Terms & Conditions

• Although Torus Financial Markets tries to ensure that all information and materials, whether in relation to the products, services, facilities, offerings or otherwise (hereinafter “Information”) provided as part of this website is correct at the time of inclusion on the web site, it does not guarantee the accuracy of the Information. TFMPL makes no representations or warranties as to the completeness or adequacy or accuracy of Information and expressly disclaims liability for any errors or omissions or delays in updating this information.
• Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. No Information at this web site shall constitute an invitation to invest in any security or financial product. Any use of this website or the Information is at your own risk.
• TFMPL along with its directors, employees, associates or other representatives and its Affiliates along with its directors, employees, associates or other representatives shall not be liable for damages or injury arising out of or in connection with the use of the Website or its non-use including non-availability, compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property (including without limitation loss of profits, loss or corruption of data, loss of goodwill, work stoppage, computer failure or malfunction, or interruption of business; under any contract, negligence, strict liability or other theory arising out of or relating in any way to the Website, site-related services, or any products or services and claims of third parties damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information, whether resulting, in whole or in part, from or relating to any of the services offered or displayed by TFMPL on the Website.
• Nothing contained herein is to be construed as a recommendation to use any product or process, in conflict with any patent, or otherwise and TFMPL makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise.
• The Services on the Website do not constitute an offer to sell or a solicitation to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. These Service are not intended to be any form of an investment advertisement, advice or information and has not been registered under any securities law of any foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be lawful to provide such information, otherwise the same shall not be considered an information. The distribution of this Service or content in other jurisdictions may be restricted by law and the persons who access the Service should inform themselves about, and observe, any such restrictions.
• Use of the website and its contents is at any persons, including a customer’s, own risk. The data and information provided on the website is not advice, professional or otherwise, and should not be relied upon as such. Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by TFMPL to buy or sell any securities or other financial instruments or provide any investment advice. TFMPL or their employees have or may have an outstanding position or holding in the securities or other related investments of issuers and companies mentioned herein. The investments discussed or recommended in the analysis, research reports, etc. may not be suitable for all investors. Investors must make their own investment decisions based on their own specific investment objectives and financial position and using such independent professional advisors as they believe necessary. Information herein is believed to be reliable but TFMPL does not warrant its completeness or accuracy. The content of the articles and the interpretation of data are solely the personal views of the contributors and do not in any way reflect the views of TFMPL. Users are advised to use the articles and other data in the Website only as information.
• THIS WEBSITE/INFORMATION IS PROVIDED TO YOU ON AN “AS IS” AND “WHERE-IS” BASIS, WITHOUT ANY WARRANTY. TFMPL, FOR ITSELF AND ANY THIRD-PARTY PROVIDING MATERIALS, SERVICES, OR CONTENT TO THIS WEBSITE, MAKES NO REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THIRD-PARTY RIGHTS, WITH RESPECT TO THE WEBSITE, THE INFORMATION OR ANY PRODUCTS OR SERVICES TO WHICH THE INFORMATION REFERS. TFMPL WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO, DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, ARISING FROM OR CONNECTED WITH THE SITE, INCLUDING BUT NOT LIMITED TO, YOUR USE OF THIS SITE OR YOUR INABILITY TO USE THE SITE, EVEN IF TFMPL HAS PREVIOUSLY BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

All terms and conditions herein apply to you as a user (hereinafter Client) of the Margin Trading Facility (MTF) offered by us, TORUS FINANCIAL MARKET (hereinafter referred to as TFM).

Anything not specifically covered in these Terms and Conditions shall be governed by the TFM Account Opening documents signed by the Client.

Introduction: Margin Trading Facility (MTF) is a service that helps the Client purchase more shares than with the available cash in the Client’s account. The Client, can avail up to 4x of funds from TFM as MTF, to purchase any eligible stocks.

Eligible stocks: The Client understands that MTF would be extended only for the stocks as determined by TFM from time to time.

Limit: No Client would be funded beyond Rs.10,00,000 for one stock, and Rs.34,50,000 in total. At our sole discretion, we may extend this limit up to exchange prescribed limits. The minimum margin requirement to avail MTF would be up to VAR + 3 / 5 times the Extreme Loss Margin (ELM). Such margin would only be in cash, cash equivalent or Group I equity shares with the appropriate haircut.

The Margin Trading Facility would be available in accordance to the additional terms and conditions laid down below:


• Minimum margin requirement would be higher than the requirement as defined by Exchanges which we shall be collecting from client towards MTF. , it would be as defined by TFM RMS policy.
• Max 4 times limit will be provided on base Margin - Expo – If client had ₹ 100,000 margin then he can avail exposure of ₹ 4, 00,000.
• Such margin would be in the form of cash and/or non-cash collateral (Group 1 stock) as per RMS Policy.
• The client understands that Margin Trading Facility would be extended only for the Stocks as determined by TFM RMS policy from time to time.
• No client would be funded beyond Rs.50,00,000/- (Fifty Lakhs Only) which shall be subject to RMS policy. Exposure to single stock should not be go beyond Rs.10,00,000.
• In case of Margin Shortfall, the shares will be squared-off after giving margin call. It may however, be noted that the initial/ maintenance margins shall never be lower than that prescribed by Stock Exchange/ SEBI/ Broker.
• If a stock is no longer in the MTF approved exchange list, any funded position must be closed.
• Client will have to make payment in full for stocks that have been removed from Exchange MTF approved list. TFM reserves the right to liquidate and close client positions if the above requirement is not fulfilled. For Exchange Approved MTF stock- FM refer both exchange approved stocks list (Group 1 stocks).
Charges:
1. Interest charges for using Margin Trading Facility: 0.05% per day of the funded amount. The charges would be applicable from T+1 day, until the day of the debit/positions are cleared.
2. Brokerage: 2.5% or Rs.11, whichever is lower.
3. Pledge charges: Rs.21 per ISIN per pledge, and no charges for non-pledging.
4. Square-off charges of Rs.50 + GST shall be levied for every position squared off by TFM.
5. The Client shall be solely liable to pay all expenses and charges, including, without limitation, stamp duty, other government charges, and statutory charges, if applicable, in relation to MTF.

MTF Pledge process
As per SEBI regulation the all positions taken in Margin Trading Funding facility (MTF) are required to be compulsorily held by way of MTF Pledge. In compliance of the regulations, when a client buys shares under Margin Trading Facility, he must pledge those shares to continue holding the position. This process must be completed by 9:00 pm on the same day. In case the client fails to do so, his shares will be squared-off on T+5 day as per Ageing Policy.
1. Miscellaneous
TFM reserves the right to not provide the Margin Trading Facility to any Client, with or without assigning any reason whatsoever.
TFM reserves the right to withdraw the Margin Trading Facility at any time, without prior notice to any Client.
On withdrawal of the facility, the Client would be required to settle their positions and clear out any pending dues.
The Client understands that the service provided hereunder is using online infrastructure. In case of any technical failure, subject to applicable regulations, TFM shall not be responsible for any loss suffered by the Client.

Ageing based square-off:
It is the customer's obligation to clear ledger debit balances in T+1 day (i.e. on settlement day) where in T is the transaction/trading day. If there is a failure on part of the customer to clear the ledger debit then TFM reserves the right to liquidate the stock upon ageing of the ledger debit beyond T+4 days The stock will be sold from customers' accounts on T+5 days after the ledger debit. For e.g.: trades executed on Monday will be squared off on next Monday (T+5) where T indicates Trading day

1. Client Obligation

1. Client shall, in writing in his own hand or in any irrefutable electronic method, agree to avail of Margin Trading Facility in accordance with the terms and conditions of Margin Trading Facility offered by the broker, method of communication for confirmation of orders/trades, margin calls and calls for liquidation of collateral/security/position.
2. Client shall inform the broker of its intent to shift the identified transaction under Margin Trading Facility within the time lines specified by the broker failing which the transaction will be treated under the normal trading facility.
3. Client shall place the margin amounts as the Stock Broker may specify to the client from time to time.
4. On receipt of ‘margin call’, the client shall make good such deficiency in the amount of margin placed with the Stock Broker within such time as the Stock Broker may specify.
5. By agreeing to avail Margin Trading Facility with the broker, client is deemed to have authorized the broker to retain and/or pledge the securities provided as collateral or purchased under the Margin Trading Facility till the amount due in respect of the said transaction including the dues to the broker is paid in full by the client.
6. Client shall lodge protest or disagreement with any transaction done under the margin trading facility within 30 days of the transaction, as mutually agreed between the client and broker.

2. Stock Broker Rights

1. Stock Broker and Client may agree between themselves the terms and condition including commercial terms if any before commencement of MTF.
2. Stock broker may set up its own risk management policy that will be applicable to the transactions done under the Margin Trading Facility. Stock broker may make amendments there to at any time but give effect to such policy after the amendments are duly communicated to the clients registered under the Margin Trading Facility.
3. The broker has a right to retain and/or pledge the securities provided as collateral or the securities bought by the client under the Margin Trading Facility.
4. The broker may liquidate the securities if the client fails to meet the margin call made by the broker as mutually agreed of liquidation terms but not exceeding 5 working days from the day of margin call.
5. The client agrees that TFM may at its discretion, in accordance with its risk management policy, disable certain securities and square off all open positions in such scrip which are not converted to delivery irrespective of margin availability on account of corporate action such as stock split, issue of bonus shares, merger, spin off, Buy Back and the like. TFM will duly intimate the Client accordingly and Client agrees that TFM cannot be held liable for any losses arising out of such disablement or squaring off of security.

3. Stock Broker Obligation

1. Stock broker shall agree with the client the terms and condition before extending Margin Trading Facility to such client. However, for clients who already have existing trading relationship and want to avail of Margin Trading Facility, stock broker may take consent in writing in his own hand or in any irrefutable electronic method after stock broker has communicated the terms and conditions of Margin Trading Facility to such existing clients.
2. The terms and conditions of Margin Trading Facility shall be identified separately, in a distinct section if given as a part of account opening agreement.
3. The mode of communication of order confirmation, margin calls or liquidation of position/security shall be as agreed between the broker and the client and shall be in writing in his own hand or in any irrefutable electronic method. Stock broker shall prescribe and communicate its margin policies on haircuts/ VAR margins subject to minimum requirements specified by SEBI and exchanges from time to time.
4. The Stock Broker shall monitor and review on a continuous basis the client’s positions with regard to MTF. It is desirable that appropriate alert mechanism is set up through which clients are alerted on possible breach of margin requirements.
5. Any transaction to be considered for exposure to MTF shall be determined as per the policy of the broker provided that such determination shall happen not later than T+1 day.
6. If the transaction is entered under margin trading account, there will not be any further confirmation that it is margin trading transaction other than contract note.
7. In case the determination happens after the issuance of contract, the broker shall issue appropriate records to communicate to Client the change in status of transaction from Normal to Margin trading and should include information like the original contract number and the margin statement and the changed data.
8. The Stock Broker shall make a ‘margin call’ requiring the client to place such margin; any such call shall clearly indicate the additional/deficient margin to be made good.
9. Time period for liquidation of position/security shall be in accordance declared policy of the broker as applicable to all MTF clients consistently. However, the same should not be later than 5 working (trading) days from the day of ‘margin call’. If securities are liquidated, the contract note issued for such margin call related transactions shall carry an asterisk or identifier that the transaction has arisen out of margin call.
10. The daily margin statements sent by broker to the client shall identify the margin/collateral for Margin Trading separately.
11. Margin Trading Accounts where there was no transactions for 90 days shall be settled immediately.
12. The stocks deposited as collateral with the stock broker for availing margin trading facility (Collaterals) and the stocks purchased under the margin trading facility (Funded stocks) shall be identifiable separately and there shall not be any comingling for the purpose of computing funding amount;
13. Stock Broker shall close/terminate the account of the client forthwith upon receipt of such request from the client subject to the condition that the client has paid dues under Margin Trading Facility.

4. Termination of Relationship

1. The margin trading arrangement between the stock broker and the client shall be terminated; if the Stock Exchange, for any reason, withdraws the margin trading facility provided to the Stock Broker or the Stock Broker surrenders the facility or the Stock Broker ceases to be a member of the stock exchange.
2. The MTF facility may be withdrawn by the broker, in the event of client committing any breach of any terms or conditions therein or at any time after due intimation to client allowing such time to liquidate the MTF position as per the agreed liquidation terms without assigning any reason. Similarly, client may opt to terminate the margin trading facility in the event of broker committing any breach of any terms or conditions therein or for any other reason.
3. In the event of termination of this arrangement, the client shall forthwith settle the dues of the Stock Broker. The Stock Broker shall be entitled to immediately adjust the Margin Amount against the dues of the client, and the client hereby authorises the Stock Broker to make such adjustment.
4. After such adjustment, if any further amount is due from the client to the Stock Broker, the client shall settle the same forthwith. Upon full settlement of all the dues of the client to the Stock Broker, the Stock Broker shall release the balance amount to the client.
5. If the client opts to terminate the margin trading facility, broker shall forthwith return to the client all the collaterals provided and funded securities retained on payment of all the dues by clients.

• TFMPL controls and operates this web site from India and makes no representation that the materials are appropriate or will be available for use in other locations. If you use this web site from outside the India, you are entirely responsible for compliance with all applicable local laws.
• Information that TFMPL publishes on the World Wide Web may contain references or cross references to TFMPL products, programs and services that are not announced or available in your country. Such references do not imply that TFMPL intends to announce such products, programs or services in your country. Consult TFMPL directly for information regarding the products, programs and services that may be available to you.

• In your use of the web site, you may enter into correspondence with, offering services from, or participate in promotions of advertisers or members or sponsors of the web site. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for services, and any other term, condition, warranty or representation associated with such correspondence, or promotion, is solely between you and the applicable third party. You agree that TFMPL has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any such third party.
• This website may be linked to other websites on the World Wide Web that are not under the control of or maintained by TFMPL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, services and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any services and/or products available through any of these websites are suitable for your purposes. TFMPL is not responsible for the owners or operators of these websites or for any goods or services they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

• This web site contains material, including text, graphics and sound, which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in this material are either owned by TFMPL or have been licensed to TFMPL by the owner(s) of those rights so that it can use this material as part of this web site. TFMPL retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this web site are owned by TFMPL and used under license by TFMPL affiliates.

• Use and display the materials only on your personal computer only for personal use. TFMPL grants you a limited, personal, non-exclusive and non-transferable license only for such use.
• Print copies of the information on this site for your personal use and store the files on your computer for personal use.

• Copy (whether by printing off onto paper, storing on disk, downloading or in any other way), distribute (including distributing copies), download, display, perform, reproduce, distribute, modify, edit, alter, enhance, broadcast or tamper with in any way or otherwise use any material contained in the web site except as set out under “You may”. These restrictions apply in relation to all or part of the material on the web site.
• Copy and distribute this information on any other server, or modify or re-use text or graphics on this system or another system. No reproduction of any part of the web site may be sold or distributed for commercial gain nor shall it be modified or incorporated in any other work, publication or web site, whether in hard copy or electronic format, including postings to any other web site.
• Remove any copyright, trade mark or other intellectual property notices contained in the original material from any material copied or printed off from the web site.
• Link to this web site.
• Without our express written consent.

• The ‘TFMPL’, logos denoted with’ or ® are trademarks or registered trademarks of TFMPL or its affiliates. TFMPL trademarks may not be used in connection with any product or service that is not a TFMPL product or service.

Most Important Terms and Conditions (MITC) (For non-custodial settled trading accounts)

1. Your trading account has a “Unique Client Code” (UCC), different from your demat account number. Do not allow anyone (including your own stock broker, their representatives and dealers) to trade in your trading account on their own without taking specific instruction from you for your trades. Do not share your internet/ mobile trading login credentials with anyone else.

2. You are required to place collaterals as margins with the stock broker before you trade. The collateral can either be in the form of funds transfer into specified stock broker bank accounts or margin pledge of securities from your demat account. The bank accounts are listed on the stock broker website. Please do not transfer funds into any other account. The stock broker is not permitted to accept any cash from you.

3. The stockbroker’s Risk Management Policy provides details about how the trading limits will be given to you, and the tariff sheet provides the charges that the stock broker will levy on you.

4. All securities purchased by you will be transferred to your demat account within one working day of the pay out. In case of securities purchased but not fully paid by you, the transfer of the same may be subject to limited period pledge i.e. seven trading days after the pay-out (CUSPA pledge) created in favour of the stock broker. You can view your demat account balances directly at the website of the Depositories after creating a login.

5. The stock broker is obligated to deposit all funds received from you with any of the Clearing Corporations duly allocated in your name. The stock broker is further mandated to return excess funds as per applicable norms to you at the time of quarterly/ monthly settlement. You can view the amounts allocated to you directly at the website of the Clearing Corporation(s).

6. You will get a contract note from the stock broker within 24 hours of the trade.

7. You may give a one-time Demat Debit and Pledge Instruction (DDPI) authority to your stock broker for limited access to your demat account, including transferring securities, which are sold in your account for pay-in.

9. In case of disputes with the stock broker, you can raise a grievance on the dedicated investor grievance ID of the stock broker. You can also approach the stock exchanges and/or SEBI directly.

10. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. You will not have any protection/recourse from SEBI/stock exchanges for participation in such schemes.

• TFMPL does not routinely monitor your postings to the web site but reserves the right to do so. However, in our efforts to promote good citizenship within the Internet community, if TFMPL becomes aware of inappropriate use of the web site or any of its Services, TFMPL will respond in any way that, in its sole discretion, TFMPL deems appropriate. You acknowledge that TFMPL will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, TFMPL will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the Internet.
• Submissions and unauthorized use of any materials contained on this web site may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold TFMPL and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys’ fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the web site or the use of the web site by any person using your user name and/or password (including without limitation your participation in the posting areas or your Submissions) violates any applicable law or regulation, or the rights of any third party. TFMPL reserves the right to terminate access to this web site at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms. Upon termination, you must immediately destroy any downloaded and printed materials.
• TFMPL may at any time revise the Terms by updating the then-current version thereof posted on this web site. By using this web site, you agree to be bound by any such revisions and should therefore periodically visit this page of this web site to determine the most current version of the Terms to which you are bound. Certain provisions of the Terms may be superseded by expressly designated legal notices or terms located on particular pages at this web site.
• TFMPL may change the format and content of this web site at any time. TFMPL may suspend the operation of this web site for support or maintenance work, in order to update the content or for any other reason.
• Upon responding to our advertisements, you may receive offers from Torus Financial Markets and Torus Group companies.
• Personal details provided to TFMPL through this web site will only be used in accordance with our privacy policy. Please read this carefully before going on. By providing your personal details to us you are consenting to its use in accordance with our privacy policy.
• If you have a question or complaint, please contact us at corporate office. TFMPL reserves all other rights.
• Investment in securities market are subject to market risks, read all the related documents carefully before investing.
• Smart Plans
• Know more about smart plans
• T+1 day account opening challenge
• Only for KRA Verified user
• Account will be opened after all procedures relating to IPV and client due diligence are completed.

• Restrict or inhibit any other user from using or enjoying this web site, including without limitation by means of “hacking” or defacing any portion of this web site.
• Transmit any information or software that contains a virus, worm, time bomb, Trojan horse or other harmful or disruptive component.
• Reproduce, duplicate, copy, sell, resell or exploit for any commercial or unlawful purposes, the Materials or any portion thereof, your right to use this web site, or your right to access any services offered or made available on or through this web site.
• Remove any copyright, trademark, or other proprietary rights notices contained in this web site or on any material downloaded from the web site.
• Submit particulars that you do not have the right or authority to submit under any law or any contractual or fiduciary relationship (such as trade secrets and confidential information).
• Post or transmit to or from this web site any unlawful, threatening, libellous, defamatory, obscene, pornographic, offensive or other similar material.
• Use the web site to conduct, or solicit the performance of, any unlawful activity or other activity which infringes the rights of others.
• Interfere with or disrupt the web site or any services provided thereon or thereby, or any servers or networks connected to the web site, or disobey any requirements, procedures, policies or regulations of networks connected to the web site.
• Frame or mirror any part of the web site without TFMPL's prior written authorization.
• Use any robot, spider, site search/retrieval application, or other manual or automatic device or process to retrieve, index, “data mine,” or in any way reproduce or circumvent the navigational structure or presentation of the web site or the Materials provided on this web site.
• Violate any law, regulation or contract.
• You will not impersonate any person or entity, misrepresent your affiliation with a person or entity, or misrepresent the origin of any content posted on or distributed through the Site.

• You agree to indemnify, defend and hold TFMPL, its and their Affiliates and any of its and their directors, employees, advisors, suppliers, advertisers, agents or sponsors harmless from and against any and all claims, damages, losses, costs (including without limitation reasonable attorneys’ fees) or other expenses that arise directly or indirectly out of or from (i) your breach of these Terms and Conditions; (ii) your violation of the undertaking, representation and covenants mentioned above; and/or (iii) your activities in connection with this web site. The maximum liability of TFMPL and its Affiliates to the Customer shall be subject to the amount of fees paid by the Customer for the services that he/she may have availed of through the Website or in pursuance of the Offer or the Service.

• In the event any provision of these terms and conditions is determined by a court of competent jurisdiction to be invalid, illegal or otherwise unenforceable such provision shall be deemed to have been deleted from these terms and conditions, while the remaining provisions shall remain in full force and effect. TFMPL ‘s failure to insist upon or enforce strict performance of any provision of these terms and conditions shall not be construed as a waiver of any provision or right. Neither shall the course of conduct between the parties nor trade practice shall act to modify any provision of these terms and conditions. This disclaimer clause shall be applicable to any person visiting/accessing the Website and/or a Customer entering into an agreement related to availing of the Service offered by TFMPL and its Affiliates. The terms & conditions governing individual products will be displayed at the relevant product specific pages in the website. If the client trades in/uses any of the products he will be deemed to have accepted the terms of the respective products as well as these terms.
• Torus Financial Markets Private Limited reserves the right to offer free brokerage for a limited period. The availability and terms of this offer may vary based on time, user profile, and other criteria.

• These terms and conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these terms and conditions or any dispute arising in relation to the web site whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes. The offering of the Service is subject to the requisite permissions, approvals, licenses and any other clearance from the appropriate regulatory authority viz., Securities and Exchange Board of India, National Stock Exchange of India Limited, Bombay Stock Exchange Limited, Mumbai and any other relevant authority that may be the regulatory authority of the Service.


