE

IN CASE OF INDIVIDUAL / SOLE PROPRIETORSHIP FIRM

Name of the Client

Father’s/Husband’s/Guardian’s Name

PAN NO. Sex Male Female D D / M M / Y Y Y Y DOB

Marital Status Married Nationality Unmarried

Residential Status Indian NRI Others (Please specify) …………………………...

Name of Spouse

Spouse D.O.B. D D / M M / Y Y Y Y D D / M M / Y Y Y Y Date of Marriage

In case of Jt. A/c. in Demat, all Jt holders should sign

6

SIGNATURE OF THE CLIENT In case of Jt. A/c. in Demat, all Jt holders should sign

Residence Address

City

State Pin Country

E-mail

Phone Mobile Fax

Employed Self Employed Business Occupation

Professional House Wife Others (Please specify) ………………………...

Name of the Employer (If Employed)

Establishment (If Self Employed/Business/Professional/Others)

Office Address

City

State Pin Country

Phone Mobile Fax

Residence Office Communication Address

IN CASE OF NON-INDIVIDUAL

Name of the Client

Nature of Business

Date of Incorporation D D / M M / Y Y Y Y D D / M M / Y Y Y Y Commencement Date

Residential Status Indian NRI Others (Please specify) …………………………...

Regd. Office Address

City

State Pin Country

E-mail

Phone Mobile Fax

Correspondence Address

City

State Pin Country

SEBI/ROC Regn. No. D D / M M / Y Y Y Y SEBI/ROC Regn. Date

Phone Mobile Fax

Communication Address Registered Office Correspondence Address

7


IN CASE OF INDIVIDUAL & NON-INDIVIDUAL BOTH

Particulars of Bank Account and Demat Account from which the Client will carry out the Transaction

First Account (Default) Second Account Third Account

Bank Name

Branch Name

Bank Address

9 Digit MICR Code No.

IFSC CODE (RTGS / NEFT)

A/c. Type (Savings/Current/NRI/Others)

Bank A/c. No.

DP Name

Do you wish to receive dividend/interest directly into your Bank A/c. above through ECS? YES NO

DP Address

DP ID

TYPE NSDL CDSL NSDL CDSL NSDL CDSL

Client ID

EDUCATIONAL QUALIFICATION

Under Graduate Graduate Post Graduate Professional (Pl. specify)………………………..

PRIMARY PURPOSE OF TRADING

Speculative Hedging Investment

INVESTMENT EXPERIENCE

No prior Experience ____ Yrs. in Stock, ____ Yrs. in Derivatives, ____ Yrs. in any other Investment related field

Income Details 0 - 1 Lacs 1 - 5 Lacs 5 - 10 Lacs > 25 Lacs 10 - 25 Lacs

8


Whether registered with any other Broker-Member(s) YES No (if yes, than please furnish the following) (if registered with multiple members, provide details of all in a separate sheet)

Name of the Member ____________________________________________________________________

Name of the Exchange ____________________________________________________________________

Client Code No. ____________________________________________________________________

STOCK EXCHANGES & SEGMENTS ON WHICH YOU WISH TO TRADE / OPEN AN ACCOUNT

Please tick the appropriate box/s and cross the other ones

NSE-CM ____________ SIGNATURE OF THE CLIENT

BSE-CM ____________ SIGNATURE OF THE CLIENT

NSE-F&O ____________ SIGNATURE OF THE CLIENT

MCX-SX ____________ SIGNATURE OF THE CLIENT CDS

IBT ____________ SIGNATURE OF THE CLIENT

INTRODUCTION

Name of the Introducer

Existing Client Code PAN No.

Relation of the Introducer with the Client

Introducer’s Address

City

State Pin Country

Phone Mobile Signature of the Introducer

* If the Introducer is not affiliated with M/s. VCK Share & Stock Broking Services Limited, he/she is required to provide a copy of PAN Card and Address Proof

CLIENT INTERVIEWED BY EMPLOYEE

Name of the Employee

Designation

Date D D / M M / Y Y Y Y Signature of the Employee

9


Details of any action taken by SEBI / Stock Exchange / any other authority against the Individual; In case of Non-Individual, against the Constituent or its Partners / Promoters / Whole Time Directors / Authorized Persons in charge of dealing in Equities/F&O/Currency Derivatives for violation of laws/other economic offences (during last three years, pl. attach proof)

…………………………………………………………………………………………………………………………………………………………………………………….

…………………………………………………………………………………………………………………………………………………………………………………….

DECLARATION (PMLA) FOR CLIENTS FOR SPECIAL CATEGORY (Please tick whichever is applicable) :

I/We hereby declare that I/we do not fall under Clients of Special Category as defined in Prevention of Money Laundering Act, 2002, OR

I/We hereby declare that I/we fall under Clients of Special Category as defined in Prevention of Money Laun-dering Act, 2002

Non Resident Client High Net-worth Clients Trust, Charities, Non-Governmental Organisations (NGOs) and Organizations receiving donations Companies having close family shareholdings or beneficial ownership Politically Exposed Persons Companies offering foreign exchange offerings Clients in high risk countries where existence/effectiveness of money laundering controls is suspect Non face to face clients Clients with dubious reputation as per public information available etc.

DECLARATION

I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and be-lief and I/we undertake to inform you of any changes therein immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting I am/we are aware that I/we may be held liable for it.

Name

Place Date D D / M M / Y Y Y Y ____________ SIGNATURE OF THE CLIENT

IN CASE OF MINOR :- (Photograph of Guardian has to be affixed along with photograph of the minor)

Name of the Guardian (In case of the First/Second/Third holder is a Minor) - ONLY FOR DEMAT

Relationship with the minor

Photograph Signature of the Guardian :

Address

City

State Pin Country

E-mail PAN

Phone Mobile Fax

I.T. Circle / Ward / District

10

Personal Details of Guardian in case of Minor / Trustees in case of Trust / Proprietor in case of Sole Proprietor-ship Firm / Partners in case of Partnership Firm / WTD or MD and Authorized Person(s) to deal in Securities in

case of Company / Authorized Person(s) to deal in Securities in case of any other Non-Individual

Particulars 1st Signatory 2nd Signatory 3rd Signatory

Name

Residential Address

Telephone No.

Designation

Qualification

Experience

Date of Birth & Sex

Furnish at least any one :

IT No. (PAN/GIR)

Passport No.

Voter ID No.

Driving Licence No.

Ration Card No.

Equity Share (%)

Name of the Bank

Savings/Current A/c. No.

Address of the Bank with Pin Code

Photograph of Signatory

Signature

Note : Pl. provide details of all Directors/Partners/Trustees. Use separate sheets if space provided is insufficient

11

Personal Details of Guardian in case of Minor / Trustees in case of Trust / Proprietor in case of Sole Proprietor-ship Firm / Partners in case of Partnership Firm / WTD or MD and Authorized Person(s) to deal in Securities in

case of Company / Authorized Person(s) to deal in Securities in case of any other Non-Individual

Particulars 4th Signatory 5th Signatory 6th Signatory

Name

Residential Address

Telephone No.

Designation

Qualification

Experience

Date of Birth & Sex

Furnish at least any one :

IT No. (PAN/GIR)

Passport No.

Voter ID No.

Driving Licence No.

Ration Card No.

Equity Share (%)

Name of the Bank

Savings/Current A/c. No.

