Authorisation Letter to Bank for Account Opening

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Authorisation Letter to Bank for Account Opening Powered By Docstoc
					Application No. E                  Client Name:

CDSL Client Id 1 2 0 5 4 6 0 0                Branch Name:

NSDL Client Id I N 3 0 3 5 4 2                Client Code:




                                 SECURITIES LIMITED

                     ACCOUNT OPENING FORM
                               &
                    MEMBER CLIENT AGREEMENT
                      INSTRUCTIONS TO FILL THE ACCOUNT OPENING FORM

1. Form should be completed in all respects in own Handwriting by client only.
2. Please fill up the form preferably in Black Ink and in English only.
3. Please fill in all details in BLOCK LETTERS.
4. Please provide all the information asked in the form.
5. Paste your photograph(s) in the space provided and sign across it.
6. Please specify the complete postal address with city, state and pin code as it appears on the
   documents submitted. PIN Code is compulsory in the address.
7. Please sign at all locations marked by 'X'. Any correction/modification in the form should be
   countersigned with full signature of the client.
8. All documents submitted as proofs should be SELF ATTESTED by the client.
9. Please write your name as it appears in PAN card in Account Opening Form. In case of any mismatch,
   declaration required.
10. Signature can be in English, Hindi or any other language mentioned in the 8th Schedule of the
   Constitution of India. Thumb impressions and signatures other than the above mentioned languages
   must be attested by a Magistrate or a Notary Public or a Special Executive Magistrate under his/her
   official seal. Details of the Name, Address, Telephone Number(s), etc., of the Magistrate / Notary
   Public / Special Executive Magistrate / Special Executive Officer are to be provided in case of
   attestation done by them.
11. Please provide clear copies of the documents.
12. Please produce original documents for verification at the time of submission.
13. Name, address and signature of the witness are mandatory.
14. Name, address and signature of the Introducer is mandatory.
15. All correspondence shall be addressed to the Applicant only.
16. E Mail Id and landline number/ mobile number are mandatory.
17. Please strike off whichever part of the application is not applicable to you.




                                                                                                     1
                                     DOCUMENTATION REQUIREMENTS
    Proof of Identity (All category of Clients)
    PANCARD with signature
  Proof of Residence Address* (Any one of the following)
  Passport (expiry of validity period not more than 2 months)
  Driving License (expiry of validity period not more than 2 months)
  Ration Card
  Voter Id Card
  Electricity Bill (Bill date not more than two months old)
  Landline Telephone Bill (Bill date not more than two months old)
  Bank passbook/ Bank statement alongwith the a copy of the cheque leaf (with transactions not more
  than 2 months old with proper bank logo or to be certified by the bank)
  Agreement of sale
  Rent agreement/ Leave & licence agreement ( expiry of validity period not more than 2 months)
* Documents submitted as proof should contain details mentioned in Account opening form

    Proof of bank account (Any one of the following)
    Cancelled cheque leaf bearing pre-printed name of the client
    Bank passbook bearing name and address of client
    Bank statement bearing pre-printed name and address of the client (with transactions not more than 2
    months old )
    Proof of demat account (Any one of the following)
    Client master
    Latest transaction statement
    Latest holding statement
    Proof of financial details (Any one of the following)
    Copy of ITR acknowledgement
    Copy of Annual Accounts
    Copy of Form 16 in case of salary income ( for last financial year)
    Net worth certificate (latest /as at the end of last financial year)
    Salary Slip (not more than 2 months old)
    Bank account statement (for last 6 months)
    Copy of demat account Holding statement (not more than 3 months old)
    Any other relevant documents substantiating ownership of assets.
    Self declaration alongwith supporting documents
    Additional Documents
    For the Introducer
    Identity Proof - PANCARD
    Address Proof (any one of the following)
       Passport (expiry of validity period not more than 2 months)
       Voter Id Card
       Driving License (expiry of validity period not more than 2 months)
    For NRI clients only
    Proof of Indian and Foreign Address
    RBI approval for dealing in securities market ( PIS permission )
    Bank verification letter indicating type of account as NRE/NRO
    Copy of Passport / Visa
    For HUF
    All documents as per Common list for both HUF and it's Karta
    Undertaking letter signed by two Coparceners
    Recent Passport size Photo of Karta of HUF
    Rubber stamp of HUF required on every sign of Karta




2
 For PROPRIETORSHIP FIRM
 Recent Passport size Photo of Proprietor
 Rubber stamp of firm required on every sign of Proprietor
 Declaration on letterhead of the firm as per annexure
 Demat account will be in the name of proprietor only
 Certified copy of Balance sheet/Annual accounts for last two years
 Copy of latest Income tax return of Proprietor

 For PARTNERSHIP FIRM
 Recent Passport size Photo of Partners
 Rubber stamp of firm required on every sign of Partner
 Declaration on letterhead of the firm as per annexure
 Demat account will be in the name of partners only
 Certified copy of Balance sheet/Annual accounts for last two years
 Copy of Partnership Deed

 For CORPORATES
 Photocopy of PAN card of Company
 Copies of the balance sheet for the last 2 financial years (copies of annual balance sheet to be submitted
  every year)
 Copy of latest share holding pattern including list of all those holding more than 5% in the share capital of
  the company, duly certified by the company secretary/ Wholetime Director/MD (copy of updated
  shareholding pattern to be submitted every year)
 Copy of the Memorandum and Articles of Association
 Copy of the Resolution of board of directors' approving participation in equity /derivatives / debt trading
  and naming authorised persons for dealing in securities.
  Photographs of Whole time directors, individual promoters holding 5% or more, either directly or
  indirectly, in the shareholding of the company and of persons authorised to deal in securities.
 PAN card of Authorised Signatories

NOTE:
Copies of the above documents may be obtained after due verification with the originals thereof

Remittance of funds by the client:
      Third party cheques will not be accepted
      Outstation cheques will not be accepted
      Separate cheques to be issued for Account opening charges and for Margin




                                                                                                            3
                                                INDEX

A. MANDATORY DOCUMENTS
    Sr.                                                                                              Page
                       Documents                              Brief Significance
    No.                                                                                              Nos

    1     Client registration Form            Form contains complete details of the current          7-19
                                              status of the client, which includes his/her
                                              identity, address, financial status and also details
                                              of the Introducer of the client.


    2     Member Client Agreement – BSE       This agreement forms the basis for the                 20-23
                                              contractual relationship between the member
                                              and the client and sets out rights and obligations
                                              between the member and the client for trades
                                              executed on BSE.


    3     Member Client Agreement – NSE       This agreement forms the basis for the                 24-27
                                              contractual relationship between the member
                                              and the client and sets out rights and obligations
                                              between the member and the client for trades
                                              executed on NSE.


    4     Combined Risk Disclosure Document   Investment in equity shares, derivative or other       28-31
                                              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. The
                                              client should carefully consider whether such
                                              trading is suitable for him in the light of his
                                              financial condition.     In the light of the risk
                                              involved, the client should undertake
                                              transactions only if he understands the nature of
                                              the contractual relationship into which he is
                                              entering and the extent of his exposure of risk,
                                              which are disclosed in the document.


    5     Investor's rights and obligations   This document contains the details of the rights       32-33
                                              and obligations of the investor and the client
                                              should familiarize with the same.




4
                                  INDEX


Sr.                                                                                      Page
                  Documents                        Significance
No.                                                                                      Nos

6     Policies and procedures   Contains brief description of various Policies and       34-37
                                Procedures of the member with respect to the
                                following:
                                a. Refusal of orders for penny stocks
                                b. Setting up client's exposure limits
                                c. Applicable brokerage rate
                                d. Imposition of penalty / delayed payment
                                   charges by either party, specifying the rate and
                                   the period
                                e. Right to sell client's securities or close client's
                                   positions, without notice to the client, on
                                   account of non-payment of dues
                                f. Shortages in obligations arising out of internal
                                   netting of trades
                                g. Conditions under which client may not be
                                   allowed to take further position or the broker
                                   may close the existing position of a client
                                h. Temporarily suspending or closing a client's
                                   account at the client's request
                                i. Deregistering of a client
                                j. Inactive client account




                                                                                                 5
                                                    INDEX
B. NON-MANDATORY DOCUMENTS
    Sr.                                                                                                Page
                  Documents                                      Brief Significance
    No.                                                                                                Nos
    1     Additional clauses supplemental     These clauses do not form part of model Uniform          40-53
          to the Member Client Agreement      Documentary requirements provided in the SEBI
          of the Exchanges                    circular No. SEBI/MIRSD/DPS-1/CIR-31/2004 dated
                                              26th August, 2004. These clauses have been added in
                                              order to ensure smooth functioning of trading and
                                              settlement activities to enhance the transparency of
                                              Member – Client relation.

                                              The client is further informed that he may signify
                                              his consent by signing the related documents or
                                              strike out any of these clauses, if he does not wish
                                              to accept the same.
    2     Authorisation for placing orders    The client should place orders by himself /herself.      54-55
          on behalf of the client             However, in case the client wishes to authorize any
                                              other Person for placing orders on his/ her
                                              behalf, authorisation letter to be provided.
    3     Running account authorization       In the normal course, the settlement of                   56
                                              fund/securities is required to be done within one
                                              working day of the payout. However, the client may
                                              specifically authorize the Member to maintain
                                              running account subject to the conditions mentioned
                                              in this letter of authorization.
    4     Authorisation for electronic        Authorisation by the Client to the Member for             57
          contract notes                      issuance of electronic contract notes instead of
                                              physical contract notes
    5                                                                                                   58
          Declaration by a sole               Declaration for attaching the demat account opened
          proprietorship firm                 in the name of the Proprietor to the equity account
                                              opened in the name of Proprietary firm.
    6     Declaration by a partnership firm   Declaration for attaching the demat account opened        59
                                              in the name of the Partner(s) to the equity account
                                              opened in the name of Partnership firm.
    7     Draft Board Resolution in case of   Applicable for Corporate Clients only                     60
          Corporates / Trusts
    8     Confirmation to do trades as        Confirmation by the client that he will deal with the     61
          clients                             Member as a client and not in the capacity of the sub-
                                              broker and that he is not an employee of any other
                                              Member.
    9     Consent letter by client for        MFSS/BSE Star MF facility enables the client to           62
          availing MFSS/BSE Star MF           subscribe, switch or redeem mutual fund units
          facility                            through the trading terminals of NSE and BSE. Client
                                              accords his consent to avail of the said facility.

    10    Letter for sharing information      Authorization by the client to the Member for sharing     63
          with third parties                  client information
    11    Waiver of Disclaimer clause for     Consent from client for waiving disclaimer clause for    64-65
          technical calls                     all technical calls received by SMS or by email from
                                              the Member.

6
                                  INDIVIDUAL CLIENT REGISTRATION FORM

                 Registered Office : One Forbes, Dr.V. B. Gandhi Marg, Fort, Mumbai – 400 001.
                              Tel No.: (022)-6745 9000 Fax No.: (022)-6610 6723
                           Corporate Office : 3rd Floor, Akruti SMC, Khopat Junction,
                                  L B S Marg, Thane ( West ), Thane – 400 601
                                Tel No. :022-6794 0500 Fax No.: 022-6794 0999
                                    Website Address : www.tatasecurities.com
                           Investor Grievance E-mail Id : investcare@tatacapital.com
SEBI Registration Nos:
BSE Cash segment                     - INB010664150
BSE Derivative segment               - INF011207954     } Member Code : 604
                                                                                               Please paste your


                                                        }
NSE Cash segment                     - INB231288730                                            Latest Passport sized
NSE Derivative segment               - INF231288730       Member Code : 12887                      photo here
NSE Currency Derivatives segment - INE231288730                                                        and
Clearing Member for Currency Derivative segment – IL&FS Securities Services Limited               Sign across it.
IL&FS House, Plot No 14, Raheja Vihar, Chandivali, Andheri (East), Mumbai – 400 072.                     X
SEBI Regn No. INE231308334           Clearing Code : C50008
CDSL - IN-DP-CDSL-450-2008           NSDL – IN-DP-NSDL-298-2008
DP Id -12054600                      DP Id -IN303542
I request you to register myself as your client and enable me to trade in the Cash/F&O/Currency Derivatives
Segment of National Stock Exchange of India Ltd. and / or Bombay Stock Exchange Ltd. pursuant to the
Agreement entered into with you. I have read Rules, Bye-laws and Regulations of the Cash, F&O & Currency
Derivatives Segment of National Stock Exchange Ltd./Bombay Stock Exchange Ltd./("the Exchanges") and
various Policies and Procedures of Tata Securities Limited and agree to abide by them. In this regard, I give the
following information:
(This information is the sole property of the trading member / brokerage house and would not be disclosed
to anyone unless required by law or except with the express permission of clients.)


                                                      DETAILS
 Name

                      (Surname)                  (First Name)                (Middle Name)
 Father’s/
 Husband’s
 Name                 (Surname)                  (First Name)                (Middle Name)
 Date of Birth                                  Sex      Male                Marital        Married
                    D D M M       Y Y Y Y                Female              Status         Unmarried

 PAN Number                                                     IT ward / Circle

 Nationality         Indian   Other (Pls specify)______ Residential Status             RI      NRI      Other

                                               RESIDENCE ADDRESS
 Address


                                                                  City
District                                                          State
 Country                                                          Pin Code
Telephone Number                                                  Mobile
(with STD code)
Fax No.                                                           Email ID


                                                                                                                  7
                                        CORRESPONDENCE ADDRESS
Address


                                                                 City
District                                                         State
 Country                                                         Pin Code
Telephone Number                                                 Mobile
(with STD code)
Fax No.                                                          Email ID
                                               FOREIGN ADDRESS
Address


                                                                 City
District                                                         State
 Country                                                         Pin Code
Telephone Number                                                 Mobile
(with ISD code)
Fax No.                                                          Email ID
EDUCATIONAL QUALIFICATION           Graduate     Post Graduate    Professional   Others (Please specify)_____________

OCCUPATIONAL DETAILS              Employed           Self Employed        Business    Service       Professional
                                  House Wife         Others (Please specify)__________________________
    Name of Employer / (if Employed)
    Name of Establishment
    (if Self Employed / Business / Professional / Others)
Office Address


                                                                 City
District                                                         State
 Country                                                         Pin Code
Telephone Number                                                 Mobile
(with STD code)
Fax No.                                                          Email ID
                 BANK ACCOUNT DETAILS (through which transactions will generally be routed)
Account Type           Savings    Current      NRI      Others
Account No.
Bank Name                                                        Branch Name
Branch Address


                                                                 City
District                                                         State
 Country                                                         Pin Code
Telephone Number
(with STD code)
Fax No.
    9 Digit MICR Code No.
8
 DEMAT ACCOUNT DETAILS (through which transactions will generally be routed)
 1 Name of Depository             CDSL      NSDL
    DP ID                                           Beneficiary ID
   Beneficiary Name
   Name of Depository Participant
   Address


 2 Name of Depository             CDSL      NSDL
   DP ID                                            Beneficiary ID
   Beneficiary Name
   Name of Depository Participant
   Address



                                             FINANCIAL DETAILS
 Market Value of Portfolio            Less than Rs. 5 Lacs      Rs 5 -10 Lacs
 (Tick whichever is applicable)       Rs 10 - 50 Lacs           > Rs 50 Lacs

 Income Range (Per Annum)             Less than Rs. 1 Lac        Rs. 1 - 5 Lacs
 (Tick whichever is applicable)       Rs. 5 -10 Lacs             Rs. 10 - 25 Lacs         > Rs. 25 Lacs

Details of any action taken by SEBI/Stock Exchange / any other regulatory authority for violation of any
securities law or other economic offences AGAINST INDIVIDUAL;

 Sr.     Authority who has taken          Reference No         Period           Particulars      Remarks
 No.     action (Specify SEBI,NSE,       and date of the                         of action
          BSE, CDSL, NSDL, RBI)               order                               taken




                                     INVESTMENT/TRADING EXPERIENCE
       ________Years in Stocks                                   ________Years in Derivatives
       ________Years in Other investment related fields          No Prior Experience




                                                                                                           9
                                          TRADING PREFERENCE
 Stock Exchanges on which you wish to trade (Please tick in the relevant boxes)

        BSE                                               NSE
 (Please sign…………..................……..)           (Please sign…………..................……..)


                                          TRADING PREFERENCE
Market segments you wish to trade (Please tick in the relevant boxes)

       NSE CM                                              NSE FNO
(Please sign………………........................)        (Please sign………………........................)

       NSE WDM                                             NSE Currency Derivative
(Please sign………………........................)        (Please sign………………........................)

       NSE MFSS                                            BSE CM
(Please sign………………........................)        (Please sign………………........................)

       BSE FNO                                             BSE STaR MF
(Please sign………………........................)        (Please sign………………........................)

                               OTHER BROKER'S / SUB-BROKER’S DETAILS
 Whether registered with any other Broker/ Sub-broker:   Yes    No
 If Yes, Name of the Broker
 Name of Exchange                    NSE      BSE
 Client Code
 Name of the Sub-Broker
 Broker's / Sub-Broker's Address
 Broker's / Sub-Broker's Phone No.

                                              NRI DETAILS
Tick whichever is applicable       NRO     NRE     Other (Please Specify) _________________________
                                   NRI REPATRIABLE / NRI NON-REPATRIABLE
RBI Approval Reference No.                                               RBI Approval Date
Bank Name

                                        IDENTITY PROOF DETAILS
     Particulars            Number            Date of Issue       Place of Issue        Date of Expiry
 PAN card
 Passport
 Driving License
 Ration Card
 Voter ID Card




10
                               DETAILS OF REFERENCES / INTRODUCER
(Introduced by another constituent / director / or employee of trading member / sub-broker /
Authorised Person/ Remisier / any other person)

 Name of the
 Introducer
                       (Surname)              (First Name)               (Middle Name)
 Father’s/
 Husband’s
 Name                  (Surname)                 (First Name)           (Middle Name)
 Relationship          Client of TSL, Client Code ________________________________________
 with Applicant        Employee of TSL, Employee Id ___________         Any other person (specify)_______
PAN of introducer
 Address



City                                                         Pin Code
 State                                                       Country
Telephone Number                                              Mobile
(with STD code)
Fax No.                                                      Email ID
Introducer Code (if any)_______________________
Place of Issue ______________________                    Date of Issue_____________________




Signature of Introducer
Interviewer's Detail

Name of Employee

Designation of Employee

Signature of the Employee

                                               DECLARATION
I hereby declare that the details furnished above are true and correct to the best of my knowledge and belief
and I undertake to inform you of any changes therein immediately. In case any of the above information is
found to be false or untrue or misleading or misrepresenting I am aware that I may be held liable for it.
                                                                  X
 Place:                                              Signature:


 Date:                                               Name:




                                                                                                          11
                          Identity of the client is verified 'In-Person'

 Identity of the client is established by verifying the photograph affixed in the account opening form
 as well as proof of identity document with the person concerned.