• SMS service, if any provided to shall be paid information short message service (SMS) for members and/or subscribers (“Subscribers”) registered with Torus Financial Markets and/or its Affiliates accessible through short number (“the Service”).


• Subscriber agrees to pay TFMPL all charges incurred by the Subscriber for availing the Service. In the event of Subscriber having an account with TFMPL, Subscriber agrees, consents, and permits TFMPL to recover any dues and charges for the Service availed by him from any balances or monies lying to his credit with TFMPL and/or its Affiliates. In all other cases, Subscriber agrees to pay TFMPL in the mode and manner as deemed fit by TFMPL and Subscriber shall do so without demur.


• The Service will endeavour to provide market related information, news etc as decided by TFMPL from time to time.


• The Service is for information purposes only. TFMPL makes no representations or warranties regarding the accuracy, completeness or reliability of any information it provides. TFMPL assumes no responsibility for errors or omissions in the Service. Users should conduct their own research before acting on any information received through the Service. TFMPL shall not be responsible or liable for any losses, costs, expenses, charges, including notional losses/lost opportunities incurred by a User as a result of acting or non-acting on any information/material received through the Service. All information that may be provided on this Service or part thereof shall be on an “as is” basis and as sourced from the various service providers of TFMPL.


• Service is subject to co-operation by mobile telephony operator of Subscriber of the Service. TFMPL shall not be held responsible or liable for any breakdown of operator network, non-availability of Service due to technical defects, or other operator related issues.


• All material provided as part of the Service shall be for personal use of the Subscriber and not for commercial use. No Subscriber shall distribute, disseminate or part with any material received from the Service to any person or entity whether in oral, electronic or digital form.


• It is expressly agreed by the Subscriber that exclusive jurisdiction for any dispute with TFMPL resides in the courts at Mumbai and the user expressly consents to the exercise of jurisdiction in the courts of Mumbai in connection any such dispute. These terms shall be governed by and construed in accordance with the laws of India.


• Any notice to TFMPL shall be by Registered Post Acknowledgement Due addressed to: Torus Financial Markets, C Wing, 1802, Lotus Corporate Park, Off Western Express Highway, Jai Coach, Goregaon (East), Mumbai – 400063.


• By subscribing to the Service, the Subscriber agrees to these terms.


• These terms are subject to change without prior notice.


• Mobile Telephony Operator charges shall apply.


• Service subject to operator services.


• Mutual fund investments are subject to market risks.


• Insurance is the subject matter of solicitation.


• Past performance may not be an indicator of future returns.


• All investments and investment related decisions are at the sole discretion of the Subscriber.


• The views and investment tips expressed by investment experts or analysts or persons claiming to be domain experts on the Service are their own, and not that of TFMPL or its management. TFMPL advises users to check with certified experts before taking any investment decision. TFMPL does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. TFMPL especially states that it has no financial liability whatsoever to any Subscriber on account of the use of information provided as part of the Service.


• Subscribers are advised to understand that the Services can fail due to failure of hardware, software, and Internet connections. While TFMPL will endeavour that the messages are delivered in time to the Subscribers mobile network, the delivery of these messages to the Subscriber’s mobile phone/handset is the responsibility of the Subscriber’s mobile network. SMS may be delayed and/or not delivered to the Subscriber’s mobile phone/handset, owing to technical reasons that can only be addressed by the Subscriber’s mobile network/service provider, and TFMPL and/or its employees, officers, and directors and/or its service providers cannot be held responsible for the same.


• Trading in stocks, stock derivatives, and the like is inherently risky and Subscriber agrees to assume complete and full responsibility for the outcomes of all trading decisions that Subscriber makes, including but not limited to loss of capital. None of the trading calls made on the Service by any person or entity should be construed as an offer to buy or sell securities, nor advice to do so. Subscriber should not construe any information to constitute investment advice. It is purely informational in nature.


• All Subscribers may use the information as a resource only to further their own research on all featured companies, stocks, sectors, markets and information received. Nothing published through the Service should be considered as investment advice.


• All investments and investment products are subject to governmental, regulatory and relevant Exchange rules, regulations and guidelines.


• Any contests featured as part of the Service shall be subject to their own rules, and regulations and Subscriber shall be bound by the same.


• The Service contains material, including text, graphics and sound, which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in this material are either owned by TFMPL or have been licensed to TFMPL by the owner(s) of those rights so that it can use this material as part of this service. TFMPL retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this service are owned by TFMPL and used under license by TFMPL affiliates.


• By accepting these terms and/or receiving the Service, User consents to receive advertising or promotional material in electronic form or otherwise whatsoever.


• TFMPL does not accept any responsibility or liability or guarantee the performance or merchantability of any product or services offered by any party pursuant to any advertisement or promotional material that may be received by the User as part of the Service and the same lies specifically with the advertiser.

• Please read these Terms of Use/Terms and Conditions carefully before using [www.torusmoney.com ] (the “website” or the “Site”), owned by the Torus Financial Markets (the “TFMPL” or “Company”). This agreement sets forth the legally binding terms and conditions for visitors, users or customers (collectively called “you” or “Users”) of the Site. In terms of the Indian Information Technology Act, 2000 (as amended from time to time), this document is an electronic record. By using the service/services in any manner, including, but not limited to, visiting or browsing the site or contributing content, information, or other materials or services to the Site, you have confirmed that you have read, understood and bound yourself by these Terms of Use. The acceptance of Terms of Use will be between you and TFMPL which is facilitating provision of the services, other than those which are otherwise specifically provided by each of the TFMPL Group Entities (as defined under our Privacy Policy) on their respective web pages / sites to you. All of the TFMPL Group Entities have their own separate legal identities and webpages (details about which are embedded in their respective web pages/sites) but in this website they may sometimes use “Group”, “we” or “us” when we refer to TFMPL Group Entities in general or where no useful purpose is served by identifying any particular TFMPL affiliate. These Terms of Use shall apply to the access and use of the website and all associated web pages/ sites which are linked with [www.torusmoney.com] You will be subject to the rules, guidelines, policies, terms, and conditions applicable to any facilities that are provided by this Site and all associated web pages/ sites and they shall be deemed to be incorporated into these Terms of Use and shall be considered as part and parcel of these Terms of Use. It is clarified that all references to one particular gender, in the context of the User, shall be deemed to include references to Users of the opposite gender as well as Users who are legal or non-natural entities. All capitalized terms shall have the meaning given to them under the Privacy Policy, unless specifically stated here in these Terms of Use.

Summary of services and or products

• TFMPL, the broking arm of Torus Group, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. TFMPL offers secure online trading platform & investment activities in a cost effective and convenient manner. To enable wider participation, it also provides the convenience of trading offline through variety of means including Call and Trade, Branch Dealing Desks and network of affiliates. Focus on timely & error-free execution represents its core strength. Our best-in-class research offerings, high degree of compliance with stock exchange regulations, ethical business standards

User Content submissions

Acceptance of Terms

• You accept the Terms of Use of TFMPL by:
  • surfing and viewing the Content of the Site;
  • creating an account on the Site;
  • signing up on the Site; and/or
    • making use of the feature of the Site or the Services available therein,
    • You further agree and acknowledge that:


• You are eligible to contract with us;
• You have read the Terms of Use; and
• You agree to be bound by the Terms of Use.
• The service and or products are offered subject to acceptance of all of the terms and conditions contained in these Terms of Use, including the Privacy Policy (that can be found on the Site) mentioned in this document and all other operating rules, policies, and procedures that may be published on the Site, which are incorporated by reference and may be updated by TFMPL without notice to you. In addition, some services and or products offered through the Site may be subject to additional terms and conditions adopted by the Company. Your use of those services is subject to those additional terms and conditions, which are incorporated into these Terms of Use by this reference.
• TFMPL may, in its sole discretion, refuse to offer the Site’s services to any person or entity and change its eligibility criteria at any time. This provision is void where prohibited by law and the right to access the Site’s services is revoked in those jurisdictions.
• It is clarified that clicking “I Agree” to “Terms of Use” or “Terms & Conditions”, shall be considered as your electronic acceptance of this Agreement under Information Technology Act 2000. Your continued usage of the facilities from time to time would also constitute acceptance of the Terms of Use including any further changes or update or modification thereof and you would be bound by this agreement until this agreement is terminated as per provisions defined herein.
• You also acknowledge and agree that, unless specifically provided otherwise, these Terms of Use only apply to this website and facilities provided on this website. All of the TFMPL Group Entities may have their own individual web pages/sites which are owned by the respective TFMPL Group Entities and the facilities offered by the respective TFMPL Group Entities will be governed in accordance with the terms and conditions posted of those web pages/websites which you would be bound while availing the facilities/services of the said respective TFMPL Group Entities through their respective web pages / sites or otherwise in any other mode as the case may be. TFMPL may reserve the right to modify the TFMPL Group Entities from time to time. Users are advised to review TFMPL Group Entities list regularly.

Modification of Terms of Use

• TFMPL reserves the right, at its sole discretion, to modify or replace these Terms of Use, or change, suspend, or discontinue the Site and its services and products (including, but not limited to, the availability of any feature, database, or Content) at any time for any reason which may not be limited to:
  • comply with changes in law,
  • correct inaccuracies, omissions, errors,
  • scope and nature of the products and services,
  • company reorganization or restructuring,
  • market practice or customer requirements.
• TFMPL may also impose limits on certain features, products and services or restrict your access to parts or all of the Site without notice or liability. It is your responsibility to check the Terms of Use periodically for changes. Your continued use of the Site following the posting of any changes to the Terms of Use constitutes acceptance of those changes and you confirm to be bound by the same.


• If you do not agree or accept with any of these Terms of Use, you may not use this website or email us your concern on support@torusgroup.in.


• The entire “market data” is sourced from “An external data content agency” and we are not to be responsible for its “integrity / availability” of the same.

Registration

• create an account on the Site;
• sign up on the Site; and/or
• making use of the feature of the Site or the Services available therein.

Rights of TFMPL

• TFMPL shall have the right to:
  
• make changes in its services or products, at its sole discretion, at any time, without notice or liability;
• decide who’s eligible to use the services and or products offered;
• cancel accounts or decline to offer our services and or products;
• change our eligibility criteria at any time; and
• reject, cancel, interrupt, remove, or suspend any project at any time and for any reason.
• TFMPL will not have any ownership rights over your User submissions and Content. However, by accepting these Terms of Use, you provide your consent to TFMPL to collect, store, process, analyze, use and disclose all Information (as defined under the Privacy Policy) related to you, for the use and purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by you, this Site do not collect or store or share your Information. For the purpose of providing the services and products, the website will use TFMPL Group Entities and their authorized business partners or third party agents and to that extent you understand and authorize the TFMPL to share/transmit such Information to TFMPL Group Entities and their business partners or third party agents. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any TFMPL Group Entities’ product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the website to your interests, and to get in touch with you whenever necessary.
• TFMPL will not disclose your Personal Information with any unaffiliated third parties without your prior written consent which shall include electronic consent save and except where such information shall be disclosed in good faith and for the purpose of law for the time being in force or to protect the rights and property oftorusmoney.com.

Third-Party Sites

• In your use of the website, you may enter into correspondence with, purchase goods and/or services from, or participate in promotions of advertisers or members or sponsors of the website. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or services, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable third party. You agree that TFMPL has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any such third party.
• This website may be linked to other websites on the World Wide Web that are not under the control of or maintained by TFMPL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, services and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any services and/or products available through any of these websites are suitable for your purposes. TFMPL is not responsible for the owners or operators of these websites or for any goods or services they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

Representations and warranties

• You hereby represent and warrant to TFMPL that:
• all information provided by them during the online or offline registration is true and accurate; and
• they are capable (in case of an individual, being above 18 years of age) and duly authorized (in case of a legal entity, by way of appropriate corporate approvals) to enter into the agreement or arrangement, on behalf of himself, any other person, company, or other entity.

General terms and conditions

Rules and Conduct

• As a condition of use, you promise not to use the Site for any purpose that is prohibited by the Terms of Use or law. The Site and its’ services are provided only for your own personal, non-commercial use (except as allowed by in this Terms of Use). You are responsible for all of your activity in connection with the Site and its services. You shall not, and shall not permit any third party using your account to, take any action, or submit content, that:
1. Infringes any patent, trademark, trade secret, copyright, right of publicity, or other right of any other person or entity, or violates any law or contract;
2. You know is false, misleading, or inaccurate;
3. Is unlawful, threatening, abusive, harassing, defamatory, libellous, deceptive, fraudulent, tortious, obscene, offensive, profane, or invasive of another’s privacy;
4. Constitutes unsolicited or unauthorized advertising or promotional material or any junk mail, spam, or chain letters;
5. Copy (whether by printing off onto paper, storing on disk, downloading or in any other way), distribute (including distributing copies), download, display, perform, reproduce, distribute, modify, edit, alter, enhance, broadcast or tamper with in any way or otherwise use any material contained in the web site except as set out under “You may”. These restrictions apply in relation to all or part of the material on the website;
6. Copy and distribute this information on any other server, or modify or re-use text or graphics on this system or another system. No reproduction of any part of the website may be sold or distributed for commercial gain nor shall it be modified or incorporated in any other work, publication or web site, whether in hard copy or electronic format, including postings to any other website;
7. Remove any copyright, trade mark or other intellectual property notices contained in the original material from any material copied or printed off from the website; link to this web site; without our express written consent;
8. Contains software viruses or any other computer codes, files, or programs that are designed or intended to disrupt, damage, limit, or interfere with the proper function of any software, hardware, or telecommunications equipment or to damage or obtain unauthorized access to any system, data, password, or other information of TFMPL or any third party; or
9. Impersonates any person or entity, including any employee or representative of the TFMPL.
10. Additionally, you shall not:
11. take any action that imposes or may impose (as determined by TFMPL in its sole discretion) an unreasonable or disproportionately large load on the TFMPL’s or its third-party providers’ infrastructure;
12. interfere or attempt to interfere with the proper working of the service or any activities conducted on the service;
13. bypass any measures the TFMPL may use to prevent or restrict access to the services (or other accounts, computer systems, or networks connected to the service);
14. run Mail list, Listserv, or any form of auto-responder or “spam” in relation to the services or the products of TFMPL Group Entities; or
15. use manual or automated software, devices, or other processes to “crawl” or “spider” any page of the Site.
16. not make any negative, denigrating or defamatory statement(s) or comment(s) about TFMPL or the brand name or domain name used by TFMPL, or otherwise engage in any conduct or action that might tarnish the image or reputation, of TFMPL on any platform or otherwise tarnish or dilute any of TFMPL’s trade or service marks, trade name and/or goodwill associated with such trade or service marks, trade name and/or goodwill associated with such trade or service marks, trade name as may be owned or used by us. You agree that you will not take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Site or TFMPL’s systems or networks, or any systems or networks connected to TFMPL.

    You shall not directly or indirectly:

    1. 17.decipher, decompile, disassemble, reverse engineer, or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the service and or website, except to the limited extent applicable laws specifically prohibit such restriction;
    2. 18.modify, translate, or otherwise create derivative works of any part of the services or products or contents; or
    1. cancel, reject, interrupt, remove, or suspend a project;
    2. remove, edit, or modify any Content, including, but not limited to, any User submission; and
    3. remove or block any User or User submission. TFMPL reserves the right not to comment on the reasons for any of these actions.

    Warranty Disclaimer

    • TFMPL tries to ensure that all Contents provided as part of this website is correct at the time of inclusion on the web site, however TFMPL does not guarantee the accuracy of the Contents including information and recommendations, whether in relation to the products, services, offerings or otherwise. TFMPL makes no representations or warranties as to the completeness or accuracy of Contents or Information.
    • TFMPL makes no commitment to update or correct any Content and or Information that appears on the internet or on this website. Information or Content is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. No Content at this website shall constitute an invitation to invest in TFMPL Group Entities. Any use of this website or the Content/Information is at your own risk. Neither TFMPL and or other TFMPL Group Entities, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this website or the Information, or any website linked to this website.
    • Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and TFMPL makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise.
    • TFMPL Group Entities shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this site.
    • This website is provided to you on an “as is” and “where-is” basis, without any warranty. TFMPL, for itself and any third-party providing materials, services, or content to this website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or services to which the information refers. TFMPL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if TFMPL has previously been advised of the possibility of such damages.
    • TFMPL controls and operates this Site from India and makes no representation that the materials are appropriate or will be available for use in other locations. If you use this web site from outside the India, you are entirely responsible for compliance with all applicable local laws. TFMPL does not make any warranty or representation that a User in one region may obtain the services from the TFMPL’s Site in another region and TFMPL may cancel a User’s order or redirect a User to the site for that User’s region if a User attempts to order services or products offered on a Site in another region.
    • Information that TFMPL publishes on the World Wide Web may contain references or cross references to TFMPL Group Entities’ products, programs and services that are not announced or available in your country. Such references do not imply that TFMPL intends to announce such products, programs or services in your country. Consult your local TFMPL Group Entities’ business contact for information regarding the products, programs and services that may be available to you.
    • Some states or countries do not allow limitations on how long an implied warranty lasts, so the above limitations may not apply to you. The Company makes no guaranty of confidentiality or privacy of any communication or information transmitted on the Site or any website linked to the Site. TFMPL will not be liable for the privacy of email addresses, registration and identification information, disk space, communications, confidential or trade-secret information, or any other Content stored on the Company’s equipment, transmitted over networks accessed by the Site, or otherwise connected with your use of the services or products. The Company will not be liable for the privacy of Information including email addresses, registration and identification information, disk space, communications, confidential or trade-secret information, or any other Content stored on the Company’s equipment, transmitted over networks accessed by the Site, or otherwise connected with your use of the services or products.
    • The Content, services or products on the Site are not intended to provide any legal, tax or financial or securities related advice. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your advisor or other financial advisers who are fully aware of your individual circumstances.
    • You authorise us to use/disseminate the information to provide the financial solutions and various options which are generally available basis your investment profile or those which are generally held by persons of similar investment profile, however it is not necessarily for you to act on it.

    Intellectual Property Rights

    • This website contains material, including text, /images, graphics, video and sound, which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in this material are either owned by TFMPL or have been licensed to TFMPL by the owner(s) of those rights so that it can use this material as part of this website. TFMPL retains copyright on all Contents, including text, graphics and sound and all trademarks displayed on this website are owned by TFMPL and used under licence by TFMPL Group Entities.

    Content and License

    • You agree that the Site contains Content provided by TFMPL and its business partners and Users and that the Content may be protected by copyrights, trademarks, service marks, patents, trade secrets, or other rights and laws. You shall abide by and maintain all copyright and other legal notices, information, and restrictions contained in any Content accessed through the Service. TFMPL grants to each User of the Site a worldwide, non-exclusive, non-sub-licensable and non-transferable license to use and reproduce the Content, solely for personal, non-commercial use. Use, reproduction, modification, distribution, or storage of any Content for other than personal, non-commercial use is prohibited without prior written permission from TFMPL, or from the copyright holder. You shall not sell, license, rent, or otherwise use or exploit any Content for commercial use or in any way that violates any third-party right.

    Termination

    • TFMPL may terminate your access to the Site, without cause or notice, which may result in the forfeiture and destruction of all information associated with your account. If you wish to terminate your account, you may do so by following the instructions on the Site. Any amount paid to TFMPL are non-refundable. All provisions of the Terms of Use that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.

    Indemnification

    • The Users shall also not hold TFMPL or any of its directors, employees, agents, partners, vendors, suppliers, or content providers responsible for any unforeseen technical glitches such as but not limited to Site down for maintenance, server errors, speed of website download, any viruses in the Site etc., that might affect transaction activity on Site. Additionally, You shall defend, indemnify and hold harmless TFMPL and its directors, employees, agents, partners, vendors, suppliers, or content providers, TFMPL Group Entities and its employees, contractors, directors, suppliers, and representatives from all direct and indirect liabilities, claims, and expenses, including reasonable attorneys’ fees, that arise from or relate to your breach or non-compliance of any of the Terms of Use herein, misrepresentation, use or misuse of, or access to, the service and content, or otherwise from your User submissions, violation of the Terms of Use, or infringement by You, or any third party using your account, of any intellectual property or other right of any person or entity. TFMPL reserves the right to assume the exclusive defence and control of any matter otherwise subject to indemnification by you, in which event you will assist and cooperate with TFMPL in asserting any available defences.

    Limitation of liability

    • In no event shall TFMPL, nor its directors, employees, agents, partners, vendors, suppliers, or content providers, be liable under contract, tort, strict liability, negligence, or any other legal or equitable theory with respect to the services or products:
    • for any lost profits, data loss, cost of procurement of substitute goods or services, or special, indirect, incidental, punitive, or consequential damages of any kind whatsoever, substitute goods or services (however arising); and
    • for any bugs, viruses, trojan horses, or the like (regardless of the source of origination).
    • TFMPL shall not be liable for any failure to perform its obligations hereunder where the failure results from any cause beyond the TFMPL’s reasonable control, including, without limitation, third party intervention, change in law or economic circumstances, mechanical, electronic, or communications failure or degradation.

    Consent, electronic communications and use of cookies

    Consent

    • You hereby give consent under these Terms of Use, for availing information/services related to TFMPL Group Entities; You agree and authorise the TFMPL to collect, store, process, share, transfer/transmit your Information with its TFMPL Group Entities and other associated business partners and third parties, in so far as required for offering of facilities through this website and for analytical / marketing purposes /report generations and/or to offer connected facilities on the website and may also include transfer/sharing/transmitting of sensitive personal data or information only if it is deemed necessary for the performance of facilities and to provide you with various value added and ancillary facilities/services and information, to aid you in managing your money needs in the manner agreed under these Terms of Use and the Privacy Policy. You agree to receive e-mails/sms/phone calls and such other mode as permitted under law from the TFMPL Group Entities or its associated business partners and third parties regarding the facilities updates, information/promotional offer and/or new product announcements and such other related information.
    • You also agree and authorise TFMPL Group Entities to contact you at the contact information provided for service related communication relating to your product or facilities offered even if your number is in National Do Not Call Registry.
    • You have the option to withdraw or opt out the said consent in the manner specified under the Privacy Policy and details as provided on the website. The Privacy Policy may be updated from time to time. Changes will be effective upon posting of the revised Privacy Policy on the website.
    • These Terms of Use and any notices or other communications regarding the facilities, services or products may be provided to you electronically, and you agree to receive communications from the Site in electronic form. Electronic communications may be posted on the Site and/or delivered to your registered email address, mobile phones etc. either by by TFMPL Group Entities with whom the services are availed. All communications in electronic format will be considered to be in “writing”. Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the TFMPL Group Entities shall have the right to terminate such facilities or services.
    • We use data collection devices such as “Cookies” on certain pages of the Site to help analyze our web page flow, measure promotional effectiveness, and promote trust and safety. “Cookies” are small files placed on your hard drive that assist us in providing our services. We offer certain features that are only available through the use of a “Cookie”. We also use Cookies to allow you to enter your password less frequently during a session. Cookies can also help us provide information that is targeted to your interests.

