Sr. No. Contents Brief Description Page nos. 1. Checklist and Guidelines for documents A brief checklist on acceptable documents as proofs 2 and

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2 Sr. No. Contents Brief Description Page nos. 1. Checklist and Guidelines for documents A brief checklist on acceptable documents as proofs 2 to be submitted and conditions thereto and guidelines for filling the Account opening form. 2. SECTION A - MANDATORY DOCUMENTS a. Know Your Client Form For capturing client details necessary for opening 3 Trading and Demat Account of the client b. Member - Client Agreement (NSE) Prescribed by Regulators (NSE, BSE and MCX-SX). 10 c. Member - Client Agreement (BSE) Lays down basic rights and obligations of client and 14 d. Member - Client Agreement (MCX-SX) Stock Broker 18 e. Combined Risk Disclosure Document Prescribed by Regulators. Contains indicative list of 22 risks involved in trading and also client's rights and obligations. f. Policies and Procedures Certain applicable policies and procedures of IIFL 62 significant to Trading Account of the client. 3. SECTION B - NON - MANDATORY DOCUMENTS a. Annexure A to the Member Client Agreement Clauses required for smooth operations of client's 27 (including 'Internet Trading' clauses) account, client s investment in IPO/ MUTUAL FUND schemes, Internet Trading clauses, etc. b. DP - Client Agreement Prescribed by Depository; Provides basic rights and 46 obligations of client and Depository Participant. Required if Demat account is being opened with IIFL. c. Authorisation for receiving transaction Required for issuance of Monthly/ quarterly demat 49 statement through Internet account statement at the client's registered id. d. Power of Attorney Voluntary and Limited purpose POA in favour of A1-A4 Broker for operational requirements as per client authorization/ instruction. e. Terms and Conditions cum Registration Prescribed by Depository. Required to receive SMS 50 form for receiving SMS Alerts from CDSL alerts for the transactions executed in the demat account directly from the Depository f. Availing of VAS SMS Alert facility Subscription by client for value added services including 52 receipt of updates on stock prices & margin/ ledger balance of client on their registered mobile number g. Authorisation for receipt of Contract Note Required for issuance of Contract Notes, Statement and other Documents in Digital Mode of Account and other documents on the client's registered id. h. Running Account Authorisation Required for maintaining clients account on a 54 running account basis. i. Authorization for considering of balance Required for considering the balances towards the 54 towards Family/ Group Accounts position family/ group account position as detailed by the client. j. Authorisation to send password by SMS Required for issuing the password of the client's 55 trading account on the registered mobile number k. Authorization to place instructions and Required if client wish to give authority of giving 56 receipt of documents instructions and receiving documents to any person. l. Mutual Fund Service System facility & Required if the client wants to avail Mutual Fund 57 BSE StAR Mutual Fund Service System facility & BSE StAR MUTUAL FUND provided by NSE & BSE respectively 4. SCHEDULE OF CHARGES Details of fees/ brokerage and other charges 66 applicable to your trading and demat account 1

3 CHECKLIST AND GUIDELINES FOR DOCUMENTS TO BE SUBMITTED (CORPORATES AND TRUSTS) VALIDATION IDENTITY PROOF ADDRESS PROOF BANK PROOF PROOFS NAME SIGN PHOTO CORRESPON- DENCE PERMANENT ADDRESS BANK NAME BANK A/C.NO BANK MICR ADDRESS CODE PAN CARD (MANDATORY) TELEPHONE ELECTRICITY BANK PASSBOOK * BANK STATEMENT # CANCELLED CHEQUE ^^ BANK VERIFICATION LETTER in original (SCB only) % LEAVE & LICENSE AGREEMENT** (Registered) The proofs should not be older than 2 months as on date of this application. * Bank passbook should have Bank Manager s Stamp & Signature if it is hand written. # Bank Statement should be in original and of latest quarter. If not original then it should have Bank manager s stamp & signature. ^^Cancelled Cheque should have name of the account holder and account number printed on the same. % Bank Verification letter should be as in prescribed format on the letter head of the Bank duly signed and authorised by the Bank official mentioning his/her Name, Designation, Signature & Employee Code. NOTES 1. Authorised Signatory: Proof of Identity OF ALL Authorised Signatories should be submitted. The proofs obtained should be valid for atleast 2 months from the date of this Passport, Driving License and Election Voter Id will be accepted as Identity proofs. 2. Trust (Registered): Proof of Identity of all Trustees to be obtained; Proof of address and Bank A/c should be in name of Trust; 3. Registration Certificate and Certified copy of Deed of Trust is mandatory for opening Demat account in the name of Trust. 4. Board Resolution is mandatory to be submitted and the same shall be signed by Company Secretary/Managing Director/Chairman of the Company/Trust. 5. Certified copy of Memorandum of Association and Article of Association in case of Company/Body Corporate 6. Copies of the Balance Sheet for the last two financial years. Copies of Annual balance sheet should be submitted every year. 7. Copies of latest Share Holding pattern including list of all those holdings more than 5% in the share capital of the Company, duly certified the Company Secretary/Whole time Director/Managing Director. Copy of updated share holding pattern to be submitted every year. 8. Photographs of Whole time Directors, Individual promoters holding 5% or more, either directly or indirectly in the share holding of the Company and person authorised to deal in securities. 9. All corrections on the form should be countersigned with full signature. White ink is not allowed wither in form or agreement 10. Signatures can be in English, Hindi or any other languages contained in 8th Schedule of the Constitution of India. Thumb impressions and the signatures other than in above mentioned languages must be attested by a magistrate or a Notary Public or a Special Executive Magistrate under his/her official seal. 11. All communications shall be sent at the correspondence address/ mobile number/ id of the Sole/ First holder only. 12. Incase of an employee of another Member Broker, NOC from employer is required. Please note that the mode of payment should be only by way of account payee crossed cheques/demand draft in favour of "India Infoline Ltd - (Client's Login id)". No cash receipts payments will be entertained for any transactions made by the client. IIFL will not be responsible for any kind of claims raised by the clients regarding payment made in cash. Mobile number is compulsory for opening of Demat/ Trading account with IIFL. In case of change in mobile number any time after opening of this account, for postpaid connection it is mandatory to submit the photocopy of the latest/ last 2 months mobile bill and for prepaid connection client must personally visit the branch/ FAN s along with their ID proof (eg. PAN Card/ Driving Licence/ Passport/ Election Voter ID) and get the same verified. 2

