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

Transcription

1

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

21 the estate of the client. The client or his successors, heirs and assigns shall be entitled to any surplus which may result there from. 11. The client and the trading member agree to refer any claims and/ or disputes to arbitration as per the Rules, Byelaws and Regulations of the Exchange and circulars issued there under as may be in force from time to time. 12. The trading member hereby agrees that he shall ensure faster settlement of any arbitration proceedings arising out of the transactions entered into between him and the client and that he shall be liable to implement the arbitration awards made in such proceedings. 13. Information about default in payment/ delivery and related aspects by a client shall be brought to the notice of the 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 Exchange(s). 14. The trading member and the client agree to reconcile their accounts at the end of each quarter with reference to all the settlements where payouts have been declared during the quarter. 15. The trading member and the client agree to abide by any award passed by the Ombudsman under the SEBI (Ombudsman) Regulations, The trading member and the client declare and agree that the transactions executed on the Exchange are subject to Rules, Byelaws and Regulations and circulars issued there under of the Exchange and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Byelaws and Regulations of the Exchange for the purpose of giving effect to the provisions of the Rules, Byelaws and Regulations of the Exchange and the circulars issued there under. 17. The instructions issued by an authorized representative, if any, of the client shall be binding on the client in accordance with the letter authorizing the said representative to deal on behalf of the said client. 18. Where the Exchange cancels trade(s) suo moto all such trades including the trade/s done on behalf of the client shall ipso facto stand cancelled. 19. This agreement shall forthwith terminate; if the trading member for any reason ceases to be a member of the Exchange including cessation of membership by reason of the trading member's default, death, resignation or expulsion or if the certificate issued by the Board is cancelled. 20. The trading member and the client shall be entitled to terminate this agreement without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to the termination of this agreement shall continue to subsist and vest in/ be binding on the respective parties or his/ its respective heirs, executors, administrators, legal representatives or successors, as the case may be. 21. In addition to the specific rights set out in this Agreement, the trading member and the client shall be entitled to exercise any other rights which the trading member or the client may have under the Rules, Bye-laws and Regulations of the Exchange and circulars issued there under or Rules and Regulations of SEBI. 22. Words and expressions which are used in this Agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Byelaws and Regulations of the Exchange and circulars issued there under. 23. The provisions of this agreement shall always be subject to Government notifications, any rules, regulations, guidelines and circulars issued by SEBI and Rules, Regulations and Bye laws of the Exchange that may be in force from time to time. 24. The trading member hereby undertakes to maintain the details of the client as mentioned in the client registration form or any other information pertaining to the client in confidence and that it shall not disclose the same to any person/ authority except as required under any law/ regulatory requirements; Provided however that the trading member may so disclose information about its his client to any person or authority with the express permission of the client. This agreement can be altered, amended and/ or modified by the parties mutually in writing without derogating from the contents of this Agreement. Continued on page 21 20

22 Provided however, if the rights and obligations of the parties here to are altered by virtue of change in Rules and regulations of SEBI or Bye-laws, Rules and Regulations of the Exchange, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this agreement. IN WITNESS 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. 4 7 Authorised Signatory: Client Name: Client Signature: SIGNED ON BEHALF OF CLIENT 21 Witness 1 on behalf of IIFL Name Address Witness 1 on behalf of Client Name Address Signature Signature Witness 2 on behalf of IIFL Name Address Witness 2 on behalf of Client Name Address Signature Signature Note: All references to the specific quantity/rate/fee mentioned in this agreement are subject to change from time to time, as so agreed to in writing between the parties. 21

23 COMBINED RISK DISCLOSURE DOCUMENT FOR CAPITAL MARKET, FUTURES & OPTIONS AND CURRENCY DERIVATIVES SEGMENTS (BSE, NSE & MCX-SX) Contains indicative list of risks involved in trading and also client's rights and obligations. This document is issued by the member of the National Stock Exchange of India (NSE)/ Bombay Stock Exchange Limited (BSE)/ MCX - Stock Exchange (MCX-SX) which has been formulated by the Exchanges in coordination with the Securities and Exchange Board of India (hereinafter referred to as "SEBI") and contains important information on trading in Equities/ F&O/ Currency Derivatives Segments of NSE/BSE/ MCX-SX. All prospective constituents should read this document before trading in Equities-Capital market/ Cash/ F&O/ Currency Derivatives Segments of the Exchange. NSE/ BSE/ MCX-SX/ 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 has NSE/ BSE/ MCX-SX/ 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 contractual 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,F&O contracts, Currency derivatives contracts or other instruments traded on the Stock Exchange(s), 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 NSE/ BSE/ MCX-SX and suffer adverse consequences or loss, you shall be solely responsible for the same and NSE/ BSE/ MCX-SX, its Clearing Corporation/Clearing House and/ or SEBI shall not be responsible, in any manner whatsoever, for the same and it will not be open for you to take a plea that no adequate disclosure regarding the risks involved was made or that you were not explained the full risk involved by the concerned member. The constituent shall be solely responsible for the consequences and no contract can be rescinded on that account. You must acknowledge and accept that there can be no guarantee of profits or no exception from losses while executing orders for purchase and/or sale of a security/ derivative/currency derivative contract being traded on NSE/ BSE/ MCX-SX. It must be clearly understood by you that your dealings on NSE/BSE/MCX-SX through a member shall be subject to your fulfilling certain formalities set out by the member, which may inter alia include your filling the know your client form, client registration form, execution of an agreement, etc., and are subject to the Rules, Byelaws and Regulations of NSE/BSE/MCX-SX and its Clearing Corporation/Clearing House, guidelines prescribed by SEBI and in force from time to time and Circulars as may be issued by NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House and in force from time to time. NSE/BSE/MCX-SX does not provide or purport to provide any advice and shall not be liable to any person who enters into any business relationship with any trading member of NSE/ BSE/MCX-SX and/or any third party based on any information contained in this document. Any information contained in this document must not be construed as business advice/ investment advice. No consideration to trade should be made without thoroughly understanding and reviewing the risks involved in such trading. If you are unsure, you must seek 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 INVOLVED IN TRADING ON THE STOCK EXCHANGE (EQUITY AND OTHER INSTRUMENTS) 1.1 Risk of Higher Volatility: Volatility refers to the dynamic changes in price that a security / F&O contract / currency derivatives contract undergoes when trading activity continues on the Stock Exchange. Generally, higher the volatility of a security / F&O contract / currency derivatives contract, greater is its price swings. There may be normally greater volatility in thinly traded securities / F&O contracts / currency derivatives contracts than in active securities / F&O contracts / currency 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 / F&O contracts / currency 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/ F&O contracts / currency 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 / F&O contracts / currency derivatives contracts purchased or sold. There may be a risk of lower liquidity in some securities / F&O contracts / currency derivatives contracts as compared to active securities / F&O 22 22

24 contracts / currency 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 Buying or selling securities / F&O contracts / currency derivatives contracts without intention of giving and/ or taking delivery of securities / F&O contracts/ currency derivatives, as part of a day trading strategy may also result into losses, because in such a situation, securities/ F&O contracts/ currency 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/ F&O contract/ currency 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/ F&O contract/ currency 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 / F&O contracts / currency derivatives contracts. This in turn will hamper better price formation. 1.4 Risk-reducing orders: Most Exchanges have a facility for invetors to place "limit orders", "stop loss orders" etc. The placing of such orders (e.g., "stop loss" orders, or "limit" orders) which are intended to limit losses to certain amounts may not be effective many a time because rapid movement in market conditions may make it impossible to execute such orders 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 / F&O contract/ currency derivatives contract 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 A stop loss order is generally placed "away" from the current price of a stock / F&O contract / currency derivatives contract, and such order gets activated if and when the security/ F&O contract/ currency 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/ F&O contract/ currency derivatives 23 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/ F&O contract / currency 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: Issuers make News announcements that may impact the price of stock/ F&O contract/ currency derivatives contract. These announcements may occur during trading, and when combined with lower liquidity and higher volatility, may suddenly cause an unexpected positive or negative movement in the price of the security/ contract. 1.6 Risk of Rumours: Rumours about companies / 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 rumours. 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 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 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/ F&O contract/ currency derivatives contract due to any action on account of unusual trading activity or security/ F&O contract/ currency derivatives contract hitting circuit filters or for any other reason. 1.8 System/Network Congestion: Trading on NSE/BSE/MCX-SX is in electronic mode, based on 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 of 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 23

25 although these problems may be temporary in nature, but when you have outstanding open positions or unexecuted orders, these represent a risk because of your obligations to settle all executed transactions. 2. As far as Futures and Options segment and Currency 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 principal investment amount/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 involves daily settlement of all positions. Every day the open positions are marked to market based on the closing level of the index / F&O contract / currency derivatives contract. If the index/contract has moved against you, you will be required to deposit the amount of loss (notional) resulting from such movement. This amount/ margin 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 margin/ amount by the deadline or if an outstanding debt occurs in your account, the broker/member may liquidate a part of or the whole position or substitute securities. In this case, you will be liable for any losses incurred due to such close-outs. C. Under certain market conditions, an investor may find it difficult or impossible to execute 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 F&O contracts/ currency 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. Currency prices are highly volatile. Price movements for currencies are influenced by, among other things: changing supply-demand relationships; trade, fiscal, monetary, exchange control programs and policies of governments; foreign political and economic events and policies; changes in national and international interest rates and inflation; currency devaluation; and sentiment of the market place. None of these factors can be controlled by any individual advisor and no assurance can be given that an advisor's advice will result in profitable trades for a participating customer or that a customer will not incur losses from such events. 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 Exchange 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 24 24

26 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. GENERAL 3.1 Commission and other charges Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss. 3.2 Deposited cash and property You should familiarise yourself with the protections accorded to the money or other property you deposit particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which has been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. In case of any dispute with the member, the same shall be subject to arbitration as per the byelaws/regulations of the Exchange. 3.3 For rights and obligations of the clients, please refer to Annexure-1 enclosed with this document. 3.4 The term 'constituent' shall mean and include a client, a customer or an investor, who deals with a member for the purpose of acquiring and/or selling of securities/derivatives/currency derivatives contracts through the mechanism provided by NSE/BSE/MCX-SX. 3.5 The term 'member' shall mean and include a trading member, a broker or a stock broker, who has been admitted as such by NSE/BSE/MCX-SX and who holds a registration certificate as a stock broker from SEBI. I hereby acknowledge that I have received and understood this risk disclosure statement and Annexure-1 containing my rights and obligations. Client Signature 25 (If Partner, Corporate, or other Signatory, then attest with company seal) Date: 25 ANNEXURE-1 INVESTORS' RIGHTS AND OBLIGATIONS: 1.1 You should familiarise yourself with the protection accorded to the money or other property you may deposit with your member, particularly in the event of a default in the Cash Market / F&O market / Currency Derivatives segment of Stock market or the broking firm's insolvency or bankruptcy Please ensure that you have a documentary proof of your having made deposit of such money or property with the member, stating towards which account such money or property deposited Further, it may be noted that the extent to which you may recover such money or property may be governed by the Bye-laws and Regulations of NSE/ BSE/MCX-SX and the scheme of the Investors' Protection Fund in force from time to time Any dispute with the member with respect to deposits, margin money, etc., and producing an appropriate proof thereof, shall be subject to arbitration as per the Rules, Byelaws/Regulations of NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House. 1.2 Before you begin to trade, you should obtain a clear idea from your member of all brokerage, commissions, fees and other charges which will be levied on you for trading. These charges will affect your net cash inflow or outflow. 1.3 You should exercise due diligence and comply with the following requirements of the NSE/BSE/MCX- SX and/or SEBI: Please deal only with and through SEBI registered members of the Stock Exchange and are enabled to trade on the Exchange. All SEBI registered members are given a registration no., which may be verified from SEBI. The details of all members of NSE/BSE/ MCX-SX and whether they are enabled to trade may be verified from NSE/BSE/MCX-SX website ( ( ( Demand any such information, details and documents from the member, for the purpose of verification, as you may find it necessary to satisfy yourself about his credentials Furnish all such details in full as are required by the member as required in "Know Your Client" form, which may also include details of PAN or Passport or Driving License or Voters Id, or Ration Card, bank account and depository account, or any such details made mandatory by NSE/ BSE/ SEBI/ MCX-SX at any time, as is available with the investor Execute a broker-client agreement in the form prescribed by SEBI and/or the Relevant Authority of NSE/BSE/MCX-SX or its Clearing Corporation/ Clearing House from time to time, because this may 26

27 be useful as a proof of your dealing arrangements with the member 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. Giving instructions in writing ensures that you have proof of your intent, in case of disputes with the member Ensure that a contract note is issued to you by the member which contains minute records of every transaction. Verify that the contract note contains details of order number, trade number, trade time, trade price, trade quantity, details of the security/ derivatives/currency derivatives contract, client code allotted to you and showing the brokerage separately. Contract notes are required to be given/ sent by the member to the investors latest on the next working day of the trade. Contract note can be issued by the member either in electronic form using digital signature as required, or in hard copy. In case you do not receive a contract note on the next working day or at a mutually agreed time, please get in touch with the Investors Grievance Cell of NSE/BSE/MCX-SX, without delaying Facility of Trade Verification is available on NSE/ BSE/ MCX-SX website ( ( ( where details of trade as mentioned in the contract note may be verified from the trade date up to five trading days. Where trade details on the website, do not tally with the details mentioned in the contract note, immediately get in touch with the Investors Grievance Cell of NSE/BSE/MCX-SX Ensure that payment of funds/delivery of securities against settlement is given to the concerned member within one working day prior to the date of pay-in announced by NSE/BSE/MCX-SX or its Clearing Corporation/Clearing House. Payments should be made only by account payee cheque in favour of the firm/company of the trading member and a receipt or acknowledgement towards what such payment is made be obtained from the member. Delivery of securities is made to the pool account of the member rather than to the beneficiary account of the member In case pay-out of funds and/or securities is not received on the next working day after date of payout announced by NSE/BSE/MCX-SX or its Clearing Corporation/ Clearing House, please follow-up with the concerned member for its receipt/release. In case pay-out is not received/released as above from the member within five working days, ensure that you lodge a complaint immediately with the Investors' Grievance Cell of NSE/BSE/MCX-SX Every member is required to send a complete 'Statement of Accounts', for both funds and securities settlements and margins, to each of its constituents, at such periodicity as may be prescribed from time to time. You should report errors, if any, in the Statement immediately, but not later than 30 calendar days of receipt thereof, to the member. In case the error is not rectified or there is a dispute, ensure that you refer such matter to the Investors Grievance Cell of NSE/BSE/MCX- SX, without delaying In case of a complaint against a member/registered sub broker, you should address the complaint to the Office as may be specified by NSE/BSE/MCX-SX from time to time. 1.4 In case where a member surrenders his membership, NSE/BSE/MCX-SX gives a public notice inviting claims, if any, from investors. In case of a claim, relating to "transactions executed on the trading system" of NSE/BSE/MCX-SX, ensure that you lodge a claim with NSE/BSE/MCX-SX /Clearing Corporation/Clearing House within the stipulated period and with the supporting documents. 1.5 In case where a member is expelled from trading membership or declared a defaulter, NSE/BSE/MCX- SX gives a public notice inviting claims, if any, from investors. In case of a claim, relating to "transactions executed on the trading system" of NSE/BSE/MCX- SX, ensure that you lodge a claim with NSE/BSE/ MCX-SX within the stipulated period and with the supporting documents. 1.6 Claims against a defaulter/expelled member found to be valid as prescribed in the relevant Rules/Bye - laws and the scheme under the Investors' Protection Fund (IPF) may be payable first out of the amount vested in the Committeee for settlement of claims against defaulters, on pro-rata basis if the amount is inadequate. The balance amount of claims, if any, to a maximum amount of Rupees Ten Lacs per invetor claim, per defaulter/expelled member may be payable subject to such claims being found payable under the scheme of the IPF. Notes: 1. The term 'constituent' shall mean and include a client, a customer or an investor, who deals with a trading member of NSE/ BSE/ MCX-SX for the purpose of acquiring/buying and/ or selling of securities/ F&O contracts/ currency derivatives contracts through the mechanism provided by NSE/ BSE/ MCX-SX. 2. The term 'member' shall mean and include a trading member or a broker or a stock broker, who has been admitted as such by NSE/BSE/MCX-SX and who holds a registration certificate as a stok broker from SEBI. 3. The term 'contract' refers to a F&O / currency derivatives contract and the term 'underlying' refers to the underlying index / stock/ currency of such contract. Authorised signatory: 27 26

28 This forms part of the Broker-Client Agreement entered between the client and Stock Broker for the purpose of trading on the National Stock Exchange of India Limited, Bombay Stock Exchange Limited and MCX Stock Exchange Limited. The terms and conditions contained herein are voluntarily opted by the client and binding on the client. The client has agreed to obtain services from the Stock Broker after fully understanding the terms and conditions. The terms and conditions shall be subject to modification from time to time and such modifications are binding on the client. For the purpose of this agreement Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Ltd. (NSE) and MCX Stock Exchange Limited (MCX-SX) shall respectively known as Exchange henceforth in this agreement. 1. DEFINITIONS: 1.1 Account shall mean the Client s Broking Account with Stock Broker. 1.2 Bank Accounts shall mean the bank account that may be opened by the Client with a Designated Bank pursuant to this Agreement. 1.3 BSE shall have the meaning specified in the recitals. 1.4 Business Day means any day on which the BSE/ NSE are open for trading. 1.5 Designated Bank shall mean a bank from among the list at Annexure 1 hereto with which Stock Broker has arrangements for electronic debit/ credit of payments and receivables to and from its Client s. 1.6 E-broking Services shall have the meaning specified in the recitals. 1.7 DP Account shall mean an account that may be opened by the Client with designated DP pursuant to this Agreement. 1.8 Designated DP shall mean a depository participant from among the list at Annexure 2 hereto with which Stock Broker has an arrangement, which includes an Internet delivery gateway, for speedy delivery and receipt of securities to and from its Client s. 1.9 MCX-SX shall have the meaning specified in the recitals Minimum Margin Deposit means the minimum cash balance that the Client is required to maintain with Stock Broker at all times as a condition to avail the E-broking Services Nifty shall mean the NSE s fifty share stock index NSE shall have the meaning specified in the recitals Order Types shall include the various types of orders, including those listed in Trading and Product Guidelines Brochure, and order types known by such other name or terminology as are commonly used in the trade, that the Client may place with Stock Broker Password shall mean the alphanumeric code allotted by Stock Broker to the Client to enable it to validate the Username and operate the Account Products shall mean the various products offered by Stock Broker as part of the E-broking Services. SECTION B - NON-MANDATORY DOCUMENTS *ANNEXURE A 1.16 Relevant Stock Exchange shall mean the Stock Exchange where Stock Broker has a Stock Brokership and it offers/ plans to offer its products and services SEBI shall have the meaning specified in the recitals Sensex shall mean the BSE s sensitive stock index Settlement Cycle shall mean the account period specified by the relevant Stock Exchange Stock Exchange shall mean a Stock Exchange that is recognized by SEBI and which has granted permission to Stock Broker to provide the E-broking Services and shall include the NSE, and BSE Trading and Product Guidelines Brochure means the product brochure describing the products offered by Stock Broker from time to time at its sole discretion Trading Hours shall mean such period of Business Day when the relevant Stock Exchange offers trading to its Stock Brokers including Stock Broker Username means the alphanumeric identification code allotted by Stock Broker and used by the Client for accessing its Account. 1. INTERPRETATION: a. In addition to the above, certain terms have been defined elsewhere in this Agreement and they shall have the meaning assigned to them unless the context specifically or by necessary application otherwise requires. b. Various terms used throughout this Agreement shall, if not, specifically defined, or in case of any ambiguity as to the meaning thereof, be construed and interpreted in accordance with the customary meanings of such terms in the business of providing broking services and trading on Stock Exchanges. c. The headings are for convenience only and shall not affect the interpretation of this Agreement. d. Unless otherwise specified, references to Clauses and Exhibits are references to Clauses and Exhibits to this Agreement. e. The definitions ascribed to terms in this Agreement apply equally to both the singular and plural forms of such terms. f. Whenever the context may require, any pronoun shall be deemed to include the corresponding masculine, feminine and neuter forms. 27 Continued on page 28