Address of the Bank with Pin Code

Photograph of Signatory

Signature

Note : Pl. provide details of all Directors/Partners/Trustees. Use separate sheets if space provided is insufficient

THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

AGREEMENT BETWEEN TRADING MEMBER AND CLIENT

This agreement is made and executed at _________________ this ________ day of _____________________ 20_______ between VCK SHARE & STOCK BROKING SERVICES LIMITED, a Body Corporate, incorporated under the Companies Act, 1956, being a Member of the NATIONAL STOCK EXCHANGE OF INDIA LIMITED (hereinafter called “the Exchange”) and having its Registered Office at 16, India Exchange Place, Room # 19, First Floor, Kolkata - 700001 and carrying on business from its Corporate Office at “Duckback House”, 41, Shakespeare Sarani, Kolkata - 700017 (hereinafter referred to as “the Trading Member”) which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include itself, in the capacity of a Trading Mem-ber while trading in the CAPITAL MARKET / F&O SEGMENT, its heirs, executors, administrators and legal representatives/the partners for the time being of the said Firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successor as the case may be, of the ONE PART;

AND

MR/MS./M/S. _____________________________________________________________________an individual / a Sole Proprietary Concern / a Partnership Firm / a Body Corporate, registered/incorporated, under the provisions of the Indian Partnership Act, 1932 / the Companies Act, 1952, having his/her/its Residence/Registered Office at ________________________________________ _______________________________________________________________(hereinafter called “the Client”) which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include his/her/its heirs, executors, administrators and legal representatives/the partners for the time being of the said Firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successors, as the case may be, of the OTHER PART;

WHEREAS the Trading Member is registered as a Trading Member of the Exchange with SEBI Registration Number INB 230469139 in the CAPITAL MARKET SEGMENT and SEBI Registration No. INF230469139 in the FUTURES & OP-TIONS SEGMENT; and

WHEREAS the Client is desirous of investing/trading in those Securities/F&O Contracts/other Instruments admitted to dealings on the Exchange as defined in the Rules, Bye-laws, Regulations of the Exchange and Circulars issued there under from time to time; and

WHEREAS the Client has satisfied himself/herself/itself of the capacity of the Trading Member to deal in Securities and/or F&O Contracts and wishes to execute his/her/its orders through the Trading Member and the Client shall from time to time, continue to satisfy himself/herself/itself of such capability of the Trading Member before exe-cuting orders through the Trading Member; and

WHEREAS the Trading Member has, satisfied itself and shall continuously satisfy itself about the genuineness and financial soundness of the Client and investment/trading objectives relevant to the services to be provided; and

13


NSE

__

____

____

__

SIG

NA

TURE

OF

THE

CLIE

NT

WHEREAS the Trading Member has taken steps and shall take steps to make the Client aware of the precise nature of the Trading Member’s liability for business to be conducted, including any limitation, the liability and the capabil-ity in which the Trading Member acts; and

WHEREAS the Trading Member and the Client agree to be bound by all the Rules, Bye-laws and Regulations of the Exchange and Circulars issued there under and Rules and Regulations SEBI and relevant notifications of Govern-ment Authorities as may be in force from time to time;

Now, therefore, in consideration of the mutual understanding as set forth in this Agreement, the parties hereto have agreed to the following terms and conditions.

1. The Client agrees to immediately notify the Trading Member, in writing, if there is any change in the informa-tion in the “Client Registration Form” provided by the Client to the Trading Member at the time of opening of the account or at any time thereafter.

2. The Trading Member declares that it has brought out the contents of the Risk Disclosure Document to the no-tice of the Client and made him/her/them aware of the significance of the said document. The Client agrees and declares as follows that :

a) He / She / They has/have read and understood the risks involved in trading on the Stock Exchange.

b) He / She / They shall be wholly responsible for all his/her/their investment decisions and trades.

c) 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 consequence for entering into trades in the segments in which the Client chooses to trade.

d) He / She / They is/are liable to pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the Trading Member or the Exchange or as may be directed by SEBI from time to time as applicable to the segments. The Trading Member 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 stipu-lated time.

e) 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 trades, 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 Trading Member, brokerage and statutory levies as are prevailing from time to time and as they apply to the Client’s account, transactions and to the services that Trading Member renders to the Client. The Trading Member agrees that it shall not charge brokerage more than the maximum broker-age 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 Trading Member or by the Exchange or Clearing Corporation or SEBI from time to time.

5. Without prejudice to the Trading Member’s other rights (including the right to refer a matter to arbitration), the Trading Member 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 or margin shortage etc., and adjust the proceeds of such liqui-dation/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 Trading Member agrees that the money/securities deposited by the Client shall be kept in a separate ac-count distinct from his/her/its own account or account of any other Client and shall not be used by the Trading Member for himself/herself/itself or for any other Client or for any purpose other than the purposes men-tioned in SEBI Rules and Regulations/Circulars/Guidelines/Exchange Rules/Regulations/Bye-laws and Circulars.

7. The Client agrees to immediately furnish information to the Trading Member in writing, if any winding up peti-tion or insolvency petition has been filed or any winding up or insolvency order or decree is passed against him/her/it or any winding up or insolvency order or decree or award is passed against him/her/it or if any liti-gation which may have material bearing on his/her/its capacity, has been filed against him/her/it.

14


8. The Trading Member agrees to inform the Client and keep him/her/it apprised about trading/settlement cy-cles, 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/her/its otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the Client has ordered to be bought or sold, the Trad-ing Member may close out the transaction of the Client and claim losses, if any, against the estate of the Cli-ent. The Client or his/her/its successors, heirs and assigns shall be entitled to any surplus that may result there from.

10. The Trading Member agrees that it shall co-operate in redressing grievances of the Client in respect of transac-tions 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 Trading Member shall continue to be responsible for replacing bad deliveries of the Client in accordance with applicable “Good and Bad Delivery Norms” even after termination of the Agreement and shall be enti-tled to recover any loss incurred by him/her/it in such connection from the Client.

12. The Trading Member shall ensure due protection to the Client regarding Client’s right 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 Trading Member and the Client are aware of the provisions of the Bye-laws, Rules and Regulations of the Exchange relating to resolution of dispute/differences through the mechanism of arbitration provided by the Exchange and agree to abide by the said provisions. The Client and the Trading Member agrees to refer any claims and/or disputes to arbitration as per the Rules, Regulations and Bye-laws of the Exchange and Circulars issued there under as may be in force from time to time.

14. The Trading Member hereby agrees that it 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 artificial 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 Trading Member and the Client agree to reconcile their accounts at the end of each quarter with refer-ence to all the settlements where payouts have been declared during the quarter.

17. The Trading Member and the Client agrees to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, 2003.

18. The Trading Member and the Client declare and agree that the transactions and contracts executed on the Exchange are subject to Rules, Regulations and Bye-laws 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, Regula-tions and Bye-laws 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 Trading Member for any reason ceases to be a Member of the Stock Exchange including cessation of Membership by reason of the Trading Member’s default, death, resigna-tion or expulsion or if the Certificate issued by the Board is cancelled.

22. The Trading Member 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 party. Notwithstand-ing any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of trans-

15


actions entered into prior to the termination of this Agreement shall continue to subsist and vest in/be binding on the respective parties or his/her/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 Trading Member and the Client shall be entitled to exercise any other rights which the Trading Member or the Client may have under the Rules, Regulations and Bye-laws 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, Regulations and Bye-laws of the Exchange and Circulars issued there under.

25. The Provisions of this Agreement shall always be subject to the Government Notifications, any Rules, Regula-tions, Guidelines and Circulars issued by SEBI and Rules, Regulations and Bye-laws of the relevant Stock Ex-change that may be in force from time to time.

26. The Trading Member hereby undertakes to maintain the details of the Client as mentioned in the Client Regis-tration 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 the Trading Member may so disclose information about the 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 Byelaws, Rules and Regulations of the relevant Stock Exchange, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this Agreement.

IN WITNESS THEREOF, the parties to this Agreement have caused these present to be executed as of the day and year first above written.