4 BSE SEBI Registration No. (Cash): INB ; Member Code 179 BSE SEBI Registration No. (F & O): INF NSE SEBI Registration No. (CASH): INB ; Member Code: NSE SEBI Registration No. (F & O): INF NSE SEBI Registration No.: (Currency Derivatives) INE MCX-SX SEBI Registration No.: (Currency Derivatives) INE CDSL SEBI Registration No: IN DP CDSL (DP Id: ); NSDL SEBI Registration No: IN DP NSDL (DP Id: IN302269) PMS SEBI Registration No.: INP (This information is the sole property of the trading member / brokerage house / depository participant and would not be disclosed to anyone unless required by law or except with the express permission of clients) ACCOUNT DETAILS (FOR OFFICE USE ONLY) Login ID DP ID Client ID Date : Online trading software: Yes No (If No) TT Dealer ID: Trading Interface: Trader Terminal Marketing Executive Code Branch Name Relationship Manager Code Branch/FAN Code HUB Wire ID: Audited by Scheme: Cash F&O Demat CDS I/ We wish to open a Trading and/or Demat Account with India Infoline Ltd. in my/ our name and in this regard the following information is furnished: STOCK EXCHANGE(S) & SEGMENT ON WHICH YOU WISH TO TRADE: NATIONAL STOCK EXCHANGE (NSE) Capital/Cash Segment Derivatives/F&O Segment Debt Segment Currency Derivatives Segment BOMBAY STOCK EXCHANGE (BSE) Capital/Cash Segment SECTION A - MANDATORY DOCUMENTS Login ID: TRADING cum CLEARING MEMBER DETAILS: Name: INDIA INFOLINE LTD. Address: IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane Tel.: / I/WE WISH TO USE ONLINE TRADING SOFTWARE FOR TRADING: YES NO Authorised Signatory 1 (Conditions as prescribed in Annexure A to Agreement. Demat Account required with IIFL) I/WE WISH TO RECEIVE CONTRACT NOTES AND OTHER DOCUMENTS: Physical Digital Authorised Signatory 2 *If Physical, please read Schedule of Charges carefully. (If Digital, Authorisation is required to be signed by Client) I/WE WISH TO HAVE SETTLEMENT OF MY ACCOUNT (SECURITIES & FUNDS) Authorised Signatory 3 ONCE IN A MONTH ONCE IN A QUARTER (Settlement amount shall be subject to retention of requisite securities/ funds towards outstanding obligations and margins in the client s account calculated in the manner specified by SEBI/ Exchange and details mentioned in the Statement of Account at the time of settlement) TRADING PREFERENCE Derivatives/F&O Segment Debt Segment MCX - STOCK EXCHANGE (MCX-SX) Currency Derivatives Segment Please tick and sign against only those segments in which you intend to trade

5 Login ID: ORGANISATION DETAILS (PLEASE FILL DETAILS IN BLOCK LETTERS) I/We request you to open trading and/or depository account in my/our name as per the following details : TYPE OF ENTITY: Body Corporate Bank FI FII OCB Registered Trust Clearing Member Mutual Fund Clearing House Other (please specify) Sub Status Name of the Company/ Firm Search Name Registered Office Address City Pin Code State Country Tel. Fax PAN IT Circle/ Ward/ District No. Correspondence Office Address City Pin Code State Country Tel. Fax PAN IT Circle/ Ward/ District No. Date of Incorporation D D M M Y Y Y Y Date of Commencement D D M M Y Y Y Y SEBI Registration date D D M M Y Y Y Y SEBI Registration No. (If Applicable) ROC Registration date D D M M Y Y Y Y ROC Registration No. (If Applicable) RBI Approval date D D M M Y Y Y Y RBI Registration No. (If Applicable) Nationality Indian Others (specify) Nature of Business : IN CASE OF FIIS/ OCBS/ OTHERS (as may be applicable) Foreign Address City Pin Code State Country Tel. Fax Indian Address City Pin Code State Country Tel. Fax RBI Reference No. RBI Approval Date: D D M M Y Y Y Y Currency Website Date of Incorporation : D D M M Y Y Y Y Date of Commencement of Business D D M M Y Y Y Y Registration No. (with ROC/ROF/ SEBI or any Govt. authority) Registration Date D D M M Y Y Y Y PAN IT Circle/ Ward/ District No. Nature of Business : UNIQUE CLIENT CODE DETAILS CLEARING MEMBERS DETAILS (To be filled by CMs only) Name of the Stock Exchange Name of the CC / CH Trading ID Clearing Member ID SEBI Regd. No. CM-BP ID (to be filled-up by participant) 4

6 Login ID: Details of where you wish to receive all correspondence including password: Mobile C O M P U L S O R Y ID C O M P U L S O R Y I/We declare that I/We have complied and will continue to comply with FEMA Regulation from time to time. Bank Name Branch Address AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY 15 BANK ACCOUNT DETAILS City PIN Code Tel. Bank A/c No. MICR No. A/c Type: Savings Current Cash Credit Others (specify) IFSC Code (Copy of a c\ancelled cheque leaf/pass book/bank statement containing name of the constituent should be submitted) DEPOSITORY ACCOUNT DETAILS 1. Depository Participant Name and Address (Through which transactions will generally be routed) DP ID 2. Depository Participant Name and Address (Default for Payout) BO Account Number: DP ID BO Account Number: STANDING INSTRUCTIONS I/We authorised you to receive each & every credits in my/our account without any instruction from me/us. (Automatic Credit) Yes No Account Statement Requirement: Daily Weekly Fortnightly Monthly (Default option is monthly)* Do you wish to receive dividend/interest directly to your bank account given herein through ECS? Yes No Account to be operated through Power of Attorney (PoA) Yes No *If Accounts statement require at shorter period (other than monthly), Beneficial Owner has to pay extra charges. ADDITIONAL DETAILS (for Demat A/c) 5 SMS ALERT FACILITY Yes Mobile No. +91 No Refer to Terms & Conditions given as ANNEXURE easi Yes. If yes, please contact your DP for details No [Facility through CDSL s Website: wherein a BO can view his ISIN balances, transactions and value of the portfolio online.] RISK PROFILE Based on the above investment objective please indicate your risk appetite CONSERVATIVE RISK MODERATE RISK AGGRESSIVE RISK Preservation of capital while A Balanced investment moderate growth, Maximise growth of assets with minimizing losses and fluctuations with tolerance mix of income and for corresponding tolerance for additional as much as possible. some risk and fluctuation risk and fluctuations.

