TERMS OF USE OF HTTP://WWW.INDIABULLS.COM, HTTPS://TRADE.INDIABULLS.

COM,
POWER INDIABULLS AND TRADING THROUGH ANY OF THE TERMINALS OF INDIABULLS
SECURITIES LIMITED

The following should be read carefully and accepted prior to becoming a Constituent for offline and online trading i.e. for
trading, viewing, downloading, using, copying, availing the facilities and/or any information, or any part thereof, as the case
may be, as may be made available from time to time on the Web-Site and/or entering into any securities dealings through
the agency of INDIABULLS SECURITIES LIMITED (hereinafter referred to as “ISL”) whether by use of any of the facilities
available on the Web-Site, or by any other means whatsoever.
Please note that M/s Indiabulls Securities Ltd. is engaged both in Constituent based trading as well as Proprietary account
trading.
Whereas, http://www.indiabulls.com (hereinafter referred to as the “Web-Site”) is a product and service provided by ISL. ISL
offers its services and the Web Site for use in accordance with the Terms and Conditions of Use (the “Terms”) contained
herein. Please read the following, which contains important information concerning use of the Web Site. The use of the Web
Site is conditional upon and subject to, acceptance of and compliance with, the Terms.

I. PRELIMINARY

I.i Ownership of the Web-Site

(a) ISL (hereinafter also referred to as the “Member”) being a broker registered with the Securities and Exchange Board of
India (hereinafter referred to as the “SEBI”) having obtained Certificate of Registration No. INB 230875632 and INF
230875632 and is a trading member of the National Stock Exchange(s) thereby being entitled to effect purchase and sale.
transactions of securities (hereinafter referred to as the “Securities Dealings”) offline and online admitted to the Exchange(s)
(hereinafter referred to as the “Admitted Securities”), for and on behalf of third parties.
(b) The website is owned, operated and maintained by the member INDIABULLS SECURITIES LIMITED (ISL)

I.ii Registration for use of the Facilities and Services

(a) Any person visiting the Web Site may access and use the Facilities by establishing an online persona with a unique
'Client ID' and 'Password' , in the manner as indicated on the Web-Site. “Facilities” shall mean and include any information,
materials, documents, chat-room facilities, downloads (software or otherwise), data, stock market quotation ticker tape
facilities, and all other information and utilities contained or accessible on or through the Web Site as may be provided on
the Web Site from time to time, [other than any information directly required in relation to the Services].
(b) Only persons who enter into an agreement (hereinafter referred to as the “Member-Constituent Agreement”) with the
Member and who have been provided with a unique Trading Password for online trading and unique Client Code for offline
trading (hereinafter, such persons being referred to as the “Constituent”) by the Member in the manner as indicated on the
Web-Site for online trading and give exact code for offline trading respectfully shall be entitled to avail the Services provided
by the Member. “Services” provided by the Member shall mean the purchase and/or sale of the Admitted Securities upon
receipt of orders, either electronically via the Web-Site or orally via telephone (as stipulated in the Member-Constituent
Agreement) or written, from the Constituent to purchase and/or sell the same and shall include such other services and
facilities that may be offered from time to time by the Member, in its position as a SEBI registered broker and NSE/BSE
trading member.
(c) The Terms shall be deemed to form part of the Member-Constituent Agreement and shall be deemed to be incorporated
therein to the same extent as if these provisions had been set forth in full therein. The Constituent's entitlement to avail the
Services or any part thereof shall be subject to compliance with all the terms and conditions set forth herein. (d) The word
I/WE, ME/US, MY/OUR refers to person(s) who open the account(s) and shall mean and include both singular and plural.
ISL refers to INDIABULLS SECURITIES LTD.

II CONDITIONS OF USE OF THE SERVICES

II.i (a) Participation The Constituent shall ensure that he/she/it is eligible to enter into this agreement. The Constituent
having agreed to enter into this agreement shall be deemed to have satisfied himself/herself/Itself with regard to eligibility in
this respect. During the currency of the agreement, it shall be the duty of the Constituent to inform the Member immediately
of the change in constitution, Identity by change of name, residential status or any other information as provided by the
Constituent at the time of entering into this agreement.

II.i (b) Acting as a Sub Broker

The Constituent agrees that he/she/it will not act as Sub-Broker without prior written permission of the Member and without
obtaining certificate of registration from Securities and Exchange Board of India (SEBI).

II.i (c) Authorized Person

The Trading and other instructions for facilitating and carrying out business issued telephonically or through any other
means express or implied by an authorized representative of the Constituent shall be binding on the Constituent. In the
event of the authorized representative(s) being replaced, it shall be the responsibility of the Constituent to inform the
Member of the change in writing, failing which the Constituent shall be responsible for the trade obligations arising out of the
actions of both the representatives, old as well as the new representative.
If any transaction(s) under this agreement or under any other agreement or otherwise with Member, has/have been
accepted by Constituent from time to time on the basis of the contract note(s)/bills/any other correspondence despatched /
communicated to the Constituent by Member and / or part or full settlement of the said transaction(s) by the Constituent,
then such transaction(s) shall be deemed to be executed by the person authorized by the Constituent and the Constituent
hereby agrees to ratify and accept all such or other actions of such persons and undertakes to meet all obligations arising
from these transaction(s).
The Constituent shall be bound by all the transactions undertaken by Member pursuant to the instructions of the authorized
persons.

Issuance of Cheques

Authorized signatories : Any authorized signatory on behalf of Proprietorship/Partnership firm or Company or Non-individual
Constituent etc. can issue cheques for the credit to account of the Constituent even if such authorized signatory is not
registered in the records of ISL. The constituent agrees that if any claim is made by the authorized signatory for the said
amount against the Trading Member, then the constituent is solely responsible for the said act and the Trading Member shall
not be held responsible in any manner.

II.i (d) Understanding of Risks involved in Derivatives Trading

The Constituent has read, understood, appreciated and signed the Risk Disclosure Document.
The Constituent declares and agrees as follows:

- The Constituent has read the Risk Disclosure Document appended hereto and understood the trading and risks involved in
trading in these instruments and shall be wholly responsible for all investment decisions and trades undertaken by him.
- The Constituent shall be bound by the constitutions, byelaws, rules, regulations and customs of the exchange(s) and
clearing corporation(s).
- The Constituent will pay applicable daily margins.
- The Constituent shall not, acting alone or in concert with others, directly or indirectly, hold and control excess number of
permitted Derivative contracts as fixed from time to time by the Exchange(s).
- Payment of margins by the Constituent does not necessarily imply complete satisfaction of all dues.
- In spite of consistently having paid margins, the Constituent may, on the closing of his trade, be obliged to pay (or entitled
to receive such further sums as the market price of the instrument or contract may dictate)
-All monies, securities or other property, which the Member may hold on Constituent's account, shall be held subject to a
general lien for the discharge of the Constituent's obligations to the Member.
-The Constituent authorizes the Member to sell or close out any part or the entire derivative contract held in the Constituent's
account with the Member, if the Member at its sole discretion may deem it necessary for meeting the obligations of the
Constituent.

The failure of the Constituent to understand the Risk involved or the failure of the Member to explain the risk to the
Constituent shall not render a contract as void or voidable and the Constituent shall continue to be responsible for all risks
and consequences for entering into trades in Derivatives.
Eligible Securities in Derivative segment vary from month to month on rolling basis as per criteria decided by
SEBI/NSE/BSE. The Exchange(s) may compulsorily close out all Derivative contract positions in a particular underlying
when that underlying ceases to satisfy the eligibility criteria or the Exchange(s) is of the view that continuance of Derivative
contract in such underlying is detrimental to the interest of market, keeping in view market integrity and safety.

II.i (e) Subject Matter of the Services

The Services offered by the Member include the sale and purchase of dematerialised securities trading on the NSE/BSE (in
e-trading account on the internet and also in off-line trading and delivery of shares in physical mode wherever the same is
traded on off-line on specific direction received by the 'Member' at any of their terminals) in the CM/F&O/RDM segments of
the market [and shall include trading in derivative products or in the carry forward segment, and such other services/
products as may be permitted from time to time but does not include Portfolio Management Services].

II.ii Order Entry

(a) The Constituent shall be entitled to place an order for the sale or purchase of any Admitted Security at any time,
regardless of the duration of the trading hours of the NSE/BSE, through e-mail, writing, telephonic placement by the
Constituent or his duly authorised representatives whose particulars has been provided by the Constituent to the member
and on receipt of such instructions those orders shall be forwarded for the execution.
(b) All orders entered by Constituent, either electronically or otherwise as detailed above, are based upon their investment
decisions and their sole responsibility and will not hold, nor seek to hold the Member or any of its officers, directors,
employees, agents, subsidiaries or affiliates, liable for any trading losses or other losses incurred by Constituent, including in
the event that any order is placed by the Constituent on the basis of the Facilities or any information (including any
investment information, advice, research reports, or any other information) that may be made available on the Web-Site.
(c) The Member shall be deemed to not have received any order whether electronically transmitted or otherwise until it has
confirmed the receipt of such order as mentioned in subclause II.ii (a).
(d) The Constituent agrees that placing an order with the Member, either electronically or otherwise, does not guarantee
execution of the order, regardless of the confirmation by the Member of the receipt of the order and/or its execution and the
Member shall not be liable for any losses, damage or claims on account of the non-execution of any order placed.
(e) The Constituent hereby accepts all responsibility for knowing the status of all corporate benefits like rights and bonus
issues, dividends and stock splits of shares he/she/it intends to trade in or held in his/her/its account. The Constituent further
accepts all responsibility for knowing the correct ISIN numbers of the shares in his/her/its account and the eligibility of the
shares to meet share pay in obligations to the NSE/BSE whether received by way of purchases, rights, bonuses, stock
splits, off market transfers or otherwise.
(f) Prior to placing an order in connection with the sale/purchase or transfer of any securities in which Constituent requires
any form of regulatory or other permission, the Constituent must advise the Member of the status of the securities and
furnish necessary documents including opinions of legal counsel prior to the execution of the order. The Constituent

acknowledges and accepts that delays may occur in relation to the processing of such orders, despite the necessary
documents being furnished in a timely manner. The Member may at its sole discretion refuse to execute any such order till it
is satisfied of the legality of the transaction. The Constituent is responsible for all costs associated with compliance or failure
to comply with all the regulatory requirements and hereby agrees to fully indemnify the Member from any costs, losses,
claims or other liability arising on account of such orders.

