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E-Invest AOF Part C

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Sr. No.Contents Brief Description Page Nos.

Ver. 627MANDATORY DOCUMENTS AS PRESCRIBED BY SEBI & EXCHANGES/

REGULATORS

1. General Information Is a confirmation fromyou on the stated 1points.

2. Details of the Captures your demoapplicants graphic and other 3(Know your client) details necessary for

account opening 3. ICICI direct.com KYC form - Document

Account opening captures the detailsForm basic information

about the constituent,additional information 3about the constituentrelevant to tradingaccount and aninstruction /check list.

4. Bank & Demat Captures your BankAccount Details and demat account

details. You may 4also apply for openinga new bank or demataccount in this section.

INDEX FOR PART A

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Sr. No. Contents Brief Description Page Nos.

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5. Schedule of Charges(Tariff Sheet) Document detailing

the rate/amount ofbrokerage and othercharges levied on the 7client for tradingon the stock exchange(s). Also containsthe charges applicableto your Bank account

6. Declaration for no Required to be filled ifnomination in you do not wish makeBank / Demat a nomination in youraccount bank or demat account 9

7. Letter For Name Name variation Letter:Variation Required in case

name in the applicationis not same as 10mentioned in thePAN or other KYCDocumentthe customer

INDEX FOR PART B VOLUNTARY DOCUMENTS AS PROVIDED BY ICICI SECURITIES LIMITED

1 Power of Attorney Confers limited rightson I-Sec to debit /credit / block / unblock 13-14

funds and securitiesin your linked demat/bank account withrespect to yourtransactions.

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INDEX FOR PART C MANDATORY DOCUMENTS AS PRESCRIBED BY SEBI & EXCHANGES / REGULATORS 1 Rights and Obligation Document stating the

Rights & Obligations ofstock broker/trading membersub-broker and client fortrading on exchangesincluding additional rights 6-15& obligations in case ofinternet/wireless technologybased trading.

2 Rights and Obligation Document stating Rightsof Stock broker and and Obligation of StockClients and T & C for Broker client and T & C 16-35Trading in Margin for Trading in MarginTrading Facility Trading Facility.

3 Risk Disclosure Document detailing risksDocument associated with dealing in 36-42

the securities market 4 Policy and Lists certain policies and

Procedures procedures of ICICI 43-47Securities Limited significantto your trading account

5 Guidance Note Document detailing do’sand don’ts for trading on 48-51exchange, for the educationof the investors.

6 Rights And Prescribed by the regulator.Obligation Of Beneficial Mandatory andOwner And Depository binding on all clients andParticipant depository participants. 52-57

Lays down the basic rightsand obligations of the clientand the DP to demat account.

7 Schedule of Charges Lists the fees / brokerage(Tariff Sheet) and other charges applicable

on transactions effectedthrough your account. Also 58-64contains the chargesapplicable to your Bank,Demat and Trading account

VOLUNTARY DOCUMENTS AS PROVIDEDBY ICICI SECURITIES LIMITED

1 Letter of Lists the Terms andConfirmation Conditionsapplicable to the

Trading account, bank 66-116account and demat account

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1. Please note, your application would be completed only after Part A and Part B are dulyfilled. The account(s) applied for, by you, would be opened only after satisfactoryprocessing of Part A as well as Part B. In the event either of the Parts is incomplete orrejected, we would not be able to process your application further.

2. Address should be filled by the customer even if KRA KYC complied, so as to verifywhether your latest details is updated in KRA records. In case of Address mismatchcustomer is required to fill KRA form and provide address proof.

3. The new ICICI Bank account or the existing ICICI Bank account which is linked to demataccount would be mapped for Corporate benefits

4. For any grievance/dispute please contact ICICI Securities Limited at the above addressor email id headservicequality@icicidirect.com or Call Customer care number given onour website. In case not satisfied with the response, please contact the concernedexchange(s) at NSE : ignse@nse.co.in , Phone : 022-26598190, BSE : is@bseindia.com, Phone : 022-22728097. For Customer grievance relating to Demat a/c please write toheaddematservices@icicibank.com and Bank a/c please write to ICICI Bank at :headservicequality@icicibank.com

Participant Name - ICICI Bank Limited, Address - ICICI Bank Limited, ICICIBank Demat Services, ICICI Bank Tower, Ground floor, B Wing, AutumnEstate, Chandivali Farm Road, Opp Mhada Colony, Chandivali, Andheri

(East), Mumbai - 400072, INDIA. DP ID - NSDL IN303028, CDSL 16014301

Trading and Clearing Member’s Name ICICI Securities Limited Registered Office Address (Institutional) ICICI Centre, H. T. Parekh

Marg, Churchgate,Mumbai - 400 020, India,Tel.:022-22882460/70Fax : 022-22826455

Correspondence / Corporate Address Shree Sawan Knowledge(Retail) Park, Plot No. D-507, T.T.C.Ind.

Area, M.I.D.C.,Opp. JuinagarRailway Station, Navi Mumbai –400 705 Tel: 022-40701000Fax : 022-40701022

Name of Compliance Officer : Mrs. Anoop Goyal, Tel : 022-40701000, Email id : complianceofficer@icicisecurities.com Name of CEO : Mr. Vijay Chandok, Tel : 022-40701000, Email id :

coo@icicidirect.com Website : www.icicisecurities.com, www.icicidirect.com SEBI Registration No. INZ000183631 Member of National Stock Exchange of India Ltd, BSE Ltd. and Metropolitan Stock Exchange of India Ltd. CIN : L67120MH1995PLC086241

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RIGHTS AND OBLIGATIONS OF STOCK BROKERS,SUB-BROKERS AND CLIENTS

as prescribed by SEBI and Stock Exchanges

1. The client shall invest/trade inthose securities/ contracts/other instruments admitted todealings on the exchanges asdefined in the Rules, Byelawsand Regulations of ExchangesSecurities and ExchangeBoard of India (SEBI) andcirculars/notices issued thereunder from time to time.

2. The stock broker, sub-brokerand the client shall be boundby all the Rules, Byelaws andRegulations of the Exchangeand circulars/notices issuedthere under and Rules andRegulations of SEBI andrelevant notifications ofGovernment authorities asmay be in force from time totime.

3. The client shall satisfy itself ofthe capacity of the stockbroker to deal in securitiesand/or deal in derivativescontracts and wishes toexecute its orders through thestock broker and the clientshall from time to timecontinue to satisfy itself ofsuch capability of the stockbroker before executingorders through the stockbroker.

4. The stock broker shallcontinuously satisfy itselfabout the genuineness andfinancial soundness of theclient and investment

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objectives relevant to theservices to be provided.

5. The stock broker shall takesteps to make the client awareof the precise nature of theStock broker’s liability forbusiness to be conducted,including any limitations, theliability and the capacity inwhich the stock broker acts.

6. The sub-broker shall providenecessary assistance and co-operate with the stock brokerin all its dealings with theclient(s).

CLIENT INFORMATION7. The client shall furnish all such

details in full as are requiredby the stock broker in“Account Opening Form” withsupporting details, mademandatory by stockexchanges/SEBI from time totime.

8. The client shall familiarizehimself with all themandatory provisions in theAccount Opening docu-ments. Any additional clausesor docu-ments specified bythe stock broker shall be non-mandatory, as per terms &conditions accepted by theclient.

9. The client shall immediatelynotify the stock broker in

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writing if there is any changein the information in the‘account opening form’ asprovided at the time ofaccount opening andthereafter; including theinformation on winding uppetition/insolvency petition orany litigation which may havematerial bearing on hiscapacity. The client shallprovide/update the financialinformation to the stockbroker on a periodic basis.

10. The stock broker and sub-broker shall maintain all thedetails of the client asmentioned in the accountopening form or any otherinformation pertaining to theclient, confidentially and thatthey shall not disclose thesame to any person/authorityexcept as required under anylaw/regulatory requirements.Provided however that thestock broker may so discloseinformation about his client toany person or authority withthe express permission of theclient.

MARGINS11. The client shall pay applicable

initial margins, withholdingmargins, special margins orsuch other margins as areconsidered necessary by thestock broker or the Exchangeor as may be directed by SEBIfrom time to time asapplicable to the segment(s)in which the client trades. Thestock broker is permitted in itssole and absolute discretion to

collect additional margins(even though not required bythe Exchange, ClearingHouse/Clearing Corporationor SEBI) and the client shall beobliged to pay such marginswithin the stipulated time.

12. The client understands thatpayment of margins by theclient does not necessarilyimply complete satisfaction ofall dues. In spite of consistentlyhaving paid margins, theclient may, on the settlementof its trade, be obliged to pay(or entitled to receive) suchfurther sums as the contractmay dictate/require.

TRANSACTIONS ANDSETTLEMENTS

13. The client shall give any orderfor buy or sell of a security/derivatives contract in writingor in such form or manner, asmay be mutually agreedbetween the client and thestock broker. The stock brokershall ensure to place ordersand execute the trades of theclient, only in the UniqueClient Code assigned to thatclient.

14. The stock broker shall informthe client and keep himapprised about trading/settlement cycles, delivery/payment schedules, anychanges therein from time totime, and it shall be theresponsibility in turn of theclient to comply with suchschedules/procedures of the

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relevant stock exchangewhere the trade is executed.

15. The stock broker shall ensurethat the money/securitiesdeposited by the client shallbe kept in a separate account,distinct from his/its any otherclient and shall not be used bythe stock broker for himself/itself or for any other client orfor any purpose other than thepurposes mentioned in Rules,Regulations, circulars,notices, guidelines of SEBIand/or Rules, Regulations,Bye-laws, circulars andnotices of Exchange.

16. Where the Exchange(s)cancels trade(s) suo moto allsuch trades including thetrade/s done on behalf of theclient shall ipso facto standcancelled, stock broker shallbe entitled to cancel therespective contract(s) withclient(s).

17. The transactions executed onthe Exchange are subject toRules, Byelaws and Regula-tions and circulars/noticesissued thereunder of theExchanges where the trade isexecuted and all parties tosuch trade shall havesubmitted to the jurisd-ictionof such court as may bespecified by the Byelaws andRegulations of the Exchangeswhere the trade is executedfor the purpose of givingeffect to the provisions of theRules, Byelaws andRegulations of the Exchanges

and the circulars/noticesissued thereunder.

BROKERAGE18. The Client shall pay to the stock

broker brokerage andstatutory levies as areprevailing from time to timeand as they apply to theClient’s account, transactionsand to the services that stockbroker renders to the Client.The stock broker shall notcharge brokerage more thanthe maximum brokeragepermissi-ble as per the rules,regulations and bye-laws ofthe relevant stock exchangesand/or rules and regulationsof SEBI.

LIQUIDATION AND CLOSEOUT OF POSITION

19. Without prejudice to the stockbroker’s other rights(including the right to refer amatter to arbitration), theclient understands that thestock broker shall be entitledto liquidate/close out all or anyof the client’s positions fornon-payment of margins orother amounts, outstandingdebts, etc. and adjust theproceeds of such liquidation/close out, if any, against theclient’s liabilities/obligations.Any and all losses andfinancial charges on accountof such liquidation /closing-out shall be charged to andborne by the client.

20. In the event of death orinsolvency of the client or his/its otherwise becoming

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incapable of receiving andpaying for or delivering ortransferring securities whichthe client has ordered to bebought or sold, stock brokermay close out the transactionof the client and claim losses,if any, against the estate of theclient. The client or hisnominees, successors, heirsand assignee shall be entitledto any surplus which mayresult there from. The clientshall note that transfer offunds/securities in favor of aNominee shall be validdischarge by the stock brokeragainst the legal heir.

21. The stock broker shall bring tothe notice of the relevantExchange the informationabout default in payment/delivery and related aspectsby a client. In case wheredefaulting client is acorporate entity partnership /proprietary firm or any otherartificial legal entity, then thename(s) of Director(s)/Promoter (s ) /Par tner (s ) /Proprietor as the case may be,shall also be communicatedby the stock broker to therelevant Exchange(s).

DISPUTE RESOLUTION22. The stock broker shall provide

the client with the relevantcontact details of theconcerned Exchanges andSEBI.