29 g. The words include, includes and including shall be interpreted as if followed by the phrase without limitation. h. References to any document or agreement, including this Agreement, shall be deemed to include any references to such document or agreement as amended, supplemented or replaced from time to time in accordance with its terms and (where applicable) subject to compliance with the requirements set forth therein and herein. i. References to a statute, ordinance, code or other law shall be deemed to include regulations and other instruments under it and consolidations, amendments, re-enactment or replacements of any of them. j. References to any party to this Addendum Agreement or any other document or arrangement includes that party s executors, administrators, substitutes, successors and permitted assigns. 2. APPOINTMENT: Stock Broker hereby agrees to provide E-broking Services to Client and the Client agrees to avail of the E-broking Services provided by Stock Broker on the terms and conditions set forth in this Agreement. 3. ELIGIBILITY CRITERIA: The Client shall be eligible to avail of the E-broking Service only after having registered with Stock Broker on completing the Registration Form prescribed by Stock Broker in this behalf and fulfilling the conditions of registration specified by Stock Broker from time to time including, inter alia, as follows: The existence/ opening of a bank account and a depository account by the Client either with a Designated Bank and a Designated DP or with a bank and a depository participant acceptable to Stock Broker The existence or creation of the Minimum Margin Deposit by the Client with Stock Broker Execution of a Power of Attorney in favor of Stock Broker for limited purpose use of the designated Depository Account Execution of such other documents and furnishing of particulars as may be required from time to time by Stock Broker. On the satisfactory verification by Stock Broker of the information provided by the Client and the fulfillment of all requirements as stated in subclauses (1) to (4) above by the Client, Stock Broker shall register the Client for availing the E-broking Services and open its Account with Stock Broker. On activation of the Account by Stock Broker, Stock Broker shall provide the Client with a Username and Password to access and operate the Account, and avail of the E-broking Services. 4. SERVICES OFFERED BY STOCK BROKER: India Infoline Limited (Stock Broker) provides to their Client s India Infoline Trading Services which includes: a. E-broking services through their Website: and Internet Client Server application. b. Trading facility over telephone known as Tradeline. 4.1 Terms and Conditions of India Infoline Trading Services: The Client agrees to avail of the India Infoline Trading Services, on and subject to the terms and conditions below: For the purpose of E-broking services Client will be entitled to a Trading Login ID and a Password through which Client can directly deal in the securities through the Website: and Internet Client Server application For the purpose of Tradeline, the Client shall be provided a telephone number (Identification Number) which shall be used as Client s ID and a separate 4 digit Telephone Personal Identification Number (TPIN) which will directly give Client to speak with the Customer Relationship Officer of Stock Broker for availing of India Infoline Trading Services The Client agrees that if the call is from telephone numbers other than the designated telephone numbers, the Company shall seek to verify the Client s default demat account number or such other information for Client identification Stock Broker shall from time to time introduce such other additional facilities and security as may be necessary (by whatever name called) which will enable the Client to avail facilities of India Infoline Trading Services, at the Client s cost, if any The Client is aware that the Stock Broker System itself randomly generates the Trading Login ID and Product Password, Ledger/ Fund Transfer Password, Password and Demat Account Transaction Password (herein after referred to as Password ) which shall be sent to the Client either by SMS over his/ her mobile number or by courier in hard copy as agreed by the Client. The initial Password sent by Stock Broker can be used only for the first login. The Client agrees and undertakes to immediately reset his/ her Password and TPIN through the Internet/ software setting provided by the Stock Broker. The Client is aware that the Password sent through the above mentioned mode by Stock Broker and subsequent Password and TPIN reset by the Client are not known to or available with anyone else including Stock Broker and/ or its Officials/ agents. At no point in time shall 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 and/ or TPIN. Stock Broker shall not be responsible in any manner for the Password and/ or TPIN as the Client has to reset the same through Internet/ software system so the same are not known to Stock Broker Official s The Client shall be responsible for keeping the Trading Login ID, Password and TPIN confidential and secure and shall not part the same with any other person Continued on page 29 28

30 and shall be solely responsible for all orders entered and transactions done by any person whosoever through the India Infoline Trading Services using the Client s Trading Login ID, Password or Identification Number and TPIN or have access to Client s whether or not such person was authorised to do so The Client acknowledges that he/ she is fully aware of and understands the risks associated with availing of a India Infoline Trading Services for routing orders over the Internet and telephone including the risk of misuse and unauthorised use of his/ her Trading Login ID, Password, Identification Number and TPIN by a third party and the risk of a person hacking into the Client s account on the India Infoline and unauthorisedly routing orders on behalf of the Client through the system. The Client agrees that he/ she shall be fully liable and responsible for any and all unauthorised use and misuse of his/ her Trading Login ID, Password, Identification Number and TPIN and also for any and all acts done by any person through the India Infoline on the Client s account in any manner whatsoever The Client shall immediately on becoming aware, inform Stock Broker of any unauthorised use of the Client s Trading Login ID, Password, Identification Number and TPIN with full details of such unauthorised use including the date of such unauthorized use, the manner in which it was unauthorisedly used, the transactions effected pursuant to such unauthorised use, etc The Client shall immediately notify Stock Broker in writing with full details if (i) he/ she discovers or suspects unauthorized access through his/ her Trading Login ID, Password, Identification Number and/or TPIN (ii) he/ she notices discrepancies that might be attributable to unauthorised access, (iii) he/ she forgets his/ her Password and/ or TPIN or (iv) he/ she discovers a security flaw in the India Infoline Trading Services. In any of the above events specified, the Client shall immediately change his/ her Password and/ or TPIN. However, if the Client is unable to change his/ her Password and/ or TPIN by reason of his/ her having forgotten his/ her Password and/ or TPIN or his/ her Password and/ or TPIN having been unauthorisedly changed by some other person or for any other reason then the Client shall immediately request Stock Broker in writing and follow the instructions given by Stock Broker. At no point in time shall 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 and/ or TPIN The Client agrees that orders, instructions and other communication made over the telephone routed through the Stock Broker s interactive voice response or other telephone system may be recorded by Stock Broker. The Client also agrees that such recording and Stock Broker records of any orders, instructions 29 and communications given or made by the Client or Stock Broker by the fax, , or other electronic means shall be admissible as evidence and shall be binding Client agrees to provide information s relating to the Client s Trading Account and other personal details as may be required while placing orders on telephone to determine the identity of the Client. Provided; however nothing prevents Stock Broker to accept the instructions from Client over telephone without usage of TPIN and such acceptance of instructions by Stock Broker will be binding on Client The Client shall log off from India Infoline Trading Services at any time the Client is not accessing or using the Service and any liability incurred to the Client as consequence of the Client not logging of the Service shall be borne solely by the Client The Client agrees and understands that Stock Broker shall discontinue or alter his/ her India Infoline Trading Services in part or entirety and change the terms of Service at any time without prior notice to the Client. The Client, declares that, he/ she has fully read and understood the terms and conditions of India Infoline Trading Services and agrees to abide by all the terms and conditions mentioned above. 4.2 In case of change in Mobile number anytime after opening of this account, for Postpaid connection it is mandatory to submit the photocopy of a latest / last two months Mobile bill and for Prepaid connection Client must personally visit the Branch/ FANs along with their ID proofs (E.g.: Pan Card or Driving License) and get the same verified. 5. SERVICES THROUGH Terms and Conditions of Electronic Contract Notes/ statement of account, etc : The Client agrees to the terms and conditions below: 5.1 The client agrees to receive the contract notes for the trades executed by the stock broker on behalf of the client in electronic form i.e digitally signed contract notes. If at any time client does not wish to receive the contract notes and other documents in electronic form then the client shall intimate the stock broker of the same in writing The Client shall access the contract notes/ confirmations of the trades executed on his/ her/ their behalf on the trade date electronically. The Client understands that it is his/ her/ their responsibility to review all confirmations, contract notes, statements, notices and other communications including but not limited to margin and maintenance calls etc. All information contained therein shall be binding on the Client, if the Client does not object, either in writing or via electronic mail within 48 hours from the date of the execution of the trade Should the Client experience any difficulty in opening a document electronically delivered by the Stock Continued on page 30

31 Broker, the Stock Broker may, on receipt of intimation from the Client in that behalf, make the required delivery by any other electronic means ( , fax, electronic mail attachment, or in the form of an available download from the back-office website) or in paper based format. Failure to advise the Stock Broker of such difficulty within 48 hours from the date of execution of the trade shall serve as an affirmation that Client was able to receive and open the said document The Client agrees not to receive the contract notes in paper form from the Stock Broker. Provided however that in case when the Stock Broker is not able to provide Contract Note to its Clients through (web based) electronic medium through or internet due to any unforeseen problems, Stock Broker should ensure that the contract note reaches to the Client in physical form as per the time schedule stipulated in the Bye-Laws, Rules and Regulations of the Exchanges There may be a delay in the stock broker receiving the reports of the transaction status from the exchange or the other persons in respect of or in connection with which the stock broker has entered into contracts or transactions on behalf of the client. Accordingly, the stock broker may forward to the client late reports in respect of such transaction that were previously unreported to him or were incorrectly reported to him as being expired, cancelled or executed. The client shall not hold the stock broker responsible for any losses suffered by the clients on account of any late reports/ statements or any error in reports/ statements computed by or received from the exchange The Client agrees that the Stock Broker fulfils its legal obligation to deliver to the Client the contract notes/ statement of account, etc if sent via electronic delivery at any one of the account(s) provided by the Client for the purpose and the Stock Broker has not received any report indicating bouncing back of such electronic delivery from any of such electronic delivery from any of such account(s). Such statements shall be deemed to have been delivered on the day when the same is sent electronically by the Stock Broker. In other words, sent to any one of the account(s), which is not bounced back, shall be deemed to be duly delivered to the Client and sufficient compliance The Client agrees to access the Contract Notes/ Statement of accounts, etc electronically. The Client also agrees that it is his/ her/ their responsibility to review the same. Non-verification by the Client or not accessing the Contract Notes/ Statement of accounts, etc on regular basis shall not be a reason for disputing the same at any time The client undertakes to keep the stockbroker informed in case of any change in the address of the client. The client agrees that no receipt of failure of delivery notification by the stockbroker shall amount to valid delivery of the electronic contract notes and other communication to the client. Client agrees that the Stock Broker shall not be responsible for non-receipt of Document(s) sent via electronic delivery due to change in/incorrect address provided by the Client for the purpose or for any other reason which inter alia include insufficient space in the inbox of the Client, technical reasons or malfunction of the Client s computer system/ server/ internet connection etc. It shall be the responsibility of the Client to intimate the Stock Broker of any change in the Client s account(s) Client confirms that the provided by him is his own ID. The Client shall receive all the transaction statement, holding statement, contract notes and other correspondence instantly on his/ her . The physical copies of such correspondence shall be sent on Client s request in writing The client agrees and understands that IIFL will not be held responsible for any unauthorised access of his -id and he/ she indemnifies the Company for the same Stock Broker shall not be responsible to maintain or provide the back-up of the s at any point of time The Client shall be responsible for keeping the Password confidential and secure and shall be solely responsible for all transactions done by any person whosoever through the Client s ID The Client shall log off from the Service, whenever he/ she is not accessing or using the Service. Any liability incurred to the Client as a consequence of the Client not logging off the Service shall be borne solely by the Client The Stock Broker shall not be liable or responsible for any statement received from frauds or impostors or any consequences thereof The Stock Broker shall not be liable for any problem, which arises at the Client s computer network because of the Client receiving any such statement from the Stcok Broker The Stock Broker agrees that in case of receipt of bounced back notification from all the account(s), the Stock Broker shall make required delivery by any other electronic means ( , fax, electronic mail attachment or an available download from the back office website) or in paper-based format immediately thereafter. However the Client agrees that the Stock Broker shall not take cognizance of out-of-office/ out-of-station auto replies and the Client shall be deemed to have received such electronic communication The Stock Broker may also post the Document(s) Continued on page 31 30

32 on the website of the Stock Broker and the same can be accessed by the Client on the website with the help of the login and password given to the Client by the Stock Broker. The Client shall ensure confidentiality and secrecy of the login id and password. Stock Broker shall not be liable or responsible for any breach of secrecy Stock Broker shall not be liable for any loss, whether notional or actual, that may be suffered by the Client on account of the misuse of the Password at any point of time. The Client, declares that, he/ she has fully read and understood the Terms and Conditions of Service and agrees to abide by all the Terms and Conditions mentioned above and sign below as the token of acceptance of the above Terms and Conditions. 5.2 The Stock Broker may send the Client Registration documents viz., Client registration form/kyc, Member Client Agreement/Tripartite Agreement, Risk Disclosure Document and a copy of any other document executed with the client (hereinafter referred to as Registration documents ) to the Client in physical and/ or electronic form. The Stock Broker shall make available the copy of Registration Documents on the Stock Broker s Internet platform and the same is accepted as a delivery of client s copy by the client. The Client also agrees and permits the Stock Broker under the terms of this agreement to provide to the Client, the Registration documents through Internet (web based)/ in electronic form on the id provided by the client. 5.3 The Client understands and agrees that the Stock Broker shall be entitled to charge to the Client fees/ charges for sending such Documents. 6. PRODUCTS OFFERED BY STOCK BROKER: Trading will be limited to securities that form part of the DEMAT FOR ALL (for institutional as well as retail investors) list prescribed by SEBI. The E-broking services shall comprise of one or more of the following distinct Products that may be offered to the Client: Trades for Delivery and Square-off (more specifically described in Trading and Product Guidelines Brochure) in Cash Segment Derivatives - Sensex and Nifty Futures Trading and other derivative products which may be offered by Stock Broker from time to time (more specifically described in Trading and Product Guidelines Brochure). The Client shall select the Products it wishes to avail of, Stock Broker shall, in its absolute discretion agrees to offer one or more of the Products selected, to the Clients. Based on the Client s selection and Stock Broker s confirmation of the Products that the Client may avail of, Stock Broker will determine the Minimum Margin Deposit to be maintained by the Client with Stock Broker 31 and set an authorized limit ( the Limit ) or amount of outstanding trades that the Client may have at any given time. The Products offered by Stock Broker to the Client shall be used by the Client on the terms and conditions more specifically described in the Trading and Product Guidelines Brochure. The procedure for accessing Stock Broker Internet Site and availing of the Products is set out in Trading and Product Guidelines Brochure. It is clarified that the Products may be availed of by the Client by giving instructions to Stock Broker by personally visiting the Branch office, or over the telephone, fax, virtual private network, or the Internet. Stock Broker reserves the right to modify or cancel any of its products/ offerings at its sole discretion. 7. BROKERAGE AND TAXES: Stock Broker shall be entitled to a brokerage of upto the maximum rate permitted by SEBI/ Exchange, of the value of every transaction that may be undertaken by the Client by using the E-broking and/ or Off-line Service. The rates of brokerage for each Product that the Client may avail of under this Agreement are mentioned in trading and product guidelines brochure hereto. The rates of brokerage may be revised by Stock Broker from time to time at its sole discretion. The Client shall also pay any applicable taxes, including service tax, securities transaction tax, handling charges, depository charges that may be levied on any transactions undertaken pursuant to this Agreement. 8. LIEN: All monies, securities and/ or other property in the Bank/ DP Account or that may be held by the Stock Broker on the client s account shall be held at the sole risk and cost of the client and subject to a lien for the discharge of any and all indebtedness or any other obligation that the Client may have to Stock Broker, irrespective of whether such obligation of the client is disputed by the client. All of the Client s securities and/ or other property shall be held by Stock Broker as security for the payment of any such obligation or indebtedness to Stock Broker. In enforcing its lien, Stock Broker at its sole discretion may determine which securities and/ or other property are to be sold or which contracts are to be enforced. 9. PAYMENT: 9.1 Time of Payment The Client shall make all remittances to Stock Broker (i.e. payment for all purchase transactions plus taxes, brokerage, handling charges and depository related fees and transaction fees of Stock Broker) by the value date for each transaction. The value date for all purchases will be the pay-in day less two days, where the pay-in day is specified by the Exchange Clearing House for the relevant settlement period. Provided that subject to Clause a notional debit may be made with respect to the Limit on the last day of the Settlement Cycle, notwithstanding that actual Continued on page 32

33 payment is due on a later date and such notional debit shall be reversed on receipt of payment The Client will also have to make a margin payment for shares purchased and sold either for square-off or delivery or on derivative contracts. The amount will be as charged by the relevant Exchange. However, in case the Exchange charges a margin amount over and above the normal margins, Stock Broker can make a margin call to the Client who will need to have to pay the relevant margin as charged by the Exchange Stock Broker shall remit funds to the Client (i.e. payment for all sale transactions less taxes, brokerage, handling charges and depository related fees and transaction fees of Stock Broker), less any amounts deducted for shortages by the value date. The value date for all sales will be pay-out day plus two days where the pay-out day is specified by the Exchange Clearing House for the relevant settlement period In the event of the Client having made both sales and purchases during a Settlement Cycle on the same Stock Exchange, the amount due from and to the Client shall be netted off and only the difference shall be payable by or to the Client. A notional debit or credit as the case may be, may be made to the Limit at the end of day until the actual payment is made. 9.2 Mode of Payment No cash payment will be received from/ made to the client as per the extract SEBI/ Exchange/ Income Tax/ PMLA Regulation, Guidelines, Circulars, etc. Accordingly IIFL will not be responsible for any claim of receipt/ payment in cash by client from/ to IIFL. In the case of a purchase transaction, the Client shall remit funds within the time period provided in subclause above to Stock Broker in any of the following ways: Acceptable credit or debit card, provided Stock Broker has agreed to receipt of payment in this manner, or Authorized electronic transfer of funds from Client s Bank Account to Stock Broker s bank account in the same Designated Bank; or Demand draft in favour of India Infoline Ltd (Client s Login id) or account payee crossed cheques drawn on designated bank or any other bank with which the Client maintains a regular account, proof of which is provided at the time of payment. In the case of sub-clauses (1) and (2) credit will be given to the Client immediately on authentication of payment authorization, however Client has to intimate Stock Broker immediately after making payment through option as mentioned in subclauses (1) and (2). In the case of (3) credit will be given only on receipt of clear funds Payment referred to in sub-clauses (1), (2) & (3) shall be accepted only from Client s account Payment shall be made by the Client only as referred to in sub-clauses (1), (2) & (3) above. Stock Broker shall not accept/ acknowledge/ give credit for any payment made in cash The client agrees to pay Rs.500/- to Stockbroker in case if the cheque deposited by client is bounced/ uncleared/rejected due to any reason. The same shall be deducted from the client s ledger account held with the Stockbroker. 9.3 In the case of a sale transaction, Stock Broker shall remit funds to the Client within the time period provided in subclause above, provided the Client has delivered the securities sold to Stock Broker within the time prescribed in clause , in any of the following ways as may be requested by the Client: Electronic transfer of funds into the Bank Account of the Client opened with the Designated Bank Electronic transfer of funds into any other bank account of the Client as may be specified by the Client, and accepted by Stock Broker; or Account payee cheque All payments shall be made only in the name of the client. 9.4 Please note that the mode of payment should be only by way of account payee crossed cheques or 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. 9.5 Interface with a payment gateway will be offered to the Client at the portal itself. 9.6 DEFAULT IN PAYMENT: The Client agrees that Stock Broker may set off his/ her credit balances on NSE and BSE, hereinafter referred to as the Exchanges against the debit balances in one or more accounts of the Client in relation to the said Exchanges and segments of the Exchanges. 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 in cash segment or derivative segment on any Exchange 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/ closing-out shall be charged to and borne by the Client. On a default by the Client to remit any monies payable to Stock Broker, Stock Broker shall be entitled to appropriate the monies maintained by the Client in the Minimum Margin Deposit towards Continued on page 33 32