II.iii Order Execution

(a) In the event that the order is placed during the trading hours of the NSE/BSE, it shall be routed to and executed on the
market system. However, in the event that the order is placed at any other time, the order shall be routed to and executed
during the next succeeding trading session of the NSE/BSE.
(b) The Constituent agrees and appoints the Member as its agent to take all necessary measures to complete the
transactions and hereby authorises the Member to make any and all advances and expend monies as may be required.
(c) The Constituent acknowledges that whilst orders are normally routed through the market systems almost simultaneously
with the placing of the order, the Constituent is aware that the Member has provided on the Web-Site a facility for
reconfirmation of orders which are larger than those specified by the Member's risk management policy and is also aware
that the Member has the discretion to reject the execution of such orders based on such risk management policy. The
Member shall not be liable for any delay or cancellation of any order due to the exercise of the Member's discretion under
such policy. (d) The Constituent acknowledges and accepts that the Member has the sole discretion to reject or cancel any
order that may be placed by the Constituent for any reason whatsoever, including for any breach of the Margin requirements
as stipulated hereunder in Paragraph II.vi and the Member shall not be liable for any losses, damage or claims on account of
such rejection or cancellation as the case may be.
(e) The Constituent acknowledges and accepts that the NSE/BSE may reject or cancel any trade suo moto without ascribing
any reasons therefor and the Member shall not be liable for any losses, damage or claims on account of such rejection or
cancellation as the case may be.
(f) The Constituent further acknowledges and accepts that it will receive the price at which the order was actually executed
in the marketplace, which may be different from the price at which the security was traded when the order was entered into
the Member's system.
(g) The Constituent hereby agrees that Member shall not be responsible or liable for the execution of any order that may
have been placed by the Constituent or any unauthorised use of the Constituent's Trading Password by any person.
(h) The cancellations or modifications to orders placed is not guaranteed. Cancellation of orders is possible only if the
original order remains pending at the NSE/BSE. The cancellation or modification of an order shall be deemed not to have
been executed unless a confirmation to such effect is received from the Member. The Constituent agrees that the Member
shall not be liable for any losses, damage or claims on account of the non-execution or delayed execution of an order of
cancellation or modification. Unless otherwise specified by the Member, any order not executed at the end of the relevant
NSE/BSE trading day shall stand cancelled. To remove any doubt, it is hereby clarified that an order placed prior to or during
the trading day at the NSE/BSE, shall not remain valid for execution at any subsequent trading day at the NSE/BSE.
(i) The Constituent also accepts responsibility for knowing the trading and settlement cycles of the NSE/BSE and the
settlements pay in/pay out dates for funds and securities and in the event any trades or transactions are reported late to the
Member on account of any problems at the Exchange(s) or for whatever reason, the Constituent in turn will be subject to late
reporting of transactions.
(j) Any errors reported to the Constituent for any reason whatsoever will stand subsequently corrected to reflect the
transaction that was effected in the market and the Constituent agrees that the Member shall not be liable for any damage,
loss or claim in account of such error or correction thereof.
(k) The constituent undertakes not to execute transactions for small/big quantities by placing both buy and sell orders
resulting in rise or fall of prices of illiquid securities. The above activity if found to raise or depress the 'prices' and/or 'activity
of such securities' artificially, will be violation of Rules, Bye- Laws and circulars issued by the Exchange(s) from time to

II.iv Purchase of the Admitted Securities

(a) Prior to placing any order for the purchase of any Admitted Security, the Constituent shall ensure that sufficient cash
credit balance is available in its account with the Member. The Constituent is responsible for all of their orders, including any
orders, which exceed the available cash, credit balances available to its account and are executed by the Member,
inadvertently or otherwise.
(b) Any order accepted and executed, inadvertently or otherwise, without sufficient cash credit balance will be subject to
cancellation or liquidation at the Member's discretion, unless the Constituent immediately, upon demand by the Member,
makes good the shortfall in the amount as indicated by the Member.
(c) The date for payment in the case of purchase of securities by the Constituent will be viewed on the day to day basis by
the member and the same shall be intimated by the member to the Constituent either telephonically or otherwise as required
for maintaining the account of outstanding as per NSE/BSE rules and the Constituent shall within two days make up the
deficiency of balance and bring it to cash credit with the reasonable margin to withstand his future transactions within the
'margin' limit provided herein after on the date intimated by the Member to the Constituent for the same (the “Intimated
Date”) and which may be a date which is at least [two] working days in advance of the pay in date of the NSE/BSE. In the
case where the payment is not made by the Intimated Date, the securities purchased by the Member on behalf of the
Constituent shall be liable to be sold without any further reference to the Constituent and any loss or damage as a result of
such sale would be borne solely by the Constituent.
(d) In case of purchase of securities by the Constituent, at times the Member may be unable to deliver the securities to the
said Constituent on the pay out day due to non receipt of the securities from the stock exchange(s) or in case on non receipt
of the said securities from another Constituent of the Member who has sold the securities against the said purchase
transaction. In cases of such short delivery, the securities shall be delivered to the Constituent as per the policy of the
Member as amended from time to time.

II.v Sale of the Admitted Securities

(a) Prior to placing any order for the sale of any Admitted Security, the Constituent shall ensure that the concerned security
is available in sufficient quantity in its/his/her account with the Member. The Constituent is responsible for all of their orders,
including any orders, which exceed the available quantity of the relevant security and are executed by the Member,
inadvertently or otherwise.
(b) The Constituent agrees and hereby authorises the Member to block as sold the relevant securities, as standing to
its/his/her account, against its/his/her order to sell securities. If its/his/her order gets executed either fully or partially then the
securities to the extent sold, would be unblocked on the trade date and the transaction would be effected. The Constituent
agrees that it/he/she shall not withdraw/pledge or otherwise use or attempt to withdraw/pledge or otherwise use, the blocked
securities. The Constituent hereby authorises the Member to dishonour any orders issued against the blocked security.
(c) The Constituent acknowledges and agrees that the proceeds of the sale will not be credited to the cash credit balance
account of the Constituent until the securities have been delivered to the NSE/BSE/clearing house and pay out is received
from the NSE/BSE/clearing House. The proceeds of all sales will be credited, to the cash credit balances account of the
Constituent as maintained by the Member, directly after settlement date.
(d) The constituent is made aware of the fact that he can put trades in either of sub accounts viz. Investment or Trading and
Trading account positions can be taken purely for intra day purposes. All trading account positions have to be compulsorily
squared off before the end of the market or any other time as specified by the Trading Member. In case any outstanding
position remains, the Trading Member will square off the same at the prevailing market price. In case the square off cannot
be done, the Trading account will get shifted to Investment account of the Constituent. In case of short position, the
Constituent has to arrange the Securities or else the same will be got auctioned. No where is Trading Member liable for any
losses arising out of the square off process, square off not happening, and auction process. It's on the discretion of the
Trading Member to merge separate accounts as maintained by constituent in separate divisions. The constituent agrees to
abide by the said arrangement.
(e) The constituent agrees voluntarily that in case the payments of the trading done by him/her/it are not made in time or
there is outstanding balance in his/her/its name due towards the Member then the constituent shall pay interest at the rate of
24% per annum compounded daily basis on the said outstanding amount to the Member.
II.vi Margins

(a) The Constituent shall maintain such quantity of securities and such amount of cash credit balances (hereinafter referred
to as the “Margin”) as required by the applicable statutes, rules, regulations, procedures or as deemed necessary or
advisable by the Member, provided that the Margin shall not at any time be less than [25%] of the price of the Admitted
Securities proposed to be purchased or sold. The Constituent agrees that no interest shall be payable on the Margin as
maintained with the Member. The Constituent shall be permitted to trade upto a pre-determined number of times of the
Margin and the quantum of such multiple shall be determined at the sole discretion of the Member.
(b) The margin requirement and squaring up process for offline and online trading is different. The margin in online account
will not be considered in the offline account and vice-versa unless specifically directed by Constituent. The accounting
process for both accounts is different and is independent of each other.
(c) In case there is any change in policy relating to Risk Management pertaining to margin requirement and squaring up
process the same would be reflected in the website www.indiabulls.com. and at the registered office and terminals of the
member and the onus is on the Constituent to keep check, understand, and agree with the Risk Management policy
pertaining to margin requirement and squaring up process from time to time.
(d) The Constituent shall also remain in touch with the member to keep a regular check on his account and margin
requirements, for maintaining sufficient margin with the member to undertake any transaction in his a/c in off line and online
trading. If the Member considers it necessary for its own protection, it may require the Constituent to immediately on
demand deposit cash or securities to their account prior to any applicable settlement date in order to assure due
performance of their open contractual commitments. If Constituent does not provide such additional cash or securities, the
Constituent hereby grants to the Member the right to sell any or all securities extant in their account, buy any or all relevant
securities which may be short in their account, cancel any or all open orders and/or close any or all outstanding contracts.
The constituent agrees and made aware that in case intra day loss is such that margin position goes down, Trading Member
can sell any or all securities in the account without giving notice to the constituent as it/he/she is also required to keep track
on its/his/her margin position Trading Member may do the square off/selling at any time during the day in account.
(e) In addition, Constituent acknowledges and agrees that the Member may exercise any or all of the above rights, prior to or
without any demand, for additional cash or securities, or notice of sale or purchase, or other notice or intimation. Any such
sales or purchases may be made at any time at the sole discretion of the Member on any market where such business is
usually transacted, or at public auction or private sale, or the Member may purchase/sell for its own account. The
making/giving of any prior demand or call or notice of the time and place of such sale or purchase shall not be considered as
a waiver of any rights of the Member to sell or buy without any such demand, call or notice, at that time or at any time
subsequently. (f) In addition to the above, if the Constituent does not credit its cash or securities account as maintained with
the Member, to make up any shortfall in the Margin, instantaneously, to enable restoration of the Margin in Constituent's
account, the position of the Constituent may be squared off by the Member, without any further reference to the Constituent
and without prior notification, and any resultant or associated losses that may occur due to such squaring off shall be borne
by the Constituent, and the Member is hereby fully indemnified and held harmless by the Constituent in this behalf. In case
where the payment by the Constituent towards the Margin is made through a cheque issued in favour of the Member, any
trade would be executed by the Member only upon the realisation of the funds of the said cheque.
(g) The constituent confirms that he/she/it has understood the risks involved in trading securities on margin and fully agrees
to abide by the procedures and policies of the member which are listed below:

