Terms and conditions
Vajraaditya
Ventures
This page contains important
information regarding the terms and conditions which apply to your trading and
demant account with Vajraaditya Ventures,. and Vajraaditya Ventures.
Vajraaditya Ventures, being a Trading Member of NSE and BSE, registered with
Securities & Exchange Board of India ("SEBI") and having
Registration No. INZ000174423 for Cash/Derivatives/Currency Derivatives
segments of NSE. Access to your account and the usage of your account is
subject to your compliance with all the terms and conditions set forth herein,
read along with all documents, including but not limited to; applications forms
and undertakings, signed by you during account opening. Please read this page
carefully and retain it for future reference.
The website is owned, operated and
maintained by VAJRAADITYA VENTURES, a partnership firm duly registered under
the Indian Partnership Act, 1932, and having their Registered Offices Vajraaditya Ventures, No.2C, Bhagath Street,
Bharathipuram,
Pondicherry - 605013.
Please note that the information
contained herein is subject to change without notice.
General terms and conditions
Before availing of online trading services, the Client shall complete
the registration process as may be prescribed from time to time. The Client
shall follow the instruction given in the website for registering himself as a
client.
The Client agrees that all investment and disinvestment decisions are
based on the Client's own evaluation of financial circumstances and investment
objectives. This extends to any decisions made by the Client on the basis of
any information that may be made available on the web site of VAJRAADITYA
VENTURES. The Client will not hold nor seek to hold VAJRAADITYA VENTURES or any
of its officers, directors, partners, employees, agents, subsidiaries,
affiliates or business associates liable for any trading losses, cost of damage
incurred by the Client consequent upon relying on investment information,
research opinions or advice or any other material/information whatsoever on the
web site, literature, brochure issued by VAJRAADITYA VENTURES or any other
agency appointed/authorised by VAJRAADITYA VENTURES. The Client should seek
independent professional advice regarding the suitability of any investment
decisions. The Client also acknowledges that employees of VAJRAADITYA VENTURES
are not authorized to give any such advice and that the Client will not solicit
or rely upon any such advice from VAJRAADITYA VENTURES or any of its employees.
Security
precaution and password
VAJRAADITYA VENTURES will provide the
client with a username and a trading password which will enable him to avail of
the facilities of Online Trading through the VAJRAADITYA VENTURES website, over
the telephone or in any such other manner as may be permitted by VAJRAADITYA
VENTURES for availing of the services. VAJRAADITYA VENTURES may also provide
the client with the username and password for accessing its back-office for
various reports, etc. All terms regarding the use, reset and modification of
such password shall be governed by information on the website.
The Client is aware that VAJRAADITYA
VENTURES’s Online Trading System itself generates the initial password and that
VAJRAADITYA VENTURES is aware of. The Client agrees and undertakes to immediately
change his initial password upon receipt thereof. The Client is aware that
subsequent passwords are not known or available to VAJRAADITYA VENTURES.
The Client shall be responsible for
keeping the Username and Password confidential and secure and shall be solely
responsible for all orders entered and transactions done by any person
whosoever through VAJRAADITYA VENTURES’s Online Trading System using the
Client’s Username and/or Password whether or not such person was authorised to
do so.
The Client shall immediately inform
VAJRAADITYA VENTURES of any unauthorised use of the Client’s Username or
Password with full details of such unauthorised use including the date of such
unauthorised use, the manner in which it was unauthorisedly used, the transactions
effected pursuant to such unauthorised use, etc.
The Client acknowledges that he is
fully aware of and understands the risks associated with availing of online
trading services through internet including the risk of misuse and unauthorised
use of his Username and/or Password by a third party and the risk of a person
hacking into the Client’s account on VAJRAADITYA VENTURES’s Online Trading
System and unauthorisedly routing orders on behalf of the Client through the
System. The Client agrees that he shall be fully liable and responsible for any
and all unauthorised use and misuse of his Password and/or Username and also
for any and all acts done by any person through VAJRAADITYA VENTURES’s Online
Trading System on the Client’s Username in any manner whatsoever.