 Signature of the client in presence of Branch Official




 X
 Signature of the client
 In-person verification done:

 Employee Id.: ______________________________________________________________________

 Name of TSL Official : _______________________________________________________________

 Designation:________________________________________________________________________

 Branch Name :______________________________________________________________________

 Place where in-person verification was carried out _____________________________________

 Date of verification _________________________________________________________________


 Signature of the branch official _______________________________________________________




 Branch round seal __________________________________________________________________




12
                                   CLIENT REGISTRATION FORM FOR
                                   CORPORATES, FIRMS AND OTHERS

               Registered Office : One Forbes, Dr.V. B. Gandhi Marg, Fort, Mumbai – 400 001.
                            Tel No.: (022)-6745 9000 Fax No.: (022)-6610 6723
                         Corporate Office : 3rd Floor, Akruti SMC, Khopat Junction,
                                L B S Marg, Thane ( West ), Thane – 400 601
                              Tel No. :022-6794 0500 Fax No.: 022-6794 0999
                                  Website Address : www.tatasecurities.com
                         Investor Grievance E-mail Id : investcare@tatacapital.com
SEBI Registration Nos:
BSE Cash segment                    - INB010664150
BSE Derivative segment              - INF011207954 }     Member Code : 604


                                                   }
NSE Cash segment                    - INB231288730
NSE Derivative segment              - INF231288730       Member Code : 12887
NSE Currency Derivatives segment - INE231288730
Clearing Member for Currency Derivative segment – IL&FS Securities Services Limited
IL&FS House, Plot No 14, Raheja Vihar, Chandivali, Andheri (East), Mumbai – 400 072.
SEBI Regn No. INE231308334          Clearing Code : C50008
CDSL - IN-DP-CDSL-450-2008          NSDL – IN-DP-NSDL-298-2008
DP Id -12054600                     DP Id -IN303542
We request you to register ourself as your client and enable us to trade in the Cash/F&O/Currency
Derivatives Segment of National Stock Exchange of India Ltd./ Bombay Stock Exchange Ltd. pursuant to the
Agreement entered into with you. I have read Rules, Bye-laws and Regulations of the Cash, F&O & Currency
Derivatives Segment of National Stock Exchange Ltd./Bombay Stock Exchange Ltd./("the Exchanges") and
various Policies and Procedures of Tata Securities Limited and agree to abide by them. In this regard, We
give the following information:
(This information is the sole property of the trading member / brokerage house and would not be disclosed
to anyone unless required by law or except with the express permission of clients.)

                                TYPE OF ACCOUNT (Tick applicable category)
     Partnership        Trust              MF        Society        FII    HUF       Corporate
     FI                 NBFC               Others (Please specify)_____________________

                                                 DETAILS
Name of Company/Firm
Date of Incorporation/Formation
Date of Commencement of Business
ROC Registration No. and Place of Registration
PAN Number
Nature of Business
Registered Office Address


                                                            City
District                                                    State
 Country                                                    Pin Code
Phone Number
(with STD code)
Fax No.                                                     Email ID
                                                                                                        13
 Address for Correspondence


                                                                City
District                                                        State
 Country                                                        Pin Code
Phone Number
(with STD code)
Fax No.                                                         Email ID
                        BANK ACCOUNT DETAILS (through which transactions would be routed.)
 Account Type        Current        Others
 Account No.
 Bank Name                                                     Branch Name
 Branch Address


                                                                City
District                                                        State
Country                                                         Pin Code
 9 Digit MICR Code No.

 DEMAT ACCOUNT DETAILS (through which transactions will generally be routed)
 1 Name of Depository             CDSL       NSDL
     DP ID                                           Beneficiary ID
     Beneficiary Name
     Name of Depository Participant
     Address


 2 Name of Depository             CDSL       NSDL
     DP ID                                           Beneficiary ID
     Beneficiary Name
     Name of Depository Participant
     Address



                                             FINANCIAL DETAILS
Market Value of Portfolio             Less than Rs. 5 Lacs         Rs 5 -10 Lacs
(Tick whichever is applicable)        Rs 10 - 50 Lacs              > Rs 50 Lacs

Income Range (Per Annum)              Less than Rs. 1 Lac          Rs. 1 - 5 Lacs
(Tick whichever is applicable)        Rs. 5 -10 Lacs               Rs. 10 - 25 Lacs          > Rs. 25 Lacs




14
Details if any, of any action taken by SEBI/Stock Exchange / any other regulatory authority (for
violation of any securities law or other economic offences) against the constituent or its partners /
promoters / whole directors / authorised persons / in charge of dealing in securities.
 Sr.     Authority who has taken         Reference No         Period           Particulars        Remarks
 No.     action (Specify SEBI,NSE,      and date of the                         of action
          BSE, CDSL, NSDL, RBI)              order                               taken




                               OTHER BROKER'S / SUB-BROKER’S DETAILS
 Whether registered with any other Broker/ Sub-broker:   Yes    No
 If Yes, Name of the Broker
 Name of Exchange                    NSE      BSE
 Client Code
 Name of the Sub-Broker
 Broker's / Sub-Broker's Address
 Broker's / Sub-Broker's Phone No.

                                     INVESTMENT/TRADING EXPERIENCE
       __________Years in Stocks                                __________Years in Derivatives
       __________Years in Other investment related fields       No Prior Experience

                                          TRADING PREFERENCE
 Stock Exchanges on which you wish to trade (Please tick in the relevant boxes)

        BSE                                                 NSE
 (Please sign………………......................)           (Please sign………………......................)

Market segments you wish to trade (Please tick in the relevant boxes)

       NSE CM                                                NSE F&O
(Please sign………………......................)             (Please sign………………......................)

       NSE WDM                                               NSE Currency Derivative
(Please sign………………......................)             (Please sign………………......................)

       NSE MFSS                                              BSE Cash
(Please sign………………......................)             (Please sign………………......................)

       BSE Derivative                                        BSE STaR MF
(Please sign………………......................)             (Please sign………………......................)

                                DETAILS OF REFERENCES / INTRODUCER
(Introduced by another constituent / director or employee of trading member/sub-broker/
Authorised Person/ Remisier/any other person)

Name of the
Introducer
                    (Surname)                 (First Name)              (Middle Name)
Father’s/
Husband’s
Name                (Surname)                 (First Name)           (Middle Name)
Relationship        Client of TSL, Client Code ________________________________________
with Applicant      Employee of TSL, Employee Id ___________           Any other person (specify)_______

                                                                                                            15
Address



City                                                       Pin Code
 State                                                     Country
Telephone Number                                            Mobile
(with STD code)
Fax No.                                                    Email ID
PAN of introducer
Introducer Code (if any)_______________________
Place of Issue ______________________                 Date of Issue_____________________


Signature of Introducer
Interviewer's Detail
Name of Employee
Designation of Employee
Signature of the Employee

      DETAILS ABOUT PROMOTER/PARTNERS / KARTA / DIRECTORS AND AUTHORISED SIGNATORIES
         Name of Promoter / Partners / Karta            Residential Address
 1.
 2.
 3.
 4.
 5.
             Name of Wholetime Director                           Residential Address
 1.
 2.
 3.
 4.
 5.
         Name and Designation of Signatories                      Residential Address
 1.
 2.
 3.
 4.
 5.
      Paste recent photographs of promoters/partners/karta including individual promoters holding 5%
       or more in the share holding of the company – signature required across all such photographs




16
     Paste recent photographs of wholetime directors – signature required across all such photographs




    Paste recent photographs of Authorised Signatories – signature required across all such photographs




                             UNDERTAKING TO MEET ANNUAL REQUIREMENTS
 We hereby declare that we will submit a certified copy of Annual Balance Sheet every year before
 31st October.
 We further undertake to submit the updated share holding pattern every year before 31st October.
                                              DECLARATION

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


X
Authorised Signatory (with company seal)


Name:__________________________________

Place:__________________________________

Date:__________________________________




                                                                                                        17
      Identity of the Director/Authorised Signatories are verified 'In-Person'

Identity of the Director/Authorised signatory is established by verifying the
photograph(s) affixed in the account opening form as well as proof of identity
document(s) with the person concerned.

Signature of the Director/Authorised Signatories in presence of Branch Official
X
Signature of the Director/ Authorised Signatory

X
Signature of the Director/ Authorised Signatory

X
Signature of the Director/ Authorised Signatory


In-person verification done :
Employee Id.: ____________________________________________
Name of Branch Official : __________________________________
Designation: _____________________________________________
Branch Name : ____________________________________________
Place where in-person verification was carried out____________
Date of verification ________________________________________
Signature of the branch official _____________________________


Branch round seal ________________________________________




18
                                        BROKERAGE SLABS
       CASH SEGMENT
                                             Slab %                            Minimum
    Brokerage Slab
                                 First Leg        Second Leg           First Leg       Second Leg

    Delivery based


    Daily Square up


       DERIVATIVE SEGMENT (FUTURES)
                                             Future %                          Minimum
    Brokerage Slab
                                 First Leg        Second Leg           First Leg       Second Leg

    Daily Square up


    Settlement Square up


    Expiry


       DERIVATIVE SEGMENT (OPTIONS)
                                             Future %                          Minimum
    Brokerage Slab
                                 First Leg        Second Leg           First Leg       Second Leg

    Daily Square up


    Settlement Square up


    Expiry


 Service Tax                      Y             N
                                                               Note: A minimum brokerage of
 Stamp and other charges -        Y             N                   Rs. 6/- per order or 2.5% of
                                                                    the value (whichever is lower)
 Transaction & other charges -    Y             N                   will be charged.




                     X
Signature of Client ______________

Date :___________________________




                                                                                                     19
                                     MEMBER CLIENT AGREEMENT - BSE
  THIS   AGREEMENT          is made and          executed      at ____________________ this    ______day of
X __________ 20       _____ between Tata Securities Limited, a body corporate, registered/incorporated
  under the provisions of the Companies Act, 1956, being a member of the Bombay Stock Exchange
  Limited (hereinafter called the "Exchange") and having its Registered Office at One Forbes, Dr V B Gandhi
  Marg, Fort, Mumbai 400 001 (hereinafter called “the Stock broker or Trading Member or Member or TSL")
  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. _________________________________________________________________________________
X an individual/a sole proprietary 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/
X registered office at______________________________________________________________________________
  ______________________________________________________________________________________________
X _________________________________________(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 TSL is registered as the stock WHEREAS the Member has taken steps and shall
               broker of the Exchange with SEBI take steps to make the Client aware of the precise
               registration number INB010664150 in nature of the Member's liability for business to be
               the Capital Market Segment and SEBI conducted, including any limitations, the liability
               Registration No. INF011207954 in the and the capacity in which the Member acts
               Futures and Options Segment.
                                                         WHEREAS the Member and the Client agree to be
               WHEREAS the Client is desirous of bound by all the Rules, Bye-laws and Regulations
               investing/ trading in those securities/ of the Exchange and circulars issued thereunder and
               contracts/other instruments admitted Rules and Regulations of SEBI and relevant
               to dealings on the Exchange as defined notifications of Government authorities as may be in
               in the Rules, Bye-laws and Regulations force from time to time.
               of the Exchange and circulars issued
               thereunder from time to time.             Now, therefore, in consideration of the mutual
                                                          understanding as set forth in this agreement, the
              WHEREAS the Client has satisfied itself
                                                          parties thereto have agreed to the following terms
              of the capacity of the Member to deal in
              securities and/or deal in derivatives       and conditions:
              contracts and wishes to execute its
              orders through the Member and the 1. The Client agrees to immediately notify the
              Client shall from time to time continue       Member in writing if there is any change in the
              to satisfy itself of such capability of the   information in the 'Client registration form'
              Member before executing orders                provided by the Client to the Member at the
              through the Member.                           time of opening of the account or at any time
                                                            thereafter.
              WHEREAS the Member has satisfied and
              shall continuously satisfy itself about 2. The Member declares that it has brought the
              the genuineness and financial                 contents of the risk disclosure document to the
              soundness of the Client and investment
                                                            notice of Client and made him aware of the
              objectives relevant to the services to be
              provided; and                                 significance of the said document. The Client
                                                            agrees that :

  20
                                                       X
   a. He has read and understood the risks involved       6.   The Member agrees that the money/securities
      in trading on a stock exchange.                          deposited by the Client shall be kept in a
   b. He shall be wholly responsible for all his               separate account, distinct from his/its own
      investment decisions and trades.                         account or account of any other Client and
   c. The failure of the Client to understand the risk         shall not be used by the Member for
      involved shall not render a contract as void or          himself/itself or for any other Client or for any
      voidable and the Client shall be and shall               purpose other than the purposes mentioned in
      continue to be responsible for all the risks and
                                                               SEBI Rules and Regulations circulars/ guidelines
      consequences for entering into trades in the
      segments in which the Client chose to trade.             /Exchanges Rules/ Regulations/ Bye-laws and
   d. He is liable to pay applicable initial margins,          circulars.
      withholding margins, special margins or such
      other margins as are considered necessary by        7.   The Client agrees to immediately furnish
      the Member or the Exchange or as may be                  information to the Member in writing, if any
      directed by SEBI from time to time as                    winding up petition or insolvency petition has
      applicable to the segment(s) in which the                been filed or any winding up or insolvency
      Client trades. The Member is permitted in its            order or decree or award is passed against him
      sole and absolute discretion to           collect        or if any litigation which may have material
      additional margins (even though not required             bearing on his capacity has been filed against
      by the Exchange, Clearing House/Clearing                 him.
      Corporation or SEBI) and the Client shall be
      obliged to pay such margins within the              8.   The Member agrees to inform the Client and
      stipulated time.
                                                               keep him              apprised           about
   e. Payment of margins by the Client does not
                                                               trading/settlement     cycles, delivery/payment
      necessarily imply complete satisfaction of all
      dues. In spite of consistently having paid               schedules, any changes therein from time to
      margins, the Client may, on the closing of its           time, and it shall be the responsibility in turn
      trade, be obliged to pay (or entitled to receive)        of the Client to comply with such schedules/
      such further sums as the contract may dictate/           procedures of the relevant stock exchange.
      require.
                                                          9.   In the event of death or insolvency of the Client
3. The Client agrees to pay to the Member                      or his/its otherwise becoming incapable of
   brokerage and statutory levies as are prevailing            receiving and paying for or delivering or
   from time to time and as they apply to the Client's         transferring securities which the Client has
   account, transactions and to the services that              ordered to be bought or sold, the Member may
   Member renders to the Client. The Member                    close out the transaction of the Client and claim
   agrees that it shall not charge brokerage more              losses, if any, against the estate of the Client.
   than the maximum brokerage permissible as per               The Client or his successors, heirs and assigns
   the rules, regulations and bye-laws of the relevant
                                                               shall be entitled to any surplus which may result
   stock exchange/SEBI.
                                                               therefrom.
4. The Client agrees to abide by the exposure limits,
   if any, set by the Member or by the Exchange or        10. The Member agrees that it shall co-operate in
   Clearing Corporation or SEBI from time to time.            redressing grievances of the Client in respect of
                                                              transactions routed through it and in removing
5. Without prejudice to the Member's other rights             objections for bad         delivery of shares,
   (including the right to refer a matter to                  rectification of bad delivery, etc. in respect of
   arbitration), the Member shall be entitled to              shares and securities delivered/to be delivered
   liquidate/close out all or any of the Client's             or received/to be received by the Client.
   positions for non-payment of margins or other
   amounts, outstanding debts, etc. and adjust the        11. The Member shall continue to be responsible
   proceeds of such liquidation / close out, if any,          for replacing bad deliveries of the Client in
   against the Client's liabilities/ obligations. Any         accordance with applicable “Good & bad
   and all losses and financial charges on                    delivery norms” even after termination of the
   account of such liquidation/closing-out shall be           agreement and shall be entitled to recover any
   charged to and borne by the Client.
                                                              loss incurred by him in such connection from the
                                                              Client.
                                                                                                              21
                                                          X
12. The Member shall ensure due protection to the            20. Where the Exchange cancels trade(s) suo moto
    Client regarding Client's rights to dividends,               all such trades including the trade/s done on
    rights or bonus shares, etc. in respect of                   behalf of the Client shall ipso facto stand
    transactions routed through it and it shall not do           cancelled.
    anything which is likely to harm the interest of
    the Client with whom and for whom it may have            21. This agreement shall forthwith terminate; if the
    had transactions in securities.
                                                                 Member for any reason ceases to be a Member
13. The Client and the Member agree to refer any                 of the Stock Exchange including cessation of
    claims and/or disputes to arbitration as per the             membership by reason of the Member's default,
    Rules, Bye-laws and Regulations of the Exchange              death, resignation or expulsion or if the
    and circulars issued thereunder as may be in                 certificate issued by the Board is cancelled.
    force from time to time.
                                                             22. The Member and the Client shall be entitled
14. The Member hereby agrees that he shall ensure                to terminate this agreement without giving any
    faster settlement of any arbitration proceedings             reasons to the other party, after giving notice
    arising out of the transactions entered into                 in writing of not less than one month to the
    between him and the Client and that he shall be              other parties. Notwithstanding any such
    liable to implement the arbitration awards made
                                                                 termination, all rights, liabilities and obligations
    in such proceedings.
                                                                 of the parties arising out of or in respect of
15. Information about default in payment/delivery                transactions entered into prior to the
    and related aspects by a Client shall be brought             termination of this agreement shall continue to
    to the notice of the relevant Stock Exchange(s).             subsist and vest in /be binding on the respective
    In case where defaulting client is a corporate               parties or his / its respective heirs, executors,
    entity /partnership /proprietary firm or any                 administrators, legal representatives or
    other artificial legal entity, then the name(s) of           successors, as the case may be.
    director(s)/ promoter(s)/ partner(s)/proprietor as
    the case may be, shall also be communicated to           23. In addition to the specific rights set out in this
    the relevant stock exchange(s).                               Agreement, the Member and the Client shall
                                                                  be entitled to exercise any other rights which
16. The Member and the Client agree to reconcile
                                                                  the Member or the Client may have under the
    their accounts at the end of each quarter with
    reference to all the settlements where payouts                Rules, Bye-laws and Regulations of the
    have been declared during the quarter.                        Exchange and circulars issued thereunder or
                                                                  Rules and Regulations of SEBI.
17. The Member and the Client agree to abide by any
    award passed by the Ombudsman under the                  24. Words and expressions which are used in this
    SEBI (Ombudsman) Regulations, 2003.                          Agreement, but which are not defined herein
                                                                 shall, unless the context otherwise requires,
18. The Member and the Client declare and agree                  have the same meaning as assigned thereto in
    that the transactions executed on the Exchange               the Rules, Bye-laws and Regulations of the
    are subject to Rules, Bye-laws and Regulations               Exchange and circulars issued thereunder.
    and circulars issued thereunder of the Exchange
    and all parties to such trade shall have
                                                             25. The provisions of this agreement shall always be
    submitted to the jurisdiction of such court as
    may be specified by the Bye-laws and                         subject to Government notifications, any rules,
    Regulations of the Exchange for the purpose                  regulations, guidelines and circulars issued by
    of giving effect to the provisions of the Rules,             SEBI and Rules, Regulations and Bye-laws of
    Bye-laws and Regulations of the Exchange and                 the relevant stock exchange that may be in force
    the circulars issued thereunder                              from time to time.