- The constituent can lose more funds than the deposit in his/her/its account. The decline in value of securities that are
purchased on margin may require the constituent to provide additional funds to the member to avoid the forced sale of those
securities or other securities or assets in constituent's account(s).
- The member can force the sale of the constituent's securities or other assets in the constituent account(s). If the equity in
constituent account falls below the margin requirements, the Member can sell the securities held with it to cover margin
deficiency. The Constituent will be responsible for the shortfall, if any, in the account even after such a sale.
- The Member can sell constituent's securities or other securities without contacting him/her/it. Some Constituents
mistakenly believe that Member must contact them for margin call to be valid, and that the Member cannot liquidate the
securities or other assets in their accounts to meet the call unless the Member has contacted them first. This is not the case.
Member will attempt to notify the constituents of margin calls, but it is not required to do so. However even if Member has
contacted the constituent and provided a specific date by which the constituent can meet a margin call, the Member can still
take necessary steps to protect its financial aspects, including immediately selling the securities without notice to the
constituent.
- The constituent is not entitled to choose which securities or other assets in his/her/it's account(s) are liquidated or sold to
meet a margin call. Because the securities are collateral for margin loan, the Member has the right to decide which
securities to sell in order to protect its interests.
- The Member can increase its margin requirements at any time and is not required to provide the constituent with advance
written notice. These changes in Member's policy often take effect immediately and may result in issuance of margin call.
Constituent's failure to satisfy the call may cause the member to liquidate or sell securities in Constituent's account (s).
- The constituent is not entitled to an extension of time on a margin call. While an extension of time to meet margin
requirements may be available to constituents under certain conditions, a constituent does not have a right to the extension.
(h) Margins in Derivatives Trading:
In the Derivatives segment, the Constituent is liable to pay an initial margin up-front on or before creating a position such
margin shall be decided upon by the Member or the Exchange from time to time. Furthermore, the Constituent is liable to
pay (or receive) Daily margins depending on whether the price of the Derivatives contract moves for or against the position
undertaken. The Constituent may also be liable to pay with holding margins, special margins or such other margins as
considered necessary by the Member or the Exchange from time to time. The Member is permitted in its sole and absolute
discretion to collect additional margins (even though not imposed by the Derivatives segment, the Clearing House or SEBI)
and the Constituent shall be obliged to pay such margins.
(i) Mark to Market Margins in Derivatives: For Derivatives contracts, the Constituent agrees that the Member shall raise bills
on weekly basis. The Constituent also agrees to pay an up-front margin at the beginning of each week that will be sufficient
to cover the daily margins for the entire duration of the week. If at any time during the week, the cumulative Mark to Market
(MTM) margin falls short Margin available in the Constituent's account, the Constituent agrees to heed the Member's
additional Margin calls. As the up-front weekly margin calls are purely for operational convenience, the Constituent will
ensure that the Margins are adequate at all times and will immediately make good any short fall that the Member may
communicate.
(j) Payment by Constituent through Cheque: In case where the payment by the Constituent towards the Margin is made
through a cheque issued in favor of the Member, the said cheque will be credited to the Constituent's account only after
realisation of funds in the Member's bank account.
(k) Margin in form of Securities: The Constituent may place margin with the Member in form of securities as approved by the
Member. Such securities may, at the discretion of the Member, be marked under lien in favor of the Member from the
Depository Account of the Constituent or such securities may be placed in a separate Depository account titled
'INDIABULLS SECURITIES LTD.' to be earmarked as margin from the Constituent. The Constituent agrees and authorizes
the Member to determine the market value of securities placed as margin after applying a haircut that the Member deems
appropriate. The Constituent's securities are valued at the latest market price available (' Marked to Market') on a continuous
basis by the Member. The Constituent undertakes to monitor the adequacy of the collateral and the market value of such
securities on a continuous basis. If due to price fluctuations, there is erosion in the value of margins, the Constituent agrees
to replenish any short fall in the value of Margins immediately, whether or not the Member intimates such shortfall.

(l) Type of Margin :

The Member may at its sole discretion prescribe the payment of margin in the form of cash instead of securities. The
Constituent accepts to comply with the Member's requirement of payment of margin in the form of cash failing which the
Member may sell, dispose, transfer or deal in any other manner the securities already placed with it as margin or square off
all or some of the positions of the Constituent as it deems fit in its discretion without further reference to the Constituent and
any resultant or associated losses that may accrue due to such square off/ sale shall be borne by the Constituent, and the
Member is hereby fully indemnified and harmless by the Constituent in this behalf.
(m) Margin Merging: The constituent agrees and empowers/authorize the Trading Member to act at its discretion of merging
balances kept under various accounts held with M/s INDIABULLS SECURITIES LTD. such as Online Trading Account,
Offline Trading Account, NSDL (or CDSL) DP Account, CM Trading Account and F&O Trading Account etc., to nullify the
debit in any other account of the Constituent held with M/s Indiabulls Sec Pvt Ltd. without taking any further instructions from
the Constituent. Similarly the constituent agrees and empowers/authorize the Trading Member to merge the securities kept
with Trading Member in various accounts in order to nullify the debit in any account of the constituent.
(n) The constituent hereby authorize the Member to change or alter the list of Securities on which margin trading is allowed.
(o) Member will pass to the constituent whatever corporate benefits are received from the companies directly like dividends
and bonus shares. For other corporate benefits/actions like Rights issues/Open offers etc. where shareholders are required
to apply to the company, it is the constituent's responsibility to track announcements of such corporate benefits and then
apply to the company if constituent so desires. Members shall not be liable for any real/notional loss suffered by the
constituent, if constituent fails to apply for such corporate benefits in time for the shares held by the Member on behalf of the
constituent. In some cases, Member at the constituent request may apply on behalf of the constituent for a Rights
issue/Open Offer for the shares held by Member on behalf of constituent. Member shall not be liable for any loss/claim
whatsoever in case such application is rejected by the Registrar/Company/manager to the issue for any reason.

II.vii Confirmations and Contract Notes

(a) The Constituent is required to ascertain the status of its/his/her order (including any rejection of the same) which would
be posted on the relevant sections of the Web-Site or the Constituent may enquire the balance as maintained by member or
the member shall keep sending the details of contract notes and the status of his account on fortnight basis wherever the
Constituent is availing the services of the member's ‘off-line' from any terminals of the member.
(b) Constituent understands that it is its/his/her responsibility to review, upon first receipt, whether delivered to Constituent
by mail, by e-mail, or other electronic means, all confirmations, statements, notices and other communications, including but
not limited to, margin, maintenance calls, and prospectuses. Notices and other communications may also be provided to
Constituent verbally, in writing or by other means.
(c) The Member shall deliver to the Constituent a contract note of the trades executed on their behalf on the trading date via
e-mail/digitally signed document/post or courier or by any of the means of communication specified in clause V.i of this
agreement or should post such information on the website. The contract note shall be final and binding proof of the order
placed by the Constituent, regardless of any apparent or alleged errors.
(d) All information contained in any confirmation, contract note or other communications shall be binding upon the
Constituent in relation to all transactions, whether the orders are given by the Constituent through the Web-Site or by
telephonic means or otherwise.

II.viii Charges

(a) The Constituent agrees to pay the brokerage charges, NSE/BSE related charges, statutory charges and any other
charges (including but not limited to security handling charges on settlement) as they exist from time to time and as they
apply to the Constituent's account, in respect of transactions and services that the Constituent receives from the Member.
The brokerage shall be paid in the manner intimated by the Member to the Constituent from time to time, including as a
percentage of the value of the trade or as a flat fee or otherwise, together with the service tax as may be applicable from
time to time on the same. The Constituent further agrees to pay any applicable taxes that may be levied on the transaction.
(b) The Member shall debit the charges of the depository participant for the trades and the bank charges for the realisation
of cheques etc. to the Constituent account.
(c) Notwithstanding anything contained in these Terms, any amounts which are overdue from the Constituent to the Member
will be charged delayed payment charges at the rate of [2%] per month or such other rate as may be determined by the
Member and notified on the web site and the Constituent hereby authorises the Member to directly debit the same to the
account of the Constituent.

II.ix Constituents Cash Credit and Securities Accounts

(a) The Member shall maintain such books of account in such manner so as to show and distinguish in connection with its
business as a trading member broker the moneys and securities received from or on account of each of the Constituents,
and the moneys and securities received on its own account.
(b) The Constituent is required to ascertain all ledger balances of moneys and securities standing to its credit, which would
be posted only on the relevant sections of the web site, and no separate intimation of the ledger balances of the Constituent
in his account would be sent to the Constituent either physically or electronically. The information as contained in the ledger
balances shall be binding upon the Constituent and the Constituent hereby agrees that the Member shall not be liable for
any loss, damage or claim on account of any error in the information contained in the ledger balances.
(c) All payments in respect of transaction made by the Constituent to the company shall be payable at Delhi , drafts and
cheques in that behalf shall be drawn in favour of the company and shall be payable at Delhi . Final settlement of
outstanding account in respect of transactions between the company and Constituent and periodical settlement and
termination of contract shall be struck and finalized at the company Head Office at Delhi .
(d) The Constituent hereby authorizes and empowers ISL to adjust all the debts/credits (funds/stocks) resulting from trading
transactions in any of the following segment of NSE/BSE vis-à-vis F&O, Equity, Depository with any cash segment (equity)
account and vice-versa in order to discharge any financial liability towards ISL in any segment.
(e) That the Constituent authorises the trading member to maintain a running account for adjustment of any debit/credit
resulting from any transactions by it/him/her in one settlement for adjustment towards it/her/his credit/debit in subsequent
settlements.
(f) All transactions with The Stock Exchange(s), will be subject to the rules, regulations and Bye-laws of that Exchange(s)
apart from the existing terms and conditions as mentioned thereof.
(g) To avoid any ambiguity it is hereby provided that notwithstanding anything contained in these Terms or in the Member-
Constituent Agreement or any other understanding or agreement between the Member and Constituent, the Member's own
records of the orders, cancellations, modifications, trades and transactions, in whatsoever manner maintained shall be
deemed to be and is hereby accepted by the Constituent as conclusive and binding on the Constituent for all purposes and
further the Constituent shall not challenge the accuracy, truth, or correctness of the said records in any manner and for any
purpose whatsoever.

II.viii Charges

(a) The Constituent agrees to pay the brokerage charges, NSE/BSE related charges, statutory charges and any other
charges (including but not limited to security handling charges on settlement) as they exist from time to time and as they
apply to the Constituent's account, in respect of transactions and services that the Constituent receives from the Member.
The brokerage shall be paid in the manner intimated by the Member to the Constituent from time to time, including as a
percentage of the value of the trade or as a flat fee or otherwise, together with the service tax as may be applicable from
time to time on the same. The Constituent further agrees to pay any applicable taxes that may be levied on the transaction.
(b) The Member shall debit the charges of the depository participant for the trades and the bank charges for the realisation
of cheques etc. to the Constituent account. (c) Notwithstanding anything contained in these Terms, any amounts which are
overdue from the Constituent to the Member will be charged delayed payment charges at the rate of [2%] per month or such
other rate as may be determined by the Member and notified on the web site and the Constituent hereby authorises the
Member to directly debit the same to the account of the Constituent.