34 its dues. The Minimum Margin Deposit with Stock Broker shall be subject to a lien for the discharge of any and all indebtedness or any other obligation that the Client may have to Stock Broker. The Ebroking Services shall be suspended to the Client until such time as the Client replenishes funds adequate to maintain the Minimum Margin Deposit at the stipulated level. Not with standing anything contained in these present, any amounts which are overdue from the Client towards trading either in the cash or derivative segments or on account of any other reason the Client will be charged delayed payment charges at the rate of 2% per month or such other rate as may be determined by the Stock Broker. The Client hereby authorises the Stock Broker to directly debit the same to the account of the Client at the end of each month. 9.7 In the event the client makes the specific request to the stockbroker for the physical documents instead of electronic/ digitally signed documents including contract notes/ statement of accounts, etc and subject to the stockbroker being in a position to do so; the client agrees to pay all such amounts that the stockbroker may charge to cover the operational cost that the stockbroker incurs in preparing and delivering the said communications, documents, reports and alerts. 9.8 The Client hereby agrees and understands that in case of any noncompliance and/ or default by the Client such as cheque bouncing, trade change, F&O short margin, UCC violation, price rigging or for any other matters as may be decided by Stock broker from time to time, without prejudice to the Stock Broker s other rights, Stock Broker may levy charges/ penalty(ies) on the Client and debit such charges/ penalty in the Client s account. 9.9 The Client authorizes the Stock Broker to use his discretion to buy, sell or close out any part or all of the contracts held in the Clients account with the Stock Broker for the protection of the Stock Broker, in case of any default by the Client. The Client agrees to reimburse any or all such incidental expenses incurred by the Stock Broker. 10. THE MINIMUM MARGIN DEPOSIT: Subject to Stock Broker s rights to appropriate the Minimum Margin Deposit or an appropriate part thereof against its dues, or towards margin money payable by the Client, the Minimum Margin Deposit shall be maintained by Stock Broker in a ledger account of the customer in its books. If the Client so authorises Stock Broker, the Minimum Margin Deposit may be invested in a liquid fund or in such other scheme or schemes as the Client and Stock Broker may agrees from time to time. Any earnings on such deployments shall, after deducting Stock 33 Broker s standard commission, be credited to the Client. The Client expressly agrees and confirms that such investments and deployment of the Minimum Margin Deposit, shall be at the entire risk of the Client and Stock Broker shall not be held responsible in any manner for any losses that the Client may incur in this regard. Should the Minimum Margin Deposit fall below the required minimum limits as a result of any such losses, the Client shall immediately replenish it upto the level of the Minimum Margin Deposit, failing which the broking Services may be suspended by Stock Broker. In the event of the Client being required to pay margin money whether under the rules of any Stock Exchange or SEBI or as otherwise determined by Stock Broker, Stock Broker shall be authorized to appropriate the Minimum Margin Deposit or any part thereof, towards such margin requirement. The Client shall immediately replenish funds adequate to the required level of the Minimum Margin Deposit, failing which the E-broking Services may be suspended by Stock Broker. 11. PAYMENT OF MARGINS: 11.1 Stock Broker shall specify the margin payments, if any, payable in cash or securities provided that the securities, if any, accepted as margin/ deposit, shall be valued by the member broker as per valuation norms decided by Stock Broker from time to time. The Client authorises Stock Broker to pledge these securities with the Exchange or with any financier to meet margin/ capital adequacy requirement of Stock Broker in F&O Segment. The Client further authorises Stock Broker to sell these securities to recover any outstanding dues/ meet the margin requirements in Cash & F&O segments of both the Exchanges (NSE and BSE) The Client agrees that all decisions with regard to the amount of margin/ deposit, the exposure available to the Client and trading limit shall be decided by Stock Broker at its sole discretion and no reasons thereof are required to be given to the Client. The Client warrants that all or any securities deposited by him/ her/ them with Stock Broker in respect of margin deposit requirements or otherwise, are owned by him/ her/ them and that the title thereof is clear and free from encumbrances. These margin/ deposits shall be repaid only six months after the Client closes the account with Stock Broker after meeting contingent liabilities arising out of all or any transactions under this Agreement For the purpose of this Agreement, the Client hereby irrevocably agrees that Stock Broker shall be entitled to set off and adjust any outstanding dues including but not limited to deposit, margin, premium, Mark to Market losses, initial margin, securities and/ or money/ securities for lending/ borrowing purpose Continued on page 34

35 which are due to Stock Broker by the Client, in cash or derivative segment of both the Exchanges (NSE and BSE), against any and all the receivables in the account of the Client (Cash and derivative segments of both NSE and BSE) as maintained by Stock Broker. The Client also agrees that any accounting entries made by Stock Broker for any such adjustment in any of the accounts will be binding on him/ her/ them. This clause is irrevocable and shall continue to apply until all the obligations and dues of the Client to Stock Broker are completely fulfilled and settled to STOCK BROKER s satisfaction In case of Derivatives: Without prejudice to Stock Broker, other rights under the Agreement, 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. any and all losses and financial charges on account of such liquidation/ closing out shall be charged to and borne by the Client. 12. DELIVERY OF SHARES: 12.1 Time of Delivery The Client shall deliver shares to Stock Broker for all sale trades due for settlement, on or before the trade settlement day. The settlement day for all Client sales will be the pay-in day less one day, where the payin day is specified by the Exchange Clearing House for the relevant settlement period. All Client sale delivery defaults or shortages will result in auction debits at the Exchange-Clearing House, which will be passed on to the Client Stock Broker shall deliver shares purchased by the Client on the trade settlement day, except delivery shortages from the Exchange-Clearing House. The settlement day for all Client purchases will be payout day plus one day, where the pay-out day is specified by the Exchange-Clearing House for the relevant settlement period Mode of Delivery of Shares Delivery of securities will involve only a transfer of balances with the relevant depository participant Bad Delivery of Shares If Stock Broker makes a sale of any Securities and/ or other property at the direction of the Client or in the event that the Client fails to deliver to Stock Broker any securities and/ or other property that Stock Broker has sold at its direction, Stock Broker is authorized to borrow or otherwise obtain the Securities and/ or other property necessary to enable Stock Broker to make delivery, and the Client agrees to be responsible for any cost or loss that Stock Broker may incur, including the cost of borrowing and/ or obtaining the securities and/ or other property. However, defaulting client will not be eligible for any profit of account of this Exchange shortage quantities will be settled after the due auction buy-in process at the Exchange. All auction shortage closeout debits received from the Exchange will be borne by the Client The Client shall reimburse Stock Broker for all costs incurred in the auction procedure within two business days of the bill received by Stock Broker in this regard. 13. CONFIRMATIONS AND CANCELLATIONS: Client authorises/ agrees Stock Broker to issue the contract note in digital form. The Stock Broker would upload the digital contracts notes on the website and/ or send an to designated ID of the Client. The same shall be deemed to be received by the Client. All transactions undertaken by the Client via the Internet during Trading Hours shall be confirmed to the Client as per notification option opted for by the Client via . While digital contact notes sent to the Client s designated id would be the orginal contact notes delivered to the Client. However a copy of the digitally delivered contact notes may be issued by the officers of Stock Broker upon their specific request. The Client shall note that such copies are only a copy of the validly delivered contract notes The Client may place trade orders outside Trading Hours also. In case of execution of trade, an confirmation may be sent by Stock Broker on the next Business Day In case of orders placed during Trading Hours, every effort will be made by Stock Broker to have the order executed within a few seconds, subject to match up of orders and other circumstances provided herein. Any orders not executed for any reason during Trading Hours, shall, unless the Order Type requires or implies otherwise, stand cancelled In case of orders placed outside Trading Hours, subject to the Order Type match up of orders and other circumstances provided herein, every effort will be made by Stock Broker to have the order executed promptly upon commencement of Trading Hours on the immediately following Business Day If the Client places a request to cancel an order, the cancellation of that order is not guaranteed by Stock Broker. The order will only be cancelled if the Client s request for cancellation is received in the Exchange and matched up with his/ her order before it gets executed The Client agrees that the information sent by Stock Broker by is deemed to be a valid delivery of such information by Stock Broker to the Client. In the event the Client does not receive any confirmation from Stock Broker, whether by or printed/ digital contract note, by the end of the next Business Day following the date on which the order is placed, the Client shall make inquiries with Stock Broker on the status of the order. Stock Broker Continued on page 35 34

36 will not be responsible for nonreceipt of contract notes due to any change in address or correspondence address Stock Broker may from time to time receive late reports from the BSE/ NSE reporting the status of transactions. Accordingly, the Client shall be subject to late reports relating to orders that were previously unreported to him or reported to him as being expired, cancelled, or executed Any recording or position errors, including errors in execution prices will be corrected to reflect what actually occurred in the market place The Client further agrees as follows: Stock Broker shall have the right to refuse to accept any buy or sell transaction or order from the Client without providing any reasons thereof provided that Stock Broker shall immediately inform the Client of any such decision Without prejudice to the generality of the above, the Client is aware that Stock Broker has provided on the web site, a facility for reconfirmation of orders, which are larger than that specified by Stock Broker s risk management team and that Stock Broker has the discretion to reject the execution of any orders based on its risk perception Stock Broker shall not be liable for non-execution of any order or for any delays the execution of any purchase or sale order or for any resultant loss on account of such non-execution or delay, due to any link/ system failure, electric failure, due to Contingencies beyond it s control such as fire, flood, civil commotion, earthquake at the Client/ Stock Broker/ Exchange end Stock Broker shall, at its sole discretion subject any sale or purchase order placed by the Client to manual review and entry or other verification process, which may cause delays in the processing of the Client s orders The Client will receive the price at which his/ her order is executed in the market place, which may be different from what is trading when his/ her order is entered into the system Inform Stock Broker if he/ she does not receive confirmation of trade under section JOINT ACCOUNT: 14.1 The Client, if he/ she is a joint account holder agrees that upon the death or disability of either party, the remaining undersigned shall immediately provide notice of such event to Stock Broker. All transactions thereafter affecting the concerned Client account(s) must be at the joint direction and upon the joint signatures of the legal representative of the affected party and the remaining undersigned. Stock Broker shall not be liable for transfers, payments or other transactions that occur in the Account prior to receipt of such written notice The Client will indemnify Stock Broker from any claim or losses arising from transactions in securities held jointly by the Client with any other person or persons. 15. INVESTMENT ADVICE: The Client acknowledges that Stock Broker shall not be liable to provide it with any legal, tax or accounting advice or advice regarding the suitability or profitability of a security or investment The Client also acknowledges that Stock Broker s employees are not authorized to give any such advice and that the Client will not solicit or rely upon any such advise from Stock Broker or any of its employees Any information or recommendations provided by Stock Broker in addition to the Ebroking Service shall not be construed as investment advice given by Stock Broker to the Client The Client agrees that in the event of Stock broker or any employee or official of Stock broker, providing any information, recommendation or advice to the Client, the Client may act upon the same at the sole risk and cost of the Client and the Stock Broker shall not be liable or responsible for the same. The Client assumes full responsibility with respect to his investment decisions and transactions. 16. REPRESENTATIONS AND WARRANTIES: 16.1 Representation and Warranties of the Client The Client agrees that the gross exposure computation norms, the resulting authorized trade limit for the Client, the Minimum Margin Deposit requirement for each Product are discretionary parameters that may be set by Stock Broker, at its sole discretion without having to provide any reasons for the same The Client is aware that authentication technologies and strict security measures are required for the Internet trading through order routed system. Accordingly the Client undertakes to ensure that the Password and Username are not revealed to any third party and shall ensure that no third person other than his/ her authorized representative gains access to it The Client agrees that Stock Broker may, in its absolute discretion, issue a new Password to the Client on the terms and conditions stated herein or on such terms and conditions as Stock Broker may deem fit The Client shall, at all times, be bound by any modifications and/ or variations made to this Agreement by Stock Broker The Client agrees that Stock Broker may suspend the E-broking Service in whole or in part, at any time without prior notice if the Client does not comply with any of the terms and conditions of this Agreement The Client shall take responsibility for all the transactions conducted by using the E-broking Service and will abide by the record of transactions Continued on page 36

37 generated by Stock Broker. Such records generated by Stock Broker shall be conclusive proof and binding on the Client for all purposes and may be used as evidence in any proceedings. In particular it shall not be an option to the Client to contend or to try and avoid a transaction on the allegation that a trade conducted on its Account using the Password allotted to the Client was not a transaction done by or on behalf of the Client The Client has the legal capacity to enter into this Agreement and has taken all corporate and other action necessary and obtained all required consents to enable it to enter into this Agreement and this Agreement constitutes legal, valid and binding obligations of the Client enforceable against the Client in accordance with its terms The Client confirms and undertakes that none of the monies paid to or deposited by the Client with Stock Broker is or shall be tainted with any form of illegality The client hereby declares and confirms that he/ she is not acting as sub-broker for any transaction carried out in his/her aforesaid client account held with IIFL There are no legal, quasi-legal, administrative, arbitration, mediation, conciliation or other proceedings, claims, actions, governmental investigations, orders, judgments or decrees of any nature made, existing, threatened, anticipated or pending against the Client which may prejudicially the due performance or enforceability of this Agreement or any obligation, act, omission or transactions contemplated hereunder. The Client undertakes to immediately intimate the Stock Broker of any such proceedings, claims, actions, governmental investigations, orders, judgments or decrees passed against him during the tenure of this agreement Client agrees to keep the Stock Broker updated on his financial status and provide such details as regards financial position, assets, liabilities etc., including networth details etc., once in a year and also as and when required by the Stock Broker. The Client hereby permits the Stock Broker to provide such information any time to any statutory/ regulatory authorities as may be required. 17. REPRESENTATION AND WARRANTIES OF STOCK BROKER: Stock Broker represents and warrants that it has received permission from the NSE and BSE to provide E-broking Services and has satisfied all necessary requirements of the Exchanges, including but not limited to operational and system requirements. 18. INDEMNITIES: The Client shall indemnify Stock Broker for all transactions undertaken on its behalf by Stock Broker and in particular shall not hold Stock Broker liable for the following: For any transactions using the E-broking Service or otherwise carried out in good faith by Stock Broker on instructions issued by or on behalf of the Client For the unauthorized usage/ unauthorized transactions conducted by using the E-broking Service and/ or the Client s Account and/ or Password For any loss or damage incurred or suffered by the Client due to any error, defect, failure or interruption in the provision of the E-broking Service arising from or caused by any reason whatsoever For any negligence/ mistake or misconduct by the Client For any breach or non-compliance by the Client of the rules/ terms and conditions stated in this Agreement For any penalty/ cost levied/ borne by the Stock Broker due to non-compliance by client For not carrying out any such instructions where Stock Broker has reason to believe (which decision of Stock Broker the Client shall not question or dispute) that the instructions given are not genuine or are otherwise improper, unclear, vague or raise a doubt or that the Minimum Margin Deposit or margin requirement to process a transaction is not there For any incidental, consequential, special or indirect damages including but not limited to lost profits, trading losses, or damages that result from inconvenience, delay or loss of the use of the Service even if Stock Broker has been advised of the possibility of such damages. 19. CONFIDENTIALITY: The Client agrees that the Stock Broker has the right to record the conversation between the Client s representative and the Stock Broker, either personally or over the telephone, and hereby specifically permits the Stock Broker to do so. Such recordings may be relied upon by the Stock Broker as and when required to resolve disputes in connection with the trading transactions. 20. MISCELLANEOUS: 20.1 All trades, transactions and contracts are subject to the Rules and Regulations of the Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Mumbai and the parties to such trade shall be deemed to have submitted to the jurisdiction of the Courts in Mumbai for the purpose of giving effect to the provisions of the Rules, Byelaws and Regulations of the Exchange The Client understands and agrees that Stock Broker is acting as an agent of the Client, unless Stock Broker notifies the Client, electronically or in writing, before the settlement date for the transaction that Stock Broker is acting as a dealer for its own account or as agent for some other person Stock Broker and/ or its agents will not be liable for losses caused directly or indirectly by government restriction, Exchange or market rulings, suspension of trading, computer or telephone failure, war, earthquakes, flood, accident, power failure, Continued on page 37 36

38 equipment or software malfunction, strikes or any other conditions beyond Stock Broker s control Client agrees that any notice or communication served on the Client under this agreement shall be valid and binding on him and shall be deemed to be duly served, if conveyed in writing through Letter, Fax or Telegram or by personal delivery duly acknowledged by the other party/ Courier at the Registered post to the address of the Client mentioned hereinabove or the last known address, or if electronically delivered at any one of the id intimated by the Client, or by publishing the same in the prominent daily newspaper where the registered/ last known business/ residential address of the Client is situated or if conveyed over telephone/ fax on the last known number or on the recording machine of such number or if a notice is pasted at the door of the registered address or the last known address of the Client. Any communication or notice, sent by the Client to the Stock Broker shall be deemed to be duly served, if conveyed in writing through Letter, Fax or Telegram or by personal delivery duly acknowledged by Stock Broker or by registered post sent at the registered address of the Stock Broker mentioned hereinabove The Stock Broker and the Client are aware of the provisions of Byelaws, Rules and Regulations of the Stock Exchanges relating to resolution of disputes/ differences through the mechanism of arbitration provided by the Stock Exchanges and agrees to abide by the said provisions. Any and all disputes arising out of or in connection with this agreement of its performance shall be settled by arbitration by a single Arbitrator appointed by India Infoline Ltd. The arbitration shall be held, in Mumbai in accordance with the provisions of the Arbitration and Conciliation Act, As amended from time to time. In case of any disputes relating to transactions executed on any segment of any Stock Exchange, the Client agrees to file the grievance application only at the Investor Grievances Cell/ Arbitration Department of the concerned Stock Exchange situated at Mumbai, Maharashtra. All trades, transactions and contracts are subject to the Byelaws, Rules and Regulations of the relevant Stock Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Mumbai and the parties to such trade shall be deemed to have submitted to the jurisdiction of the Courts in Mumbai for the purpose of giving effect to the provisions of the Rules and Regulations of the Exchange. This Agreement shall be governed by and construed in all Stock Broker respects in accordance with the laws of the Republic of India. This agreement can be altered, amended and/ or 37 modified by the parties mutually in writing without derogating from the contents of this Agreement. Provided however, if the rights and obligatiostock Broker ns of the parties hereto are altered by virtue of change in Rules and regulations of SEBI or Byelaws, Rules and Regulations of the relevant Stock Exchange, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this agreement The Client hereby unconditionally, absolutely and irrevocably undertakes to pay immediately any amount due and payable under this agreement on being called to do so without any demur merely on a demand from Stock broker stating that the amount claimed is due pursuant to this agreement and any such demand made on the Client shall be conclusive as regards the amount due and payable by the Client under this agreement The client may also refer to the Standard Documents, Policies and Procedures with regard to trading, margin, treatment of inactive account and reactivation, etc. circular, exchange notifications on the Stock Broker s website (i) FURTHER CLAUSES FOR INTERNET TRADING - AS APPLICABLE TO NSE: 1. The provisions of this agreement shall always be subject to Government notifications, any rules, regulations and guidelines issued by SEBI and Stock Exchange rules, regulations and Bye-laws that may be in force from time to time. 2. In the event of death or insolvency of the Client or his 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 the Client or his legal representative shall be liable for any losses, costs and be entitled to any surplus which may result therefrom. 3. The agreement entered into between the Stock Broker and the Client shall stand terminated by mutual consent of the parties by giving at least one month written notice. Such cancellation or termination shall not have any effect on transaction executed before the date of such notice of termination and the parties shall enjoy the same rights and shall have same obligations in respect of such transactions. 4. The instructions issued by an authorized representative of the Client shall be binding on the Client in accordance with the letter authorizing the said representative to deal on behalf of the Client. 5. The Client is aware that authentication technologies and strict security measures are required for the internet trading through order routed system and undertakes to ensure that the password of the Client and/ or his authorised representative are not revealed Continued on page 38