23. The stock broker shall co-operate in redressing griev-ances of the client in respect

of all transactions routedthrough it and in removingobjections for bad delivery ofshares, rectification of baddelivery, etc.

24. The client and the stock brokershall refer any claims and/ordisputes with respect todeposits, margin money, etc.,to arbitration as per theRules, Byelaws andRegulations of the Exchangeswhere the trade is executedand circulars/notices issuedthereunder as may be in forcefrom time to time.

25. The stock broker shall ensurefaster settlement of anyarbitration proceedingsarising out of the transactionsentered into between him vis-à-vis the client and he shall beliable to implement thearbitration awards made insuch procee-dings.

26. The client/stock-broker under-stands that the instructionsissued by an authorizedrepresentative for disputeresolution, if any, of the client/stock-broker shall be bindingon the client/stock-broker inaccordance with the letterauthorizing the saidrepresentative to deal onbehalf of the said client/stock-broker.

TERMINATION OF RELATI-ONSHIP

27. This relationship between thestock broker and the clientshall be terminated; if the

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stock broker for any reasonceases to be a member of thestock exchange includingcessation of membership byreason of the stock broker’sdefault, death, resignation orexpulsion or if the certificateis cancelled by the Board.

28. The stock broker, sub-brokerand the client shall be entitledto terminate the relationshipbetween them without givingany reasons to the other party,after giving notice in writingof not less than one month tothe other parties. Notwith-standing any such termina-tion, all rights, liabilities andobligations of the partiesarising out of or in respect oftransactions entered intoprior to the termination of thisrelation-ship shall continue tosubsist and vest in/be bindingon the respective parties orhis/its respective heirs,executors, administrators,legal represe-ntatives orsuccessors, as the case maybe.

29. In the event of demise/insolvency of the sub-brokeror the cancellation of his/itsregistration with the Boardor/withdrawal of recognitionof the sub-broker by the stockexchange and/or terminationof the agreement with the subbroker by the stock broker, forany reason whatsoever, theclient shall be informed ofsuch termination and theclient shall be deemed to bethe direct client of the stock

broker and all clauses in the‘Rights and Obligations’document(s) gover-ning thestock broker, sub-broker andclient shall continue to be inforce as it is, unless the clientintimates to the stock brokerhis/its intention to terminatetheir relationship by giving anotice in writing of not lessthan one month.

ADDITIONAL RIGHTS ANDOBLIGATIONS

30. The stock broker shall ensuredue protection to the clientregarding client’s rights todividends, rights or bonusshares, etc. in respect oftransactions routed through itand it shall not do anythingwhich is likely to harm theinterest of the client withwhom and for whom theymay have had transactions insecurities.

31. The stock broker and clientshall reconcile and settle theiraccounts from time to time asper the Rules, Regulations,Bye Laws, Circulars, Noticesand Guidelines issued by SEBIand the relevant Exchangeswhere the trade is executed.

32. The stock broker shall issue acontract note to hisconstituents for tradesexecuted in such format asmay be prescribed by theExchange from time to timecontaining records of alltransactions including detailsof order number, tradenumber, trade time, trade

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price, trade quantity, details ofthe derivatives contract, clientcode, brokerage, all chargeslevied etc. and with all otherrelevant details as requiredtherein to be filled in andissued in such manner andwithin such time as prescribedby the Exchange. The stockbroker shall send contractnotes to the investors withinone working day of theexecution of the trades in hardcopy and/or in electronic formusing digital signature.

33. The stock broker shall makepay out of funds or delivery ofsecurities, as the case may be,to the Client within oneworking day of receipt of thepayout from the relevantExchange where the trade isexecuted unless otherwisespecified by the client andsubject to such terms andconditions as may beprescribed by the relevantExchange from time to timewhere the trade is executed.

34. The stock broker shall send acomplete ‘Statement ofAccounts’ for both funds andsecurities in respect of each ofits clients in such periodicityand format within such time,as may be prescribed by therelevant Exchange, from timeto time, where the trade isexecuted. The Statement shallalso state that the client shallreport errors, if any, in theStatement within such time asmay be prescribed by the

relevant Exchange from timeto time where the trade wasexecuted, from the receiptthereof to the Stock broker.

35. The stock broker shall senddaily margin statements to theclients. Daily Marginstatement should include,inter-alia, details of collateraldeposited, collateral utilizedand collateral status (availablebalance/due from client) withbreak up in terms of cash,Fixed Deposit Receipts (FDRs),Bank Guarantee andsecurities.

36. The Client shall ensure that ithas the required legalcapacity to, and is authorizedto, enter into the relationshipwith stock broker and iscapable of performing hisobligations and undertakingshereunder. All actionsrequired to be taken to ensurecompliance of all thetransactions, which the Clientmay enter into shall becompleted by the Client priorto such transaction beingentered into.

ELECTRONIC CONTRACTNOTES (ECN)

37. In case, client opts to receivethe contract note in electronicform, he shall provide anappropriate e-mail id to thestock broker. The client shallcommunicate to the stockbroker any change in theemail-id through a physicalletter. If the client has opted forinternet trading, the requestfor change of email id may be

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made through the securedaccess by way of clientspecific user id and password.

38. The stock broker shall ensurethat all ECNs sent through thee-mail shall be digitally signed,encrypted, non-tamper ableand in compliance with theprovisions of the IT Act, 2000.In case, ECN is sent throughe-mail as an attachment, theattached file shall also besecured with the digitalsignature, encrypted and non-tamperable.

39. The client shall note that non-receipt of bounced mailnotification by the stockbroker shall amount todelivery of the contract noteat the e-mail ID of the client.

40. The stock broker shall retainECN and acknowledgement ofthe e-mail in a soft and non-tamperable form in themanner prescribed by theexchange in compliance withthe provisions of the IT Act,2000 and as per the extantrules/regulations/circulars/guidelines issued by SEBI/Stock Exchanges from time totime. The proof of delivery i.e.,log report generated by thesystem at the time of sendingthe contract notes shall bemaintained by the stockbroker for the specified periodunder the extant regulationsof SEBI/stock exch-anges. Thelog report shall provide thedetails of the contract notesthat are not delivered to the

client/e-mails rejected orbounced back. The stockbroker shall take all possiblesteps to ensure receipt ofnotification of bounced mailsby him at all times within thestipulated time period underthe extant regulations of SEBI/stock exchanges.

41. The stock broker shallcontinue to send contractnotes in the physical mode tosuch clients who do not optto receive the contract notesin the electronic form.Wherever the ECNs have notbeen delivered to the client orhas been rejected (bouncingof mails) by the e-mail ID ofthe client, the stock brokershall send a physical contractnote to the client within thestipulated time under theextant regulations of SEBI/stock exchanges and maintainthe proof of delivery of suchphysical contract notes.

42. In addition to the e-mail com-munication of the ECNs to theclient, the stock broker shallsimultaneously publish theECN on his designated web-site, if any, in a secured wayand enable relevant access tothe clients and for thispurpose, shall allot a uniqueuser name and password tothe client, with an option to theclient to save the contractnote electronically and/or takea print out of the same.

LAW AND JURISDICTION43. In addition to the specific

rights set out in this

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document, the stock broker,sub-broker and the client shallbe entitled to exercise anyother rights which the stockbroker or the client may haveunder the Rules, Bye-laws andRegulations of the Exchangesin which the client chooses totrade and circulars/noticesissued thereunder or Rulesand Regulations of SEBI.

44. The provisions of thisdocument shall always besubject to Governmentnotifications, any rules,regulations, guidelines andcirculars/notices issued bySEBI and Rules, Regulationsand Bye laws of the relevantstock exchanges, where thetrade is executed, that may bein force from time to time.

45. The stock broker and the clientshall abide by any awardpassed by the Arbitrator(s)under the Arbitration andConciliation Act, 1996.However, there is also aprovision of appeal within thestock exchanges, if eitherparty is not satisfied with thearbitration award.

46. Words and expressions whichare used in this document butwhich are not defined hereinshall, unless the contextotherwise requires, have thesame meaning as assignedthereto in the Rules, Byelawsand Regulations and circulars/notices issued thereunder ofthe Exchanges/SEBI.

47. All additional voluntaryclauses/document added bythe stock broker should not bein contravention with rules/regulations/notices/circularsof Exchanges/SEBI. Anychanges in such voluntaryclauses/document(s) need tobe preceded by a notice of 15days. Any changes in therights and obligations whichare specified by Exchanges/SEBI shall also be brought tothe notice of the clients.

48. If the rights and obligations ofthe parties hereto are alteredby virtue of change in Rulesand regulations of SEBI orBye-laws, Rules andRegulations of the relevantstock Exchanges where thetrade is executed, suchchanges shall be deemed tohave been incorporatedherein in modification of therights and obligations of theparties mentioned in thisdocument.

INTERNET & WIRELESSTECHNOLOGY BASEDTRADING FACILITYPROVIDED BY STOCKBROKERS TO CLIENT (Allthe clauses mentioned in the‘Rights and Obligations’document(s) shall beapplicable. Additionally, theclauses mentioned hereinshall also be applicable.)

1. Stock broker is eligible forproviding Internet basedtrading (IBT) and securitiestrading through the use ofwireless technology that shallinclude the use of devices

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such as mobile phone, laptopwith data card, etc. which useInternet Protocol (IP). Thestock broker shall comply withall requirements applicable tointernet based trading/securities trading usingwireless technology as may bespecified by SEBI & theExchanges from time to time.

2. The client is desirous ofinvesting/trading in securitiesand for this purpose, the clientis desirous of using either theinternet based trading facilityor the facility for securitiestrading through use ofwireless technology. TheStock broker shall provide theStock broker’s IBT Service tothe Client, and the Client shallavail of the Stock broker’s IBTService, on and subject toSEBI/Exchanges Provisionsand the terms and conditionsspecified on the Stockbroker’s IBT Web Siteprovided that they are in linewith the norms prescribed byExchan-ges/SEBI.

3. The stock broker shall bring tothe notice of client thefeatures, risks, responsibilities,oblig-ations and liabilitiesassociated with securitiestrading through wirelesstechnology/internet/smartorder routing or any othertechnology should bebrought to the notice of theclient by the stock broker.

4. The stock broker shall makethe client aware that the StockBroker’s IBT system itself

generates the initial passwordand its password policy asstipulated in line with normsprescribed by Exchanges/SEBI.

5. The Client shall be responsiblefor keeping the Username andPassword confidential andsecure and shall be solelyresponsible for all ordersentered and transactionsdone by any personwhosoever through the Stockbroker’s IBT System using theClient’s Username and/orPassword whether or not suchperson was authorized to doso. Also the client is aware thatauthentication technologiesand strict security measuresare required for the internettrading/securities tradingthrough wireless technologythrough order routed systemand undertakes to ensure thatthe password of the clientand/or his authorizedrepresentative are notrevealed to any third partyincluding employees anddealers of the stock broker

6. The Client shall immediatelynotify the Stock broker inwriting if he forgets hispassword, discovers securityflaw in Stock Broker’s IBTSystem, discovers/suspectsdiscrepancies/ unauth-orizedaccess through his username/password/account with fulldetails of such unauthorizeduse, the date, the manner andthe transactions effected

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pursuant to such unautho-rized use, etc.

7. The Client is fully aware of andunderstands the risks associ-ated with availing of a servicefor routing orders over theinternet/securities tradingthrough wireless technologyand Client shall be fully liableand responsible for any and allacts done in the Client’sUsername/password in anymanner whatsoever.

8. The stock broker shall sendthe order/trade confirmationthrough email to the client athis request. The client is awarethat the order/ trade confirm-ation is also provided on theweb portal. In case client istrading using wirelesstechnology, the stock brokershall send the order/tradeconfirmation on the device ofthe client.

9. The client is aware that tradingover the internet involves

many uncertain factors andcomplex hardware, software,systems, communicationlines, periph-erals, etc. aresusceptible to interruptionsand dislocations. The Stockbroker and the Exchange donot make any representationor warranty that the Stockbroker’s IBT Service will beavailable to the Client at alltimes without anyinterruption.

10. The Client shall not have anyclaim against the Exchange orthe Stock broker on accountof any suspension,interruption, non-availabilityor malfunctioning of theStock broker’s IBT System orService or the Exchange’sservice or systems or non-execution of his orders due toany link/system failure at theClient/Stock brokers/Exchange end for any reasonbeyond the control of thestock broker/Exchanges.