II.ix Constituents Cash Credit and Securities Accounts

(a) The Member shall maintain such books of account in such manner so as to show and distinguish in connection with its
business as a trading member broker the moneys and securities received from or on account of each of the Constituents,
and the moneys and securities received on its own account.
(b) The Constituent is required to ascertain all ledger balances of moneys and securities standing to its credit, which would
be posted only on the relevant sections of the web site, and no separate intimation of the ledger balances of the Constituent
in his account would be sent to the Constituent either physically or electronically. The information as contained in the ledger
balances shall be binding upon the Constituent and the Constituent hereby agrees that the Member shall not be liable for
any loss, damage or claim on account of any error in the information contained in the ledger balances.
(c) All payments in respect of transaction made by the Constituent to the company shall be payable at Delhi , drafts and
cheques in that behalf shall be drawn in favour of the company and shall be payable at Delhi . Final settlement of
outstanding account in respect of transactions between the company and Constituent and periodical settlement and
termination of contract shall be struck and finalized at the company Head Office at Delhi .
(d) The Constituent hereby authorizes and empowers ISL to adjust all the debts/credits (funds/stocks) resulting from trading
transactions in any of the following segment of NSE/BSE vis-à-vis F&O, Equity, Depository with any cash segment (equity)
account and vice-versa in order to discharge any financial liability towards ISL in any segment.
(e) That the Constituent authorises the trading member to maintain a running account for adjustment of any debit/credit
resulting from any transactions by it/him/her in one settlement for adjustment towards it/her/his credit/debit in subsequent
settlements.
(f) All transactions with The Stock Exchange(s), will be subject to the rules, regulations and Bye-laws of that Exchange(s)
apart from the existing terms and conditions as mentioned thereof.
(g) To avoid any ambiguity it is hereby provided that notwithstanding anything contained in these Terms or in the Member-
Constituent Agreement or any other understanding or agreement between the Member and Constituent, the Member's own
records of the orders, cancellations, modifications, trades and transactions, in whatsoever manner maintained shall be
deemed to be and is hereby accepted by the Constituent as conclusive and binding on the Constituent for all purposes and
further the Constituent shall not challenge the accuracy, truth, or correctness of the said records in any manner and for any
purpose whatsoever.

II.x Authorization of Group/Family dealings If operation of account is to be treated jointly along with other
Constituent(s),then Annexure-10 should be signed by the Constituent and the Annexure shall be a part of the Member-
Constituent Agreement. The Constituent or any member of the family of the Constituent (for the purposes of this agreement '
family' shall hereinafter mean all individuals group companies, firms, entities and other persons as specified by the
Constituent as per Annexure-9) who may be registered as a Constituent with the Member under one or more of the following
segment(s): As a Share Trading Constituent for dealing in securities in one or more segment(s) including online and/or
offline trading in Capital Market Segment or Derivative Market Segment of The National Stock Exchange of India and Capital
Market Segment of Mumbai Stock Exchange and/or other Exchanges.
- As a Constituent holding Depository account with the Member.
- Or for any other product or service that may be offered and availed of in future.
The Constituent authorizes the Member to set off a part or whole of the collateral i.e. by way of appropriation of relevant
amount of cash or by sale or transfer of all or some of the securities placed as margin/collateral, and/or any credit in any
account of the Constituent or of the Member of the Family of the Constituent in any above mentioned segment with the
Member against the outstanding dues in the account of the Constituent and/or of the Member of the family of the Constituent
under this agreement and/or in any of the above mentioned segments of the Member.

II.xi Set off, lien, pledge, ALBM, etc.

(a) Nothing in the Terms or the Member-Constituent Agreement shall deprive the Member of any recourse or right, whether
by way of lien, set-off, counter-claim or otherwise against any money or security standing to the credit of the Constituent's
account.
(b) All the securities and monies credited to the account of the Constituent as maintained by the Member shall be subject to
a lien for the discharge of any obligation or indebtedness of the Constituent to the Member. In enforcing the lien the Member
shall have the sole discretion of determining the securities or assets that are to be liquidated and/or appropriated.
(c) The Member shall have the right to pledge the securities standing to the credit of the Constituent's account for the
purpose of raising any finance from any person as may be required to meet the Margin obligations of the Constituent.
Further Constituent hereby authorizes the Member to pledge any securities standing to its credit, to any person, whether
received by execution of an order for purchase or blocked pending the fulfillment of an order for sale or kept as margin with
the Member by the Constituent for the purpose of securing to the Member a credit facility in connection with meeting the
margin requirements of any other Constituent, provided that the Member shall be fully liable for any resultant failure of
execution or default on delivery obligations directly caused by such pledge of the securities.
(d) The Constituent shall indemnify and keep indemnified the Member harmless from and against all claims, demands,
actions, proceedings, losses, damages, liabilities, charges, and/or expenses that are occasioned or may be occasioned to
the Member directly or indirectly, owing to bad delivery of shares/securities and/or as a result of fake/forged/stolen
shares/securities/transfer documents that are introduced or that may be introduced by or through the Constituent during the
course of its dealings/operations on the Exchange(s).The Constituent confirms having read and understood the terms and
conditions of the Member Constituent Agreement and those relating to various services and products and accepts and
agrees to be bound by the terms and conditions including those excluding/limiting the Member's and Exchange's liabilities.

II.xii Further Documentation

The Constituent agrees to complete any further documentation that may be required in relation to any of the securities
dealings or by any of the regulatory authorities or under the Member's policies as may be notified from time to time or under
any law, regulation, guideline, rule, byelaw, order or other edict having the force of law.

II.xiii Compliance with Laws

All transactions that are carried out by and on behalf of the Constituent shall be subject to Government notifications, the
rules, regulations and guidelines issued by SEBI, the Reserve Bank of India and the National Securities Depository Limited,
the Central Depository Services Limited, the Securities Contracts Regulation Act and the rules made there under, and the
byelaws, constitution, rules, regulations, customs and usage of the NSE/BSE, if any.

II.xiv Running Account

The Constituent confirm to maintain running account for funds and securities with Member for both segments i.e. Capital
Market and F&O segments and the account so maintained shall not be settled on each settlement and the amount payable
or receivable shall remain in account subject to fulfillment of margin stipulations as envisaged in the agreement. No interest
shall be payable by the Member on such securities / funds so retained.

II.xv Arbitration

Any and all disputes arising out of or in connection with this agreement or its performance shall be settled by arbitration in
accordance with the By Laws of NSE/BSE as amended from time to time as the case may be;-

III. ADDITIONAL CONDITIONS IN RELATION TO ELECTRONIC ORDERS

III.i List of Dematerialised Securities

The Member shall notify the securities for which this facility is made available from time to time on the Web Site. The
Member would have the right to add or delete securities for which the facility is made available in its absolute discretion and
details of the same would be posted on the Web Site and no separate intimation whatsoever thereof will be sent to the
Constituent. The facility is made available in its absolute discretion and details of the same would be posted on the Web Site
and no separate intimation whatsoever thereof will be sent to the Constituent.

III.ii Protection of Constituent's Trading Password

The Constituent shall immediately notify the Member in writing, delivered via e-mail, Speed Post and Registered AD, if the
Constituent becomes aware of any loss, theft or unauthorized use of the Constituent's Trading Password and account
number; or any failure by the Constituent to receive an accurate written confirmation of an execution including the contract
note for the same; or any receipt by the Constituent of confirmation of an order and/or execution which the Constituent did
not place; or any inaccurate information in the Constituent's account balances, securities positions, or transaction history. In
the case where the Constituent notifies such loss, theft or unauthorized use of the Constituent's Trading Password to the
Member, the Member shall suspend the use of the account of the Constituent. However, the Constituent shall be responsible
and liable for all transactions that are carried out by the use of the Constituent Trading Password. When any of the above
circumstances occur, neither the Member nor any of its officers, directors, employees, agents, affiliates or subsidiaries will
have any responsibility or liability to the Constituent or to any other person whose claim may arise through the Constituent
with respect to any of the circumstances described above.

III.iii Secure Electronic Records and Digital Signatures

In the event that the certifying authorities and other infrastructure contemplated under the Information Technology Act, 2000,
for ensuring secure electronic records and secure digital signatures is notified by the concerned authorities and the
infrastructure to enable the same is in place, the Member would have the right to require the Constituent to authorize the
various transactions on the web site by means of such secure electronic records and secure digital signatures and
discontinue the usage of the Constituent's Trading Password.
III.iv Use of Constituent's Trading Password

The Constituent confirms and agrees that it will be the sole authorized user of the Trading Password /s to be given to it by
the Member. The Constituent accepts sole responsibility for use, confidentiality and protection of the Trading Password /s as
well as for all orders and information changes entered into the Constituent's account using such Trading Password. The
Constituent shall ensure that the Trading Password /s is/are not revealed to any third party or recorded in any written or
electronic form. If the Constituent forgets the Trading Password, a request for change of the Trading Password should be
sent to the Member in writing. On receipt of such a request the Member shall discontinue the use of the old Trading
Password and shall generate a new Trading Password for the Constituent, which shall be communicated to the Constituent.
However, the Constituent shall be responsible and liable for all transactions that are carried out by the use of the old Trading
Password. Neither the Member nor any of its officers directors employees agents affiliates or subsidiaries will have any
responsibility or liability to the Constituent or to any other person whose claim may arise through the Constituent with
respect to any of the circumstances described above.

III.v Form of Trading Password

The Constituent shall use a Trading Password of 6-14 characters in length, which can be a combination of letters and
numbers. The Trading Password shall not be a combination relating to name or age or other personal information, which
would render it easily deducible. The Trading Password shall be valid for a period of one month only. In the case where the
Constituent wishes to change his Trading Password he can do so on the Web Site in the prescribed manner.

III.vi Recording of Trading Password

The Constituent shall memorise the Trading Password and not record it in written or electronic form. In the event that the
Constituent does record the Trading Password in written or electronic form, he/she/it shall do so at his/her/its sole risk and
responsibility.

III.vii Responsibility for Use of the Trading Password

Any order entered using the Trading Password is deemed to be that of the Constituent. If third parties gain access to the
Member's services through the use of the Trading Password, the Constituent will be deemed to be responsible for the same
and hereby indemnifies and holds harmless the Member against any liability, costs or damages arising out of claims or suits
by or against such third parties based upon or relating to such access and use, since the primary responsibility for such
transaction shall be that of the Constituent.