39 to any third party. 6. The Client agrees that the Stock Broker shall not be liable or responsible for non-execution of the orders of the Client due to any link/ system failure at the Client/ Stock Brokers/ EXCHANGE end. 7. The Stock Exchange may cancel a trade suo-moto without giving any reason thereof. In the event of such cancellation, Stock Broker shall be entitled to cancel relative contract(s) with Client. 8. The Stock Broker shall also send the Order/ Trade confirmation slip through to the Client at his request, within time period as specified by the Client or from the time of execution of order/trade on the NEAT/BOLT system, as the case may be. The CLIENT agrees that the information sent by Stock Broker by is deemed to be a valid delivery of such information by the Stock Broker. 9. The Client is aware that the Stock Broker has provided on the web site a facility for reconfirmation of orders, which are larger than that specified by the Stock Broker s risk management, by the Stock Broker and is also aware that the Stock Broker has the discretion to reject the execution of such orders based on his risk perception. 10. The Client agrees that non-receipt of bounced mail notification by the Stock Broker shall amount to delivery of contract note at the ID of the Client. 11. The Stock Broker and the Client are aware of the provisions of Bye-Laws, Rules and regulations of the Exchange relating to resolution of disputes/ differences through the mechanism of arbitration provided by the Exchange and agree to abide by the said provisions. 12. All trades, transactions and contracts are subject to the Bye-Laws, Rules and Regulations of the Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Mumbai and the parties to such trade shall be deemed to have submitted to the jurisdiction of the Courts in Mumbai for the purpose of giving effect to the provisions of the Rules and Regulations of the Exchange. 21. (ii) FURTHER CLAUSES FOR INTERNET TRADING (ITORS SERVICES) AS APPLICABLE TO BSE: 1. DEFINITIONS: 1.1 In this Agreement (including the Recitals above), unless the context otherwise requires the following words shall have the following meanings:- i. Exchange Provisions means the Rules, Byelaws, Regulations, Business Requirement, Specifications, handbooks, notices, circulars and resolutions of the Exchange or any segment of the Exchange in force from time to time and includes the Minimum Requirements Handbook for ITORS prescribed by the Exchange, as amended from time to time. ii. ITORS means Internet based Trading through Order Routing System, being a system approved by the Exchange for enabling Client s to route their orders to their Stock Broker-brokers over the Internet. iii. ITORS Account Application means the application submitted by the Client to the Stock Broker to permit the Client to avail of the Stock Broker s ITORS Service. iv. ITORS Service or Service means the service offered by the Stock Broker to its Client s through ITORS whereunder the Client s can route their orders for purchase, sale and other dealings in securities through the Stock Broker s ITORS System. v. Stock Broker s ITORS System or Stock Broker s ITORS WebSite means the web site hosted by the Stock Broker on the Internet through which the Stock Broker offers the ITORS Service and includes the hardware and software used for hosting and supporting the WebSite. vi. Password means an alphanumeric code used by the Client to validate his/her/username and access the Service. vii. SEBI means the Securities & Exchange Board of India. viii. Username means an alphanumeric login identification used by the Client for accessing the Service. 2. AGREEMENT TO PROVIDE AND AVAIL OF THE ITORS SERVICE: The Stock Broker agrees to provide the Stock Broker s ITORS Service to the Client, and the Client agrees to avail of the Stock Broker s ITORS Service, on and subject to the terms and conditions of this Agreement, the Exchange Provisions and the terms of the Stock Broker s ITORS Web Site. 3. USER NAME AND PASSWORD: 3.1 The Client will be entitled to a username and Password, which will enable him to access the Stock Broker s ITORS System for availing of the Service. 3.2 The Client is aware that the Stock Broker s ITORS System itself generates the initial Password and that the Stock Broker is aware of the same. The Client agrees and undertakes to immediately change his/ her initial Password upon receipt thereof. The Client is aware that subsequent Passwords are not known or available to the Stock Broker. 3.3 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 ITORS System using the Client s Username and/or Password whether or not such person was authorised to do so. 3.4 The Client shall immediately inform the Stock Broker Continued on page 39 38

40 of any unauthorized use of the Client s Username or Password with full details of such unauthorized use including the date of such unauthorized use, the manner it was unauthorisedly used, the transactions effected pursuant to such unauthorized use, etc. 3.5 The Client acknowledges that he/she is fully aware of and understands the risks associated with availing of a service for routing orders over the Internet including the risk of misuse and unauthorized use of his/ her Username and/or Password by a third party and the risk of a person hacking into the Client s account on the Stock Broker s ITORS System and unauthorisedly routing orders on behalf of the Client through the System. The Client agrees that he/ she shall be fully liable and responsible for any and all unauthorized use and misuse of his/her Password and/or Username and also for any and all acts done by any person through the Stock Broker s ITORS System on the Client s Username in any manner whatsoever. 3.6 The Client shall log off from the ITORS Service at any time the Client is not accessing or using the Service and any liability incurred to the Client as a consequence of the Client not logging off the Service shall borne solely by the Client. 3.7 Without prejudice to the provisions of Clause 3.5, the Client shall immediately notify the Stock Broker in writing with full details if: i. he/ she discovers or suspects unauthorized access through his/ her Username, Password or account, ii. he/ she notices discrepancies that might be attributable to unauthorized access, iii. he/ she forgets his/ her Password or iv. he/ she discovers a security flaw in the Stock Broker s ITORS System. 3.8 In any of the above events specified in Clause 3.7, the Client shall immediately change his/ her Password. However, if the Client is unable to change his/ her Password by reason of his/ her having forgotten his/ her Password or his/her Password having been unauthorisedly changed by some other person or for any other reason then the Client shall immediately request the Stock Broker in writing to discontinue his/ her old Password; and thereupon the Stock Broker shall cause the Stock Broker s ITORS System to discontinue the use of the Client s old Password and the Stock Broker s ITORS 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. 4. TRANSACTION AND SETTLEMENTS: 4.1 All orders for purchase, sale or other dealings in securities and other instructions routed through the 39 Stock Broker s ITORS System via the Client s Username shall be deemed to have been given by the Client. 4.2 The orders and instructions and all contracts and transactions entered into pursuant thereto and the settlement thereof will be in accordance with the Exchange Provisions. 4.3 The Stock Broker may from time to time impose and vary limits on the orders which the Client can place through the Stock Broker s ITORS 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, the companies in respect of whose securities 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 ITORS System on account of any such variation, reduction or imposition of limits. The Client understands and 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. 4.4 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 ITORS System, 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. 4.5 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. 4.6 In case of a market order, the Client agrees that he/ she will receive the price at which his/ her order is executed by the Exchange s computer system; and such price may be different from the price at which the security is trading when his/her order is entered into the Stock Broker s ITORS System. 5. MARGIN: The Client agrees and undertakes to immediately deposit with the Stock Broker such cash, securities or other acceptable security, which the Stock Broker may require as margin. The Client agrees that the Stock Broker shall be entitled to require the Client to deposit with the Stock Broker a higher margin than that prescribed by the Exchange. The Stock Broker shall also be entitled to Continued on page 40

41 require the Client to keep permanently with the Stock Broker a margin of a value specified by the Stock Broker so long as the Client desires to avail of the Stock Broker s ITORS Service. 6. CANCELLATION REQUESTS: 6.1 When the Client places a request to cancel an order, the cancellation of that order is not guaranteed. The order will only be cancelled if the Client s request for cancellation is received and the order is successfully cancelled before it is executed. 6.2 The Client shall not be entitled to presume an order as having been executed or canceled until a confirmation from the Stock Broker is received by the Client. 6.3 The Exchange may annul a trade suo-moto without giving a reason therefor. In the event of such anullment, the Stock Broker shall be entitled to cancel the relative contract(s) with the Client. 7. BROKERAGE, COMMISSION AND FEES: 7.1 The Client agrees to pay the Stock Broker brokerage, commission, fees, service tax and other taxes and transaction expenses as they exist from time to time and as they apply to the Client s account and transactions, and the services that he/ she receives from the Stock Broker. 7.2 A schedule of brokerage, fees and commissions, applicable service and other taxes and other transaction expenses shall be provided by the Stock Broker to the Client from time to time upon request by the Client. 8. CONFIRMATIONS: Online confirmation will be available to the Client upon execution or cancellation of an order placed by him through the Stock Broker s ITORS System. This shall be followed by a confirmation, which may be sent by postal mail, electronic mail or other electronic means. It is the responsibility of the Client to review upon first receipt, whether delivered to him online, by postal mail, by electronic mail, or other electronic means, all confirmations of transactions or cancellations. 9. INVESTMENT ADVICE: 9.1 The Client acknowledges that the Stock Broker shall not be liable to provide him with any legal, tax, investment or accounting advice or advice regarding the suitability or profitability of a security or investment. 9.2 The Client also acknowledges that the Stock Broker s employees are not authorised to give any such advice and that the Client will not solicit or rely upon any such advice from the Stock Broker or any of its employees. 9.3 The Client agrees that in the event of the Stock Broker or any employee or official of the Stock Broker providing any information, recommendation or advice to the Client, the Client may act upon the same at the sole risk and cost of the Client, and the Stock Broker shall not be liable or responsible for the same. 9.4 The Client assumes full responsibility with respect to his/ her investment decisions and transactions. 9.5 The Stock Broker, its officers, directors, partners, employees, agents and affiliates will have no liability with respect to any investment decisions or transactions of the Client. 10. REPRESENTATION AND WARRANTIES OF CLIENT: The Clientrepresents and warrants to the Stock Broker that: 10.1 All the information provided and statements made in the Client s ITORS Account Application are true and correct and are not misleading (whether by reason of omission to state a material fact or otherwise) and the Client is aware that the Stock Broker has agreed to provide the Stock Broker s ITORS Service to the ITORS System or Service or the Exchange s service or systems for any reason whatsoever The Client has the required legal capacity to, and is authorized to, enter into this Agreement and is capable of performing his/her obligations and undertakings hereunder All actions required to be taken to ensure compliance of all the transactions, which the Client may enter into pursuant to this Agreement with all applicable laws, shall be completed by the Client prior to such transaction being entered into The Client shall abide by the Exchange Provisions and the terms of the Stock Broker s ITORS WebSite in force from time to time Any instructions given by an authorized representative of the Client to the Stock Broker (or to the Stock Broker s representative) shall be binding on the Client. 11. REPRESENTATIONS AND WARRANTIES OF THE STOCK BROKER: The Stock Broker represents and warrants to the Client that: The Stock Broker s ITORS System has been approved by the Exchange. Where the ITORS system has not been approved by the Exchange, the Stock Broker has applied/ proposes to apply to the Exchange to approve the said ITORS System and the Stock Broker will commence the Stock Broker s ITORS Service only after the Exchange has approved the Stock Broker s ITORS System. 12. MARKET DATA: 12.1 The Client understands that the Exchange asserts a proprietary interest in all of the market data it furnishes, directly or through the Stock Broker or otherwise. The Client understands that the Exchange does not guarantee the timeliness, sequence, accuracy or completeness of market data or any other market information, or any messages disseminated by it. Neither the Stock Broker nor the Continued on page 41 40

42 Exchange shall be liable in any way for incorrect, misleading, incomplete or dated data or information and, if the Client acts on the basis of the same, he/ she shall do so at his/her own risk and cost The Client shall not furnish market information provided by the Exchange to any other person or entity for consideration or otherwise and in the event the Client uses such information he/she shall do so at his/her own risk and cost. 13. NOTICES: 13.1 Any notice or other communication to be given by any party to the other in connection with this Agreement shall be in writing and shall be deemed duly served if delivered personally or sent by facsimile transmission or by prepaid registered post or by to the addressee at the address or (as the case may be), the or facsimile number (if any), of that party set opposite its name below: To Stock Broker at: INDIA INFOLINE LTD., IIFL House, Sun Infotech Park, Road No. 16V, Plot No.B-23, Thane Industrial Area, Wagle Estate, Thane Fax No.: [email protected] To the Client at: Name of the person concerned: Address: Fax: or at such other address, facsimile number or address as the party to be served may have notified the other in accordance with the provisions of this Clause. Notwithstanding anything stated above, communication relating to orders, margins, maintenance calls and other similar matters in the ordinary course of dealings between the Stock Broker and the Client may be communicated orally. 14. EXTRAORDINARY EVENTS: The Stock Broker and/ or its agents will not be liable for losses caused directly or indirectly by government restriction, Exchange or market rulings, suspension of trading, computer, communication, telephone or system failure, war, earthquakes, flood, accident, power failure, equipment or software malfunction, strikes or any other conditions beyond the Stock Broker s control. 15. AMENDMENT TO AGREEMENT: The Client understands and agrees that the Stock Broker may discontinue his/her ITORS Service in part or in its entirety and change the terms of the Service (including the terms on the Stock Broker s ITORS WebSite) at any time and from time to time, without prior notice. 16. TERMINATION OF AGREEMENT: The Client agrees that the Stock Broker may at any time terminate this Agreement. The Client is aware and accepts that in view of the nature of the transactions and dealings involved in providing the Service it may not be possible for the Stock Broker to give advance notice of such termination or suspension to the Client The Client may at any time terminate this Agreement by not less than seven days notice to the Stock Broker, provided that unless the Stock Broker otherwise permits, the Client shall not be entitled to terminate this Agreement unless the outstanding amount or securities are paid/ delivered by the Client to the Stock Broker The termination of this Agreement shall not affect any rights or obligations of either party which have accrued prior to the termination or which may arise out of or in connection with acts done or omitted prior to the termination The provisions of Clauses 14, 20 and 21 of this Agreement shall survive the termination of this Agreement. 17. SEVERABILITY: In the event of any provisions of this Agreement being held to be or becoming invalid, unenforceable or illegal for any reason, this Agreement shall remain otherwise in full force apart from the said provision which will be deemed deleted. The parties shall however attempt to replace the deleted provision with a legally valid provision that reflects the same purpose as the deleted provision to the greatest extent possible. 18. WAIVER: No forbearance, relaxation or inaction by any party at any time to require the performance of any provision of this Agreement shall in any way affect, diminish, Whereas i. The Stock Broker is a Stock Broker of the Bombay Stock Exchange ( the Exchange ) and is also registered with the Securities & Exchange Board of India ( SEBI ) as a Stock Broker with SEBI Registration No. INB ; ii. The Client is a Client/constituent of the Stock Broker, and the Stock Broker and the Client have entered into a Stock Broker-Client Agreement dated the day of, in accordance with the model agreement prescribed by SEBI ( the Main Stock Broker-Client Agreement ); iii. The Stock Broker offers and/or proposes to offer the ITORS Service to its Client s; and the Client desires to avail of the Stock Broker s ITORS Service for purchasing, selling or otherwise dealing in securities; iv. The Stock Broker and the Client desire to enter into this Supplemental Agreement to the Main Stock Broker-Client Agreement in order to record the agreement between them relating to the Continued on page 42

43 StockBroker s ITORS Service to be availed of by the Client. 19. LAW AND JURISDICTION: 19.1 This Agreement shall be governed by and construed in all respects in accordance with the laws of the Republic of India and, subject to the provisions of Clause 21, the courts at Mumbai, India shall have jurisdiction over this Agreement and the arbitration proceedings in relation to the Agreement This Agreement and all contracts and transactions between the Stock Broker and the Client pursuant hereto shall be subject to the Exchange Provisions, the Rules, Bye-Laws, Regulations, and other provisions of its Clearing House, if any, the provisions of the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act of 1956 and the rules and regulations made thereunder and as amended from time to time. 20. DISPUTE RESOLUTION: Any claim, dispute or difference arising between the Parties hereto in respect of this Agreement or any contracts, dealings or transactions pursuant hereto or any rights, obligations, terms or conditions as contained in this Agreement or the interpretation or construction of this Agreement shall be subject to the grievance redressal procedure of the Exchange and shall be subject to the arbitration procedure as prescribed by the Exchange Provisions. 22. CONDITIONS GOVERNING TRADING IN SECURITIES OTHER THAN ON THE FLOOR OF THE STOCK EXCHANGE: The Stock broker is also engaged in marketing and distribution of IPOs of Securities of Issuers and registered with the Association of Mutual Funds in India (AMFI) as a Mutual Fund Distributor. The Stock broker is providing a facility through its ONLINE services to apply/purchase/redeem/sale/ buyback or otherwise deal in the units of Mutual Funds and securities (hereinafter referred to as transactions ) through its website (located at url and such other internet sites that the stock broker may launch). The Client wishes to avail of the facility of the said transactions and such other facilities offered through the stock broker s website on the following terms and conditions set forth herein below. The terms and conditions contained herein are binding on the client. The client has agreed to obtain services from the Stock Broker after fully understanding the terms and conditions. The terms and conditions shall be subject to modification from time to time and such modifications are binding on the client. For the purpose of this Agreement, National Stock Exchange of India Limited and the Bombay Stock Exchange Limited and MCX Stock Exchange Limited shall be known as the Stock Exchanges. 1) The client shall authorize the stock broker by executing a Power of Attorney in the favour of the stock broker to execute instructions of the client or its authorized representative with regard to the transactions including but not limited to acquire by subscribing to or by purchase of securities and to sell, transfer, endorse the securities (including but not limited to Initial Public Offerings, Buy back offers, right issues etc.) or redeem the same either through Internet (using the identification number issued by any Mutual Fund from time to time) or otherwise and/or to sign and execute all transfer deeds whether as transferor or transferee and such other instruments, application and papers as may be necessary for the purpose of acquiring, transferring/ redeeming the same, marking pledge/ lien on such securities and/or for transferring the investments in the units of Mutual Fund from one scheme to another or between mutual Funds, to make application for, or to renounce and sign renounciation forms in respect of bonds/ debentures, right shares and additional shares of any company/ Body/ Authority and to receive and hold such rights or additional shares, bonds or debentures. 2) All instructions given by the client/ its authorized representative shall be binding on the client. The stock broker may furnish a certified copy of the Power of Attorney and other documents on behalf of the client to the Company/ Registrar/ Mutual Fund or any third party. 3) The client agrees that the instructions with regard to the transactions may be in the client s sole name or in the name of the client jointly with other persons. 4) The instructions with regard to the transactions may be given through internet or telephone or any other reasonable mode as permitted by the stock broker. 5) The stock broker may refuse to act on any instructions unless they are given in the manner and form acceptable to the stock broker. However, the stock broker shall have no responsibility to determine the authenticity of any instructions given or purported to be given by the client. The client shall not hold the stock broker liable on account of the stock broker acting in good faith on instructions given by the client or its authorized representative. 6) The stock broker may at its discretion not carry out the client s instruction where the stock broker has reasons to believe (which discretion of the stock broker the client shall not question or dispute) that the instructions are not genuine or are otherwise improper/ unclear/ raise a doubt. The stock broker shall not be liable if any instructions are not carried/ partly carried out for any reason, whatsoever. 7) The client understands and agrees the mutual fund/ RTA/ Issuer Company may cancel, close or reject any contract suo-moto without giving any reason Continued on page 43 42