Note : All references to the specific quantity / rate / fee mentioned in this agreement are subject to change from time to time, as so agreed to in writing between the parties.

16

The Client’s Signature/Authorized Signatory :

Signed by :

Title :

Name of the Client …………………………………………………...

Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :

For VCK SHARE & STOCK BROKING SERVICES LIMITED

Authorised Signatory/Director

Signed by :

Title :

Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :


This agreement is made and executed at _________________ this ________ day of _____________________ 20_______ between VCK SHARE & STOCK BROKING SERVICES LIMITED, a Body Corporate, incorporated under the Companies Act, 1956, being a Member of the BOMBAY STOCK EXCHANGE LIMITED (hereinafter called “the Exchange”) and having its Registered Office at 16, India Exchange Place, Room # 19, First Floor, Kolkata - 700001 and carrying on business from its Cor-porate Office at “Duckback House”, 41, Shakespeare Sarani, Kolkata - 700017 (hereinafter referred to as “the Trading Member”) which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include itself, in the capacity of a Trading Member while trading in the CAPITAL MARKET SEGMENT, its heirs, executors, administrators and legal representatives/the partners for the time being of the said Firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successor as the case may be, of the ONE PART;

AND


WHEREAS the Trading Member is registered as a Trading Member of the Exchange with SEBI Registration Number INB 010469139 in the CAPITAL MARKET SEGMENT; and

WHEREAS the Client is desirous of investing/trading in those Securities/F&O Contracts/other Instruments admitted to dealings on the Exchange as defined in the Rules, Bye-laws, Regulations of the Exchange and Circulars issued there under from time to time; and

WHEREAS the Client has satisfied himself/herself/itself of the capacity of the Trading Member to deal in Securities and/or F&O Contracts and wishes to execute his/her/its orders through the Trading Member and the Client shall from time to time, continue to satisfy himself/herself/itself of such capability of the Trading Member before exe-cuting orders through the Trading Member; and


17


BSE

__

____

____

__

SIG

NA

TURE

OF

THE

CLIE

NT



Now, therefore, in consideration of the mutual understanding as set forth in this Agreement, the parties hereto have agreed to the following terms and conditions.

1. The Client agrees to immediately notify the Trading Member, in writing, if there is any change in the informa-tion in the “Client Registration Form” provided by the Client to the Trading Member at the time of opening of the account or at any time thereafter.

2. The Trading Member declares that it has brought out the contents of the Risk Disclosure Document to the no-tice of the Client and made him/her/them aware of the significance of the said document. The Client agrees and declares as follows that :

a) He / She / They has/have read and understood the risks involved in trading on the Stock Exchange.

b) He / She / They shall be wholly responsible for all his/her/their investment decisions and trades.

c) 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 consequence for entering into trades in the segments in which the Client chooses to trade.

d) He / She / They is/are liable to pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the Trading Member or the Exchange or as may be directed by SEBI from time to time as applicable to the segments. The Trading Member 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 stipu-lated time.

e) 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 trades, 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 Trading Member, brokerage and statutory levies as are prevailing from time to time and as they apply to the Client’s account, transactions and to the services that Trading Member renders to the Client. The Trading Member agrees that it shall not charge brokerage more than the maximum broker-age 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 Trading Member or by the Exchange or Clearing Corporation or SEBI from time to time.

5. Without prejudice to the Trading Member’s other rights (including the right to refer a matter to arbitration), the Trading Member 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 or margin shortage etc., and adjust the proceeds of such liqui-dation/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 Trading Member agrees that the money/securities deposited by the Client shall be kept in a separate ac-count distinct from his/her/its own account or account of any other Client and shall not be used by the Trading Member for himself/herself/itself or for any other Client or for any purpose other than the purposes men-tioned in SEBI Rules and Regulations/Circulars/Guidelines/Exchange Rules/Regulations/Bye-laws and Circulars.

7. The Client agrees to immediately furnish information to the Trading Member in writing, if any winding up peti-tion or insolvency petition has been filed or any winding up or insolvency order or decree is passed against him/her/it or any winding up or insolvency order or decree or award is passed against him/her/it or if any liti-gation which may have material bearing on his/her/its capacity, has been filed against him/her/it.

18


8. The Trading Member agrees to inform the Client and keep him/her/it apprised about trading/settlement cy-cles, 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/her/its otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the Client has ordered to be bought or sold, the Trad-ing Member may close out the transaction of the Client and claim losses, if any, against the estate of the Cli-ent. The Client or his/her/its successors, heirs and assigns shall be entitled to any surplus that may result there from.

10. The Trading Member agrees that it shall co-operate in redressing grievances of the Client in respect of transac-tions 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 Trading Member shall continue to be responsible for replacing bad deliveries of the Client in accordance with applicable “Good and Bad Delivery Norms” even after termination of the Agreement and shall be enti-tled to recover any loss incurred by him/her/it in such connection from the Client.

12. The Trading Member shall ensure due protection to the Client regarding Client’s right 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 Trading Member and the Client are aware of the provisions of the Bye-laws, Rules and Regulations of the Exchange relating to resolution of dispute/differences through the mechanism of arbitration provided by the Exchange and agree to abide by the said provisions. The Client and the Trading Member agrees to refer any claims and/or disputes to arbitration as per the Rules, Regulations and Bye-laws of the Exchange and Circulars issued there under as may be in force from time to time.

14. The Trading Member hereby agrees that it 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 artificial 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).


17. The Trading Member and the Client agrees to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, 2003.

18. The Trading Member and the Client declare and agree that the transactions and contracts executed on the Exchange are subject to Rules, Regulations and Bye-laws 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, Regula-tions and Bye-laws 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 Trading Member for any reason ceases to be a Member of the Stock Exchange including cessation of Membership by reason of the Trading Member’s default, death, resigna-tion or expulsion or if the Certificate issued by the Board is cancelled.

22. The Trading Member 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 party. Notwithstand-ing any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of trans-

19


actions entered into prior to the termination of this Agreement shall continue to subsist and vest in/be binding on the respective parties or his/her/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 Trading Member and the Client shall be entitled to exercise any other rights which the Trading Member or the Client may have under the Rules, Regulations and Bye-laws 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, Regulations and Bye-laws of the Exchange and Circulars issued there under.

25. The Provisions of this Agreement shall always be subject to the Government Notifications, any Rules, Regula-tions, Guidelines and Circulars issued by SEBI and Rules, Regulations and Bye-laws of the relevant Stock Ex-change that may be in force from time to time.

26. The Trading Member hereby undertakes to maintain the details of the Client as mentioned in the Client Regis-tration 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 the Trading Member may so disclose information about the Client to any person or authority with the express permission of the Client.





20


Signed by :

Title :


Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :



Signed by :

Title :

Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :


This agreement is made and executed at _________________ this ________ day of _____________________ 20_______ between VCK SHARE & STOCK BROKING SERVICES LIMITED, a Body Corporate, incorporated under the Companies Act, 1956, being a Member of the MCX STOCK EXCHANGE LIMITED (hereinafter called “the Exchange”) and having its Registered Office at 16, India Exchange Place, Room # 19, First Floor, Kolkata - 700001 and carrying on business from its Corporate Office at “Duckback House”, 41, Shakespeare Sarani, Kolkata - 700017 (hereinafter referred to as “the Trading Member”) which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include itself, in the capacity of a Trading Member while trading in the CUR-RENCY DERIVATIVES SEGMENT, its heirs, executors, administrators and legal representatives/the partners for the time being of the said Firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successor as the case may be, of the ONE PART;

AND


WHEREAS the Trading Member is registered as a Trading Member of the Exchange with SEBI Registration Number INE 260469139 in the CURRENCY DERIVATIVES SEGMENT; and

WHEREAS the Client is desirous of investing/trading in those Securities/Contracts/other Instruments admitted to dealings on the Exchange as defined in the Rules, Bye-laws, Regulations of the Exchange and Circulars issued there under from time to time; and

WHEREAS the Client has satisfied himself/herself/itself of the capacity of the Trading Member to deal in Securities and/or deal in Equity/Currency Derivatives Contracts and wishes to execute his/her/its orders through the Trading Member and the Client shall from time to time, continue to satisfy himself/herself/itself of such capability of the Trading Member before executing orders through the Trading Member; and


21


MCX-SX

__

____

____

__

SIG

NA

TURE

OF

THE

CLIE

NT



Now, therefore, in consideration of the mutual understanding as set forth in this agreement, the parties thereto have agreed to the following terms and conditions:

1. The Client agrees to immediately notify the Trading Member in writing if there is any change in the informa-tion in the ‘Client Registration Form’ provided by the Client to the Trading Member at the time of opening of the account or at any time thereafter.