    Dispute Resolution and Governing Law

    • The website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for Users in the territory of India. In case of any dispute, either judicial or quasi-judicial, whether in contract or tort or otherwise, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.
    • These Terms of Use are governed by and constructed in accordance with the laws of India without reference to conflict of laws principles and disputes arising in relation hereto shall be subject to the exclusive jurisdiction of the courts of Mumbai.

    Integration, Severability and Waiver

    • These Terms of Use, the Privacy Policy and other referenced material herein or on the Site, are the entire agreement between you and TFMPL with respect to the Contents, Information, services, products and supersede all prior or contemporaneous communications and proposals (whether oral, written or electronic) between you and TFMPL with respect to the Contents, Information, services and products and govern the future relationship. If any provision of the Terms of Use is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that the Terms of Use will otherwise remain in full force and effect and enforceable. The failure of either party to exercise in any respect any right provided for herein shall not be deemed a waiver of any further rights hereunder.

    Assignment

    • You shall not assign your rights and obligations under this agreement to any other party. The website may assign or delegate its rights and/or obligations under this agreement to any other party in future, directly or indirectly, or to TFMPL Group Entities.

• You agree, understand and confirm that the credit card/debit card/wallets details provided by you towards Torus Financial Markets Private Limited for availing of any of our products or services will be correct and accurate and you shall not use the credit card/debit card/account or any other details which is not lawfully owned by you, i.e. in a transaction, you must use your own card/account. You further agree and undertake to provide the correct and valid details when making payment to avail our products or services.


• We do not store any information related to your Credit card/ Debit card or Net banking. In case we do not receive an authorization from the respective bank or the transaction gets interrupted due to any reason, the transaction will be treated as failed and no order will be processed for that transaction.


• In this case, if any amount has been deducted from your account, the same will be credited back to your source account as per the banking TAT. The liability for use of a card or bank details fraudulently will be on you and the onus to 'prove otherwise' shall be exclusively on you.

• The 3 in 1 accounts integrate a Savings account, Demat account and a Trading account to provide a seamless investment experience. The demat and the trading account, shall be governed as per the terms & conditions laid down by Torus Financial Markets Private Limited. The savings account shall be governed as per terms and conditions laid down by Suryoday Small Finance Bank. This facility is being offered as a result of tie up between Torus Digital Private Limited and Suryoday Small Finance Bank to the customer on purely voluntary basis.


• Torus group does not control the products and services offered by Suryoday Small Finance Bank. This disclaimer is for information only and should not be considered as suggestion for investment by Torus group. Investments in securities market are subject to market risks, read all the related documents carefully before investing.

• Registered & Correspondence address: Torus Financial Market Private Limited, 2nd floor, ICC Chambers-II, Saki Vihar Road, Near MTNL office, Powai, Mumbai-400072. Tel: 022 6895 9000, CIN: U65990MH2021PTC356714. SEBI Registration No.:- INZ000299936, Stock Broker: BSE (Member code 6761) & NSE (Member code 90245)- Depository Participant: CDSL – IN-DP-664-2022, Research Analyst: INH000008695, (Corporate). Mutual Funds: AMFI ARN No.241161. Name of the Compliance Officer : Rahul Bhanushali Email Address: TFM.Compliance@torusgroup.in. For any grievance related services please call 02268959000 or write to helpdesk on email id grievance@torusgroup.in.


• Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investorsInvestment in Securities Investment in Securities markets are subject to market risks, read all the related documents carefully before investing. TFMPL is a distributor for MF, PMS, AIF, Private Equity, IPO, Bonds, NCDs, Corporate FDs, Structured Products, Loan & Realty. TFMPL is just acting as distributor. All disputes with respect to the distribution activity, would not have access to the Exchange Investor Redressal Forum or Arbitration mechanism.


• Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns. The securities quoted are exemplary and are not recommendatory. Brokerage will not exceed the SEBI prescribed limit. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs.

By participating in this Referral Program (“Program”), you (“Referrer”) acknowledge and agree to the following terms and conditions:

1. Referral Eligibility and Conditions
   1. 1.1 The referral reward shall be applicable as per the offer active at the time when the referred individual (“Referee”) successfully completes mobile number and email verification via OTP and sets up a 3-in-1 Torus Account, which includes Banking, Demat, and Trading accounts.
   2. 1.2 A referral shall be deemed successful only upon activation of the Referee's 3-in-1 account, subject to full document submission and verification in compliance with applicable SEBI/Exchange regulations and the internal policies and procedures of the Company.


2. Referral Rewards
   1. 2.1 The Referrer shall receive an amount of ₹250 for each of the first three (3) successful referrals, without any additional conditions.
   2. 2.2 For any referral beyond the third, the Referrer shall be eligible for the ₹250 reward only if the respective Referee maintains a Monthly Average Balance (MAB) of ₹10,000 or more in their SSFB account.
   3. 2.3 If the MAB condition is not satisfied, no reward shall be payable for such referral(s).
3. Prohibited and Fraudulent Activities
   1. 3.1 Any attempt to engage in fraudulent, manipulative, or abusive practices including but not limited to self-referrals, the use of fake or multiple identities, or altering IP address/device information shall result in immediate disqualification from the Program.
4. Disqualification and Revocation of Rewards
   1. 4.1 Any violation of these terms shall render the user ineligible to participate further in the Program.
   2. 4.2 The Company reserves the right, in its sole and absolute discretion, to revoke any previously credited or pending referral rewards in the event of a breach or suspected breach of these terms.
5. Right to Modify or Terminate
   1. 5.1 The Company reserves the right to modify, suspend, or terminate the Referral Program or these terms at any time, with or without prior notice, for any reason, including but not limited to regulatory compliance or operational exigencies.
   2. 5.2 The Company may, at its sole discretion, withdraw referral privileges at any time if any form of misuse, undue advantage, or suspicious activity is detected or reasonably suspected.
6. General Disclaimer
   1. 6.1 Any disputes or grievances arising from or related to the Referral Program shall not be subject to the Exchange’s investor grievance redressal mechanism.
   2. 6.2 The Company reserves the right to withdraw or amend the offer at its sole discretion without assigning any reason thereof.

Main Features of GTT

How does the GTT feature work?

GTT is a feature which allows you to set a trigger price and limit price, such that; if your trigger price is hit in a future date, a limit order will be placed on the exchange as per the limit price set by you.

In case the trigger price is breached during a particular day and the limit price selected is not exactly met on the same day, all such orders will be cancelled at the end of such trading day session.

If the Last Traded Price (LTP) of a scrip jumps higher than the trigger price selected, or if the LTP opens at a gap up or gap down breaching the selected trigger price, an order would be placed at the selected limit price.

Terms of Usage - Good Till Trigger (GTT):

These Terms of Use govern the usage of services of the GTT Feature. By agreeing to use this GTT Feature terms, you agree to have read and understood these clauses, conditions, the modalities of how the GTT Feature clearly works, and Torus’s policies, procedures and risk disclosure documents.

Definitions:

1.1 “Exchange” shall mean any recognized stock exchange in India of which Torus is a member, including but not limited to the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE), and shall include their clearing corporations.

1.2 “Good Till Trigger Feature” or “GTT Feature” shall be defined as per Clause 2.

1.3 “Last Traded Price” or “LTP” is the last traded price at which a stock/scrip was traded on the Exchange.

1.4 “Limit Order” or limit order shall be defined as per the NSE “Order Conditions” which can be found here: https://www.nseindia.com/static/products-services/equity-market-trading-system. As per NSE, a Limit Order shall mean “an order that allows the price to be specified while entering the order into the system.”

1.5 “RMS” or “Risk Management System” is the system in place at Torus which monitors all positions of Torus clients on a real time basis and sees to it that clients maintain margins with respect to all positions/positional trades & that Torus maintains margins at a broker/trading member level with the clearing houses. The RMS also constantly vets each order, on a pre-trade basis, placed by a client towards the exchanges to see whether the order is as per Torus’s risk management policies and procedures, and whether the client has placed such order with sufficient cash balances, holdings and as per the rules set by Torus and the Exchanges. The RMS continuously enforces Torus’s terms, policies & procedures, by enforcing limits of margins/squaring off positions with respect to each client, as per the risk management policies followed by Torus. You, as a client, are required to always be updated with Torus’s risk management policies, terms, and procedures.

1.6 “SEBI” shall mean Securities and Exchange Board of India.

1.7 “Torus” or “Broker” shall mean Torus Financial Markets Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at 02nd Floor, ICC Chambers – II, Saki Vihar Road, Near MTNL Office, Powai, Mumbai, Maharashtra – 4000 72, registered with the Securities and Exchange Board of India (SEBI) as a Stock Broker under Registration No. INZ000299936, and a member of recognized stock exchanges including NSE and BSE.

1.8 “Torus Digital” shall mean the brand name, website, and mobile application interface through which trading services of Torus Financial Markets Private Limited are offered. Torus Digital may be operated and maintained by Torus Digital Private Limited or its affiliates, solely as a technology service provider. For avoidance of doubt, all trading services, including the GTT Feature, are offered solely by Torus Financial Markets Private Limited in its capacity as a SEBI-registered stock broker.

1.9 “Trigger Condition” shall mean the criteria and conditions entered by You, which if met, the corresponding limit order entered by you will be placed on the exchange. The below set of conditions, not being limited to, are required to be selected by You:

- A Trigger Price (defined as per Clause 1.4)

- A Limit Price: the price selected by you, which places a limit order at the price selected by you after the Trigger Price is met or breached.

1.10 “Trigger Price” shall mean the price entered by you to trigger a limit order and place it on the exchange while using the GTT feature. This price selected by You may either be:

- The price used to trigger a buy order in case it is being placed for stock/scrips that are not in Your current existing holdings;

- The price used to trigger a selling/target order in case it is being placed at a higher price than the current market price, for stock/scrips that are already existing in your current holdings;

- The price used to trigger a selling/stop-loss order in case it is being placed at a lower price than the current market price, for stock/scrips that are already existing in your current holdings.

All prices entered by You for the Trigger Price shall be tracked against the Last Traded Price (LTP) of the stock/scrip.

The price selected by you as a Trigger Price, for stocks/scrips, must be 0.25% away from the current market price of the stock.

1.11 “You” or “Your” or “Yourself” shall mean you, the client, having a trading and demat account i.e. a Client ID, with Torus Group and using the GTT Feature placement services from your Torus Mobile Application.

GTT Feature as a Service:

“Good Till Trigger Feature” or “GTT Feature” or “GTT” is a feature which allows You to set certain Trigger Conditions; such that, as and when such Trigger Conditions are met, a limit order as per the Trigger Conditions set by You would be placed on the Exchanges.

By using the GTT Feature, there is no actual order placed, until and unless the Trigger Conditions, as set by You are met. Torus stores the Trigger Conditions, as set by You, and places a limit order to the Exchange as and when the Trigger Conditions are met.

At all times while placing GTT, You are required to maintain sufficient cash balance & sufficient quantity of holdings of the respective scrip in Your trading account, such that; all Your GTT’s may be successfully triggered, as per the Trigger Conditions set by You. In case there is insufficient cash balance or insufficient quantity of holdings with respect to your GTTs at any point of time in your trading and demat account, your GTTs may be cancelled at the sole discretion of Torus & the Torus RMS.

The Client expressly acknowledges that placing a GTT does not block, earmark, lien-mark, or reserve any funds, margins, or securities in advance. Margin requirements and availability of holdings shall be verified only at the time the Trigger Condition is met and the limit order is attempted to be placed.

In case sufficient funds, margins, or holdings are unavailable at such time, the order may not be placed or may be rejected without prior notice.

There are various checks that the RMS at Torus does on a pre-trade basis as and when clients request orders to be placed, but before orders are placed at the Exchanges. All such checks are done as per the rules of the Exchanges, SEBI & Torus’s internal risk management policies and procedures.

The Call & Trade feature at Torus shall not be allowed for clients using the GTT Feature.

At a particular point of time, you / each client may only have a maximum of 100 pending GTTs.

Orders may not be placed, may be rejected or cancelled, may not be executed, even if Trigger Conditions are met, as per the GTT Feature, in the below mentioned market timings/conditions (this list is non-exhaustive and only indicative):

- In case the Trigger Price is breached during any day (which may be caused due to a gap up or gap down opening at market opening), an order shall be placed at the limit price selected by you and shall be cancelled at the end of such trading session; in case such limit price is not met during the day;

- In case the minimum difference between Trigger Price selected and the LTP at that point of time, is not as per Clause 1.5;

- All GTT’s are cancelled after 365 days from placing such request in case they are not triggered as per the Trigger Conditions;

- Where there is a change in exchange series or any corporate action, such as splits, bonuses, dividends of extraordinary nature (above 5% of market price), merger, demerger, amalgamations, takeover, delisting, rights issue, etc. having a significant impact/change in the scrip / contract price, the GTT orders shall be cancelled at the sole discretion of Torus, 1 day prior to the Ex-date of such corporate action;

- Order requests being placed through the GTT Feature, once the Trigger Price is breached and such limit price selected is outside the circuit limits of the particular scrip;

- Scrips falling under the Call Auction list by NSE are not to be used under the GTT Feature.

A single GTT is a trigger which is valid for only one time, after a limit order is placed. In case a limit order is placed due to the Trigger Price being breached or for any other reason on any particular day, but the limit order is not exactly met on the same day, such GTTs will be required to be placed once again.

Once a GTT is triggered for a derivative contract, if the order is placed outside of the contract's "execution range" it may be cancelled by the exchange. Any cost you may incur due to such cancellation of an order placed outside the execution range is liable to be paid by you.

If a GTT is triggered for an option contract that isn't allowed for trading by Torus, the order may be rejected.

The onus of checking for a pending GTT for a scrip before placing any new order(s) for the same scrip from the order window, positions page, or via call and trade shall rest solely with the Client.

GTTs for derivative contracts are only valid for the lifetime of the contract. Pending GTTs for a contract will be invalidated one day after the expiry of the contract.

Client Responsibility:

The Client acknowledges and agrees that:

- A GTT is not a stop-loss guarantee order.

- The Client shall be responsible for all open GTT instructions placed through the platform. The Client acknowledges that triggering of a GTT does not guarantee execution of the corresponding limit order.

- The Client shall ensure accuracy of all Trigger Conditions entered and maintain sufficient funds, margins, and/or securities at the time of trigger. Placing a GTT does not block or reserve funds or holdings.

- The Client shall independently monitor pending GTTs and market conditions and shall be responsible for modifying or cancelling GTT instructions, where required.

- Losses, if any, arising due to non-modification, non-cancellation, insufficient margin, market volatility, corporate actions, or regulatory restrictions shall be borne solely by the Client.

- All rules, regulations, circulars and guidelines issued by SEBI and the Exchanges shall be strictly adhered to while placing instructions through Torus.

Charges for Usage of GTT Feature type:

No additional charges will be levied for the usage of GTTs. Normal brokerage will apply to the order once the GTT is triggered.

This pricing is subject to change at the sole discretion of Torus after giving sufficient prior notice to customers via website, mobile application, email communication, or any other legally permissible mode of communication.

Risks, Non Execution & Applicable Law:

This GTT order does not assure execution of an order and includes/involves all risks with respect to Internet Based Trading, and risks with respect to trading in the Capital Markets segments will extend to trading using the GTT orders as well.

Please make sure to once again read and understand the terms, conditions and points under the Equity Annexure & Risk Disclosure Document, which you have already agreed to while opening Your trading account with Torus.

Torus is a stock broking entity registered with SEBI under the registration number INZ000299936, and a member of NSE & BSE. Therefore, all rules and regulations prescribed by SEBI and the Exchanges would have to strictly be followed by you while placing instructions through Torus. All other laws and regulations as per the Republic of India would be applicable.

GTT triggers will be triggered only based on the live last traded price it is tracking on the exchange. When using GTT with limit price, there is no guaranteed execution as the LTP could have changed when the order is placed post trigger.

The Trigger Condition shall be evaluated solely based on the Last Traded Price (LTP) received through Torus’s market data feed from the relevant Exchange. The Trigger Condition shall not be evaluated based on bid price, ask price, theoretical price, or any other reference price.

The Client acknowledges that there may be a time lag between the LTP update, trigger detection, and order placement due to system processing, polling intervals, or market volatility. Torus does not guarantee instantaneous trigger detection or order placement.

Torus shall not be liable for any non-triggering, delayed triggering, erroneous triggering, non-placement, rejection, cancellation, delay in transmission, partial execution, or non-execution of any order arising out of or attributable to system failure, technical glitches, software or hardware malfunction, internet interruption, data feed disruption, exchange downtime, power failure, latency issues, third-party service provider failure, force majeure events, or any circumstances beyond the reasonable control of Torus.

Torus does not warrant or guarantee the accuracy, completeness, timeliness, or uninterrupted availability of market data, including LTP data received from Exchanges or third-party vendors. Any trigger based on such data shall be subject to data integrity and transmission accuracy.

Indemnification:

The Client agrees to indemnify, defend and hold harmless Torus, its directors, officers, employees, agents, affiliates and service providers from and against any and all losses, liabilities, claims, damages, penalties, costs and expenses (including reasonable legal fees and expenses) arising out of or in connection with:

(a) misuse or improper use of the GTT Feature by the Client;

(b) incorrect Trigger Conditions, Trigger Price or Limit Price entered by the Client;

(c) insufficiency of funds, margin, or securities at the time of trigger;

(d) breach of these Terms, Exchange rules, SEBI regulations or applicable law by the Client;

(e) any third-party claims arising due to the Client’s trading activities through the GTT Feature;

(f) failure by the Client to modify or cancel pending GTT instructions.

This indemnity obligation shall survive termination or discontinuation of the GTT Feature.

Limitation of Liability:

Under no circumstances shall Torus, its directors, employees, agents, affiliates, or service providers be liable for any direct, indirect, incidental, special, consequential, exemplary, or punitive damages, including but not limited to loss of profits, trading losses, opportunity loss, or loss arising due to price movement or market volatility, arising from or in connection with the use of the GTT Feature.

The Client acknowledges that use of the GTT Feature is at their sole risk.

Dispute Resolution & Governing Law:

All disputes arising out of or in connection with the GTT Feature shall be subject to the Rules, Byelaws, and Regulations of the respective Exchange(s) and SEBI. Any disputes shall be resolved through the Exchange arbitration mechanism in accordance with applicable laws.

These Terms shall be governed by and construed in accordance with the laws of India. Subject to the arbitration mechanism of the Exchanges, courts at Mumbai shall have exclusive jurisdiction.

Subject to Change:

Torus reserves the right to modify, suspend, withdraw, or replace the GTT Feature and/or these Terms of Usage at its discretion. Any material modifications shall be communicated through the website, mobile application, email, or other legally permissible mode. Continued usage of the GTT Feature after such modification shall constitute acceptance of the revised Terms.

• 1. The client shall invest/trade in those securities/ contracts/other instruments admitted to dealings on the Exchanges as defined in the Rules, Byelaws and Regulations of Exchanges/ Securities and Exchange Board of India (SEBI) and circulars/ notices issued there under from time to time.
• 2. The stock broker, sub-broker and the client shall be bound by all the Rules, Byelaws and Regulations of the Exchange and circulars/ notices issued there under and Rules and Regulations of SEBI and relevant notifications of Government authorities as may be in force from time to time.
• 3. The client shall satisfy itself of the capacity of the stock broker to deal in securities and/or deal in derivatives contracts and wishes to execute its orders through the stock broker and the client shall from time to time continue to satisfy itself of such capability of the stock broker before executing orders through the stock broker.
• 4. The stock broker shall continuously satisfy itself about the genuineness and financial soundness of the client and investment objectives relevant to the services to be provided.
• 5. The stock broker shall take steps to make the client aware of the precise nature of the Stock broker's liability for business to be conducted, including any limitations, the liability and the capacity in which the stock broker acts.
• 6. The sub-broker shall provide necessary assistance and co-operate with the stock broker in all its dealings with the client(s).


• CLIENT INFORMATION
• 7. The client shall furnish all such details in full as are required by the stock broker in "Account Opening Form" with supporting details, made mandatory by stock exchanges/SEBI from time to time.
• 8. The client shall familiarize himself with all the mandatory provisions in the Account Opening documents. Any additional clauses or documents specified by the stock broker shall be non-mandatory, as per terms & conditions accepted by the client.
• 9. The client shall immediately notify the stock broker in writing if there is any change in the information in the 'account opening form' as provided at the time of account opening and thereafter; including the information on winding up petition/insolvency petition or any litigation which may have material bearing on his capacity. The client shall provide/update the financial information to the stock broker on a periodic basis.
• 10. The stock broker and sub-broker shall maintain all the details of the client as mentioned in the account opening form or any other information pertaining to the client, confidentially and that they shall not disclose the same to any person/authority except as required under any law/regulatory requirements. Provided however that the stock broker may so disclose information about his client to any person or authority with the express permission of the client.


• MARGINS
• 11. The client shall pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the stock broker or the Exchange or as may be directed by SEBI from time to time as applicable to the segment(s) in which the client trades. The stock broker is permitted in its sole and absolute discretion to collect additional margins (even though not required by the Exchange, Clearing House/Clearing Corporation or SEBI) and the client shall be obliged to pay such margins within the stipulated time.
• 12. The client understands that 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 settlement of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require.