44 thereof. In the event of such cancellation, closure or rejection, the stock broker shall be entitled to cancel relative contract(s) with Client. 8) The client understands and agrees that the Stock Exchange may cancel, close or reject any trade suomoto without giving any reason thereof. In the event of such cancellation, closure or rejection, the stock broker shall be entitled to cancel relative contract(s) with Client. 9) In case of Mutual Funds, the client agrees and acknowledges that the stock broker shall provide the facilities as provided in this agreement only in respect of the select Mutual Funds, with whom the stock broker has entered into a separate arrangement/ agreement. 10) The client undertakes to read all the relevant Offer Documents and addendums thereto and terms and conditions of all schemes of all mutual funds and other issues of securities including but not limited to Initial Public Offerings/ Public Offers, Rights issue and Buy Back offers, offered through stock broker s website; before entering into any transactions through the website and agrees to abide by the terms, conditions, rules and regulations as applicable from time to time. 11) The client shall ensure that the transactions through the stock broker are executed in accordance with the applicable laws, byelaws, rules and regulations governing the specific investment product. The stock broker may, from time to time, impose and vary limits on the orders which the client may place, including but not limited to exposure limits, turnover limits and limits as to numbers. The client agrees that the broker shall not be responsible for any variation or reduction that may be deemed necessary by the stock broker based on its risk perception and other relevant factors. 12) The stock broker shall not be under any duty to verify compliance with any restriction on the client s investment powers. 13) The client is responsible for the personal and bank related details provided by the client. Neither the stock broker nor any of the Mutual Funds/ Issuers or their respective Registrars shall accept any liability which may arise as a consequence of the erroneous information provided by the client. 14) The client agrees that the stock broker is entitled to disclose to a third party, all such information pertaining to the Client as may be required from time to time, for the client to be able to avail of any or all of the services provided by the stock broker under this agreement. 15) In case of change of address and personal details of the client, the client shall send a letter duly signed by all the holders of the demat account to the stock broker giving intimation of the change ) The client agrees and understands that the folio number of the client in respect of the Mutual Fund schemes shall be received by the stock broker from the Asset Management Company. 17) The Client agrees that the client shall not, without prior intimation and acknowledgement of the stock broker, deal/ liaise with the Issuer Company/ Mutual Fund/ Asset Management Company or its respective Registrars in respect of the services availed under this agreement. 18) Further, any change in the details of the client including but not limited to the Demat account, Bank Account, Address, shall be first intimated to the stock broker who may in turn liaise with the Issuer Company/ Mutual Fund/ Asset Management Company or its respective Registrars to update such changes. The Issuer Company/ Mutual Fund/ Asset Management Company or its respective Registrars may reject such requests and in such an event the stock broker shall not be liable for any such rejection. 19) The client further agrees that the client shall not close/ change the details of the Demat account/ Bank account without prior notification to the Stock broker and the Client agrees that the stock broker may instruct the Depository Participant/ Bank of the Client to reject any such request received from the Client. 20) The Client shall provide the stock broker with its Permanent Account Number (PAN). In the event the Client has mentioned Not Applicable against PAN in the Application Form, the client confirms that the client is exempted from obtaining a PAN under the provisions of the Income Tax Act, However, in the event the client s bid /application is for Rs. 50,000 or more and PAN is not provided, the client shall be required to submit Form 60 or Form 61 as the case may be together with permissible documents as proof of address. 21) The client acknowledges that the purchase/ application instructions shall be processed by the stock broker only after sufficient funds to cover the purchase/ application price and other costs and charges are received by the stock broker. 22) If after execution of any transaction it is for any reason found that the stock broker has not been provided with sufficient funds by the client, the client shall pay the deficient amount to the stock broker forthwith on demand, failing which the stock broker may (but shall not be bound to) square up the transaction at any time at the client s sole risk and cost. Any loss arising on such squaring up will be borne solely by the client and the client shall pay to the stock broker the additional amount that may be payable by the client, the stock broker s demand being conclusive. 23) The client declares and confirms that the amount being invested by the client either directly or through Continued on page 44

45 its Power of Attorney holders, in any schemes of all mutual funds or other securities including but not limited to Initial Public Offerings/ Public Offers, Rights issue and Buy Back offers is obtained through legitimate sources and is not held or designed for the purpose of contravention of the provisions of any Act, Rules and Regulations or any statue or legislation or any other applicable Laws or any Notifications, directions issued by any Governmental or Statutory Authority from time to time. 24) In case the client is a Non-resident Indian, the client confirms that the funds are remitted from abroad through approved banking channels or from the NRE/ NRO/ FCNR account. 25) If for any reasons, the stock broker is unable to carry out the transactions as instructed by the client/ Client s authorised representative to the extent of full quantity of units/ securities, the stock broker shall be entitled at its discretion and the client hereby irrevocably authorizes the stock broker to carry out a transaction of a lesser quantity of units/ securities. The stock broker shall not be responsible for the non-execution of the client s instructions for the entire quantity or the remaining quantity. 26) The client agrees and acknowledges that any instruction given or purported to be given by the client/ its authorized representative before the cut off time as may be intimated by the stock broker to the client from time to time, will be processed on the same day. Any instruction received after the cut off time will be processed on the next working day, if applicable. 27) In case of Mutual Fund, applicable Net Asset Value (NAV) shall be as per the Offer Document and SEBI Rules and Regulations. The units of scheme shall be allotted, redeemed or switched, as the case may be, at the NAV prevalent on the date of the application, if the application for purchase, redemption or switch is received by the Fund before the cut-off time as specified on the website and consistent with the terms of the scheme. Any request falling due on holiday would be processed on the next business day and respective NAV would be applicable as per Mutual Funds offer documents. 28) In case of other securities, the order for purchase, sell, offer under Buy Back etc. shall be accepted by the Stock Broker only if the same is received by the cut off date as indicated on the website and consistent with the terms of the offer. 29) The client agrees and acknowledges that after the first purchase transaction in any Mutual Fund, the client may not be permitted to transact till the folio number is allotted. The stock broker does not accept any liability for delay in processing time at the Mutual Fund s or Registrar s end. 30) The stock broker shall credit the proceeds of the sale/ redemption etc., if received by the stock broker, any of the Investment Products only after the stock broker has received the same unless specifically agreed otherwise. 31) The Client acknowledges that the stock broker shall not be under any obligation to provide him with any tax, legal, accounting, investment advice or advice regarding the suitability or profitability of investment of any kind, nor does the stock broker, give any advice or offer any opinion with respect to the nature, potential value or suitability of any particular transaction or investment strategy. 32) It is explicitly stated herein that the Mutual Fund Schemes/ Offer Documents/ other schemes offered by the stock broker, have not been/ shall not be understood as recommended by the stock broker. 33) The client can view his/ her/ its transactions on the website. A physical copy of the transactions statement or the account statement shall be sent by the stock broker only on a written request from the client. 34) In case an application is made for Initial Public Offer/ Public Offer/ Units of Mutual Fund through the stock broker, the client authorizes the stock broker to collect on client s behalf, the refund amount, if any, from the Issuer Company/ Registrar/ Asset Management Company/ Mutual Fund and subsequently credit the same to client s Bank account, after set-off/ adjustment of dues payable by the Client on account of obligations incurred in connection with the application. 35) The client further agrees that the stock broker shall not be held responsible for non-allotment of securities either fully or partly to the client, for any reason whatsoever. The stock broker shall not be held responsible in case due to some reason the bid/ application/ revision instructions 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 Bankers/ Registrar to the issue. 36) The stock broker shall not be held responsible for non receipt/ delay in/ incorrect receipt of fund, if any, from the Registrar/ Company. The stock broker shall not be held responsible for incorrect Tax Deduction at Source (TDS) by the Registrar/ company, if applicable, or for non-receipt or delay in/ incorrect receipt of TDS Certificate, if any from the Registrar/ Company/ Mutual Fund. 37) The stock broker shall not be liable for any loss or damage caused by reason of failure or delay of the mutual fund to deliver any units purchased even though payment has been made for the same or failure or delay in making payment in respect of any sold though they may have been delivered. 38) The client understands that the corporate actions including but not limited to Dividends, declared by the Issuer Company/ Mutual Fund shall be directly paid Continued on page 45 44

46 by the Issuer Company/ Mutual Fund to the client. 39) The stock broker shall also not be liable to the client for any delay, failure or refusal of the Mutual Fund/ any Issuer Company/ Corporation or other body in registering or transferring units to the names of the clients of for any interest, dividend or other loss caused to the client arising therefrom. 40) The client agrees to provide the stock broker with any confirmation/ declaration or any other document that the concerned Issuer/ Asset Management Company or any other entity may from time to time require the stock broker to collect from the client in respect of the services offered under this agreement. 41) The stock broker shall not be responsible for any changes in the data of any scheme as carried out in the Offer document or any other documents/ material issued by Asset Management company/ Issuer Company/ Mutual Fund. 42) The stock broker does not accept any liability for delay in processing time at the Mutual Fund s/ Issuer or Registrar s end. The client agrees that the stock broker shall not be liable or responsible for not executing any transactions for any reason, whatsoever. 43) Neither the stock broker, nor any of the Mutual Funds/ nor the issuer shall be liable for any failure to perform its obligations, to the extent that such performance had been delayed, hindered or prevented by systems failures network errors, delay or loss of data due to the aforesaid, acts of God, floods, epidemics, quarantine, riot or civil commotion and war. 44) The client agrees and understands that the application in Mutual Fund/ Initial Public Offering shall be subject to the applicable Acts, Rules, Regulations, guidelines, circulars, notifications, and directives issued by the Regulatory Authorities and Offer Document issued by the respective Mutual Fund/ Issuer. 45) The client further understands and agrees that he/ she shall not place trades at unrealistic prices from current market price of the security or trade in illiquid securities which create artificial liquidity or amounts to manipulation of prices or cross/ synchronized trades. 46) The stock broker shall provide its services on a best efforts basis. However in respect of mutual funds, other securities, including but not limited to Initial Public Offering, Rights issue, Buy Back Offers offered through its website 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 on the part of the client or any agent of the Client or agents or any third party, or c) Any fault in any attachments or associated equipments of the client d) Any incidental, special or consequential damages including without limitation of loss of profit. NAME/ TRADE NAME CLIENT STOCK BROKER INDIA INFOLINE LTD. AUTHORISED SIGNATORY SIGNATURE OF AUTHORISED SIGNATORY DETAILS OF THE WITNESS FIRST WITNESS SECOND WITNESS Names & Address of Witness Signature of Witness * The clauses in the above Annexure are optional and the client is at liberty to strike as any of the clauses which are not applicable to him/her. However such striking out will not invalidate the agreement or render it void in any manner. 45 Continued on page 46

47 To be stamped with Rs.20/- Stamp Paper Prescribed by Depository; Provides basic rights and obligations of client and Depository Participant. Required if Demat account is being opened with IIFL. Login ID: Client ID: DP - CLIENT AGREEMENT BETWEEN A PARTICIPANT AND A PERSON SEEKING TO OPEN A BENEFICIAL OWNER'S ACCOUNT This Agreement made and entered into at on this day of, 20 between INDIA INFOLINE LTD. (description of the legal entity) having his/its office/ registered office at 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 , hereinafter called "the Participant" of the ONE PART; AND, 1) situated at 29 2) situated at 3) situated at (description of the legal entity) hereinafter called "the Beneficial Owner" of the OTHER PART. WHEREAS the Beneficial Owner is desirous of opening a beneficial owner's account with the Participant and the Participant has agreed to open an account in the name of the Beneficial Owner and render services to the Beneficial Owner as a participant, on the terms and conditions recorded hereinbelow: NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: 1. GENERAL CLAUSE: The parties hereto agree to abide by the provisions of the Depositories Act, 1996, SEBI (Depositories and Participants) Regulations, 1996, Bye Laws and Operating Instructions issued by CDSL from time to time in the same manner and to the same extent as if the same were set out herein and formed part of this Agreement. 2. FEES, CHARGES AND DEPOSITS: The Participant shall be entitled to change or revise the fees, charges or deposits from time to time provided however that no increase therein shall be effected by the Participant unless the Participant shall have given at least one month's notice in writing to the Beneficial Owner in that behalf. In case the Beneficial Owner committing a default in the payment of any such amount payable to the Participant on their respective due dates or within fifteen days of the same being demanded (where no such due date is specified), the Participant shall be entitled to charge interest on the amount remaining outstanding or unpaid not exceeding 18% per annum or part thereof. On such continued default, the Participant after giving two days notice to the Beneficial Owner shall have a right to stop processing of instructions of Beneficial Owners till such time he makes the payment along with interest if any. 3 STATEMENT OF ACCOUNT: 3.1 The Participant shall furnish to the Beneficial Owner a Continued on page 47 46

48 statement of his/its account at the end of every month if there has been even a single entry or transaction during that month, and in any event once at the end of each quarter. [The statement of accounts to be provided to the Beneficial Owner under this Agreement shall be in the form specified in Operating Instructions or as communicated by CDSL from time to time.] The Participant shall furnish such statements at such shorter periods as may be required by the Beneficial Owner on payment of such charges by the Beneficial Owner as may be specified by the Participant. 3.2 It is agreed that if a Participant is providing the services of issuing the statement of accounts in an electronic mode and if the Beneficial Owner is desirous of availing such services from the Participant, then the Participant will furnish to the Beneficial Owner the statement of accounts under its digital signature, as governed under the Information Technology Act, Provided however that in the event of the Beneficial Owner requiring a physical copy of the statement of accounts, despite receiving the same in the electronic mode, then irrespective of having forwarded the same via electronic mode, the Participant shall be obliged to provide a physical copy thereof to the BO. 3.3 It is agreed and understood between the parties that if the Participant does not have the facility of providing the statement of account in the electronic mode, then the Participant shall be obliged to forward the statement of account only in physical form. 4. BENEFICIAL OWNER SHALL INTIMATE CHANGE OF PARTICULARS: The Participant shall not be liable or responsible for any loss that may be caused to the Beneficial Owner by reason of his/its failure to intimate change in the particulars furnished to the Participant from time to time, unless notified by the Beneficial Owner. 5. DEPOSITORY NOT LIABLE FOR CLAIMS AGAINST BENEFICIAL OWNER: CDSL shall not be liable to the Beneficial Owner in any manner towards losses, liabilities and/ or expenses arising from the claims of third parties or for any fees, charges, taxes, duties, levies or penalties levied, imposed or demanded by any Central, State, statutory or revenue authority in respect of securities credited to the Beneficial Owner's account. 6. AUTHORISED REPRESENTATIVE: Where the Beneficial Owner is a body corporate or a legal entity, it shall, simultaneously with the execution of the Agreement furnish to the Participant, a list of officials authorized by it, who shall represent and interact on its behalf 47 with the Participant. Any change in such list including additions, deletions or alterations thereto shall be forthwith communicated to the Participant. 7. CLOSURE OF ACCOUNT: The Beneficial Owner, may, at any time terminate this Agreement by calling upon the Participant to close his/its account with the Participant in the manner and on the terms and conditions set out in the Bye Laws and the procedure laid down in the Operating Instructions. In the event of termination of this Agreement the Beneficial Owner shall either get the securities transferred to some other account or get the same rematerialised. 8. STAMP DUTY: Any stamp duty (including interest or penalty levied thereon) payable on the Agreement and/ or on any deed, document or writing executed in pursuance hereof between the parties hereto shall be borne and paid by the Beneficial Owner. 9. FORCE MAJEURE: Notwithstanding anything contained herein or in the Bye Laws, neither party hereto shall be liable to indemnify or compensate the other for any breach, nonperformance or delay in performance of any obligations under the Agreement or for any harm, loss, damage or injury caused to the other due to causes reasonably beyond its control including but not limited to tide, storm, cyclone, flood, lightning, earthquake, fire, blast, explosion or any other act of God, war, rebellion, revolution, insurrection, embargo or sanction, blockade, riot, civil commotion, labour action or unrest including strike, lock-out or boycott, interruption or failure of any utility service, enemy action, criminal conspiracy, act of terrorism or vandalism, sabotage, or intrusion, or any other irresistible force or compulsion. 10. SERVICE OF NOTICE: Any notice or communication required to be given under the Agreement shall not be binding unless the same is in writing and shall have been served by delivering the same at the address set out hereinabove against a written acknowledgement of receipt thereof or by sending the same by pre-paid registered post at the aforesaid address or transmitting the same by facsimile transmission, electronic mail or electronic data transfer at number or address that shall have been previously specified by the party to be notified. Notice given by personal delivery shall be deemed to be given at the time of delivery. Notice given by post in accordance with this clause shall be deemed to be given at the commencement of business of the recipient of the notice on the third working day next following its posting. Notice sent by facsimile Continued on page 48

49 transmission, electronic mail or electronic data transfer shall be deemed to be given at the time of its actual transmission. 11. ARBITRATION: The parties hereto shall, in respect of all disputes and differences that may arise between them, abide by the provisions relating to arbitration and conciliation specified under the Bye Laws. 12. JURISDICTION: The parties hereto agree to submit to the exclusive jurisdiction of the courts in Mumbai. 13. GOVERNING LAW: The Agreement shall be governed by and construed in accordance with the laws in force in India. IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands/ seals to this Agreement in duplicate on the day, month, year and place first hereinabove mentioned. Signed and delivered by: 30 AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY (for and on behalf of the Client) Signed and delivered by (for and on behalf of the Depository Participant) Witness: Name Address 2. Witness: Name Address 48

50 AUTHORISATION LETTER FOR RECEIVING TRANSACTION STATEMENT THROUGH INTERNET THIS AUTHORIZATION FORMS PART OF DP-CLIENT AGREEMENT 1) situated at 31 2) situated at 3) situated at (hereinafter called "the Client") and INDIA INFOLINE LTD. situated at 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 (hereinafter called "the Depository Participant"). WITNESSETH WHEREAS the Client has permitted the Depository Participant to provide the transaction statement through internet. NOW THEREFORE in consideration of the Depository Participant having agreed to provide the transaction statement through internet, both the parties to the agreement hereby covenant and agree as follows: i. The Depository Participant shall install adequate systems to restrict the access of the transaction statement only to the Client. ii. The Client shall take all the necessary steps to ensure confidentiality and secrecy of the log-in name and password. iii. The Client is aware that the transaction statement may be accessed by other entities in case the confidentiality/ secrecy of the login name and password is compromised. iv. The Depository Participant and the Client shall have the right to terminate this agreement after giving a notice of atleast 10 days to the other party. v. The client agrees that the DP is authorised by him to disclose any information pertaining to the client s a/c and the balances in the said a/c to the DP and the owner of the website 5paisa.com (India Infoline Ltd.) without notice to the client. vi. In case the Client opts for transaction statement through , it shall immediately inform the Participant about SIGNED AND DELIVERED BY change in address, if any. The Participant shall verify and confirm with the Client about the change. Further, the Participant shall confirm with the Client about validity of the address atleast once in a year. vii. The Client agrees not to receive Transaction Statement in paper form from the Participant. Provided however that, in case when the Participant is not able to provide Transaction Statement to its Client's through Internet (web-based/ ) due to any unforeseen problems, the Participant should ensure that the Transaction Statement reaches to the Client in physical form as per the time schedule stipulated in the Bye Laws & Business Rules of CDSL. viii. The client further undertakes to indemnify the DP wholly against any loss, injury, claim or damages that may be suffered by it due to or consequence upon such discloser of infomation without notice to the client. ix. The above terms and conditions are in addition to and not in violation of the terms and conditions forming a part of the AGREEMENT BETWEEN THE DEPOSITORY PARTICIPANT AND THE PERSON SEEKING TO OPEN AN ACCOUNT WITH THE DEPOSITORY PARTICIPANT signed by the Client at the time of opening the account with the Depository. IN WITNESS WHEREOF the Depository Participant and the Client has caused these presents to be executed as of the day and year first above written. (for and on behalf of the Depository Participant) SIGNED AND DELIVERED BY 32 AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY (for and on behalf of the Client) DETAILS OF THE WITNESS 49 Names & Address of Witness Signature of Witness FIRST WITNESS SECOND WITNESS