2. The Trading Member 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 :

a) He has read and understood the risks involved in trading on a stock exchange.

b) He shall be wholly responsible for all his decisions and trades.

c) The failure of the Client to understand the risks 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 segment

d) He is liable to pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the Trading Member or the Exchange or as may be directed by SEBI from time to time as applicable to the segment. The Trading Member is permitted in its sole and absolute discretion to collect additional margins (even though not required by the Exchange, Clearing House/Clearing Corpo-ration or SEBI) and the Client shall be obliged to pay such margins within the stipulated time.

e) 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 Trading Member brokerage and statutory levies as are prevailing from time to time and as they apply to the Client’s account, transactions and to the services that Trading Member renders to the Client.

4. The Trading Member agrees that it shall not charge brokerage more than the maximum brokerage permissible as per the Rules, Regulations and Byelaws of the relevant Stock Exchange/SEBI.

5. The Client agrees to abide by the exposure limits, if any, set by the Trading Member or by the Exchange or Clearing House/Clearing Corporation or SEBI from time to time.

6. Without prejudice to the Trading Member's other rights (including the right to refer a matter to arbitration), the Trading Member 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 liqui-dation/closing-out shall be charged to and borne by the Client.

7. The Trading Member agrees that the money/securities deposited by the Client shall be kept in a separate ac-count, distinct from his/its account or account of any other Client and shall not be used by the Trading Mem-ber for himself/itself or for any other Client or for any purpose other than the purposes mentioned in SEBI Rules and Regulations, Circulars /Guidelines / Exchange’s Rules / Regulations / Byelaws and Circulars.

8. The Client agrees to immediately furnish information to the Trading Member in writing, if any winding up peti-tion 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.

9. The Trading Member agrees to inform the Client and keep him apprised about trading/settlement cycles, de-livery/payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of

22


the Client to comply with such schedules/procedures of the Stock Exchange.

10. In the event of death or insolvency of the Client or his/its otherwise becoming incapable of receiving and pay-ing for any contracts which the Client has ordered to be bought or sold, or of delivering or transferring securi-ties, the Trading Member may close out the transaction of the Client and claim losses, if any, against the es-tate of the Client. The Client or his successors, heirs and assigns shall be entitled to any surplus which may re-sult there from.

11. The Client and the Trading Member agree to refer any claims and/or disputes to arbitration as per the Rules, Byelaws and Regulations of the Exchange and Circulars issued there under as may be in force from time to time.

12. The Trading Member hereby agrees that he shall ensure faster settlement of any arbitration proceedings aris-ing 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.

13. 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).


15. The Trading Member and the Client agree to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, 2003.

16. The Trading Member and the Client declare and agree that the transactions executed on the Exchange are subject to Rules, Byelaws 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 Byelaws and Regu-lations 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.

17. 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.

18. Where the Exchange cancels trade(s) suo-moto all such trades including the trade/s done on behalf of the Cli-ent shall ipso facto stand cancelled.

19. This agreement shall forthwith terminate, if the Trading Member for any reason ceases to be a Member of the Stock Exchange including Cessation of Membership by reason of the Trading Member’s default, death, resigna-tion or expulsion or if the Certificate issued by the Board is cancelled.

20. The Trading Member 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. Notwithstand-ing any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of trans-actions 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 succes-sors, as the case may be.

21. In addition to the specific rights set out in this Agreement, the Trading Member and the Client shall be entitled to exercise any other rights which the Trading Member 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.

22. 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, Byelaws and Regulations of the Exchange and Circulars issued there under.

23. 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 Byelaws of the relevant Stock Exchange that may be in force from time to time.

23


24. The Trading Member hereby undertakes to maintain the details of the Client as mentioned in the Client Regis-tration 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 Trading Member may so disclose information about its his Client to any person or authority with the express permission of the Client.





24


Signed by :

Title :


Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :



Signed by :

Title :

Witness :

1. Name : …………………………………………………...

Address : …………………………………………………...

…………………………………………………...

Signature :

2. Name : …………………………………………………...

Address …………………………………………………...

…………………………………………………...

Signature :

COMBINED RISK DISCLOSURE DOCUMENT FOR CAPITAL MARKET / CASH SEGMENT AND FUTURES & OPTIONS

SEGMENT & CURRENCY DERIVATIVES SEGMENT

(TO BE GIVEN BY THE TRADING MEMBER TO THE CLIENT)

This document is issued by the Member of the NATIONAL STOCK EXCHANGE OF INDIA LIMITED (hereinafter re-ferred to as “NSE”)/BOMBAY STOCK EXCHANGE LIMITED (hereinafter referred to as “BSE”) and MCX STOCK EX-CHANGE LIMITED (hereinafter referred to as “MCX-SX”), which has been formulated by the Exchanges in co-ordination with the SECURITIES AND EXCHANGE BOARD OF INDIA LIMITED (hereinafter referred to as “SEBI”) and contains important information on trading in Equities, F&O and Currency Derivatives Segments of NSE/BSE/MCX-SX. All prospective constituents should read this document before trading on Capital Market/Cash Segment or F&O Segment or Currency Derivatives Segment of the Exchanges.

NSE/BSE/MCX-SX/SEBI does neither singly or jointly and expressly nor impliedly guarantee nor make any represen-tation concerning the completeness, the adequacy or accuracy of this disclosure document nor has NSE/BSE/MCX-SX/SEBI endorsed or passed any merits of participating in the trading segments. This brief statement does not dis-close all the risks and other significant aspects of trading.

In the light of the risks involved, you should undertake transactions only if you understand the nature of the con-tractual relationship into which you are entering and the extent of your exposure to risks.

You must know and appreciate that investment in Equity Shares, Derivative or other instruments traded on the Stock Exchange(s), which have varying element of risk, is generally not an appropriate avenue for someone of lim-ited resources/limited investment and/or trading experience and low risk tolerance. You should therefore carefully consider whether such trading is suitable for you in the light of your financial condition. In case you trade on NSE/BSE/MCX-SX and suffer adverse consequences or loss, you shall be solely responsible for the same and NSE/BSE/MCX-SX, its Clearing Corporation/Clearing House and/or SEBI shall not be responsible, in any manner whatsoever, for the same and it will not be open for you to take a plea that no adequate disclosure regarding the risks involved was made or that you were not explained the full risk involved by the concerned Member. The constituent shall be solely responsible for the consequences and no contract can be rescinded on that account. You must acknowledge and accept that there can be no guarantee of profits or no exception from losses while executing orders for pur-chase and/or sale of a security or derivative being traded on NSE/BSE/MCX-SX.

It must be clearly understood by you that your dealings on NSE/BSE/MCX-SX through a Member shall be subject to your fulfilling certain formalities set out by the Member, which may interalia include your filling the Know Your Cli-ent Form, Client Registration Form, Execution of an Agreement etc., and are subject to the Rules, Regulations and Bye-laws of NSE/BSE/MCX-SX and its Clearing Corporation, guidelines prescribed by SEBI, and in force from time to time and Circulars as may be issued by NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House and in force from time to time.