Without prejudice to the provisions
mentioned herein above, the Client shall immediately notify VAJRAADITYA
VENTURES in writing with full details if: he discovers or suspects unauthorised
access through his Username, Password or Account, he notices discrepancies that
might be attributable to unauthorised access, he forgets his password or he
discovers a security flaw in VAJRAADITYA VENTURES’s Online Trading System.
Orders
All orders for purchase, sale or other dealings in securities and other
instructions routed through the VAJRAADITYA VENTURES’s Online Trading System
via the Client’s Username shall be deemed to have been given by the Client.
The client agrees to provide information relating to customer user
identification number, and such other information as may be required while
placing orders on the telephone to determine the identity of the client.
The orders and instructions and all contracts and transactions entered
into pursuant thereto and the settlement thereof will be in accordance with the
Exchange Provisions.
VAJRAADITYA VENTURES may from time to time impose and vary limits on the
orders which the Client can place through VAJRAADITYA VENTURES’s online trading
System (including exposure limits, turnover limits, limits as to the number,
value and/or kind of securities in respect of which orders can be placed, the
companies in respect of whose securities orders can be placed, etc.). The
Client is aware and agrees that VAJRAADITYA VENTURES may need to vary or reduce
the limits or impose new limits urgently on the basis of the VAJRAADITYA
VENTURES’s risk perception and other factors considered relevant by VAJRAADITYA
VENTURES, and VAJRAADITYA VENTURES may be unable to inform the Client of such
variation, reduction or imposition in advance. The Client agrees that
VAJRAADITYA VENTURES shall not be responsible for such variation, reduction or
imposition or the Client’s inability to route any order through VAJRAADITYA
VENTURES’s Online Trading System on account of any such variation, reduction or
imposition of limits. The Client understands and agrees that VAJRAADITYA
VENTURES may at any time, at its sole discretion and without prior notice,
prohibit or restrict the Client’s ability to place orders or trade in
securities through VAJRAADITYA VENTURES.
Though orders will generally be routed to the Exchange’s computer
systems within a few seconds from the time the order is placed by the Client on
VAJRAADITYA VENTURES’s Online Trading System, VAJRAADITYA VENTURES shall not be
liable for any delay in the execution of any order or for any resultant loss on
account of the delay.
The client agrees VAJRAADITYA VENTURES may impose scripwise surveillance
or such other conditions as to scripwise limits, etc. The client also
understands that VAJRAADITYA VENTURES may impose various surveillances which
may differ from client to client on the basis of the VAJRAADITYA VENTURES’s
risk perception and other factors considered relevant by VAJRAADITYA VENTURES.
In case of a market order, the Client agrees that he will receive the
price at which his order is executed by the exchange’s computer system; and
such price may be different from the price at which the security is trading
when his order is entered into VAJRAADITYA VENTURES’s Online Trading System.
Online
account opening
Online account opening using AADHAAR
is currently available only for residents of India opening accounts for an
individual (HUFs, corporate bodies, NRIs, etc., not eligible).
When opening an account online using
AADHAAR, data will be fetched from the KYC database and cannot be edited.
Pick up of required documents related
to the account opening procedure is subject to availability of our
representatives, given at any particular time and location.
Trading, settlement and accounts
The client agrees that all orders placed through the website shall be
forwarded by the system to the Exchange. All orders placed otherwise than
through the website shall be forwarded by the system to Exchange terminals or
any other order execution mechanism at the discretion of VAJRAADITYA VENTURES.
In the event that the order is placed during the trading hours, it shall be
routed to and executed on the market system.
Online confirmation will be sent to the client by electronic mail or SMS
after the execution of the order, trade and this shall be deemed to be valid
delivery thereof by VAJRAADITYA VENTURES. It shall be the responsibility of the
client to review immediately upon receipt, whether delivered to him by
electronic mail or any other electronic means all confirmations of order, transactions,
or cancellations. It shall be the responsibility of the client to follow up
with VAJRAADITYA VENTURES for all such confirmations that are not received by
him within a stipulated time.