51 To be stamped with Rs.100/- Stamp Paper Login ID: POWER OF ATTORNEY To be stamped on Rs.40/- Stamp Paper Voluntary and Limited purpose POA in favour of Broker for operational requirements as per client authorization/ instruction. POWER OF ATTORNEY IN FAVOUR OF INDIA INFOLINE LIMITED This Power of Attorney (POA) is made by the persons mentioned in the Schedule 1 in favour of "INDIA INFOLINE LIMITED", a company incorporated under the provisions of the Companies Act, 1956 in India and having its registered office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No.B-23, Thane Industrial Area, Wagle Estate, Thane and Central Processing and Record keeping office at India Infoline Tower, No.143, M.G.R. Road, 3rd Floor, Central Processing Unit (CPU), Perungudi, Near Life Line Hospital, Chennai (hereinafter referred to as 'IIFL', an expression deemed to mean and include its successors and assigns) WHEREAS India Infoline Limited is a member of the National Stock Exchange of India Limited ("NSE") (bearing SEBI registration nos. INB , INF & INE on the Capital Market Segment, Futures & Options Segment and Currency Derivatives Segment respectively), Bombay Stock Exchange Limited ("BSE") (bearing SEBI registration nos. INB and INF on the Cash Market Segment and Derivatives Segment) and MCX Stock Exchange Limited (bearing SEBI registration no. INE on Currency Derivatives Segment). AND WHEREAS India Infoline Limited is a Depository Participant with the National Securities Depository Limited (hereinafter referred to as "NSDL") having SEBI registration number IN-DP-NSDL and with Central Depository Services (India) Limited (CDSL) having SEBI registration number IN-DP-CDSL AND WHEREAS India Infoline Limited is registered with Association of Mutual Funds in India (AMFI) as Mutual Fund Distributor having Registration no. ARN AND WHEREAS I/ We wish to avail / I/We am/ are a client availing of the services offered by IIFL and has entered into necessary agreement(s) ("Client Agreements") with IIFL for transacting in securities with/ without On-Line trading/ E-broking & web based facilities and/ or services through its website or any other website used for offering said Services. Details of my/ our Trading and Demat account with IIFL are provided in Schedule 1 AND WHEREAS for facilitating smooth operations of the said services being availed from IIFL by me/ us, I/ We am/ are desirous of appointing an attorney and confer upon it powers hereinafter stated. NOW THESE PRESENTS WITNESS that I/ We, do hereby, jointly and severally nominate, constitute and appoint "India Infoline Limited" being a Stock Broker and Depository Participant registered with Securities and Exchange Board of India ("SEBI")acting through any of its directors, officers and/ or agents, as my/ our true and lawful Constituted Attorney (hereinafter referred to as the said Attorney) for me/ us, in my/ our name and on my/ our behalf and at my/ our risk and costs to do, exercise and perform all or any of the following acts, deeds and things: 1. To instruct the Depository Participant, being IIFL to transfer securities held in my/our beneficial owner/ demat account as provided in Schedule 2 or such other demat account as may be intimated by me/us to IIFL from time to time ("client designated demat accounts") to such demat account of IIFL as provided in Schedule 2 and/ or designated by IIFL and intimated to me from time to time ("IIFL designated demat account") towards stock exchange related margin/ delivery obligations arising out of trades executed by me/ us through IIFL on any Stock Exchange in any segment including cash, derivatives and currency derivatives segment. 2. To make application and/ or issue instruction for creation/ invocation/ closure of pledge on the securities/units held in my/ our client designated demat accounts in favour of IIFL for the limited purpose of meeting the margin requirements in connection with the trades executed by me/ us through IIFL on any Stock Exchange in any 33 A1

52 segment including cash, derivatives and currency derivatives segment. 3. To credit my/ our client designated demat accounts with any securities that are to be delivered to me/ us/ borrowed by me/ us. 4. Generally to do all such acts, deeds, matters and things as may be necessary for or incidental to ensure that all payments for and delivery of securities arising out of transactions undertaken by me/ us under the agreements are duly and properly completed. 5. Pursuant to my/ our instruction, to make necessary applications on my/ our behalf to any officials or authorities in India, including but not limited to, the Central Government, and/or the Reserve Bank Of India, Income Tax Authority, Stock Exchanges, Securities and Exchange Board of India in connection with my/ our purchase/ sale/ transfer holding and continuing to hold securities, and to represent me in all respects before such authority/ies and establish without encumbrance the ownership of securities in my name. 6. The term "Securities" shall include shares, scrips, stocks, bonds, warrants, options, futures, derivatives, convertible debentures, non-convertible debentures, securitized debt instruments, fixed return investment, equity linked instruments or other marketable Securities of a like nature in or of any incorporated company or other body corporate, negotiable instruments including usuance Bills of Exchange, deposits or other money market instruments, commercial paper, certificate of deposit, units issued by Unit Trust of India and units issued by Mutual Funds, mortgage backed or other asset backed Securities issued by any institution or body corporate cumulative convertible preference shares issued by any incorporated company and Securities issued by any incorporated company and Securities issued by the Central Government or a State Government for the purpose of raising public loan and having one of the forms specified in Clause (2) of Section 2 of the Public Debt Act, 1944, any other new form of capital or money market instruments that may be issued in the future by any incorporated company/ firm/ institution or Government. 7. Pursuant to my/ our instruction or instruction of my/ our Authorised Representative, to apply for various products like Mutual Funds, Public issues of securities including debentures, rights, offer of shares, tendering shares in open offers etc. 8. Pursuant to my/ our instruction or instruction of my/ our Authorised Representative, to acquire by subscribing to or by purchase of securities or any other investment products and to sell, transfer and endorse the same or redeem the same or otherwise deal in the securities and/ or any other investment products including but not limited to Initial Public Offerings, Further Public Login ID: Offerings, Buy Back Offers, Right Issues either through internet using identification number issued by any Authority from time to time or otherwise, and/ or to sign and to execute all transfer deeds whether as transferor or transferee and such other instruments, applications and papers as may be necessary for acquiring or transferring/redeeming the same, marking pledge/lien on such securities and/or for transferring the investments in the units of Mutual Funds from one scheme to another or between Mutual Funds and/ or otherwise as may be required to deal in the securities or other investment products. 9. Pursuant to my/ our instruction or instruction of my/ our Authorised Representative, to make applications for or to renounce and sign renunciation forms in respect of bonds/ debentures, right shares and additional shares of any Company/ Body/ Authority and to receive and hold such rights or additional shares bonds or debentures. 10. To issue orders and instructions for acquisitions and disposal of investments for and on behalf of myself/ ourselves and to purchase or otherwise acquire, sell or otherwise dispose off and invest in securities. 11. To sign the necessary forms and other documents if any and to file the same with the company/ies and/ or Mutual Fund concerned for purchase, sell, redemption or otherwise transfer of such securities/ units of Mutual Funds and transferring it in my/ our name. 12. To forward all such applications placed through the website to the online-ipo module of the concerned Exchange or owner/ issuer of Investment Product. 13. To receive statements and other documents pertaining to the above units/ securities and to acknowledge receipt of the same. 14. To do all such acts and things as may be necessary to effect the subscription/ purchase/ redemption or any other transaction in any securities and/ or Investment Product for which services are availed from IIFL. 15. To debit the purchase price of such securities or any other fees/ charges etc. due to IIFL and to discharge all obligation in this regard on my/ our behalf to IIFL, in my account with India Infoline Ltd. 16. To operate and to give delivery/ receive instructions, borrowing and lending instructions, pledge instructions, pledge closure instructions and to do all such other things that may be necessary in the course of business relating to operation of client designated demat account(s) or towards the obligation for transactions done through IIFL on NSE and BSE any other Exchange, under my/our instructions. 17. To execute the share transfer requests given by me/us through the website or any other medium and process the documents authenticated by authorized signatories empowered to do so in this regard. 34 A2

53 Login ID: 18. To square off at its discretion my/ our position of transactions that are not delivery marked during the day. 19. To demand, receive and give good and effectual receipt(s) and discharge(s) for all or any dividends, interest, bonuses or any other sum(s) and/ or income arising from the shares, debentures, units and other investments and to sign and endorse pay orders, dividend/ interest warrants or certificates, receive all debts, sums of money, principal, interest, dividend or other dues of whatever nature or account which are now or at any time due and payable and belong to me/ us. 20. For the purpose of the aforesaid to sign contracts, agreements, transfers, acceptances, receipts, or other instruments, documents and forms, to accept and carry out correspondence with such person(s) or authority/ authorities or department(s) and to do all such lawful acts requisite for effecting the same. 21. To correspond with and give notice to the corresponding Asset Management Company/ Body Corporate/ Registrar & Transfer Agent of securities including but not limited to giving instructions with regard to nomination/change in investment plans/any other changes that may be necessitated/ instructed by me/ us. 22. To comply and/ or cause to be complied with all statutory and other requirements attached to or arising out of these premises and for these purpose to take such steps and actions necessary or proper, including signing of affidavits, indemnity, declarations, legal documents, deeds and writings required. 23. To send consolidated summary of my/ our scrip wise buy and sell positions taken with average rates by way of SMS/ at my/ our registered mobile no./ id as provided by me/ us through contract note or any other intimation, on a daily basis, notwithstanding any other document to be disseminated as specified by SEBI from time to time. 24. To arrange to return to me/ us the securities that may have been received by IIFL erroneously or those securities that IIFL is not entitled to receive from me/ us. 25. For all or any of the purpose aforesaid to appoint from time to time a representative and to revoke such representation but so that the appointment of any such representative shall not affect or prejudice the rights or powers of the Attorney to act hereunder and the Attorney may continue to do so notwithstanding such appointments. 26. To do or omit to do all such acts and things as IIFL may in its discretion consider to be necessary or desirable in order to exercise its powers hereunder or to comply with any laws, orders, rules, regulations or directions of any government or regulatory or other authorities. 27. My/ Our Attorney IIFL shall not be liable for any loss that may result from failure/ inability of electronic connectivity or rejection of my/ our application for any reason whatsoever. 28. My/ our Attorney IIFL shall not be liable for any transaction processed on the basis of information provided by IIFL to the issuers/ owners of securities or investment products in the applications or otherwise based on the information provided by me/ us. AND I/ We hereby agree that IIFL shall exercise such powers and authorities conferred under the above Power of Attorney only pursuant to the instructions in that behalf given by me/ us or my/ our Authorised Representative, which may be given orally, over the telephone, through the internet, electronically or in any other manner acceptable to IIFL and such instructions shall be deemed to have been given by me/ us and shall not be questioned by me/ us and shall be conclusive and binding on me/ us. My/ Our "Authorised Representative" for the purpose this Power of Attorney shall mean Mr., or such other person appointed by me/ us and intimated by me/ us in writing to the Attorney from time to time. AND I/ We hereby agree that all such acts done by my/ our above mentioned attorney shall be deemed to be acts done by me/ us and if necessary shall be ratified by me/ us on the instructions of the said attorney. AND I/ WE DO HEREBY CONFIRM AND DECLARE THAT this Power of Attorney shall be valid, effective and operative and shall remain in force till the termination of the Member -Client Agreement and/ or any other agreement(s) that I/ We have entered into with IIFL. I/ We may revoke this Power of Attorney at any time by giving a notice to IIFL in writing and the cessation of this authority shall not affect or impair any act thereto done in exercise of these presents. Such notice shall be duly signed by me/ us and should be received at : India Infoline Tower, No.143, M.G.R. Road, 3rd Floor, Central Processing Unit (CPU), Perungudi, Near Life Line Hospital, Chennai The revocation shall be subject to due receipt, verification and processing of the same by IIFL. I/ We hereby undertake to ensure that prior to the revocation of this power of attorney all amounts of debit balances including penalties and other charges & expenses till the date of revocation due to the Attorney as per its records are paid/ cleared in full. This document shall be subject to the jurisdiction of the Courts in Mumbai. MADE and executed at Mumbai on this day of A3

54 SCHEDULE 1 First/ Sole Holder (Trading Account Client) Second Holder Third Holder Trading Account No./ Client ID Demat Account No. Login ID: Name Age Address Schedule 2 Client Designated Demat Account Nos. IIFL Designated Demat Account Nos: DP Name: INDIA INFOLINE LIMITED DPID: DPID: IN IN WITNESS WHEREOF I/We have hereunto set and subscribed my/our respective hands to these presents the day and the year herein above written. Signed and Delivered by Sole/ First Holder (for and on behalf of the Client) CLIENT S WITNESS FOR POWER OF ATTORNEY 36 Second Holder Third Holder Witness 1 Witness 2 Name Address Name Address Signature Signature We hereby agree to exercise the powers conferred upon us in terms of the clauses mentioned hereinabove. For India Infoline Limited Authorised Signatory Date: A4

55 TERMS AND CONDITIONS-CUM-REGISTRATION/ MODIFICATION FORM FOR RECEIVING SMS ALERTS FROM CDSL (* Registration for receiving SMS alerts from CDSL is mandatory for the client who are executing the POA in favour of stock broker.) ANNEXURE DEFINITIONS: In these Terms and Conditions the terms shall have 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 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 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 the purpose of security reasons or system maintenance or for 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. to the mobile number as 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 on 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 event of 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' and in a mode to receive the SMS. If the mobile phone is in 'Off'' mode i.e. unable to receive the alerts then the BO may not get/ get after delay any alerts sent during such period. 3. The BO also acknowledges that the readability, accuracy and timeliness of providing the service depend on many factors including the infrastructure, connectivity of the service provider. The depository shall not be responsible for any non-delivery, delayed delivery or distortion of the alert in any way whatsoever. 4. The BO further acknowledges that the service provided to him is an additional facility provided for his convenience and is susceptible to error, omission and/ or inaccuracy. In case the BO observes any error in the information provided in the alert, the BO shall inform the depository and/ or the DP immediately in writing 50

56 and the depository will make best possible efforts to rectify the error as early as possible. The BO shall not hold the depository liable for any loss, damages, etc. that may be incurred/ suffered by the BO on account of opting to avail SMS alerts facility. 5. The BO authorizes the depository to send any message such as promotional, greeting or any other message that the depository may consider appropriate, to the BO. The BO agrees to an ongoing confirmation for use of name, address and mobile number for marketing offers between CDSLand any other entity. 6. The BO agrees to inform the depository and DP in writing of any unauthorized debit to his BO account/ unauthorized transfer of securities from his BO account, immediately, which may come to his knowledge on receiving SMS alerts. The BO may send an to CDSL at The BO is advisednot to inform the service provider about any such unauthorized debit to/ transfer of securities from his BO account by sending a 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 best efforts to provide the service. The BO cannot hold the depository liable for nonavailability of the service in any manner whatsoever. 9. If the BO finds that the information such as mobile number etc., has been changed with out 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 warranty 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 user 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 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 fee/ 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 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. 51

57 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. I/ We provide the following information for the purpose of REGISTRATION/ MODIFICATION (Please cancel out what is not applicable). DP ID Sole/ First Holder's Name Second Holder's Name Third Holder's Name Client ID (Please write your 8 digit) First Middle Last First Middle Last First Middle Last Mobile Number on which messages are to be sent (Please write only the mobile number without prefixing country code or zero) The mobile number is registered in the name of First Middle Last ID (Please write only ONE valid ID on which communication; if any, is to be sent) AUTHORISED SIGNATORY AUTHORISED SIGNATORY AUTHORISED SIGNATORY SIGNATURES 37 Place Date AVAILING OF VAS SMS FACILITY* Subscription by client for value added services including receipt of updates on stock prices & margin/ ledger balance of client on their registered mobile number Name Login ID Dear Sir/Madam, I want to avail the below mentioned facilities through SMS over my Mobile 0 No. Subscribe through SMS (Send SUB <your Client id> to and get VAS SMS & make an informed decision by availing the following facilities: Stock ideas by research team Net position of your top five stocks Updates on your stock prices during market hours Updates on Ledger Balance on daily basis For any queries & suggestions call on (022) / 97 or mail us on [email protected] I hereby agree to pay such fees as may be prescribed by IIFL from time to time for availing the above facilities. Whenever I want to discontinue the said facilities, I shall inform to IIFL on the contact number and/ or send mail as mentioned above. I declare that the above is my personal mobile number and is always in my safe custody. I will be solely responsible for the security of the information provided on my aforesaid mobile number. I shall keep IIFL informed of any change in my mobile number. Further, I agree and undertake to indemnify IIFL and its group companies, that they will not be held liable/responsible for any losses, claims, damages, cost and liabilities etc. caused to me due to misuse of this information or pursuant to any litigations, non-litigation cases, complaints, actions, etc. that may arise in future on account of my above authorization request. Yours faithfully, Authorised signatory 38 52

58 AUTHORISATION FOR RECEIPT OF CONTRACT NOTES AND OTHER DOCUMENTS IN DIGITAL MODE Required for issuance of Contract Notes, Statement of Account and other documents on the client's registered id. To, India Infoline Ltd. Mumbai Sir, I/We hereby consent to receive from India Infoline Limited the digital contract notes, bills, ledgers, transaction statements, demat statement of accounts/ holding statement(s)/ bills/ other statements, notices, circulars, amendments and such other correspondence documents, records by whatever name called in electronic form duly authenticated by means of a digital signature as specified in the Information Technology Act 2000 and the rules made thereunder to my below mentioned id (said id). Id I/We further hereby agree that the India Infoline Ltd. shall fulfill the legal obligation, if the above documents are sent electronically to the said id. In this regard, I/we further confirm and agree that: (i) The above is my/ our personal id. I/ We shall take all necessary steps to ensure confidentiality and the secrecy of the login and password of the abovementioned account. IIFL shall not be liable to or responsible for any breach of secrecy. I/We will be solely responsible for the security of the information provided on my/ our aforesaid id. (ii) s sent to any of the above mentioned account, which have not bounced back, shall be deemed to be duly delivered to the me/us. (iii) In the event any sent by IIFL bounces back due to insufficient space in my/our inbox or in the event any network problem occurs, IIFL shall in no way be responsible for the same. (iv) IIFL shall not take cognizance of out-of -office/ out ofstation auto replies and I/We shall be deemed to have received such electronic mails. (v) Such Statements shall be deemed to have been delivered on the day when the is sent by IIFL. (vi) IIFL may at its discretion discontinue to send me/us the Statements in physical form. (vii) IIFL shall not be liable or responsible for any Statement received from frauds or impostors or any consequences thereof. (viii) IIFL shall not be liable for any problem, which arises at my/our computer network because of my/our receiving any Statement from IIFL. (ix) I/We shall inform IIFL by way of a letter in writing duly signed by me or inform through internet platform if there is any change in the given above. (x) I/We undertake to check the Statement and bring the discrepancies to your notice within the time period as specified under the relevant agreements entered into with IIFL. My/Our non-verification or not accessing the Statement on regular basis shall not be a reason for disputing the same at any time. Whenever I/We want to discontinue the said facilities, I/ We shall inform to IIFL immediately in writing in prescribed format. I/We further agree that IIFL will not be responsible for nonreceipt of documents sent via electronic delivery due to change in/incorrect address/ correspondence address as mentioned or any other reason which inter alia include technical reasons or malfunction of my/our computer system/server/internet connection etc. Further I/We agree and undertake to indemnify IIFL and its group companies, that they will not be held liable/ responsible for any losses, claims damages, cost and liabilities etc. caused to me/us due to misuse of this information or pursuant to any litigation cases, complaints, actions, etc that may arise in future on account of my/ our above authorization request. I/We further agree that IIFL may at its sole discretion also provide such Statements in physical form. Yours faithfully, CLIENT SIGNATURE 39