NSE/BSE/MCX-SX does not provide or purport to provide any advice and shall not be liable to any person who en-ters into any business relationship with any Trading Member and/or Sub-Broker of NSE/BSE/MCX-SX and/or any third party based on any information contained in this document. Any information contained in this document must not be construed as business advice/investment advice. No consideration to trade should be made without thoroughly understanding and reviewing the risks involved in such trading. If you are unsure, you must seek profes-sional advice on the same.

In considering whether to trade or authorize someone to trade for you, you should be aware of or must get ac-quainted with the following :

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1. BASIC RISKS INVOLVED IN TRADING ON THE STOCK EXCHANGE (EQUITY AND OTHER INSTRUMENTS)

1.1 RISK OF HIGHER VOLATILITY Volatility refers to the dynamic changes in price that securities undergo when trading activity continues on the Stock Exchange. Generally, higher the volatility of a security/contract, greater is its price swings. There may be normally greater volatility in thinly traded securities ties/contracts then in active securities/contracts. As a result of volatility, your order may only be partially executed or not executed at all, or the price at which your order got executed may be substantially different from the last traded price or change substantially thereafter, resulting in notional or real losses.

1.2 RISK OF LOWER LIQUIDITY Liquidity refers to the ability of market participants to buy and/or sell securities/contracts expeditiously at a competitive price and with minimal price difference. Generally, it is assumed that more the numbers of orders available in a market, greater is the liquidity. Liquidity is important because with greater liquid-ity, it is easier for investors to buy and/or sell securities/contracts swiftly and with minimal price differ-ence, and as a result, investors are more likely to pay or receive a competitive price for securities/contracts purchased or sold. There may be a risk of lower liquidity in some securities/contracts as com-pared to active securities/contracts. As a result, your order may only be partially executed, or may be executed with relatively greater price difference or may not be executed at all.

1.2.1 Buying/selling without intention of giving and/or taking delivery of a security, as a part of a day trading strategy, may also result into losses, because in such a situation, stocks may have to be sold/purchased at a low/high prices, compared to the expected price levels, so as not to have any obligation to deliver/receive a security.

1.3 RISK OF WIDER SPREADS 1Spread refers to the difference in best buy price and best sell price. It represents the differential be-tween the price of buying a security and immediately selling it or vice-versa. Lower liquidity and higher volatility may result in wider than normal spreads for less liquid or illiquid securities/contracts. This in turn will hamper better price formation.

1.4 RISK-REDUCING ORDERS Most Exchanges have a facility for investors to place “limit orders”, “stop loss orders” etc. The placing of such orders (e.g., “stop loss” orders or “limit” orders) which are intended to limit losses to certain amounts may not be effective many a time, because rapid movement in market conditions may make it impossible to execute such orders.

1.4.1 A “market” order will be executed promptly, subject to availability of orders on opposite side, without regard to price and that, while the customer may receive a prompt execution of a “market” order, the execution may be at available prices of outstanding orders, which satisfy the order quantity, on price time priority. It may be understood that these prices may be significantly different from the last traded price or the best price in that security.

1.4.2 A “limit” order will be executed only at the “limit” price specified for the order or a better price. However, while the customer receives price protection, there is a possibility that the order may not be executed at all.

1.4.3 A stop loss order is generally placed “away” from the current price of a security/contract, and such order gets activated if and when the security/contract reaches, or trades through, the stop price. Sell stop orders are entered ordinarily below the current price and buy stop orders are entered ordinarily above the current price. When the security reaches the pre-determined price or trades through such price, the stop loss order converts to a market/limit order and is executed at the

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or better. There is no assurance therefore that the limit order will be executable since a security/contract might penetrate the pre-determined price in which case, the risk of such order not get-ting executed arises, just as with a regular limit order.

1.5 RISK OF NEWS ANNOUNCEMENTS Issuers make news announcements that may impact the price of the securities/contracts. These an-nouncements may occur during trading and when combined with lower liquidity and higher volatility, may suddenly cause an unexpected positive or negative movement in the price of the security/contract.

1.6 RISK OF RUMOURS Rumours about Companies at times float in the market through word of mouth, newspapers, websites or news agencies etc. The investors should be wary of and should desist from acting on rumours.

1.7 SYSTEM RISK High volume trading will frequently occur at the market opening and before market closes. Such high vol-umes may also occur at any point in the day. These may cause delays in order execution or confirmation.

1.7.1 During periods of volatility, on account of market participants continuously modifying their order quantity or prices or placing fresh orders, there may be delays in order execution and its confirma-tion.

1.7.2 Under certain market conditions, it may be difficult or impossible to liquidate a position in the market at a reasonable price or at all, when there are no outstanding orders either on the buy side or the sell side, or if trading is halted in a security due to any action on account of unusual trading activity or stock hitting circuit filters or for any other reason.

1.8 SYSTEM/NETWORK CONGESTION Trading on NSE/BSE/MCX-SX is in Electronic Mode, based on satellites/leased line based communica-tions, combination of technologies and computer systems to place and route orders. Thus, there exists a possibility of communication failure or system problems or slow or delayed response from system or trading halt, or any such other problems/glitch whereby not being able to establish access to the trading system/network, which may be beyond the control of and may result in delay in processing or not proc-essing buy or sell orders either in part or in full. You are cautioned to note that although these problems may be temporary in nature, but, when you have outstanding open positions or unexecuted orders, these represent a risk because of your obligation to settle all executed transactions.

1.9 BANDH / STRIKE / NEAT DISABLEMENT / FORCE MAJEURE / POWERCUTS 1.9.1 NSEIL remains open as per all India working days, while in Kolkata & West Bengal, there are extra

holidays on such days (like Kolkata Bandh, General Strike, Transport Strike, Puja Holidays etc.,). Moreover Kolkata City is prone to water logging and traffic jams on the rainy days/days of proces-sions and rallies, rasta roka and rail roka etc. The Trading Member, its Management and Staff make their best efforts to keep their office open and to run their NEAT System on such days. How-ever, despite their such efforts, it may not be possible to reach office or open the office or run the NEAT system. In such an eventuality the Investor Client has the risk of consequences of not being able to deal/square off his/her/their open positions in trade and the risk of price fluctuation, which he/her/them, himself/herself/themselves, has/have to bear.

1.9.2 The Trading Member has a stand by generator. Since Power cuts/Load Shedding are common and unpredictable in Kolkata, it may take some time to re-start the system through alternative source of electric/generator. In the case of power cut/load shedding on some occasions, due to circum-stances beyond the control of the Trading Member, the system may not be restarted at all or there may be delay. In such circumstances the Client/Investor has the risk of consequences of not

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being able to deal/square off his/her/their open positions in trades and the risk of price fluctua-tion which he/her/them, himself/herself/themselves, has/have to bear.

1.9.3 The Trading Member makes its best efforts to keep sufficient base Capital/Margin etc., with NSEIL/NSCCL to enable it to execute trades (volumes) as per limits permitted by them. However, due to wide fluctuation/sudden impositions/restrictions trust upon the Trading Member by them, the NEAT System of the Trading Member may be temporarily suspended. The Trading Member makes the best efforts to arrange for funds-transfer from designated banks to enable it to get re-activation by NSEIL. However, on some occasions, due to circumstances beyond the control of the Trading Member (like Banks not working/concerned officers not available/time taken between confirmation by BANK to NSEIL/NSCCL etc.) there are chances of delay in restoration of the system or it may not be restored at all, in such eventually the Client/Investor has the risk of consequences of not being able to deal/square off his/her/their open positions in trade and the risk of price fluc-tuation which he/her/them, himself/herself/themselves, has/have to bear.