III.viii Communications Equipment of the Constituent

The Constituent is responsible for installing and maintaining the communications equipment (including personal computers
and modems) and telephone or alternative services required at the Constituent's end and connectivity required for accessing
and using the web site or related services. All communications service charges, levies and fees incurred by the Constituent
in accessing the web site or related services will be borne by the Constituent.

III.ix Constituent's Infrastructure

For the purposes of these Terms, it is presumed that the Constituent has all the necessary and compatible infrastructure
ready at its end for the purpose of accessing the web site of the Member prior to accessing the services provided pursuant
to these Terms. The Member will not (and shall not be under any obligation to) assist the Constituent in installing the
required infrastructure or obtaining the necessary equipment permits and clearances to establish connectivity or linkages to
the web site of the Member.

III.x Prevention of Unauthorized Use

The Constituent will install the necessary safeguards and access restrictions to prevent unauthorized use of Constituents
computer systems and ensure that no unauthorized person can gain access to the computer systems.

IV. ADDITIONAL CONDITIONS IN RELATION TO ORAL ORDERS ON-LINE AND OFF-LINE

(a) The Constituent agrees and hereby authorizes the Member at its sole discretion and without any prior notice to the
Constituent, to record any conversation between the Constituent and the Member. Such recording shall be deemed to be
and is hereby accepted by the Constituent as conclusive and binding on the Constituent for all purposes and further the
Constituent shall not challenge the accuracy, truth, or correctness of the said records in any manner and for any purpose
whatsoever.
(b) The Constituent hereby agrees that the Member shall not be liable for any losses, damage or claim on account of
transactions effected by the Member on behalf of the Constituent arising from any incorrect or erroneous transfer or
collection of the order instructions from the Constituent.

V. MEMBER CONSTITUENT COMMUNICATIONS

V.i Form of Communication

Documents, which may be sent by electronic delivery between the parties, may be in any one or more of the following
manners

(a) An electronic mail ('e-mail') including any automated replies from the system of the Member.
(b) An electronic mail attachment, or
(c) In the form of an available download from the web site.
(d) By telephonic information duly recorded.
(e) By courier / speed post containing details of transaction confirmations, account statements requisition of any delivery
related documents on the last known address of the Constituent by telegrams/by under certificate of posting/by affixing it on
the door at the last known business or residential address.
(f) By post
(g) By registered post
(h) By advertising it, at least one prominent daily newspaper having circulation in the area where the last known business or
residential address of the Constituent is there. Any communication sent by the Member to the Constituent shall be deemed
to have been property delivered or served, even if such communication is returned to the Member as
unclaimed/refused/undelivered, if the same is sent to the ordinary business address and/or ordinary place of residence
and/or last known address of the Constituent, in any one of the one or more of the ways as mentioned above from (a) to (h).

V.ii Digitally Signed Documents

With the regulatory authorities allowing the usage of digitally signed contract notes and Bills, the constituent specifically
authorizes the Trading Member to make available these digitally signed documents on its portal and also authorizes the
Trading Member to send these documents by e-mail in future. The constituent further confirms that he/she/it does not need
any physical contract notes as the Trading Member is already making these documents available in a digitally signed format
on its portal and in future shall be sending these documents to him-her/it/by e-mail also. The following clauses shall govern
the use of digitally signed documents sent by the Member M/s INDIABULLS SECURITIES LTD.

( 1) Digitally Signed Contract Notes and Other Documents by Email-

(a) For the purpose of digitally signed contract notes by email, the email id specified by the constituent in the application
form or sent by and any later communication would by used.
(b) The constituent shall be provided with a 'Verifier software" utility to view the contract notes and other documents received
by email.
(c) The viewing of documents without the Verifier software utility is not valid. Any printouts of the contracts notes and other
documents which have been opened without using “Verifier Software” utility are also not legally valid documents.
(d) It shall be the duty of the constituent to check his/her/its email account and view the contract notes and other documents
sent to him/her/its. Email documents are taken to be delivered to the constituent if they leave the email server of ISL as per
guidelines specified by NSE/BSE and SEBI.
(e) The constituent shall be required to intimate ISL in case of non-receipt of documents by email within the stipulated time
period. Delay in delivery of email sent by ISL due to Network and Internet related problems, which are beyond the control of
ISL, is possible and the constituent shall construe such delay as normal.
(f) The constituent shall be required to intimate immediately to ISL in case of any change of email address.
(g) Non-delivery of the documents containing email due to the problems related to Network and Internet and due to any
problems in the email receiving at the end of constituent shall not be the responsibility of ISL.

( 2) Digitally Signed Contract Notes and Other Documents by Portal-

(a) The term 'Portal' here means any Internet portal or Website where the constituent can view these documents after login
id and password to log in to the said portal for viewing these documents after login as specified by ISL from time to time.
(b) The constituent shall be provided with a login id and password to log in to the said portal for viewing these documents.
(c) It shall be duty of the constituent to keep his/her/its password secret and not to make it available to any other person to
prevent misuse of information present in the documents.
(d) Upon login the constituent shall be able to view these documents after verifying them online using a "verify" button on the
Portal. A "Verifier Software" utility residing at the server end of the Portal would carry out this verification .
(e) The viewing of the documents without the "Verifier Software" utility is not valid .Any printouts of the contract notes and
the documents, which have been opened without using "Verifier Software" utility, are also not legally valid documents.
(f) Due to capacity constraints, it would not be possible to keep such documents ad-infinitum on the server. In such a case,
the documents older than three months would be removed and shall be made available to the constituents upon request.

V.iii Change of Address

Unless the Constituent informs the Member of the change of the address for communication in writing, all notices, circulars,
communication or mail sent to the existing address shall be deemed to have been received by the Constituent irrespective of
whether they are actually received or not.

V.iv Notices/ Policies

Certain policies and/or procedures may be further outlined on the Member's web site and material/literature and frequently
asked questions (FAQ's) may be provided to the Constituent. Through the use of the Member's web site and services, the
Constituent agrees to be bound by any and all such notices, policies and terms of doing business.

VI. TERMINATION

(a) The Member-Constituent Agreement and access to the use of the Web-Site, the Services, the Facilities and the Content
may upon notice of one month be terminated by mutual consent of the Constituent and the Member.
(b) The termination of the Member-Constituent Agreement and access to the use of the Web-Site, the Services, the Facilities
and the Content will not affect the rights and/or obligations of either the Member or the Constituent incurred prior to the date
of such termination and the parties shall enjoy the same rights and shall have the same obligations in respect of such
transactions.

VII. MISCELLANEOUS INFORMATION

VII.i Facilities and Web Content

(a) The Constituent acknowledges and agrees that each participating stock exchange or association or agency asserts a
proprietary interest in all of the market data it furnishes to parties that disseminate the said data. The Constituent shall use
real-time quotes received on the web site of the Member only for the Constituent's individual use and shall not furnish such
data to any other person or entity. The Constituent is authorized to use materials which are made available by the Member's
web site for the Constituent's own needs only, and the Constituent is not authorized to resell access to any such materials or
to make copies of any such materials for sale or use to and by others. The Constituent shall not delete copyright or other
intellectual property rights notices from printouts of electronically accessed materials from the Member's web site.
(b) All materials published on the Web-Site, including, without limitation, information, text, photographs, images, graphics,
software, audio, and video and/or other visual reproductions (hereinafter referred to as the “Content”) are intended solely for
personal, non-commercial use. All rights pertaining to the Content or any part thereof shall vest only in the relevant owners
of the same and no other person may modify, publish, transmit, participate in the transfer or sale of, reproduce (except as
provided herein), create derivative works from, distribute, perform, display or in any way exploit, any of the Content, in whole
or in part.
(c) All Content is owned or controlled by ISL or the party credited as the provider of such Content. The Content, and the
entire Web-Site, including without limitation all materials published by ISL and all postings on the Web-Site may be protected
by copyright pursuant to Indian copyright laws, international conventions, and other copyright laws. ISL owns a copyright in
the selection, coordination, arrangement and enhancement of such Content, as well as in the original component of the
Content itself. All persons visiting and/or using any of the Facilities on the Web-Site or viewing any of the Content thereof
(hereinafter such person shall be referred to as the “Visitor”, which term shall mean and include the Constituent in relation to
any use of the Facilities and Content) shall abide by all copyright notices, conventions, and other copyright laws. The Visitor
shall abide by all copyright notices, information or restrictions contained in any Content accessed by or through the Web-
Site. Reproduction of the Web-Site site, in whole or in part, without the prior written permission of ISL is strictly prohibited.
(d) To the extent that any part of the Content may be downloaded or copied, the same may be done only for personal non-
commercial purpose(s) and use(s), and provided that all copyright and other notices contained in such Content are faithfully
maintained and the Content shall not be stored in any media other than in the Visitor's personal computer. In the event any
software is downloaded from the Web-Site, such software, including without limitation any files, images incorporated in or
generated by the software, and data accompanying the software, are licensed to the Visitor by ISL for personal, non-
commercial use and viewing only. The software may not be redistributed, sold, decompliled, reverse engineered or
otherwise reduced to a human perceivable form. ISL retains full and complete title and rights to all intellectual property in
Web Site.
(e) ISL shall not be liable for truth, accuracy or completeness of the information or for any errors, mistakes or omissions
therein or for any delays or interruptions of such information for whatever cause. It is expressly understood and agreed to by
the Visitor that except as specifically provided herein, all warranties, express or implied, including any implied warranties or
merchantability and/or fitness for a particular purpose, are hereby excluded.

VII.ii Third Party Providers/Links

The Web Site may contain links to other web sites on the World Wide Web. ISL is not responsible for their resources or their
content or the availability thereof.