• TRANSACTIONS AND SETTLEMENTS
• 13. The client shall give any order for buy or sell of a security/derivatives contract in writing or in such form or manner, as may be mutually agreed between the client and the stock broker. The stock broker shall ensure to place orders and execute the trades of the client, only in the Unique Client Code assigned to that client.
• 14. The stock broker shall inform the client and keep him apprised about trading/settlement cycles, delivery/ payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the client to comply with such schedules/procedures of the relevant stock exchange where the trade is executed.
• 15. The stock broker shall ensure that the money/securities deposited by the client shall be kept in a separate account, distinct from his/its own account or account of any other client and shall not be used by the stock broker for himself/itself or for any other client or for any purpose other than the (2) purposes mentioned in Rules, Regulations, circulars, notices, guidelines of SEBI and/or Rules, Regulations, Bye-laws, circulars and notices of Exchange.
• 16. Where the Exchange(s) cancels trade(s) suo moto all such trades including the trade/s done on behalf of the client shall ipso facto stand cancelled, stock broker shall be entitled to cancel the respective contract(s) with client(s).
• 17. The transactions executed on the Exchange are subject to Rules, Byelaws and Regulations and circulars/notices issued thereunder of the Exchanges where the trade is executed and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Byelaws and Regulations of the Exchanges where the trade is executed for the purpose of giving effect to the provisions of the Rules, Byelaws and Regulations of the Exchanges and the circulars/notices issued thereunder.


• BROKERAGE
• 18. The Client shall pay to the stock broker brokerage and statutory levies as are prevailing from time to time and as they apply to the Client's account, transactions and to the services that stock broker renders to the Client. The stock broker shall not charge brokerage more than the maximum brokerage permissible as per the rules, regulations and bye-laws of the relevant stock exchanges and/or rules and regulations of SEBI.


• LIQUIDATION AND CLOSE OUT OF POSITION
• 19. Without prejudice to the stock broker's other rights (including the right to refer a matter to arbitration), the client understands that the stock broker shall be entitled to liquidate/close out all or any of the client's positions for non-payment of margins or other amounts, outstanding debts, etc. and adjust the proceeds of such liquidation/close out, if any, against the client's liabilities/obligations. Any and all losses and financial charges on account of such liquidation/closing-out shall be charged to and borne by the client.
• 20. In the event of death or insolvency of the client or his/its otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the client has ordered to be bought or sold, stock broker may close out the transaction of the client and claim losses, if any, against the estate of the client. The client or his nominees, successors, heirs and assignee shall be entitled to any surplus which may result there from. The client shall note that transfer of funds/securities in favor of a Nominee shall be valid discharge by the stock broker against the legal heir.
• 21. The stock broker shall bring to the notice of the relevant Exchange the information about default in payment/delivery and related aspects by a client. 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 by the stock broker to the relevant Exchange(s).


• DISPUTE RESOLUTION
• 22. The stock broker shall provide the client with the relevant contact details of the concerned Exchanges and SEBI.
• 23. The stock broker shall co-operate in redressing grievances of the client in respect of all transactions routed through it and in removing objections for bad delivery of shares, rectification of bad delivery, etc.
• 24. The client and the stock broker shall refer any claims and/or disputes with respect to deposits, margin money, etc., to arbitration as per the Rules, Byelaws and Regulations of the Exchanges where the trade is executed and circulars/notices issued thereunder as may be in force from time to time.
• 25. The stock broker shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered into between him vis-à-vis the client and he shall be liable to implement the arbitration awards made in such proceedings.
• 26. The client/stock-broker understands that the instructions issued by an authorized representative for dispute resolution, if any, of the client/stock-broker shall be binding on the client/stock-broker in accordance with the letter authorizing the said representative to deal on behalf of the said client/stock-broker.


• TERMINATION OF RELATIONSHIP
• 27. This relationship between the stock broker and the client shall be terminated; if the stock broker for any reason ceases to be a member of the stock exchange including cessation of membership by reason of the stock broker's default, death, resignation or expulsion or if the certificate is cancelled by the Board.
• 28. The stock broker, sub-broker and the client shall be entitled to terminate the relationship between them without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this relationship shall continue to (3) subsist and vest in/be binding on the respective parties or his/its respective heirs, executors, administrators, legal representatives or successors, as the case may be.
• 29. In the event of demise/insolvency of the sub-broker or the cancellation of his/its registration with the Board or/withdrawal of recognition of the sub-broker by the stock exchange and/or termination of the agreement with the sub broker by the stock broker, for any reason whatsoever, the client shall be informed of such termination and the client shall be deemed to be the direct client of the stock broker and all clauses in the 'Rights and Obligations' document(s) governing the stock broker, sub-broker and client shall continue to be in force as it is, unless the client intimates to the stock broker his/its intention to terminate their relationship by giving a notice in writing of not less than one month.


• ADDITIONAL RIGHTS AND OBLIGATIONS
• 30. The stock broker shall ensure due protection to the client regarding client's rights to dividends, rights or bonus shares, etc. in respect of transactions routed through it and it shall not do anything which is likely to harm the interest of the client with whom and for whom they may have had transactions in securities.
• 31. The stock broker and client shall reconcile and settle their accounts from time to time as per the Rules, Regulations, Bye Laws, Circulars, Notices and Guidelines issued by SEBI and the relevant Exchanges where the trade is executed.
• 32. The stock broker shall issue a contract note to his constituents for trades executed in such format as may be prescribed by the Exchange from time to time containing records of all transactions including details of order number, trade number, trade time, trade price, trade quantity, details of the derivatives contract, client code, brokerage, all charges levied etc. and with all other relevant details as required therein to be filled in and issued in such manner and within such time as prescribed by the Exchange. The stock broker shall send contract notes to the investors within one working day of the execution of the trades in hard copy and/or in electronic form using digital signature.
• 33. The stock broker shall make pay out of funds or delivery of securities, as the case may be, to the Client within one working day of receipt of the payout from the relevant Exchange where the trade is executed unless otherwise specified by the client and subject to such terms and conditions as may be prescribed by the relevant Exchange from time to time where the trade is executed.
• 34. The stock broker shall send a complete 'Statement of Accounts' for both funds and securities in respect of each of its clients in such periodicity and format within such time, as may be prescribed by the relevant Exchange, from time to time, where the trade is executed. The Statement shall also state that the client shall report errors, if any, in the Statement within such time as may be prescribed by the relevant Exchange from time to time where the trade was executed, from the receipt thereof to the Stock broker.
• 35. The stock broker shall send daily margin statements to the clients. Daily Margin statement should include, interalia, details of collateral deposited, collateral utilized and collateral status (available balance/due from client) with break up in terms of cash, Fixed Deposit Receipts (FDRs), Bank Guarantee and securities.
• 36. The Client shall ensure that it has the required legal capacity to, and is authorized to, enter into the relationship with stock broker and is capable of performing his obligations and undertakings hereunder. All actions required to be taken to ensure compliance of all the transactions, which the Client may enter into shall be completed by the Client prior to such transaction being entered into.
• 37. The stock broker / stock broker and depository participant shall not directly / indirectly compel the clients to execute Power of Attorney (PoA) or Demat Debit and Pledge Instruction (DDPI) or deny services to the client if the client refuses to execute PoA or DDPI.


• ECN (Electronic Contract Notes)
• 38. In case, client opts to receive the contract note in electronic form, he shall provide an appropriate e-mail id to the stock broker. The client shall communicate to the stock broker any change in the email-id through a physical letter. If the client has opted for internet trading, the request for change of email id may be made through the secured access by way of client specific user id and password.ELECTRONIC CONTRACT NOTES (ECN)
• 39. The stock broker shall ensure that all ECNs sent through the e-mail shall be digitally signed, encrypted, nontamper able and in compliance with the provisions of the IT Act, 2000. In case, ECN is sent through e-mail as an attachment, the attached file shall also be secured with the digital signature, encrypted and non-tamperable. (4)
• 40. The client shall note that non-receipt of bounced mail notification by the stock broker shall amount to delivery of the contract note at the e-mail ID of the client. The stock broker shall retain ECN and acknow- ledgement of the e-mail in a soft and non-tamperable form in the manner prescribed by the exchange in compliance with the provisions of the IT Act, 2000 and as per the extant rules/regulations/ circulars/ guidelines issued by SEBI/Stock Exchanges from time to time. The proof of delivery i.e., log report generated by the system at the time of sending the contract notes shall be maintained by the stock broker for the specified period under the extant regulations of SEBI/stock exchanges. The log report shall provide the details of the contract notes that are not delivered to the client/e- mails rejected or bounced back. The stock broker shall take all possible steps to ensure receipt of notification of bounced mails by him at all times within the stipulated time period under the extant regulations of SEBI/stock exchanges.
• 1. The stock broker shall continue to send contract notes in the physical mode to such clients who do not opt to receive the contract notes in the electronic form. Wherever the ECNs have not been delivered to the client or has been rejected (bouncing of mails) by the email ID of the client, the stock broker shall send a physical contract note to the client within the stipulated time under the extant regulations of SEBI/stock exchanges and maintain the proof of delivery of such physical contract notes.
• 2. In addition to the e-mail communication of the ECNs to the client, the stock broker shall simultaneously publish the ECN on his designated web-site, if any, in a secured way and enable relevant access to the clients and for this purpose, shall allot a unique user name and password to the client, with an option to the client to save the contract note electronically and/or take a print out of the same.


• LAW AND JURISDICTION
• 3. In addition to the specific rights set out in this document, the stock broker, sub-broker and the client shall be entitled to exercise any other rights which the stock broker or the client may have under the Rules, Bye-laws and Regulations of the Exchanges in which the client chooses to trade and circulars/notices issued thereunder or Rules and Regulations of SEBI.
• 4. The provisions of this document shall always be subject to Government notifications, any rules, regulations, guidelines and circulars/notices issued by SEBI and Rules, Regulations and Bye laws of the relevant stock exchanges, where the trade is executed, that may be in force from time to time.
• 5. The stock broker and the client shall abide by any award passed by the Arbitrator(s) under the Arbitration and Conciliation Act, 1996. However, there is also a provision of appeal within the stock exchanges, if either party is not satisfied with the arbitration award.
• 6. Words and expressions which are used in this document 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 and circulars/notices issued thereunder of the Exchanges/SEBI.
• 7. All additional voluntary clauses/document added by the stock broker should not be in contravention with rules/regulations/notices/ circulars of Exchanges/SEBI. Any changes in such voluntary clauses/document(s) need to be preceded by a notice of 15 days. Any changes in the rights and obligations which are specified by Exchanges/SEBI shall also be brought to the notice of the clients.
• 8. If the rights and obligations of the parties hereto are altered by virtue of change in Rules and regulations of SEBI or Bye-laws, Rules and Regulations of the relevant stock Exchanges where the trade is executed, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this

• CLIENT INFORMATION
• 1. Stock broker is eligible for providing Internet based trading (IBT) and securities trading through the use of wireless technology that shall include the use of devices such as mobile phone, laptop with data card, etc. which use Internet Protocol (IP). The stock broker shall comply with all requirements applicable to internet based trading/securities trading using wireless technology as may be specified by SEBI & the Exchanges from time to time.
• 2. The client is desirous of investing/trading in securities and for this purpose, the client is desirous of using either the internet based trading facility or the facility for securities trading through use of wireless technology. The Stock broker shall provide the Stock broker's IBT Service to the Client, and the Client shall avail of the Stock broker's IBT Service, on and subject to SEBI/Exchanges Provisions and the terms and conditions specified on the Stock broker's IBT Web Site provided that they are in line with the norms prescribed by Exchanges/SEBI.
• 3. The stock broker shall bring to the notice of client the features, risks, responsibilities, obligations and liabilities associated with securities trading through wireless technology/internet/smart order routing or any other technology should be brought to the notice of the client by the stock broker
• 4. The stock broker shall make the client aware that the Stock Broker's IBT system itself generates the initial password and its password policy as stipulated in line with norms prescribed by Exchanges/SEBI.
• 5. The Client shall be responsible for keeping the Username and Password confidential and secure and shall be solely responsible for all orders entered and transactions done by any person whosoever through the Stock broker's IBT System using the Client's Username and/or Password whether or not such person was authorized to do so. Also the client is aware that authentication technologies and strict security measures are required for the internet trading/ securities trading through wireless technology through order routed system and undertakes to ensure that the password of the client and/or his authorized representative are not revealed to any third party including employees and dealers of the stock broker.
• 6. The Client shall immediately notify the Stock broker in writing if he forgets his password, discovers security flaw in Stock Broker's IBT System, discovers/suspects discrepancies/ unauthorized access through his username /password/account with full details of such unauthorized use, the date, the manner and the transactions effected pursuant to such unauthorized use, etc
• 7. The Client is fully aware of and understands the risks associated with availing of a service for routing orders over the internet/securities trading through wireless technology and Client shall be fully liable and responsible for any and all acts done in the Client's Username/ password in any manner whatsoever.
• 8. The stock broker shall send the order/trade confirmation through email to the client at his request. The client is aware that the order/ trade confirmation is also provided on the web portal. In case client is trading using wireless technology, the stock broker shall send the order/trade confirmation on the device of the client.
• 9. The client is aware that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. are susceptible to interruptions and dislocations. The Stock broker and the Exchange do not make any representation or warranty that the Stock broker's IBT Service will be available to the Client at all times without any interruption.
• 10. The Client shall not have any claim against the Exchange or the Stock broker on account of any suspension, interruption, non-availability or malfunctioning of the Stock broker's IBT System or Service or the Exchange's service or systems or non-execution of his orders due to any link/system failure at the Client/Stock brokers/ Exchange end for any reason beyond the control of the stock broker/Exchanges.

• This document contains important information on trading in Equities/Derivatives Segments of the stock exchanges. All prospective constituents should read this document before trading in Equities/Derivatives Segments of the Exchanges.
• Stock exchanges/SEBI does neither singly or jointly and expressly nor impliedly guarantee nor make any representation concerning the completeness, the adequacy or accuracy of this disclosure document nor have Stock exchanges /SEBI endorsed or passed any merits of participating in the trading segments. This brief statement does not disclose 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 relationship into which you are entering and the extent of your exposure to risk.
• You must know and appreciate that trading in Equity shares, derivatives contracts or other instruments traded on the Stock Exchange, which have varying element of risk, is generally not an appropriate avenue for someone of limited 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 Stock exchanges and suffer adverse consequences or loss, you shall be solely responsible for the same and Stock exchanges/its Clearing Corporation 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 stock broker. 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 purchase and/or sale of a derivative contract being traded on Stock exchanges.
• It must be clearly understood by you that your dealings on Stock exchanges through a stock broker shall be subject to your fulfilling certain formalities set out by the stock broker, which may inter alia include your filling the know your client form, reading the rights and obligations, do's and don'ts, etc., and are subject to the Rules, Byelaws and Regulations of relevant Stock exchanges, its Clearing Corporation, guidelines prescribed by SEBI and in force from time to time and Circulars as may be issued by Stock exchanges or its Clearing Corporation and in force from time to time
• Stock exchanges does not provide or purport to provide any advice and shall not be liable to any person who enters into any business relationship with any stock broker of Stock exchanges 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. 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 professional advice on the same.
• In considering whether to trade or authorize someone to trade for you, you should be aware of or must get acquainted with the following:-


• 1. BASIC RISKS:
• 1.1 Risk of Higher Volatility:Volatility refers to the dynamic changes in price that a security/derivatives contract undergoes when trading activity continues on the Stock Exchanges. Generally, higher the volatility of a security/derivatives contract, greater is its price swings. There may be normally greater volatility in thinly traded securities / derivatives contracts than in active securities /derivatives 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 / derivatives 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 liquidity, it is easier for investors to buy and/or sell securities / derivatives contracts swiftly and with minimal price difference, and as a result, investors are more likely to pay or receive a competitive price for securities / derivatives contracts purchased or sold. There may be a risk of lower liquidity in some securities / derivatives contracts as compared to active securities / derivatives 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 or selling securities / derivatives contracts as part of a day trading strategy may also result into losses, because in such a situation, securities / derivatives contracts may have to be sold / purchased at low / high prices, compared to the expected price levels, so as not to have any open position or obligation to deliver or receive a security / derivatives contract.
• 1.3 Risk of Wider Spreads:Spread refers to the difference in best buy price and best sell price. It represents the differential between the price of buying a security / derivatives contract 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 / derivatives contracts. This in turn will hamper better price formation.
• 1.4 Risk-reducing orders:The placing of 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 / derivatives contract.
  • 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 stock / derivatives contract, and such order gets activated if and when the security / derivatives 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 / derivatives contract 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 limit or better. There is no assurance therefore that the limit order will be executable since a security / derivatives contract might penetrate the pre-determined price, in which case, the risk of such order not getting executed arises, just as with a regular limit order.
• 1.5 Risk of News Announcements:News announcements that may impact the price of stock / derivatives contract 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 Rumors:Rumors about companies / currencies 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 rumors.
• 1.7 System Risk:High volume trading will frequently occur at the market opening and before market close. Such high volumes 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 confirmations.
  • 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 / derivatives contract due to any action on account of unusual trading activity or security / derivatives contract hitting circuit filters or for any other reason.
• 1.8 System/Network Congestion:Trading on exchanges is in electronic mode, based on satellite/leased line based communications, 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 problem/glitch whereby not being able to establish access to the trading system/network, which may be beyond control and may result in delay in processing or not processing 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.


• 2. AS FAR AS DERIVATIVES SEGMENTS ARE CONCERNED, PLEASE NOTE AND GET YOURSELF ACQUAINTED WITH THE FOLLOWING ADDITIONAL FEATURES:-
• 2.1 Effect of "Leverage" or "Gearing": In the derivatives market, the amount of margin is small relative to the value of the derivatives contract so the transactions are 'leveraged' or 'geared'. Derivatives trading, which is conducted with a relatively small amount of margin, provides the possibility of great profit or loss in comparison with the margin amount. But transactions in derivatives carry a high degree of risk.
  • You should therefore completely understand the following statements before actually trading in derivatives 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 amount in a relatively short period of time. Moreover, the loss may exceed the original margin amount.
  • A. Futures trading involve daily settlement of all positions. Every day the open positions are marked to market based on the closing level of the index / derivatives contract. If the contract has moved against you, you will be required to deposit the amount of loss (notional) resulting from such movement. This amount will have to be paid within a stipulated time frame, generally before commencement of trading on next day.
  • B. If you fail to deposit the additional amount by the deadline or if an outstanding debt occurs in your account, the stock broker 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 transactions. For example, this situation can occur due to factors such as illiquidity i.e. when there are insufficient 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 derivatives contracts you plan to trade i.e. the contract specifications and the associated obligations.
• 2.2 Currency specific risks:
  • 1. The profit or loss in transactions in foreign currencydenominated 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. 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 bands are widened.
  • 3.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 bands are widened.
• 2.3 Risk of Option holders:
• 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 worthless 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 his investment in the option.
• 2. The Exchanges may impose exercise restrictions and have absolute authority to restrict the exercise of options at certain times in specified circumstances.
• 2.4 Risks of Option Writers:
• 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. 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 necessarily less risky than a simple 'long' or 'short' position.
• 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 buying 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 combination strategies should not be considered, it is advisable, as is the case with all investments in options, to consult with someone who is experienced and knowledgeable with respect to the risks and potential rewards of combination transactions under various market circumstances.


• 3. TRADING THROUGH WIRELESS TECHNOLOGY / SMART ORDER ROUTING OR ANY OTHER TECHNOLOGY:
• TAny additional provisions defining the features, risks, responsibilities, obligations and liabilities associated with securities trading through wireless technology/ smart order routing or any other technology should be brought to the notice of the client by the stock broker.


• 4. GENERAL:
• 4.1 The term 'constituent' shall mean and include a client, a customer or an investor, who deals with a stock broker for the purpose of acquiring and/or selling of securities / derivatives contracts through the mechanism provided by the Exchanges.
• 4.2 The term 'stock broker' shall mean and include a stock broker, a broker or a stock broker, who has been admitted as such by the Exchanges and who holds a registration certificate from SEBI.

• BEFORE YOU BEGIN TO TRADE
• 1. Ensure that you deal with and through only SEBI registered intermediaries. You may check their SEBI registration certificate number from the list available on the Stock exchanges websites (www.nseindia.com, www.bseindia.com, www.msei.in) and SEBI website www.sebi.gov.in.
• 2. Ensure that you fill the KYC form completely and strike off the blank fields in the KYC form.
• 3. Ensure that you have read all the mandatory documents viz. Rights and Obligations, Risk Disclosure Document, Policy and Procedure document of the stock broker.
• 4. Ensure to read, understand and then sign the voluntary clauses, if any, agreed between you and the stock broker. Note that the clauses as agreed between you and the stock broker cannot be changed without your consent.
• 5.Get a clear idea about all brokerage, commissions, fees and other charges levied by the broker on you for trading and the relevant provisions/ guidelines specified by SEBI/Stock exchanges.
• 6. Obtain a copy of all the documents executed by you from the stock broker free of charge.
• 7. In case you wish to execute Power of Attorney (POA) in favour of the Stock broker, authorizing it to operate your bank and demat account, please refer to the guidelines issued by SEBI/Exchanges in this regard.