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RIGHTS & OBLIGATIONS OF STOCK BROKERS & CLIENTSFOR

MARGIN TRADING FACILITY (MTF)

Part A : Rights and Obligations – Mandatory Clauses of BSE1. Stock Broker/ Trading Member is eligible to provide

Margin Trading Facility (MTF) in accordance with SEBI &Exchange Guidelines as specified from time to time.

2. Stock Broker/ Trading Member desirous of extending MTFto their clients is required to obtain prior permission of BSE.Stock Broker/ Trading Member may note that BSE has theright to withdraw the permission at anytime.

3. Stock Broker/ Trading Member shall extend the MTF to theclient, on such terms and conditions as specified by the StockExchange / SEBI from time to time. Stock Broker/ TradingMember and the client shall abide by the requirements ofthe margin trading framework, including rights andobligations, as prescribed by Stock Exchange/ SEBI/ StockBroker/ Trading Member.

4. Stock Broker/ Trading Member shall intimate all the termsand conditions, including maximum allowable exposure,specific stock exposures etc., as well as the rights andobligations to the client desirous of availing MTF.

5. Stock Broker/ Trading Member may, at its sole and absolutediscretion, increase the limit of initial and/or maintenancemargin, from time to time. The Client shall abide by suchrevision, and where there is an upward revision of suchmargin amount, he agrees to make up the shortfall withinsuch time as the Stock Broker/ Trading Member may permit.It may however, be noted that the initial/ maintenancemargins shall never be lower than that prescribed by StockExchange/ SEBI.

6. Stock Broker/ Trading Member shall provide MTF only inrespect of such shares, as may be permitted by StockExchange/ SEBI.

7. Stock Broker/ Trading Member shall liquidate the securitiesand other collateral, if the client fails to meet the margin callto comply with the margin requirement as specified by StockExchange/ SEBI/ Stock Broker/ Trading Member. In thisregard, Stock Broker/ Trading Member shall also list downsituations/ conditions in the which the securities may beliquidated (Stock Broker/ Trading Member to list downsituations/ conditions which are included in the subsequentpart of the T&C below).

8. Stock Broker/ Trading Member shall not use the funds of oneclient to provide MTF to another client, even if the same isauthorized by the first client.

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9. The stocks deposited as collateral with the Stock Broker/Trading Member for availing margin trading facility(Collaterals) and the stocks purchased under the margintrading facility (Funded stocks) shall be identifiable separatelyand no comingling shall be permitted for the purpose ofcomputing funding amount

10. IPF shall not be available for transactions done on the StockExchange, through MTF, in case of any losses suffered inconnection with the MTF availed by the client.The rights and obligations prescribed hereinabove shallbe read in conjunction with the rights and obligations asprescribed under SEBI circular no. CIR/ MIRSD/ 16/ 2011dated August 22, 2011

Part B : Rights and Obligations – Mandatory Clauses of NSE

CLIENT RIGHTS

1. Client shall receive all communications in a mode mutually agreedbetween the broker and the client regarding confirmation of orders/trades, margin calls, decision to liquidate the position / security.2. Client shall be free to take the delivery of the securities at any timeby repaying the amounts that was paid by the Stock Broker to theExchange towards securities after paying all dues.3. Client has a right to change the securities collateral offered forMargin Trading Facility at any time so long as the securities so offeredare approved for margin trading facility.4. Client may close / terminate the Margin Trading Account at anytime after paying the dues.

CLIENT OBLIGATIONS1. Client shall, in writing in his own hand or in any irrefutableelectronic method, agree to avail of Margin Trading Facility inaccordance with the terms and conditions of Margin Trading Facilityoffered by the broker, method of communication for confirmationof orders/trades, margin calls and calls for liquidation of collateral/security/position.2. Client shall inform the broker of its intent to shift the identifiedtransaction under Margin Trading Facility within the time linesspecified by the broker failing which the transaction will be treatedunder the normal trading facility3. Client shall place the margin amounts as the Stock Broker mayspecify to the client from time to time.4. On receipt of ‘margin call’, the client shall make good suchdeficiency in the amount of margin placed with the Stock Brokerwithin such time as the Stock Broker may specify.5. By agreeing to avail Margin Trading Facility with the broker, clientis deemed to have authorized the broker to retain and/or pledge the

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securities provided as collateral or purchased under the MarginTrading Facility till the amount due in respect of the said transactionincluding the dues to the broker is paid in full by the client.6. Client shall lodge protest or disagreement with any transactiondone under the margin trading facility within the timelines as maybe agreed between the client and broker.

STOCK BROKER RIGHTS1. Stock Broker and client may agree between themselves the termsand condition including commercial terms if any beforecommencement of MTF.2. Stock broker may set up its own risk management policy that willbe applicable to the transactions done under the Margin TradingFacility. Stock broker may make amendments there to at any timebut give effect to such policy after the amendments are dulycommunicated to the clients registered under the Margin TradingFacility.3. The broker has a right to retain and/or pledge the securitiesprovided as collateral or the securities bought by the client underthe Margin Trading Facility.

4. The broker may liquidate the securities if the client fails to meetthe margin call made by the broker as mutually agreed of liquidationterms but not exceeding 5 working days from the day of margincall.

STOCK BROKER OBLIGATIONS1. Stock broker shall agree with the client the terms and conditionbefore extending Margin Trading Facility to such client. However,for clients who already have existing trading relationship and wantto avail of Margin Trading Facility, stock broker may take consent inwriting in his own hand or in any irrefutable electronic method afterstock broker has communicated the terms and conditions of MarginTrading Facility to such existing clients.2. The terms and conditions of Margin Trading Facility shall beidentified separately, in a distinct section if given as a part of accountopening agreement.3. The mode of communication of order confirmation, margin callsor liquidation of position/security shall be as agreed between thebroker and the client and shall be in writing in his own hand or inany irrefutable electronic method. Stock broker shall prescribe andcommunicate its margin policies on haircuts/ VAR margins subjectto minimum requirements specified by SEBI and exchanges fromtime to time.4. The Stock Broker shall monitor and review on a continuous basisthe client’s positions with regard to MTF. It is desirable thatappropriate alert mechanism is set up through which clients arealerted on possible breach of margin requirements.

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5. Any transaction to be considered for exposure to MTF shall bedetermined as per the policy of the broker provided that suchdetermination shall happen not later than T + 1 day.6. If the transaction is entered under margin trading account, therewill not be any further confirmation that it is margin tradingtransaction other than contract note.7. In case the determination happens after the issuance of contract,the broker shall issue appropriate records to communicate to Clientthe change in status of transaction from Normal to Margin tradingand should include information like the original contract numberand the margin statement and the changed data.8. The Stock Broker shall make a ‘margin call’ requiring the client toplace such margin; any such call shall clearly indicate the additional/deficient margin to be made good.9. Time period for liquidation of position/security shall be inaccordance declared policy of the broker as applicable to all MTFclients consistently. However, the same should not be later than 5working (trading) days from the day of ‘margin call’. If securities areliquidated, the contract note issued for such margin call relatedtransactions shall carry an asterisk or identifier that the transactionhas arisen out of margin call.10. The daily margin statements sent by broker to the client shallidentify the margin/collateral for Margin Trading separately.11. Margin Trading Accounts where there was no transactions for90 days shall be settled immediately.12. The stocks deposited as collateral with the stock broker for availingmargin trading facility (Collaterals) and the stocks purchased underthe margin trading facility (Funded stocks) shall be identifiableseparately and there shall not be any comingling for the purpose ofcomputing funding amount;13. Stock Broker shall close/terminate the account of the clientforthwith upon receipt of such request from the client subject to thecondition that the client has paid dues under Margin Trading Facility.

TERMINATION OF RELATIONSHIP1. The margin trading arrangement between the stock broker andthe client shall be terminated; if the Stock Exchange, for any reason,withdraws the margin trading facility provided to the Stock Brokeror the Stock Broker surrenders the facility or the Stock Broker ceasesto be a member of the stock exchange.2. The MTF facility may be withdrawn by the broker, in the event ofclient committing any breach of any terms or conditions therein orat anytime after due intimation to client allowing such time toliquidate the MTF position as per the agreed liquidation termswithout assigning any reason. Similarly, client may opt to terminatethe margin trading facility in the event of broker committing anybreach of any terms or conditions therein or for any other reason.

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3. In the event of termination of this arrangement, the client shallforthwith settle the dues of the Stock Broker. The Stock Broker shallbe entitled to immediately adjust the Margin Amount against thedues of the client, and the client hereby authorizes the Stock Brokerto make such adjustment.4. After such adjustment, if any further amount is due from the clientto the Stock Broker, the client shall settle the same forthwith. Uponfull settlement of all the dues of the client to the Stock Broker, theStock Broker shall release the balance amount to the client.5. If the client opts to terminate the margin trading facility, brokershall forthwith return to the client all the collaterals provided andfunded securities retained on payment of all the dues by clients.

PART C : Terms and Conditions of ICICI Securities Limited for Tradingin Margin Trading FacilityDEFINITIONS:In these terms and conditions, unless indicated otherwise, specificwords and phrases have the meaning as stated hereunder (arrangedalphabetically for ease of reading) and the client confirms havingread and understood these words and phrases. “Account” shall mean the brokerage account of the Client with ICICISecurities Limited which is integrated with his Bank accountmaintained with ICICI Bank and Demat account maintained with ICICIBank (as Depository Participant). “Available Margin”, shall mean, Positions marked in the MTF ,margin calculated by multiplying the Current Market Price (CMP) ofthe security with the position quantityIn the intraday MTM process, Available Margin is compared withthe Minimum Margin amount and additional Margin requirement isarrived at.“Add Margin” shall mean the option provided to the client to allocateadditional margin to his existing open positions under the Facility.“Additional Margin” shall mean the incremental margin required tosafeguard Margin Trading positions from being squared off in theIntraday MTM process. “Auto Square Off” shall mean, the act by which I-Sec shall, afterthe stipulated time and at its discretion square off all suchPendingForDelivery positions for which the client has failed to, withinthe stipulated time, meet his contractual obligation and the incidentalcharges thereof or for which the Convert to Delivery option has notbeen exercised.“Broker Square off” is a separate product provided by I-Sec whichmarks (either at the time of order placement or during such time aspermitted by I-Sec after the trade execution) a transaction on T Day.Under this product, with respect to the specified positions that areopen after the time specified on the T day, the client authorizes I-Sec to square off or to do a CTD (depending on the availability ofthe requisite funds) of such positions, at its discretion, at any timethereafter.

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“Client” shall mean any person who has accepted the Rights andObligations for Margin Trading Facility and executed Power ofAttorney in favour of I-Sec and has an existing and valid Accountwith I –Sec,“Convert to Delivery Function (CTD)” shall mean an option providedunder the facility, on availability of necessary funds, to convert anoutstanding MTF Position with I-Sec into a delivery transaction,resulting into the Client taking delivery of securities.“Fresh Margin Trading Position” shall mean the position created onexecution of a Fresh Order under the Facility.“Fresh order” shall mean an order placed by the client by which aFresh MTF Position is taken under the Facility.“Initial margin” shall mean the amount of margin (either in the formof cash or eligible securities) required by I-Sec to be deposited withit by the Client before undertaking Transactions in MTF.“Intraday Mark to Market (MTM) process” (also referred to as Markto Market Loop) shall mean, the act by which, at any time prior tothe stipulated time for Auto Square off, I-Sec shall identify all suchMTF positions (positions taken in the current settlement as well asPendingForDelivery positions) for which the Available margin is belowthe Minimum Margin and take steps as mentioned in these Termsand conditions, for collecting the required additional margin orsquaring off such positions.“Limit” shall mean the unutilized amount, primarily arising from thefunds / securities allocated or furnished, available with the Client tosubmit as Margin for future positions that the Client proposes totake or for allocating it towards additional margin requirements onexisting positions .“Margin” shall mean the security offered/provided by the Client,whether in form of cash, securities or Fixed Deposit Receipt (FDR)as may be acceptable to ICICI Securities for due settlement of allthe obligations of the Client arising out of or in connection with theTransactions.“Margin Trading Facility (MTF)” (also referred as Client Mode) shallmean the option under the facility to mark a buy transaction (eitherat the time of order placement or after such time as permitted by I-Sec after the trade execution) as a transaction which the client intendsto maintain beyond the current settlement by providing thenecessary margins as prescribed by I-Sec from time to time andsettle later by either squaring off the positions or taking delivery ofsecurities by making the outstanding payment within the prescribedtime, if any.“Margin Trading positions” shall mean positions taken under thisfacility.“Minimum Margin” shall mean the margin amount, as may beprescribed by I-Sec from time to time, that the Client is required tonecessarily maintain with ICICI Securities to safeguard his positionunder the facility from being squared off, by I-Sec in the Intra dayMark to Market process.