VII.iii Submissions

(a) The Visitor shall remain solely responsible for all submissions on and to the Web Site. ISL is not responsible for the
content or message of any submissions. ISL does not guarantee, and makes no formal representation or warranty as to, the
accuracy, veracity or completeness of any information provided by others in any portion or page of the Web-Site, nor does
ISL necessarily endorse, support, sanction, encourage, verify, agree with, or reject, diminish or disagree with, the comments,
opinions or statements posted by others on the Web-Site.
(b) While ISL does not and cannot review every message posted or item submitted to/on the Web-Site, ISL reserves the
right, in its sole discretion, but assumes no duty, to delete, move, or edit submissions that it deems false, inappropriate,
abusive, defamatory, obscene, in violation of copyright or trademark laws, or otherwise unacceptable, and the Visitor
expressly acknowledges and accepts that its submissions may be edited, removed, modified, published, re-published,
transmitted and displayed by ISL in its sole discretion.
(c) The Web Site and its Facilities including the discussion groups and chat rooms shall be used only in a non-commercial
manner. No part of the Web Site, discussion groups and/or chat rooms shall be used to solicit Visitors to become users of
commercial online information services or for any other commercial services. The Visitor shall not disrupt or interfere with
any aspect or element of the Web Site nor shall the Visitor do anything, which, in the sole judgment of ISL, will restrict or
inhibit any other Visitor from using and enjoying the Web Site and/or any of its Facilities. The Visitor shall not, without the
express written approval of ISL, post or otherwise distribute any material containing any solicitation of funds, advertising or
solicitation for goods or services. The Visitor shall not copy third party articles into the chat rooms or discussion groups
available on the Web Site. No Visitor shall tout or hype a stock or company, or post the same note on multiple occasions in a
single day (a practice known as 'spamming'). The Visitor shall not upload to, or otherwise submit or publish through, the
Web-Site any content or material which is libelous, defamatory, obscene, pornographic, abusive, or hateful, or which invades
anyone's privacy, encourages conduct that would constitute a criminal offense, or otherwise violates any third party rights or
local, state, federal or international law or regulation.
(d) Those Visitors with formal connections or affiliations to or with a company being discussed in any forum, including among
other things any and all positions of employment, directorships, consultancies and/or substantial share holdings, must
identify themselves as such, and disclose such connection or affiliation, within their first post in that topic, company focus, or
subject matter.
(e) The author or creator of any and all submissions in print or other forms or other uploads to the discussion groups and/or
chat rooms, transfers and assigns to ISL, by virtue of submission to the Web-Site and this agreement, the entire copyright,
throughout the universe, in any and all media and forms of publication, reproduction, transmission, distribution, performance,
or display, now in existence or hereafter developed, in such work or other original materials; without separate, retained or
reversionary rights being held by such author, creator or other person submitting such work. ISL may exercise the rights
granted herein in such from as it may in its sole discretion determine; such that the submitted material may be published,
reproduced, reprinted, distributed, performed, displayed, included in anthologies and compilations, and/or otherwise
transmitted (including but not limited to electronic and optical versions and in any other media now in existence or hereafter
developed) in whole or in part, whether or not combined with the work of others. In addition, ISL may use the name and
electronic address of the author, creator and/or other person submitting the work in publishing, promoting, advertising, and
publicizing their publications and information products and services, and in any merchandising.

VII.iv Warranties of Constituent

(a) The Constituent hereby represents and warrants that the terms and conditions of these Terms have been clearly
understood and that the information furnished to the Member is accurate and truthful.
(b) The Constituent confirms that it/he/she is of legal age and he/she/it has obtained the necessary approvals from the
relevant regulatory/ legal and compliance authorities to access the services provided pursuant to these Terms.

(c) The Constituent hereby confirms and warrants that the Member has put the Constituent on notice that the Member is
engaged in not only Constituent based trading but also in Pro-account trading.
VII.v Indemnity

(a) Though orders are generally routed to the marketplace shortly after the time the order is placed by the Constituent on the
system there may be a delay in the execution of the order due to any link/system failure at the Constituent / Member /
NSE/BSE's end. The Constituent hereby specifically indemnifies and holds the Member harmless from any and all claims,
and agrees that the Member shall not be liable for any loss, actual or perceived, caused directly or indirectly by government
restriction, exchange(s) or market regulation, suspension of trading, war, strike, equipment failure, communication line
failure, system failure, security failure on the Internet, shut down of systems for any reason (including on account of
computer viruses), unauthorized access, theft, any fraud committed by any person whether in the employment of the
Member or otherwise or any problem, technological or otherwise, that might prevent the Constituent from entering the
Member's system or from executing an order or in respect of other conditions .
(b) The Constituent further agrees that he/she/it will not be compensated by the Member for any "lost opportunity' viz.
notional profits on buy/sell orders which could not be executed or real loss from delay in executed orders due to any reason
whatsoever, including but not limited to time lag in the execution of the order or the speed at which the system of the
Member or of the Exchanges is operating or the delay in stock quotes or any shutting down by the Member of his system for
any reason or the Member disabling the Constituent from trading on his system for any reason whatsoever.

VII.vi Member's Liability

(a) Under no circumstances, including but not limited to negligence, shall the Member or anyone involved in creating,
producing, delivering or managing the Services be liable for any direct, indirect, incidental, special or consequential
damages, even if the Member or such person has been advised of the possibility of such damages, that result from the use
of or inability to use the service, delay in transmission of any communication, in each case for any reason whatsoever
(including on account of breakdown in systems) or out of any breach of any warranty or due to any fraud committed by any
person whether in the employment of the Member or otherwise.
(b) The Constituent agrees to fully indemnify and hold harmless the Member for any losses arising from the execution of
incorrect/ ambiguous or fraudulent instructions that got entered through the system at the Constituent's end.

VII.vii Limitation of liability

The Member does not guarantee, and shall not be deemed to have guaranteed, the timeliness, sequence, accuracy,
completeness, reliability or content of market information, or messages disseminated to the Constituent. The Member shall
not be liable for any inaccuracy, error or delay in, or omission of, (1) any such data, information or message, or (2) the
transmission or delivery of any such data, information or message; or any loss or damage arising from or occasioned by (i)
any such inaccuracy, error, delay or omission, (ii) nonperformance, or (iii) interruption in any such data, information or
message, due either to any act or omission by the Member or to any "force majeure" event (e.g., flood, extraordinary
weather condition, earthquake or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government,
communications, power failure, shut down of systems for any reason (including on account of computer viruses), equipment
or software malfunction), any fraud committed by any person whether in the employment of the Member or otherwise or any
other cause beyond the reasonable control of the Member.

The above Force Majeure events do not exempt the Constituent to fulfill the obligations in his/her/its account with the
Member. The provisions of this agreement shall always be subject to government notifications, and rules, regulations &
guidelines issued by SEBI & stock exchange(s) rules, regulations & byelaws that may be in force from time to time & the
securities contract regulation Act. The Rules thereunder and any other applicable statutory provisions and/ or regulations.

VII.viii Interruption in service

The Member does not warrant that the service will be uninterrupted or error free. The service is provided on 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 Constituent agrees that the Member shall not be held responsible
for any breakdown of the system either due to the fault of the systems of the Member or of the Exchanges or otherwise.for
any breakdown of the system either due to the fault of the systems of the Member or of the Exchanges or otherwise.

VII.ix Amendment/ Modification of the Terms

The Member may at any time amend these Terms, by modifying or rescinding any of the existing provisions or conditions or
by adding any new provision or condition, by conspicuously posting notice of such amendment on the web site. The Member
shall not be required to communicate any modification or rescission to the Constituent either through physical or electronic
form, and any notice of amendment or modification is hereby waived by the Constituent. The continued use of the services
of the Member after such notice will constitute acknowledgment and acceptance of such amendment. These Terms (as
amended or modified from time to time) represent the entire agreement between the Constituent and the Member
concerning the subject matter hereof. The continued use of the Services by the Constituent constitutes the Constituent's
acceptance of any and all modifications and amendments of the Terms. However, the Constituent has the right to terminate
the agreement through communication in writing as per the termination clause subject to the meeting of the financial and
other obligations under this agreement.

VII.x Severability

If any provisions or of these Terms are held invalid or unenforceable by reason of any law, rule, administrative order or
judicial decision by any court, or regulatory or self-regulatory agency or body, such invalidity or unenforceability shall attach
only to such provision or terms held invalid. The validity of the remaining provisions and terms shall not be affected thereby
and these Terms shall be carried out as if any such invalid or unenforceable provisions or terms were not contained herein.

VII.xi No Assignment

The rights of the Constituent under these Terms are not transferable under any circumstances and shall be used only by the
Constituent.

VII.xii Authorized Representative

The instructions issued by an authorized representative of the Constituent shall be binding on the Constituent in accordance
with the letter authorizing the said representative to deal on behalf of the Constituent.

VII.xiii Death or Insolvency

In the event of death or insolvency of the Constituent or of its otherwise becoming incapable of receiving and/or paying for or
delivering or transferring securities which the Constituent has ordered to be bought or sold, the Member may close out the
transaction of the Constituent and the Constituent or its legal representative shall be liable for any losses, costs and be
entitled to any surplus which may result there from.

VII.xiv Dispute Resolution

(a) The Member and the Constituent are aware of the provisions of the bye laws rules and regulations of the NSE/BSE
relating to the resolution of the disputes/differences through the mechanism of arbitration provided by the Exchanges and
agree to abide by the said provisions insofar as any disputes under these Terms relate to transactions that are to be carried
out on the exchanges.
(b) In so far as any other disputes or differences in connection with these Terms or their performance (other than the
disputes referred to in Paragraph (a) above) are concerned such disputes shall, so far as it is possible, be settled amicably
between the Parties and in the case where after 30 days of consultation, the parties have failed to reach an amicable
settlement, such disputes shall be submitted to arbitration and such arbitration shall be conducted in accordance with the
Indian Arbitration and Conciliation Act, 1996 (the “Arbitration Act”) by a panel consisting of a sole arbitrator. The Member and
the Constituent expressly consent and agree that the Chairman, of Member shall be the persona designate to appoint the
dais sole arbitrator. The venue of arbitration shall be Mumbai and each party shall bear the cost of arbitration equally unless
otherwise awarded by the sole arbitrator.
(c) The member maintains offices at different places within the knowledge of the Constituent and the Constituent shall have
all transaction with the principle office, but they may also avail facility at its branches as well. Branch Managers shall also
have the power to recover payments or make the payments on behalf of the principles to such Constituents after obtaining
the instruction in this behalf and may give acknowledgement of such transaction on behalf of the head office. However all
transaction may be entered at branches shall be treated as transaction being done with the principle office and all
information shall remain with the Member at New Delhi .

VII.xv 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 Web Site 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 Web Site.
VII.xvi General

(a) Notwithstanding anything contained in these Terms or in the Member-Constituent Agreement, ISL/Member retains its
right to:
(i) In its sole discretion to alter, limit or discontinue the Website or any Materials in any respect. ISL shall have no obligation
to take the needs of any user into consideration in connection therewith.
(ii) Deny in its sole discretion any user access to this Website or any portion thereof without notice.
(b) No waiver by ISL of any provision of this Agreement shall be binding except as set forth in writing signed by its duly
authorised representative.

VII.xvii Other General Terms and Conditions.