2. AS FAR AS FUTURES AND OPTIONS SEGMENT AND CURRENCY DERIVATIVES SEGMENT IS CONCERNED, PLEASE NOTE AND GET YOURSELF ACQUAINTED WITH THE FOLLOWING ADDITIONAL FEATURES :

2.1 EFFECT OF “LEVERAGE” OR “GEARING” The amount of margin is small relative to the value of the derivatives contract so the transactions are “leverage” or “geared”. Derivatives trading, which is conducted with a relatively small amount of margin, owing statements before actually trading in derivatives trading and also trade with caution while taking into account one’s circumstances, financial resources etc. If the prices move against you, you may lose a part of or whole margin equivalent to the principal amount in a relatively short period of time. Moreover, the loss may exceed the original margin amount.

A) Futures trading involves daily settlement of all positions. Every day the open positions are marked to market based on the closing level of the index. If the index has moved against you, you will be re-quired to deposit the amount of loss (notional) resulting from such movement. This margin will have to be paid within a stipulated time frame, generally before commencement of trading next day.

B) If you fail to deposit the additional margin by the deadline, or if an outstanding debt occurs in your account, the Broker/Member may liquidate a part of or the whole position or substitute securities. In this case, you will be liable for any losses incurred due to such close-outs.

C) Under certain market conditions, an investor may find it difficult or impossible to execute transac-tions. For example, this situation can occur due to factors such as illiquidity i.e. when there are insuf-ficient bids or offers or suspension of trading due to price limit or circuit breakers etc.

D) In order to maintain market stability, the following steps may be adopted, changes in the margin rate, increases in the cash margin rate or others. These new measures may also be applied to the existing open interests. In such conditions, you will be required to put up additional margins or reduce your positions.

E) You must ask your Broker to provide the full details of the derivatives contracts you plan to trade i.e. the contract specifications and the associated obligations.

2.2 RISK OF OPTION HOLDERS 2.2.1 An option holder runs the risk of losing the entire amount paid for the option in a relatively short

period of time. This risk reflects the nature of an option as a wasting asset which becomes worth-less when it expires. An option holder who neither sells his option in the secondary market nor exercises it prior to its expiration will necessarily lose his entire investment in the option. If the price of the underlying does not change in the anticipated direction before the option expires to an extent sufficient to cover the cost of the option, the investor may lose all or a significant part of

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his investment in the option.

2.2.2 The Exchange may impose exercise restrictions and have absolute authority to restrict the exercise of options at certain times in specified circumstances.

2.3 RISKS OF OPTION WRITERS 2.3.1 If the price movement of the underlying is not in the anticipated direction, the option writer runs

the risks of losing substantial amount.

2.3.2 The risk of being an option writer may be reduced by the purchase of other options on the same underlying interest and thereby assuming a spread position or by acquiring other types of hedging positions in the options markets or other markets. However, even where the writer has assumed a spread or other hedging position, the risks may still be significant. A spread position is not neces-sarily less risky than a simple ‘long’ or ‘short’ position.

2.3.3 Transactions that involve buying and writing multiple options in combination, or buying or writing options in combination with buying or selling short the underlying interests, present additional risks to investors. Combination transactions, such as option spreads are more complex than buy-ing or writing a single option. And it should be further noted that, as in any area of investing, a complexity not well understood is, in itself, a risk factor. While this is not to suggest that combina-tion strategies should not be considered, it is advisable, as is the case with all investments in op-tions, to consult with someone who is experienced and knowledgeable with respect to the risks and potential rewards of combination transactions under various market circumstances.

2.4 CURRENCY SPECIFIC RISK 2.4.1 The Profit or Loss in transactions in Foreign Currency-denominated contracts, whether they are

traded in your own or another jurisdiction, will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.

2.4.2 Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example when a currency is deregulated or fixed trading brands are widened.

2.4.3 Currency prices are highly volatile. Price movements for currencies are influenced by, among other things; changing supply-demand relationships; trade, fiscal, monetary, exchange control programs and policies of governments, foreign political and economic events and policies; changes in na-tional and international interest rates and inflation; currency devaluation; and sentiment of the market place. None of these factors can be controlled by any individual advisor and no assurance can be given that an advisor’s advice will result in profitable trades for a participating customer or that a customer will not incur losses from such events.

3. GENERAL : 3.1 COMMISSION AND OTHER CHARGES

Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.

3.2 DEPOSITED CASH AND PROPERTY You should familiarize yourself with the protections accorded to the money or other property you deposit particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property, may be governed by specific legislation or local rules. In some jurisdictions, property which has been specifically identifiable as your own will be pro-rated in the same manner as cash for pur-poses of distribution in the event of a shortfall. In case of any dispute with the Member, the same shall be subject to arbitration as per the Bye-laws/Regulations of the Exchange.

3.3 For rights and obligations of the Clients, please refer to Annexure - 1 enclosed with this document.

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3.4 The term ‘Constituent’ shall mean and include a Client, a Customer or an Investor, who deals with a Member for the purpose of acquiring and/or selling of securities through the mechanism provided by NSE/BSE/MCX-SX.

3.5 The term ‘Member’ shall mean and include a Trading Member, a Broker or a Stock Broker, who has been admitted as such by NSE/BSE/MCX-SX and who holds a Registration Certificate as a Stock Broker from SEBI.

I hereby acknowledge that I have received and understood the risk disclosure statement and Annexure - 1 con-taining my rights and obligations. ____________ DD - MM - YYY

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ANNEXURE - 1

INVESTORS’ RIGHTS AND OBLIGATIONS

1.1 You should familiarize yourself with the protection accorded to the money or other property, you may de-posit with your Member, particularly in the event of a default in the Stock Market or the Broking Firm’s insol-vency or bankruptcy.

1.1.1 Please ensure that you have a documentary proof of your having made deposit of such money or property with the Member, stating towards which account such money or property deposited.

1.1.2 Further, it may be noted that the extent to which you may recover such money or property may be governed by the Regulations and Bye-laws of NSE/BSE/MCX-SX and the scheme of the Investors’ Pro-tection Fund in force from time to time.

1.1.3 Any dispute with the Member with respect to deposits, margin money etc., and producing an appro-priate proof thereof, shall be subject to arbitration as per the Rules, Regulations and Bye-laws of NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House.

1.2 Before you begin to trade, you should obtain a clear idea from your Member of all Brokerage, Commissions, Fees and other charges which will be levied on you for trading. These charges will affect your net cash inflow or outflow.

1.3 You should exercise due diligence and comply with the following requirements of the NSE/BSE/MCX-SX and/or SEBI.

1.3.1 Please deal only with and through SEBI Registered Members of the Stock Exchange and are enabled to trade on the Exchange. All SEBI Registered Members are given a Registration No., which may be verified from SEBI. The details of all Members of NSE/BSE/MCX-SX and whether they are enabled to trade may be verified from NSE/BSE/MCX-SX Website (www.nseindia.com/www.bseindia.com/www.mcx-sx.com).

1.3.2 Demand any such information, details and documents from the Member, for the purpose of verifica-tion, as you may find it necessary to satisfy yourself about his/its credentials.

1.3.3 Furnish all such details in full as are required by the Member as required in “Know Your Client Form”, which may also include details of PAN or Passport or Driving Licence or Voters ID or Ration Card, Bank Account and Depository Account or any such details made mandatory by SEBI/NSE/BSE/MCX-SX at any time, as is available with the Investor.

1.3.4 Execute a Broker-Client Agreement in the form prescribed by SEBI and/or the relevant authority of NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House from time to time, because this may be useful as a proof of your dealing arrangements with the Member.