The client shall bring any errors in any report, confirmation or
contract note of executed trades (including execution prices, scripts or
quantities) to VAJRAADITYA VENTURES’s notice in writing by an electronic mail
or fax within twenty four hours of receipt of the concerned report,
confirmation or contract note. Any other discrepancy in the confirmation or
account shall be notified by the client to VAJRAADITYA VENTURES in writing via
electronic mail or fax within twenty four hours from the time of receipt of the
first notice. In all cases, VAJRAADITYA VENTURES shall have a right to accept
or reject the client’s objection.
There may be a delay in VAJRAADITYA VENTURES receiving the reports of
transaction, status, from the respective exchanges or other persons in respect
of or in connection with which VAJRAADITYA VENTURES has entered into contracts
or transactions on behalf of the clients. Accordingly VAJRAADITYA VENTURES may
forward to the client late reports in respect of such transactions that were
previously unreported to him as been expired, cancelled or executed. The client
shall not hold VAJRAADITYA VENTURES responsible for any losses suffered by the
client on account of any late reports, statements or any errors in the report /
statements computed by or received from any exchange.
The client agrees that if, for any circumstance or for any reason, the
markets close before the acceptance of the Order by the Exchange, the order may
be rejected. The client agrees further, that VAJRAADITYA VENTURES may reject
Orders if the same are rejected by the Exchange for any reason. In case of
rejection of an order due to rejection by the Exchange, the client agrees that
the order shall remain declined and shall not be re-processed, in any event.
VAJRAADITYA VENTURES may, at its sole discretion, reject any order
placed on the website or in any other manner due to any reason, including but
not limited to the non-availability of funds in the trading account of the
client, non-availability of securities in the Demat account of the client with
a designated depository participant, insufficiency of margin amount if the
client opts for margin trading, suspension of scrip- specific trading
activities by or on an Exchange and the applicability of circuit breaker to a
scrip in which orders are placed.
The client agrees that, if the order is not accepted on the website for
any reason, VAJRAADITYA VENTURES shall have the right to treat the order as
having lapsed.
The client is aware that the electronic trading systems either at the
Exchange or in the office of VAJRAADITYA VENTURES offices are vulnerable to
temporary disruptions, breakdowns or failures. In the event of non- execution
of trade orders or trade cancellation due to the happening of such events or
vulnerabilities due to failure / disruption / breakdown of system or link,
VAJRAADITYA VENTURES shall be entitled to cancel relative request/(s) with the
Client and shall not be liable to execute the desired transactions of the
client’s. In such event, VAJRAADITYA VENTURES does not accept responsibility
for any losses incurred / that may be incurred by the Client due to such
eventualities which are beyond the control of VAJRAADITYA VENTURES.
VAJRAADITYA VENTURES may at its sole discretion permit execution of
orders in respect of securities, irrespective of the amount in the balance of
the account of the client.
The client agrees to abide with and be bound by all the rules,
regulations and bye-laws of the Exchange as are in force pertaining to the
transactions on his behalf carried out by VAJRAADITYA VENTURES and the orders
placed by him on the website or any other manner.
VAJRAADITYA VENTURES shall not be responsible for any order, that is
made by the Client by mistake and every order that is entered by the Client
through the use of the allotted user name and the security code(s) shall be
deemed to be a valid order for which the Client shall be fully responsible.
Cancellation or modification of an order pursuant to the client’s
request in that behalf is not guaranteed. The order will be cancelled or
modified only if the client’s request for cancellation and modification is
received and the order is successfully cancelled or modified before it is
executed. Market orders are subject to immediate execution wherever possible.
The client shall not be entitled to presume an order having been
executed, cancelled or modified until a confirmation from VAJRAADITYA VENTURES
is received by the client. However, due to technical other factors the
confirmation may not be immediately transmitted to or received by the client
and such a delay shall not entitle the client to presume that the order has not
been executed cancelled or modified unless and until VAJRAADITYA VENTURES has
so confirmed in writing.
The pending orders shall be governed as per the exchange systems, after
the market is closed for the day.