(a) The Constituent agrees to abide by the ISL's Terms and Conditions and rules in force and changes in Terms and
Conditions from time to time relating to their account.
(b) The Constituent agrees that the ISL will be at liberty to close their account any time without assigning any reason
whatsoever.
(c) The Constituent agrees that the ISL can, at its sole discretion, withdraw any of the services/facilities given in their
account either wholly or partially at any time without giving them any notice.
(d) The Constituent agrees that any change in their account status or change of address will be immediately informed to the
ISL.
(e) The Constituent agrees that all instructions relating to their account will be issued in writing satisfactory to the ISLISL in
form and content.
(f) The Constituent agrees that they shall not pay any amount in cash to any Sales Representative of the ISLISL at the time
of opening an account or carrying out any transaction in the normal course of the business. ISL shall not be responsible for
any loss on account of cash payment by the constituent being contrary to instruction of ISL.
(g) The Constituent agrees to accept the format provided by the ISLISL in order to execute their fax instructions to
theISLISL.
(h) The Constituent agrees that the ISLISL will send them communications/letters etc. through courier / messenger/mail or
through any other mode at its discretion and the ISLISL shall not be liable for any loss or delay arising there from.
(i) The Constituent agrees that the Pass Words will be dispatched by courier (or any other mode at theISLISL's discretion) at
their risk and consequence.
(j) The Constituent shall not hold theISLISL liable in any manner what so ever in respect of such dispatch of these items.
(k) An account may be opened on behalf of a minor by his/her natural guardian or by a guardian appointed by a court of
Competent Jurisdiction. The guardian shall represent the minor in all transactions of any description in the above account
until the said minor attains majority. Upon the minor attaining majority, the right of the guardian to operate the account shall
cease. The guardian agrees to indemnify the ISLISL against the claim of above minor for any ithdrawal/transactions made
by him in the minor's account.
(l) The Constituent agrees and undertakes to ensure that there would be sufficient funds/cleared balance/pre-arranged credit
facilities in their account for effecting transactions. The Constituent agrees that the ISLISL shall not be liable for any
consequences arising out of non-compliance by the ISLISL of my/our/its instructions due to inadequacy of funds and the
IISLISL can at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds. The ISLISL
may do the aforesaid without prior approval from or notice to the Constituents and the Constituents shall be liable to repay
with interest the resulting advance, overdraft or credit thereby created and all related charges arising thereby @ 24%
compounded daily basis. The Constituent hereby authorizes the Member to directly debit the same to the account of the
Constituent at the end of each month. The Constituent also authorizes the Member to debit charges for Depository Services
to the trading account.
(m) The Constituent agrees that the ISL shall not be liable for any damages, losses (direct or indirect) whatsoever, due to
disruption or non availability of any of services/facility/s due to technical fault/error or any failure in telecommunication
network or any error in any software or hardware systems. (n) The Constituent agrees that the ISL may disclose customer
information, in strict confidence, to any of its agent/s and/or contractors with whom the ISL enters or has entered into any
arrangement in connection with providing of services.

VII.xviii Accounts

The Constituent agrees to repay to the ISL on demand, unconditionally, the amounts of overdrafts or excesses against
margin deposit that the ISL may grant it/he/her from time to time, together with interest accrued thereon. The Constituent
agrees that this does not imply that the ISL is bound to grant them any credit facility whatsoever.

VIII. ELECTRONIC PAYMENT GATEWAY

VIII.i Definitions and Interpretations:

"Electronic Payment Gateway for Netbanking Terms and Conditions" shall mean the terms and conditions as modified from
time to time applicable to Electronic Payment Gateway for Netbanking offered through the ISL in the HDFC or other bank a/c
and accepted by the customer; "Confidential Information" refers to information obtained by the customer, through the ISL ,
for the effective availment of Services or Payment Instruction Services" Electronic Payment Gateway for Netbanking
services. "Payment Instruction" shall mean an instruction given by a Customer to transfer funds from the Account held by the
Customer to the account of ISL.

VIII.ii Internet

Internet refers to the network of computers / mobile phones / other electronic devices which share and exchange(s)
information. The Internet is at once a worldwide broadcasting capability, mechanism for information dissemination, and a
medium for collaboration and interaction between individuals and their computers / mobile phones / other electronic

VIII.iii Electronic Payment Gateway for Netbanking Services

Electronic Payment Gateway for Netbanking Services is the ISL's Service which provides access to account information, the
Internet with the help of concerned bank. The terms Electronic Payment Gateway for Netbanking and Electronic Payment
Gateway for Netbanking services/facility may be interchangeably used.

VIII.iv Customer

Customer refers to any person who has an ISL Account and who has been authorised by the ISL to avail of the said facility.

VIII.v Account

Account refers to the Customer's Savings and/or Current Account to which access is to be obtained through Electronic
Payment Gateway for Netbanking.

VIII.vi Personal Information

Personal Information refers to the information about the Customer obtained in connection with Electronic Payment Gateway
for Net banking or otherwise.

VIII.vii Application for Electronic Payment Gateway for Netbanking

The ISL may offer Electronic Payment Gateway for Netbanking to selected Customers at its discretion in collaboration with
the concerned bank. The Constituent agrees that in order to be eligible for Electronic Payment Gateway for Netbanking
it/he/she would need to be a current Internet user or have access to the Internet and knowledge of how the Internet works
and have Net Banking facility with its/his/her bank. The Constituent accepts that the application for Electronic Payment
Gateway for Netbanking does not automatically imply acceptance by the ISL .

VIII.viii Software

The ISL or the concerned bank will advise from time to time the Internet software such as Browsers, which are required for
using Electronic Payment Gateway for Netbanking. There will be no obligation on the ISL to support all the versions of this
Internet software. The Constituent agrees that the Constituent shall be responsible for upgrading their software, hardware
and the operating system at their cost from time to time so as to be compatible with that of the ISL . The ISL or the bank
shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc., from time to time and shall be
under no obligation to support the software, hardware, operating systems used by the Constituent and that the same shall
be their sole responsibility.

VIII.ix Electronic Payment Gateway for Netbanking Service

(a) The ISL shall endeavor to provide through Electronic Payment Gateway for Netbanking, such services as the ISL may
decide from time to time. The ISL reserves the right to decide the type of services which may be offered on each account
and may differ from customer to customer. These facilities shall be offered in a phased manner at the discretion of the ISL.
The ISL may also make additions / deletions to the services offered through Electronic Payment Gateway for Netbanking at
its sole discretion. The availability / non-availability of a particular service shall be advised through e-mail or web page of the
ISL or written communication.
(b) In case of Joint accounts and accounts with two or more signatories, the ISL will offer such services as restricted by the
terms and conditions governing the operation of such accounts.
(c) In case of Minor accounts, the natural guardian undertakes to give all instructions relating to the operation of the account
and further undertakes not to reveal the Customer ID and Password to the minor.
(d) The ISL shall take reasonable care to ensure the security of and prevent unauthorized access to the Electronic Payment
Gateway for Netbanking service using technology reasonably available to the ISL.
(e) The Constituent agrees that it/he/her shall not use or permit to use Electronic Payment Gateway for Netbanking or any
related service for any illegal or improper purposes.

VIII.x Electronic Payment Gateway for Netbanking Access

(a) The Constituent understands that the ISL would allot them a Customer-ID and password for their account, which will
enable them to have excess to Electronic Payment Gateway for Netbanking to perform Netbanking for bank account. The
Constituent will be required to change the password assigned by the ISL on accessing Electronic Payment Gateway for
Netbanking for the first time. As a safety measure the Constituent changes the password as frequently thereafter as
possible. In the absence of any specific request from them for personally collecting the Password, the Password shall be
sent to the Constituent by courier at its/his/her risk and consequences to the address notified by them for correspondence,
and the ISL shall be not liable or held responsible in any manner whatsoever, if the Password falls in the hands of
unauthorized person/s.
(b) In addition to Customer-ID and Password the ISL may, at its discretion, require the Constituent to adopt such other
means of authentication including but not limited to digital certification and / or smart cards. The Constituent agrees that
it/he/she shall not attempt or permit others to attempt accessing the account information stored in the computers of the ISL
through any means other than the Electronic Payment Gateway for Netbanking service. The Constituent is aware that the
transaction through Electronic Payment Gateway for Netbanking can be effected by use of their password for their ISL
account and passwords for Net Banking for the operation of their bank account for Net Banking. The Constituent shall not
request /demand any evidence of proof for transactions undertaken through the Net and the audit trail of the log-in would be
conclusive proof to establish that the transactions are bonafide.

VIII.xi Password

The Constituent understands and agrees that it/he/she must:

(a) Keep the password totally confidential and not reveal the password to any third party
(b) Choose a password that shall consist of a mix of alphabets, numbers and special characters, which must not relate to
any readily accessible personal data such as it/his/her name, address, telephone number, driver license etc. or easily
guessable combination of letters and number
(c) Commit the password to memory and not record them in a written or electronic form, and

(d) Not let any unauthorized person have access to their computer or leave the computer unattended while accessing
Electronic Payment Gateway for Netbanking.
(e) In case the Constituent forgets the password for their account in the ISL, it/he/she can request for change of the
password. Such replacement shall not be construed/deemed as the commencement of a new contract.

VIII.xii Transaction Processing

All the requests for instantaneous transactions will be given effect to instantaneously. In case requests for effecting any
transactions are received on weekly offs/holiday/public holidays, with ISL/NSE & bank, they shall be effected on the
immediately succeeding working day on the terms and conditions prevailing on that day.The Constituent shall not hold the
ISL or the bank responsible for not processing/effecting any transactions in case the ISL does not receive instruction to this
effect even though they have forwarded the same. The Constituent hereby agrees to abide by the following terms and
conditions in addition to the terms and conditions as applicable to Electronic Payment Gateway for Netbanking:

(a) The Constituent shall be free to utilize the Payment Instruction Services through Electronic Payment Gateway for
Netbanking for transfer of funds for such purpose, as they shall deem fit.
(b) The Constituent however agrees not to use or permit the use of the Payment Instruction Services or any related services
for any illegal or improper purposes. Whilst utilizing the Payment Instruction Services for making any payments for any
services obtained whether on-line or otherwise, they shall ensure that.
(c) The Constituent has the full right and/or authority to access and avail of the services obtained and they shall observe and
comply with the applicable laws and regulations in each jurisdiction in applicable territories. They shall not access to
family/relatives/friends or any other person's account through this gateway facility for transfer of funds and if done so then
the Constituent shall be solely responsible for the said transfer of funds. And further undertake if any such claim is made by
the third party so effected then they shall be solely responsible and not ISL in any manner.
(d) The Constituent shall not involve the ISL as a party to such transaction.
(e) The Constituent shall provide the ISL with such information and/or assistance as is required by the ISL for the
performance of the Services and/or any other obligations of the ISL under this Agreement.
(f) The Constituent shall not at any time provide to any person, with any details of the accounts held by me/us with the ISL
including, the passwords, account number which may be assigned to me/us by the ISL from time to time.