7 Login ID: Name of the Broker(s) Address of the Broker Name of the Exchange Client Code No. Period of Continuance Reasons for Discontinuance (If any) PREVIOUS BROKER S DETAILS (If any) Are you still continuing: ACTION TAKEN Details of any action taken by SEBI/ Stock Exchange/ RBI/ Depository/IRDA/FMC/ any other Financial Regulatory/ authority against the constituent or its partners/ promoters/ whole time directors/ authorized persons in charge of dealing in securities for violation of securities laws/ other economic offences specially during last three years. Anyother Authority for violation of securities loss/ other economic offences YES NO Particulars Name of Authority Month & Year of Action INTRODUCER S DETAILS (COMPULSORY) EXISTING ACCOUNT HOLDER / BANK OFFICIAL / IIFL EMPLOYEE / ANY OTHER PERSON Introducer s Name: Address: Occupation: Tel.no.: DP ID: For existing client only Client ID: For existing client only Login ID: For existing client only PAN C O M P U L S O R Y Designation If bank employee Bank & Branch Name Employee Code: If bank employee If bank employee Id: Signature of the Introducer Verified: Signature of the DP Official IN PERSON VERIFICATION DETAILS INDIA INFOLINE LIMITED - CDSL DP ID: This is to certify that I have carried out in person verification in respect of client(s) mentioned in the KYC form submitted for opening of demat account. (Only the employee of the company should do in-person verification & no other person should sign the same) Name of the Employee Employee Code Branch/Authorised Service Centre Signature of Employee : Date AUTHORISED SIGNATORY Place AUTHORISED SIGNATORY AUTHORISED SIGNATORY 6

8 CUSTOMER PROFILE 1) FINANCIAL DETAILS: a) Income Range per Annum: Below Rs. 1,00,000 Rs. 1,00,001 to Rs.2,00,000 Rs. 2,00,001 to Rs. 5,00,000 Rs. 5,00,001 to Rs. 10,00,000 Rs. 10,00,001 to Rs. 25,00,000 More than Rs. 25,00,001 b) Networth: Rupees c) Proof of Financial Details (mandatory in case of Derivatives/ Currency) Copy of ITR acknowledgement Copy of annual accounts Copy of Form 16 Networth certificate salary slip bank account statement for last 6 months copy of demat account holding statement self declaration with supportings documents d) Stock Portfolio (Rs. in lacs) NIL < >50 e) Source of funds to open the Account: Salary Business Professional fees Savings Others (pls specify) 2) INVESTMENT/TRADING DETAILS: a) Experience: (i) in stocks yrs. (ii) in derivatives yrs. (iii) in other investment related field yrs. (iv) No prior experience b) Expected investments/ trading turnover on a monthly basis: up to Rs.10 lacs Rs. 10 lacs to Rs. 50 lacs more than Rs. 50 lacs c) Expected No. of transactions on a monthly basis: up to to 100 More than 100 d) Average size of transaction: up to Rs. 50,000 Rs. 50,000 to Rs. 1 lac More than Rs. 1 lac e) Purpose of opening the Account: Inherited/gift Investment Trading Arbitrage 3) OCCUPATION DETAILS: a. If employed: Service: Central Govt. State Govt. Public/Private Sector NGO Statutory Body Professional Business Student Retired Housewife Others (pls specify) If in Goverment Service, please specify: Civil Police/Enforcement Defence Services PSU If employed, Name of the Employer Address of the Employer Tel. No.: Fax No.: b. If Self-employed: Business Profession Other Nature of Business - (Products/ Services provided): Name & Address: 7 Tel. No.: c. NATURE OF ACTIVITY Fax No.: C&F Agent Manufacturer - Items Import/Export Wholesaler Manufactured business Securities Broking/ Marketing of Financial Foreign Exchange Software/ Technical Sub-broker Products Business Services Sales Promotion/ Advertising Retailer Lawyers/ Law Firms/ Chartered A/c Secretarial Firm Consultancy Services Solicitors Accounting Firms (Pl. Specify) Transport operators Public Figure (Politics, High Goverment officials in Power, Aspiring for power/ Close family members/ Associates) Travel Agencies Real Estate Brokers/ Agents Lottery Business Jewellery Business Construction Business Architect/ Interior Designer Fashion Business Business Hospitality/ Restaurant Agri-related Politically exposed persons Business of foreign origin FOR OFFICE PURPOSE ONLY CLIENT RISK CATEGORISATION: LOW RISK MEDIUM RISK HIGH RISK

