Terms & Conditions
Client should maintain a margin of 25% of his net position at all times (i.e Purchases minus Sales )

On termination of settlement period, net outstanding position  is drawn with regard to that settlement and the other running settlements. If purchase exceed the margin on other running settlement the balance payment should be made within next 48 hours  by which time deliveries for share sold during the settlement also should  be  handed over. If sales are more than purchase net amount due to client shall be paid after pay out has been declared by the respective stock exchange i.e. on the next day for Delhi Exchange and after three days for Bombay Stock Exchange and National Stock Exchange.     


For A Group Shares (Delhi & Bombay)

As the pay in by Stock Exchange for A group Shares is a day or two day prior to the delivery client has to make the payment to us two days before the pay in.  


Delivery  of Shares Sold

Share sold must be delivered to us with in two days of the end of settlement in which the shares have been sold.

Brokerage
   Rates of Brokerage inclusive of Service Tax chargeable shall be as follow:
Stock Exchange                            Brokerage Rate                                      Minimum Charges
NSE                                               2.00% + Service Tax                                  Rs.0.30 
BSE                                                2.50% + Service Tax                                  Rs.0.50
BSE (ODD LOTS)                         3.50% + Service Tax                                  Rs.1.00
DSE                                                2.00% + Service Tax                                  Rs.0.30
DSE (ODD LOTS)                         2.50% + Service Tax                                  Rs.0.50

Bad Delivery

Any bad delivery will be immediately covered by purchase of fresh shares from the market at the prevailing market price on Seller's account. Cost of purchase will be recovered from the seller.   

Default

In case of payment default or non rectification of bad deliveries by the Sellers or non payment of auction/other dues. consequential losses shall be to the account of the client.


Specific Condition For Transaction On National Stock Exchange

NSE follows a very stringent  delivery schedule in as much as all Share sold during the settlement  (Wednesday to Tuesday) have to be delivered to Bombay on the following  Monday. No carry over is permitted. Any short delivery on Monday is put on Auction on Wednesday and the loss on account of auction and penalty. If any imposed by NSE is to be borne by the seller.

Similarly any bad delivery is to be good within 48 hours at Bombay failing which the Share under bad delivery is made good by auction at Seller's cost. As is not obviously possible to make good a bad delivery at Bombay within 48 hours any bad delivery will end up being made good by auction on Seller's account.

In view of above it is essential that all sale orders are accompanied by Share scrip with duly completed and valid share transfer deeds. It is to be understood that any loss or recovery that is on the above account will have to be recovered from the seller.

Delivery of all sales transaction must reach us by Thursday as we have to courier them to Bombay after processing by Friday . Courier charges for late deliveries will have to be borne by seller.

Buy Orders
Payment for share purchased in each settlement (Wednesday to Tuesday) is to be remitted by Friday to Bombay as our clearing account is automatically debited by the bank under instructions from NSE on Monday where upon the Share bought are delivered to us at Bombay on Wednesday.

NSE does not check the delivery received from Members as to defects. The purchasing members are expected to check the delivery share to NSE at Bombay within 48 hours i.e. by Friday.

Any shortfall in the clearing bank account entails penalty points and penal interest @0.15% per day of default.           

Purchaser should pay us the estimated cost of his order at the time of placing the order. The total cost of the settlement is payable on Tuesday.

Sell Orders
Delivery of shares sold should be handed over to us within two days of close of the settlement
along with share transfer deeds duly executed.  


Important


To avoid any eventuality which may arise due to the bad delivery from market the Share purchased on NSE should be sold only on NSE till such time these are not transferred in your name. Similarly the Share purchased on NSE should be sold only on NSE till such time these are not transferred in your name. Similarly the Share purchased on DSE should be sold only on DSE unless these have got transferred in your name.

Delivery Of  DEMAT Shares

A lot of Share now trade in the compulsory DEMAT segment. We advise all our client to open DEMAT accounts immediately.

For all DEMAT share sold client must make sure that they issue the necessary instruction to their depository participants (DP's) to transfer share into our pool Account by Wednesday for Share sold in the compulsory DEMAT segment. For all share sold in the optional DEMAT segment DEMAT delivery has to be immediate i.e. share should be transferred into our account the same day the share are sold.

For all DEMAT shares bought the same would be transferred to client DEMAT account immediately upon receipt from the clearing corporation. Client must give us instructions in writing about their Account number and their DP's.

Currently our DP is Infrastructure Leasing And Financial Services Limited (IL&FS). DP ID-IN 300095 and our Pool Account No: is 10001138.    
  

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