19. The instructions issued by an authorised                 26. The Member hereby undertakes to maintain the
    representative, if any, of the Client shall be               details of the Client as mentioned in the Client
    binding on the Client in accordance with the                 registration form or any other information
    letter authorizing the said representative to deal           pertaining to the Client in confidence and that
    on behalf of the said Client.

22
                                                         X
   it shall not disclose the same to any person/       IN WITNESS THEREOF, the parties to the
   authority except as required under any              Agreement have caused these presents to be
                                                       executed as of the day and year first above
   law/regulatory requirements: Provided
                                                       written.
   however, that the    Member may so disclose
   information about his Client to any person or       The Client’s Signature / Authorised Signatory:
   authority with the express permission of the                    X
                                                       Signed by : ___________________________________
   Client.
                                                       Title     :___________________________________

   This agreement can be altered, amended and/or       Name of the Client: _________________________
   modified by the parties mutually in writing
                                                       Witness Signature: 1) _________________________
   without derogating from the contents of this
   Agreement : Provided however, if the rights and
                                                                            2) _________________________
   obligations of the parties hereto are altered by
   virtue of change in Rules and Regulations of SEBI
                                                       The Member’s Signature/
   or Bye-laws, Rules and Regulations of the
                                                       Authorised Signatory: __________________________
   relevant Stock Exchange, such changes shall be
   deemed to have been incoporated herein in           Signed by : ___________________________________
   modification of the rights and obligations of
                                                       Title      :___________________________________
   the parties mentioned in this agreement.
                                                                              TATA SECURITIES LTD.
                                                       Name of the Member : __________________________

                                                       Witness Signature: 1) _________________________


                                                                            2) _________________________

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.




                                                                                                        23
                                     MEMBER CLIENT AGREEMENT - NSE
  THIS AGREEMENT           is made and           executed      at ____________________ this      ______day of
X __________ 20 _____ between Tata Securities Limited, a body corporate, registered/incorporated
  under the provisions of the Companies Act, 1956, being a member of the National Stock Exchange of
  India Limited (hereinafter called the "Exchange") and having its Registered Office at One Forbes, Dr V B
  Gandhi Marg, Fort, Mumbai 400 001 (hereinafter called “the Stock broker or Trading Member or Member
  or TSL") 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. _________________________________________________________________________________
X an    individual/a sole proprietary 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
X residence/registered office at_____________________________________________________________________
X ______________________________________________________________________________________________
  _______________________________________________( 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 TSL is registered as a stock      about the genuineness and financial soundness
                 broker of the Exchange with SEBI          of the Client and investment objectives relevant to
                 registration number INB231288730 in       the services to be provided; and
                 the Capital Market Segment, SEBI
                 Registration No. INF231288730 in the      WHEREAS the Member has taken steps and shall
                 Futures and     Options Segment and       take steps to make the Client aware of the precise
                 INE231288730 in the        Currency       nature of the Member's liability for business to be
                                                           conducted, including any limitations, the liability
                 Derivatives Segment.
                                                           and the capacity in which the Member acts.
                 WHEREAS the Client is desirous of         WHEREAS the Member and the Client agree to be
                 investing/trading in those securities/    bound by all the Rules, Bye-laws and Regulations of
                 contracts/other instruments admitted      the Exchange and circulars issued thereunder and
                 to dealings on the Exchange as defined    Rules and Regulations of SEBI and relevant
                 in the Rules, Bye-laws and Regulations    notifications of Government authorities as may be in
                 of the Exchange and circulars issued      force from time to time.
                 thereunder from time to time.
                                                             Now, therefore, in consideration of the mutual
                 WHEREAS the Client has satisfied itself     understanding as set forth in this agreement, the
                 of the capacity of the Member to deal in parties thereto have agreed to the following terms
                 securities and/or deal in derivatives and conditions:
                 contracts and wishes to execute its
                                                             1. The Client agrees to immediately notify the
                 orders through the Member and the
                                                                Member in writing if there is any change in the
                 Client shall from time to time continue        information in the 'Client registration form'
                 to satisfy itself of such capability of the    provided by the Client to the Member at the
                 Member before executing orders                 time of opening of the account or at any time
                 through the Member.                            thereafter.

                 WHEREAS the Member has satisfied 2            The Member declares that it has brought the
                 and shall continuously satisfy itself         contents of the risk disclosure document to the
                                                               notice

  24                                                   X
     of Client and made him aware of the significance        liquidate/close out all or any of the Client's
     of the said document. The Client agrees that :         positions for non-payment of margins or other
                                                            amounts, outstanding debts, etc. and adjust the
     a. He has read and understood the risks involved
                                                            proceeds of such liquidation / close out, if any,
        in trading on a stock exchange.
                                                            against the Client's liabilities/ obligations. Any
     b. He shall be wholly responsible for all his          and all losses and financial charges on account
        investment decisions and trades.                    of such liquidation/closing-out shall be charged
                                                            to and borne by the Client.
     c The failure of the Client to understand the
       risk involved shall not render a contract as 6       The Member agrees that the money/securities
       void or voidable and the Client shall be and         deposited by the Client shall be kept in a
       shall continue to be responsible for all the         separate account, distinct from his/its own
       risks and consequences for entering into             account or account of any other Client and
       trades in the segments in which the Client           shall not be used by the Member for
       chose to trade.                                      himself/itself or for any other Client or for any
     d. He is liable to pay applicable initial margins,     purpose other than the purposes mentioned in
        withholding margins, special margins or such        SEBI Rules and Regulations circulars/ guidelines/
        other margins as are considered necessary by        Exchanges Rules / Regulations / Bye-laws and
        the Member or the Exchange or as may be             circulars.
        directed by SEBI from time to time as
                                                        7. The Client agrees to immediately furnish
        applicable to the segment(s) in which the
                                                           information to the Member in writing, if any
        Client trades. The Member is permitted in its
                                                           winding up petition or insolvency petition has
        sole and absolute discretion to collect
                                                           been filed or any winding up or insolvency
        additional margins (even though not required
                                                           order or decree or award is passed against him
        by the Exchange, Clearing House/Clearing
                                                           or if any litigation which may have material
        Corporation or SEBI) and the Client shall be
                                                           bearing on his capacity has been filed against
        obliged to pay such margins within the             him.
        stipulated time.
     e. Payment of margins by the Client does 8. The Member agrees to inform the Client and
        not necessarily imply complete satisfaction of keep him apprised about trading/ settlement
        all dues. In spite of consistently having paid cycles, delivery/payment schedules, any changes
        margins, the Client may, on the closing of     therein from time to time, and it shall be the
        its trade, be obliged to pay (or entitled to   responsibility in turn of the Client to comply
        receive) such further sums as the contract     with such schedules/ procedures of the relevant
        may dictate/require.                           stock exchange.

3. The Client agrees to pay to the Member 9. In the event of death or insolvency of the Client
   brokerage and statutory levies as are prevailing       or his/its otherwise becoming incapable of
   from time to time and as they apply to the             receiving and paying for or delivering or
   Client's account, transactions and to the services     transferring securities which the Client has
   that Member renders to the Client. The Member          ordered to be bought or sold, the Member may
   agrees that it shall not charge brokerage more         close out the transaction of the Client and claim
   than the maximum brokerage permissible as per          losses, if any, against the estate of the Client. The
   the rules, regulations and bye-laws of the             Client or his successors, heirs and assigns shall be
   relevant stock exchange/SEBI.                          entitled to any surplus which may result there
                                                          from.
4. The Client agrees to abide by the exposure limits,
   if any, set by the Member or     by the Exchange
                                                      10. The Member agrees that it shall co-operate in
   or Clearing Corporation or SEBI from time to           redressing grievances of the Client in respect of
   time.                                                  transactions routed through it and in removing
5.   Without prejudice to the Member's other rights         objections for bad         delivery of shares,
     (including the right to refer a matter to              rectification of bad delivery, etc. in respect of
     arbitration), the Member shall be entitled to          shares and securities delivered/to be delivered
                                                            or received/to be received by the Client.

                                                        X                                                   25
11. The Member shall continue to be responsible            submitted to the jurisdiction of such court as
    for replacing bad deliveries of the Client in          may be specified by the Bye-laws and
    accordance with applicable “Good and bad               Regulations of the Exchange for the purpose
    delivery norms” even after termination of the          of giving effect to the provisions of the Rules,
    agreement and shall be entitled to recover any         Bye-laws and Regulations of the Exchange and
    loss incurred by him in such connection from the       the circulars issued thereunder.
    Client.
                                                       19. The instructions issued by an authorised
12. The Member shall ensure due protection to the          representative, if any, of the Client shall be
    Client regarding Client's rights to dividends,         binding on the Client in accordance with the
    rights or bonus shares, etc. in respect of             letter authorizing the said representative to deal
    transactions routed through it and it shall not do     on behalf of the said Client.
    anything which is likely to harm the interest of
    the Client with whom and for whom it may have 20. Where the Exchange cancels trade(s) suo moto
    had transactions in securities.                     all such trades including the trade/s done on
                                                        behalf of the Client shall ipso facto stand
13. The Client and the Member agree to refer any        cancelled.
    claims and/or disputes to arbitration as per the
    Rules, Bye-laws and Regulations of the Exchange 21. This agreement shall forthwith terminate; if the
    and circulars issued thereunder as may be in        Member for any reason ceases to be a Member
    force from time to time.                            of the Stock Exchange including cessation of
                                                        membership by reason of the Member's default,
14. The Member hereby agrees that he shall ensure       death, resignation or expulsion or if the
    faster settlement of any arbitration proceedings    certificate issued by the Board is cancelled.
    arising out of the transactions entered into
    between him and the Client and that he shall be 22. The Member and the Client shall be entitled
    liable to implement the arbitration awards made     to terminate this agreement without giving any
    in such proceedings.                                reasons to the other party, after giving notice
                                                        in writing of not less than one month to the
15. Information about default in payment/delivery       other parties. Notwithstanding any such
    and related aspects by a Client shall be brought    termination, all rights, liabilities and obligations
    to the notice of the relevant Stock Exchange(s).    of the parties arising out of or in respect of
    In case where defaulting client is a corporate      transactions entered into prior to the
    entity/ partnership/ proprietary firm or any        termination of this agreement shall continue to
    other artificial legal entity, then the name(s) of  subsist and vest in /be binding on the respective
    director(s)/ promoter(s)/ partner(s)/proprietor as  parties or his / its respective heirs, executors,
    the case may be, shall also be communicated to      administrators, legal representatives or
    the relevant stock exchange(s).                     successors, as the case may be.

16. The Member and the Client agree to reconcile 23. In addition to the specific rights set out in
    their accounts at the end of each quarter with        this Agreement, the Member and the Client
    reference to all the settlements where payouts        shall be entitled to exercise any other rights
    have been declared during the quarter.                which the Member or the Client may have under
                                                          the Rules, Bye-laws and Regulations of the
17. The Member and the Client agree to abide by any       Exchange and circulars issued thereunder or
    award passed by the Ombudsman under the               Rules and Regulations of SEBI.
    SEBI (Ombudsman) Regulations, 2003.
                                                      24. Words and expressions which are used in
18. The Member and the Client declare and agree           this Agreement, but which are not defined
    that the transactions executed on the Exchange        herein shall, unless the context otherwise
    are subject to Rules, Bye-laws and Regulations        requires, have the same meaning as assigned
    and circulars issued thereunder of the                thereto in the Rules, Bye- laws and Regulations
    Exchange and all parties to such trade shall have     of the Exchange and circulars issued thereunder.


26                                                     X
25. The provisions of this agreement shall always be    IN WITNESS THEREOF, the parties to the
    subject to Government notifications, any rules,     Agreement have caused these presents to be
    regulations, guidelines and circulars issued by     executed as of the day and year first above
    SEBI and Rules, Regulations and Bye-laws of the     written.
    relevant stock exchange that may be in force
    from time to time.                                  The Client’s Signature / Authorised Signatory:
26. The Member hereby undertakes to maintain the        X
    details of the Client as mentioned in the Client    Signed by : ___________________________________
    registration form or any other information          Title     :___________________________________
    pertaining to the Client in confidence and that
    it shall not disclose the same to any person/       Name of the Client: _________________________
    authority except as required under any
    law/regulatory requirements; Provided               Witness Signature: 1) _________________________
    however, that the Member may so disclose
     information about his Client to any person or
    authority with the express permission of the                             2) _________________________
    Client.

    This agreement can be altered, amended and/or       The Member’s Signature/
    modified by the parties mutually in writing
                                                        Authorised Signatory: __________________________
    without derogating from the contents of this
    Agreement : Provided however, if the rights         Signed by : ___________________________________
    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      Title      :___________________________________
    relevant Stock Exchange, such changes shall be                             TATA SECURITIES LTD.
                                                        Name of the Member : __________________________
    deemed to have been incorporated herein in
    modification of the rights and obligations of the
    parties mentioned in this agreement.                Witness Signature: 1) _________________________


                                                                             2) _________________________


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.




                                                                                                         27
              COMBINED RISK DISCLOSURE DOCUMENT FOR CAPITAL MARKET, FUTURES
                      & OPTIONS AND CURRENCY DERIVATIVES SEGMENTS
This document is issued by the member of the           It must be clearly understood by you that your
National Stock Exchange of India (NSE) / Bombay        dealings on NSE / BSE through a member shall be
Stock Exchange Limited (BSE) which has been            subject to your fulfilling certain formalities set out by
formulated by the Exchange in coordination with the    the member, which may inter alia include your filling
Securities and Exchange Board of India (hereinafter    the know your client form, client registration form,
referred to as "SEBI") and contains important          execution of an agreement, etc., and are subject to
information on trading in Equities / F&O / Currency    the Rules, Byelaws and Regulations of NSE / BSE and
Derivatives Segments of NSE. All prospective           its Clearing Corporation, guidelines prescribed by
constituents should read this document before          SEBI and in force from time to time and Circulars as
trading in Equities / F&O / Currency Derivatives       may be issued by NSE / BSE or its Clearing Corporation
Segments of the Exchange.                              and in force from time to time.

NSE / BSE /SEBI does neither singly or jointly and      NSE / BSE does not provide or purport to provide any
expressly nor impliedly guarantee nor make any          advice and shall not be liable to any person who
representation concerning the completeness, the         enters into any business relationship with any trading
adequacy or accuracy of this disclosure document        member of NSE / BSE and/or any third party based on
nor has NSE /BSE /SEBI endorsed or passed any merits    any information contained in this document. Any
of participating in the trading segments. This brief    information contained in this document must not be
statement does not disclose all the risks and other     construed as business advice. No consideration to
significant aspects of trading.                         trade should be made without thoroughly
                                                        understanding and reviewing the risks involved in
In the light of the risks involved, you should such trading. If you are unsure, you must seek
undertake transactions only if you understand the professional advice on the same.
nature of the contractual relationship into which you
are entering and the extent of your exposure to risk.   In considering whether to trade or authorize
                                                        someone to trade for you, you should be aware of or
You must know and appreciate that trading in Equity must get acquainted with the following:-
shares, F&O contracts, Currency derivatives contracts
or other instruments traded on the Stock Exchange, 1.          BASIC RISKS
which have varying element of risk, is generally not an
appropriate avenue for someone of limited 1.1                  Risk of Higher Volatility:
resources/limited investment and/or trading Volatility refers to the dynamic changes in price that
experience and low risk tolerance. You should a security / F&O contract / currency derivatives
therefore carefully consider whether such trading is contract undergoes when trading activity continues
suitable for you in the light of your financial on the Stock Exchange. Generally, higher the
condition. In case you trade on NSE/ BSE and suffer volatility of a security / F&O contract / currency
adverse consequences or loss, you shall be solely derivatives contract, greater is its price swings. There
responsible for the same and NSE / BSE, its Clearing may be normally greater volatility in thinly traded
Corporation and/or SEBI shall not be responsible, in securities / F&O contracts / currency derivatives
any manner whatsoever, for the same and it will not contracts than in active securities / F&O contracts /
be open for you to take a plea that no adequate currency derivatives contracts. As a result of
disclosure regarding the risks involved was made or volatility, your order may only be partially executed
that you were not explained the full risk involved by or not executed at all, or the price at which your
the concerned member. The constituent shall be order got executed may be substantially different
solely responsible for the consequences and no from the last traded price or change substantially
contract can be rescinded on that account. You must thereafter, resulting in notional or real losses.
acknowledge and accept that there can be no
guarantee of profits or no exception from losses 1.2           Risk of Lower Liquidity:
while executing orders for purchase and/or sale of a Liquidity refers to the ability of market participants
currency derivative contract being traded on NSE / to buy and/or sell securities / F&O contracts / currency
BSE.                                                    derivatives contracts expeditiously at a competitive