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“PendingForDelivery Positions”, shall mean, such MTF position takenin earlier settlements by Client for which Client is required to eitherbring in money to take delivery or square off such positions withinthe stipulated time, if any.“Securities” shall mean the equity shares/stocks of the companiesin respect of which I-Sec is offering the Facility.“Transactions” is conduct of trading in the MTF product by the clientthrough I-Sec.“Website” shall mean the website at the URL www.icicidirect.com,Mobile App, Low Bandwidth Site and other trading front endsmaintained by I-Sec from time to time to offer on-line investmentand trading in various financial products to the Clients, throughdifferent media including but not limited to the Internet, IVR, VSATs,CallNTrade, Mobile, WAP, physical outlets, kiosks.PRODUCT FEATURES Margin Trading Facility hereinafter referred to as “MARGINTRADING or “MTF”, is a facility offered by I-Sec which allows theClient to take positions by providing prescribed margin and thebalance amount is funded by I-Sec to meet the pay-in obligation ofthe Client , Client can later take delivery either by making thenecessary funds settlement or square up such positions. The clientagrees that any fresh position under MTF shall be allowed to becreated only when client has provided Initial Margin required forsuch position in such form as specified by I-Sec. The balanceobligation would be funded by I-Sec and will be paid to the stockexchange for meeting the client’s pay-in obligation. Client then needsto ensure that the available margin is always above the MinimumMargin specified by I-Sec to avoid squaring off the positions.Margin Trading orders will be allowed only if the order prices arewithin the daily price range decided by the Exchange and within thedaily price range as decided by I-Sec, if any, from time to time. If theorder price is not within the above price range, such Fresh order(s)would be rejected.The client understands that the positions will be permitted to becontinued upon fulfillment of the necessary Margin requirementsas specified by I-Sec for the particular scrip from time to time. TheClient agrees that though presently there is no maximum time limitprescribed by I-Sec for keeping the positions open, I-Sec reservesthe right at its discretion to stipulate a maximum time within whichClient will have to take the delivery thereof.The client understands that securities purchased by the Client whichare pending to be settled can be viewed by the Client on the ‘Pendingfor delivery” page of his www.icicidirect.com account.The client understands that if he has already placed a MTF order orhas an MTF position in a security on a day, the client will not bepermitted to place subsequent orders in the “Broker square off’ modein the same security and vice versa. However, the client will beprovided the option of changing the square off mode of all the open

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positions to “Broker Square off” after which fresh orders in thatsecurity can be placed under the “Broker Square off” mode andvice versa.

With respect to every PendingForDelivery position, the Client willhave the following options under the facility:i. Switch the position to “Broker square off” on the day of takingposition . The option can be exercised only prior to the trigger ofthe AUTO SQUARE OFF process on a given day.ii Make additions to the margin amount on a position anytime priorto the trigger of the AUTO SQUARE OFF process till the position(s)is/are permitted to be kept open by I-Sec.iii. Exercise the option of Convert to Delivery (subject to availabilityof funds to meet the contractual obligations for the position) anytimetill the position(s) is/are permitted to be kept open by I-Sec.The client understands that the Convert to Delivery option forPendingForDelivery positions can be exercised in the chronologicalorder in which they were created; ie open positions of an earliersettlement have to be closed first; only after which open positionsin the later settlements will be permitted to be closed.The client agrees that, securities purchased by the client shall beretained by I-Sec in its demat account until the client fulfills thecontractual obligation for the respective BUY transaction in whichthe securities are bought. On settlement of the contractualobligations, the securities will be delivered to the linked Demataccount of the client.If the client fails to make the necessary Funds PAYin by the stipulatedtime (if any), the securities will be sold by I-Sec, at its discretion, inthe subsequent settlement(s) for the purpose of settling theoutstanding amount.The client agrees that there can be a short delivery of securities fromthe Exchange for the PendingForDelivery transaction. For suchtransactions, the Exchange would either give delivery of sharesthrough market auction or shall closeout the buy transactions asper the Exchange Regulations. All costs and consequences, if any,arising out of such auction or close out shall be fully borne by theclient and I-Sec would not be held responsible for any such shortdelivery received by the client and the consequential impact thereof.The client agrees that I-Sec may at its discretion, in accordance withits risk management policy, disable certain securities and square offall open positions in such scrip which are not converted to deliveryirrespective of margin availability on account of corporate actionsuch as stock split, issue of bonus shares, merger and the like. Clientagrees that I-Sec cannot be held liable for any losses arising out ofsuch disablement or squaring off of security.The Client confirms that he is aware of the charges and otherstatutory levies as are prevailing and as they apply to the facility.The schedule of charges would be provided to the Client, by

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displaying such schedule on the Website. The schedule of chargeswould be subject to change by I-Sec and statutory levies may changefrom time to time and client agrees and accepts to comply by thesecharges.The client agrees that he/she shall be liable to pay Interest rate @0.065% per day or such rate as may be decided from time to timeby ICICI Securities Ltd. on all outstanding payment beyond the duedate (i.e. pay-in-date) by the client to ICICI Securities Ltd.The Client understands that under MTF, Client would not be able totake further positions and/or existing positions may be squared offby I-Sec at its discretion on occurrence of any of the following events:1) If at any point of time total exposure across all stocks of all theClients of I-Sec taken together under this facility exceeds the SEBI /Stock Exchange prescribed maximum allowable exposure limitspecified for a stock broker. Client agrees that I-Sec may set thislimit at its discretion which can be lower than the limits prescribedby SEBI as part of its risk management process.2) If the Client exceeds or is about to exceed the maximum allowableexposure for a single Client. Client understands that SEBI hasprescribed a maximum limit for allowing exposure to a single Client.Client agrees that I-Sec may set this single Client exposure limit atits discretion which can be lower than the limits prescribed by SEBIas part of its risk management process.3) If the total exposure in a particular stock of all the Clients of I-Sectaken together under this facility reaches the maximum allowablelimit for that stock as defined by I-Sec.4) If the exposure in a particular stock by a single Client under thisfacility reaches the maximum allowable limit for that stock for asingle Client as defined by I-Sec.5) If the stock moves out from the list of eligible stocks under MTFand becomes ineligible for offering under MTF.6) Any other circumstances due to change in regulatoryrequirements from time to time or risk management process due tochanging market conditions.The client understands that presently the Margin Trading Facility isoffered by I-sec only in BSE. This Facility may be offered subsequentlyin NSE for which the same terms shall apply unless otherwisecommunicated. The Client understands that the existing EquityTerms and Conditions displayed on the website shall continue toapply to Margin Broker Square Off Mode product and NSE MarginClient Square Off Mode product (T+5) offered by I-Sec. The termsmentioned herein are applicable only for Margin Trading (Funding)product offered by I-Sec under SEBI circular no. CIR/MRD/DP/54/2017 dated June 13, 2017.The client understands that I-Sec shall be reporting to stockexchanges on a daily basis the details of client’s funded positions/collateral stocks and such other details as may be required by stockexchanges from time to time.

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The client understands that client is required to disclose whether heis a promoter or forming of the promoter group of the stock in whichhe has taken an MTF position or given as collateral which is requiredfor daily reporting to stock exchanges. I-Sec shall provide client atool on website to disclose his promoter status and client agrees todisclose his/her status for all such stocks. In absence of any suchdisclosure, I-Sec shall consider the client as a non promoter andwill report to stock exchanges accordingly.RISK MANAGMENTThe Client understands that regulators have prescribed stocks whichare eligible to be offered in MTF. Hence, MTF shall not be offered inall the stocks traded on Stock Exchanges. The client agrees that I-Sec shall have the discretion to select securities that will be enabledfor trading under the Facility as per its internal risk managementpolicy and the number of stocks enabled for trading under MTF byI-Sec can be smaller than the number of stocks allowed by regulators.The client agrees that I-Sec may require the client to provide suchmargin (in such form and manner as acceptable to I-Sec) dependingon the security and market volatility as it deems fit in its solediscretion as necessary for risk mitigation. This margin requirementmay be more than the margin prescribed by SEBI/ stock exchanges.Margin may be taken in cash, Cash equivalent or eligible shares asmay be acceptable to I-Sec. In the event the client offers securitiesas margin to I-Sec, then the Terms and conditions as mentionedunder “MARGIN SECURITIES” elsewhere in this Terms and conditionsshall apply.The Client agrees that I-Sec may at its sole discretion, change themargin requirement on the Transactions, in which the Client hastaken or proposes to take positions depending on its own riskmitigation measures and without intimating or consulting the client.Due to increased volatility in the prices, the margin requirementmay be increased and in such event the Client undertakes to allocateadditional funds/securities to continue with the open position. Ifsuch Margin requirement is not met, the position may come in MTMloop and may be squared off by I-Sec due to insufficient Margin.The Client undertakes to maintain sufficient Limit in the Equitysegment to safeguard the open position from being squared off orpending orders being cancelled.The Client agrees that under the Facility, Margin shall be blocked atthe time of order placement after taking into account the currentmarket price / weighted average price. For market orders, marginshall be blocked considering the order price as the last traded priceof the security. In the event the actual trade execution takes place ata price different from the price at which the Margin was blocked,the required Margin would then be re-calculated and the limits wouldbe blocked at the actual Traded Price. In case of order modificationalso, the required Margin shall be re-calculated and excess margin,if any, shall be released or additional margin needed, if any, will be

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blocked. In case the available Margin with I-Sec is insufficient, thenthe order modification request would get rejected.The Client understands that the Client’s positions are continuouslymonitored and the Client agrees to provide Margin (includingadditional Margin) as may be determined by I-Sec from time to time.The Client understands that securities enabled under the facility arecontinuously tracked and if, during the day, the last traded price forany security moves above or below its previous trading day closingprice at such percentage as may be prescribed by I-Sec from timeto time, the security will be disabled from further trading in MTF forthat day.If, during the day, a security is in negative compared with the previoustrading day closing price then, for that security, all pending MTForders will be cancelled and all MTF open positions will be squaredoff at market price.The Client understands that the Intraday MTM process will be runon a daily basis at discretion of I-Sec, prior to the stipulated time (ifany) for the AUTO SQUARE off process. The Client understands thatthe Intraday MTM process is run separately for the positions markedunder the Broker Square Off Mode and MTF (positions taken in thecurrent settlement) and the PendingForDelivery positions. I-Secreserves the right to decide the timing and frequency for runningthe Intraday MTM process.The client confirms that he has read and understood the modalitiesof the Intraday MTM Process and risk management processes asmentioned herein below and as posted on the website in the formof Frequently Asked Questions (FAQs). The client understands andagrees that I-Sec shall be entitled to modify/alter/update the saidFAQs and such a change shall be displayed on the website. Thecontinued use of the Facility by the Client shall be deemed to be anacceptance by the Client that he has read and understood themodified/altered FAQs.In the Intra-day MTM process, if it is observed that the AvailableMargin on the position has fallen below the Minimum Marginrequired, I-Sec would block additional Margin required from theLimits available. In case Limits are not sufficient to meet theadditional Margin requirements then I-Sec may place a square offorder at market rate to close the position. However, before placingthe square off order all pending orders in MTF in that security maybe cancelled by I-Sec.If the available Limit is not sufficient to meet the demand foradditional Margin, I-Sec may close out the open position taken bythe Client and the Client shall be solely responsible for any lossesarising on account of the same. It shall be the responsibility of theClient to regularly monitor and review the Margin availability andfurnish the additional Margin to I-Sec.The Client agrees that the Mark to Market (MTM) process run byICICI Securities to call for additional margin on Client positions shall