59 RUNNING ACCOUNT AUTHORISATION* Authorisation to maintain my account in Derivative/ Cash segment as a Running Account Authorisation to IIFL a) I would like to keep securities purchased by me with you as collateral for giving me exposure limits in my trading account/margin obligation. I authorize you not to transfer shares/securities purchased by me to my demat beneficiary account and keep them with yourselves. I also authorise you to pledge these shares/ securities with the Clearing Member Exchange/ Custodian, at your discretion. In case any of the shares/ securities are sold in subsequent settlements, you may take this as a standing instruction to adjust against my previous purchase positions. b) Whenever I require delivery of any shares/securities, I shall send you a written request. I understand that such payout of securities will be made subject to your risk management policies. c) In case there is a debit balance in my account, you are authorized to sell at any point of time the shares/ securities purchased by me in previous settlements, at your sole discretion. Any profit or loss made on such transactions will be to my account as it would have occurred on normal purchase/ sale made by me. I also agree to pay the balance amount, if any after deducting credit of sale of shares. d) I also request you not to issue cheques/make payments settlement wise unless specifically demanded by me, as pay-in and payout are very close and therefore exchange of cheque becomes unnecessary paper work. e) I further authorise you to set off/ adjust any of my debits/ dues in any segment of any Exchange with credits of any other segment(s) of any Exchange(s) in my account within the period of settlement of my account (Securities and Funds) as opted by me under Section A. f) I also note that I may revoke the authorisation at any time by giving you written notice atleast seven days in advance to your office. I also undertake to clear all my dues to the member before serving revocation of this authorisation else the member will recover all my dues in my ledger till date and then effect the revocation. g) I also undertake to bring any dispute arising from Statement of accounts or settlement so made to the notice of the Broker within seven working days from the date of receipt of funds/securities or Statement as the cas emay be. So kindly maintain my account as a running account basis for funds and securities. Name Login ID AUTHORISED SIGNATORY Date 40 AUTHORIZATION FOR CONSIDERING OF BALANCE TOWARDS FAMILY/GROUP ACCOUNTS POSITIONS* For the purpose of this clause Family/Group shall mean all the Family/Group individuals, relatives, HUF, group companies/ associate companies/ firm/ entities and such other persons. I hereby confirm that my Family/Group members detailed below will/ have trading accounts with India Infoline Limited (IIFL) on BSE/NSE in Cash and Derivatives segment. In order to facilitate the smooth operations of my account and these accounts with regard to payment of margins (Cash & Collaterals) pay in and payout of Funds and Securities. I hereby authorize you to consider the outstanding in any of these accounts against credits/securities available or arising in my account within the period of settlement of my account (Securities & Funds) as opted by me under Section A. I hereby undertake to intimate you from time to time about any additions or deletion of details of my Family/Group member accounts held with IIFL under this authorisation. I agree that any deletion shall take effect only after the completion of settlement in accounts of the clients belonging to family. 54

60 I have affixed my signature below consenting to consider the outstanding in below mentioned Family/Group accounts held with IIFL to be adjusted against credit/ securities in my account as per the aforesaid terms of adjustment. S.No. Name of the person Relationship with Signature Client Code Account holder SIGNATURE OF THE CLIENT Name of the Client Client Code AUTHORISATION TO SEND PASSWORD BY SMS* Please send my system-generated, internet account first time as well as subsequent, Password on my following mobile number. 0 Also, if I ever need to reset the Password later, the same should also be sent by SMS on the above given mobile number. As soon as I receive the system-generated Password, I shall login and change it for security reasons. I am aware that system-generated Password will automatically expire in 72 hours from the time of sending. I have been explained that I shall set my new Password as may be easy to remember for me, but should not be easy to decipher for anybody else and should be preferably alpha-numeric and not my or any family member s name/ surname. I also confirm that the above mobile number shall be updated in all your records and databases including trading and demat account. 1. I declare that the above is my personal mobile number and is always in my safe custody. I shall keep IIFL informed of any change in my mobile number immediately for updating the same in databases. I am aware that without intimation for change in mobile number, IIFL would not be able to send my Password over new mobile number and also would not be able to update in records and databases. 2. In the event that I do not receive the Password on SMS within 24 hours of opening of account or request for reset of Password, I shall contact the Customer Service Department of the IIFL immediately and request for re-setting of my Password. 3. I am fully aware of the risk of electronic loss/ theft and agree to be solely liable and responsible for the same as well as for any unauthorized use/ misuse of the Password. I understand IIFL will not be responsible or liable in any manner whatsoever for the same. 4. I am aware that in case of change in my mobile number anytime after opening of this account, it is mandatory for me to submit the photocopy of a latest/last two months Mobile bill for postpaid connection. If I have prepaid connection then I have to visit personally to the Branch/FANs alongwith my ID proofs (E.g.: Pan Card or Driving License) and get the documents verified by the branch officials. AUTHORISED SIGNATORY 43 55

61 AUTHORISATION TO PLACE INSTRUCTIONS AND RECEIPT OF DOCUMENTS* TO, INDIA INFOLINE LTD., Mumbai. Dear Sir/ Madam, For a smooth and convenient operation of my account, besides my instruction, I also hereby authorize the following persons to place/give instructions to IIFL for trade, request payouts, receive and acknowledge all documents including Contract notes, Statement of accounts, holding statements, quarterly statements, etc. in my account. I/We shall be responsible for all the instructions/acts and consequences thereof of the person(s) authorised by me. I/We hereby declare and confirm that I will not make IIFL responsible or liable for any acts done based on the instructions of the following authorised person(s): NAME RELATIONSHIP ADDRESS OF SIGNATURE OF THE WITH CLIENT THE AUTHORISED PERSON AUTHORISED PERSON 44 NOTE: 1. Kindly note that authorization should not be issued in favour of any employee or official of IIFL or its group companies /Sub-broker/ Franchisee. 2. The above authorization is given by the client voluntarily. 3. The above authorization would be valid and binding on the client until withdrawn by the client in writing and acknowledged by IIFL. TRADING ACCOUNT DETAILS: NAME AND ADDRESS OF THE ACCOUNT HOLDER LOGIN ID DETAILS OF WITNESS: SIGNATURE WITNESS 1 WITNESS 2 45 NAME, ADDRESS AND SIGNATURE DATE SIGNATURE PLACE SIGNATURE 56

62 Login ID: MUTUAL FUND SERVICE SYSTEM FACILITY AND BSE STAR MUTUAL FUND Required if the client wants to avail Mutual Fund Service System facility & BSE StAR Mutual Fund provided by NSE & BSE respectively To, India Infoline Limited IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane Date: Sir, Sub: Mutual Fund Service System (MFSS) facility / BSE StAR MUTUAL FUND (hereinafter jointly referred to "Mutual Fund Transaction Facilities") I/We (name of the client / first holder) am/are registered as your client with Client Code No. and have executed the Trading Member and Client Agreement for the purpose of trading in the Capital Market segment and F&O/ Derivatives segment of National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Limited (BSE) (hereinafter jointly referred to as "Exchanges"). I/We am/are interested in availing the trading facility of the Exchanges for the purpose of transacting in the units of Mutual Funds Schemes permitted to be dealt with on the MFSS and BSE StAR MUTUAL FUND of NSE and BSE respectively. For the purpose of availing these facilities, I/we state that Know Your Client details as submitted by me/us for the stock broking may be considered for the purpose of Mutual fund transaction facilities and I/we further confirm that the details contained in same remain unchanged as on date. I/We are willing to abide by the terms and conditions as mentioned in the NSE Circular dated 24/11/09, BSE Circular dated 02/12/2009 and further circulars as may be specified by the Exchanges from time to time in this regard. I/We shall also ensure compliance with the requirements as may be specified from time to time by Securities and Exchange Board of India and Association of Mutual Funds of India (AMFI). I/We shall read and understand the contents of the Scheme Information Document and Key Information Memorandum, addenda issued regarding each Mutual Fund Schemes with respect to which I/we choose to subscribe/redeem. I/We further agree to abide by the terms and conditions, rules and regulations of the Mutual Fund Schemes. I/We therefore request you to register me/us as your client for participating in the Mutual fund transaction facilities (MFSS and BSE StAR MUTUAL FUND). Thanking you, Yours faithfully, 46 Authorised signatory Authorised signatory Authorised signatory My our Demat Account No. 57

63 Login ID: Terms and Conditions for availing Mutual Fund Service System (MFSS) facility and BSE StAR MUTUAL FUND offered by NSE and BSE respectively 1. Definition: In these terms and conditions, the terms shall have following meaning unless stated otherwise: 1. "BSE" shall mean Bombay Stock Exchange Limited 2. "Exchanges" shall mean NSE and BSE jointly 3. "Investor/ Client" shall mean client of the Participant who have requested for registration for Mutual Fund Trading facilities. 4. "Participant" shall mean India Infoline Limited 5. "Mutual Fund Transaction Facilities" shall mean MFSS and BSE StAR MUTUAL FUND jointly 6. "NSE" shall mean National Stock Exchange of India Ltd. 2. Pre-requisities: Pre-requisites for becoming Investor/ Client for the Mutual Fund Transaction facilities 2.1 The Client is desirous of investing in units of mutual fund schemes through Mutual Fund Transaction facilities. 2.2 The Client intends to execute his/her instruction for the subscription/redemption of units of Mutual Fund Schemes through the Participant of the Mutual Fund Transaction facilities. 2.3 The client has satisfied itself of the capacity of the Participant to deal in Mutual Fund units and wishes to execute its instruction through the Participant and the client shall from time to time continue to satisfy itself of such capability of the Participant before executing transacting through the Participant. 2.4 The Client has approached to the Participant with the application for availing the Mutual Fund Transaction facilities. 2.5 The client has submitted relevant KYC (Know Your Client) details to the Participants. 3. Terms and Conditions: 3.1 The client shall be bound by circulars issued by Exchanges, Rules, Regulations and circulars issued there under by SEBI and relevant notifications of Government authorities as may be in force from time to time. 3.2 The client shall notify the Participant in writing if there is any change in the information in the 'client registration form' provided by the client to the Participant at the time registering as a client for participating in the Mutual fund transaction facilities or at any time thereafter. 3.3 The client shall submit to the Participant a completed application form in the manner prescribed format for the purpose of placing a subscription order with the Participant. 3.4 The client has read and understood the risks involved in investing in Mutual Fund Schemes. 3.5 The client shall be wholly responsible for all his investment decisions and instruction. 3.6 The client shall ensure continuous compliance with the requirements of the NSE, BSE, SEBI and AMFI. 3.7 The Client shall pay to the Participant fees 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 Participant renders to the Client. 3.8 The client will furnish information to the Participant 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. 3.9 In the event of non-performance of the obligation by the Participant, the client is not entitled to claim any compensation either from the Investor Protection Fund or from any fund of NSE or NSCCL or BSE In case of any dispute between the Participants and the investors arising out of the Mutual Fund Transaction facilities, NSE and/ or NSCCL and BSE agrees to extend the necessary support for the speedy redressal of the disputes. 4. Additional Terms and conditions: 4.1 The client understands and agrees that India Infoline Limited shall make available the Mutual Fund Transaction Facilities for the schemes of Mutual Funds which have entered into an agreement with India Infoline Limited ("eligible schemes"). 4.2 Mutual fund Transaction Facilities provided by India Infoline Limited shall be available for the units of the eligible schemes which are in dematerialized form. The said facility shall not be provided for the units of the schemes which are not available in dematerialized form. 4.3 Client agrees to provide the correct information with respect to its account including information with regard to Bank and Demat account of the client. Any loss / damages caused due to wrong information being submitted by the client shall be sole responsibility of the client and the client shall keep the Participant indemnified for the same. 4.4 Fees: Participant reserves the right to charge such fees from time to time as it deems fit for providing the services to the Client and the Client agrees and 47 Authorised signatory 58

64 Login ID: undertakes to pay fees / brokerage and statutory levies/ charges as may be levied by the Participant from time to time. 4.5 The Client agrees and understands that the Participant is only a facilitator for the client for applying in the Mutual Fund units. Allotment of units shall be at the sole discretion of the respective Asset Management Company ("AMC") and the Participant shall not be held liable or responsible for any act/ deed / non-action of the AMC. 4.6 The client agrees not to hold the Participant responsible for any transactions rejected by the Exchanges / AMC due to any reasons. 4.7 The Client agrees and undertakes to provide funds to the Participant equivalent to the subscription amount and applicable brokerage/ fees / charges before applying for mutual fund units through the Participant. The client further agrees and authorizes the Participant to utilize the surplus funds in the client's Broking account held with the Participant in its capacity as a Stock Broker and transfer funds to the extent of subscription amount and / or applicable brokerage, fees and charges (in case of both subscription and redemption) to meet the debit in the client's Mutual fund transaction account. 4.8 The Client agrees and understands that in absence of sufficient funds in the client's account, the Participant may not execute the client's instruction for applying in any Mutual fund scheme. 4.9 The client agrees and understands that in case physical documents are being submitted for any transaction, the Client shall be solely responsible for the timely submission of the same. Participant shall not be responsible for any lost profits or charges levied by Exchanges / AMC, etc due to non-submission of documents within the prescribed time limits The client agrees that before giving any instruction for sale / redemption order of Mutual fund units, the client shall ensure that the required Mutual Fund units are transferred from the client's demat account to such account as may be prescribed by the Participant. The Client agrees and understands that the Participant shall check the availability of units prior to execution of sale/ redemption order and in case of non-availability of the same the Participant shall have a right to reject / refuse the order. The Participant shall not be held responsible for non execution of any order in case the units are not available in the account as prescribed by the Participant The Client agrees that the Participant may refuse to execute any buy / sell order or allow any trade or reject 59 any trade as per its Risk Management Policy or for any other reason as it may deem fit, from time to time, without any obligation of prior intimation to client and the client agrees to abide by the same In case of units wrongly / erroneously subscribed and delivered in my account, the Participant is authorised to automatically transfer the units in its pool / beneficiary or other account without client's consent The Client agrees and understands that the terms and conditions as mentioned in the Member - Client agreement and Annexure thereto, clauses pertaining to Internet Trading and DP - Client agreement entered into with the Participant in its capacity as Stock Broker and Depository Participant continues to remain applicable for transacting in Mutual Fund units The client agrees to receive all trade confirmations, statements including statement of account, etc in electronic form at the id provided by the client in the KYC form or as would be changed and intimated to the Participant from time to time The client agrees to indemnify and keep safe, harmless and indemnified the Participant and its officials from any damages, claims, demands, proceedings, loss, cost, charges, penalties and expenses whatsoever which a Participant may at anytime 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 mutual fund transaction facilities by the Client The Client and the Participant agrees to refer any claims and / or disputes to the Arbitration under the Indian Arbitration and Conciliation Act, The Participant may amend the terms and conditions with a notice to the Client Instructions issued by Authorised representatives, if any of the client shall be binding on the client in accordance with the letter authorizing the said representative to deal on behalf of the said client 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 4.20 The Client have read and understood the terms and conditions mentioned above and agree to abide by them and any amendments thereto made by the Participant from time to time The Client is aware that mere acceptance of the registration form does not imply in any way that the request has been accepted by the Participant for providing the mutual fund transaction facilities. Authorised signatory 48

65 To, India Infoline Limited IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane AUTHORIZATION LETTER Sub.: Mutual Fund Service System (MFSS) facility and BSE StAR MUTUAL FUND (hereinafter jointly referred to as "Mutual Fund Transaction Facilities") offered by NSE and BSE Sir, With reference to my application for registering as a client for Mutual Fund Transaction facilities offered by NSE and BSE, I/ we hereby undertake to provide funds to the Participant equivalent to the subscription amount and applicable brokerage/ fees/ charges before applying for mutual fund units through the Participant. For this purpose, I/ We hereby authorize India Infoline Limited to utilize the surplus funds in my / our Broking account held with India Infoline Limited in its capacity as a Stock Broker and transfer funds to the extent of subscription amount and / or applicable brokerage, fees, charges and other statutory levies (in case of both subscription and redemption) and/ or any other obligation to meet the debit in my/ our Mutual fund transaction account. In case of subscription request, I/ We hereby understand and agree that based on my instruction, the amount will be debited in my Mutual fund transaction account and surplus funds shall be transferred from my Broking account to my mutual fund transaction account as per this authority letter. I / We further agree and understand that such funds will be used by the Participant for applying for mutual fund units after deducting the applicable brokerage, fees, charges and other statutory levies. In case of a redemption request, I/ We agree and authorise India Infoline Limited to debit my mutual fund transaction account to the extent of applicable brokerage, fees, charges and other statutory levies and further authorize to utilize the surplus funds in my/ our Broking account held with India Infoline Limited in its capacity as a Stock Broker and transfer funds to the extent of applicable brokerage, fees, charges and other statutory levies (in case of both subscription and redemption) and / or any other obligation to meet the debit in my/ our Mutual fund transaction account. My/ our exposure limits in my trading account shall be reduced to the extent of the amount utilized for transacting in the mutual fund units as per my instruction. I/ we agree and undertake to make good such shortfall immediately as may be informed by India Infoline Limited from time to time. Name of the Client: Client Code (Login ID): Signature of the Client 49 60

66 SCHEDULE OF CHARGES Mutual Fund Services Schedule of Charges LOGIN ID - DP ID - Service Charges for Mutual Fund Transaction Depository Services Charges As applicable to the DP account of the client Notes: 1. Customers will get Digital confirmation notes on their ID mentioned in the account opening form. Physical print copy of digital confirmation note can be availed from the branches. Physical confirmation notes provided only on request, which would entail a nominal charge of Rs. 25/- for document handling. The same may be waived as per management s discretion. 2. In case any charges are waived by the Exchange / Depository, India Infoline Ltd may pass the benefit to the clients as per its sole discretion. 3. The above charges are exclusive of the service tax, securities transaction tax, regulatory charges & stamp duties. 4. Charges/ Service standards are subject to revision at the sole discretion of India Infoline Ltd and as informed by communication sent by ordinary post/ Value of transactions will be in accordance with NAV of the scheme as provided by respective AMCs. 6. Charges quoted above are for services listed. Any service not quoted above would be charged separately. 7. Customer is required to maintain a minimum balance of Rs 1000/- in his /her Ledger account. I/We have understood and accepted the schedule of charges as stated here in above. Authorised 50 Authorised Authorised Signatory Signatory Signatory 61

67 POLICIES AND PROCEDURES APPLICABLE TO CLIENTS OF INDIA INFOLINE LIMITED Certain applicable policies and procedures of IIFL significant to Trading Account of the client 1. REFUSAL OF ORDERS FOR PENNY STOCKS India Infoline Limited ("IIFL") normally offers trading facility to its clients in all the compulsorily dematerialised stocks which are listed on the Stock Exchanges. However IIFL discourages / restricts trading in penny stocks by the clients as they are susceptible to manipulation and risky for investors and in turn to IIFL. "Penny Stocks" for this purpose shall include: a. Stocks appearing in the list of illiquid securities issued by the Exchanges from time to time. b. Stocks which are highly illiquid and have a low market capitalization and 'Z' Group Securities. c. Any securities as may be restricted for trading by Exchanges. d. Any other securities as may be restricted for trading by IIFL based on its internal evaluation. As a part of Risk Management System, IIFL restricts clients to buy/ sell in penny stocks only on the basis of 100% upfront margin and on delivery basis. Also IIFL have/may have in place further restrictions in terms of quantity/ value in each/all penny stocks together as notified by its extant circulars. Further in case of Internet Trading clients, IIFL may at any time at its sole discretion block/ restrict the client's online trading terminal to prevent the client from placing orders in such penny stocks through the Online Trading Platform of IIFL. Further in case the client is able to place an order for penny stocks which are restricted by IIFL through Online Trading Platform or otherwise, IIFL may not accept such order. IIFL shall not be held liable for restricting / prohibiting trade in penny stocks at any time. Further IIFL shall not be held liable or responsible in any manner whatsoever for any refusal/cancellation of orders for trading in penny stocks/ other securities and the Client shall indemnify IIFL in respect of any loss caused to IIFL by virtue of the Client trading in penny stocks. 2. SETTING UP OF CLIENT'S EXPOSURE LIMITS As part of risk management, India Infoline Limited ("IIFL") shall set client's exposure limits depending on the type of securities provided as Margin / available funds in the client's ledger plus Fixed Deposits / Bank Guarantees provided by the client and the client profile/ financial status. Exposure limits are also set based on categories of stocks / position (derivatives) client can trade. Securities that are acceptable as margin and their categorization may be changed by IIFL from time to time at its sole discretion. Further client categorization may also be changed based on various factors including trading pattern of clients, profile / residential status / financial status of client. IIFL from time to time shall apply such haircuts as may be decided by IIFL on the approved securities against which the Exposure limits are given to the client. IIFL may from time to time change the applicable hair cut or apply a haircut higher than that specified by the Regulators/Exchanges as part of its Risk Management System. Subject to the client's exposure limits, client may trade in securities and / or take positions in the futures and options segment. Client shall abide by the exposure limits, if any, set by IIFL or by the Exchange or Clearing Corporation or SEBI from time to time. Limits/Exposure provided shall vary based on the intraday/ delivery / carry forward positions made by the client. The exposure limits set by IIFL does not by itself create any right for the Client and are liable to be withdrawn at any time without notice and the client shall bear the loss on account of withdrawal of such limits. The client agrees to compensate IIFL in the event of IIFL suffering any loss, harm or injury on account of exposure given and/or withdrawn. In case of sale of Securities, such sale may at the discretion of IIFL be provided only to the extent of the availability of securities in the account of the client (DP free Stock, DP lien/ hold marked securities, beneficiary and collateral stock). Further the credit received against sale may be used for exposure as may be decided by IIFL from time to time. 62