28                                                   X
price and with minimal price difference. Generally, it             prices may be significantly different from the
is assumed that more the numbers of orders                         last traded price or the best price in that
available in a market, greater is the liquidity.                   security / F&O contract / currency derivatives
Liquidity is important because with greater liquidity,             contract.
it is easier for investors to buy and/or sell securities /
F&O contracts / currency derivatives contracts swiftly 1.4.2 A "limit" order will be executed only at the
and with minimal price difference, and as a result,                "limit" price specified for the order or a better
investors are more likely to pay or receive a                      price. However, while the customer receives
competitive price for securities / F&O contracts /                 price protection, there is a possibility that the
currency derivatives contracts purchased or sold.                  order may not be executed at all.
There may be a risk of lower liquidity in some
securities / F&O contracts / currency derivatives 1.4.3 A stop loss order is generally placed "away"
contracts as compared to active securities / F&O
                                                                   from the current price of a stock / F&O
contracts / currency derivatives contracts. As a result,
                                                                   contract / currency derivatives contract, and
your order may only be partially executed, or may be
                                                                   such order gets activated if and when the
executed with relatively greater price difference or
                                                                   security / F&O contract / currency derivatives
may not be executed at all.
                                                                   contract reaches, or trades through, the stop
                                                                   price. Sell stop orders are entered ordinarily
1.2.1 Buying or selling securities / F&O contracts /
         currency derivatives contracts as part of a day           below the current price, and buy stop orders
         trading strategy may also result into losses,             are entered ordinarily above the current
         because in such a situation, securities / F&O             price. When the security / F&O contract /
         contracts / currency derivatives contracts may            currency derivatives contract reaches the pre -
         have to be sold / purchased at low / high                 determined price, or trades through such
         prices, compared to the expected price levels,            price, the stop loss order converts to a
         so as not to have any open position or                    market/limit order and is executed at the limit
         obligation to deliver or receive a security /             or better. There is no assurance therefore that
         F&O contract / currency derivatives contract.             the limit order will be executable since a
                                                                   security / F&O contract / currency derivatives
1.3      Risk of Wider Spreads:                                    contract might penetrate the pre-determined
Spread refers to the difference in best buy price and              price, in which case, the risk of such order not
best sell price. It represents the differential between            getting executed arises, just as with a regular
the price of buying a security / F&O contract /                    limit order.
currency derivatives contract and immediately
selling it or vice versa. Lower liquidity and higher 1.5           Risk of News Announcements:
volatility may result in wider than normal spreads for News announcements that may impact the price of
less liquid or illiquid securities / F&O contracts / stock / F&O contract / currency derivatives contract
currency derivatives contracts. This in turn will may occur during trading, and when combined with
hamper better price formation.                             lower liquidity and higher volatility, may suddenly
                                                           cause an unexpected positive or negative movement
1.4      Risk-reducing orders:                             in the price of the security / contract.
The placing of orders (e.g., "stop loss” orders, or
"limit" orders) which are intended to limit losses to 1.6          Risk of Rumours:
certain amounts may not be effective many a time Rumours about companies / currencies at times float
because rapid movement in market conditions may in the market through word of mouth, newspapers,
make it impossible to execute such orders.
                                                           websites or news agencies, etc. The investors should
                                                           be wary of and should desist from acting on
1.4.1 A "market" order will be executed promptly,
                                                           rumours.
         subject to availability of orders on opposite
         side, without regard to price and that, while
                                                           1.7     System Risk:
         the customer may receive a prompt execution
                                                           High volume trading will frequently occur at the
         of a "market" order, the execution may be at
                                                           market opening and before market close. Such high
         available prices of outstanding orders, which
         satisfy the order quantity, on price time volumes may also occur at any point in the day. These
         priority. It may be understood that these may cause delays in order execution or confirmation.


                                                         X                                                       29
1.7.1 During periods of volatility, on account of          into account one's circumstances, financial
      market participants continuously modifying           resources, etc. If the prices move against you, you
      their order quantity or prices or placing fresh      may lose a part of or whole margin amount in a
      orders, there may be delays in order                 relatively short period of time. Moreover, the loss
      execution and its confirmations.                     may exceed the original margin amount.

1.7.2 Under certain market conditions, it may be           A.     Futures trading involves daily settlement of all
      difficult or impossible to liquidate a position      positions. Every day the open positions are marked
      in the market at a reasonable price or at all,       to market based on the closing level of the index /
      when there are no outstanding orders either          F&O contract / currency derivatives contract. If the
                                                           contract has moved against you, you will be required
      on the buy side or the sell side, or if trading is
                                                           to deposit the amount of loss (notional) resulting
      halted in a security / F&O contract / currency
                                                           from such movement. This amount will have to be
      derivatives contract due to any action on
                                                           paid within a stipulated time frame, generally before
      account of unusual trading activity or security      commencement of trading on next day.
      / F&O contract / currency derivatives contract
      hitting circuit filters or for any other reason.   B.     If you fail to deposit the additional amount by
                                                         the deadline or if an outstanding debt occurs in your
1.8    System/Network Congestion:                        account, the broker/member may liquidate a part of
Trading on NSE / BSE is in electronic mode, based on or the whole position or substitute securities. In this
satellite/leased line based communications, case, you will be liable for any losses incurred due to
combination of technologies and computer systems such close-outs.
to place and route orders. Thus, there exists a
possibility of communication failure or system C.               Under certain market conditions, an investor
problems or slow or delayed response from system may find it difficult or impossible to execute
or trading halt, or any such other problem/glitch transactions. For example, this situation can occur
whereby not being able to establish access to the due to factors such as illiquidity i.e. when there are
trading system/network, which may be beyond insufficient bids or offers or suspension of trading
control and may result in delay in processing or not due to price limit or circuit breakers etc.
processing buy or sell orders either in part or in full.
You are cautioned to note that although these D.                In order to maintain market stability, the
problems may be temporary in nature, but when you following steps may be adopted: changes in the
have outstanding open positions or unexecuted margin rate, increases in the cash margin rate or
orders, these represent a risk because of your others. These new measures may also be applied to
obligations to settle all executed transactions.         the existing open interests. In such conditions, you
                                                         will be required to put up additional margins or
                                                         reduce your positions.
2.     As far as Futures and Options segment and
       Currency Derivatives segments are
                                                         E.     You must ask your broker to provide the full
       concerned, please note and get yourself
                                                         details of F&O contracts/ currency derivatives
       acquainted with the following additional
                                                         contracts you plan to trade i.e. the contract
       features:-
                                                         specifications and the associated obligations.
2.1     Effect of "Leverage" or "Gearing"
                                                           2.2    Currency specific risks
In the derivatives market, the amount of margin is
small relative to the value of the derivatives contract
                                                           1.     The profit or loss in transactions in foreign
so the transactions are 'leveraged' or 'geared'.           currency-denominated contracts, whether they are
Derivatives trading, which is conducted with a             traded in your own or another jurisdiction, will be
relatively small amount of margin, provides the            affected by fluctuations in currency rates where
possibility of great profit or loss in comparison with     there is a need to convert from the currency
the margin amount. But transactions in derivatives         denomination of the contract to another currency.
carry a high degree of risk.
                                                     2.    Under certain market conditions, you may
You should therefore completely understand the find it difficult or impossible to liquidate a position.
following statements before actually trading in This can occur, for example when a currency is
derivatives and also trade with caution while taking deregulated or fixed trading bands are widened.


30                                                         X
3.     Currency prices are highly volatile. Price           itself, a risk factor. While this is not to suggest that
movements for currencies are influenced by, among          combination strategies should not be considered, it
other things: changing supply-demand                       is advisable, as is the case with all investments in
relationships; trade, fiscal, monetary, exchange           options, to consult with someone who is
control programs and policies of governments;              experienced and knowledgeable with respect to the
foreign political and economic events and policies;        risks and potential rewards of combination
changes in national and international interest rates       transactions under various market circumstances.
and inflation; currency devaluation; and sentiment
of the market place. None of these factors can be
controlled by any individual advisor and no                3.     GENERAL
assurance can be given that an advisor's advice will
result in profitable trades for a participating          3.1     Commission and other charges
customer or that a customer will not incur losses        Before you begin to trade, you should obtain a clear
from such events.                                        explanation of all commission, fees and other
                                                         charges for which you will be liable. These charges
2.3     Risk of Option holders                           will affect your net profit (if any) or increase your
1.      An option holder runs the risk of losing the loss.
entire amount paid for the option in a relatively short
period of time. This risk reflects the nature of an 3.2          Deposited cash and property
option as a wasting asset which becomes worthless You should familiarise yourself with the protections
when it expires. An option holder who neither sells accorded to the money or other property you
his option in the secondary market nor exercises it deposit particularly in the event of a firm insolvency
prior to its expiration will necessarily lose his entire or bankruptcy. The extent to which you may recover
investment in the option. If the price of the your money or property may be governed by specific
underlying does not change in the anticipated legislation or local rules. In some jurisdictions,
direction before the option expires to an extent
                                                         property which has been specifically identifiable as
sufficient to cover the cost of the option, the investor
may lose all or a significant part of his investment in  your own will be pro-rated in the same manner as
the option.                                              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
2.      The Exchange may impose exercise byelaws/regulations of the Exchange.
restrictions and have absolute authority to restrict
the exercise of options at certain times in specified
circumstances.                                           3.3     For rights and obligations of the clients,
                                                         please refer to Annexure-1 enclosed with this
2.4     Risks of Option Writers                          document.
1.      If the price movement of the underlying is not
in the anticipated direction, the option writer runs 3.4       The term 'constituent' shall mean and include
the risks of losing substantial amount.                a client, a customer or an investor, who deals with a
                                                       member for the purpose of acquiring and/or selling
                                                       of currency derivatives contracts through the
2.      The risk of being an option writer may be
reduced by the purchase of other options on the        mechanism provided by NSE / BSE.
same underlying interest and thereby assuming a
spread position or by acquiring other types of             3.5    The term 'member' shall mean and include a
hedging positions in the options markets or other          trading member, a broker or a stock broker, who has
markets. However, even where the writer has                been admitted as such by NSE / BSE and who holds a
assumed a spread or other hedging position, the            registration certificate from SEBI.
risks may still be significant. A spread position is not
necessarily less risky than a simple 'long' or 'short'     I hereby acknowledge that I have received and
position.                                                  understood this risk disclosure statement and
                                                           Annexure-1 containing my rights and obligations.
3.     Transactions that involve buying and writing
multiple options in combination, or buying or
writing options in combination with buying or              X
selling short the underlying interests, present            _____________________
additional risks to investors. Combination                 Client Signature
transactions, such as option spreads, are more             (If Partner, Corporate, or other Signatory, then attest
complex than buying or writing a single option. And        with company seal)
it should be further noted that, as in any area of
investing, a complexity not well understood is, in         Date _________________
                                                                 DD MM YYYY


                                                           X                                                     31
                                                  ANNEXURE-1
                                    INVESTORS' RIGHTS AND OBLIGATIONS:
1.1 You should familiarise yourself with the 1.3.3 Furnish all such details in full as are required
protection accorded to the money or other property           by the member as required in "Know Your
you may deposit with your member, particularly in            Client" form, which may also include details
the event of a default in the Cash Market / F&O              of PAN or Passport or Driving License or
market / Currency Derivatives market or the broking          Voters Id, or Ration Card, bank account and
firm's insolvency or bankruptcy.                             depository account, or any such details made
                                                             mandatory by NSE/ BSE / SEBI at any time, as
1.1.1 Please ensure that you have a documentary              is available with the investor.
        proof of your having made deposit of such
        money or property with the member, stating 1.3.4 Execute a broker-client agreement in the
        towards which account such money or                  form prescribed by SEBI and/or the Relevant
        property deposited.                                  Authority of NSE / BSE or its Clearing
                                                             Corporation from time to time, because this
1.1.2 Further, it may be noted that the extent to            may be useful as a proof of your dealing
        which you may recover such money or                  arrangements with the member.
        property may be governed by the Bye-laws
        and Regulations of NSE / BSE and the scheme 1.3.5 Give any order for buy or sell of a security /
        of the Investors' Protection Fund in force from      derivatives contract in writing or in such form
        time to time.                                        or manner, as may be mutually agreed.
                                                             Giving instructions in writing ensures that
1.1.3 Any dispute with the member with respect to            you have proof of your intent, in case of
        deposits, margin money, etc., and producing          disputes with the member.
        an appropriate proof thereof, shall be subject
        to arbitration as per the Rules, Byelaws/ 1.3.6 Ensure that a contract note is issued to you
        Regulations of NSE / BSE or its Clearing             by the member which contains minute
        Corporation.                                         records of every transaction. Verify that the
                                                             contract note contains details of order
1.2      Before you begin to trade, you should obtain a      number, trade number, trade time, trade
clear idea from your member of all brokerage,                price, trade quantity, details of the currency
commissions, fees and other charges which will be            derivatives contract, client code allotted to
levied on you for trading. These charges will affect         you and showing the brokerage separately.
your net cash inflow or outflow.                             Contract notes are required to be given/ sent
                                                             by the member to the investors latest on the
1.3      You should exercise due diligence and comply        next working day of the trade. Contract note
with the following requirements of the NSE / BSE             can be issued by the member either in
and/or SEBI:                                                 electronic form using digital signature as
                                                             required, or in hard copy. In case you do not
1.3.1 Please deal only with and through SEBI                 receive a contract note on the next working
        registered members of the Stock Exchange             day or at a mutually agreed time, please get
        and are enabled to trade on the Exchange. All        in touch with the Investors Grievance Cell of
        SEBI registered members are given a                  NSE/ BSE, without delaying.
        registration no., which may be verified from
        SEBI. The details of all members of NSE and 1.3.7 Facility of Trade Verification is available on
        whether they are enabled to trade may be             NSE / BSE website (www.nseindia.com /
        verified from NSE / BSE website                      www.bseindia.com), where details of trade
        (www.nseindia.com).                                  as mentioned in the contract note may be
                                                             verified from the trade date up to five trading
1.3.2 Demand any such information, details and               days. Where trade details on the website, do
        documents from the member, for the purpose           not tally with the details mentioned in the
        of verification, as you may find it necessary to     contract note, immediately get in touch with
        satisfy yourself about his credentials.              the Investors Grievance Cell of NSE/ BSE.

32                                                   X
1.3.8 Ensure that payment of funds against              1.5     In case where a member is expelled from
       settlement is given to the concerned member      trading membership or declared a defaulter, NSE /
       within one working day prior to the date of      BSE gives a public notice inviting claims, if any, from
       pay-in announced by NSE/ BSE or its Clearing     investors. In case of a claim, relating to "transactions
                                                        executed on the trading system" of NSE / BSE, ensure
       Corporation. Payments should be made only
                                                        that you lodge a claim with NSE / BSE within the
       by account payee cheque in favour of the
                                                        stipulated period and with the supporting
       firm/company of the trading member and a         documents.
       receipt or acknowledgement towards what
       such payment is made be obtained from the        1.6     Claims against a defaulter/expelled member
       member.                                          found to be valid as prescribed in the relevant
                                                        Rules/Bye -laws and the scheme under the Investors'
1.3.9 In case pay-out of funds is not received on the   Protection Fund (IPF) may be payable as prescribed by
        next working day after date of pay-out SEBI.
        announced by NSE / BSE or its Clearing
                                                        Notes:
        Corporation, please follow-up with the
        concerned member for its receipt. In case 1.            The term 'constituent' shall mean and include
        pay-out is not received as above from the               a client, a customer or an investor, who deals
        member within five working days, ensure                 with a trading member of NSE / BSE for the
        that you lodge a complaint immediately with             purpose of buying and / or selling of
        the Investors' Grievance Cell of NSE/ BSE.              securities / F&O contracts / currency
                                                                derivatives contracts through the
1.3.10 Every member is required to send a complete              mechanism provided by NSE / BSE.
        'Statement of Accounts', for both settlements
                                                        2.      The term 'member' shall mean and include a
        and margins, to each of its constituents, at
                                                                trading member or a broker or a stock broker,
        such periodicity as may be prescribed from              who has been admitted as such by NSE / BSE
        time to time. You should report errors, if any,         and who holds a registration certificate from
        in the Statement immediately, but not later             SEBI.
        than 30 calendar days of receipt thereof, to
        the member. In case the error is not rectified 3.       The term 'contract' refers to a F&O / currency
                                                                derivatives contract and the term 'underlying'
        or there is a dispute, ensure that you refer
                                                                refers to the underlying index / stock /
        such matter to the Investors Grievance Cell of
                                                                currency of such contract.
        NSE / BSE, without delaying.

1.3.11 In case of a complaint against a member, you
        should address the complaint to the Office as
        may be specified by NSE / BSE from time to
        time.

1.4     In case where a member surrenders his
membership, NSE / BSE 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, ensure that you lodge a claim
with NSE / BSE /Clearing Corporation within the
stipulated period and with the supporting
documents.