VIII.xiii Risks

The Constituent hereby acknowledges that it/he/she is availing the Payment Instruction Service at it/his/her own risk. These
risks would include but not be limited to the following risks:
(a) Misuse of Password: The Constituent acknowledges that if any third person obtains access to their password of the
Customer, such third person would be able to provide Payment Instructions to the ISL. They shall ensure that the terms and
conditions applicable to the use of the password as contained in the Electronic Payment Gateway for Net Banking Terms
and Conditions are complied with at all times.
(b) Internet Frauds: The Internet per se is susceptible to a number of frauds, misuse, hacking and other actions, which could
affect Payment Instructions to the ISL. Whilst the ISL shall aim to provide security to prevent the same, there cannot be any
guarantee from such Internet frauds, hacking and other actions, which could affect Payment Instructions to the ISL The
Constituent shall separately evolve/ evaluate all risks arising out of the same.
(c) Mistakes and Errors: The filling in of applicable data for transfer would require proper, accurate and complete details. For
instance, the Constituent is aware that they would be required to fill in the account number of the ISL to whom the funds are
to be transferred. In the event of any inaccuracy in this regard, the funds could be transferred to incorrect accounts and
there is no guarantee of recovery thereafter. The Constituent shall therefore take all care to ensure that there are no
mistakes and errors and that the information given by me/us to the ISL in this regard is error free, accurate, proper and
complete at all points of time. On the other hand in the event of my Account receiving an incorrect credit by reason of a
mistake committed by some other person, the ISL or the bank shall be entitled to reverse the incorrect credit at any time
whatsoever without the consent of the Customer I/We shall be liable and responsible to ISL and accede to accept the ISL 's
instructions without questions for any unfair or unjust gain obtained by me as a result of the same.
(d) Transactions: The transactions, which the Constituent may require, the transfer of the funds may not fructify The ISL is
merely providing it/him/her services whereby the said funds would be transferred from their instructions.
(e) Technology Risks: The technology for enabling the transfer of funds and the other services offered by the ISL could be
affected by virus or other malicious, destructive or corrupting code, programme or macro. It may also be possible that the
site of the ISL or the bank may require maintenance and during such time it may not be possible to process the request of
the Customers. This could result in delays in the processing of instructions or failure in the processing of instructions and
other such failures and inability. The Constituent understands that the ISL disclaims all and any liability, whether direct or
indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by the ISL to honour any
customer instruction for whatsoever reason. The Constituent understands and accepts that the ISL shall not be responsible
for any of the aforesaid risks. The Constituent also accepts that the ISL shall disclaim all liability in respect of the said risks.
(f) Limits: The Constituent is aware that the ISL may from time to time impose maximum and minimum limits on funds that
may be transferred by virtue of the payment transfer service given to it/him/her hereunder. The Constituent realises and
accepts and agrees that the same is to reduce the risks on it/him/her. For instance, the ISL may impose transaction
restrictions within particular periods or amount restrictions within a particular period or even each transaction limits. The
Constituent shall be bound by such limits imposed and shall strictly comply with them.
(g) Indemnity: The Constituent shall indemnify the ISL from and against all losses and damages that may be caused as a
consequence of breach of any of the Electronic Payment Gateway for Netbanking Terms and Conditions and the terms and
conditions mentioned herein above.
(h) Withdrawal of Facility: The ISL shall be entitled to withdraw this service at any time whatsoever
(i) Charges: The Constituent hereby agrees to bear the charges as may be stipulated by the ISL from time to time for
availing of these services.
(j) Binding nature of above terms and conditions: The Constituent agrees that by use of this facility, the Constituent shall
deemed to have agreed to all the above terms and conditions and such terms and conditions shall be bound on it/him/her in
the same manner as if it/he/she has agreed to the same in writing.

IX. AUTHORITY TO THE ISL

(a) Electronic Payment Gateway for Netbanking transactions in the Customer's Account(s) are permitted only after
authentication of the Customer-ID and Password. The Constituent agrees that they grant express authority to the ISL or the
bank for carrying out transactions performed by them through Electronic Payment Gateway for Netbanking. The ISL shall
have no obligation to verify the authenticity of any transaction received from the Constituent through Electronic Payment
Gateway for Netbanking or purporting to have been sent by them via Electronic Payment Gateway for Netbanking other than
by means of verification of their Customer-ID and the password.
(b) The display or printed output that is produced by the Constituent at the time of operation of Electronic Payment Gateway
for Netbanking is a record of the operation of the internet access and shall not be construed as the ISL's record of the
relative transactions. The ISL's or bank own record of transactions maintained through computer systems or otherwise shall
be accepted as conclusive and binding for all purposes unless any discrepancy is pointed out within one week from the date
of access or from the date of sending the periodical statement, whichever is earlier.
(c) All transactions arising from the use of Electronic Payment Gateway for Netbanking, to operate a joint account, shall be
binding on all the joint account holders, jointly and severally.

X. ACCURACY OF INFORMATION

The Constituent agrees that it/he/she are responsible for the correctness of information supplied to the ISL through the use
of Electronic Payment Gateway for Netbanking or through any other means such as electronic mail or written
communication. The ISL accepts no liability for the consequences arising out of erroneous information supplied by them. The
Constituent agrees that if it/he/she notice any error in the account information supplied to it/him/her through Electronic
Payment Gateway for Netbanking or by the use of any of the Electronic Payment Gateway for Netbanking services, the
Constituent shall advise the ISL & bank as soon as possible. The ISL will endeavor to correct the error promptly.

XI. LIABILITY

The Constituent complies with the Terms and advise the ISL and the bank in writing under acknowledgment immediately
afterit/he/she suspect that their Customer-ID or password is known to another person and/or notice an unauthorized
transaction in their Electronic Payment Gateway for Netbanking account. The Constituent agrees that it/he/she shall be
liable for some or all loss from unauthorized transactions in the Electronic Payment Gateway for Netbanking accounts if
it/he/she has breached the Terms or contributed or caused the loss by negligent actions such as the following:
(a) Keeping a written or electronic record of Electronic Payment Gateway for Netbanking password.
(b) Disclosing or failing to take all reasonable steps to prevent disclosure of the Electronic Payment Gateway for Netbanking
password to anyone including ISL staff and/or failing to advise the ISL of such disclosure within reasonable time.
(c) Not advising the ISL and the bank in a reasonable time about unauthorized access to or erroneous transactions in the
Electronic Payment Gateway for Netbanking accounts. The ISL shall in no circumstances be held liable to the Customer if
Electronic Payment Gateway for Netbanking access is not available in the desired manner for reasons including but not
limited to natural calamity, floods, fire and other natural disasters, legal restraints, faults in the telecommunication network or
Internet or network failure, software or hardware error or any other reason beyond the control of the ISL. The ISL shall under
no circumstances shall be liable for any damages whatsoever whether such damages are direct, indirect, incidental,
consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit,
interruption of business or any other loss of any character or nature whatsoever and whether sustained by the Constituent.

XII. DISCLOSURE OF PERSONAL INFORMATION

The Constituent agrees that the ISL or its contractors may hold and process the Constituent's Personal Information on
computer or otherwise in connection with Electronic Payment Gateway for Netbanking services as well as for statistical
analysis and credit scoring. The Constituent also agrees that the ISL may disclose, in strict confidence, to other institutions,
such Personal Information as may be reasonably necessary for reasons inclusive of, but not limited to, the following
(a) For participation in any telecommunication or electronic clearing network in compliance with a legal directive.
(b) For credit rating by recognized credit scoring agencies.
(c) For fraud prevention purposes.

XIII. ISL'S LIEN

The ISL shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the
deposits held in the Constituent accounts and stocks whether in single name or joint name(s), group account to the extent of
all outstanding dues, whatsoever, arising as a result of the Electronic Payment Gateway for Netbanking service extended to
and/or used by them.

XIV. NON-TRANFERABILITY

The grant of facility of Electronic Payment Gateway for Netbanking to them is not transferable under any circumstance and
shall be used only by the Constituent.

XV. TERMINATION OF ELECTRONIC PAYMENT GATEWAY FOR NETBANKING SERVICE

(a) The Constituent may request for termination of the Electronic Payment Gateway for Netbanking facility any time by giving
a written notice of at least 15 days to the ISL. The Constituent agrees that they will remain responsible for any transactions
made on their Electronic Payment Gateway for Netbanking account(s) through Electronic Payment Gateway for Netbanking
prior to the time of such cancellation of the Electronic Payment Gateway for Netbanking Service
(b) The closure of all their Accounts will automatically terminate the Electronic Payment Gateway for Netbanking service.
(c) The ISL may suspend or terminate Electronic Payment Gateway for Netbanking facilities without prior notice if these
terms and conditions are breached or even otherwise without assigning any reason.

XVI. NOTICES

The ISL and the Constituent may give notices under these Terms and Conditions:

(a) Electronically to the mailbox of either party. Such notices will be regarded as being in writing.In writing by delivering them
by hand or by sending them by post to the last address given by them and in the case of the ISL to the following address: F-
60, Malhotra Buliding, Connaught Place, New Delhi -110001.
(b) In addition, the ISL may also publish notices of general nature, which are applicable to all Customers of Electronic
Payment Gateway for Netbanking on its web site. Such notices will have the same effect as a notice served individually to
the Constituent

XVII. GOVERNING LAW

These terms and conditions and/or the operations in the accounts of the Customer maintained by the ISL and/or the use of
the services provided through Electronic Payment Gateway for Netbanking shall be governed by the laws of the Republic of
India and no other nation. The Customer and the ISL agree to submit to the exclusive Jurisdiction of the Courts located in
Delhi , India as regards any claims or matters arising under these terms and conditions. The ISLs accepts no liability
whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India . The mere
fact that the Electronic Payment Gateway for Netbanking Service can be accessed through Internet by a Customer in a
country other than India shall not be interpreted to imply that the laws of the said country govern these terms and conditions
and/or the operations in the Electronic Payment Gateway for Netbanking accounts of the Customer and/or the use of
Electronic Payment Gateway for Netbanking.

XVIII. GENERAL

The clause headings in this agreement are only for convenience and do not effect the meaning of the relative clause. The
Constituent shall not assign this agreement to anybody else. The MEMBER may subcontract and employ agents to carry out
any of its obligations under this contract.

This agreement is severable in respect of trades/ orders executed by the Member at NSE/BSE or any other Stock
Exchange. In the event any provision of the agreement is ound to be invalid or unenforceable in relation to any of the
Stock Exchanges at which the trades/ orders are executed, this agreement shall be severable and the same shall continue
to be valid and enforceable in relation to other Stock Exchanges. The agreement is being executed in full sense after
understanding the reduced terms and conditions herein above.

IN WITNESS THEREOF, the Parties have entered into this agreement the day and year first above written.