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be considered as online margin call given to the client. Further, theclient has been provided with tools on the website itself where hecan ascertain details of his existing margin blocked, margins required,MTM loss adjustment, margin shortfall, margin percentage etc. Themargin requirement derived by use of these tools and the MTMprocess run by ICICI Securities to call for additional margin on openpositions will be construed as margin call/ demand for the additionalmargin required by I-Sec. Clients are bound to monitor and reviewtheir open positions and margin requirements all the times andfurnish the additional margin to the Company. I-Sec reserves theright to close out the open position at any time in case the Clientdoes not satisfy the additional Margin requirements. The Client shallmaintain sufficient Limit to provide Margin as and when requiredby I-Sec. Client agrees that the client’s position shall be liquidated ifthere is margin shortfall while running the daily Intraday MTMprocess and I-Sec shall not wait further for liquidation of positions.Client agrees that the mode of communication to clients pertainingto order/trade confirmation, margin requirements/shortfall andliquidation of stocks will be electronic through customer’s onlineaccount.Client understands that I-Sec has developed an alert mechanism

through which clients are alerted on possible breach of marginrequirements. Client understands that if available margin on anymargin position is highlighted in red colour (or such colour as maybe modified by I-Sec from time to time which shall be intimatedthough website) in the customer’s account, it indicates that theavailable margin on that position has fallen and is very close tobreaching the minimum margin requirement but still above requiredminimum margin. If available margin falls below the minimummargin required on that position, then such position may be squaredoff in the intraday MTM process if additional margin is not allocated.This too shall be considered as a margin call on that position. Clientagrees to allocate additional margin immediately to meet the marginshortfall else such position may be squared off by I-Sec, on besteffort basis.Due to MTM and blocking of Additional Margin, Limits may becomelesser over a period of time and because of the same, positions mayfall in the MTM loop and may get squared off unless the Clientprovides fresh Limits.The Client hereby undertakes to allocate additional Marginvoluntarily, on any open position and make available sufficientMargin against the position to avoid square off of the position by I-Sec.The client understands that Stocks bought under the MTF shall bemarked to market on daily basis and collateral stocks shall berevalued frequently. Further, client agrees that no exposure shall begiven on increased value of stock funded by I-Sec.

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The client understands that additional Margin can be added to anopen position by using the “Add Margin” option under the facility.

The Client understands that margin amount on thePendingForDelivery positions, whether allocated by the client himselfor by the system in the MTM processes, will be debited/blocked byI-Sec from/in the Client’s linked Bank account on a daily basis.The client understands that if he fails to provide the necessaryamount for meeting the Additional Margin requirement forPendingForDelivery positions during the period it is being carriedforward or the Payin amount needed to enable delivery of securitieswithin the stipulated time, I-Sec would have the discretion to squareoff the open position in the AUTO SQUARE OFF process, after thestipulated time ( if any).Presently, I-Sec has not stipulated any time for running AUTOSQUARE OFF process i.e. no maximum time limit for compulsorilytaking delivery of positions or for squaring off positions before aspecified period. However, I-Sec may later specify a time period forthe same at its discretion which shall be communicated to Clientsaccordingly. I-Sec shall have the sole discretion to decide upon thefrequency and timing of the AUTO SQUARE OFF process if the sameis introduced by I-Sec.In the AUTO SQUARE OFF process, I-Sec shall, at its discretion,In case of PendingForDelivery positions, square off all such positionsfor which the permitted period(if specified by I-Sec) for keeping theposition open has expired and which have neither been squared offnor Converted to Delivery by Client within the stipulated time.The Client agrees that I-Sec would not be liable in the event forreasons including but not limited to lack of adequate offered quantity,the entire quantity of the square off order placed by the client is notfully executed upto the Limit Price. In such a scenario, I-Sec would,at the time of the AUTO SQUARE OFF process, cancel theseunexecuted square off orders and place square off orders at Marketprices so that such orders can be squared off immediately at marketprices. Any loss arising out of such square off would be fully borneby the Client.The client confirms that he has read and understood the modalitiesof the AUTO SQUARE OFF and EOD MTM process as mentionedherein and as posted on the website in the form of FAQs . The clientagrees that I-Sec shall be entitled to modify/alter/update the saidFAQs and such a change shall be displayed on the website. Thecontinued use of the Facility by the Client shall be deemed to be anacceptance by the Client that he has read and understood themodified/altered FAQs.The Client agrees that I-Sec would have the discretion to square off,without giving any notice, the client’s position and cancellingpending orders under the facility in following circumstances:

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i. If the Available Margin in any security has fallen below theMinimum Margin and the Client has not taken any steps either toreplenish the margin or square up the open position. The MTMprocess run by ICICI Securities to call for additional margin shall beconsidered as online margin call given to the client.ii. All positions under the MTF in a particular security, if the lasttraded price for that security moves by a particular percentage asmaybe specified by I-Sec from time to time, below its previoustrading day closing price.iii. All positions under the MTF in a particular security, if suchsecurity is shifted from a higher price band/ no price band categoryto a lower price band category or is shifted from Normal to Trade toTrade (i.e under compulsory delivery ) category as maybe specifiedby I-Sec from time to time.iv. All other cases where the margin or security placed by theClient falls short of the requirement or where the limits given to theClient has been breached or where the Client has defaulted on hisexisting obligation.v SEBI/ Stock Exchanges have specified category of securities whichare eligible to be accepted as collateral towards MTF by the stockbroker. The client agrees that if specific stock given by the clienttowards collateral moves out of the eligible list of securities, thenopen positions of the client may fall under MTM loop due to shortageof margin and positions may get squared off if sufficient additionalmargin is not replenished by the client. Client agrees that I-Secreserves the right to decide the securities which it may accept asmargin from clients.vi. If the stock moves out from the list of eligible stocks under MTFand becomes ineligible for offering under MTF as per SEBI definednorms.Client agrees that although the auto square off trigger point is pre-defined, subsequent to which I-Sec could exercise its discretion tocarry out the square off within a reasonable period of time, the actualexecution could happen at a price different from the trigger pointand the Client agree to bear the loss based on actual executed price.I-Sec shall also have the right to cancel any or all open orders and/or close any or all outstanding positions. Client understands that incase the AUTO SQUARE OFF does not take place due to any reasonwhatsoever, I-Sec shall, at its discretion, exercise the option of CTD(Convert to Delivery).If CTD also fails due to non-availability/shortage of funds in the linkedbank account, then for the open MTF position, the shares will not bedelivered to the Client and I-Sec will liquidate the shares anytime.Consequently, the Client will be responsible for any resulting losses,brokerage and all associated costs including penalty levied by theExchange.

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a) EOD MTM PROCESSThe Client understands that the End of Day Mark to Market (EODMTM) Process will be run on a daily basis for all PendingForDeliverypositions. The process will be run security-wise for each client, inwhich all PendingForDelivery positions of the client in varioussettlements will be cumulated and considered as a single unit forfurther processing in the EOD MTM activity. Under the process, thesystem will compare the security-wise cumulative Available Marginagainst the cumulative Minimum Margin requirement for thePendingForDelivery positions in that security. If the security-wiseCumulative Available Margin is less than the security-wiseCumulative Minimum Margin required across all the positions inthat security, Additional margin requirement will be calculated forsuch security. The Additional Margin will be blocked from theallocated amount and Limits shall be reduced by the amount soblocked.b) CALLS FOR ADDITIONAL COLLATERAL AND LIQUIDATIONIf it is considered necessary for its own protection, I-Sec may requirethe Client/s to immediately deposit cash or collateral into theiraccount prior to any applicable settlement date in order to assuredue performance of their open contractual commitments. If Client/s do not provide the additional cash or collateral, Client/s herebyunderstand and acknowledge that I-Sec has the right to sell any orall securities and other property in their account, buy any or allsecurities and other property which may be short in their account,cancel any or all open orders and/or close any or all outstandingcontracts. In addition, Client/s understand and agree that I-Sec mayexercise any or all of the above rights without demand for additionalcash or collateral, or notice of sale or purchase, or other notice oradvertisement. Any such sales or purchases may be made at anytime at I-Sec’s discretion on any exchange or other market wheresuch business is usually transacted, or at public auction or privatesale, or I-Sec may be the purchaser/seller for its own account.OTHER RIGHTS OF ISEC UNDER THE FACILITYI-Sec, at its sole discretion, reserves the right to either temporarilyor permanently, withdraw or suspend the Facility at any time withoutgiving any notice or assigning any reason for the same, whether inrespect of one or more Clients. In case of a temporary withdrawal,the privileges may be reinstated by I-Sec at its sole discretion.I-Sec shall decide upon the list of Securities in which the Clientswould be permitted to take Fresh Margin Trading Positions underthe Facility. This list of Securities would be provided to the Client, bydisplaying such list on the Website. Such list of Securities would besubject to change by I-Sec from time to time. I-Sec may also at itssole discretion decide to withdraw a particular security from the listwithout notice to the clients and without assigning any reasonswhatsoever.

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I-Sec shall decide upon the Security specific Margin applicable fortaking Fresh Margin Trading Positions in various Securities underthe Facility. I-Sec reserves the right to alter the Security specificMargin applicable for a Security without notice to the Client andwithout assigning any reasons whatsoever. The Security-specificMargin rates, would be provided to the Client, by displaying suchlist on the Website. Client understands that I-Sec may imposemargins higher than the margin requirements prescribed by SEBI/Stock Exchanges.The Client agrees that in case of insufficient Limits, to safeguard itsinterest I-Sec may, at its discretion, block and debit any unallocatedfunds lying in Client’s Bank Account integrated with the Accountand /or debit securities lying in Client’s demat account integratedwith the Account towards dues recoverable from the client.No delay in exercising or omission to exercise any right, power orremedy accruing to I-Sec upon any default by the Client or otherwiseunder these Right and Obligations document or the ClientAgreement shall impair any such right, power or remedy or shall beconstrued to be a waiver thereof or any acquiescence in such default,nor shall the action or inaction of I-Sec in respect of any default orany acquiescence by it in any default, affect or impair any right,power or remedy of I-Sec in respect of any other default. The rightsof I-Sec under these Terms and Conditions and the Client Agreementare cumulative and not exclusive of their rights under the generallaw and may be waived only in writing and specifically and at thesole discretion of I-Sec.Client agrees that in case of any disagreement or dispute pertainingto transactions done under MTF, client shall lodge the complaintwith I-Se within 30 days of execution of the disputed transaction orsuch other time as maybe specified by I-Sec from time to time.CLIENT AUTHORISATIONS AND INDEMINITIESThe Client agrees and undertakes to provide I-Sec with all thedocuments and particulars, which may be required by I-Sec, pursuantto the Client availing of this Facility.The use of this facility is entirely voluntary and the facility has to beused in accordance with the applicable rules/ regulations/ guidelinesspecified by the Securities and Exchange Board of India and othercompetent authorities from time to time. I-Sec disclaims all liabilityfor any loss caused to the Client out of the purchase or sale ofsecurities through use of this facility.The Client agrees that the Frequently Asked Questions (FAQs) forthe MTF , as posted on the website, are an integral part of this Termsand Conditions. The client acknowledges as having read and theunderstood these FAQs. The client understands and agrees that I-Sec shall be entitled to modify/alter/update the said FAQs and sucha change shall be displayed on the website. The continued use of

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the Facility by the Client shall be deemed to be an acceptance by theClient that he has read and understood the modified/altered FAQs.