• TRANSACTIONS AND SETTLEMENTS
• 8. The stock broker may issue electronic contract notes (ECN) if specifically authorized by you in writing. You should provide your email id to the stock broker for the same. Don’t opt for ECN if you are not familiar with computers.
• 9. Don’t share your internet trading account’s password with anyone.
• 10. Don’t make any payment in cash to the stock broker.
• 11. Make the payments by account payee cheque in favour of the stock broker. Don’t issue cheques in the name of sub-broker. Ensure that you have a documentary proof of your payment/deposit of securities with the stock broker, stating date, scrip, quantity, towards which bank/ demat account such money or securities deposited and from which bank/ demat account.
• 12. Note that facility of Trade Verification is available on stock exchanges’ websites, where details of trade as mentioned in the contract note may be verified. 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 the relevant Stock exchange.
• 13. In case you have given specific authorization for maintaining running account, payout of funds or delivery of securities (as the case may be), may not be made to you within one working day from the receipt of payout from the Exchange. Thus, the stock broker shall maintain running account for you subject to the following conditions:
• a) Such authorization from you shall be dated, signed by you only and contains the clause that you may revoke the same at any time.
• b) The actual settlement of funds and securities shall be done by the stock broker, at least once in a calendar quarter or month, depending on your preference. While settling the account, the stock broker shall send to you a ‘statement of accounts’ containing an extract from the client ledger for funds and an extract from the register of securities displaying all the receipts/deliveries of funds and securities. The statement shall also explain the retention of funds and securities and the details of the pledged shares, if any.
• c) On the date of settlement, the stock broker may retain the requisite securities/funds towards outstanding obligations and may also retain the funds expected to be required to meet derivatives margin obligations for next 5 trading days, calculated in the manner specified by the exchanges. In respect of cash market transactions, the stock broker may retain entire pay-in obligation of funds and securities due from clients as on date of settlement and for next day’s business, he may retain funds/securities/margin to the extent of value of transactions executed on the day of such settlement in the cash market.
• d) You need to bring any dispute arising from the statement of account or settlement so made to the notice of the stock broker in writing preferably within 7 (seven) working days from the date of receipt of funds/securities or statement, as the case may be. In case of dispute, refer the matter in writing to the Investors Grievance Cell of the relevant Stock exchanges without delay.
• 14. In case you have not opted for maintaining running account and pay-out of funds/securities is not received on the next working day of the receipt of payout from the exchanges, please refer the matter to the stock broker. In case there is dispute, ensure that you lodge a complaint in writing immediately with the Investors Grievance Cell of the relevant Stock exchange
• 15. Please register your mobile number and email id with the stock broker, to receive trade confirmation alerts/ details of the transactions through SMS or email, by the end of the trading day, from the stock exchanges.


• IN CASE OF TERMINATION OF TRADING MEMBERSHIP
• 16. In case, a stock broker surrenders his membership, is expelled from membership or declared a defaulter; Stock exchanges gives a public notice inviting claims relating to only the "transactions executed on the trading system" of Stock exchange, from the investors. Ensure that you lodge a claim with the relevant Stock exchanges within the stipulated period and with the supporting documents.
• 17. Familiarize yourself with the protection accorded to the money and/or securities you may deposit with your stock broker, particularly in the event of a default or the stock broker’s insolvency or bankruptcy and the extent to which you may recover such money and/or securities may be governed by the Bye-laws and Regulations of the relevant Stock exchange where the trade was executed and the scheme of the Investors’ Protection Fund in force from time to time.


• DISPUTES / COMPLAINTS
• 18. Please note that the details of the arbitration proceedings, penal action against the brokers and investor complaints against the stock brokers are displayed on the website of the relevant Stock exchange.
• 19. In case your issue/problem/grievance is not being sorted out by concerned stock broker/sub-broker then you may take up the matter with the concerned Stock exchange. If you are not satisfied with the resolution of your complaint then you can escalate the matter to SEBI.
• 20. Note that all the stock broker/sub-brokers have been mandated by SEBI to designate an e-mail ID of the grievance redressal division/ compliance officer exclusively for the purpose of registering complaints.

• 1. Refusal of orders for penny/illiquid stock
• The stock broker may from time to time limit (quantity/ value)/refuse orders in one or more securities due to various reasons including market liquidity, value of security(ies), the order being for securities which are not in the permitted list of the stock broker/ exchange(s)/SEBI. Provided further that stock broker may require compulsory settlement/advance payment of expected settlement value/ delivery of securities for settlement prior to acceptance/placement of order(s) as well. The client agrees that the losses, if any on account of such refusal or due to delay caused by such limits, shall be borne exclusively by the client alone. The stock broker may require reconfirmation of orders, which are larger than that specified by the stock broker's risk management, and is also aware that the stock broker has the discretion to reject the execution of such orders based on its risk perception.
• 2. Setting up client's exposure limits and conditions under which a client may not be allowed to take further position or the broker may close the existing position of a client.
• The stock broker may from time to time impose and vary limits on the orders that the client can place through the stock broker's trading system (including exposure limits, turnover limits, limits as to the number, value and/or kind of securities in respect of which orders can be placed etc.). The client is aware and agrees that the stock broker may need to vary or reduce the limits or impose new limits urgently on the basis of the stock broker's risk perception and other factors considered relevant by the stock broker including but not limited to limits on account of exchange/ SEBI directions/limits ( such as broker level/ market level limits in security specific/volume specific exposures etc.) , and the stock broker may be unable to inform the client of such variation, reduction or imposition in advance. The client agrees that the stock broker shall not be responsible for such variation, reduction or imposition or the client's inability to route any order through the stock broker's trading system on account of any such variation, reduction or imposition of limits. The client further agrees that the stock broker may at any time, at its sole discretion and without prior notice, prohibit or restrict the client's ability to place orders or trade in securities through the stock broker, or it may subject any order placed by the client to a review before its entry into the trading systems and may refuse to execute/allow execution of orders due to but not limited to the reason of lack of margin/securities or the order being outside the limits set by stock broker/exchange/ SEBI and any other reasons which the stock broker may deem appropriate in the circumstances. The client agrees that the losses, if any on account of such refusal or due to delay caused by such review, shall be borne exclusively by the client alone.
• The stock broker is required only to communicate/ advise the parameters for the calculation of the margin/security requirements as rate(s)/percentage(s) of the dealings, through anyone or more means or methods such as post /speed post/courier/registered post/registered A.D/ facsimile/telegram/cable/email/voice mails/ telephone (telephone includes such devices as mobile phones etc.) including SMS on the mobile phone or any other similar device; by messaging on the computer screen of the client's computer; by informing the client through employees/agents of the stock broker; by publishing/displaying it on the website of the stock broker/making it available as a download from the website of the stock broker; by displaying it on the notice board of the branch/office through which the client trades or if the circumstances, so require, by radio broadcast/ television broadcast/ newspapers advertisements etc; or any other suitable or applicable mode or manner. The client agrees that the postal department/the courier company /newspaper company and the e-mail/voice mail service provider and such other service providers shall be the agent of the client and the delivery shall be complete when communication is given to the postal department/the courier company/the e-mail/voice mail service provider, etc. by the stock broker and the client agrees never to challenge the same on any grounds including delayed receipt/non receipt or any other reasons whatsoever and once parameters for margin/security requirements are so communicated, the client shall monitor his/her/its position (dealings/trades and valuation of security) on his/her/its own and provide the required/deficit margin/security forthwith as required from time to time whether or not any margin call or such other separate communication to that effect is sent by the stock broker to the client and /or whether or not such communication is received by the client.
• The client is not entitled to trade without adequate margin/security and that it shall be his/her/its responsibility to ascertain beforehand the margin/security requirements for his/ her /its orders/trades/deals and to ensure that the required margin/security is made available to the stock broker in such form and manner as may be required by the stock broker. If the client's order is executed despite a shortfall in the available margin, the client, shall, whether or not the stock broker intimates such shortfall in the margin to the client, make up the shortfall suo moto immediately
• The client further agrees that he /she/it shall be responsible for all orders (including any orders that may be executed without the required margin in the client's account) &/or any claim /loss/ damage arising out of the non availability /shortage of margin /security required by the stock broker &/or exchange &/or SEBI.
• The stock broker is entitled to vary the form (Le., the replacement of the margin/security in one form with the margin/security in any other form, say, in the form of money instead of shares) &/or quantum &/or percentage of the margin &/or security required to be deposited/made available, from time to time.
• The margin/security deposited by the client with the stock broker are not eligible for any interest.
• The stock broker is entitled to include/appropriate any/all payout of funds &/or securities towards margin/ security without requiring specific authorizations for each payout.
• The stock broker is entitled to transfer funds &/ or securities from his account for one exchange &/or one segment of the exchange to his/her/its account for another exchange &/or another segment of the same exchange whenever applicable and found necessary by the stock broker.
• The client also agrees and authorises the stock broker to treat/adjust his/ her/its margin/security lying in one exchange &/or one segment of the exchange/towards the margin/security/pay in requirements of another exchange &/or another segment of the exchange
• The stock broker is entitled to disable/freeze the account &/or trading facility/any other service. facility, if, in the opinion of the stock broker, the client has committed a crime/fraud or has acted in contradiction of this agreement or/is likely to evade/violate any laws, rules, regulations, directions of a lawful authority whether Indian or foreign or if the stock broker so apprehends.
• 3. Applicable brokerage rate
• The stock broker is entitled to charge brokerage within the limits imposed by exchange which at present is as under:
• • For Cash Market Segment: The maximum brokerage chargeable in relation to trades effected in the securities admitted to dealings on the Capital Market segment of the Exchange shall be 2.5 % of the contract price exclusive of statutory levies. It is hereby further clarified that where the sale/purchase value of a share is Rs.10/ - or less, a maximum brokerage of 25 paise per share may be collected.
• • For Option contracts: Brokerage for option contracts shall be charged on the premium amount at which the option contract was bought or sold and not on the strike price of the option contract. It is hereby clarified that brokerage charged on options contracts shall not exceed 2.5% of the premium amount or Rs 100/- (per lot) whichever is higher.
• 4. Imposition of penalty/delayed payment charges
• The client agrees that any amounts which are overdue from the client towards trading or on account of any other reason to the stock broker will be charged with delayed payment charges @1.5% per month. The client agrees that the stock broker may impose fines/penalties for any orders/trades/deals/actions of the client which are contrary to this agreement/rules/ regulations/bye laws of the exchange or any other law for the time being in force, at such rates and in such form as it may deem fit. Further where the stock broker has to pay any fine or bear any punishment from any authority in connection with/as a consequence of/in relation to any of the orders/trades/deals/actions of the client, the same shall be borne by the client. The client agrees to pay to the stock broker brokerage, commission, fees, all taxes, duties, levies imposed by any authority including but not limited to the stock exchanges (including any amount due on account of reassessment/backlogs etc.), transaction expenses, incidental expenses such as postage, courier etc. as they apply from time to time to the client's account/ transactions/services that the client avails from the stock broker.
• 5. The right to sell clients' securities or close clients' positions, without giving notice to the client, on account\ of non-payment of client's dues
• The stock broker maintains centralized banking and securities handling processes and related banking and depository accounts at designated place. The client shall ensure timely availability of funds/securities in designated form and manner at designated time and in designated bank and depository account(s) at designated place, for meeting his/her/its pay in obligation of funds and securities. The stock broker shall not be responsible for any claim/loss/damage arising out of non availability/short availability of funds/securities by the client in the designated account(s) of the stock broker for meeting the pay in obligation of either funds or securities. If the client gives orders/trades in the anticipation of the required securities being available subsequently for pay in through anticipated payout from the exchange or through borrowings or any off market delivery(s) or market delivery(s) and if such anticipated availability does not materialize in actual availability of securities/funds for pay in for any reason whatsoever including but not limited to any delays/shortages at the exchange or stock broker level/non release of margin by the stock broker etc., the losses which may occur to the client as a consequence of such shortages in any manner such as on account of auctions/square off/closing outs etc., shall be solely to the account of the client and the client agrees not to hold the stock broker responsible for the same in any form or manner whatsoever.
• In case the payment of the margin/security is made by the client through a bank instrument, the stock broker shall be at liberty to give the benefit/credit for the same only on the realization of the funds from the said bank instrument etc. at the absolute discretion of the stock broker.
• Where the margin /security is made available by way of securities or any other property, the stock broker is empowered to decline its acceptance as margin/security &/or to accept it at such reduced value as the stock broker may deem fit by applying haircuts or by valuing it by marking it to market or by any other method as the stock broker may deem fit in its absolute discretion.
• The stock broker has the right but not the obligation, to cancel all pending orders and to sell/close/liquidate all open positions/ securities/shares at the pre-defined square off time or when Mark to Market (M-T-M)percentage reaches or crosses stipulated margin percentage mentioned on the website, whichever is earlier. The stock broker will have sole discretion to decide referred stipulated margin percentage depending upon the market condition. In the event of such square off, the client agrees to bear all the losses based on actual executed prices. In case open position (Le. short/long) gets converted into delivery due to non square off because of any reason whatsoever, the client agrees to provide securities/funds to fulfill the payin obligation failing which the client will have to face auctions or internal close outs; in addition to this the client will have to pay penalties and charges levied by exchange in actual and losses, if any. Without prejudice to the foregoing, the client shall also be solely liable for all and any penalties and charges levied by the exchange(s).
• The stock broker is entitled to prescribe the date and time by which the margin/security is to be made available and the stock broker may refuse to accept any payments in any form after such deadline for margin/security expires.
• Not with standing anything to the contrary in the agreement or elsewhere, if the client fails to maintain or provide the required margin/fund/security or to meet the funds/margins/ securities pay in obligations for the orders/trades/deals of the client within the prescribed time and form, the stock broker shall have the right without any further notice or communication to the client to take any one or more of the following steps:
• Stock broker shall not be obliged to deliver any securities or pay any money to the client unless and until the same has been received by the stock broker from the exchange, the clearing corporation/ clearing house or other company or entity liable to make the payment cancel all pending orders and to sell/close/liquidate all open positions/ securities/shares at the pre-defined square off time or when Mark to Market (M-T-M) and the client has fulfilled his/her/ its obligations first. The policy and procedure for settlement of shortages in obligations arising out of internal netting of trades is as under:
• i. To withhold any payout of funds/securities
• ii. To withhold/disable the trading/dealing facility to the client.
• iii. To liquidate one or more security(s) of the client by selling the same in such manner and at such rate which the stock broker may deem fit in its absolute discretion. It is agreed and understood by the client that securities here includes securities which are pending delivery/receipt.
• iv. To liquidate/square off partially or fully the position of sale &/or purchase in anyone or more securities/contracts in such manner and at such rate which the stock broker may decide in its absolute discretion.
• v. To take any other steps which in the given circumstances, the stock broker may deem fit. The client agrees that the loss(s) if any, on account of anyone or more steps as enumerated herein above being taken by the stock broker, shall be borne exclusively by the client alone and agrees not to question the reasonableness, requirements, timing, manner, form, pricing etc., which are chosen by the stock broker.
• vi. All open positions in the F&O segment (except for those who have opted for physical settlement) should be squared off before 10 am on expiry day. Stock Broker will square off all the open positions from 10 am onwards on expiry day for all open positions (in stock derivatives) for that expiry Irrespective of the margin availability.
• vii. In case of price moment >80% of circuit limit, open positions will be squared off in case of adverse MTM for that security . E.g., in case of circuit limit being 20%, for any 16% up moments, all short position will be squared off.
• • In case of positions cannot squared off due to lack of liquidity, the trade will result in delivery trade and will be settled accordingly.
• • In case of non squared off short positions, 30 % (or above) extra margin will be blocked till auction settlement is complete.
• • In case of non square off long positions, client need to pay the balance amount to the extent of entire obligation on T day only. We will initiate square off non-paid up obligations on T+1 day from start of market hours.
• 6. Shortages in obligations arising out of internal netting of trades
• Stock broker shall not be obliged to deliver any securities or pay any money to the client unless and until the same has been received by the stock broker from the exchange, the clearing corporation/ clearing house or other company or entity liable to make the payment cancel all pending orders and to sell/close/liquidate all open positions/ securities/shares at the pre-defined square off time or when Mark to Market (M-T-M) and the client has fulfilled his/her/ its obligations first. The policy and procedure for settlement of shortages in obligations arising out of internal netting of trades is as under:
• The securities delivered short are purchased from market on T+3 day which is the Auction Day on Exchange, and the purchase consideration (inclusive of all statutory taxes & levies) is debited to the short delivering seller client.
• If securities cannot be purchased from market due to any reason whatsoever on T+3 day they can be covered from the market on any subsequent trading days. In case any reason whatsoever (any error or omission) any delay in covering of securities leads to higher losses, stock broker will not be liable for the same. Where the delivery is matched partially or fully at the Exchange Clearing, the delivery and debits/credits shall be as per Exchange Debits and Credits.
• In cases of securities having corporate actions all cases of short delivery of cum transactions which cannot be auctioned on cum basis or where the cum basis auction payout is after the book closure/record date, would be compulsory closed out at higher of 10% above the official closing price on the auction day or the highest traded price from first trading day of the settlement till the auction day
• 7. Conditions under which a client may not be allowed to take further position or the broker may close the existing position of a client.
• We have margin based RMS System. Client may take exposure upto the amount of margin available with us. Client may not be allowed to take position in case of non-availability/ shortage of margin as per our RMS policy of the company. The existing position of the client is also liable to square off/ close out without giving notice due to shortage of margin/non making of payment for their pay-in obligation/outstanding debts.
• 8.De-registering a client
• Not with standing anything to the contrary stated in the agreement, the stock broker shall be entitled to terminate the agreement with immediate effect in any of the following circumstances:
• i. If the action of the Client are prima facie illegal/ improper or such as to manipulate the price of any securities or disturb the normal/ proper functioning of the market, either alone or in conjunction with others
• ii. If there is any commencement of a legal process against the Client under any law in force;
• iii. On the death/lunacy or other disability of the Client;
• iv. If a receiver, administrator or liquidator has been appointed or allowed to be appointed of all or any part of the undertaking of the Client;
• v. If the Client has voluntarily or compulsorily become the subject of proceedings under any bankruptcy or insolvency law or being a company, goes into liquidation or has a receiver appointed in respect of its assets or refers itself to the Board for Industrial and Financial Reconstruction or under any other law providing protection as a relief undertaking;
• vi. If the Client being a partnership firm, has any steps taken by the Client and/ or its partners for dissolution of the partnership;
• vii. If the Client have taken or suffered to be taken any action for its reorganization, liquidation or dissolution;
• viii. If the Client has made any material misrepresentation of facts, including (without limitation) in relation to the Security;
• ix. If there is reasonable apprehension that the Client is unable to pay its debts or the Client has admitted its inability to pay its debts, as they become payable;
• x. If the Client suffers any adverse material change in his/her/its financial position or defaults in any other agreement with the Stock broker; If the Client is in breach of any term, condition or covenant of this Agreement;
• xi. If any covenant or warranty of the Client is incorrect or untrue in any material respect; However notwithstanding any termination of the agreement, all transactions made under/pursuant to this agreement shall be subject to all the terms and conditions of this agreement and parties to this agreement submit to exclusive jurisdiction of courts of law at the place of execution of this agreement by Stock Broker.
• 9. Policy regarding treatment of inactive accounts:
• Client account will be considered as in active if the client does not trade for a period of one year. Calculation will be done at the beginning of every month and those clients who have not traded even a single time will be considered as inactive. Steps will be taken for transferring the shares/credit balance, if any, to such client within one week of identifying the client as inactive. Whenever such inactive account holders restart trading, a telephonic/personal confirmation will be made from the client to ensure that there is no error in identification the client.
• 10. Client Acceptance of Policies and Procedures stated hereinabove:
• I/We have fully understood the same and do hereby sign the same and agree not to call into question the validity, enforceability and applicability of any provision/clauses this document any circumstances what so ever. These Policies and Procedures may be amended/changed unilaterally by the broker, provided the change is informed to me/us with through anyone or more means or methods such as post/speed post/courier/registered post/registered AD/facsimile/telegram/cable/e-mail/voice mails/telephone (telephone includes such devices as mobile phones etc.) including SMS on the mobile phone or any other similar device; by messaging on the computer screen of the client's computer; by informing the client through employees/agents of the stock broker; by publishing/displaying it on the website of the stock broker/making it available as a download from the website of the stock broker; by displaying it on the notice board of the branch/office through which the client trades or if the circumstances, so require, by radio broadcast/television broadcast/newspapers advertisements etc; or any other suitable or applicable mode or manner. I/we agree that the postal department/the courier company /newspaper company and the e-mail/ voice mail service provider and such other service providers shall be my/our agent and the delivery shall be complete when communication is given to the postal department/the courier company/the e-mail/voice mail service provider, etc. by the stock broker and I/we agree never to challenge the same on any grounds including delayed receipt/non receipt or any other reasons whatsoever. These Policies and Procedures shall always be read along with the agreement and shall be compulsorily referred to while deciding any dispute/difference or claim between me/ us and stock broker before any court of law/judicial/adjudicating authority including arbitrator/ mediator etc.

• Demat Debit and Pledge Instruction (DDPI) Clauses:
• The Beneficial Owner (BO) may execute a Demat Debit and Pledge Instruction (DDPI) in favour of the Depository Participant (DP) / Stock Broker for the limited purpose of:
• 1. Transfer of securities held in the demat account towards settlement of trades executed by the BO on the Stock Exchange.Pledging / re-pledging of securities in favour of Clearing Corporation for the purpose of margin requirements.
• 2. The execution of DDPI shall be voluntary. The BO shall have the option to execute DDPI or provide separate Delivery Instruction Slips (DIS) for each transaction.
• 3. The DDPI shall be duly signed by all holders in case of joint accounts.
• 4. The DP shall ensure proper registration of DDPI in the system and maintain records as per regulatory requirements.
• 5. All debits carried out under DDPI shall be duly intimated to the BO through SMS / email alerts.
• 6. The BO retains the right to revoke or cancel the DDPI at any time by giving written notice to the DP.


• General Clause
• 1. The Beneficial Owner and the Depository participant (DP) shall be bound by the provisions of the Depositories Act, 1996, SEBI (Depositories and Participants) Regulations, 1996, Rules and Regulations of Securities and Exchange Board of India (SEBI), Circulars/Notifications/Guidelines issued there under, Bye Laws and Business Rules/Operating Instructions issued by the Depositories and relevant notifications of Government Authorities as may be in force from time to time.
• 2. The DP shall open/activate demat account of a beneficial owner in the depository system only after receipt of complete Account opening form, KYC and supporting documents as specified by SEBI from time to time.


• Beneficial Owner information
• 3. The DP shall maintain all the details of the beneficial owner(s) as mentioned in the account opening form, supporting documents submitted by them and/or any other information pertaining to the beneficial owner confidentially and shall not disclose the same to any person except as required by any statutory, legal or regulatory authority in this regard.
• 4. The Beneficial Owner shall immediately notify the DP in writing, if there is any change in details provided in the account opening form as submitted to the DP at the time of opening the demat account or furnished to the DP from time to time.