9 DETAILS OF EACH OF THE PROMOTERS/ DIRECTORS/ KEY PERSONNEL (*Please use seperate sheet for details of each Promoters/ Wholetime Directors/ Persons Authorised to deal in Securities) 1 PERSONAL & PROFESSIONAL DETAILS OF PROMOTER(S) Full Name Residential Address First Middle Last Please sign across the Photograph City Pin Code Tel. Fax ID Mobile PAN IT Circle/ Ward/ District No. Educational Qualifications : Undergraduate Graduate Post-Graduate Others (Please specify) Designation Experience in years yrs. Your Equity Stake (%) 2 PERSONAL & PROFESSIONAL DETAILS OF WHOLETIME DIRECTORS Full Name First Middle Last Residential Address Please sign across the Photograph City Pin Code Tel. Fax ID Mobile PAN IT Circle/ Ward/ District No. Educational Qualifications : Undergraduate Graduate Post-Graduate Others (Please specify) Designation Experience in years yrs. Your Equity Stake (%) 3 NAME OF PERSONS AUTHORIZED TO DEAL IN SECURITIES ON BEHALF OF THE COMPANY/ FIRM/ OTHERS 1. Name of Person Residential Address First Middle Last Designation Mobile 2. Name of Person Residential Address ID Tel No. First Middle Last Designation Mobile 3. Name of Person Residential Address ID Tel No. First Middle Last Designation Mobile ID Tel No. 8

10 DECLARATION The Terms and Conditions pertaining to the India Infoline Trading Account & Beneficiary Account which are in force now, have been read by me/us. I/ We understood the same and I/ We agree to abide by and to be bound by the rules as are in force from time to time for such accounts. I/ We hereby declare that the details furnished above are true and correct to the best of my/ our knowledge and belief and I undertake to inform you of any changes there in immediately. I/ We confirm that First Holder is the sole signatory or authorised to operate the Trading Account. I/ We, am/ are agreeable to enter into the Client Agreement & give the Power of Attorney to facilitate you to meet obligation(s) & other dues pursuant to transactions done through India Infoline Trading Account. I/ We have read and understood Schedule of Charges and agree that my/ our opening of the India Infoline Trading and Beneficiary Account is subject to the payment of these charges. I/ We agree that the charges as stated herein may be modified/ revised and I/ We agree to pay the charges including any modification/revision thereto from time to time. I/We hereby agree to provide details to the Stock broker from time to time to comply with the guidelines of Prevention of Money Laundering Act. I/ We hereby confirm that I/We am/ are the beneficial owner of the Trading / Demat account opened with India Infoline Ltd. I/ We hereby authorise India Infoline Ltd., to debit all the Demat Account related charges to my/ our India Infoline Trading Account. I/ We have read the terms & conditions of DP-BO agreement and agree to abide by & be bound by the same and by the Bye Lawas as are in force from time to time. The rules and regulations of the Depository and Depository Participants pertaining to an account which are in force now have been read by me/ us and I/ We have understood the same and I/ We agree to abide by and to be bound by the rules as are in force from time to time for such accounts. I/ We also declare that the particulars given by me/ us are true to the best of my/ our knowledge as on the date of making such application. I/ We further agree that any false/ misleading/ untrue information given by me or suppression of any material fact will render my account liable for termination and further action. I/ We have not withheld any information. I/ We confirm that I/ We have had no insolvency initiated against me/us nor have I/ We ever been adjudicated insolvent. I/ We have read the application form and brochures and am/ are aware of all the terms and conditions of availing the said services from India Infoline Ltd. I/ We authorise India Infoline Ltd., any other Group Company or their agents to make reference and enquiries relating to the information in this application which may be considered necessary by them. I/ We undertake to inform immediately India Infoline Ltd., any other Group Company and their agents regarding changes in my/ our residence/employment and to provide any such further information as they may be required. I/ We agree that my/ our execution of any order shall be governed by and be subject to the terms provided in this Agreement and the Terms and Conditions as may directed from time to time. India Infoline Ltd. reserves the right to reject any order/ instructions/ declaration without providing reason for it whatsoever. NAME DESIGNATION SIGNATURE AUTHORISED SIGNATORY 17 AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY Please sign across the Photograph Please sign across the Photograph Please sign across the Photograph 18 9

11 To be stamped with Rs.20/- Stamp Paper Contains basic rights and obligations of client and Stock Broker BROKER/ CLIENT AGREEMENT - NSE This Agreement is made and executed at on this [ ] day of [ ] 20 between India Infoline Ltd. (herein after referred to as Stock Broker), a body corporate incorporated under the provisions of the companies act 1956 being a member of the National Stock Exchange of India Ltd. herein after called "The Exchange and having its registered office at INDIA INFOLINE LTD., IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane " and Processing Office at India Infoline Towers, No.143, M.G.R. Road, 3rd Floor, Central Processing Unit (CPU), Perungudi, Near Life Line Hospital, Chennai which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include himself in the capacity of a trading member while trading in the derivatives segment, his/ her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/ its successors, as the case may be, of the One Part; AND Mr./ Ms./ M/s [ ] an individual/ sole proprietory concern/ partnership firm/ body corporate duly formed and registered under the relevant Act, (herein after called the Client/Customer) having its residence address/ registered office at [ ] Which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include his/ her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/ its successors, as the case may be, of the other part. WHEREAS (Stock Brokers and Sub-Brokers) Regulations 1992 under 1.1 Stock Broker is a TRADING MEMBER of the National Registration No. INE Stock Exchange of India ( NSE ) on the Capital Market 1.4. Stock Broker is in the business of providing broking Segment and is registered with Securities and Exchange services including online broking services via the Internet Board of India ( SEBI ) under Securities and Exchange ( E-broking Services ) and has been permitted by the Board of India (Stock Brokers and Sub-Brokers) Rules NSE by way of Registration Permission No.: NSEIL/CMO/ 1992, having SEBI Registration No. INB in INET/1103/ 2000 dated 03/July/2000. the Capital Market/ Cash segment and SEBI registration 1.5. The Client is desirous of investing/ trading including via no. INF in the Futures and Options segment the Internet in those dematerialised securities admitted with Member Code & having MAPINUID No. for dealing on the Stock Exchange(s) as provided in the [E-broking Rules/ Regulations/ Byelaws] of the relevant 1.2 Stock Broker is a TRADING & CLEARING MEMBER of Stock Exchange and circulars issued thereunder from the NSE on the Derivatives Market Segment and is time to time. registered with SEBI under Regulation 16D of the SEBI 1.6. Whereas the Client has satisfied itself of the capacity of (Stock Brokers and Sub-Brokers) Regulations 1992 under the Stock Broker to deal in securities and/ or deal in Registration No. INF derivatives contracts including Currency Derivatives and 1.3. Stock Broker is a TRADING & CLEARING MEMBER of wishes to execute its orders through the Stock Broker the NSE on the Currency Market Segment and is and the Client shall from time to time continue to satisfy registered with SEBI under Regulation 16D of the SEBI Continued on page 11 10