                                                     X                                                      33
                                           POLICIES & PROCEDURES
a.   Refusal of orders for penny stocks                    the client's ability to place orders or trade in
     Penny stocks are those stocks which are not           securities through Member, or it may refuse to
     very liquid in nature / which are very thinly         execute / allow execution of orders due to but
     traded in the Exchanges and trade at a                not limited to the reason of lack of margin/
     relatively low price and with low market              securities or the order being outside the limits
     capitalization. These types of stocks are             set by Member/ exchange / SEBI and any other
     generally considered to be highly speculative         reasons which the Member may deem
     and of high risk because of their lack of             appropriate in the circumstances. The client
     liquidity, large bid-ask spreads, small               agrees that the losses, if any on account of
     capitalization and limited following and              such refusal or due to delay caused by such
     disclosure. As per the directions of SEBI, the        review, shall be borne exclusively by the client
                                                           alone.
     Exchanges draw a list of illiquid securities every
     month. Stock Exchanges have directed the
                                                           In case of exposure taken on the basis of shares
     Members to exercise due care and diligence
                                                           margin, the payment towards settlement
     while trading in the prescribed stocks on
                                                           obligation is required to be made before the
     behalf of the Clients. Trading in Z category          exchange pay in date otherwise it will be liable
     stocks are not allowed. Depending upon the            to square off after the pay in time or any time
     market condition and RMS policy of the                due to shortage of margin.
     Company, the Member reserves the right to
     refuse to provide the limit in Penny stocks. The      Exposure will be allowed as per our Risk
     Client is informed that the Member at his             Management Policy guidelines. The Risk
     discretion may refuse trading in the stocks           Manager will review the daily Exposure
     falling under the prescribed list of the              statement, based on end of the day positions.
     Exchanges.                                            The limits allowed to the Client on the next day
                                                           will be set based on this statement.
b.   Setting up Client's exposure limits
     The Member may from time to time impose               Margin requirement may differ as per product
     and vary limits on the orders that the client can     descriptions offered by TSL.
     place through the Member's trading system
     (including exposure limits, turnover limits,          No fresh exposure will be allowed to Clients
     limits as to the number, value and / or kind of       against securities in Ban period.
     securities in respect of which orders can be
     placed etc.) The client is aware and agrees that c.   Applicable brokerage rate
     the Member may need to vary or reduce the             Brokerage will be charged within the limits
     limits to impose new limits urgently on the           prescribed by SEBI/Exchange. The Client will be
     basis of the Member's risk perception and             charged brokerage as per the scheme selected
     other factors including event based,                  by the Client. The brokerage charged will be
                                                           exclusive of any levies/ charges levied by the
     considered relevant by the Member including
                                                           Exchanges/ SEBI/ Regulatory Authority etc. In
     but not limited to limits on account of
                                                           case there is any change in the rate of
     exchange / SEBI directions/limits (such as
                                                           brokerage , the same will be intimated to the
     broker level/market level limits in security
                                                           Client by giving sufficient notice. The Member
     specific/volume specific exposures etc.) and          at his sole discretion and also depending upon
     the Member may be unable to inform the                the volume of trading and clearance of dues by
     client of such variation, reduction or                the client, may alter the rate of brokerage from
     imposition in advance, The client agrees that         time to time.
     the Member shall not be responsible for such
     variation, reduction or imposition or the d.          Imposition of penalty/delayed payment
     client's inability to route any order through the     charges by either party, specifying the rate
     Member's trading system on account of any             and the period
     such variation, reduction or imposition of            Client will be liable to pay delayed payment
     limits. The client further agrees that the            charges upto 1.5% per month on the
     Member may at any time, at its sole discretion        outstanding dues, for not making payment
     and without prior notice, prohibit or restrict        of their settlement / margin obligation
34                                                  X
     on time as per the exchange requirement/               In case the payment of the margin/security is
     schedule. The Client hereby authorizes the             made by the client through a bank instrument,
     Member to directly debit the same to the               the Member shall be at liberty to give the
     ledger account of the client. In case where at         benefit/credit for the same only on the
     any point of time the Member delays payment            realization of the funds from the said bank
     to the client, reasons being settlement                instrument etc, at the absolute discretion of
     obligation to the client, margin refund is not         the Member. Where the margin / security is
     done as per exchange requirement, the                  made available by way of securities or any form
     delayed payment charges applicable will be             of asset, the Member is empowered to decline
     same as mentioned above. However the                   its acceptance as margin / security and / or to
     decision will depend upon the merit of the             accept it at such reduced value as the Member
     case and sole discretion of the Member.
                                                            may deem fit by applying haircuts or by valuing
                                                            it by marking it to market or by any other
     Further where the Member has to pay any fine
                                                            method as the Member may deem in its
     or bear any punishment from any authority in
                                                            absolute discretion.
     connection with / as a consequence of / in
     relation to any of the orders / trades / deals /
     actions of the client, the same shall be borne         The Member has the right but not the
     by the client. Any amount owed by the Client           obligation, to cancel all pending orders and to
     to the Member (including the late payment              sell/close/liquidate all open positions/
     charges on delayed payment) shall be adjusted          securities/ shares at the pre-defined square-off
     by the Member from the dues owed to the                time or when Mark to Market (M-T-M)
     Client. Conversely, any money owed by the              percentage reaches or crosses stipulated
     Member to the Client may be adjusted by the            margin percentage whichever is earlier. The
     Member towards the dues owed by the Client             Member will have the sole discretion to decide
     to the Member.                                         referred stipulated margin percentage
                                                            depending upon the market condition. In the
e.   Right to sell Clients' securities or close             event of such square off, the client agrees to
     Clients' positions, without giving notice to           bear all the losses based on actual executed
     the Client, on account of non-payment of               prices.
     Client's dues
     The client shall ensure timely availability of
     funds/securities in the form and manner as f.          Shortages in obligations arising out of
     prescribed by the Exchange / Member, for               internal netting of trades
     meeting his/her/its pay in obligation of funds         If the Member is unable to deliver the
     and securities. Without prejudice to the               securities on the pay-out day due to non-
     Member's other right (including the right to           receipt of the said securities from another
     refer the matter to arbitration), the                  Client of the Member who has sold the
     Member shall be entitled to liquidate / close          securities against the        said purchase
     out at any time all or any of the client's position    transaction, the account of the Client, who
     without giving notice to the client for non
                                                            has purchased the securities, will be settled as
     payment of margins or other amounts
                                                            per the policy of the Member as amended
     including the pay in obligation, outstanding
                                                            from time to time.
     debts etc within the scheduled time and adjust
     the proceeds of such liquidation/close out, if
                                                            For internal shortage the auction closeout
     any, against the client's liabilities/obligations.
                                                            policy is as follows:
     Any and all losses and financial charges on            T+3 closing rate of that scrip + 10%
     account of such liquidation / closing out shall          OR
     be charged to and borne by the client. In cases        Highest Transaction rate of Clients traded
     of securities lying in margin account/client           through Member for that scrip between T to
     beneficiary account (Member) and having                T+5 day,
     corporate actions like Bonus, Stock split, Right
     issue etc the same will be given when the              From both the conditions, whichever is higher
     shares is actually received in the respective          is charged to the Client.
     demat account.


                                                        X                                                35
g.     Conditions under which a Client may not be              During the period in which client account is
       allowed to take further position or the                 suspended, the market transaction in the
       broker may close the existing position of a             client account will not be permitted. However
       Client,                                                 delivery of shares to the client and payment of
(i)    For MTM shortfall                                       ledger balance can be effected.
       The MTM position of the Client would be
       monitored by the Risk Management                        Upon receipt of request of the client in writing,
       department at the HO. If the Client's MTM loss          the client account will be closed provided the
       reaches 50% of the margin, the Risk                     client's ledger balance is Nil. If the client wants
       Management Department would intimate the                to reopen the account in future client has to
                                                               complete the KYC requirements again.
       concerned branch office and Customer Care
       department, about the amount of shortfall.
                                                               The request for suspending/ closing the Client's
       The client will be informed by the Customer
                                                               account will only be accepted if the same is
       Care Executive or by the concerned
                                                               provided as per the form prescribed by the
       Relationship Manager on recorded line. To the           Member. No request for closure via e-mail
       extent feasible or in such other manner as may          would be accepted. On receipt of the account
       be feasible. If the client does not fulfill the         closure request form, if the same is in order,
       margin requirement, and the MTM loss                    the account would be closed within 1 working
       reaches 70% of the initial margin requirement,          day after the settlement of dues.
       the position will be squared-off by the Risk
       Management department. No exceptions will i.            Deregistering a Client.
       be allowed.                                             Notwithstanding anything to the contrary
       In extreme cases, i.e., on days of very high            stated in the agreement, the Member shall be
       volatility, the Risk Management department              entitled to terminate the agreement with
       may liquidate the position without intimating           immediate effect in any of the following
       the Client also. In such cases, the client will be      circumstances:
       informed subsequently.
                                                               (i)     If the action of the client is prima facie
(ii)   For Intra-Day trades:                                           illegal/improper or such as to manipulate
       For Client indulging in intra-day trading, the                  the price of any securities or disturb the
       Risk Management department will start                           normal/proper functioning of securities
       squaring off all the margin position from 3:00                  or disturb the normal / proper
       p.m or if the Client reaches the blow out                       functioning of the market, either alone
       percentage of 70% of the initial margin                         or in conjunction with others.
                                                               (ii)    If there is any commencement of a legal
       whichever is earlier.
                                                                       process against the client under any law
       Clients with high open positions will be
                                                                       in force;
       squared off first.
                                                               (iii)   On the death/lunancy or other disability
       Before squaring off Clients' position at 3.00
                                                                       of the Client
       p.m., all the pending orders of the Clients will
                                                               (iv)    If the client being a partnership firm,
       be cancelled by the respective dealer.
                                                                       steps are taken by the Client and/or its
       No fresh purchase positions will be allowed to
                                                                       partners for dissolution of the
       the Clients after 3.00 p.m. and all margin                      partnership;
       trading positions of the said Clients will be           (v)     If the Client suffers any adverse material
       squared off from 3.00 p.m.                                      change in his/her/its financial position or
                                                                       defaults in any other agreement with the
h.     Temporarily suspending or closing a Client's                    Member;
       account at the Client's request                         (vi)    If there is reasonable apprehension that
       Upon receipt of request of the client in writing,               the Client is unable to pay its debts or the
       the client account can be suspended                             Client has admitted its inability to pay its
       temporarily and same can be activated on the                    debts, as they become payable;
       written request of the client only.




36                                                         X
(vii) If the Client has made any material j.        Inactive client account
       misinterpretation of facts,including         Client account will be considered as inactive if
       (without limitation) in relation to the      the client does not trade for period of 6
       Security;                                    months. Classification will be done periodically
(viii) If the Client has made any material          and those clients who have not traded even a
       misrepresentation of facts, including        single time will be considered as inactive.
       (without limitation) in relation to the      Member at his sole discretion may place
       Security;                                    restriction on the trading or deactivate the
(ix) If a receiver, administrator or liquidator     trading. The client has to make written request
       has been appointed or allowed to be          for reactivation of his/her account.
       appointed of all or any part of the          Client Acceptance of Policies and Procedures
       undertaking of the Client;                   stated hereinabove:
(x) If the Client suffers any action for
       its reorganization, liquidation or           I/We have fully understood the same and do
       dissolution;                                 hereby sign the same and agree not to call into
(xi) If the Client has voluntarily or               question the validity, enforceability and
       compulsorily become the subject of           applicability of any provision / clauses. These
       proceedings under any bankruptcy or          Policies and Procedures may be amended /
       insolvency law or being a company, goes      changed unilaterally by the Member, provided
       into liquidation or has a receiver           the change is informed to me/us through any
       appointed in respect of its assets or        one or more means or methods including
       refers itself to the Board for Industrial    email on my designated email id. These Policies
       and Financial Reconstruction or under        and Procedures shall always be read along
       any other law providing protection as a      with the agreement and shall be compulsorily
       relief undertaking;                          referred to while deciding any dispute /
(xii) If any covenant or warranty of the Client     difference or claim between me / us and
       is incorrect or untrue in any material       Member before any court of law/judicial/
       respect;                                     adjudicating authority including arbitrator /
(xiii) If he fails to update the Member of          mediator etc.
       his/her/its financial status by providing
       networth certificate/ copy of IT returns /
       Balance Sheets and other financial
       statements/documents.
                                                    X
                                                    __________________
                                                    Signature of Client

                                                    Date:__________________________________


                                                    Place:__________________________________




                                                                                                 37
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                                                                     39
           ADDITIONAL TERMS AND CONDITIONS SUPPLEMENTAL TO THE MEMBER CLIENT
                                      AGREEMENT

The following terms and conditions are not part (iv) “ITORS Account Application” means the
of model formats of Uniform Set of Documents                    application submitted by the Client to the
prescribed by SEBI under Uniform Documentary                    Trading Member to permit the Client to avail of
requirements vide its circular number SEBI/ MIRSD/              the Trading Member's ITORS Service.
DPS-1/CIR-31/2004 dated August 26, 2004. These (v) “ITORS Service” or “Service” means the service
terms and conditions have been added in order to                offered by the Trading Member to its clients
ensure smooth functioning of trading and to                     through ITORS whereunder the clients can
enhance the transparency of Member-Client                       route their orders for purchase, sale and other
relation. The Client is further informed that he/she/it         dealings in securities through the Trading
may strike out any of these terms and conditions, if            Member's ITORS System.
he/ she/it does not wish to accept the same.               (vi) “Trading Member's ITORS System” or “Trading
                                                                Member's ITORS WebSite” means the website
The Client and the Member, in addition to the                   hosted by the Trading Member on the internet
clauses mentioned in the Member Client Agreement,               through which the Trading Member offers the
also agree to the terms and conditions stated herein            ITORS Service and includes the hardware and
below :                                                         software used for hosting and supporting the
                                                                WebSite.
1. The Trading Member offers the ITORS Service to (vii) “Password” means an alphanumeric code
       its Clients; and the Client desires to avail of the      used by the Client to validate his/her username
       Trading Member's ITORS Service for                       and access the Service.
       purchasing, selling or otherwise dealing in (viii) “SEBI” means the Securities & Exchange Board
       securities;                                              of India.
                                                           (ix) “Username” means an alphanumeric login
       The Trading Member and the Client desire to              identification used by the Client for accessing
       consent for paragraphs 2 to 21 in order to               the Service.
       record the agreement between them relating
       to the Trading Member's ITORS Service to be 2.2 In these presents, headings are used for
       availed of by the Client.                                convenience and ease of reference only and
                                                                shall not affect the construction or
2. Definitions:                                                 interpretation of any provision of these
                                                                presents.
2.1 In these presents, unless the context otherwise
       requires the following words shall have the 2.3 In these presents, unless the context otherwise
       following meanings:-                                     requires, reference to the singular includes a
(i) “The Exchange” means the Bombay Stock                       reference to the plural and vice-versa, and
       Exchange Ltd and includes a segment of the               reference to any gender includes a reference to
       Exchange.                                                all other genders.
(ii) “Exchange Provisions” means the Rules, Bye-
       laws, Regulations, Business Requirement, 2.4 In these presents, unless the context
       Specifications, handbooks, notices, circulars            otherwise requires, references to Recitals and
       and resolutions of the Exchange or any                   paragraphs shall be deemed to be a reference
       segment of the Exchange in force from time to            to the recitals and paragraphs of these
       time and includes the Minimum Requirements               presents.
       Handbook for ITORS prescribed by the
       Exchange, as amended from time to time.             2.5 References to any enactment are to be
(iii) “ITORS” means Internet based Trading through              construed as referring also to any amendment
       Order Routing System, being a system                     or re-enactment thereof and to any rule, bye-
       approved by the Exchange for enabling clients            law, regulation, business requirement,
       to route their orders to their Trading Member/s          specification, order or other provision made
       over the internet.                                       under it.




40                                                    X
3.    CONSENT TO PROVIDE AND AVAIL OF THE ITORS               Client through the System. The Client agrees
      SERVICE                                                 that he shall be fully liable and responsible for
                                                              any and all unauthorised use and misuse of
      The Trading Member agrees to provide the                his Password and/or Username and also for
      Trading Member's ITORS Service to the Client,           any and all acts done by any person through the
      and the Client agrees to avail of the Trading           Trading Member's ITORS System on the Client's
      Member's ITORS Service, on and subject to the           Username in any manner whatsoever.
      terms and conditions contained herein, the
      Exchange Provisions and the terms of the 4.6 The Client shall log off from the ITORS Service at
      Trading Member's ITORS Web Site.                       any time the Client is not accessing or using the
                                                             Service and any liability incurred to the Client as
4.    USER NAME AND PASSWORD                                 a consequence of the Client not logging off the
                                                             Service shall borne solely by the Client.
4.1   The Client will be entitled to a username and
      password, which will enable him to access the 4.7 Without prejudice to the provisions of
      Trading Member's ITORS System for availing of          paragraph 4.5, the Client shall immediately
      the Service.                                           notify the Trading Member in writing with full
                                                             details if :
4.2   The Client is aware that the Trading Member's (i) he discovers or suspects unauthorised access
      ITORS System itself generates the initial              through his Username, Password or account,
      password and that the Trading Member is (ii) he notices discrepancies that might be
      aware of the same. The Client agrees and               attributable to unauthorised access,
      undertakes to immediately change his initial (iii) he forgets his password or
      password      upon      receipt   thereof.    The (iv) he discovers a security flaw in the Trading
      Client is aware that subsequent passwords              Member's ITORS System.
      are not known or available to the Trading
      Member.                                           4.8 In any of the above events specified in
                                                             paragraph 4.7, the Client shall immediately
4.3   The Client shall be responsible for keeping            change his Password. However, if the Client is
      the Username and Password confidential and             unable to change his Password by reason of his
      secure and shall be solely responsible for all         having forgotten his Password or his Password
      orders entered and transactions done by any            having been unauthorizedly changed by
      person whosoever through the Trading                   some other person or for any other reason then
      Member's ITORS System using the Client's               the Client shall immediately request the Trading
      Username and/or Password whether or not such           Member in writing to discontinue his old
      person was authorised to do so.                        Password; and thereupon the Trading Member
                                                             shall cause the Trading Member's ITORS System
4.4   The Client shall immediately inform the Trading        to discontinue the use of the Client's old
      Member of any unauthorised use of the Client's         Password and the Trading Member's ITORS
      Username or Password with full details of such         System shall generate a new Password for the
      unauthorised use including the date of such            Client which shall be communicated to the
      unauthorised use, the manner in which it was           Client. At no point in time shall the Trading
      unauthorisedly used, the transactions effected         Member be liable for any loss, whether notional
      pursuant to such unauthorised use, etc.                or actual, that may be suffered by the Client on
                                                             account of the misuse of the Password.
4.5   The Client acknowledges that he is fully aware
      of and understands the risks associated with 5. TRANSACTIONS AND SETTLEMENTS
      availing of a service for routing orders over the
      internet including the risk of misuse and 5.1 All orders for purchase, sale or other dealings in
      unauthorised use of his Username and/or                securities and other instructions routed through
      Password by a third party and the risk of a            the Trading Member's ITORS System via the
      person hacking into the Client's account on the        Client's Username shall be deemed to have been
      Trading Member's ITORS System and                      given by the Client.
      unauthorisedly routing orders on behalf of the



                                                       X                                                     41
5.2 The orders and instructions and all contracts 6.         MARGIN
    and transactions entered into pursuant
    thereto and the settlement thereof will be               The Client agrees and undertakes to
    in accordance with the Exchange Provisions.              immediately deposit with the Trading Member
                                                             such cash, securities or other acceptable
5.3 The Trading Member may from time to time                 security, which the Trading Member may require
    impose and vary limits on the orders which the           as margin. The Client agrees that the Trading
    Client can place through the Trading Member's            Member shall be entitled to require the Client to
    ITORS System (including exposure limits,                 deposit with the Trading Member a higher
    turnover limits, limits as to the number, value          margin than that prescribed by the Exchange.
    and/or kind of securities in respect of which            The Trading Member shall also be entitled to
    orders can be placed, the companies in                   require the Client to keep permanently with the
    respect of whose securities orders can be                Trading Member a margin of a value specified
    placed, etc.). The Client is aware and agrees that
                                                             by the Trading Member so long as the Client
    the Trading Member may need to vary or reduce
                                                             desires to avail of the Trading Member's ITORS
    the limits or impose new limits urgently on the
                                                             Service.
    basis of the Trading Member's risk
    perception and other factors considered
                                                       7.    CANCELLATION REQUESTS
    relevant by the Trading Member, and the
    Trading Member may be unable to inform
                                                       7.1   When the Client places a request to cancel an
    the Client of such variation, reduction or
                                                             order, the cancellation of that order is not
    imposition in advance. The Client agrees that
    the Trading Member shall not be responsible for          guaranteed. The order will only be cancelled if
    such variation, reduction or imposition or the           the Client's request for cancellation is received
    Client's inability to route any order through the        and the order is successfully cancelled before it
    Trading Member's ITORS System on account of              is executed.
    any such variation, reduction or imposition of
    limits. The Client understands and agrees that 7.2       The Client shall not be entitled to presume an
    the Trading Member may at any time, at its sole          order as having been executed or canceled until
    discretion and without prior notice, prohibit or         a confirmation from the Trading Member is
    restrict the Client's ability to place orders or         received by the Client.
    trade in securities through the Trading Member.
                                                       7.3   The Exchange may anull a trade suo-moto
5.4 Though orders will generally be routed to the            without giving a reason therefor. In the event of
    Exchange's computer systems within a few                 such anullment, the Trading Member shall be
    seconds from the time the order is placed by the         entitled to cancel the relative contract(s) with
    Client on the Trading Member's ITORS System,             the Client.
    the Trading Member shall not be liable for
    any delay in the execution of any order or 8.            BROKERAGE, COMMISSIONS AND FEES
    for any resultant loss on account of the delay.
                                                       8.1   The Client agrees to pay the Trading
5.5 The Client agrees that the Trading Member                Member brokerage, commission, fees, service
    may, at its sole discretion, subject any order           tax and other taxes and transaction expenses as
    placed by a Client to manual review and entry,           they exist from time to time and as they apply to
    which may cause delays in the processing of the          the Client's account and transactions, and the
    Client's order or may result in rejection of such        services that he receives from the Trading
    order.                                                   Member.