68 In case of derivatives, Clients shall be allowed to trade only upto the applicable clientwise position limits set by the Exchanges/Regulators from time to time. IIFL may from time to time demand additional margin from the client in the form of funds or securities if there is a requirement for the same and the client shall be required to provide the same. 3. APPLICABLE BROKERAGE RATES The Schedule of Brokerage and other charges leviable by IIFL on the clients are provide under the heading "Schedule of Brokerage and Other Charges" in this Form. Within the mentioned scale, the brokerage and other charges as agreed by the client is indicated and duly signed by the client in that section. If there is any upward revision of brokerage, the same will be informed to the client with 15 days prior notice. However all the brokerage and other charges are subject to the maximum limits as prescribed by SEBI / Exchanges/ Government and other Regulatory authorities from time to time. 4. IMPOSITION OF PENALTY OR DELAYED PAYMENT CHARGES The clients are required to settle the pay-in / provide margin within the time limits provided by Exchanges / SEBI/IIFL risk management system. In case the client fails to provide the same within the prescribed time, delayed payment charges shall be levied on the client's account on any delayed payments towards trading either in the cash or derivatives segments or on account of any other reason beyond the due date of payment as may be prescribed by IIFL. Such delayed payment charges shall be directly debited to the account of the Client at the end of every month. This is only a penal measure and brings in discipline in the clients to clear the dues in time as IIFL had to clear its obligations to the Exchange as per the time limits set by the Exchanges. IIFL reserves the right of imposition of delayed payment charges on the client account and the client shall be liable for payment of such charges at such rate as may be prescribed by IIFL from time to time. 5. RIGHT TO SELL CLIENTS SECURITIES OR CLOSE CLIENTS POSITIONS, WITHOUT GIVING NOTICE TO THE CLIENT ON ACCOUNT OF NON PAYMENT OF DUES. (LIMITED TO SETTLEMENT/MARGIN OBLIGATIONS) As a part of its Risk Management System, IIFL shall have the sole discretion to square off the open position of the Client and / or sell clients' securities (including securities maintained as margin with IIFL and securities lying in client's beneficiary / demat account) in case the client fails to meet its settlement / margin obligations in time. The specific securities to be sold and the positions to be squared off shall be decided solely by IIFL. Further, the square off of client's open position or the selling of securities may be executed on such Exchanges and at such price as may be decided by IIFL. IIFL shall have no obligation of communicating the same to the Client. IIFL shall not be responsible for any losses incurred by the client due to such squaring off of the open position of the client. IIFL reserves the right to square off client's open positions or sell clients' securities under following circumstances: a. where the limits given to the Client have been breached; b. where the Client has defaulted on their existing obligation and/ or have failed to make payments/deliver securities to IIFL within the stipulated time period as may be prescribed by IIFL. c. In addition to above, in case of equity and currency derivatives transactions, i. where the margin or security placed by the Client with IIFL falls short of the applicable minimum margin as may be required to be maintained by the client; ii. where Mark to Market Loss on the open position has reached the stipulated % of the margins placed with IIFL and the Client(s) have not taken any steps either to replenish the margin or reduce the Mark to Market Loss; iii. if the open position is neither squared off nor converted to Delivery by Client(s) within the stipulated time. IIFL reserves the right to square off the open position of client and / or sell client's securities under the prescribed circumstances, however IIFL is not obligated and does not guarantee to square off the open positions and / or sell client's securities. The client shall be solely responsible for the trading decisions taken by the client. It shall be the responsibility of the client to make payments towards outstanding obligations and /or applicable margins to IIFL in 63

69 time irrespective of whether IIFL exercises its right to square off the positions of the client in accordance with the provisions given herein above. Client shall be solely responsible for any resultant losses incurred to client due to selling of client's securities by IIFL or squaring off the client's open positions or for not doing so. All losses in this regard shall be borne by the CLIENT and IIFL shall be fully indemnified and held harmless by the CLIENT in this behalf. The CLIENT accepts to comply with IIFL's requirement of payment of Margin/settlement obligations of the Client, immediately failing which IIFL may sell, dispose, transfer or deal in any other manner the securities already placed with it as Margin/lying in the beneficiary account of IIFL or square-off all or some of the outstanding F&O positions of the CLIENT as it deems fit at its sole 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 IIFL shall be fully indemnified and held harmless by the CLIENT in this behalf at all times. 6. SHORTAGES IN OBLIGATIONS ARISING OUT OF INTERNAL NETTING OF TRADES In case the client defaults on its existing obligation and in the event the trade has been internally netted off by IIFL, there could be internal shortages. The internal shortages are marked against the client randomly at the sole discretion of IIFL taking into account the delivery obligations through Exchanges. In case of failure of delivery the client marked for internal netting of trade, the same shall be met through fresh market purchases and the loss on account of the said purchases will be charged to the defaulting client's account. However, defaulting client will not be eligible for any profit of account of this. IIFL shall not be responsible for losses to the Client on account of such shortages. All losses to the client on this account shall be borne solely by the client and the Client shall indemnify IIFL in this respect. 7. CONDITIONS UNDER WHICH CLIENT MAY NOT BE ALLOWED TO TAKE FURTHER POSITIONS OR BROKER MAY CLOSE EXISTING POSITIONS OF CLIENT In addition to the conditions as provided under the policy of right to sell securities and close out client's open position as detailed in point 4 above, IIFL shall have the right to refuse to execute trades/allow the client to take further positions and / or close out the existing positions of client under following circumstances: a. As a result of any Regulatory directive / restriction; b. Non-receipt of funds / securities and / or bouncing of cheque received from the client towards the obligations/ margin/ ledger balances; c. Due to technical reasons; d. securities breaching the limits specified by the Exchanges/regulators from time to time e. in case of failure to meet margin including mark to market margins by the client; f. In case securities to be transacted by client are not in dematerialized form g. Any other conditions as may be specified by IIFL from time to time in view of market conditions, regulatory requirements, internal policies etc and risk management system; h. Due to any force majeure event beyond the control of IIFL IIFL shall not be responsible for any loss incurred and the client shall indemnify IIFL in this regard. 8. TEMPORARILY SUSPENDING OR CLOSING OF CLIENT'S ACCOUNT AT THE CLIENT'S REQUEST IIFL may suspend or close the trading account of the client pursuant to SEBI or any other Regulatory directive for such period as may be prescribed by the respective Regulator. IIFL may further at its sole discretion and with/ without information to the CLIENT, prohibit or restrict or block the CLIENT's access to the use of the web site or related services and the CLIENT's ability to trade due to market conditions and other internal policies including policy with respect to prevention of money laundering. 64

70 Client can initiate temporary suspension / closure of its account at any time by giving a request to IIFL in writing 15 days in advance. However, such suspension / closure will be effected subject to clearance of all dues and settlement obligations by the client. Trades in the account of the client during the period of such temporary suspension shall not be permitted. Notwithstanding any such suspension / closure, all rights, liabilities and obligations of the parties arising out of or in respect of transactions entered into prior to such closure / suspension shall continue to subsist and binding on the client. In case the account has been temporarily suspended at the request of the client, the account shall be reactivated only on submission of a written request for reactivation by the client. 9. DEREGISTRATION OF A CLIENT Deregistration of the client /Termination shall be at the sole discretion of IIFL. IIFL may deregister the client if the client breaches the terms and conditions of the member-client agreement or provides any false information or declarations. Further IIFL may deregister the client if the client is suspected to be involved in any activities in violation of applicable Rules and Regulations. Further the client may be deregistered due to any Regulatory directive, market conditions and other internal policies of IIFL including policy with respect to prevention of money laundering. Such deregistration/ termination shall not effect the rights and liabilities of the parties in respect of the transactions executed before the date of such deregistration/termination. 10. TREATMENT OF INACTIVE ACCOUNTS In case the Trading and / or demat account of the client is not operated by the client for a continuous period of six months the same will be considered to be 'Inactive Account'. Such Inactive account will be blocked for further transactions by the client. The client will have to submit following documents / confirmation, for re-activation of such blocked account: 1. Call the Customer Care centre identifying himself (through validation questions) and requesting for activation of account for placing orders / transacting in the account; OR 2. Client can give the duly signed request in writing at any of the Branch offices of India Infoline Ltd.; OR 3. By placing request for re-activation of account through the Internet Trading portal. During the blocked period if there is any debit / dues to India Infoline Ltd in client's account, IIFL shall have the authority to liquidate the client's position to the required extent during the block period. During the block period if any corporate actions or pay-outs are due for return to the client, the same will be affected/ returned by IIFL to the client's account. I/We hereby agree that I/We have read and understood all the above policies and procedures of IIFL as applicable to my trading account. I/We understand that the above policies and procedures are subject to change / updation by IIFL from time to time. The updated policies and procedures of IIFL shall be posted on the website of IIFL I/We undertake to refer to the updated policies and procedures and abide by the same. 51 Signature of the Client: 65

71 SCHEDULE OF BROKERAGE AND OTHER CHARGES A/c opening charge Rs. 750* (A) Depository Charges Margin Money Rs. (B) DP Annual Maintenance - Rs. 25** per month + Payment (Cheque favouring Rs. (A + B) Charges Service Tax India Infoline Limited) Credit Charges - NIL *750/- to be reversed against brokerage within 90 days of account opening Debit Charges % (Minimum Rs 15 - Broking Services Maximum Rs 100) per debit BROKERAGE (CASH) BASE RATE Remarks transaction **These charges are billed every month and will be debited to the ledger. Intra-day 0.05% Delivery: (Normal) settlement 0.50% Trade for Trade and Z group 0.75% scrip BROKERAGE (FUTURES) 0.05% BROKERAGE (OPTIONS) Minimum Remark : VAS SMS Facility Rs 249 per month 1% of Premium or Rs. 100/- per lot whichever is higher MINIMUM PER SHARE Rs 0.05 BROKERAGE NOTES: 1. Customers will get Digital Contract Notes on their ID mentioned in the account opening form. Physical print copy of digital contract note can be availed from the branches. 2. In case of Customer opting for Physical Documents options for receiving Contract Notes and other related Documents, Document handling charge of Rs.25/- per dispatch will be levied. This charge may be partly/ fully waived off for high networth/large Customer at the discretion of IIFL. 3. Client will be charged Rs. 250/- for process of closure of trading accounts. 4. The above charges are exclusive of Service tax, Securities Transaction Tax, regulatory charges and stamp duty. The same shall be charged to the Client's account on actual basis. 5. Inter/ settlement/ Beneficiary to pool transfer would be Rs.15/- per scrip plus service tax. Other Charges Standard charges Special Annual Scheme Pledge creation Rs. 50 Rs. 50 Pledge closure DEMAT Per certificate Rs. 15 Rs. 15 Postal charges Rs. 40 Rs. 40 per request REMAT Per certificate Rs. 15 Rs. 15 Postal charges per request Rs. 40 Rs. 40 Rejection/Failure Rs. 50 Rs. 50 per entry 6. Charges/ service standards are subject to revision at sole discretion of India Infoline Ltd. and as informed by communication sent by ordinary post/ Value of the transaction will be in accordance with rates provided by Depository. 8. Transaction charges will be payable on a monthly basis. 9. Charges quoted above are for the services listed. Any service not quoted above will be charged separately. 10. Customer is required to maintain a minimum balance of Rs.1000/- in his/ her ledger account. 11. No refund of account opening charges would be given if the account could not be opened due to non submission of complete documents by the client or due to lack of desired co-operation from the client. 12. Management reserves the right to freeze, discontinue or suspend any account if required. I/ We have understood and accepted the Schedule of Charges as stated here in above. Authorised 52 Authorised Authorised Signatory Signatory Signatory Branch Manager Name: ACKNOWLEDGEMENT RECEIPT Branch Manager Signature: TEAR HERE We acknowledge the receipt of application for Trading and Demat Account opening form from Mr./Ms. (first applicant) and cheque Rs. (figures in words ), cheque no. drawn on bank Date : 66

72 OTHER INFORMATION ABOUT IIFL LIST OF DESIGNATED BANKS 1. HDFC BANK 2. ICICI BANK 3. AXIS BANK 4. CITIBANK N.A 5. BANK OF BARODA 6. YES BANK LIST OF DESIGNATED DEPOSITORY PARTICIPANTS 1. INDIA INFOLINE LTD. NOTE: IIFL reserves the right to make any modifications in the above lists. DISCLOSURE OF PROPRIETARY TRADING BY BROKER TO CLIENT: We refer to circular no. SEBI/MRD/SE/Cir.42/2003 dated 19/ 11/2003 issued by Securities and Exchange Board of India in connection with the above and in terms of the said circular we disclose that we have undertaken proprietary trading, arbitrage as well as investment business on our account in addition to Client based business. INITIAL MARGIN Initial Margin FUNDS: Bank Name: Cheque No.: Amount Rs.: FD Details: Securities: Expected value: Details: AUTHORISATION IIFL will also make available the copy of these documents on IIFL Internet Platform. I also hereby authorise India Infoline Limited to send the copy of executed document on my id furnished by me while opening of this account. CLIENT SIGNATURE FOR OFFICE USE ONLY Form No.: TEAR HERE 1. Complete Documentation Received Yes No 2. If No, give details 3. Verified with Original stamp affixed on proofs Yes No 4. PAN verified stamp with Employee name & signature affixed on proof Yes No 5. Margin Money collected Yes No 6. If yes, Amount in Rs. Amount in words 7. Unique Client Code Original documents verfied by: Authorised by: 8. Chq./ CMS No: 9. Chq./ CMS. Date: 10. Bank: ACKNOWLEDGEMENT RECEIPT FOR CLIENT India Infoline Limited DP Id: Received the application from Mr/Ms as the sole/first holder alongwith and as the second and third holders respectively for opening of a depository account. Your Client Id will be intimated to you shortly. Please quote the Login ID, DP Id & Client Id allotted to you in all your future correspondence. Nomination Details: Date : 67 Participant Stamp & Signature

73 (SPECIMEN COPY OF THE BOARD RESOLUTION) (To be provided by the Corporate clients on the letterhead) CERTIFIED TRUE COPY OF A RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF THE COMPANY AT THEIR MEETING HELD ON, 2 AT THE REGISTERED OFFICE OF THE COMPANY "RESOLVED THAT the Company be and is hereby authorised to open a Trading and Demat account with India Infoline Limited ("IIFL"), Member of Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) and Depository Participant of National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for purpose of trading in Securities at BSE & NSE and opening Demat account with the said member to trade in Capital/Cash, Derivatives/F&O, Debt & Currency Derivative segment and the said Member be and is hereby authorized to honor instructions oral or written, given on behalf of the Company by any of the following authorized signatories: Sr. No. Name Designation Specimen Signature RESOLVED FURTHER THAT the abovementioned officials are authorized to sell, purchase, transfer, endorse, negotiate and / or otherwise deal in securities and / or derivatives with / through India Infoline Limited on behalf of the Company. RESOLVED FURTHER THAT the abovementioned officials be and are hereby authorized to jointly / severally sign, execute and submit such applications undertaking, agreements DP instructions and other requisite documents, writings and deeds as may be deemed necessary or expedient to open and account and give effect to this resolution." RESOLVED FURTHER THAT all the abovementioned officials would have authority to act on behalf of the Company and their actions will be binding on the Company." RESOLVED FURTHER THAT the Common Seal of the Company be affixed, wherever necessary as per the applicable provisions of the Articles of Association of the Company, in the presence of any of the Directors of the Company who shall sign the same in token of their presence," For Managing Director/Company Secretary FORMAT 68

74 FORMAT FOR BANK VERIFICATION LETTER To, INDIA INFOLINE LTD. Mumbai. Dear Sir, Date: D D M M Y Y Y Y This is to certify that (name of the client) resident of (full address), is holding a savings/ current bank account no. with our branch since. The signature and photograph of the account holder as per the specimen recorded with us is being attested below. Authorised Signatory Signed in my presence and attested (Name of Branch Manager) Signature of Branch Manager (Sign under bank stamp) MICR code of Branch Put Bank stamp across photograph FORMAT 69

75 (FOR OFFICE USE ONLY) LETTER OF UNDERTAKING OF IIFL REPRESENTATIVE I (Emp. ID ) hereby undertake that the details of the client given in the form Login ID are complete in all respect. I hereby undertake that, I have checked the following details in the form and will be responsible for any incomplete/inappropriate details of client. Sr. PARTICULARS (STRIKE OUT WHICHEVER IS NOT APPLICABLE) TICK ( ) No. COMPLIED 1. Address proof, PAN Proof, Bank proof & ID Proof has been collected from the client as prescribed by CDSL/NSDL. (In case of NRI Clients - Foreign Address Proof is obtained). In case of HUF accounts, NOC is obtained duly filled and signed by all coparceners) 2. Personal Details of Client i.e Name, Address, PAN, , Mobile is correctly filled up and correct STATUS is ticked. Check the address by sending test Proofs as per KYC is taken and is matching with Personal Details as filled up in the form. 4. Account Details is completely filled up. 5. Signature of the client has been taken on all designated places in the form Witnesses of Clients & 2 Witness of IIFL are not same and their complete details is mentioned. 7. IIFL undersigned official (only with "C" Code) signature is required in Agreements, Proofs and wherever DP official Signature is required. 8. All supporting document has been verified with original and found valid in all respect. Relevant Rubber stamp is affixed on all proofs. In-person verification is done by IIFL employee only. 9. Bank Account Details is filled up the form with MICR code. In case of CDSL form MICR number does not starts with "Zero". 10. Organisation Details/ Joint Holder's Details is filled up in the form. 11. Guardian's Details (in case of Minor) is filled up in the form. 12. Nomination Details is filled up in the form. If there is no nomination, relevant option is selected. 13. Standing instructions is filled up in the form. 14. Initial Margin Details is filled up in the form. 15. Customer Profile & Risk Profile are mentioned and checked with relevant papers. 16. Declaration is filled up. Photographs is pasted (not stapled) and signature across the photograph is taken. 17. In Person Verification details are filled up in the form with signature and Rubber stamp of DP is affixed. 18. NSE, BSE, DP Agreements is filled up in the form. 19. Combined Risk Disclosure Document for Capital market/ cash segment & futures & options segment (BSE & NSE) is filled in the form. 20. Authorization letter for receiving Transaction statement through Internet is filled up in the form. 21. Power of attorney (POA) is filled up and in case of HUF all co-parcners signature is obtained 22. Running account letter is filled up in the form and signed by Client. 23. Instruction to send Password by SMS is filled up. 24. Receipt of documents in Digital Mode is filled up. 25. Schedule of Charges has been ticked. 26. Branch Manager/ Relationship Manager has signed the Schedule of Charges Section. 27. Complete Details of each Promoters, Directors, Key Personnel is obtained & filled up. 28. In case of Partnership Firm, Required Declaration has been obtained on Letter Head of firm. 29. In case of Sub-broker Client, Tripartite Agreement is attached. 30. Signature of the Client is taken on the Acknowledgement slip after giving Client Copy of AOF to the Customer. I have read and understood that if any of the requirements is not fulfilled then a penalty of Rs.500/- would be charged to me or any other action may be taken as deemed fit by the Management for non compliance from my end. Name SIGNATURE

76