12 itself of such capability of the Stock Broker before executing orders through the Stock Broker The Client has satisfied itself of the capability of Stock Broker to provide E-broking Services and the Client shall continue to satisfy itself of suchcapability of Stock Broker before executing orders through Stock Broker Stock Broker has satisfied and shall continuously satisfy itself about the genuineness and soundness of the Client and investment objectives relevant to the services to be provided Stock Broker has taken steps and shall take steps to make the Client aware of the precise nature of Stock Broker s liability for business to be conducted, including any limitations on that liability under the capacity in which it acts Stock Broker shall at its discretion, offer trading/ investing facilities in all the available segments at the concerned Exchanges on the Internet. WHEREAS the Stock Broker and the Client agrees to be bound by all the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder and Rules and Regulations of SEBI and relevant notifications of Government authorities as may be in force from time to time. Now, therefore, in consideration of the mutual understanding as set forth in this agreement, the parties thereto have agreed to the following Terms and Conditions: 2. The Client agrees to immediately notify Stock Broker in writing if there is any change in the information in the Client Registration Form provided by the Client to Stock Broker at the time of opening of the account or at any time thereafter. 3. Stock Broker declares that it has brought the contents of the risk disclosure document to the notice of Client and made him aware of the significance of the said document. The Client agrees that: a. He/ She has read and understood the risks involved in trading on a Stock Exchange. b. He/ She shall be wholly responsible for all his/ her investment decisions and trades. c. The failure of the Client to understand the risk involved shall not render a contract as void or voidable and the Client shall be and shall continue to be responsible for all the risks and consequences for entering into trades in the segments in which the Client chose to trade. d. He/ She is liable to pay applicable initial margins, with holding 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 11 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. e. Payment of margins by the Client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the Client may, on the closing of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require. 4. The Client agrees to pay to 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. Stock Broker agrees that it shall not charge brokerage more than the maximum brokerage permissible as per the rules, regulations and bylaws of the relevant Stock Exchange/ SEBI. 5. The Client agrees to abide by the exposure limits, if any, set by Stock Broker or by the Exchange or Clearing Corporation or SEBI from time to time. 6. Without prejudice to the Stock Broker s other rights (including the right to refer a matter to arbitration), Stock Broker shall be entitled to liquidate/close out all or any of the Client s positions for nonpayment 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/closingout shall be charged to and borne by the Client. 7. Stock Broker agrees that the money/ securities deposited by the Client shall be kept in a separate account, distinct from his/ her/ its own account or account of any other Client and shall not be used by Stock Broker for himself/ itself or for any other Client or for any purpose other than the purposes mentioned in SEBI Rules and Regulations Circulars/ Guidelines/ Exchanges Rules/ Regulations/ Byelaws and circular. 8. The Client agrees to immediately furnish information to Stock Broker in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against him or if any litigation which may have material bearing on his/her capacity has been filed against him. 9. Stock Broker agrees to inform the Client and keep him apprised about trading/ settlement cycles, delivery/ payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the Client to comply with such schedules/ procedures of the relevant Stock Exchange. 10. In the event of death or insolvency of the Client or his/ her/ its otherwise becoming incapable of receiving and Continued on page 12

13 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/ her successors, heirs and assigns shall be entitled to any surplus which may result there from. 11. Stock Broker agrees that it shall co-operate in redressing grievances of the Client in respect of transactions routed through it and in removing objections for bad delivery of shares, rectification of bad delivery, etc. in respect of shares and securities delivered/to be delivered or received/to be received by the Client. 12. Stock Broker shall continue to be responsible for replacing bad deliveries of the Client in accordance with applicable Good & bad delivery norms even after termination of the agreement and shall be entitled to recover any loss incurred by him in such connection from the Client. 13. Stock Broker shall ensure due protection to the Client regarding Client s rights to dividends, rights or bonus shares, etc. in respect of transactions routed through it and it shall not do anything which is likely to harm the interest of the Client with whom and for whom it may have had transactions in securities. 14. The Client and Stock Broker agrees to refer any claims and/ or disputes to arbitration as per the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder as may be in force from time to time. 15. Stock Broker hereby agrees that he/ she shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered into between him and the Client and that he/ she shall be liable to implement the arbitration awards made in such proceedings. 16. Information about default in payment/ delivery and related aspects by a Client shall be brought to the notice of the relevant Stock Exchange(s). In case where defaulting Client is a corporate entity/ partnership/ proprietary firm or any other artificial legal entity, then the name(s) of director(s)/ promoter(s)/ partner(s)/ proprietor as the case may be, shall also be communicated to the relevant Stock Exchange(s). 17. Stock Broker and the Client agrees to reconcile their accounts at the end of each quarter with reference to all the settlements where payouts have been declared during the quarter. 18. Stock Broker and the Client agrees to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, Stock Broker and the Client declare and agrees that the transactions executed on the Exchange are subject to Rules, Byelaws and Regulations and circulars issued thereunder of the Exchange and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Byelaws and Regulations of the Exchange for the purpose of giving effect to the provisions of the Rules, Byelaws and Regulations of the Exchange and the circulars issued thereunder. 20. The instructions issued by an authorised representative, if any, of the Client shall be binding on the Client in accordance with the letter authorising the said representative to deal on behalf of the said Client. 21. Where the Exchange cancels trade(s) suo moto all such trades including the trades done on behalf of the Client shall ipso facto stand cancelled. 22. This agreement shall forthwith terminate; if Stock Broker for any reason ceases to be a member of the Stock Exchange including cessation of membership by reason of the Stock Broker default, death, resignation or expulsion or if the certificate issued by the Board is cancelled. 23. Stock Broker and the Client shall be entitled to terminate this agreement without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this agreement shall continue to subsist and vest in/ be binding on the respective parties or his/ her/ its respective heirs, executors, administrators, legal representatives or successors, as the case may be. 24. In addition to the specific rights set out in this Agreement, Stock Broker and the Client shall be entitled to exercise any other rights which Stock Broker or the Client may have under the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder or Rules and Regulations of SEBI. 25. Words and expressions which are used in this Agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder. 26. The provisions of this agreement shall always be subject to Government notifications, any rules, regulations, guidelines and circulars issued by SEBI and Rules, Regulations and Bye laws of the relevant Stock Exchange that may be in force from time to time. 27. Stock Broker hereby undertakes to maintain the details of the Client as mentioned in the Client registration form or any other information pertaining to the Client in confidence and that it shall not disclose the same to any person/ authority except as required under any law/ regulatory requirements; Provided however that Stock Broker may so disclose information about its his/ her Client to any person or authority with the express permission of the Client. Continued on page 13 12