5.6 In case of a market order, the Client agrees that 8.2 A schedule of brokerage, fees and commissions,
    he will receive the price at which his order is       applicable service and other taxes and other
    executed by the exchange's computer system;           transaction expenses shall be provided by the
    and such price may be different from the price        Trading Member to the Client from time to time
    at which the security is trading when his order       upon request by the Client.
    is entered into the Trading Member's ITORS
    System.

42                                                  X
9.     CONFIRMATIONS                                         11.1   All the information provided and statements
                                                                    made in the Client's Account Application are
       Online confirmation will be available to the                 true and correct and are not misleading
       Client upon execution or cancellation of an                  (whether by reason of omission to state a
       order placed by him through the Trading                      material fact or otherwise) and the Client is
       Member's ITORS System. This shall be followed                aware that the Trading Member has agreed to
       by a confirmation, which may be sent by postal               provide the Trading Member's ITORS Service
       mail, electronic mail or other electronic means.             to the Client on the basis, inter alia, of the
       It is the responsibility of the Client to review             statements made in the Client's ITORS
       upon first receipt, whether delivered to him                 Account Application.
       online, by postal mail, by electronic mail, or
       other electronic means, all confirmations of 11.2            The Client is aware and acknowledges that
       transactions or cancellations.                               trading over the internet involves many
                                                                    uncertain factors and complex hardware,
10. INVESTMENT ADVICE                                               software, systems, communication lines,
                                                                    peripherals, etc. which are susceptible to
10.1     The Client acknowledges that the Trading                   interruptions and dislocations; and the
         Member shall not be liable to provide him                  Trading Member's ITORS Service may at any
         with any legal, tax, investment or accounting              time be unavailable without further
         advice or advice regarding the suitability or              notice. The Trading Member and the
         profitability of a security or investment.                 Exchange do not make any representation or
                                                                    warranty that the Trading Member's ITORS
10.2     The Client also acknowledges that the                      Service will be available to the Client at all
         Trading Member's employees are not                         times without any interruption. The Client
         authorized to give any such advice and that                agrees that he shall not have any claim
         the Client will not solicit or rely upon any such          against the Exchange or the Trading Member
         advice from the Trading Member or any of its               on account of any suspension, interruption,
         employees.                                                 non-availability or malfunctioning of the
                                                                    Trading Member's ITORS System or Service or
10.3     The Client agrees that in the event of the                 the Exchange's service or systems for any
         Trading Member or any employee or official                 reason whatsoever.
         of the Trading Member providing any
         information, recommendation or advice to 11.3              The Client has the required legal capacity to,
         the Client, the Client may act upon the same               and is authorised to, enter into these presents
         at the sole risk and cost of the Client, and the           and is capable of performing his obligations
         Trading Member shall not be liable or                      and undertakings hereunder.
         responsible for the same.
                                                          11.4      All actions required to be taken to ensure
10.4     The Client assumes full responsibility with                compliance of all the transactions, which
         respect to his investment decisions and                    the Client may enter into pursuant to
         transactions.                                              these presents with all applicable laws, shall
                                                                    be completed by the Client prior to such
10.5     The Trading Member, its officers, directors,               transaction being entered into.
         partners, employees, agents and affiliates will
         have no liability with respect to any 11.5                 The Client shall abide by the Exchange
         investment decisions or transactions of the                Provisions and the terms of the Trading
         Client.                                                    Member's ITORS WebSite in force from time
                                                                    to time.
11. REPRESENTATIONS AND WARRANTIES OF
    CLIENT                            11.6                          Any instructions given by an authorised
                                                                    representative of the Client to the Trading
       The Client represents and warrants to the                    Member (or to the Trading Member's
       Trading Member that:                                         representative) shall be binding on the Client.




                                                             X                                                  43
12. REPRESENTATIONS AND WARRANTIES OF THE                        To the Trading Member at: Tata Securities Ltd.
    TRADING MEMBER:                                              One Forbes, Dr V B Gandhi Marg, Fort,
                                                                 Mumbai -400 001.
       The Trading Member represents and warrants to             Fax no.: 022 6610 6723
       the Client that :-                                        Email: investcare@tatacapital.com

       The Trading Member's ITORS System has been                To the Client at the address, fax, or E-mail
       approved by the Exchange. Where the ITORS                 address stated in the account opening form
       system has not been approved by the Exchange,             or at such other address, facsimile
       the Trading Member has applied/ proposes to               number or e-mail address as the party to
       apply to the Exchange to approve the said ITORS           be served may have notified the other in
       System and the Trading Member will commence               accordance with the provisions of this
       the Trading Member's ITORS Service only after             paragraph.
       the Exchange has approved the Trading .
       Member's ITORS System .                                   Notwithstanding anything stated above,
                                                                 communication relating to orders, margins,
13. MARKET DATA                                                  maintenance calls and other similar matters
                                                                 in the ordinary course of dealings between
13.1     The Client understands that the Exchange                the Trading Member and the Client may be
         asserts a proprietary interest in all of the            communicated orally.
         market data it furnishes, directly or through
         the Trading Member or otherwise. The Client 15. EXTRAORDINARY EVENTS
         understands that the Exchange does not
         guarantee the timeliness, sequence, accuracy     The Trading Member and/or its agents will not
         or completeness of market data or any other      be liable for losses caused directly or indirectly
                                                          by government restriction, Exchange or market
         market information, or any messages
                                                          rulings, suspension of trading, computer,
         disseminated by it. Neither the Trading
                                                          communication, telephone or system failure,
         Member nor the Exchange shall be liable in
                                                          war, earthquakes, flood, accident, power
         any way for incorrect, misleading, incomplete
                                                          failure, equipment or software malfunction,
         or dated data or information and, if the Client
                                                          strikes or any other conditions beyond the
         acts on the basis of the same, he shall do so at
                                                          Trading Member's control.
         his own risk and cost.
                                                           16. AMENDMENT TO THESE PRESENTS
13.2     The Client shall not furnish market
         information provided by the Exchange to any           The Client understands and agrees that the
         other person or entity for consideration or           Trading Member may discontinue his ITORS
         otherwise and in the event the Client uses            Service in part or in its entirety and change the
         such information he shall do so at his own risk       terms of the Service (including the terms on the
         and cost.                                             Trading Member's ITORS WebSite) at any time
                                                               and from time to time, without prior notice.
14. NOTICES
                                                       17. TERMINATION OF THESE PRESENTS
14.1     Any notice or other communication to be
         given by any party to the other in connection 17.1 The Client agrees that the Trading Member
         with these presents shall be in writing and         may at any time terminate the operation of
         shall be deemed duly served if delivered            these provisions pertaining to ITORS. The
         personally or sent by facsimile transmission        Client is aware and accepts that in view of the
         or by prepaid registered post or by e-mail to       nature of the transactions and dealings
         the addressee at the address or (as the case        involved in providing the Service it may not be
         may be), the e-mail or facsimile number (if         possible for the Trading Member to give
         any), of that party set opposite its name           advance notice of such termination or
         below:                                              suspension to the Client.



44                                                         X
17.2 The Client may at any time terminate the 20.2 These presents and all contracts and
       operation of these provisions pertaining to            transactions between the Trading Member
       ITORS by not less than seven days notice to            and the Client pursuant hereto shall be
       the Trading Member, provided that unless the           subject to the Exchange Provisions, the
       Trading Member otherwise permits, the                  Rules, Bye-Laws, Regulations, and other
       Client shall not be entitled to terminate these        provisions of its clearing house, if any, the
       presents so long as any amount is payable or           provisions of the Securities and Exchange
       securities are deliverable by the Client to the        Board of India Act, 1992, the Securities
       Trading Member.                                        Contracts (Regulation) Act of 1956 and the
                                                              rules and regulations made thereunder and
17.3 The termination of the operation of these                as amended from time to time.
       provisions pertaining to ITORS shall not affect
       any rights or obligations of either party which 21. DISPUTE RESOLUTION
       have accrued prior to the termination or            Any claim, dispute or difference arising
       which may arise out of or in connection with        between the Parties hereto in respect of these
       acts done or omitted prior to the termination.      presents or any contracts, dealings or
                                                           transactions pursuant hereto or any rights,
17.4 The provisions of paragraphs 14, 20 and 21 of         obligations, terms or conditions as contained
       these presents shall survive the termination of     in these presents or the interpretation or
       these presents.                                     construction of these presents shall be subject
                                                           to the grievance redressal procedure of the
                                                           Exchange and shall be subject to the arbitration
18. SEVERABILITY                                           procedure as prescribed by the Exchange
    In the event of any provisions of these presents       Provisions.
    being held to be or becoming               invalid,
    unenforceable or illegal for any reason, 22. The Trading Member offers the NSE Internet
    these presents shall remain otherwise in full          Trading Services to its Clients; and the Client
    force apart from the said provision which              desires to avail of the Trading Member's NSE
    will be deemed deleted. The parties shall              Internet Trading Services for purchasing, selling
    however attempt to replace the deleted                 or otherwise dealing in securities;
    provision with a legally valid provision that
    reflects the same purpose as the deleted               The Trading Member and the Client desire to
    provision to the greatest extent possible.             consent for paragraphs 22.1 to 22.11 in order to
                                                         record the agreement between them relating to
19. WAIVER                                               the Trading Member's NSE Internet Trading
    No forbearance, relaxation or inaction by any        Services to be availed of by the Client.
    party at any time to require the performance of
    any provision of these presents shall in any way 22.1. The provisions of these presents shall always
    affect, diminish, or prejudice the right of            be subject to Government notifications, any
    such party to require the performance of that          rules, regulations and guidelines issued by
    or any other provision of these presents or be         SEBI and Stock Exchange rules, regulations
    considered to be a waiver of any right,                and Bye-laws that may be in force from time
    unless specifically agreed in writing.                 to time.

20. LAW AND JURISDICTION                                22.2   In the event of death or insolvency of the
                                                               Client or his otherwise becoming incapable of
20.1   These presents shall be governed by and                 receiving and paying for or delivering or
       construed in all respects in accordance with            transferring securities which the Client has
       the laws of the Republic of India and, subject          ordered to be bought or sold, Trading
       to the provisions of paragraph 21, the                  Member may close out the transaction
       courts at Mumbai, India shall have                      of the Client and the Client or his legal
       jurisdiction over these presents and the                representative shall be liable for any losses,
       arbitration proceedings in relation to these            costs and be entitled to any surplus which
       presents.                                               may result therefrom.



                                                        X                                                 45
22.3     These presents entered into between the 22.10 The Trading Member and the Client are aware
         Trading Member and the Client shall stand              of the provisions of Bye-Laws, Rules and
         terminated by mutual consent of the parties            regulations of the Exchange relating to
         by giving atleast one month written notice.            resolution of disputes/ differences through
         Such cancellation or termination shall not             the mechanism of arbitration provided by the
         have any effect on transaction executed                Exchange and agree to abide by the said
         before the date of such notice of termination          provisions.
         and the parties shall enjoy the same rights
         and shall have the same obligations in respect 22.11 All trades, transactions and contracts are
         of such transactions.                                  subject to the Bye-Laws, Rules and
                                                                Regulations of the Exchange and shall be
22.4    The instructions issued by an authorized                deemed to be and shall take effect as
         representative of the Client shall be binding          wholly made, entered into and to be
         on the Client in accordance with the letter            performed in the city of Mumbai and the
         authorizing the said representative to deal on         parties to such trade shall be deemed to
         behalf of the Client                                   have submitted to the jurisdiction of the
                                                                Courts in Mumbai for the purpose of
22.5     The Client is aware that authentication                giving effect to the provisions of the Rules
         technologies and strict security measures are          and Regulations of the Exchange.
         required for the internet trading through
         order routed system and undertakes to
         ensure that the password of the Client 23. The Client hereby consents for the additional
         and/or his authorised representative are            paragraphs from 24 to 50 in these presents.
         not revealed to any third party.
                                                         24. CLIENT'S ADDITIONAL REPRESENTATIONS
22.6.    The Client agrees that the Trading Member
         shall not be liable or responsible for non-
         execution of the orders of the Client due to        The Client has represented to the Member that:
         any link/ system failure at the Client/ Member/ a. He/She/It is eligible to consent to the contents
         Exchange end.                                       mentioned in these presents.
                                                         b. All actions required to be taken to ensure
22.7     The Stock Exchange may cancel a trade suo-          compliance of the transaction with all
         moto without giving any reason thereof. In          applicable laws have been completed.
         the event of such cancellation, Trading c. Undertakes not to act as a sub-broker without
         Member shall be entitled to cancel relative         prior written permission of the Member /
         contract(s) with Client.                            Exchange and without obtaining certificate of
                                                             registration from Securities and Exchange
22.8     The Trading Member shall also send the              Board of India (SEBI).
         Order/Trade confirmation slip through E-mail d. The trading and other instructions issued to
         to the CLIENT at his request, within 24             the Member for facilitating and carrying out
         hours from the time of execution of order/          business issued telephonically or through any
         trade on the NEAT system, as the case may be.       other means either express or implied by an
         The Client agrees that the information sent by      authorized representative of the Client shall
         Trading Member by E-mail is deemed to               be binding on the Client.
         be a valid delivery of such information by
         the Trading Member.
                                                         25. AUTHORISED REPRESENTATIVE
22.9     The CLIENT is aware that the Trading Member         The instructions issued by the authorised
         has provided on the website a facility for          representative, if any, of the Client shall be
         reconfirmation of orders, which are larger          binding on the Client in accordance with the
         than that specified by the Trading Member's         communication authorizing the said
         risk management, by the Trading Member              representative to deal on the behalf of the
         and is also aware that the Trading Member           Client. In the event of the authorised
         has the discretion to reject the execution of       representative being replaced or any authority
         such orders based on his risk perception.           being revoked , it shall be the responsibility of

46                                                     X
     the Client to inform the Member of the change,                valued at the latest market price available
     in writing.                                                   (marked to market) on a continuous basis
                                                                   by the Member. The Client undertakes to
26. PROPRIETARY TRADING                                            monitor the adequacy of the collateral
    The Member discloses herewith that it                          and the market value of such securities
    undertakes / may undertake proprietary                         on a continuous basis. If due to price
    trading.                                                       fluctuations, there is erosion in the value of
                                                                   the margins, the Client agrees to replenish
27. MARGINS                                                        any shortfall in the value of the Margins
a. All Margins shall be paid by the Client in the                  immediately, whether or not the Member
    form of Funds (which shall hereinafter mean                    intimates such shortfall.
    and include account payee cheques,                       (iii) All corporate benefits, including but not
    telegraphic, telex or wire transfers, but not cash             restricted to Bonus/Right Shares accruing
    or currency) /securities as laid down in the Sub-              on the Securities so deposited shall be
    para (b) of this paragraph.                                    credited into the aforesaid depository
                                                                   account or to the Client's trading account
     In case where the payment by the Client                       as the case may be, unless otherwise
     towards the margin is made through an                         agreed to by the Member, and shall
     account payee cheque issued in favour of the                  constitute margin for the Clients
     Member, the Member, only upon the                             trades/transactions.
     realization of the funds of the said cheque,            (iv) The Member may, at its sole discretion,
     would execute any trade(s) of the Client                      prescribe that the payment of Margin
                                                                   money for further trades shall be in the
b.   Margin in the form of Securities:                             form of Funds instead of securities. The
     (i) The Client may place margin with the                      Client accepts to comply with the
          Member in the form of securities if                      Member's requirement of payment of
          approved by the Member and the Stock                     Margin in the form of Funds immediately
          Exchange. The Member may prescribe the                   failing which the Member may sell,
          list of select dematerialised securities                 dispose, transfer or deal in any other
          eligible for acceptance as margins. This list            manner the securities already placed with it
          may be revised, modified or replaced by the              as Margin or square off all or some of the
          Member from time to time without giving                  positions of the Client as it deems fit in its
          any notice to the Client and the Client shall            discretion without further reference to the
          accordingly replace the securities (placed               Client and any resultant or associated
          as margins) with the Member within the                   losses that may occur due to such square
          time specified by the Member. Such                       off/sale shall be borne by the Client, and
          securities may be either placed in a                     the Member is hereby fully indemnified
          separate Demat account titled “Tata                      and held harmless by the Client in this
          Securities Limited " or in such account of               behalf.
          the Member OR in a separate Demat
          account that may be opened by the Client c.        Margin with Stock Exchange
          for the purpose with the necessary                 The Client agrees that the Member may in
          Power of Attorney executed in favour of            its turn place any of the securities placed
          the Depository Participant and/or the              by him/her/it as Margin by way of
          Member. The Member may, at its own                 pledge or hypothecation or margin on his
          discretion, treat the securities lying in the      behalf with Exchanges to meet Exchange
          depository account of the Client, as               obligations, as the Member may deem fit.
          margin, where the Client has issued a              The Client authorizes the Member to do all such
          Power of Attorney in favour of Member, for         acts, deeds and things as may be necessary and
          operating the said depository account.             expedient for the above purpose.
     (ii) The Client agrees and authorizes the
          Member to determine the market value of d.         The Client is responsible for all orders, including
          securities placed as Margin after applying a       any orders that may be executed without the
          haircut that the Member deems                      required Margin in the Client's account. If the
          appropriate The Client's positions are             Client's order is executed despite a shortfall in