The Client hereby directs and authorises ICICI Bank Limited as theDepository Participant to act on the directions given by I-Secpursuant to the terms and conditions mentioned herein, power ofattorney and Client Agreement executed by the Client in favour of/with I-Sec.The Client hereby agrees and undertakes not to hold ICICI BankLimited (Depository Participant), I-Sec and ICICI Bank Limited (thebank) liable for any claim, action, grievance or dispute that the Clientmay suffer and shall indemnify and save harmless ICICI Bank Limited(Depository Participant), I-Sec and ICICI Bank Limited (the bank) fromany claim, action, dispute or grievance that any third party may have,on account of ICICI Bank Limited (Depository Participant), I-Sec and/or ICICI Bank Limited (the bank) having acted in pursuance of thedirections and/or authorisations of the Client and/or I-Sec.Under no circumstances shall I-Sec be liable to the Client for indirect,incidental, consequential, special or exemplary damages arisingfrom or in connection with the Facility provided to the Client, even ifI-Sec have been advised of the possibility of such damages, such as,but not limited to, loss of revenue or anticipated profits or lostbusiness.The Client agrees and understands that the client shall, at all times,be responsible for the client’s investment decisions and/or ordersplaced, or applications preferred by the Client, either electronicallyor otherwise. ICICI Securities shall not be deemed to have receivedany electronically transmitted order or application until ICICISecurities has confirmed the receipt of such an order or application.The client further understands that trading throughwww.icicidirect.com or other trading platforms provided by I-Sec isin electronic mode, based on satellite/leased line basedcommunications, combination of technologies and computersystems to place and route orders. Thus, there exists a possibility ofcommunication failure or system problems or slow or delayedresponse from system or trading halt, or any such other problem/glitch whereby not being able to establish access to the tradingsystem/network, which may be beyond control and may result indelay in processing or not processing buy or sell orders either inpart or in full. The client understands and agrees that although theseproblems may be temporary in nature, in case when the client hasoutstanding open positions or unexecuted orders, these representa risk because of the client’s obligations to settle all executedtransactions. The Client understands that placing an order with ICICISecurities, either electronically or otherwise, does not guaranteeexecution of the said order or acceptance of an application. TheClient shall not hold, nor seek to hold, ICICI Securities and/or any of

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its officers, directors, employees, agents, subsidiaries or affiliates,liable for any loss including but not limited to trading losses incurredby the Client due to exchange or market regulation, suspension oftrading, war, strike, equipment failure, communication line failure,system failure, security failure on the Internet, unauthorised access,theft, or any problem, technological or otherwise, or other conditionbeyond the control of ICICI Securities that might prevent the Clientfrom entering an order or ICICI Securities, from executing an order.C. MARGIN SECURITIES

The Margin Securities would constitute the security towards dueperformance of the Client’s obligations, commitments, operations,obligations and liabilities arising out of or incidental to anyTransactions made, executed, undertaken, carried out or enteredinto by the Client.The Client undertakes that the Margin Securities shall be owned bythe Client and shall be free of any charge, lien or other encumbrancesat the time of offering the same towards margin to ICICI Securities.The client understands that I-Sec shall apply applicable haircut onthe value of margin securities for giving exposure limits.The client understands that securities provided as margin can bewithdrawn by the client only to the extent of free limits available intrading account.The client agrees that ICICI Securities shall have right to accept FDRsonly from banks specified by ICICI Securities from time to time. Theclient understands that FDRs provided as margin can be withdrawnby the client only as per the terms specified by I-Sec from time totime.SEBI/ Stock Exchanges have specified category of securities whichare eligible to be accepted as collateral towards MTF by the stockbroker. The client agrees that if specific stock given by the clienttowards collateral moves out of the eligible list of securities, thenthe limit given against such stock shall be withdrawn by I-Secimmediately. In view of the same, MTF open positions of the clientmay fall under MTM loop due to shortage of margin and positionsmay get squared off if sufficient additional margin is not replenishedby the client. Client agrees that I-Sec reserves the right to decide thesecurities which it may accept as margin from clients.The Client agrees that the Client shall furnish additional MarginSecurities as may be required by ICICI Securities from time to time.Collateral stocks shall be either blocked/pledged by I-Sec in client’sdemat a/c or will be debited from client’s demat a/c to be held by I-Sec as per its discretion. Stocks bought under MTF and not paid forby the client too shall be held by I-Sec as a security towardsoutstanding payment. The collateral stocks and funded stocks shallbe released by I-Sec only when the client has cleared all theoutstanding dues payable to I-Sec.

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The Client agrees that the Client shall not, without ICICI Securities’prior written permission, create any charge, lien or encumbranceof any kind over the Margin Securities offered to ICICI Securitiesand further that, the Client shall not do or allow anything to be donethat may prejudice the interest of ICICI Securities in respect of theMargin Securities while the Client remains liable to ICICI Securities,in any manner whatsoever, without the prior written permission ofICICI Securities.1. POWER OF ATTORNEY:The Client agrees and acknowledges that pursuant to the Power ofAttorney executed by the Client in favour of ICICI Securities, ICICISecurities shall be entitled to submit necessary documents on behalfof the Client to ICICI Bank Limited, acting as the DepositoryParticipant, for enabling the Depository to block the securities ormark a pledge in favour of ICICI Securities in respect of the MarginSecurities and also submit further documents on behalf of the Clientto request the Depository to remove the pledge/block created withrespect of the Margin Securities.ICICI Securities shall also be entitled to give such instructions toICICI Bank Limited acting as the Depository Participant to block/marka lien on the Margin Securities offered by the Client and upon suchinstructions, the Client shall not be able to deal or trade in suchMargin Securities without consent of ICICI Securities.2. ENFORCEMENT OF SECURITY:If in the opinion of ICICI Securities, the Client has failed to performand/or failed to fulfill any of its engagements, commitments,operations, obligations or liabilities as a Client of ICICI Securitiesincluding for any sums being due by him to ICICI Securities or toany other party arising out of or incidental to any Transactions made,executed, undertaken, carried out or entered into by it or in terms ofregulations, laws, rules governing ICICI Securities or the Client inthis behalf, then the Client agrees that ICICI Securities without givingany notice to the Client except through the margin call process asmentioned in these terms in relevant sections, shall be empowered/entitled to invoke pledge, sell, dispose of or otherwise effect anytransfer of any or all of the Margin Securities in such manner andsubject to such terms and conditions as it may deem fit and that themoney realized, if any, from such sale/disposal/transfer subject todues payable to ICICI Securities for such sale/ disposal/or othertransfer shall be utilized/disbursed by ICICI Securities in such mannerand subject to terms and conditions as it may deem fit. Further, theClient shall do all such things, deeds, acts and execute all suchdocuments as are necessary to enable ICICI Securities to effect suchsale/disposal/ transfer. All decisions by ICICI Securities in respect ofthe obligations or liabilities or commitments of the Client and theamount claimed in respect thereof shall be binding on the Client.The Client agrees that ICICI Securities shall not be under any liability

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whatsoever to the Client or any other person for any loss, damage,expenses, costs etc, either actual or notional, consequent to suchsale/disposal/ transfer.If the total amounts realized from such sale/disposal/transfer isinsufficient to fulfill the Client’s engagements, commitments,operations, obligations or liabilities in entirety, the Client shall,forthwith and without demur, upon being requested by ICICISecurities, furnish the balance amount together with interest at suchrate as decided by ICICI Securities and for costs and expenses fromtime to time. ICICI Securities shall also have the right to sell/dispose/transfer any other securities of the Client, at the cost of the Clientand without intimation to the Client.

The Margin Securities shall be at the disposal of ICICI Securities andremain available in respect of the obligations, liabilities orcommitments of the Client and may be utilized with the discretionof ICICI Securities.The Client agrees that ICICI Securities shall be entitled to sell, pledge,block / unblock, deal with or otherwise transfer the Margin Securitiesto any third party, including the Clearing Corporation/House of therespective exchanges (if acceptable by exchanges )and declare tothe third party that all the Margin Securities are being provided tosuch parties as securities being the unencumbered, absolute anddisposable property of ICICI Securities and free from any prior charge,lien or encumbrance, and to execute transfer documents and/or anyother necessary documents, wherever applicable or otherendorsements for this purpose. ICICI Securities shall be entitled toreceive from the Client all costs, charges, expenses incurred by ICICISecurities for the aforesaid purposes as well as any consent,ratification or the like which shall not be withheld or delayed for anyreason and in case of failure of which ICICI Securities is herebypermitted and authorized to provide the same for and on behalf ofthe Client.Further that it is hereby agreed that benefits such as dividends,bonus, redemption benefits, interest accruing on the MarginSecurities during the period of transfer except post invocation ofthe pledge in favour of ICICI Securities or selling or disposing orotherwise effecting any transfer of the Margin Securities above shallaccrue to the Client and the Client shall be entitled to receive thesame from ICICI Securities.The Client agrees that the Margin Securities shall continue to beavailable to ICICI Securities under the facility and the same shall notbe affected in any manner whatsoever by any action by ICICISecurities against the Client including suspension or termination ofany of the Account with ICICI Securities or of the facility.I/We confirm having read and understood the above terms and agreeto be bound these terms.

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RISK DISCLOSURE DOCUMENT FOR CAPITAL MARKETAND DERIVATIVES SEGMENTS

This document containsimportant information ontrading in Equities/Deriv-atives Segments of the stockexchanges. All prospectiveconstituents should read thisdocument before trading inE q u i t i e s / D e r i v a t i v e sSegments of the Exchanges.

Stock exchanges/SEBI doesneither singly or jointly andexpressly nor impliedlyguarantee nor make anyrepresentation concerningthe completeness, theadequacy or accuracy of thisdisclosure document norhave Stock exchanges /SEBIendorsed or passed anymerits of partici-pating inthe trading segments. Thisbrief statement does notdisclose all the risks andother significant aspects oftrading.

In the light of the risksinvolved, you should under-take transactions only if youunderstand the nature of therelationship into which youare entering and the extentof your exposure to risk.

You must know andappreciate that trading inEquity shares, derivativescontracts or otherinstruments traded on theStock Exchange, which havevarying element of risk, isgenerally not an appropriateavenue for someone oflimited resources/limited

investment and/or tradingexperience and low risktolerance. You shouldtherefore carefully considerwhether such trading issuitable for you in the lightof your financial condition.In case you trade on Stockexchanges and sufferadverse conse-quences orloss, you shall be solelyresponsible for the same andStock exchanges/itsClearing Corporation and/orSEBI shall not beresponsible, in any mannerwhatsoever, for the sameand it will not be open foryou to take a plea that noadequate disclosureregarding the risks involvedwas made or that you werenot explained the full riskinvolved by the concernedstock broker. The constituentshall be solely responsiblefor the consequ-ences andno contract can be rescindedon that account. You mustackno-wledge and acceptthat there can be noguarantee of profits or noexception from losses whileexecuting orders forpurchase and/or sale of aderivative contract beingtraded on Stock exchanges.

It must be clearly under-stood by you that yourdealings on Stock exch-anges through a stockbroker shall be subject toyour fulfilling certain forma-lities set out by the stock

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broker, which may inter aliainclude your filling the knowyour client form, reading therights and obligations, do’sand don’ts, etc., and aresubject to the Rules, Byelawsand Regulations of relevantStock exchanges, itsClearing Corp-oration,guidelines prescribed bySEBI and in force from timeto time and Circulars as maybe issued by Stockexchanges or its ClearingCorporation and in forcefrom time to time.

Stock exchanges does notprovide or purport toprovide any advice and shallnot be liable to any personwho enters into any businessrelationship with any stockbroker of Stock exchangesand/or any third party basedon any information contai-ned in this document. Anyinformation contained in thisdocument must not beconstrued as businessadvice. No consideration totrade should be madewithout thoroughly underst-anding and reviewing therisks involved in suchtrading. If you are unsure,you must seek professionaladvice on the same.

In considering whether totrade or authorize someoneto trade for you, you shouldbe aware of or must getacquainted with thefollowing:-

1. BASIC RISKS:1.1 Risk of Higher Volatility:

Volatility refers to the

dynamic changes in pricethat a security/derivativescontract undergoes whentrading activity continues onthe Stock Exchanges.Generally, higher thevolatility of a security/derivatives contract, greateris its price swings. Theremay be normally greatervolatility in thinly tradedsecurities / derivativescontracts than in activesecurities /derivatives contr-acts. As a result of volatility,your order may only bepartially executed or notexecuted at all, or the priceat which your order gotexecuted may be substa-ntially different from the lasttraded price or changesubstantially thereafter,resulting in notional or reallosses.