1.3.5 Give any order for buy or sell of a security in writing or in such form or manner, as may be mutually agreed. Giving instructions in writing ensures that you have proof of your intent, in case of disputes with the Member.

1.3.6 Ensure that a contract note is issued to you by the Member which contains minute records of every transaction. Verify that the contract note contains details of Order No. , Trade No., Trade Time, Trade Price, Trade Quantity, Name of Security, Client Code allotted to you and showing the Brokerage separa-tely. Contract Notes are required to be given/sent by the Member to the Investors latest on the next working day of the trade. Contract Note can be issued by the Member either in Electronic Form using working day or at a mutually agreed time, please get in touch with the Investors Griev-ance Cell of NSE/BSE/MCX-SX, without delay.

1.3.7 Facility of Trade Verification is available on NSE/BSE/MCX-SX Website (www.nseindia.com/ www.bseindia.com/www.mcx-sx.com), where details of trade as mentioned in the Contract Note

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may be verified from the trade date upto five trading days. Where trade details on the website, do not tally with the details mentioned in the Contract Note, immediately get in touch with the Investors Grievance Cell of NSE/BSE/MCX-SX.

1.3.8 Ensure that payment/delivery of securities against settlement is given to the concerned Member within one working day prior to the date of pay-in announced by NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House. Payments should be made only by Account Payee Cheque in favour of the Firm/Company of the Trading Member and a receipt or acknowledgment towards what such pay-ment is made be obtained from the Member. Delivery of securities is made to the Pool Account of the Member rather than to the beneficiary account of the Member.

1.3.9 In case of pay-out of money and/or securities is not received on the next working day after date of pay-out announced by NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House, please follow-up with the concerned Member for its release. In case pay-out is not released as above from the Mem-ber within five working days, ensure that you lodge a complaint immediately with the Investors Grievance Cell of NSE/BSE/MCX-SX.

1.3.10 Every Member is required to send a complete ‘Statement of Accounts’, for both funds and securities settlement to each of its constituents , at such periodicity a may be prescribed from time to time. You should report errors, if any, in the Statement immeidately , but, not later than 7 Calendar Days (as per the Circular being NSE/INSP/2010/99 dated February 03, 2010) of receipt thereof, to the Mem-ber. In case the error is not rectified or there is a dispute, ensure that you refer such matter to the Investors Grievance Cell of NSE/BSE/MCX-SX, without delaying.

1.3.11 In case of a complaint against a Member/Registered Sub-Broker, you should address the complaint to the Office as may be specified by NSE/BSE/MCX-SXfrom time to time.

1.4 In case where a Member surrenders his Membership, NSE/BSE/MCX-SX gives a public notice inviting claims, if any, from Investors. In case of a claim, relating to “transactions executed on the trading system” of NSE/BSE/MCX-SX, ensure that you lodge a claim with NSE/BSE/MCX-SX /Clearing House within the stipulated pe-riod and with the supporting documents.

1.5 In case where a Member is expelled from Trading Membership or declared a defaulter, NSE/BSE/MCX-SX gives a public notice inviting claims, if any, from investors. In case of a claim, relating to “transactions exe-cuted on the trading system” of NSE/BSE/MCX-SX, ensure that you lodge a claim with NSE/BSE/MCX-SX within the stipulated period and with the supporting documents.

1.6 Claims against a defaulter/expelled Member found to be valid as prescribed in the relevant Rules/Bye-laws and the scheme under the Investors’ Protection Fund (IPF) may be payable first out of the amount vested in the Company for Settlement of Claims against defaulters, on pro-rata basis if the amount is inadequate. The balance amount of claims, if any, to a maximum of Rs. 10 lakhs per investor claim, per defaulter/expelled Member may be payable subject to such claims being found payable under the Scheme of IPF.

NOTES 1. The term ‘Constituent’ shall mean and include a Client, a Customer or an Investor, who deals with a Trading

Member of NSE/BSE/MCX-SX for the purpose of acquiring and/or selling of securities through the mechanism provided by NSE/BSE/MCX-SX.

2. The term ‘Member’ shall mean and include a Member or a Broker or a Stock Broker, who has been admitted as such by NSE/BSE/MCX-SX and who holds a Registration Certificate as a Stock Broker from SEBI.

3. NSE/BSE/MCX-SX may be substituted with names of the relevant Exchanges, where applicable.

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[Refer Paragraph 8 of SEBI Circular No. MIRSD/SE/CIR-19/2009 dated December 03, 2009]

[A] REFUSAL OF ORDERS, PENNY STOCKS ETC. The Trading Member may at his discretion refuse to execute any buy or sell on behalf of the Client including,

but, not restricted to dealings in penny stocks, illiquid stocks, infrequently traded stocks/contract etc., if the Trading Member is of the view that such execution would adversely affect market integrity or give rise to regulatory/disciplinary actions/concerns. The penny stock would mean any stock trading at a price less than Rs. 10/- or at a price less than the face value or any other stock specified by the Regulatory Body/Stock Ex-change as such or which are appearing in the list of illiquid securities issued by the Exchanges every month. In general terms, is a low priced, speculative security or a very small Company, regardless of market capitaliza-tion.

[B] SETTING UP CLIENT’S EXPOSURE LIMITED The Trading Member may at his/its discretion permit/allow such exposure limit for trading by Client as it

deems fit. Such exposure limit may operate specific to a security or contract and/or on an aggregate basis whether on the buy or the sell side, based on the Trading Member’s assessment of the associated risks having due regard to all relevant factors. Further, the Stock Broker may modify, change or alter such limit or the con-ditions attached thereto from time to time as may be deemed fit.

[C] BROKERAGE RATES The Brokerage rates to be charged for trades executed by the Client shall mutually be decide between the

Trading Member and the Client from time to time however, the same shall not exceed the following :

(a) For Cash Market Segment/Futures : 2.5% of the contract price exclusive of statutory levies, however, where the sale/purchase value of a

share is Rs. 10/- or less, a maximum brokerage of 25 paise per share may be collected.

(b) For Option Contracts : 2.5% of the premium amount or Rs. 100/-, whichever is higher.

[D] IMPOSITION OF PENALTY/DELAYED PAYMENT CHARGES The Client shall pay the Trading Member brokerage, commission, fees, account opening/maintenance charges, charges for availing research reports, charges for availing special facility for mobile broking/SMS fa-cility or any other charges, penalties levied by the Exchanges for Client limit violation, charges for dishonor of Cheque(s) given by the Client, statutory levies, service tax and other taxes and trade/transaction expenses including inter alia depository charges, settlement charges etc., as are applicable from time to time. If the Client fails to make payment of the amount due within the time frame specified by the Bye-laws, Rules and Regulations of the Exchange(s) and/or as per the policy of the Trading Member, the Trading Member shall be entitled to levy such charges by way of penalty or delayed payment charges not exceeding 22% per annum on amount due as the Trading Member may deem fit and to directly debit the same to the Client Account. The Client authorizes the Trading Member to set off a part or whole of the collateral/ledger balances i.e. by way of appropriation of the relevant amount of cash or by way of sales or transfer of all or some of the secu-rities, without notice, or invoke the pledged shares placed as margin/collateral with the Stock Broker and/or any credit in any account of the Client in any of the segment of the Stock Exchange, against the outstanding/dues, to the extent of settlement/margin obligation, in the account of the Client for any segment of the Stock Exchanges. The adjustment, so done, shall be by way of passing necessary journal entries. Further, the Trad-ing Member agrees to pay penalty charges not exceeding 18% per annum on amount due to the Client if the same is not refunded to the Client in time after receipt of pay-out request from the Client.