• Fees/Charges/Tariff
• 5. The Beneficial Owner shall pay such charges to the DP for the purpose of holding and transfer of securities in dematerialized form and for availing depository services as may be agreed to from time to time between the DP and the Beneficial Owner as set out in the Tariff Sheet provided by the DP. It may be informed to the Beneficial Owner that "no charges are payable for opening of demat accounts”
• 6. In case of Basic Services Demat Accounts, the DP shall adhere to the charge structure as laid down under the relevant SEBI and/or Depository circulars/directions/ notifications issued from time to time.
• 7. The DP shall not increase any charges/tariff agreed upon unless it has given a notice in writing of not less than thirty days to the Beneficial Owner regarding the same.


• Dematerialization
• 8. The Beneficial Owner shall have the right to get the securities, which have been admitted on the Depositories, dematerialized in the form and manner laid down under the Bye Laws, Business Rules and Operating Instructions of the depositories.


• Separate Accounts
• 9. The DP shall open separate accounts in the name of each of the beneficial owners and securities of each beneficial owner shall be segregated and shall not be mixed up with the securities of other beneficial owners and/or DP's own securities held in dematerialized form.
• 10. The DP shall not facilitate the Beneficial Owner to create or permit any pledge and /or hypothecation or any other interest or encumbrance over all or any of such securities submitted for dematerialization and/or held in demat account except in the form and manner prescribed in the Depositories Act, 1996, SEBI (Depositories and Participants) Regulations, 1996 and Bye-Laws/Operating Instructions/ Business Rules of the Depositories


• Transfer of Securities
• 11. The DP shall effect transfer to and from the demat accounts of the Beneficial Owner only on the basis of an order, instruction, direction or mandate duly authorized by the Beneficial Owner and the DP shall maintain the original documents and the audit trail of such authorizations.
• 12. The Beneficial Owner reserves the right to give standing instructions with regard to the crediting of securities in his demat account and the DP shall act according to such instructions.
• 13. The stock broker / stock broker and depository participant shall not directly / indirectly compel the clients to execute Power of Attorney (PoA) or Demat Debit and Pledge Instruction (DDPI) or deny services to the client if the client refuses to execute PoA or DDPI.


• Statement of account
• 14. The DP shall provide statements of accounts to the beneficial owner in such form and manner and at such time as agreed with the Beneficial Owner and as specified by SEBI/depository in this regard.
• 15. However, if there is no transaction in the demat account, or if the balance has become Nil during the year, the DP shall send one physical statement of holding annually to such BOs and shall resume sending the transaction statement as and when there is a transaction in the account
• 16. The DP may provide the services of issuing the statement of demat accounts in an electronic mode if the Beneficial Owner so desires. The DP will furnish to the Beneficial Owner the statement of demat accounts under its digital signature, as governed under the Information Technology Act, 2000. However if the DP does not have the facility of providing the statement of demat account in the electronic mode, then the Participant shall be obliged to forward the statement of demat accounts in physical form.
• 17. In case of Basic Services Demat Accounts, the DP shall send the transaction statements as mandated by SEBI and/or Depository from time to time


• Manner of Closure of Demat account
• 18. The DP shall have the right to close the demat account of the Beneficial Owner, for any reasons whatsoever, provided the DP has given a notice in writing of not less than thirty days to the Beneficial Owner as well as to the Depository. Similarly, the Beneficial Owner shall have the right to close his/her demat account held with the DP provided no charges are payable by him/her to the DP. In such an event, the Beneficial Owner shall specify whether the balances in their demat account should be transferred to another demat account of the Beneficial Owner held with another DP or to rematerialize the security balances held.
• 19. Based on the instructions of the Beneficial Owner, the DP shall initiate the procedure for transferring such security balances or rematerialize such security balances within a period of thirty days as per procedure specified from time to time by the depository. Provided further, closure of demat account shall not affect the rights, liabilities and obligations of either the Beneficial Owner or the DP and shall continue to bind the parties to their satisfactory completion


• Default in payment of charges
• 20. In event of Beneficial Owner committing a default in the payment of any amount provided in Clause 5 & 6 within a period of thirty days from the date of demand, without prejudice to the right of the DP to close the demat account of the Beneficial Owner, the DP may charge interest at a rate as specified by the Depository from time to time for the period of such default.
• 21. In case the Beneficial Owner has failed to make the payment of any of the amounts as provided in Clause 5&6 specified above, the DP after giving two days notice to the Beneficial Owner shall have the right to stop processing of instructions of the Beneficial Owner till such time he makes the payment along with interest,


• Liability of the Depository
• 22. As per Section 16 of Depositories Act, 1996:
• Without prejudice to the provisions of any other law for the time being in force, any loss caused to the beneficial owner due to the negligence of the depository or the participant, the depository shall indemnify such beneficial owner
• Where the loss due to the negligence of the participant under Clause (1) above, is indemnified by the depository, the depository shall have the right to recover the same from such participant.


• Freezing/ Defreezing of accounts
• 23. The Beneficial Owner may exercise the right to freeze/defreeze his/her demat account maintained with the DP in accordance with the procedure and subject to the restrictions laid down under the Bye Laws and Business Rules/Operating Instructions
• 24. The DP or the Depository shall have the right to freeze/defreeze the accounts of the Beneficial Owners on receipt of instructions received from any regulator or court or any statutory authority.


• Redressal of Investor grievance
• 25. The DP shall redress all grievances of the Beneficial Owner against the DP within a period of thirty days from the date of receipt of the complaint.


• Authorized representative
• 26. If the Beneficial Owner is a body corporate or a legal entity, it shall, along with the account opening form, furnish to the DP, a list of officials authorized by it, who shall represent and interact on its behalf with the Participant. Any change in such list including additions, deletions or alterations thereto shall be forthwith communicated to the Participant.


• Law and Jurisdiction
• 27. In addition to the specific rights set out in this document, the DP and the Beneficial owner shall be entitled to exercise any other rights which the DP or the Beneficial Owner may have under the Rules, Bye Laws and Regulations of the respective Depository in which the demat account is opened and circulars/notices issued there under or Rules and Regulations of SEBI.
• 28. The provisions of this document shall always be subject to Government notification, any rules, regulations, guidelines and circulars/ notices issued by SEBI and Rules, Regulations and Bye-laws of the relevant Depository, where the Beneficial Owner maintains his/ her account, that may be in force from time to time.
• 29. The Beneficial Owner and the DP shall abide by the arbitration and conciliation procedure prescribed under the Bye-laws of the depository and that such procedure shall be applicable to any disputes between the DP and the Beneficial Owner.
• 30. Words and expressions which are used in this document but which are not defined herein shall unless the context otherwise requires, have the same meanings as assigned thereto in the Rules, Bye-laws and Regulations and circulars/notices issued there under by the depository and/or SEBI
• 31. Any changes in the rights and obligations which are specified by SEBI/Depositories shall also be brought to the notice of the clients at once
• 32. If the rights and obligations of the parties hereto are altered by virtue of change in Rules and regulations of SEBI or Bye-laws, Rules and Regulations of the relevant Depository, where the Beneficial Owner maintains his/her account, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this document.


• Terms and Conditions-cum-Registration /Modification From for receiveing SMS Alerts from CDSL
• [SMS Alerts will be send by CDSL to BOs for all debits]
• Definitions:
• In these Terms and Conditions the terms shall have the following meaning unless indicated otherwise:
• 1. "Depository" means Central Depository Services (India) Limited, a company incorporated in India under the Companies Act 1956 and having its registered office at 17th Floor, P.J. Towers, Dalal Street, Fort, Mumbai 400001 and all its branch offices and includes its successors and assigns.
• 2. "DP" means Depository Participant of CDSL. The term covers all types of DPs who are allowed to open demat accounts for investors.
• 3. "BO" means an entity that has opened a demat account with the depository. The term covers all types of demat accounts, which can be opened with a depository as specified by the depository from time to time.
• 4. SMS means "Short Messaging Service."
• 5. "Alerts" means a customized SMS sent to the BO over the said mobile phone number.
• 6. "Service Provider" means a cellular service provider(s) with whom the depository has entered / will be entering into an arrangement for providing the SMS alerts to the BO.
• 7. "Service" means the service of providing SMS alerts to the BO on a best-effort basis as per these terms and conditions.


• Availability:
• 1. The service will be provided to the BO at his/her request and at the discretion of the depository. The service will be available to those accountholders who have provided their mobile numbers to the depository through their DP. The services may be discontinued for a specific period / indefinite period, with or without issuing any prior notice for security reasons, system maintenance, or such other reasons as may be warranted. The depository may also discontinue the service at any time without giving prior notice for any reason whatsoever.
• 2. The service is currently available to the BOs who are residing in India.
• 3. The alerts will be provided to the BOs only if they remain within the range of the service provider's service area or within the range forming part of the roaming network of the service provider.
• 4. In case of joint accounts and non-individual accounts, the service will be available only to one mobile number, i.e., the mobile number submitted at the time of registration/modification.
• 5. The BO is responsible for promptly intimating to the depository in the prescribed manner any change in mobile number or loss of handset on which the BO wants to receive the alerts from the depository. In case of change in mobile number not intimated to the depository, the SMS alerts will continue to be sent to the last registered mobile phone number. The BO agrees to indemnify the depository for any loss or damage suffered by it on account of SMS alerts sent to such mobile number.


• Receiving Alerts:
• 1. The depository shall send the alerts to the mobile phone number provided by the BO while registering for the service or to any such number replaced and informed by the BO from time to time. Upon such registration/change, the depository shall make every effort to update the change in mobile number within a reasonable period of time. The depository shall not be responsible for any delay or loss of message in this regard.
• 2. The BO acknowledges that the alerts will be received only if the mobile phone is in "ON" mode and capable of receiving SMS. If the mobile phone is in "OFF" mode (i.e., unable to receive alerts), the BO may not get or may receive delayed alerts during such a period.
• 3. The BO also acknowledges that the readability, accuracy, and timeliness of the service depend on factors like infrastructure and connectivity of the service provider. The depository shall not be responsible for any non-delivery, delayed delivery, or distortion of the alerts in any way whatsoever.
• 4. The BO further acknowledges that the service provided is an additional facility for convenience and is susceptible to error, omission, or inaccuracy. In case of any error in the alert, the BO shall inform the depository or DP immediately in writing. The depository will make best efforts to rectify the error promptly. The BO shall not hold the depository liable for any loss or damages incurred due to opting for SMS alerts.
• 5. The BO authorizes the depository to send promotional, greeting, or any other message deemed appropriate. The BO also agrees to the use of name, email address, and mobile number for marketing offers between CDSL and other entities.
• 6. The BO agrees to inform the depository and DP in writing about any unauthorized debit to their BO account or unauthorized transfer of securities from their BO account immediately upon becoming aware of it. The BO may email CDSL at complaints@cdslindia.com. The BO is advised not to inform the service provider about any unauthorized debit to/transfer of securities from his BO account by sending an SMS back to the service provider as there is no reverse communication between the service provider and the depository.
• 7. The information sent as an alert on the mobile phone number shall be deemed to have been received by the BO, and the depository shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert.
• 8. The depository will make the best efforts to provide the service. The BO cannot hold the depository liable for non-availability of the service in any manner whatsoever.
• 9. If the BO finds that the information such as a mobile number, etc., has been changed without proper authorization, the BO should immediately inform the DP in writing.


• Fees:
• Depository reserves the right to charge such fees from time to time as it deems fit for providing this service to the BO.


• Disclaimer:
• The depository shall make reasonable efforts to ensure that the BO’s personal information is kept confidential. The depository does not warrant the confidentiality or security of the SMS alerts transmitted through a service provider. Further, the depository makes no warranty or representation of any kind in relation to the system and the network or their function or their performance or for any loss or damage whenever and howsoever suffered or incurred by the BO or by any person resulting from or in connection with availing of SMS alerts facility. The Depository gives no warranty with respect to the quality of the service provided by the service provider. The Depository will not be liable for any unauthorized use or access to the information and/or SMS alert sent on the mobile phone number of the BO or for fraudulent, duplicate, or erroneous use/misuse of such information by any third person.


• Liability and Indemnity:
• The Depository shall not be liable for any breach of confidentiality by the service provider or by any third person due to unauthorized access to the information meant for the BO. In consideration of the depository providing the service, the BO agrees to indemnify and keep safe, harmless, and indemnified the depository and its officials from any damages, claims, demands, proceedings, loss, cost, charges, and expenses whatsoever which a depository may at any time incur, sustain, suffer, or be put to as a consequence of or arising out of interference with or misuse, improper or fraudulent use of the service by the BO.


• Amendments:
• The depository may amend the terms and conditions at any time with or without giving any prior notice to the BOs. Any such amendments shall be binding on the BOs who are already registered as users of this service.


• Governing Law and Jurisdiction:
• Providing the Service as outlined above shall be governed by the laws of India and will be subject to the exclusive jurisdiction of the courts in Mumbai.
• I/We wish to avail the SMS Alerts facility provided by the depository on my/our mobile number provided in the registration form subject to the terms and conditions mentioned below. I/We consent to CDSL providing to the service provider such information pertaining to account/transactions in my/our account as is necessary for the purposes of generating SMS Alerts by the service provider, to be sent to the said mobile number.
• I/We have read and understood the terms and conditions mentioned above and agree to abide by them and any amendments thereto made by the depository from time to time. I/We further undertake to pay fees/charges as may be levied by the depository from time to time.
• I/We further understand that the SMS alerts would be sent for a maximum of four ISINs at a time. If more than four debits take place, the BOs would be required to take up the matter with their DP.
• I/We am/are aware that mere acceptance of the registration form does not imply in any way that the request has been accepted by the depository for providing the service.

• GENERAL TERMS AND CONDITIONS GOVERNING SECURITIES TRADING AND BROKING SERVICES OF TORUS FINANCIAL MARKETS PRIVATE LIMITED.
• The Client hereby state and acknowledge that I/we have read and understood the terms and conditions governing securities trading and broking services of Torus Financial Markets Private Limited. (“the Stock Broker”), the same appearing hereunder and I/we shall abide by the same


• A. Definitions:
• 1. “Exchange” shall mean and include the Bombay Stock Exchange Limited (BSE) and/or the National Stock Exchange (NSE) of India Limited.
• 2. “Depository” shall mean and include the National Securities Depository Ltd (NSDL) and Central Depository Services (India) Ltd. (CDSL).
• 3. “SEBI” shall mean and include the Securities and Exchange Board of India.


• B. General terms and conditions governing the service:
• 1. The Provisions of these terms and conditions and all transactions that are carried out by and on behalf of the Client, shall always be subject to the rules, regulations, guidelines and circulars issued by Stock Exchange, their Clearing Corporation/ Houses, if any, on which such transactions are executed and/or cleared by the Stock Broker that may be in force from time to time, the Reserve Bank of India and the NSDL and CDSL, the Securities Contracts (Regulation) Act 1956 and the rules made there under, and any other applicable statutory provisions and rules or regulations. The Stock Broker is under no obligation to inform the Client of changes in these rules, regulations or guidelines etc.
• 2. Where the Client is a Non Resident Indian, he agrees to abide by the Foreign Exchange Management Act and rules and regulations issued there under from time to time.
• 3. The Client hereby authorizes the Stock Broker to take all such steps on the Client’s behalf as may be required or advisable in the Stock Broker’s opinion for compliance with the Exchange provisions or any other law or provisions or to complete or settle any transactions entered in to through or with the Stock Broker or executed by the Stock Broker on behalf of the Client. However nothing contained herein shall oblige the Stock Broker to take such steps.
• 4. In addition to the specific rights set out in these terms and conditions, the Stock Broker and the Client shall be entitled to exercise any other rights which the Stock Broker or the Client may have under the Rules, Bye-Laws and Regulations of the Exchange and circulars issued there under or Rules and Regulations of SEBI.
• 5. The Client states that he/it is eligible in terms of age, territorial jurisdiction and has the authority to open trading account with a stock broker and nothing in law or otherwise bars the Client there from. The Client having opened / applied for opening trading account with a stock broker shall be deemed to have satisfied himself/itself with regard to eligibility in this respect.
• 6. If any transaction(s) with Stock Broker has/have been executed on behalf of the Client by any other person and the same has/ have been accepted by the Client from time to time on the basis of the contract note(s)/bills/any other correspondence dispatched/communicated to the Client by the Stock Broker and/or by part or full settlement of the said transaction(s) by the Client, then such transaction(s) shall be deemed to be executed by such person under authority of the Client and the Client hereby agrees to ratify and accept all such or other actions of such persons and undertakes to meet all obligations arising from these transaction(s).
• 7. All references to the specific quantity/rate/fee/charges mentioned in any other documents are subject to change from time to time with prior notice of 15 days.
• 8. These Terms and conditions can be altered, amended and/or modified by the parties mutually in writing. Provided however, if the rights and obligations of the parties hereto are altered by virtue of change in Rules and Regulations of SEBI or Bye Laws, Rules and Regulations of the relevant stock exchange, such changes shall be deemed to have been incorporated herein in modification of these terms and conditions. Provided further that the Stock Broker may communicate any changes to these terms and conditions through email. Such changes are binding on the Client if the Stock Broker has received no objection from the Client within 30 days from the date of such communication.
• 9. The Client agrees that he will not act as a sub broker without prior written permission of the Stock Broker and without obtaining certificate of registration from SEBI.
• 10. All orders made by the Client shall only be in securities compulsorily traded in the dematerialized form. All deliveries of securities made by or to the Client shall only be in the dematerialized form.
• 11. The Client shall transmit his/its orders to the Stock Broker through the Internet over the Stock Broker’s web site, or through telephone (wherever and whenever such facility is available and/or offered by the Stock Broker and as per predefined procedure of forwarding the order through a phone broking executive) through a sub-broker or in such manner as the Stock Broker may permit.
• 12. The Stock Broker shall have the right to retain and/or set-off and adjust any amounts payable to the Client against any present or future receivables from the Client (whether accrued or contingent). More particularly, the Stock Broker shall have the right to:
• a. set off and adjust all funds, receivables, margins of the Client lying with the Stock Broker, and/ or any amounts payable to the Client against all dues and receivables of, and amounts payable by the Client, across segments and/ or Exchanges for the settlement of dues and/or for margin requirements, of the Client, without any reference/ notice to the Client.
• b. set off and adjust all securities of the Client lying with the Stock Broker across segments and/or Exchanges for the settlement of the Client’s outstanding positions in any segment of Exchange, without any reference or notice to the Client.
• c. set-off and adjust all funds, receivables, margins of the Client lying with the Stock Broker, as well as all securities of the Client lying with the Stock Broker/pledged in favour of the Stock Broker, against all present and future dues and receivables of, and amounts payable by, the Client in relation to any other service for the settlement of the Client’s outstanding positions in relation to such other service availed by the client, without any reference to the Client. The Client hereby waives any and all objection to, and hereby authorizes the Stock Broker to adjust/appropriate its funds, receivables and margins and/or securities as aforesaid.
• 13. The Stock Broker may, at its sole discretion, square-off any outstanding position(s) of the Client due to all or any of the following:
• a. shortage of margin.
• b. any restrictions in relation to volume of trading/outstanding business or margins stipulated by the Exchange, clearing corporation/ clearing house and/or the Stock Broker
• c. delays by the Client in meeting his obligations/dues to the Stock Broker and/or the clearing corporation/clearing house.
• d. any extraordinary event warranting such square off
• e. any extraordinary movement in the market / particular script.