VAJRAADITYA VENTURES shall issue contract notes in terms of the SEBI
(Brokers and Sub-Brokers) Rules and Regulations, 1992, within 24 hours of the
execution of the trade. Such a contract note, if issued in physical form shall
be dispatched by VAJRAADITYA VENTURES by courier, at the address mentioned in
this agreement or at any other address expressly informed to VAJRAADITYA
VENTURES by the client. The client agrees that VAJRAADITYA VENTURES to issue
the contract note in digital form which shall be sent by way of electronic mail
to the address provided by the client. VAJRAADITYA VENTURES shall not be
responsible for the non-receipt of the trade confirmation due to any change in
the correspondence address of the Client not intimated to VAJRAADITYA VENTURES
in writing. Client is aware that it is his responsibility to review the trade
confirmations, the contract notes, the bills or statements of account
immediately upon their receipt. All such confirmations and statements shall be
deemed to have been accepted as correct if the client does not object in
writing to any of the contents of such trade confirmation/intimation within 24
hours to VAJRAADITYA VENTURES.
VAJRAADITYA VENTURES may allow/disallow client from trading in any
security or class of securities, or derivatives contracts and impose such
conditions including scrip-wise conditional trading for trading as it may deem
fit from time to time.
Margin
The Client agrees and undertakes to
immediately deposit with VAJRAADITYA VENTURES such cash, securities or other
acceptable security, which VAJRAADITYA VENTURES may require as margin. The
Client agrees that VAJRAADITYA VENTURES shall be entitled to require the Client
to deposit with VAJRAADITYA VENTURES a higher margin than that prescribed by
the Exchange. VAJRAADITYA VENTURES shall also be entitled to require the Client
to keep permanently with VAJRAADITYA VENTURES a margin of a value specified by
VAJRAADITYA VENTURES so long as the Client desires to avail of the Online
Trading Service of VAJRAADITYA VENTURES.
The Margin will not be interest
bearing. VAJRAADITYA VENTURES shall have, at its sole discretion, the
irrevocable right to set off a part or whole of the Margin i.e., by the way of
appropriating of the relevant amount of cash or by sale or transfer of all or some
of the Securities which form part of the Margin, against any dues of the Client
or of a member of the group of the Client (for the purposes of these Terms,
"Group" shall mean all the individuals, group companies, firms,
entities and the persons as specified in the schedule to the Member Client
Agreement) in the event of the failure of the Client or a member of the Group
of the Client to meet any of their respective obligations under these Terms.
The client agrees and authorises
VAJRAADITYA VENTURES to determine the market value of securities placed as
margin after applying a haircut that VAJRAADITYA VENTURES may deem appropriate.
The client undertakes to monitor the market value of such securities on a
continuous basis. The client further undertakes to replenish any shortfall in
the value of the margin consequents to a fall in the market value of such
securities placed as margin immediately whether or not VAJRAADITYA VENTURES
intimates such shortfall.
VAJRAADITYA VENTURES may at its sole
discretion prescribe the payment of Margin in the form of cash instead of or in
addition to margin in form of securities. The Client accepts to comply with the
requirement of VAJRAADITYA VENTURES with regards to payment of Margin in the
form of cash immediately. Without prejudice to the stock broker's other rights
(including the right to refer a matter to arbitration), the stock broker shall
be entitled to liquidate / close out all or any of the client's positions for
non- payment of margins or other amount, outstanding debts, etc., and adjust
the proceeds of such liquidation / close out, if any, against the client's
liabilities / obligations. Any and all losses and financial charges on account
of such liquidation / closing-out shall be charged to and borne by the client.
The client agrees to abide by the
exposure limits, if any, set by the stock broker or by the Exchange or Clearing
Corporation or SEBI from time to time.
The client is also aware that
VAJRAADITYA VENTURES is required to deposit sufficient margin with the Exchange
to enable all its eligible clients to trade subject to such limits as may be
imposed by VAJRAADITYA VENTURES on the basis of VAJRAADITYA VENTURESs' Risk
perception and other factors considered relevant by VAJRAADITYA VENTURES.
However, there may be circumstances when the deposits made by VAJRAADITYA
VENTURES with the Exchange may not be sufficient in times of extreme volatility
and trading terminals of VAJRAADITYA VENTURES may get temporarily suspended
because of the cumulative effect of non-meeting of obligation by various
clients as per this agreement. In these circumstances, no client shall have the
right to claim any damages from VAJRAADITYA VENTURES for any loss that they
might incur on account of such suspension of trading.