14 Terms and conditions mentioned above can be altered, amended and/ or modified by the parties mutually in writing without derogating from the contents of this Agreement. Provided however, if the rights and obligations of the parties hereto are altered by virtue of change in Rules and regulations of SEBI or Bye-laws, Rules and Regulations of the relevant Stock Exchange, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this agreement. Provided further that Stock Broker may communicate any changes to the agreement in writing or electronic form to the Client. Such changes are binding on the Client if no objection has been received by the Stock Broker within 30 days from the date of such such communication. The Parties agree that the above clauses are as per Model agreement between Stock Broker and Client prescribed by SEBI vide its circular number SEBI/MIRSD/DPS-1/Cir- 31/2004 dated August 26, Besides, this agreement includes the clauses as mentioned in Annexure - A which are desirable to ensure smooth functioning of trading and settlement and to ensure the transparency of the relation between the Client and the Stock Broker. The annexed clauses are optional and the Client is at liberty to strike off any of the clauses which are not applicable to him. However such striking out will not invalidate the agreement or render it void in any manner. IN WITNESS WHEREOF the parties to agreement have caused these presents to be executed as of the date and year first above written. SIGNED FOR AND ON BEHALF OF INDIA INFOLINE LTD. SIGNED ON BEHALF OF CLIENT By: Title: SIGNATURE: By: SIGNATURE: Title: INDIA INFOLINE LTD. NAME OF THE CLIENT DETAILS OF THE WITNESS ON BEHALF OF IIFL ON BEHALF OF CLIENT Names of Witness-1 Address of witness-1 Signature of Witness-1 Names of Witness-2 Address of witness-2 Signature of Witness-2 13

15 To be stamped with Rs.20/- Stamp Paper Contains basic rights and obligations of client and Stock Broker BROKER-CLIENT AGREEMENT - BSE This Agreement is made and executed at on this [ ] day of [ ] 20 between India Infoline Ltd. (herein after referred to as Stock Broker), a body corporate incorporated under the provisions of the companies act 1956 being a member of the Bombay Stock Exchange herein after called "The Exchange and having its registered office at INDIA INFOLINE LTD., IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane " and Processing Office at India Infoline Towers, No.143, M.G.R. Road, 3rd Floor, Central Processing Unit (CPU), Perungudi, Near Life Line Hospital, Chennai which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include himself in the capacity of a trading member while trading in the derivatives segment, his/ her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/ its successors, as the case may be, of the One Part; AND Mr./Ms./M/s [ ] an individual/sole proprietory concern/partnership firm/ body corporate duly formed and registered under the relevant Act, (herein after called the Client/Customer) having its residence address/ registered office at [ ] Which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include his/ her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/ its successors, as the case may be, of the other part. 1.1 Stock Broker is a TRADING MEMBER of Bombay Stock Exchange Limited (BSE) on the Capital Market Segment and F&O segment is registered with Securities and Exchange Board of India ( SEBI ) under Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Rules 1992, having SEBI Registration No. INB in the Capital Market/ Cash segment and SEBI registration no. INF in the Futures and Options segment with clearing no. 179 & having MAPIN UID No Stock Broker is in the business of providing broking services including online broking services via the Internet ( E-broking Services ). 1.3 The Client is desirous of investing/ trading including via the Internet in those dematerialised securities admitted for dealing on the Stock Exchange(s) as provided in the [E-broking Rules/ Regulations/ Byelaws] of the relevant Stock Exchange and circulars issued thereunder from time to time. 1.4 Whereas the Client has satisfied 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 The Client has satisfied itself of the capability of Stock Broker to provide E-broking Services and the Client shall continue to satisfy itself of such capability of Stock Broker before executing orders through Stock Broker. 1.6 Stock Broker has satisfied and shall continuously satisfy itself about the genuineness and soundness of the Client and investment objectives relevant to the services to be provided. 1.7 Stock Broker has taken steps and shall take steps to make the Client aware of the precise nature of STOCK Continued on page 15 14