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POLICIES AND PROCEDURES

[E] THE RIGHT TO SELL CLIENT’S SECURITIES OR TO CLOSE CLIENT’S POSITIONS WITHOUT NOTICE TO CLIENT If a Client fails to make payment of consideration to the Trading Member in respect of any one or more secu-rities purchased by him before the pay-in date notified by the Exchange from time to time, the Trading Mem-ber shall be at liberty to sell/liquidate the securities received in pay-out, as per the policy of the Trading Member, after taking into account any amount lying to the credit of the Client. The loss, if any on account of liquidation shall be to the account of the Client. Without prejudice to the Trading Member’s other rights the Trading Member shall be entitled to liquidate/close out all or any of the Client’s positions, without giving no-tice to the Client, for non-payment of margins or other amounts outstanding debts etc. Any and all losses and financial charges on account of such liquidation/closing out shall be charged to and borne by the Client.

[F] SHORTAGES IN OBLIGATIONS ARISING OUT OF INTERNAL NETTING OF TRADES If the Client fails to deliver any one or more securities to the pool account of the Trading Member in respect

of the securities sold by him which turns out to be an internal position, before the pay-in date notified by the Exchange from time to time, such undischarged obligation in relation to delivering, any one or more securi-ties shall be purchased on his behalf by the Trading Member. However, in case for any reason, whatsoever, the Trading Member is unable to buy such quantity the outstanding obligation of the Client shall be subject to close out procedures as defined by the Exchange from time to time. The loss, if any, on account of the close out shall be to the account of the Client.

[G] CONDITIONS UNDER WHICH CLIENT MAY NOT BE ALLOWED TO TAKE FURTHER POSITION OR THE STOCK BROKER MAY CLOSE THE EXISTING POSITION OF THE CLIENT.

The Trading Member may at any time at his/its discretion disallow the Client from creating further/fresh posi-tion in any Segment on any Exchange or close out any existing position of the Client based on the risk assess-ment or if so directed by any Government/Regulatory Stock Exchange Authority.

[H] TEMPORARY SUSPENSION / CLOSURE OF A CLIENT’S ACCOUNT The Trading Member shall if so required in writing by the Client temporarily suspend/disable trading in the

Client’s account unless so required for the purpose of closing of transactions referred to (E) and (G) above and maintain such suspension/disablement till such time the Client makes a specific request in that regard.

[I] DEREGISTRATION OF A CLIENT The Trading Member may at any time, as it considers necessary in its sole discretion and shall be entitled, at

his/its absolute discretion not to, allow the Client to trade, unless such Client provides margins to the extent as may be specified by the Stock Broker considering the risk factor.

The Trading Member shall be entitled to suspend or terminate this agreement without prior notice if :

1. The Client has breached this Agreement;

2. Upon the death, winding up, bankruptcy, liquidation or legal capaciation of the Client or is designated as a defaulter by any credit rating agency or any action or proceedings have been initiated by the relevant Regulator/Authority including without limitation SEBI;

3. The Client fails to maintain the Bank Account and/or the Securities Account (or any replacement thereof);

4. The Client has misrepresented facts at the time of entering into this Agreement or at the time of giving instructions or otherwise;

5. Any proceedings or investigations that involve the Client or his/her/its properties have been initiated or is ongoing;

6. The Client fails to fulfill his/her/its payment obligations under this Agreement or otherwise due to the Trading Member;

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7. The Client has violated the Applicable Law particularly the Securities Law and Bye-laws, Rules and Regula-tions of the respective Stock Exchanges on which the Client trades;

8. If the Client migrates to a jurisdiction which prohibits trading in Indian Securities or otherwise, subjects the Trading Member or any of its employees to any licensing or registration requirements.

Upon termination of this Agreement, all other Agreements, Annexures and Writings supplementary to this Agree-ment entered into and between the parties shall stand terminated.

The parties to this Agreement shall be entitled to terminate this Agreement or any part thereof without giving any reasons to the other party, after giving notice in writing of not less than one month to the other party. Notwith-standing, 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/her/its respective heirs, executors, administrators, legal representative or succes-sors, as the case may be.

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Name of the Client : _________________________________________________________________________

If Business/Profession : Nature of Business : ______________________________________________________

Industry : ______________________________________________________

Details of my/our Relatives, having Account with M/s. VCK SHARE & STOCK BROKING SERVICES LIMITED

Details of the Corporate/Partnership Firms/Trust etc., where I/we am/are affiliated

I/We hereby submit and agree to submit every year following documents to VCKSSB before the due date as pre-scribed by VCKSSB 1. Profit and Loss Account & Capital Account 2. Balance Sheet 3. Self Attested Copy of Income Tax Return (if return not available, I/we will furnish Form 16) 4. Networth Certificate 5. Shareholding Pattern

I/We confirm that I/we will immediately inform VCKSSB in case I/we am/are convicted under any grounds or any action is taken against me/us by any authority(ies)

I/We intend to invest in the Stock Market with : [ ] Own Funds [ ] Borrowed Funds (If Borrowed Funds, then please specify below Sources of Funds;)

Certificated/Opinion Report from the Banker/Financial Institution confirming that there has been no default in the Client’s Account is to be attached, which I/we agree to attach herewith)

I/We hereby declare that I/we am/are beneficial owner of the Trading/Online Account opened with VCKSSB, and that I/we am/are investing my/our own funds with VCKSSB

____________ SIGNATURE OF THE CLIENT Client Name

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INFORMATION PROVIDED BY THE CLIENT IN RELATION TO THE PREVENTION OF MONEY LAUNDERING ACT, 2002

Name Relationship UCC (Client Code)

1.

2.

3.

Name Entity Type Nature of Business Relationship UCC (Client Code

1.

2.

3.

Sources of Borrowed Funds (if any) Amount (`)

RISK CATEGORY : HIGH MEDIUM LOW

for branches, products and services, visit us at

website : http://www.vckgroup.com

For more information

Call : (033) 4009-9999Customer Care : (033) 4009-9919

Email : [email protected];

VCK SHARE & STOCK BROKING SERVICES LIMITED DP ID - 12053200

SEBI Registration Nos. NSE Cash - INB 230469139; NSE F&O - INF 230469139;

BSE Cash - INB 010469139 MCX-SX - INE260469139

Please send this Account Opening Form to : ACCOUNT OPENING SECTION - VCK SHARE & STOCK BROKING SERVICES LIMITED

“Duckback House”, 41, Shakespeare Sarani, Kolkata - 700017; Phone : (033) 4009-9999; Fax : (033) 2287-8479 E-mail : [email protected]; Website : www.vckgroup.com

KOLKATA Room # 19, 1st Floor 16, India Exchange Place Kolkata - 700001 Ph : (033) 2231-1038/39

MUMBAI 401, Malhotra Chambers 4th Floor, 31/32, Police Court Lane Mumbai - 400001

JAMSHEDPUR Holding # D, Chand Villa Contractor Area [Imperial Bank Area] Jamshedpur - 831001 Ph : (0657) 222-4395

BHUBANESHWAR Room # 23, 2nd Floor, Janpath Tower, Janpath Ashoknagar Bhubaneshwar - 751009 Ph : (0674) 657-4413

GUWAHATI 3D, Peace Enclave, 3rd Floor, 724, Ulubari, G. S. Road, Guwahati - 781007

PATNA Room # 406, 4th Floor, Kaushalya Estate Dak Bungalow More Patna - 800001 Ph : (0612) 220-0118

CLIENT REGISTRATION KIT - STYLE DEFINITIONS Basic Font Style used inside the Client Registration Kit is Calibri.ttf - Size : 11 point

and many other fonts used in the KIT for Cover Page, Cover Inside, Index, Inside Heading and Others

VCK SHARE & STOCK BROKING SERVICES LIMITED · every year as a part of Annual Review) 5. ... Copy of...

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