1.2 Risk of Lower Liquidity:Liquidity refers to the abilityof market participants tobuy and/or sell securities /derivatives contracts expe-ditiously at a competitiveprice and with minimal pricedifference. Generally, it isassumed that more thenumbers of orders availablein a market, greater is theliquidity. Liquidity isimportant because withgreater liquidity, it is easierfor investors to buy and/orsell securities / derivativescontracts swiftly and withminimal price difference,and as a result, investors aremore likely to pay or receivea competitive price forsecurities / derivatives

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contracts purchased or sold.There may be a risk of lowerliquidity in some securities /derivatives contracts ascompared to active secu-rities / derivatives contracts.As a result, your order mayonly be partially executed,or may be executed withrelatively greater pricedifference or may not beexecuted at all.

1.2.1 Buying or selling securities/ derivatives contracts as partof a day trading strategy mayalso result into losses,because in such a situation,securities / derivativescontracts may have to besold / purchased at low / highprices, compared to theexpected price levels, so asnot to have any openposition or obligation todeliver or receive a security/ derivatives contract.

1.3 Risk of Wider Spreads:Spread refers to thedifference in best buy priceand best sell price. Itrepresents the differentialbetween the price of buyinga security / derivativescontract and immediatelyselling it or vice versa. Lowerliquidity and higher volatilitymay result in wider thannormal spreads for lessliquid or illiquid securities /derivatives contracts. This inturn will hamper better priceformation.

1.4 Risk-reducing orders:The placing of orders (e.g.,“stop loss” orders, or “limit”orders) which are intendedto limit losses to certain

amounts may not beeffective many a timebecause rapid movement inmarket conditions maymake it impossible toexecute such orders.

1.4.1 A “market” order will beexecuted promptly, subjectto availability of orders onopposite side, withoutregard to price and that,while the customer mayreceive a prompt executionof a “market” order, theexecution may be atavailable prices ofoutstanding orders, whichsatisfy the order quantity, onprice time priority. It may beunderstood that these pricesmay be significantly differentfrom the last traded price orthe best price in that security/ derivatives contract.

1.4.2 A “limit” order will beexecuted only at the “limit”price specified for the orderor a better price. However,while the customer receivesprice protection, there is apossibility that the ordermay not be executed at all.

1.4.3 A stop loss order isgenerally placed “away”from the current price of astock / derivatives contract,and such order getsactivated if and when thesecurity / derivativescontract reaches, or tradesthrough, the stop price. Sellstop orders are enteredordinarily below the currentprice, and buy stop ordersare entered ordinarily abovethe current price. When the

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security / derivativescontract reaches the pre -determined price, or tradesthrough such price, the stoploss order converts to amarket/limit order and isexecuted at the limit orbetter. There is no assurancetherefore that the limit orderwill be executable since asecurity / derivatives con-tract might penetrate thepre-determined price, inwhich case, the risk of suchorder not getting executedarises, just as with a regularlimit order.

1.5 Risk of News Announce-ments:News announcements thatmay impact the price ofstock / derivatives contractmay occur during trading,and when combined withlower liquidity and highervolatility, may suddenlycause an unexpectedpositive or negativemovement in the price of thesecurity / contract.

1.6 Risk of Rumors:Rumors about companies /currencies at times float inthe market through word ofmouth, newspapers, web-sites or news agencies, etc.The investors should be waryof and should desist fromacting on rumors.

1.7 System Risk:High volume trading willfrequently occur at themarket opening and beforemarket close. Such highvolumes may also occur atany point in the day. These

may cause delays in orderexecution or confirmation.

1.7.1 During periods of volatility,on account of marketparticipants continuouslymodifying their orderquantity or prices or placingfresh orders, there may bedelays in order executionand its confirmations.

1.7.2Under certain marketconditi-ons, it may bedifficult or impossible toliquidate a position in themarket at a reasonable priceor at all, when there are nooutstanding orders either onthe buy side or the sell side,or if trading is halted in asecurity / derivativescontract due to any actionon account of unusualtrading activity or security /derivatives contract hittingcircuit filters or for any otherreason.

1.8 System/Network Conges-tion:Trading on exchanges is inelectronic mode, based onsatellite/leased line basedcommunications, comb-ination of technologies andcomputer systems to placeand route orders. Thus, thereexists a possibility ofcommunication failure orsystem problems or slow ordelayed response fromsystem or trading halt, orany such other problem/glitch whereby not beingable to establish access tothe trading system/network,which may be beyond

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control and may result indelay in processing or notprocessing buy or sellorders either in part or in full.You are cautioned to notethat although theseproblems may be temporaryin nature, but when you haveoutstanding open positionsor unexecuted orders, theserepresent a risk because ofyour obligations to settle allexecuted transactions.

2. As far as Derivativessegments are concerned,please note and get yourselfacquainted with thefollowing additional feat-ures:-

2.1 Effect of “Leverage” or“Gearing”:In the derivatives market, theamount of margin is smallrelative to the value of thederivatives contract so thetransactions are ‘leveraged’or ‘geared’. Derivativestrading, which is conductedwith a relatively smallamount of margin, providesthe possibility of great profitor loss in comparison withthe margin amount. Buttransactions in derivativescarry a high degree of risk.You should therefore comp-letely understand thefollowing statements beforeactually trading in derivat-ives and also trade withcaution while taking intoaccount one’s circu-mstan-ces, financial resources, etc.If the prices move againstyou, you may lose a part ofor whole margin amount in

a relatively short period oftime. Moreover, the loss mayexceed the original marginamount.

A. Futures trading involve dailysettlement of all positions.Every day the open positionsare marked to market basedon the closing level of theindex / derivatives contract.If the contract has movedagainst you, you will berequired to deposit theamount of loss (notional)resulting from suchmovement. This amount willhave to be paid within astipulated time frame, gen-erally before commen-cement of trading on nextday.

B. If you fail to deposit theadditional amount by thedeadline or if an outstandingdebt occurs in your account,the stock broker mayliquidate a part of or thewhole position or substitutesecurities. In this case, youwill be liable for any lossesincurred due to such close-outs.

C. Under certain market con-ditions, an investor may findit difficult or impossible toexecute transactions. Forexample, this situation canoccur due to factors such asilliquidity i.e. when there areinsufficient bids or offers orsuspension of trading due toprice limit or circuit breakersetc.

D. In order to maintain marketstability, the following steps

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may be adopted: changes inthe margin rate, increases inthe cash margin rate orothers. These new measuresmay also be applied to theexisting open interests. Insuch conditions, you will berequired to put up additionalmargins or reduce yourpositions.

E. You must ask your broker toprovide the full details ofderivatives contracts youplan to trade i.e. the contractspecifications and theassociated obligations.

2.2 Currency specific risks:1. The profit or loss in

transactions in foreigncur rency-den-ominatedcontracts, whether they aretraded in your own oranother jurisdiction, will beaffected by fluctuations incurrency rates where thereis a need to convert from thecurrency denomination ofthe contract to anothercurrency.

2. Under certain market condi-tions, you may find itdifficult or impossible toliquidate a position. This canoccur, for example when acurrency is deregulated orfixed trading bands arewidened.

3. Currency prices are highlyvolatile. Price movementsfor currencies are influencedby, among other things:changing supply-demandrelationships; trade, fiscal,monetary, exchange control

programs and policies ofgovernments; foreignpolitical and economicevents and policies; changesin national and internationalinterest rates and inflation;currency devaluation; andsentiment of the marketplace. None of these factorscan be controlled by anyindividual advisor and noassurance can be given thatan advisor ’s advice willresult in profitable trades fora participating customer orthat a customer will notincur losses from suchevents.

2.3 Risk of Option holders:1. An option holder runs the

risk of losing the entireamount paid for the optionin a relatively short period oftime. This risk reflects thenature of an option as awasting asset whichbecomes worthless when itexpires. An option holderwho neither sells his optionin the secondary market norexercises it prior to itsexpiration will necessarilylose his entire investment inthe option. If the price of theunderlying does not changein the anticipated directionbefore the option expires, toan extent sufficient to coverthe cost of the option, theinvestor may lose all or asignificant part of hisinvestment in the option.

2. The Exchanges may imposeexercise restrictions andhave absolute authority torestrict the exercise of

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options at certain times inspecified circum-stances.

2.4 Risks of Option Writers:1. If the price movement of the

underlying is not in theanticipated direction, theoption writer runs the risksof losing substantialamount.

2. The risk of being an optionwriter may be reduced by thepurchase of other options onthe same underlying interestand thereby assuming aspread position or byacquiring other types ofhedging positions in theoptions markets or othermarkets. However, evenwhere the writer hasassumed a spread or otherhedging position, the risksmay still be significant. Aspread position is notnecessarily less risky than asimple ‘long’ or ‘short’position.

3. Transactions that involvebuying and writing multipleoptions in combination, orbuying or writing options incombination with buying orselling short the underlyinginterests, present additionalrisks to investors.Combination transactions,such as option spreads, aremore complex than buyingor writing a single option.And it should be furthernoted that, as in any area ofinvesting, a complexity notwell understood is, in itself,a risk factor. While this is not

to suggest that combinationstrategies should not beconsidered, it is advisable, asis the case with allinvestments in options, toconsult with someone whois experienced andknowledgeable with respectto the risks and potentialrewards of com-binationtransactions under variousmarket circumstances.

3. TRADING THROUGH WIRE-LESS TECHNOLOGY/SMART ORDER ROUTINGOR ANY OTHER TECHN-OLOGY:Any additional provisionsdefining the features, risks,responsibilities, obligationsand liabilities associated withsecurities trading throughwireless technology/ smartorder routing or any othertechnology should bebrought to the notice of theclient by the stock broker.

4. GENERAL4.1 The term ‘constituent’ shall

mean and include a client, acustomer or an investor, whodeals with a stock broker forthe purpose of acquiringand/or selling of securities /deriva-tives contractsthrough the mechanismprovided by the Exchanges.

4.2 The term ‘stock broker’ shallmean and include a stockbroker, a broker or a stockbroker, who has beenadmitted as such by theExchanges and who holds aregistration certificate fromSEBI.

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POLICIES AND PROCEDURES PERTAINING TO DEALING WITHCLIENTS

A. Refusal of order(s) from the clients including for penny stocks

ICICI Securities Ltd (hereinafter referred as I-Sec) normally offer trad-ing facility in most of the compulsory dematerialized stocks whichare listed of on the stock exchanges. The stocks offered by I-Sec areduly updated on www.icicidirect.com (hereinafter referred aswebsite). Please note that some of the stocks such as

· penny stocks which is generally understood to bestocks quoted below 10/-. I-sec reserves the right tocharge minimum brokerage on penny stocks

· scrips not traded in compulsorily dematerialized mode· scrips which do not meet internal risk and surveillance

criteria are not allowed by I-Sec for trading. Any ex-isting scrip enabled for trading may be deactivated byI-Sec as and when such scrips meet the criteria asdefined by I-Sec even if the Client had bought suchscrips through I-Sec thereby restricting the Client’sability to sell the scrip. Being a penny stock is not acriteria for enabling / disabling, though the same maybe considered. I-Sec cannot be held responsible forany losses, if any, arising due to deactivation of thescrip. Clients may contact our customer servicehelpline for enabling the specific stocks in which trad-ing is not allowed by I-Sec. However, I-Sec may notenable all such stocks which are requested by the cli-ents if the same are not meeting the internal criteriaas defined by the Company from time to time. Fur-ther, I-Sec may also at any time, at its sole discretionand without prior notice to the client, prohibit or re-strict client’s access to the use of the web-site or re-lated services or in any specific security and client’sability to trade.

B. Client Exposure LimitsFrom time to time I-Sec may impose and vary limits on the ordersplaced by client or orders to be placed by client, including client adhoc margin , security ad hoc margin, exposure limits, turnover lim-its, limits as to numbers etc. I-Sec may demand additional marginin the form of cash, securities if there are requirement for margintop up. This additional margin would be in addition to the initialmargin, which may be higher than margin prescribed by the Ex-change.