16 BROKER s liability for business to be conducted, including any limitations on that liability under the capacity in which it acts. 1.8 Stock Broker shall at its discretion, offer trading/ investing facilities in all the available segments at the concerned Exchanges on the Internet. WHEREAS the Stock Broker and the Client agrees to be bound by all the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder and Rules and Regulations of SEBI and relevant notifications of Government authorities as may be in force from time to time. Now, therefore, in consideration of the mutual understanding as set forth in this agreement, the parties thereto have agreed to the following Terms and Conditions: 2. The Client agrees to immediately notify Stock Broker in writing if there is any change in the information in the Client Registration Form provided by the Client to Stock Broker at the time of opening of the account or at any time thereafter. 3. Stock Broker declares that it has brought the contents of the risk disclosure document to the notice of Client and made him aware of the significance of the said document. The Client agrees that: a. He/ She has read and understood the risks involved in trading on a Stock Exchange. b. He/ She shall be wholly responsible for all his/ her investment decisions and trades. c. The failure of the Client to understand the risk involved shall not render a contract as void or voidable and the Client shall be and shall continue to be responsible for all the risks and consequences for entering into trades in the segments in which the Client chose to trade. d. He/ She is liable to pay applicable initial margins, with holding 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. e. Payment of margins by the Client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the Client may, on the closing of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/ require. 4. The Client agrees to pay to Stock Broker brokerage and 15 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. Stock Broker agrees that it shall not charge brokerage more than the maximum brokerage permissible as per the rules, regulations and bylaws of the relevant Stock Exchange/ SEBI. 5. The Client agrees to abide by the exposure limits, if any, set by Stock Broker or by the Exchange or Clearing Corporation or SEBI from time to time. 6. Without prejudice to the Stock Broker s other rights (including the right to refer a matter to arbitration), Stock Broker shall be entitled to liquidate/ close out all or any of the Client s positions for nonpayment 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/ closingout shall be charged to and borne by the Client. 7. Stock Broker agrees that the money/ securities deposited by the Client shall be kept in a separate account, distinct from his/ her/ its own account or account of any other Client and shall not be used by Stock Broker for himself/ itself or for any other Client or for any purpose other than the purposes mentioned in SEBI Rules and Regulations Circulars/ Guidelines/ Exchanges Rules/ Regulations/ Byelaws and circulars. 8. The Client agrees to immediately furnish information to Stock Broker in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against him or if any litigation which may have material bearing on his/ her capacity has been filed against him. 9. Stock Broker agrees to inform the Client and keep him apprised about trading/ settlement cycles, delivery/ payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the Client to comply with such schedules/ procedures of the relevant Stock Exchange. 10. In the event of death or insolvency of the Client or his/ her/ its otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the Client has ordered to be bought or sold, 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/ her successors, heirs and assigns shall be entitled to any surplus which may result there from. 11. Stock Broker agrees that it shall co-operate in redressing grievances of the Client in respect of transactions routed through it and in removing objections for bad delivery of shares, rectification of bad delivery, etc. in respect of shares and securities delivered/ to be delivered or Continued on page 16

17 received/ to be received by the Client. 12. Stock Broker shall continue to be responsible for replacing bad deliveries of the Client in accordance with applicable Good & bad delivery norms even after termination of the agreement and shall be entitled to recover any loss incurred by him in such connection from the Client. 13. Stock Broker shall ensure due protection to the Client regarding Client s rights to dividends, rights or bonus shares, etc. in respect of transactions routed through it and it shall not do anything which is likely to harm the interest of the Client with whom and for whom it may have had transactions in securities. 14. The Client and Stock Broker agrees to refer any claims and/ or disputes to arbitration as per the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder as may be in force from time to time. 15. Stock Broker hereby agrees that he/ she shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered into between him and the Client and that he/ she shall be liable to implement the arbitration awards made in such proceedings. 16. Information about default in payment/ delivery and related aspects by a Client shall be brought to the notice of the relevant Stock Exchange(s). In case where defaulting Client is a corporate entity/ partnership/ proprietary firm or any other artificial legal entity, then the name(s) of director(s)/ promoter(s)/ partner(s)/ proprietor as the case may be, shall also be communicated to the relevant Stock Exchange(s). 17. Stock Broker and the Client agrees to reconcile their accounts at the end of each quarter with reference to all the settlements where payouts have been declared during the quarter. 18. Stock Broker and the Client agrees to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, Stock Broker and the Client declare and agrees that the transactions executed on the Exchange are subject to Rules, Byelaws and Regulations and circulars issued thereunder of the Exchange and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Bye-laws and Regulations of the Exchange for the purpose of giving effect to the provisions of the Rules, Byelaws and Regulations of the Exchange and the circulars issued thereunder. 20. The instructions issued by an authorised representative, if any, of the Client shall be binding on the Client in accordance with the letter authorising the said representative to deal on behalf of the said Client. 21. Where the Exchange cancels trade(s) suo moto all such trades including the trades done on behalf of the Client shall ipso facto stand cancelled. 22. This agreement shall forthwith terminate; if Stock Broker for any reason ceases to be a member of the Stock Exchange including cessation of membership by reason of the Stock Broker default, death, resignation or expulsion or if the certificate issued by the Board is cancelled. 23. Stock Broker and the Client shall be entitled to terminate this agreement without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this agreement shall continue to subsist and vest in/ be binding on the respective parties or his/ her/ its respective heirs, executors, administrators, legal representatives or successors, as the case may be. 24. In addition to the specific rights set out in this Agreement, Stock Broker and the Client shall be entitled to exercise any other rights which Stock Broker or the Client may have under the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder or Rules and Regulations of SEBI. 25. Words and expressions which are used in this Agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Byelaws and Regulations of the Exchange and circulars issued thereunder. 26. The provisions of this agreement shall always be subject to Government notifications, any rules, regulations, guidelines and circulars issued by SEBI and Rules, Regulations and Bye laws of the relevant Stock Exchange that may be in force from time to time. 27. Stock Broker hereby undertakes to maintain the details of the Client as mentioned in the Client registration form or any other information pertaining to the Client in confidence and that it shall not disclose the same to any person/ authority except as required under any law/ regulatory requirements; Provided however that Stock Broker may so disclose information about its his/ her Client to any person or authority with the express permission of the Client. Terms and conditions mentioned above can be altered, amended and/ or modified by the parties mutually in writing without derogating from the contents of this Agreement. Provided however, if the rights and obligations of the parties hereto are altered by virtue of change in Rules and regulations of SEBI or Bye-laws, Rules and Regulations of the relevant Stock Exchange, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this agreement. Provided further that Stock Broker may communicate Continued on page 17 16