• C. Risk disclosure:
• 14. The Stock Broker declares that it has brought out the contents of the risk disclosure document to the notice of the Client and made him aware of the significance of the said document and the Client states and agrees that he has read, understood, appreciated and signed the risk disclosure documents of the Exchange and has retained a copy thereof. The Client agrees and declares as follows that:
• a. The Client shall deposit with the Stock Broker such monies, securities that may be required to open and/or maintain his account with the Stock Broker.
• b. All monies, securities that the Stock Broker may hold on Client’s account shall be held subject to a general lien for the discharge of Client’s obligations to the Stock Broker.
• c. The Client shall not, acting alone or in concert with others, directly or indirectly, hold and control excess number of permitted Derivatives contracts as fixed from time to time by the Exchange
• d. The Client shall not exercise a long or short position where, acting alone or in concert with others, directly or indirectly, the Client would have exercised in excess of the number of permitted futures contracts as may be fixed from time to time by the Exchange


• D. Provisions applicable specifically to Web, Wired and Wireless telephone based trading services
• 15. Stock Broker may offer broking services through the Internet through its web site ‘www.rsec.co.in’ or such other web site as notified by the Stock Broker from time to time (“the Website”). Stock Broker may also offer wireless and wired telephone based dial and trade broking services to the Client. Electronic broking services or wireless and/or wired dial and trade services or any other services through electronic mode shall be collectively referred to as “ETrading Services”. The provisions of this Section D shall apply to the E-Trading Services in addition to the remaining provisions of these terms and conditions.
• 16. Before availing of the E-Trading services the Client shall complete registration process, if any, as may be prescribed by the Stock Broker from time to time.
• 17. The Client shall follow the instructions given in the Website for registering himself as a client. Such formalities will include selection of preferred user ID, basic client information.
• 18. Stock Broker will provide the Client with a username, a trading password or other identification or security code/device by whatever name called, which will enable him to avail of the facilities of E-Trading through the Stock Brokers Website, over the telephone or in such other manner as may be permitted by the Stock Broker for availing the services. All terms regarding the use, reset and modification of such password shall be governed by information on the Website or available upon request by the Client to the Stock Broker.
• 19. The Client is aware that the Stock Broker’s system randomly generates the initial password, encrypts and passes on the password to the Client. The Client agrees and undertakes to immediately change his initial password upon receipt thereof. The Client is aware that subsequent passwords also are not known or available to the Stock Broker.
• 20. The services on the Website shall be available to the client subject to the terms and conditions mentioned thereof. The products specific terms and conditions shall be posted on the website. The use of any of the products by the clients shall mean that the client has accepted to the applicable products specific terms and conditions.
• 21. In any of the events referred to in Clause 22 the Client shall immediately change his password. However, if the Client is unable to change his password by reason of his having forgotten his password or his password having been unauthorizedly changed by some other person or for any other reason than the Client shall immediately request the Stock Broker in writing to discontinue his old password; and thereupon the Stock Broker shall cause the Stock Broker’s E-Trading system to discontinue use of the Client’s old password and the Stock Broker’s E-Trading system shall generate a new password for the Client which shall be communicated to the Client. At no point in time shall the Stock Broker be liable for any loss, whether notional or actual, that may be suffered by the Client on account of the misuse of the password/ security identification details. The Client acknowledges that on intimation of any of the events referred to in Clause 22 the Stock Broker may, at its sole discretion if deemed necessary to do so, temporarily discontinue the availability of the E-Trading System to the Client for the purpose of generating a new password, which shall be communicated to the Client. It is clarified for the avoidance of doubt that the Stock Broker shall not, at any time whatsoever, whether or not such intimation is received by the Stock Broker and whether or not the Stock Broker has discontinued the availability of the E-Trading System to the Client, be liable in any manner whatsoever for any orders entered and transactions done by any person whosoever through the Website using the Client’s username and/or trading password/ security identification details, the responsibility and liability for which will remain solely with the Client.
• 22. The Client shall be responsible for keeping the username, password and security identification details confidential and secure and shall be solely responsible for all orders entered and transactions done by any person who so ever through the Stock Broker’s system using the Client’s username, password and security identification details whether or not such person was authorized to do so. The Client shall ensure that he is the only authorized user of username, password and security identification details. The Stock Broker shall be entitled to presume that any orders or instructions entered or communicated using the Client’s username, and password is the Client’s own order or instruction or that of the Client’s duly authorized representative. The Client will be fully responsible and liable for, and will pay or reimburse to the Stock Broker on demand all costs, charges, damages and expenses incurred by the Stock Broker as a consequence of access and/or use of Client’s account, Stock Broker’s system or service by any third party using the Client’s username, password and security identification details.
• 23. The Client shall remain logged off from the Website at any time the Client is not accessing or using the E-Trading service and any liability incurred to the Client as a consequence of the Client not logging off the service shall be borne solely by the Client.
• 24. The Client agrees to provide information relating to customer user identification details and such other information as may be required while placing orders on the telephone to determine the identity of the Client. Provided however that nothing prevents the Stock Broker from accepting instructions from the Client over phone without usage of identification number, and such acceptance of instructions by the Stock Broker shall be binding on the Client.
• 25. The Stock Broker may from time to time, at its sole discretion, impose and vary limits on the orders that the Client can place through the Stock Broker’s Website (including but not limited to exposure limits, turnover limits, limits as to the number, value and/or kind of securities/contracts in respect of which buy or sell orders can be placed etc.). The Client is aware and agrees that the Stock Broker may need to vary or reduce the limits or impose new limits urgently on the basis of the Stock Broker’s risk perception and other factors considered relevant by the Stock Broker, and the Stock Broker may be unable to inform the Client of such variation, reduction or imposition in advance. The Client agrees that the Stock Broker shall not be responsible for such variation, reduction or imposition or the Client’s inability to route any order through the Stock Broker’s Website on account of any such variation, reduction or imposition of limits. The Client understands and agrees that the Stock Broker may, as a risk containment measure, at any time, at its sole discretion and without prior notice, prohibit or restrict the Client’s ability to place orders or trade in all or some of the securities/contracts through the Stock Broker.
• 26. Though orders will generally be routed to the Exchange’s computer systems within a few seconds from the time the order is placed by the Client on the Stock Broker’s Website, the Stock Broker shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay and the Client hereby waives any claim for losses, costs, damages, expenses or otherwise against the Stock Broker in this regard. The Client agrees that the Stock Broker may, at its sole discretion, subject any order placed by a Client to manual review and entry, which may cause delays in the processing of the Client’s order or may result in rejection of such order
• 27. In case of a market order, the Client agrees that he will receive the price at which order was executed at the Exchange’s computer system; and such price may be different from the price at which the security was trading when his order was entered into the Stock Broker’s Website.
• 28. The Client understands and agrees that the Stock Broker may, at its sole discretion and without being required to assign any reasons therefore, discontinue his E-Trading service in part or in its entirety and change the terms of the service (including the terms of the Stock Broker’s E-Trading Website) at any time and from time to time, by intimating through email.
• 29. The Client agrees to hold the Stock Broker harmless from any claims and confirms that the Stock Broker shall not be responsible or liable for any loss, actual or notional, caused directly or indirectly as a result of failure on the Internet, unauthorized access, equipment failure, communications failure, or systems failure or any condition beyond the control of the Stock Broker that may prevent the Client from entering a transaction request or prevent the Stock Broker from executing a transaction request. The Client further agrees that the Client shall not be compensated by the Stock Broker for any “lost Opportunity”.
• 30. The Stock Broker and group companies of the Stock Broker disseminating any data/message/information through the Web Site shall not be held liable for any error, inaccuracy, omission in or delay in the transmission or delivery of any such data, information or message.


• E. Margins
• 31. The Client shall make available the prescribed initial margin in the form of cash and/or in the form of approved securities (“the Margin”) with the Stock Broker prior to commencement of trading and/or before placing every trade/order instructions. The Client may be permitted to trade up to a predetermined number of times of the Margin (“the Multiple”) and the quantum of the Multiple on the margin shall be decided at sole option or discretion of the Stock Broker based on the specific stock or scrip or contract the Client intends to trade in. The Stock Broker shall have the irrevocable right to set off a part or whole of the Margin i.e. by way of appropriation of the relevant amount of cash or by sale or transfer of all or some of the securities, which form part of the Margin against any dues of the Client. Any reference in these terms to sale or transfer of securities by the Stock Broker shall be deemed to include sale of securities, which form part of the Margin, maintained by the Client with the Stock Broker. The Client agrees that the choice of specific securities to be sold shall be solely at the Stock Broker’s discretion. The Stock Broker shall have the sole and absolute discretion to refuse any particular form of margin offered by a Client. The Stock Broker shall be entitled in its sole discretion to revise the amount of and/ or modify or revise the type of margin it shall require/accept from the Client from time to time. The Client agrees that the Stock Broker shall be entitled in its sole discretion to require the Client to deposit with the Stock Broker a higher margin than that prescribed by the Exchange or any other applicable law. The Stock Broker shall also be entitled to require the Client to keep permanently with the Stock Broker margin of a value specified by the Stock Broker as long as the Client has margin/pay in obligations. If any security offered as margin is found not to be of good delivery at any time after its deposit with the Stock Broker, the Stock Broker is entitled to reduce the amount of margins attributable to such security and the Client shall immediately replace the same, failing which the Stock Broker may revise the margin requirements of the Client and/ or square-off any outstanding position of the Client. The Stock Broker is permitted in its sole and absolute discretion to collect additional margins (even though not imposed by the Exchange, the Clearing House or SEBI) and the Client shall be obliged to pay such margins
• a. Margin on Purchase The Stock Broker may require the Client to deposit interest free margin of such percentages on the price of the securities proposed to be purchased, as may be intimated from time to time by the Stock Broker by messaging on the computer screen of the client’s computer; by informing the client through employees / agents of TFMPL; by publishing / displaying it on the website of TFMPL / making it available as a download from the website of TFMPL,.
• b. Margin on Sales The Stock Broker may require the Client to deposit interest free margin of such percentages on the price of securities proposed to be sold or the relevant securities, as may be intimated from time to time by the Stock Broker by messaging on the computer screen of the client’s computer; by informing the client through employees / agents of TFMPL; by publishing / displaying it on the website of TFMPL / making it available as a download from the website of TFMPL,.
• c. Margins in Derivatives Contracts in the derivative segment, the Client is liable to pay an initial margin up front on or before creating a position. Such margin shall be decided upon by the Stock Broker from time to time. Furthermore, the Client is liable to pay (or receive) daily margins depending on whether the price of the Derivatives contract moves for or against the position undertaken. The Client may also be liable to pay exposure margin, maintenance margin, withholding margin, special margins or such other margins as are considered necessary by the Stock Broker or the Exchange from time to time. The Client agrees to pay the option premium and daily Mark to Market losses in the form of cash only and not securities.
• d. Mark to Market Margin in Derivative Contracts The Client also agrees to pay an upfront margin at the beginning of taking up a position that should cover the daily margins for the said position. If at any time during the period the said position is open or held, the cumulative Mark to Market (MTM) losses exceeds the available limits, in the Client’s account, the Client agrees to replenish the loss. The Client will ensure that the margins with the member are adequate at all times and will immediately make good any shortfall that is noticed on the Client’s open position/s on the Web Site or otherwise.
• e. Payment through Cheque/Demand Draft In case where the payment by the client towards the margin is made through a cheque issued in favour of the Stock Broker, any trade(s) would be executed by the Stock Broker only upon the realization of the funds of the said cheque or at the discretion of the Stock Broker. The Client agrees to mention his Client code along with his name on the reverse of any instrument through which he makes the payment to the Stock Broker.
• f. Margin in form of Securities The Client may, at the discretion on stock broker place margin with the Stock Broker in form of securities as approved by the Stock Broker. Such securities may at the discretion of the Stock Broker be marked as lien/pledge in favour of the Stock Broker from the depository account of the Client or such securities may be placed in a separate depository account of the Stock Broker. The Client may place/deposit only those securities that are acceptable to the Stock Broker. If at any time, a particular security ceases to be on the list of approved securities accepted towards margins, the Client shall provide such other margins as may be required in replacement of such security. The Client agrees and authorizes the Stock Broker to determine the market value of securities placed as Margin after applying a haircut that the Stock Broker deems appropriate. The Client’s positions are valued at the latest market price available (“Marked to Market”) on a continuous and/or regular basis by the Stock Broker. The Client is advised to monitor the adequacy of the collateral and the market value of such securities on a continuous basis. If due to price fluctuations, there is erosion in the value of the margins, the Client agrees to replenish any shortfall in the value of the Margins immediately, whether or not the Stock Broker intimates such shortfall. In case of shortfall in margin due to reduction in value of securities placed as margin, the Stock Broker may square-off any outstanding position of the Client.
• g. Type of Margin The Stock Broker may at its sole discretion prescribe the payment of Margin in the form of funds instead of securities. The Client accepts to comply with the Stock Broker’s requirement of payment of Margin in the form of funds immediately failing which the Stock Broker may sell, dispose, transfer or deal in any other manner the securities already placed with it as Margin or square off all or some of the positions of the Client as it deems fit in its discretion without further reference to the Client; and any resultant or associated losses that may occur due to such square off/sale shall be borne by the Client, and the Stock Broker is hereby fully indemnified and held harmless by the Client in this behalf.
• h. Margin with the Exchange The Client agrees that any funds or securities placed by him/her/it as Margin may in turn be placed as margin by the Stock Broker with the Exchange/Clearing House/Clearing Corporation as the Stock Broker may deem fit and permitted from time to time. The Client authorizes the Stock Broker to do all such acts, deeds, and things as may be necessary and expedient for placing such securities with the Exchange/Clearing House/Clearing Corporation as margin.
• i. Shortfall in margins and other provisions
• (i) If payment/securities towards the Margin or shortfall in Margin is not received instantaneously to enable restoration of sufficient Margin in the Client’s account, all or some of the positions of the Client as well as the securities of the Client may be liquidated by the Stock Broker at its sole discretion, without any reference or prior notice to the Client. The resultant or 22 Torus Financial Markets Private Limited Ver 3.7 / August 2015 associated losses that may occur due to such squaring off or sale of such securities shall be borne by the Client and the Stock Broker is hereby fully indemnified and held harmless by the Client in this behalf. Such liquidation or close out of positions shall apply to any segment in which the Client does business with the Stock Broker
• (ii) If the Client’s order is executed despite a shortfall in the available Margin/ Securities due to any technical glitch, the Client shall whether or not the Stock Broker intimates such shortfall in Margin/Securities to the Client instantaneously makeup the shortfall through delivery of securities in the event of a sale, or credit the required funds in the bank account in case of margin/buy order as may be required by the Stock Broker.
• (iii) Any reference in these terms to sale or transfer of securities by the Stock Broker shall be deemed to include sale of the securities, which form part of the Margin maintained by the Client with the Stock Broker. In exercise of the Stock Broker’s right to sell securities under these terms, the Client agrees that the choice of specific securities to be sold shall be solely at the Stock Broker’s discretion.
• j. Amendment in Margins: Any amendment in the percentage of margins as required to be maintained under the terms and conditions mentioned herein shall be intimated by the Stock Broker to the Client through email. The Client is required to make or replenish the shortfall in such margins, if any, immediately
• k. In the event of shortfall in margin, the Stock Broker, without being under obligation to do so, may check the availability of additional limits in the Client’s account in order to restore the margin level to the initial margin levels and in the event of no such additional limits being available in the Client’s account, the Client’s open positions may be squared off by the Stock Broker at its discretion.
• l. The Client agrees that it shall be the Client’s responsibility at all times to ensure that available margin is always above the span margin requirement specified by the Stock Broker for a particular position. The Client agrees and accepts that since the Stock Broker provides trading facility through the Internet, it may not be possible for it to inform the Client about any short fall in margin requirement on account of sudden spurt in the market, if any, individually.
• m. In the event of any change in margin percentage by the Exchange, the Stock Broker may change the applicable margin percent immediately and shortfall in margin on Client’s open position as a result of the same shall be dealt with in the same manner as specified for shortfall in margins specified here in above.
• n. The client shall when called upon to do so forthwith from time to time provide a Margin Deposit and / or furnish additional Margin in respect of the business done for the client by and / or as agreed upon by the client with the stock broker.



• F. Trading, settlement and Accounts:
• 32. The Client agrees that all orders placed by him for securities whether through the Website, through any dial and order facility or otherwise shall be within the parameters defined and mentioned in the terms and conditions specified by the Stock Broker. An open positions created by the client in the Intraday margin segment shall be squared off by the stock broker starting from cutoff time in normal course. Hence client may not be able to square off the above position on his own after cut-off time. The stock broker shall not be liable for any loss emanating from such square off., delayed square off or non square off. The cut-off time shall be the time as mentioned on the web-site or otherwise as intimated from time to time.
• 33. Upon execution or cancellation of any order placed through the Stock Broker’s system, the Client shall be given a confirmation, on the Website or electronic mail or SMS or any other means after the execution of the order/trade and this shall be deemed to be valid delivery thereof by the Stock Broker. It shall be the responsibility of the Client to review, immediately upon receipt, all confirmation of orders, transactions, or cancellations. It shall be the responsibility of the Client to follow up with the Stock Broker for all such confirmations that are not received by him within stipulated time
• 34. The Client shall bring any errors in any report, statement, account, confirmation or contract note of executed trades (including executions prices, scrips, or quantities) issued on daily basis to the Stock Broker’s notice in writing or by an electronic mail in accordance with Rules, Regulations and Bye-Laws of the relevant Stock Exchange that may be in force from time to time and/ or as may be decided by the company.
• 35. There may be a delay in the Stock Broker receiving reports of transaction(s)/status from the respective exchanges or other agencies in respect of or in connection with which the Stock Broker has entered into contracts or transactions on behalf of the Client(s). Accordingly the Stock Broker may forward to the Client late reports in respect of such transactions that were previously unreported to him as being expired, cancelled or executed. The Client shall not hold the Stock Broker responsible for any losses suffered by the Client on account of any late reports, statements or any errors in the report/statements computed by, or received from the Exchange.
• 36. The Client agrees that if, in any circumstance or for any reason, the market closes before the acceptance of the order by the Exchange, the order may be rejected. The Client agrees further, that the Stock Broker may reject orders if the same are rejected by the Exchange for any reason. In case of rejection of an order due to rejection by the Exchange, the Client agrees that the order shall remain declined and shall not be reprocessed, in any event.
• 37. The Stock Broker based on its risk management system may reject any order placed on the Website or in any other manner for any reason including, but not limited to, the non-availability of funds in the trading account of the Client, non-availability of securities in the Demat account of the Client with a designated depository participant, insufficiency of margin amount if the Client opts for Intraday margin trading, suspension of scrip for trading activities by or on the Exchange, and the applicability of circuit breaker to a scrip in which orders are placed.
• 38. The Client agrees that where an order has been placed through the Website and such order is not accepted on the Website for any reason, the Stock Broker shall have the right to treat the order as having lapsed.
• 39. The Client is aware that the electronic trading systems either at the Exchange or in the Stock Broker’s offices are vulnerable to disruptions, breakdowns or failures. In the event of nonexecution of trade orders or trade cancellation due to the happening of such events or vulnerabilities due to failure/disruption/breakdown of system or link, the Client may not be able to execute the desired transactions. In such event the Stock Broker does not accept responsibility for the losses, costs, expenses or damages that may be incurred by the Client due to such eventualities.
• 40. Cancellation or modification of requests:
• a. Due to technical or other factors the confirmation may not be immediately transmitted to or received by the Client and such a delay shall not entitle the Client to presume that the order has not been executed, cancelled or modified unless and until the Stock Broker has confirmed the same in writing.
• b. The Client agrees that any request for cancellation or modification of an order/bid/application shall be subject to such order/bid/application not having been acted upon or already having been executed or it being outside the control of the Stock Broker to undertake the cancellation or modification to such order/bid/application.
• 41. The Stock Broker shall issue contract notes in terms of the SEBI (Stock Brokers and SubBrokers) Rules and Regulations, 1992 within 24 hours of the execution of the trade. Such contract notes may be sent by a digitally signed electronic mail and posted on the Website or if issued in physical form, shall be dispatched by the Stock Broker by courier/mail post or through any other medium of communication, at the address mentioned in the Application for opening the trading account for at any other address expressly informed to the Stock Broker by the Client in writing. If the Client consents and agrees to the Stock Broker issuing the contract note in digital form and receiving the same by means of electronic communication. The Client acknowledges and agrees that non-receipt of bounced mail notification by the Stock Broker shall amount to delivery of the contract note at the e-mail ID of the Client. The email address of the Client for the purpose of receiving the contract notes shall be the address as available with the Stock Broker. Notwithstanding anything contained herein, the Stock Broker may send contract notes, bills or statements of account or trade confirmations by email or by courier/ mail post at the address mentioned in the client registration form or at any other address expressly informed by the Client. The Stock Broker shall not be responsible for non-receipt of trade confirmations/ contract notes due to any change in the correspondence address of the Client and the same not intimated to the Stock Broker in writing. The Client is aware that it is his responsibility to review trade confirmations, contract notes, bills or statements of account immediately upon their receipt. All information contained therein shall be binding upon the Client, if the Client does not object to the Stock Broker in writing to any of the contents of such trade confirmation / intimation within appropriate time.
• 42. Any communication if sent by the Stock Broker in electronic form shall be to the designated e-mail address of the Client or through access to the web site of the Stock Broker. The client may request stock broker to sent electronic contract notes, margin statement /report, statements of funds and securities, daily activity statement (DAS) and other communications & reports to the email id of the client registered with the company
• 43. In the event of the Stock Broker unable to recover any amount due from the Client from the bank account of the Client, the Client agrees to pay the amount due without demur on demand being made by the Stock Broker in that regard. The Client also authorizes the Stock Broker to sell securities of the Client to recover dues owed by the Client to the Stock Broker.


• G. Conditions governing trading in securities other than on the floor of the stock exchange:
• 44. The Client undertakes to read all the relevant offer documents and terms and conditions of all schemes of all mutual funds, other securities including Initial Public Offerings, Follow up offers, Buy Back Offers, other investment etc before entering into any transactions.
• 45. The Stock Broker or the concerned Mutual Fund/Issuer/agency or their respective registrars may entertain online transaction requests and/or requests made through telephone in the manner provided under these terms and conditions or on the Website.
• 46. For change of address and personal details of the Client, the Client shall send a letter to the Stock Broker duly signed by all the co-holders.
• 47. The Client is requested to check up the personal and bank related details provided by him. Neither the Stock Broker nor any of the Mutual Funds/Issuers/agency chosen shall accept any liability that may arise as a consequence of the erroneous information provided by the Client.
• 48. In case of Mutual Fund, the units of schemes shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV) prevalent on the date of the application, if the application for purchase, redemption or switch is received by the Fund Houses before the cut off time as specified on the Website and consistent with terms of the Scheme. The Stock Broker shall take all necessary action to ensure that the NAV allotted is the NAV applicable on the date of the transaction with the Mutual Fund. However the Stock Broker shall not be liable for any loss that may arise to the Client as a result of the correct NAV not being allotted to the Client’s transactions. Any request falling due on holiday would be processed on the next business day and respective NAV would be applicable as per the Mutual Fund offer document.
• 49. In case of other securities or financial products, the order for purchase, sale, offer under buy back etc. shall be accepted by the Stock Broker only if the same is received by the cutoff date as indicated on the Website and consistent with the terms of the offer.
• 50. The Client can view his/her/its transactions on the Website.
• 51. The Stock Broker does not accept any liability for delay in processing time at the Mutual Fund’s/Issuer’s/Registrar’s end
• 52. It is explicitly stated herein that the Stock Broker has not recommended any Mutual Fund Schemes/ Other Schemes offered by the Stock Broker on the Website or otherwise.
• 53. Neither the Stock Broker nor any of the Mutual Fund AMCs nor the concerned Issuer shall be liable for any failure to perform its obligations, to the extent that such performance has been delayed, hindered or prevented by systems failure, network errors, delay or loss of data and in circumstances of acts of God, fire, floods, earthquake, tsunami, epidemics, quarantine, riot, civil commotion, act of terror, war, and act of state.
• 54. Subscription to Initial Public Offerings (IPO) and follow on others: The Client agrees that in the event of the Client applying for IPO through the Website or otherwise through the Stock Broker, the Stock Broker shall not be held responsible for nonallotment of securities either fully or partly to the Client, for any reason whatsoever. The Stock Broker shall not be held responsible for any reason whatsoever if the bid/application/revision instruction sent by the Client is not received by it, or if the bid/ application/revision could not be uploaded to the Stock Exchange, or could not be sent to the Banker / Registrar to the issue. The Stock Broker shall not be held responsible for non-receipt or delay/incorrect receipt of refund, if any, from the Issuer Company. The Stock Broker shall not be held responsible for incorrect Tax deduction at Source by the Issuer Company, if applicable, or for non-receipt or delay/incorrect receipt of TDS certificate, if any, from the Registrar/ Company.
• 55. Online Subscription to Mutual Funds through the Website: The Client agrees that -
• a. Any prior transactions of the Client shall continue to be with the existing folio maintained with the respective AMCs/ Registrars and the Client shall not make any transactions under the existing folio through the Website. In such event the AMC/Registrar may reject the transaction and the Client shall not hold the Stock Broker or AMC/Registrar responsible.
• b. The Client authorizes the AMC/Registrars to maintain a separate folio for investment made through the Website.
• c. The Client authorizes the Stock Broker to create only one issuer folio for the client per AMC in their books.
• 56. The Stock Broker shall not be liable for any failure or for any loss, damage or other costs arising in any way out of:
• a. System failure including failure of ancillary or associated systems or fluctuation of power, or other acts of God/force majeure;
• b. Accident, transportation, neglect, misuse, errors, frauds of the Client’s or agents or any third party; or
• c. Any fault in any attachments or associated equipment of the Client;
• d. Any incidental, special or consequential damages including without limitation of loss of profit.’
• 57. The client agrees that the stock broker may send any document that is obligatory to be send to the client by means of electronic communications. These electronic communication may be in the form of e-mail attachments. The stock broker would be deemed to have fulfilled its legal obligation to deliver the documents to the client, if it is send by electronic mode.