                                                         X                                                    47
    the Margin, the Client shall, whether or not the 29. CLOSE OUT
    Member intimates such shortfall in Margin to a. In case of Purchase
    the Client, instantaneously make up the                       In case of purchase on behalf of Client, the
    shortfall either through delivery of shares in the            Client authorizes the Member to close out the
    event of a sale or credit the required funds in the           transaction by selling the securities in case the
    Clients account via wire or personal cheque,                  Client fails to make full payment to the
    account transfer or any other mode.                           Member for the execution of the contract
                                                                  within two days of trade execution or before
e. Any reference in these terms to sale or transfer               pay-in day (as fixed by stock exchange for the
    of securities by the Member shall be deemed to
                                                                  concerned settlement period), whichever is
    include sale of the securities, which form part
                                                                  earlier, unless the Client already has an
    of the Margin, maintained by the Client with
                                                                  equivalent credit with the Member. The loss
    the Member. In exercise of the Member's right
    to sell securities as provided in these presents,             incurred in this regard, if any, will be met from
    the choice of specific securities to be sold shall            the margin money of the Client. The Client
    be that of the Member.                                        agrees to make good the shortfall, if any,
                                                                  immediately on being intimated of the shortfall
28. T R A N S A C T I O N S I N C A S H / D E R I VAT I V E S     by the Member
    SEGMENT
    In case of the Client undertaking the b. In case of sale
    transactions simultaneously in Cash and                       In case of sales on behalf of Client, the
    Derivative Segments, the Client specifically                  Client authorizes the Member to close out
    agrees:                                                       the contract by effecting purchases if the
                                                                  Client fails to deliver the securities sold with
a. That the shares received from the stock                        valid transfer documents within two days of
    exchange in the pay out of Cash segment may at                the trade execution or before delivery day (as
    discretion of the Member be transferred to the                fixed by stock exchange authorities for
    Client's Derivatives Margin Account to be                     concerned settlement period), whichever is
    utilized as margin for the Derivatives                        earlier. Cost of the transaction (i.e. closeout),
    transactions that the Client may undertake.                   will be deductible from the margin money of
                                                                  the Client. The Client agrees to make good the
b. That the Client authorizes the Member to
                                                                  shortfall, if any, immediately on being intimated
    transfer such shares purchased by the Client
                                                                  of the shortfall by the Member.
    in the Cash Segment to the Clearing Member/
    Exchange towards margin requirements for
                                                              c. Non payment of margin and other amounts:
    Client's derivative transactions as the Member
                                                                  Without prejudice to Member 's other rights
    may deem fit or expedient.
                                                                  (including the right to refer a matter to
c. The Client understands that the release of                     arbitration), Member shall be entitled to
    the shares held as aforesaid (as margin) and                  liquidate / close out all or any of the Client's
    the transfer of the same to the Clients                       positions for non-payment of margins or other
    designated demat account would be effected                    amounts, outstanding debts, etc and adjust/set
    within the time limits stipulated by the                      off/appropriate the proceeds of such
    concerned Stock Exchange/ Clearing House and                  liquidation / close out, if any, against the Client's
    in this view, the Client agrees to give instruction           liabilities / obligations. Any and all losses and
    to square off the relevant derivatives                        financial charges on account of such liquidation
    transaction (or to roll over the same) sufficiently           / closing out shall be charged to and borne by
    in advance before the settlement date for                     the Client.
    the derivatives segment.
                                                              30. CANCELLATION OF TRADE
d. The Client further agrees not to hold the a. Member shall be entitled to cancel relative
    Member responsible for the delay that may                     contract(s) with the Client in the following
    occur due to the reasons beyond the reasonable                circumstances:
    control of the Member.



48                                                        X
     (i)  When the Exchange(s) cancel a trade suo 32. SHORTAGES
          motto or due to insufficient bids or offers  It is agreed that in case of purchase of securities
          or suspension of trading due to price        by the Client, if the Member is unable to deliver
          limits or circuit breakers                   the securities on the pay-out day due to non-
    (ii) When the electronic trading systems either    receipt of the securities from the Exchange,
          at the Exchanges or in the Member's offices  then the account of the Client will be settled as
          are vulnerable to temporary disruptions or   per the rules/ norms of the Exchange.
          failures
    (iii) When due to unforeseen circumstances, 33. RECORDING OF CONVERSATION
          the Member is not able to execute the        The Client is aware that the Member may record
          desired transactions (either the Clients own the conversations between the Client or its
          transactions or transactions for enforcing   representative and the Member in any
          margins as provided in these presents) on a  mode/manner, to the extent feasible and the
          timely basis                                 Client hereby specifically permits the Member
b. The Member shall not be responsible for any         to do so. The Member may rely upon such
    losses that the Client may incur on account of     recordings as and when required to resolve
    such cancellations.                                disputes in connection with the trading
                                                       transactions.
31. TRADE CONFIRMATION
a. The Member shall send the trade confirmations 34. INVESTMENT ADVICE
    to the Client, in the form of contract note-cum-   The client understands without any ambiguity
    bill or otherwise via mail, e-mail, fax, courier,
                                                       that the Member does not have any product
    Registered AD, oral communication/SMS or
                                                       which guarantees assured return and he/she/it
    otherwise at the postal address, telephone/fax
                                                       is solely responsible for any market risk in
    nos., e-mail address intimated by the Client to
                                                       respect of transactions conducted through the
    the Member.
                                                       Member.
b.   The Client understands that it is his/her/its
                                                       35. INDEMNIFICATION
     responsibility to review the trade confirmations,
                                                           The Client hereby indemnifies and keep
     the contract notes, the bills or statements of
                                                           indemnified and holds the Member harmless
     account immediately upon their receipt. All
     information contained therein shall be binding        from and against all claims, demands,
     upon the Client, if the Client does not object in     actions, proceedings, losses, damages,
     writing to any of the contents within twenty          liabilities, charges, and/or expenses that are
     four hours of such intimation / confirmation.         occasioned or may be occasioned to the
                                                           Member directly or indirectly, relating to bad
c.   In all cases, the Member reserves the right to        delivery of shares/securities and/or third party
     determine the validity of the Client's objection      delivery, whether authorized or unauthorized
     to the transaction.                                   and fake / forged / stolen shares / securities/
                                                           transfer documents introduced or that may be
d.   The Client agrees that the Member will not be         introduced by or through the Client during the
     responsible for the non-receipt of the trade          course of its dealings/operations on the
     confirmation due to any change in the Client's        Exchange(s) and/or proof of address, identity
     address / e-mail address / telephone /fax             and other supportings/ documents provided by
     number which is not intimated to the Member           the client at the time of client registration
     in writing and/or where the communication             and/or subsequently.
     remains undelivered due to non-availability
     of the client at the given address/telephone/fax 36. DECLARATION OF CLIENT
     number or client not opening his e-mail box.      a. The Client confirms having read and understood
                                                           the terms and conditions of these presents and
e.   The Member shall have the right to refuse to          those relating to various services and products
     accept any buy or sell instructions from the          and accepts and agrees to be bound by the
     Client without assigning any reason thereof           terms and conditions including those relating
     provided that the Member shall immediately            to exculpating limiting the Member's and
     inform the Client of any such decision.               Exchange's liabilities.

                                                     X                                                  49
b.   The Client further confirms and declares that           (i)    by post,
     investments in securities carries risk and              (ii)   by registered post,
     notwithstanding any recommendation made                 (iii)  under certificate of posting,
     by the Member, the Client will take buy/ sell           (iv)   by express delivery post,
     decisions at his sole discretion after evaluating       (v)    by telegram,
     such risk and shall not hold the Member liable          (vi)   by affixing it on the door of the last known
     for any loss arising from such Purchases/ Sales.               business or residential address,
                                                             (vii) by oral communication to the party or on
37. AMENDMENT                                                       the last known telephone number or on the
    Member may from time to time amend these                        recording machine of such number,
    presents if required, for complying with any             (viii) by sending a message through trading
    change in the Rules, Regulations, Bye-laws of                   system,
    the Exchanges and /or the SEBI notifications or          (ix) Notice pasted on the notice board of the
    with the requirements of any competent                          Exchange in case change in address is not
    authority or if required under its corporate                    notified,
    policies. The Member shall intimate the same             (x) by electronic mail or fax,
    to the Client. In case the Client continues to           (xi) by hand delivery.
    deal with the Member subsequent to the
    intimation of such amendments, it shall be b.            Any communication sent by the Member to the
    deemed that the Client is agreeable to the new           Client shall be deemed to have been properly
    paragraphs. However, the Client has the                  delivered or served, even if such communication
    right to terminate these presents through                is returned to the Member as unclaimed/
    communication in writing subject to the                  refused/ undelivered, if the same is sent to the
    clearance by the Client of its financial and other       ordinary business address and/or ordinary place
    obligations under these presents.                        of residence and/or last known address of the
                                                             party, in anyone or more of the ways as
    The client also has the right to terminate any           mentioned in para (a) above.
    one or more of the optional paragraph(s)
    contained in these presents and/or intimated by 40. LIEN
    the Member subsequently by giving a notice in           The client agrees that all monies, securities or
    writing, of not less than fifteen days to that          other property that may be held by the Member
    effect, subject to review of Member-client              on the client's account shall be held subject to a
    relation by the Member, provided the Client             general lien for the discharge of the client's
    clears his/her/its financial and other obligations      obligation to the Member under this
    under these presents before termination of              agreement.
    paragraph(s) for which notice has been given by
    the client.                                         41. DISCRETION
                                                            The Member shall have the right to refuse to
38. ASSIGNMENT                                              accept any buy or sell instructions from the
    Either party to these presents shall not assign or      Client without assigning any reason thereof
    transfer all or any of its rights or obligations        provided that the Member shall immediately
    hereunder without the prior consent in writing          inform the Client of any such decision.
    of the other party.
                                                            The client authorizes the Member to use his
39. NOTICES                                                 discretion to close out any part or all of the
                                                            positions held in the clients account with the
a. All notices or communications issued under               Member for the protection of the Member. The
    these presents shall be served in any one or            client agrees to reimburse any or all such
    more or all of the following ways under (i) to (xi)     incidental expenses incurred by the Member.
    and shall be served at the ordinary business
    address and/or ordinary place of residence and 42. SHORT SALE
    /or last known address of the party in any one or       The Client hereby agrees to ensure that before
    more of the following ways:                             selling any shares, he has the same in his
                                                            possession. Any loss arising of auction
                                                            /closeout on account of shares not cleared in

50                                                       X
    Member's account shall be borne by the Client.         cash segment of the Exchange. The Client
    The Client also agrees to bearany loss arising         authorizes the Member to pass appropriate
    out of auctions due to incomplete instructions,        journal entries for the same.
    illegible instructions, unclear instructions and       The Client authorizes the Member to
    instructions not received on time.                     appropriate credits lyingin his / her / its account
                                                           on the Cash segment of the Exchanges against
43. INTERSETTLEMENT                                        debits in his / her / its account on the derivative
    The Client here by authorizes the Member to            segment of the Exchange and vice versa
    transfer shares lying in the Member's pool             through issue of cheques or passing
    account for pay-in purposes for shares                 appropriate journal entries for the same.
    purchased by the Client in previous settlements.
    In case the Client does not want the Member to b)      The Member will adjust and set off the amounts
    transfer these shares towards inter settlement         and securities payable to the Client in respect of
    from the Member 's pool account for payin              transactions done by the Client on the NSE/BSE,
    purposes, he shall inform the Member in writing        against the amounts receivable from the Client
    48 hours before payin date. In case the                in respect of the transactions entered into, by
    Member does not receive the samein writing or          the Client , on NSE/BSE as the case may be. The
    for a wrong settlement, the Member shall not           Client authorizes the Member to pass
    be responsible for loss, if any. In case of            appropriate journal entries for the same.
    dematerialized shares, the Member will be              The Client authorizes the Member to
    entitled to recover the custody charges and            appropriate credits lyingin his / her / its account
    inter settlement charges in case of subsequent         on the NSE/BSE against debits in his / her / its
    sales from the Client, if the deliveries are not       account on any NSE/BSE and vice versa through
    transferred out of the Member's demat account          issueof cheques or passing appropriate journal
    within the stipulated time. The Member will not        entries for the same.
    be responsible in case pay-in is not done in
    proper settlement.                               46.   DEMAT CHARGES
                                                           The Client authorises to debit his account for
44. STAMP DUTY                                             the various charges due to the Depository
    It is hereby specifically agreed by and between        section of the Memberfor the depository
    the Member and the client that the liability/          services which he is availing.
    responsibility for the payment of stamp duty
    (whether under relevant State Act or under 47. SMS ALERT FACILITY
    Indian Stamp Act or under any other law for the    The Client understands that the Member issues
    time being in force) and/or other statutory levies fundamental and trading research/ notes/
    on the contract notes and / or on the trades       trading calls / technical calls, particularly on
    done by the Member for and on behalf of the        companies, industry, stock markets, commodity
    client shall be solely and fully of the client     markets and economy from time to time
    only. However, It is agreed that only for          (collectively hereinafterreferredtoas "material").
    administrative convenience the Member may
    collect the same from the client and deposit       The Client agrees that the Member shall provide
    the same with the concerned stamp duty             such material through email or by access to
    authority and/or to other respective authorities   the website of the Member or through SMS or
    acting as only as pure agent of the client with    any other mode on a voluntary basis.
    out incurring/assuming any liability on it's (i.e.
    Member's) part.                                    The Client further accepts that he/she/it is/are
                                                       aware that this material provided to him/her/it is
45. SET OFF                                            only for his/her/its personal information and
a) The Memberwill adjust and set off the amounts       undertakes that the same shall not be
    and securities payable to the Client in respect of reproduced or redistributed to any other
    transactions done by the Client on the cash        person. The Client further understands that this
    segment of the Exchanges, against the amounts      material is not an offer or the solicitation of an
    receivable from the Client in respect of the       offer to buy any security.
    transactions entered into, by the Client , on the



                                                       X                                                   51
     The Client accepts that by sending this material          way arising from the use of this material in any
     on his/her/its request, the Member or any of its          manner. The Client is aware that the
     officers, directors, personnel and employees              investments discussed in this material may not
     shall not be liable for any loss, damage of any           be suitable for all investors and therefore,
     nature, including but not limited to direct,              before dealing and/or transacting in any of the
     indirect, punitive, special, exemplary,                   products referred to in this material, make
     consequential, as also any loss of profit in any          his/her/its own investigation, due diligence seek
     way arising from the use of this material in any          appropriate professional advice.
     manner. The Client is aware that the
     investments discussed in this material may not            The Client alone shall be fully responsible/ liable
     be suitable for all investors and therefore,              for his/her/its investments / disinvestments on
     before dealing and/or transacting in any of the           the basis of this material. The Client further
     products referred to in this material, make               agrees that the Member may discontinue
     his/her/its own investigation, due diligence seek         providing such material to him/her/it and that it
     appropriate professional advice.                          would have no responsibility to update any
                                                               information provided to him/her/it nor does the
     The Client alone shall be fully responsible/ liable       Member represent that the information
     for his/her/its investments / disinvestments on           provided in the material is complete.
     the basis of this material. The Client further
     agrees that the Member may discontinue                    The Client further agrees that by providing such
     providing such material to him/her/it and that it         material the Member is not acting as his/her/its
     would have no responsibility to update any                portfolio or financial adviser nor does it
     information provided to him/her/it nor does               assumes any fiduciary duties.
     the Member represent that the information
     provided in the material is complete.               48.   LEDGER STATEMENTS
                                                               It is hereby agreed between the client and the
     The Client further agrees that by providing such          Member that the ledger statements in respect
     material the Member is not acting as his/her/its          of transactions entered into at the BSE and NSE
     portfolio or financial adviser nor does it                cash segments may be combined for the
     assumes any fiduciary duties.                             purpose of convenience of the Member and the
                                                               client and the payments received and paid by
     The Client agrees that the Member shall                   the Member will be appropriated on a First-In-
     provide such material through email or by                 first-out basis The client agrees to download his
     access to the website of the Member or                    account statements, fromMember's website
     through SMS or any other mode on a voluntary              www.tatasecurities.com on a weekly as well as
     basis.                                                    monthly basis as andwhen such facility is
                                                               given by the Member. Any discrepancy in the
     The Client further accepts that he/she/it is/are          Account Statement shall be brought to the
     aware that this material provided to him/her/it is        notice of Member by the client in writing within
     only for his/her/its personal information and             seven working days of receipt thereof.
     undertakes that the same shall not be
     reproduced or redistributed to any other 49. ARRANGEMENT WITH RELATIONSHIP BANKS
     person. The Client further understands that this   The Client understands that the Member has
     material is not an offer or the solicitation of an relationship with one or more banks (“the
     offer to buy any security.                         relationship banks”). The Member 's Internet
                                                        trading website has a payment window
     The Client accepts that by sending this material   through a link to the website of the Relationship
     on his/her/its request, the Member or any of its   bank, which provides the facility. In such a case,
     officers, directors, personnel and employees       the Client would make the payment for
     shall not be liable for any loss, damage of any    securities purchased by him/her/it by crediting
     nature, including but not limited to direct,       the purchase amount (alongwith the indicated
     indirect, punitive, special, exemplary,            brokerage amount) directly to the account of
     consequential, as also any loss of profit in any   the Memberwith the Relationship Bank by




52                                                       X
      means of a fund transfer. Similarly, in the case where the Client specifically request to transfer the sale
      proceeds arising from the sale of securities, the Member would credit the account of the Client with
      the Relationship Bank by means of a fund transfer. The Member expressly states that the payment
      gateway mechanism is a service offered by the Banks with whom the Member has established
      relations for facilitating the transfer of funds between the Client's account and the Member's
      account The Member expressly excludes liability for consequential loss or damage or loss of profit,
      business, revenue, goodwill or anticipated savings which may arise in respect of (i) the payment
      gateway offered by such Banks (ii) the payment mechanism.