The Client agrees that any
securities/cash placed by him/her/it as margin may in turn be placed as margin
by VAJRAADITYA VENTURES with the Exchanges or banks or such other institution
as VAJRAADITYA VENTURES may deem fit. The Client authorises VAJRAADITYA
VENTURES to do all such acts, deeds and things as may be necessary and
expedient for placing such securities/cash with the
Exchanges/Banks/Institutions as margin.
Any reference in these terms to sales
or transfer of Securities by VAJRAADITYA VENTURES shall be deemed to include sale
of the Securities which form part of the Margin maintained by the Client with
VAJRAADITYA VENTURES. In exercise of VAJRAADITYA VENTURES's right to sell
securities under the Agreement, the Client agrees that the choice of specific
securities to be sold shall be solely at the discretion of VAJRAADITYA
VENTURES.
Maintenance of trading account
Money pay-in to VAJRAADITYA VENTURES - The Client agrees that all
payments due to VAJRAADITYA VENTURES will be made within the specified time and
in the event of any delay, VAJRAADITYA VENTURES may refuse, at their
discretion, to carry out transactions or closeout the position and the
costs/losses if any, thereof shall be borne solely and completely by the
client. All payments made to VAJRAADITYA VENTURES shall be from the account of
the client and shall not to be from any third party.
Money payout to VAJRAADITYA VENTURES - Notwithstanding anything
contained in any other agreement or arrangement, if any, between the parties
hereto, the client hereby authorizes VAJRAADITYA VENTURES to release all
payments due to him from the trading account maintain with VAJRAADITYA
VENTURES, against specific request in this behalf.
VAJRAADITYA VENTURES is entitled to consider any sum or money or
security lying to the credit of the client as margin received.
Representations
and warranties
The Client hereby warrants that he is
capable of executing the present agreement and that the terms of the present
are not in contravention of any rights of any party with whom such client has
any agreements, at any time prior to the execution of this agreement.
He agrees to provide and continue to
provide all details about themselves as may be required by VAJRAADITYA
VENTURES, including but not restricted to PAN Number or Unique Identification
Number (issued by SEBI) , and states all details and facts represented to
VAJRAADITYA VENTURES are true.
The Client is aware and acknowledges
that trading over the internet involves many uncertain factors and complex
hardware, software, systems, communication lines, peripherals, etc., which are
susceptible to interruptions and dislocations; and the Online Trading Service
of VAJRAADITYA VENTURES may at any time be unavailable without further notice.
VAJRAADITYA VENTURES and the Exchange do not make any representation or
warranty that the Online Trading Service of VAJRAADITYA VENTURES will be
available to the Client at all times without any interruption. The Client
agrees that he shall not have any claim against the Exchange or VAJRAADITYA
VENTURES on account of any suspension, interruption, non-availability or
malfunctioning of the Online Trading System or Service of VAJRAADITYA VENTURES
or the Exchange's service or systems for any reason whatsoever.
VAJRAADITYA VENTURES states that it
has complied with and will continuously comply and if not proposes to comply
with all statutory and regulatory directions to offer the Internet Trading
services through the website www.Vajraaditya Ventures.com and for dealing in
cash and derivatives segment of the exchange.
The Client warrants that all or any
of the securities deposited by him with VAJRAADITYA VENTURES in respect of
margin requirements or otherwise, are owned by him and the title thereof is
clear and free of encumbrances.
The Client/s agree to indemnify and
hold VAJRAADITYA VENTURES harmless against any loss that may be suffered by it,
its customers or a third party or any claim or action that may be initiated by
a third party which is in any way the result of improper use of user ID and
password by the Client/s.
The Client hereby confirms and
warrants that the Client authorises VAJRAADITYA VENTURES to take all such steps
on the Client’s behalf as may be required for provisions or to complete or
settle any transactions entered into through or with VAJRAADITYA VENTURES or
executed by VAJRAADITYA VENTURES on behalf of the Client. However, nothing
herein shall oblige VAJRAADITYA VENTURES to take such steps.
Fees and brokerage
The Client agrees to pay to VAJRAADITYA VENTURES brokerage, commission,
fees, service tax and other taxes and transaction expenses as they exist from
time to time and as they apply to the Client's account and transactions, and
the services that he receives from VAJRAADITYA VENTURES.