18 any changes to the agreement in writing or electronic form to the Client. Such changes are binding on the Client if no objection has been received by the Stock Broker within 30 days from the date of such communication. The Parties agree that the above clauses are as per Model agreement between Stock Broker and Client prescribed by SEBI vide its circular number SEBI/MIRSD/ DPS-1/Cir-31/2004 dated August 26, Besides, this agreement includes the clauses as mentioned in Annexure - A which are desirable to ensure smooth functioning of trading and settlement and to ensure the transparency of the relation between the Client and the Stock Broker. The annexed clauses are optional and the Client is at liberty to strike off any of the clauses which are not applicable to him. However such striking out will not invalidate the agreement or render it void in any manner. IN WITNESS WHEREOF the parties to agreement have caused these presents to be executed as of the date and year first above written. SIGNED FOR AND ON BEHALF OF INDIA INFOLINE LTD. SIGNED ON BEHALF OF CLIENT By: SIGNATURE: By: SIGNATURE: Title: INDIA INFOLINE LTD. 3 7 Title: NAME OF THE CLIENT 20 DETAILS OF THE WITNESS ON BEHALF OF IIFL ON BEHALF OF CLIENT Names of Witness-1 Address of witness-1 Signature of Witness-1 Names of Witness-2 Address of witness-2 Signature of Witness-2 17

19 To be stamped with Rs.20/- Stamp Paper Contains basic rights and obligations of client and Stock Broker BROKER-CLIENT AGREEMENT - MCX-SX This Agreement is made and executed at on this [ ] day of [ ] 20 between India Infoline Limited a body corporate, incorporated under the provisions of the Indian Partnership Act, 1932 / the Companies Act, 1956, being a member of the MCX Stock Exchange Ltd. (hereinafter called "the Exchange"), and having his/ her/ its registered office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane and Processing Office at India Infoline Towers, No.143, M.G.R. Road, 3rd Floor, Central Processing Unit (CPU), Perungudi, Near Life Line Hospital, Chennai (hereinafter called "the trading member") which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include himself in the capacity of a trading member while trading in the Currency Derivatives Segment, his/her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successors, as the case may be, of the One Part; And Mr./Ms/M/s., an individual/ a sole proprietary concern/ a partnership firm/a body corporate, registered/ incorporated, under the provisions of the Indian Partnership Act, 1932/ the Companies Act, 1956, having his/ her/ its residence/ registered office at (hereinafter called "the client") which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include his/ her heirs, executors, administrators and legal representatives/ the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/ its successors, as the case may be, of the Other Part. Whereas the trading member is registered as the trading member of the Exchange with SEBI registration number INE in the Currency Derivatives Segment. A. Whereas the client is desirous of investing/ trading in those securities/ contracts/ other instruments admitted to dealings on the Exchange as defined in the Rules, Byelaws and Regulations of the Exchange and circulars issued there under from time to time. B. Whereas the client has satisfied itself of the capacity of the trading member to deal in securities and/ or deal in equity/ currency derivatives contracts and wishes to execute its orders through the trading member and the client shall from time to time continue to satisfy itself of such capability of the trading member before executing orders through the trading member. C. Whereas the trading member has satisfied and shall continuously satisfy itself about the genuineness and financial soundness of the client and investment / trading objectives relevant to the services to be provided; and D. Whereas the trading member has taken steps and shall take steps to make the client aware of the precise nature of the trading member's liability for business to be conducted, including any limitations, the liability and the capacity in which the trading member acts. E. Whereas the trading member and the client agree to be bound by all the Rules, Byelaws and Regulations of Continued on page 19 18

20 19 the Exchange and circulars issued there under and Rules and Regulations of SEBI and relevant notifications of Government authorities as may be in force from time to time. Now, therefore, in consideration of the mutual understanding as set forth in this agreement, the parties thereto have agreed to the following terms and conditions: 1. The client agrees to immediately notify the trading member in writing if there is any change in the information in the 'client registration form' provided by the client to the trading member at the time of opening of the account or at any time thereafter. 2. The trading member declares that it has brought the contents of the risk disclosure document to the notice of client and made him aware of the significance of the said document. The client agrees that: a) He has read and understood the risks involved in trading on the Exchange. b) He shall be wholly responsible for all his decisions and trades. c) The failure of the client to understand the risks involved shall not render a contract as void or voidable and the client shall be and shall continue to be responsible for all the risks and consequences for entering into trades in the segment. d) He is liable to pay applicable initial margins, holding margins, special margins or such other margins as are considered necessary by the trading member or the Exchange or as may be directed by SEBI from time to time as applicable to the segment. The trading member is permitted in its sole and absolute discretion to collect additional margins (even though not required by the Exchange, Clearing House/ Clearing Corporation or SEBI) and the client shall be obliged to pay such margins within the stipulated time. e) Payment of margins by the client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the client may, on the closing of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/ require. 3. The Client agrees to pay to the trading member brokerage and statutory levies as are prevailing from time to time and as they apply to the Client's account, transactions and to the services that trading member renders to the Client. 4. The trading member agrees that it shall not charge brokerage more than the maximum brokerage permissible as per the rules, regulations and bye -laws of the Exchange/ SEBI. 5. The client agrees to abide by the exposure limits, if any, set by the trading member or by the Exchange or Clearing House/ Clearing Corporation or SEBI from time to time. 6. Without prejudice to the trading member's other rights (including the right to refer a matter to arbitration), the trading member shall be entitled to liquidate/ close out all or any of the client's positions for non-payment of margins or other amounts, outstanding debts, etc. and adjust the proceeds of such liquidation/ close out, if any, against the client's liabilities/ obligations. Any and all losses and financial charges on account of such liquidation/closing-out shall be charged to and borne by the client. 7. The trading member agrees that the money/ securities deposited by the client shall be kept in a separate account, distinct from his/ its own account or account of any other client and shall not be used by the trading member for himself/ itself or for any other client or for any purpose other than the purposes mentioned in SEBI Rules and Regulations circulars/ guidelines/ the Exchange's Rules/ Regulations/ Byelaws and circulars. 8. The client agrees to immediately furnish information to the trading member in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against him or if any litigation which may have material bearing on his capacity has been filed against him. 9. The trading member agrees to inform the client and keep him apprised about trading/ settlement cycles, delivery/ payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the client to comply with such schedules/ procedures of the Exchange. 10. In the event of death or insolvency of the client or his/ its otherwise becoming incapable of receiving and paying for any contracts which the client has ordered to be bought or sold, or of delivering or transferring securities, the trading member may close out the transaction of the client and claim losses, if any, against Continued on page 20