50. FOREIGN JURISDICTION
    This service does not constitute an offer to sell or a solicitation of an offer to buy any shares, securities or
    other instruments to any person in any jurisdiction where it is unlawful to make such an offer or
    solicitation. This service is not intended to be any form of an investment advertisement, investment
    advice or investment information and has not been registered under any securities law of any
    foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be
    lawful to offer such a service. Further, no information on the Company's website is to be construed as a
    representation with respect to shares, securities or other investments regarding the legality of an
    investment therein under the respective applicable investment or similar laws or regulations of any
    person or entity accessing the website




 Client                                                                For Tata Securities Limited



  X
 Signature                                                             Authorised Signatory


 Name                                                                  Name


 Witness 1                                                             Witness 1


 Witness 2                                                             Witness 2




                                                                                                                 53
                                         AUTHORISATION FOR PLACING ORDERS
Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.

Dear Sir(s),

Ref: Client Code - _________________

This has reference to the abovementioned trading account maintained with you. In this connection, for the
sake of administrative convenience, I/We hereby authorize Mr/Ms _________________________________, to
place, modify and cancel order on my/our behalf with TSL for purchase and/or sale of securities on any
segment, through the trading platform of the stock exchanges mentioned in the client registration form
with you and the designated dealer of the branch assigned to me for availing the broking services.

I/We hereby agree that the instructions given by the aforesaid representative shall be deemed to have been
given by me /us and shall be conclusive and binding on me / us and TSL may also exercise the powers and
authorities conferred herein to meet my / our obligations under the Member Client agreement entered into
with TSL.

I/We further agree to honor all the financial liability and obligations, either securities or funds arising out of
the action taken by TSL upon the instruction received from the aforesaid representative for execution of
orders on my / our behalf and also dissemination of confidential information relating to my account,
securities, transaction and other financial information to him / her.

Notwithstanding the above authorisation, please note the following:
i) confirmation of the trades executed should continue to be communicated to me/us directly and not to
the aforesaid representative and similarly the information relating to the outstanding position, the position
of pay in and pay out of securities and funds and margin position, amounts receivable and payable and also
the margins thereof and securities received and delivered whether presently or in future should also be
communicated to me/us directly.
ii) the Contract Notes, bills, statements and other information and documents should be delivered to me/us
either in physical form or by email on the email Id provided by me / us in the client registration form with you
relating to trades executed on my/our behalf.

This authorisation shall continue to remain in force until I/We shall have expressly revoked it by a letter in
writing delivered to you at the above address.




---------------------------------------------------------------
Accepted: Signature of authorised representative




54
                               DETAILS OF AUTHORISED REPRESENTATIVE


 Mr/Ms _________________________________________

 Address: _____________________________________________________________________________________

 _____________________________________________________________________________________________

 Telephone No: Landline:_____________________Mobile:____________________________________________

 Email Id: _____________________________________________________________________________________



 Self attested copy of PAN Card and documents for proof of address of authorised representative.




                                                                           X

 Signature of Authorised representative                                    Signature of the Account holder



In the presence of




Signature
Witness 1: Name:

Address:




Signature
Witness 2: Name:

Address:




                                                                                                     55
                                   RUNNING ACCOUNT AUTHORISATION


Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir (s)

Ref.: Client Code __________________

I/We have registered as a client with TATA SECURITIES LTD, (herein referred to as “TSL”) for trading/ dealing in
securities on Bombay Stock Exchange Ltd. (BSE) and/or The National Stock Exchange of India Limited (NSE)
(herein referred to as “the Exchanges”)

In this connection for facilitating smooth operations in the aforesaid account and for administrative
convenience, I/We authorize TSL
    (i)    To maintain a running account, instead of settlement to settlement clearance of funds and
           securities due to me /us.
    (ii)   The pay out of funds / securities may be retained by TSL. Actual settlement of funds and securities
           shall be done by TSL at least once in a calendar (Month / Quarter)*_______
    (iii)  Further, in case I / We have any outstanding obligation on the settlement date, TSL may retain the
           requisite securities / funds towards such obligations and may also retain the funds expected to be
           required to meet margin obligations for the next 5 trading days, calculated in the manner
           specified by the stock exchanges.
    (iv)   I/We will renew this authorization by 30th of April, in every financial year.
    (v)    This authorization can be revoked by me/us by giving a prior notice of at least 15 days in writing to
           you and shall come into force after the hard copy of such letter of revocation is received at the
           Corporate office of TSL.
    (vi)   I/We will bring any dispute arising from the statement of funds or securities, so made to the
           notice of TSL within 7 working days from the date of receipt of funds / securities statement, as the
           case may be.
    (vii)  I / We confirm that I/We further note that such periodic settlement of running account shall not be
           necessary (a) If I/We have availed margin trading facility as per SEBI Circular and (b) for funds
           deposited by me / us with TSL towards collaterals / Margin in the form of bank guarantee (BG)
           Fixed Deposits (FD).

     *to be specified by the client in his/her own handwriting

        Thanking you,

        Yours faithfully,

        X
        Sign:_______________________


        Name:_______________________




56
                            AUTHORISATION FOR ELECTRONIC CONTRACT NOTES


Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

Ref.: Client Code __________________

I/we refer to the trading account opened with you. I/We am/are aware that contract notes, bills, ledgers,
transaction statement (statement of funds/securities), report, letter, circulars etc. can be received through
electronic mode i.e. email. In this regard I/we agree for the following:

1.      To receive contract notes, bills, ledgers, transaction statement (statement of funds/securities), report,
        letter, circulars etc. in electronic form through e-mail id provided by me/us to Tata Securities Ltd (TSL)
        in relation to trades/transaction done on the Exchanges through TSL. My E-mail id are as follows :

Default E-mail id -

Alternate E-mail Id –

2.      Contract notes, bills, ledgers, transaction statement (statement of funds/securities), report, letter,
        circulars etc. sent by TSL from time to time to my/our email id shall be deemed to have been delivered
        to me/us and it shall be presumed that the same is in order unless any discrepancies are given in
        writing to TSL within 24 hours of the issuance of the same. Non-verification or non accessing the
        contract notes on regular basis shall not be the basis for disputing the contract note at any time. I/we
        confirm that non-receipt of bounced mail notification by the TSL shall amount to delivery of the
        contract note at the above mentioned e-mail ID.

3.       The above service may require use of password/digital signature and I/we will be responsible for
        confidentiality and proper use at all time of password/digital signature for all transactions initiated
        through the service.

4.      I/We will communicate any change in the email id in writing to TSL and the same shall take effect on
        the date of receipt by the Corporate Office of TSL, at Mumbai.



        Thanking you,

        Yours faithfully,

        X
        Sign:_______________________


        Name:_______________________




                                                                                                               57
                       DECLARATION TO BE GIVEN BY SOLE PROPRIETORSHIP FIRM


Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

Ref. : Client Code ________________________________________

I refer to the trading account opened with you in the name of _______________________________________
___________________________________________________________ and declare and authorise you as under.

I recognise that a beneficiary account cannot be opened with a depository participant in the name of a sole
proprietorship firm as per Regulations. To facilitate the operation of the above trading account with you
and for the purpose of completing the share transfer obligations pursuant to the trading operation,
I authorise you to recognise the beneficiary account No __________________________ with depository
participant __________________________________________ opened in the name of the undersigned who is
the sole proprietor of ___________________________________________________________ the firm

I agree that the obligation for shares purchased and/ or sold by the firm will be handled and completed
through transfers to/ from the above mentioned account. I recognise and accept transfers made by you to
the beneficiary account as complete discharge of obligations by you in respect of trades executed in the
above trading account of the firm.

Signature (Please sign with stamp of the firm)

Further, I, the undersigned, am the sole proprietor of the firm and am solely responsible for the liabilities
thereof. I shall advise you in writing of any change that takes place in the constitution of the firm and I will be
personally liable to you for all the obligations that the firm may incur in the course of dealings with you and
undertake to personally discharge such liabilities.

Yours truly,




Signature (Please sign with stamp of the firm)




58
                              DECLARATION TO BE GIVEN BY PARTNERSHIP FIRM


Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

Ref.: Client Code ___________________________________________________

I refer to the trading account opened with you in the name of ____________________________________
_______________________________________________________ and declare and recognize you as under.

We recognize that a beneficiary account cannot be opened with a depository participant in the name of a
Partnership firm as per Regulations. To facilitate the operation of the above trading account with you and for
the purpose of completing the securities transfer obligations pursuant to the trading operations, we
authorise you to recognize the beneficiary Account No. __________________________________ with
depository participant _______________________________________________________________ opened as a
joint account in the names of the partners of the firm.

We agree that the obligations for shares purchased and/or sold by the firm will be handled and completed
through transfers to/from the above- mentioned account. We recognize and accept transfers made by you
to the beneficiary account as complete discharge of obligations by you in respect of trades executed in the
above trading account of the firm.

We hereby authorize, _____________________________________________________ partner in the firm to
execute/sign and submit such documents, agreements, deeds etc. as may be necessary to enter into the
agreement and engage in business with Tata Securities Ltd. And to sell, purchase, transfer, endorse,
negotiate and do other things that may be necessary to engage in business on behalf of the partnership and
to sign the authority letter for adjustment of balances in family accounts.

               Name of Partners (in block letters)                    Signatures




                                                                                                           59
                 FORMAT OF BOARD RESOLUTION IN CASE OF CORPORATES / TRUSTS
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF

DIRECTORS/ TRUSTEES / OF ______________________________________________________________________

________________________________________________________________________________Ltd./ TRUST AND

HAVING IT'S REGISTERED OFFICE AT _______________________________________________________________

______________________________________________________________________________________________

HELD ON _________________ DAY OF __________________________ 20            AT __________ A.M/P.M

“RESOLVED THAT the Company / Trust be registered as CLIENT with Tata Securities Ltd. Member of the
Bombay Stock Exchange Limited (BSE) /National Stock Exchange of India Ltd (NSE) for the purpose of dealing
in equities, derivatives, debentures, debt & other products and the said Member be and is hereby authorised
to honour instruction, oral or written, given on behalf of the Company / Trust by any of the under noted
authorised signatories:-

  Sr. No.                   Name                                                   Designation

     1.
     2.
     3.
who are authorised to sell, purchase, transfer, endorse, negotiate and/or otherwise deal with/through deal
through Tata Securities Ltd. on behalf of the Company/Trust.”

“RESOLVED FURTHER THAT Mr. ___________________________________________________________
and/or Mr. _______________________________________________________ , Directors / Trustees of the
Company / Trust be and are hereby authorised to sign, execute and submit such applications, undertakings,
agreements and other required documents, writings and deeds as may deemed necessary or expedient to
give effect to this resolution.”

“ RESOLVED FURTHER THAT, the Common Seal of the Company be affixed, wherever necessary, in the
presence of any Directors or of any one Director and Company Secretary, who shall sign the same in token of
their presence.

For ___________________________________________________ Ltd.
Chairman/Company Secretary/All Trustees



Specimen Signature of the Authorised Persons

  Sr. No.                   Name                                            Specimen Signatures

     1.
     2.
     3.
The above signatures should be attested by the person signing the resolution for account opening on
behalf of the Company/Trust.
60
                               CONFIRMATION TO DO TRADES AS CLIENTS


Date:

TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

Ref.: Client Code________________________________________________________________________


I/We hereby confirm that I/We shall do all the trades as my/our own trades as your client and I/we will not do
trades through you acting on behalf of my/our clients as sub broker or otherwise in any manner. I/We hereby
confirm that I/we are not a employee of any other member of Stock Exchanges.



Thanking you,

Yours faithfully,



X
Sign:_______________________


Name:_______________________




                                                                                                           61
                     CONSENT LETTER FOR AVAILING MFSS/BSE StAR MF FACILITY


Date:

To,
TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

Sub:    Mutual Fund Service System (MFSS)/BSE StAR MF facility

I/We _____________________________________________ 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 of National Stock Exchange of India Ltd ( NSE )
and/or Bombay Stock Exchange Limited(BSE).

I/We am/are interested in availing the MFSS/BSE StAR facility of the NSE and/or BSE for the purpose of
dealing in the units of Mutual Funds Schemes permitted to be dealt with on the MFSS and /or BSE StAR MF of
the Exchange.

For the purpose of availing the MFSS/BSE StAR MF facility, I/we state that Know Your Client details as
submitted by me/us for the stock broking may be considered for the purpose of MFSS and/or BSE StAR MF
and I/we further confirm that the details contained in the same remain unchanged as on date.

I/We are willing to abide by the terms and conditions as mentioned in the Circular dated December 2, 2009
and as may be specified by the Exchange 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 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 MFSS and/or BSE StAR MF.


Thanking you,

Yours faithfully,


X
Sign:_______________________


Name:_______________________




62
                         AUTHORISATION LETTER FOR SHARING INFORMATION


Date:

To,
TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.



Dear Sir(s),

                            Sub : Authorisation for sharing information to third parties

I/We _____________________________________________________ am/are registered as your client with Client
Code No. _____________________________ and have executed the Member-Client Agreement for the
purpose of trading on the National Stock Exchange of India Ltd ( NSE ) and/or Bombay Stock Exchange
Limited(BSE).

I hereby authorize Tata Securities Limited( TSL ) to share the information provided in the Account Opening
Form and/or the Member-Client Agreement or any other information arising out of my being registered as a
Client with TSL with Tata Capital Limited and/or its Group Companies.




Thanking you,

Yours faithfully,



X
Sign:_______________________


Name:_______________________




                                                                                                       63
                        WAIVER OF DISCLAIMER CLAUSE FOR TECHNICAL CALLS


Date:

To,
TATA SECURITIES LTD.
One Forbes, Dr V B Gandhi Marg,
Fort, Mumbai – 400 001.




Dear Sir(s),

Sub: Request for sending technical calls by SMS to my mobile no. _________________________________/
        by email to my/our email id_________________________________________________________________

I/We have registered as a client of Tata Securities Limited with the aforesaid client code. I /We hereby request
you to send me / us the technical calls through SMS on my cell number mentioned above or by email on my
designated email id. I/We have noted that incorporation of the standard disclaimer clause by Tata
Securities Ltd. will obstruct/delay the smooth transmission of the SMS message content / email and
also put me / us into inconvenience. Accordingly, I/We hereby request you not to include any disclaimer
clause and I /We declare that I/We will be bound by the said clause, which I/We have duly taken note of. I/We
hereby agree and voluntarily waive the inclusion of the disclaimer (text mentioned overleaf) and I/We shall
treat the same as part and parcel of the SMS message / email to be sent by you without such disclaimer at
my/our request.



Thanking you,

Yours faithfully,



X
Sign:_______________________


Name:_______________________




64
                                                Disclaimer Clause


1.    Short-term trading on the basis of technical calls is a high risk and skill oriented venture and may result
      in huge losses also. Traders doing so are doing at their own risk. We are not responsible for any
      damages. For any buy/sell position, specific stop loss should be maintained.
2.     Mostly it is not advisable to buy/sell a stock if it touches the target price first and then comes within
      recommended range of buy/sell.
3.    Try to book partial profit at the first target & hold remaining position for the second target.
4.    For Short term call stop loss is maintained on closing basis.


DISCLAIMER
This communication is for the personal information of the authorised recipient and is provided for assistance
only, and is not intended to be, and must not be taken as the basis for an investment decision or considered
as an investment or financial advice nor should this communication be construed as an advice to buy or sell
or as a solicitation to buy or sell the securities if any referred to herein. The intent of this communication is not
recommendatory in nature. This communication has been prepared for the general use of the clients of the
Tata Securities Limited (TSL) and must not be copied, either in whole or in part, or distributed or redistributed
to any other person in any form. If you are not the intended recipient you must not use or disclose this
communication in any way. Though disseminated to all the customers simultaneously, not all customers may
receive this report at the same time. TSL will not treat recipients as customers by virtue of their receiving this
report. Neither this communication nor any copy of it may be taken or transmitted into the United States (to
US Persons), Canada or Japan or distributed, directly or indirectly, in the United States or Canada or
distributed, or redistributed in Japan to any residents thereof. The distribution of this communication in
other jurisdictions may be restricted by applicable law in the relevant jurisdictions and persons into whose
possession this document comes should inform themselves about and observe any such restrictions. In
preparing this communication, the investment objectives, financial situation and particular needs of the
recipient have not taken into account. This communication is based upon information obtained from
sources believed to be reliable, but we do not make any representation or warranty that it is accurate,
complete or up to date and it should not be relied upon as such.
It is may be noted that none of the research analysts or any of the employees of TSL are associated in
preparation of this communication. This communication is based upon information obtained from sources
believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up
to date and it should not be relied upon as such. Neither TSL nor its directors, employees, agents,
representatives or any of its affiliates shall be liable for any damages whether direct or indirect, incidental,
special or consequential including lost revenue or lost profits that may arise from or in connection with the
use of the information contained in this report. The recipients of this communication should rely on their
own investigations.
This information is subject to change without any prior notice. TSL reserves at its absolute discretion the right
to make or refrain from making modifications and alterations to this statement from time to time. Before
making an investment decision on the basis of this communication, the recipient needs to consider, with or
without the assistance of an adviser, whether the advice is appropriate in light of their particular investment
needs, objectives and financial circumstances. There are risks involved in securities trading. The price of
securities can and does fluctuate, and an individual security may even become valueless. International
investors are reminded of the additional risks inherent in international investments, such as currency
fluctuations and international stock market or economic conditions, which may adversely affect the value of
the investment.




                                                                                                                  65
                                 FOR OFFICE USE ONLY


                 At Branch                                        At H.O.

Particulars     Name & Emp. ID     Signature   Particulars     Name & Emp. ID   Signature

Received On :                                  Received On :




Scrutinized                                    Verified
by :                                           by :




Data                                           Data
Punched by :                                   Authorised
                                               by :



Dispatched
on :
       SECURITIES LIMITED
     REGISTERED OFFICE
One Forbes, Dr V B Gandhi Marg,
   Fort, Mumbai - 400 001.

				
DOCUMENT INFO
Description: Authorisation Letter to Bank for Account Opening document sample