A schedule of brokerage, fees and commissions, applicable service and
other taxes and other transaction expenses shall be provided by VAJRAADITYA
VENTURES to the Client from time to time upon request by the Client.
Investment
or any other advice
The Client agrees that none of the
services available on the website shall amount to investment advice on the part
of VAJRAADITYA VENTURES.
The Client agrees that in the event
of VAJRAADITYA VENTURES or any employee or official of VAJRAADITYA VENTURES,
providing any information, recommendation or advice to the client, the client may
act upon the same at the sole risk and cost of the client, and VAJRAADITYA
VENTURES shall not be liable or responsible for the same.
VAJRAADITYA VENTURES, and its
officers, directors, partners, employees, agents and affiliates will have no
liability with respect to any investment decisions or transactions of the
client.
Programmes
& Initiatives
Vajraaditya Ventures may from time to
time have programmes to promote engagement and education among clients.
Vajraaditya Ventures runs an initiative of a 60 day challenge where clients
participating and ending profitable after 60 days, shall be awarded a
certificate of recognition. Similarly, Vajraaditya Ventures encourages clients
to refer their friends and family to begin investing with Vajraaditya Ventures.
In all such cases, Vajraaditya Ventures reserves the absolute right to change,
withdraw, modify or suspend a part of or an entire programme / initiative,
without any prior notice to any such user or client.
Vajraaditya Ventures’s decision on
any condition of how any such initiative or programme shall operate, would be
final.
Miscellaneous
VAJRAADITYA VENTURES does not warrant that the service will be
uninterrupted or error-free. The service is provided in an "as is"
and "as available" basis without warranties of any kind, either
express or implied, including, without limitation, those of merchantability and
fitness for a particular purpose. The client agrees that VAJRAADITYA VENTURES
shall not be held responsible for delays in transmission of orders due to breakdown
of the system or failure of communication facilities either due to the fault of
the systems of VAJRAADITYA VENTURES or of the Exchanges or otherwise or for any
other delay beyond the reasonable control of VAJRAADITYA VENTURES due to a
breakdown or failure of communication facilities or for any other delay beyond
the reasonable control of VAJRAADITYA VENTURES.
All modification to this Agreement shall be made solely at the
discretion of VAJRAADITYA VENTURES and shall be intimated to the client by a
suitable modification to the terms and conditions or other applicable section
on the website or in any other manner.
Indemnity
In the event of death or insolvency
of the client, winding up or liquidation, or their otherwise becoming incapable
of receiving and paying for or delivering or transferring securities which the
client has ordered to be bought or sold, VAJRAADITYA VENTURES may close out the
transaction of the client and the client or his legal representative shall be
liable for any losses, costs and be entitled to any surplus which may result
therefrom.
The client is aware that
authentication technologies and strict securities measures are required for
internet trading through order routed system and undertake to ensure that the
password of the client and /or their authorized representatives are not
revealed to any third party. The client also agrees to indemnify VAJRAADITYA
VENTURES from any loss, injury, claim or any action instituted against
VAJRAADITYA VENTURES arising from the misuse of the password by any party.
Force majeure
VAJRAADITYA VENTURES shall not be responsible for delay or default in
the performance of their obligations due to contingencies beyond their control,
such as (including but not limited to) losses caused directly or indirectly by
exchange or market rulings, suspension of trading, fire, flood, civil
commotion, earthquake, war, strikes, failure of the systems, failure of the
internet links or government / regulatory action.
Severance
In the event of any one or more of
the provisions contained in this Agreement becoming invalid, illegal or
unenforceable in any respect under any law for the time being in force, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be prejudiced or affected thereto.
Refund & cancellation policy
The Refund & Cancellation policy for all payments made towards
account opening using the payment gateway shall stand as under:
Note: The completion of the refund procedure is subject to agencies such
as banks, payment gateways.
Notice
All notices, correspondences or communications
issued under this agreement shall be served in any one or more of the following
modes of communications and such notice or communication shall be served at the
ordinary place of residence and/or last known web address / residing address and
/ or at the ordinary business address of the party to this agreement such as -