• H. Banking / Depository relationship and Bank / Depository account(S):
• 58. The Client agrees that the Stock Broker may, at any time, during the subsistence of any arrangement relating to the subject matter of these presents, require the Client to open accounts with a bank and a depository participant which shall be updated with stock broker. The Client agrees that the debit/credit for all the transactions may be effected in this/these accounts.
• 59. The Client agrees that to the extent permitted by the law for the time being in force, any instructions issued or given by the Stock Broker pursuant to the authority conferred upon the Stock Broker, if any, will be given first priority over any instructions or cheques given or issued by the Client and that funds or securities once blocked on the instructions of the Stock Broker in connection with a trade/ transaction entered into or to be entered into by the Client or on behalf of the client with or through the Stock Broker can be released only with the express written consent of the Stock Broker. The Client further agrees that if the Stock Broker has given any blocking, holding, debit or other instructions in respect of any funds or securities in connection with a trade/ transaction entered into or to be entered into by the Client with or through the Stock Broker and the designated bank and/ or the depository participant receives transfer, debit or other instructions in respect of such funds or securities from the Client or any other person, then such bank and/ or the participant shall first give effect to the instructions issued by the Stock Broker on a first priority basis.
• 60. The Client agrees to ratify and confirm all acts, deeds, matters and things that the Stock Broker may do pursuant to such authority as if the same were done by the Client himself/itself.
• 61. The Client agrees that orders, instructions and other communication given or made over the telephone may be routed through the Stock Broker’s interactive voice response or other telephone system and may be recorded by the Stock Broker. The Client also agrees that such recording and the Stock Broker’s records of any orders, instructions and communication given or made by the Client or the Stock Broker by electronic mail, fax, or other electronic means shall be admissible as evidence and shall be final and binding evidence of the same.
• 62. The Client agrees that the Stock Broker shall have the right at any time during the subsistence of the trading account, and hereby authorizes the Stock Broker, to give any instructions pursuant to transactions executed in the trading account and/or these terms and conditions with the designated bank. The client agrees that he shall have no cause of action in respect of any instruction that may be given to the bank in respect of the accounts maintained with such bank in pursuance of these presents and hereby agrees to ratify and confirm all that the Stock Broker or such bank may do pursuant to such authority.
• 63. The Client agrees that in the event, the designated bank terminates the agreement/its relationship with the Client in respect of the bank account maintained by the Client with the designated bank for any reason or informs the Stock Broker of any misdemeanor or transgression by the Client in the operation of the account or in any other circumstance resulting in the closure or in operation of the said bank account with the designated bank, the Stock Broker may, at its discretion, suspend its services to the Client with prior intimation through email..
• 64. The Client confirms that the bank account linked/to be linked to the trading account is the valid bank account of the Client.


• I. Trading account and maintenance thereof
• 65. The parties hereto agree as follows:
• a. Money pay in to Stock Broker: The Client agrees that all payments due to the Stock Broker will be made within the specified time and in the event of any delay, the Stock Broker may refuse, at its discretion, to carry out transactions on behalf of the Client. The Client agrees that alternatively, the Stock Broker may, at its sole discretion, square off such transactions or closeout the position and the costs/losses if any, thereof shall be borne solely and completely by the Client. All payments made to the Stock Broker shall be from the account of the Client and shall not be from any third party.
• b. Securities pay in to Stock Broker: All delivery to be effected to the Stock Broker for a trade must be made within 24 hours from the execution of the sale order or 1 day prior to pay in date whichever is earlier, or at time of placing trade order at sole discretion of the Stock Broker. Losses, if any, that may accrue in the event of default in completing the delivery on the Exchange by the Stock Broker as a result of any delay in the delivery by the Client shall be borne solely and completely by the Client. Losses for the purposes of this clause shall include auction debits/penalty charges etc, if any incurred as a result of non-delivery of securities on the settlement date on the Exchange. No third party shares will be sold through the Stock Broker or third party payment shall be made to the Stock Broker. If the Client has sold any securities in anticipation of receipt of securities from the Exchange against purchase in previous settlements, such sale shall be at the sole risk as to costs and consequences thereof of the Client.
• c. Securities pay out by Stock Broker: The Stock Broker may directly credit the demat account of the Client with the depository participant. Provided that if the order placed by the Client through the Website or otherwise is for securities which are in the no delivery period, such securities shall be credited to the trading account of the Client only at the time of settlement of trades, as per the schedule of the Exchange. However if any sum is due from the Client, the Stock Broker may withhold the credit of securities to the demat account of the Client. The Client authorizes the Stock Broker to withhold the securities to meet liabilities of Client to the Stock Broker under these terms and conditions.
• d. Stock Broker at its discretion is entitled to consider any sum or money or security lying to the credit of the Client as margin received. \


• J. Representations and Warranties:
• 66. The Client hereby warrants that he is capable of the dealing in securities and is aware of the risks in dealing in securities market.
• 67. Though these terms and conditions have been divided into sections governing transactions in various segments/services, the same shall be binding on the parties in their entirety. Confirming these terms and conditions governing transactions in multiple segments/services shall not be a reason for disputing any transaction or account of Client with Stock Broker.
• 68. The Client states that he has opened/agrees to open a valid and subsisting demat account with the depository participant suggested by the Stock Broker.
• 69. The Client agrees to provide and continue to provide all details about him/themselves as may be required by the Stock Broker including, but not limited to, PAN or Unique Identification Number (mandated by SEBI) and states that all details and facts represented to the Stock Broker are true.
• 70. The Client warrants that all or any securities deposited by him with the Stock Broker in respect of margin requirements or otherwise are owned by him and that the title thereof is clear and free of encumbrances.
• 71. The Client shall abide by the provisions of the Exchange and the terms and conditions stipulated by the member and in force from time to time. Any changes in the terms and conditions governing the provisions of E-Trading services would be intimated to the Client by electronic mail at sole discretion of the Stock Broker.


• K. Fees and Brokerage
• 72. Commissions, Brokerage and charges: All commissions and charges leviable on transactions in securities pursuant to these terms and conditions shall be payable as mentioned below:
• a. The Client agrees to pay the Stock Broker brokerage, commission, fees, transaction charges, service tax, stamp duty, SEBI turnover charges, securities transaction tax and other taxes as they exist from time to time and as they apply to the Client’s account and transactions, and for the services that he receives from the Stock Broker. Any revision in brokerage will be made only after giving 15 day’s notice by way of communication through email. The Stock Broker shall charge brokerage to the Client at a rate as intimated and as may be mutually agreed and modified from time to time. The stock broker may specify different structure of charges for executing transaction instructions received from the client through different channels and the client agrees to abide by such structure of charges.
• 73. User Fees/Other Charges: The Client agrees that the Stock Broker may charge user fees for the use of any other services including but not restricted to E-Trading ancillary services, use of website platform and dial up services at rates intimated and as modified from time to time with prior notice of 15 days. The Stock Broker may charge any other relevant charge in the manner intimated from time to time including but not limited to membership fees, subscription fees, renewal fees, access fees, commissions, Service Tax, Turnover Charges, Tax Expenses incurred, Stamp duty etc. as applicable.


• L. Default
• 74. The Client agrees that he shall be deemed to have defaulted these terms in circumstances including, but not restricted to the following:
• a. Any delay in payment of dues, margins, charges or delivery of securities in respect of the transactions executed by the trading member on behalf of the Client.
• b. Any misrepresentation or false statement or omission or misleading information supplied by the Client to the Stock Broker.


• M. Consequences upon default
• 75. In the event of default under these terms and conditions by the Client, the Stock Broker shall be entitled to any or all of the following courses of action:
• a. Termination of provision of services
• b. Other remedies as may be available in terms of the law in force at that point of time.
• c. Arbitration as provided in the Rules, Regulations of the Exchange(s).


• N. Lien / set off
• 76. Notwithstanding anything contrary contained in these terms and conditions, the Stock Broker shall have unrestricted right of lien and set off.
• 77. All funds of the Client in the account shall be subject to lien for the discharge of any or all payment due to the Stock Broker from the Client, whether under these terms and conditions or otherwise, or in respect of any other obligation that Client may have to the Stock Broker.
• 78. All securities with the stock broker shall be subject to lien for the discharge of any or all payments due to the Stock Broker, whether under these terms and conditions or otherwise and may be held by the Stock Broker and held as security against default by the Client in respect of the services already availed of by the Client.
• 79. The enforcement of the lien aforementioned shall be at the sole and complete discretion of the Stock Broker, and the Stock Broker alone may decide the securities to be sold, if any.
• 80. The Client authorizes the Stock Broker to block funds/ledger balance/securities against pending order or pledge securities in favour of the Stock Broker against any of his dues/margins.
• 81.
• a. The client authorizes the stock broker to pay on behalf of the client the amounts due from the client towards demat charges, charges payable to other service providers associated with www.rsec.co.in and also recover / adjust the above payment from the clients A/c maintained with the stock broker.
• b. The client requests the stock broker to adjust account balances due on account of one Exchange with another exchange and vice versa.


• O. Indemnity
• 82. The Stock Broker shall be indemnified by the Client in case of any action initiated against Stock Broker by any party not privy to this contract and it shall be the duty of the Client to bear out of their funds all costs, losses and expenses which Stock Broker may incur or become liable to pay by reason of any event in the course of the use of the said services to the Client.
• 83. The Client shall indemnify and keep indemnified the Stock Broker harmless from and against all claims, demands, actions, proceedings, loss, damages, liabilities, penalties, fines, levies, imposts, charges and/or expenses that are occasioned or may be occasioned to the Stock Broker directly or indirectly as a result of bad delivery of shares/securities and/or as a result of fake/ forged/stolen shares/securities/transfer documents that are introduced by or through the Client during the course of his dealings/operations on the Exchange.
• 84. The Client shall indemnify and keep indemnified the Stock Broker harmless from and against all claims, demands, actions, proceedings, loss, damages, liabilities, penalties, fines, levies, imposts, charges and/or expenses that are occasioned or may be occasioned to the Stock Broker directly or indirectly on account of a breach by the Client of its representations, warranties, covenants, undertakings and obligations herein.
• 85. The Client hereby agrees to indemnify the Stock Broker against any loss, costs, expenses etc. that may be suffered by the Stock Broker or against any claim, demand, action, proceeding that may be initiated against the Stock Broker or its agents, or non-compliance of any applicable rules and regulations or arising out of or in connection with breach of any of the Client obligations under these terms and conditions or any modification thereto.


• P. Miscellaneous and other terms and provisions
• 86. Stock Broker may adopt any such processes or procedures to verify the genuineness of the Client and the documents submitted by the Client from time to time and Client agrees to comply with such processes and procedures. Such processes and procedures may involve appointment by Stock Broker of an outside agency and the Client does not object to the same.
• 87. The invalidity or unenforceability of any provisions of these terms and conditions in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of the terms and conditions in such jurisdiction or the validity, legality or enforceability of these terms and conditions, including any such provision, in any other jurisdiction, it being intended that all rights and obligations of the Parties hereunder shall be enforceable to the fullest extent permitted by law.
• 88. The heading of each provision hereof is for descriptive purposes only, and shall not be deemed to modify or qualify any of the rights or obligations set forth in each such provision.
• 89. The Client shall at all times continue to be responsible for any transactions ordered on his accounts prior to the cancellation of the services. If the service is withdrawn for a reason other than the breach of the terms and conditions by the Client, the liability of the Stock Broker shall be restricted to the return of the pro rata annual charges, if any, recovered from the Client for the period in question. The closure of the accounts of the Client shall automatically terminate the web based brokerage service facilitated by the Website and the Stock Broker may suspend or terminate E-trading services without prior notice if the Client has breached these terms and conditions or it learns of the death, bankruptcy or legal incapacity of the Client.
• 90. No forbearance, relaxation, failure or delay by the Stock Broker in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any other right, power or privilege. The rights and remedies available to the Stock Broker herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.
• 91. Investment or other advice
• a. The Client agrees that none of the services available on the Website or through any literature or brochure issued by the Stock Broker shall amount to investment advice on the part of the Stock Broker.
• b. The Client may access or be able to access investment research reports or opinions through the Internet or the Website including but not limited computerized online services or other media. The availability of such information does not constitute a recommendation to buy or sell or hold or transact in any of the investment products or securities available or made available with or by the Stock Broker. Any and all investment decisions will be based on the Client’s own evaluation of financial circumstances and investment objectives and Client’s assessment of capital to be put to risk. Any real time quotes provided are only for Client’s individual use and Client shall not furnish such data to others.
• c. The Client agrees that each participating exchange or association or agency or individual or person that supplies any data displayed on the Website asserts a proprietary interest in such data. Neither the Stock Broker nor any participating exchange or association or agency or individual or person or any supplier of market or market based data guarantee the timeliness, sequence, accuracy, completeness, reliability or content of market information, or messages made available on the Website and the same are available on an “as is” basis without warranties of any kind, either express or implied including without limitation those of merchantability and/or fitness for a particular purpose.
• 92. Modifications
• Any modification to these terms and conditions shall be intimated to the Client by email
• 93. No Waiver: The failure on the part of the Stock Broker from taking any action against the Client for any breach or breaches of these terms and conditions shall not constitute a waiver by the Stock Broker of any subsequent or continuing breach thereof by the Client.
• 94. Force Majeure: The Stock Broker shall not be responsible for delay or default in the performance of its obligations due to contingencies beyond its control including but not limited to losses, delays or defaults caused directly or indirectly by Exchange or market rulings, suspension of trading, fire, flood, civil commotion, earthquake, war, tempest, arson, riot, act of state, act of terror, strikes, failure of the systems or network, failure of internet links, or government/regulatory action.
• 95. In these terms and conditions the singular shall include the plural where the context so admits and vice versa.
• 96. The masculine shall include the feminine and the neutral and vice versa.
• 97. The Client agrees to abide by operational procedures laid down by the Stock Broker regarding banking transactions, demat transactions, billings etc. and any changes made therein to these procedures from time to time and mentioned on the Website.
• 98. The Stock Broker may send bill or any other information to the Client through mail post/courier/electronic form or through any other medium of communication.
• 99. Prevention of Money Laundering Act, 2002 the client shall always be subject to the provision of Prevention of Money Laundering Act, 2002 and Rules, Guidelines framed there under and any amendments / modification thereto from time to time. Clients hereby agree to abide by the said Act, Rules and Regulation or guidelines. The stock broker shall not be held responsible for non-compliance of any applicable rules and regulations or breach of any of the Rules and Regulation or guidelines by the client.
• 100. Jurisdiction
• a. Indian Jurisdiction: The Stock Broker and the Client declare and agree that the transactions executed on the Exchange are subject to the 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 Bye Laws and regulations of the Exchange for the purpose of giving effect to the provisions of the Rules, Bye Laws and Regulations of the Exchange and the circulars issued there under. The Stock Broker hereby agrees that it shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered in to between the Stock Broker and the Client and that it shall be liable to implement the arbitration awards made in such proceedings.
• b. Foreign Jurisdiction: This service does not constitute an offer to sell or a solicitation of an offer to buy any shares, securities or other instruments to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. This service is not intended to be any form of an investment advertisement, investment advice or investment information and has not been registered under any securities law of any foreign jurisdiction where it may be unlawful to offer such a service. Further no information on the website is to be construed as a representation with respect to shares, securities or other investments regarding the legality of an investment therein under the respective applicable investment or similar laws or regulations of any person or entity accessing the website.
• 101. The Stock Broker discloses herewith that it undertakes proprietary trading from time to time.
• 102. Without limiting the generality of the foregoing, the Stock Broker specifically disclaims any guarantee or warranty that
• (a) the ETrading Services will be secure, uninterrupted or error free
• (b) that there are no viruses or harmful content on or in the Website or the E-Trading Services, or
• (c) that the content on the Web Site are correct, accurate, reliable, timely, legal and of any specific quality.
• 103. The client authorizes the Stock Broker to share the Client related information with its group companies specified on its website, and with service providers rendering service to the Client. The Client agrees that under no circumstances, including negligence, shall the Stock Broker or anyone involved in creating, producing, delivering or managing the E-Trading Services be liable for any direct, indirect, incidental, special, general, remote or consequential damages arising out of the use or inability to use or the availability or non-availability of the said services including, but not limited to loss or damage in relation to,
• (a) loss of profits, trading losses, loss of opportunity or damages that result from interruption, delay or loss of the use of the service
• (b) any claim, loss or damage attributable to errors, omissions or other inaccuracies in the content or data on the Web Site,
• (c) any unauthorized use, access or alteration or discontinuance of the said services, or
• (d) any other matter relating to the said services.
• 104. Notice Any notice, information or other communication to be given by the Client to the Stock Broker in connection with these terms and conditions shall be in writing and shall be deemed duly served if delivered personally or by prepaid registered post to the address being: Torus Financial Markets Private Limited 2nd floor, ICC Chambers-II, Saki Vihar Road, Near MTNL office, Powai, Mumbai - 400072. Any notice, to be given by the Stock Broker to the Client in connection with these terms and conditions shall be in writing and shall be deemed duly served if sent, by courier or prepaid registered post to the address, or the e-mail address available with the Stock Broker. Notwithstanding anything stated above, communication relating to order, margins/ collateral, maintenance calls and other similar matters by the Stock Broker to the Client may at the option of the Stock Broker, be communicated to the clients or its representative orally and/or by facsimile/mail/posting on the website by the Stock Broker
• 105. The client may terminate this letter of confirmation / document at any time by giving a notice of 30 days to Torus Financial Markets Private Limited. In such an eventuality, Torus Financial Markets Private Limited may terminate the e-trading facility offered to the client.

• Most Important Terms and Conditions (MITC) (For non-custodial settled trading accounts)
• 1. Your trading account has a “Unique Client Code” (UCC), different from your demat account number. Do not allow anyone (including your own stock broker, their representatives and dealers) to trade in your trading account on their own without taking specific instruction from you for your trades. Do not share your internet/ mobile trading login credentials with anyone else.
• 2. You are required to place collaterals as margins with the stock broker before you trade. The collateral can either be in the form of funds transfer into specified stock broker bank accounts or margin pledge of securities from your demat account. The bank accounts are listed on the stock broker website. Please do not transfer funds into any other account. The stock broker is not permitted to accept any cash from you.
• 3. The stockbroker’s Risk Management Policy provides details about how the trading limits will be given to you, and the tariff sheet provides the charges that the stock broker will levy on you.
• 4. All securities purchased by you will be transferred to your demat account within one working day of the pay out. In case of securities purchased but not fully paid by you, the transfer of the same may be subject to limited period pledge i.e. seven trading days after the pay-out (CUSPA pledge) created in favour of the stock broker. You can view your demat account balances directly at the website of the Depositories after creating a login.
• 5. The stock broker is obligated to deposit all funds received from you with any of the Clearing Corporations duly allocated in your name. The stock broker is further mandated to return excess funds as per applicable norms to you at the time of quarterly/ monthly settlement. You can view the amounts allocated to you directly at the website of the Clearing Corporation(s).
• 6. You will get a contract note from the stock broker within 24 hours of the trade.
• 7. You may give a one-time Demat Debit and Pledge Instruction (DDPI) authority to your stock broker for limited access to your demat account, including transferring securities, which are sold in your account for pay-in.
• 9. In case of disputes with the stock broker, you can raise a grievance on the dedicated investor grievance ID of the stock broker. You can also approach the stock exchanges and/or SEBI directly.
• 10. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. You will not have any protection/recourse from SEBI/stock exchanges for participation in such schemes.

• Torus Financial Markets Private Limited has enabled the facility to voluntarily freeze/ block online access of Trading Account in case of any fraudulent or suspicious activity identified by you. This facility will allow you to protect your data and online trading ac from any frauds.
• In case you observe anysuspicious activity, you can request the voluntary freezing/blocking of online access to your trading account. This can be done conveniently by contacting our customer desk on 7558775587 or by sending an email from your registered email address to stoptrade@torusdigital.com.
• Upon receiving your request, we will promptly acknowledge it. Following the freezing/blocking of online access, you will receive confirmation on your registered mobile number and email ID. This communication will inform you that online access to your Trading account has been suspended, and any pending orders will be cancelled.
• Following are the timelines within which the actions will be initiated:



Scenario	Timelines for issuing acknowledgement as well as freezing/blocking of the online access of the trading account
Request received during the trading hours and within 15 minutes before the start of trading	Within 15 minutes
Request received after the trading hours and 15 minutes before the start of trading	Before the start of the next trading session



• Trading hours shall be as follows: Capital Market Segment: 9.15 a.m. to 3.30 p.m., Equity Derivatives Segment: 9.15 a.m. to 3.30 p.m., Currency Derivatives Segment: 09.00 a.m. to 05.00 p.m., Commodity Derivatives Segment: 09.00 a.m. to 11:30 p.m. 2 To begin with, the time limit of 15 minutes is being specified for the purpose of issuing acknowledgement as well as freezing/blocking of the online access of the trading account. This time limit shall be contracted after a review in next six months after the date of its applicability to enhance protection of investors from suspicious activities.
• In case you wish to Call & Trade in offline mode, you may contact your RM or on 7558775587.
• To unfreeze/unblock the access to your online trading account, kindly follow any of the options mentioned below:
• Email us at customercare@torusdigital.com or stoptrade@torusdigital.com from your registered email id
• Call us at 7558775587.
• Thank you for your continued support and cooperation.