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C. Squaring off / Closing client open positions and sell out of clientsecurities without noticeI-Sec shall have the discretion to square off the open positions ofclient in following circumstances. Square off / close out the clientopen positions may happen at any of the exchanges and it can hap-pen at either market price or limit price. I-Sec reserves the right todecide the limit price keeping in view of the size of the order and thedepth of the market. Specific features of each and every productare updated on the Frequently Asked Questions and also in Termsand Conditions which is updated on the website of the Company.Clients are bound by such online terms and conditions and the FAQsposted on the website. The conditions related to squaring off/closeout of the clients’ open positions and also liquidation in Cash Eq-uity, Equity Derivative and Currency Derivative segments are broadlyincluded as:1 I-Sec offers intra day products Margin and Margin Plus in Eq-

uity segment and Future Plus and OptionPlus in Derivativessegment. If the client does not square off his open positionsbefore the EOS (end of settlement) time (as updated on ourwebsite) or the client does not convert the open positions todelivery or does not opt for client square off mode (in case ofequity) or does not convert to Futures (in case of Future Plus),I-Sec would square off/close out the open positions. On thedays of high market volatility , I-Sec reserves the right tochange the EOS timings by either pre-poning or postponingthe same. Further, whenever any stock or underlying contractbreaches the internally prescribed percentage, I-Sec maysquare off the existing open positions without giving any priornotice to the customers since such squaring off is not depen-dent upon margin availability in Client’s account.

2 I-Sec does not guarantee to square off the open positions ofthe clients, whenever there are margins shortages or the pricesmoved beyond the prescribed percentage. The clients aresolely responsible for the trading decisions taken by them.In case of any debit balance, clients have to make good losseswithout demur, immediately. I-Sec has the right to block/pledgethe shares of the client which are lying in his designated andlinked demat account, sale of those stocks to recover its duesand debit funds from the designated and linked bank account.

3 For Equity and Currency derivatives contracts, the client hasto maintain applicable minimum margin all the time i.e. tillpositions are open. I-Sec reserves the right to revise the mar-gin requirements at any point of time and if the client does notmeet the margin requirements, I-Sec has the right to squareoff the open positions to the extent that the existing marginafter deducting intraday MTM losses meets the revised Initial

45

Margin requirements of I-Sec for the remaining open positions.I-Sec at its sole discretion may or may not exercise the rightsto square off the positions which are not meeting the marginrequirements. Further, the client has been provided with toolon the website itself where he can ascertain details of his ex-isting margin blocked, margins required, MTM loss adjustment,margin percentage etc. The margin requirement derived byuse of these tools will be construed as demand for the addi-tional margin required by I-Sec. I-Sec may not inform specific(one to one) clients about the margin requirements/margintop up calls/margin availability before the square off. Clientsare bound to monitor and review their open positions andmargin requirements all the times and furnish the additionalmargin to the Company.

4 In case of breach in scrip specific market wide position limit(MWPL) as specified by Exchanges, client will not be allowedto take fresh positions in that scrip but he can square off hisexisting positions. Square off may be initiated by I-Sec in caseof derivatives when the positions limits (client level,TradingMember level, market level) are breached.

5 All clients have to comply with the contract level margin re-quirements in Equity and Currency derivatives segments. Whilesquaring off client open positions, I-Sec does not consider themark to market (MTM) profit on other contracts in portfolio ofthe clients. I-Sec has the discretion to charge margins at thegroup of contract level or at portfolio level. To understand themargin calculations and requirements, clients are required torefer on-line information which is updated in FAQs and in theTerms and Conditions.

6 While squaring off the open positions, the free limits availablein only that specific segment, where client has taken positionare considered. While squaring off the open positions, freeunallocated bank or demat balances and the free limits avail-able in other segments are not considered as margin by I-Sec.However, I-Sec reserves the right to debit the free/unallocatedbalances or block/sale of free/unallocated shares in case ofdebit balance in the clients account.

7 In case the intra day equity products are converted to deliverythe client has to meet the pay in obligation within due date i.e.by T+2 day. I-Sec reserves the right to square off requiredquantity in case the margin available on such pending deliv-ery positions does not meet I-Sec’s margin requirements asprovided on the website. In case of intra day F&O/Currencyderivatives products, the converted positions are treated at parwith normal F&O/Currency derivatives positions.

46

D. Internal ShortagesAs per the prevailing guidelines, the Trading Members settle withstock exchanges at Trading Member level and at net scrip level ba-sis. However, I-Sec settles transactions with clients at client leveland has the scope for internal shortages. The internal shortages aremarked against the clients randomly at the discretion of I-Sec. Theshares are purchased in the defaulting clients account before T+3day and the delivery of shares is given to the buyer by T+6 day. Anychange in the policy would be updated on our website.

E. Restriction on further position and closeout of positionsClient shall be responsible for all his orders, including any orders,which exceed the available limits in his client Account. The clientshall credit the required fund to his linked Bank Account with ICICIBank promptly to ensure that the payment shall be received andprocessed on or prior to the settlement date or a date intimated bythe I-Sec, whichever is earlier. If the payment is not received as afore-said, then I-Sec may square off the same without any prior intima-tion to the client. In the event of liquidation of the open positions,the client shall be liable for any resultant losses and all associatedcosts incurred by I-Sec. In addition to these clauses, the conditionsspecified above in mentioned point number c are also applicable.The client understands that I-Sec at any point time and on its solediscretion and without prior notice to the client may prohibit or re-strict client’s access to the use of the web-site or related services orin any specific security and client’s ability to trade.

F. Penalty and other chargesThe client shall be liable to pay interest on late payment @ 0.065%per day at such rate (or other rate as may be decided from time totime by ICICI Securities Ltd. ) on all late payment beyond the duedate (i.e. pay-in-date) by the client to ICICI Securities Ltd.

G. Suspension / Closure of Trading AccountICICI Securities may close/suspend the trading account of clientpursuant to SEBI directive or for any reason whatsoever, after giv-ing notice as per the requirements to the client of the same. Suchnotice may also be posted on our website. Notwithstanding any suchclosure, all rights, liabilities and obligations of the parties arisingout of or in respect of transactions entered into prior to the closureof account shall continue to subsist and vest in /be binding on theclient or his / its respective heirs, executors, administrators, legalrepresentatives or successors, as the case may be. Client can ini-tiate suspend/closure of his account by giving 30 days written no-tice duly acknowledged by I-Sec. Presently, I-Sec does not deacti-vate any of the inactive accounts. Any change in policy would beupdated on our website.

47

H. De registering of clientI-Sec may in its own discretion de register the client. The terms andconditions as specified in the client member Agreements/accountopening documents would be applicable.

I. Inactive accountsA trading account in which no trades are done across any segmentof any Exchange for six months would be termed as “Inactive” or“Dormant” trading account. I- Sec does not freeze any “Inactive” or“Dormant” trading account. However any trade emanating fromsuch trading accounts pursuant to the same being classified as “In-active” or “Dormant” trading account would be subject to neces-sary due diligences and confirmations as I-Sec may deem fit.I have read and understood the above policies.

48

GUIDANCE NOTE - DO’s AND DON’Ts FOR TRADING ON THEEXCHANGE(S) FOR INVESTORS

BEFORE YOU BEGIN TO TRADE1. Ensure that you deal with and through only SEBI registered

intermediaries. You may check their SEBI registration certificatenumber from the list available on the Stock exchanges BSE -www.bseindia.com, NSE- www.nseindia.com and SEBI websitewww.sebi.gov.in

2. Ensure that you fill the KYC form completely and strike off theblank fields in the KYC form.

3. Ensure that you have read all the mandatory documents viz.Rights and Obligations, Risk Disclosure Document, Policy andProcedure document of the stock broker.

4. Ensure to read, understand and then sign the voluntary clauses,if any, agreed between you and the stock broker. Note that theclauses as agreed between you and the stock broker cannot bechanged without your consent.

5. Get a clear idea about all brokerage, commissions, fees andother charges levied by the broker on you for trading and therelevant provisions/ guidelines specified by SEBI/Stockexchanges.

6. Obtain a copy of all the documents executed by you from thestock broker free of charge.

7. In case you wish to execute Power of Attorney (POA) in favourof the Stock broker, authorizing it to operate your bank anddemat account, please refer to the guidelines issued by SEBI/Exchanges in this regard.

TRANSACTIONS AND SETTLEMENTS8. The stock broker may issue electronic contract notes (ECN) if

specifically authorized by you in writing. You should provideyour email id to the stock broker for the same. Don’t opt for

49

ECN if you are not familiar with computers.9. Don’t share your internet trading account’s password with

anyone.

10. Don’t make any payment in cash to the stock broker.

11. Make the payments by account payee cheque in favour of thestock broker. Don’t issue cheques in the name of sub-broker.Ensure that you have a documentary proof of your payment/deposit of securities with the stock broker, stating date, scrip,quantity, towards which bank/ demat account such money orsecurities deposited and from which bank/ demat account.

12. Note that facility of Trade Verification is available on stockexchanges’ websites, where details of trade as mentioned in thecontract note may be verified. Where trade details on the websitedo not tally with the details mentioned in the contract note,immediately get in touch with the Investors Grievance Cell ofthe relevant Stock exchange.

13. In case you have given specific authorization for maintainingrunning account, payout of funds or delivery of securities (asthe case may be), may not be made to you within one workingday from the receipt of payout from the Exchange. Thus, thestock broker shall maintain running account for you subject tothe following conditions:

a) Such authorization from you shall be dated, signed by youonly and contains the clause that you may revoke the same atany time.b) The actual settlement of funds and securities shall be doneby the stock broker, at least once in a calendar quarter ormonth, depending on your preference. While settling theaccount, the stock broker shall send to you a ‘statement ofaccounts’ containing an extract from the client ledger forfunds and an extract from the register of securities displayingall the receipts/deliveries of funds and securities. Thestatement shall also explain the retention of funds and

50

securities and the details of the pledged shares, if any.c) On the date of settlement, the stock broker may retain therequisite securities/funds towards outstanding obligations andmay also retain the funds expected to be required to meetderivatives margin obligations for next 5 trading days,calculated in the manner specified by the exchanges. Inrespect of cash market transactions, the stock broker mayretain entire pay-in obligation of funds and securities due fromclients as on date of settlement and for next day’s business,he may retain funds/securities/margin to the extent of valueof transactions executed on the day of such settlement in thecash market.d) You need to bring any dispute arising from the statementof account or settlement so made to the notice of the stockbroker in writing preferably within 7 (seven) working days fromthe date of receipt of funds/securities or statement, as thecase may be. In case of dispute, refer the matter in writing tothe Investors Grievance Cell of the relevant Stock exchangeswithout delay.

14. In case you have not opted for maintaining running account andpay-out of funds/securities is not received on the next workingday of the receipt of payout from the exchanges, please referthe matter to the stock broker. In case there is dispute, ensurethat you lodge a complaint in writing immediately with theInvestors Grievance Cell of the relevant Stock exchange.

15. Please register your mobile number and email id with the stockbroker, to receive trade confirmation alerts/ details of thetransactions through SMS or email, by the end of the tradingday, from the stock exchanges.

IN CASE OF TERMINATION OF TRADING MEMBERSHIP16. In case, a stock broker surrenders his membership, is expelled

from membership or declared a defaulter; Stock exchangesgives a public notice inviting claims relating to only the“transactions executed on the trading system” of Stock

51

exchange, from the investors. Ensure that you lodge a claimwith the relevant Stock exchanges within the stipulated periodand with the supporting documents.

17. Familiarize yourself with the protection accorded to the moneyand/or securities you may deposit with your stock broker,particularly in the event of a default or the stock broker’sinsolvency or bankruptcy and the extent to which you mayrecover such money and/or securities may be governed by theBye-laws and Regulations of the relevant Stock exchange wherethe trade was executed and the scheme of the Investors’Protection Fund in force from time to time.

DISPUTES/ COMPLAINTS18. Please note that the details of the arbitration proceedings, penal

action against the brokers and investor complaints against thestock brokers are displayed on the website of the relevant Stockexchange.

19. In case your issue/problem/grievance is not being sorted out byconcerned stock broker/sub-broker then you may take up thematter with the concerned Stock exchange. If you are notsatisfied with the resolution of your complaint then you canescalate the matter to SEBI.

20. Note that all the stock broker/sub-brokers have been mandatedby SEBI to designate an e-mail ID of the grievance redressaldivision/compliance officer exclusively for the purpose ofregistering complaints.

52

Rights and Obligations of Beneficial Owner and DepositoryParticipant as prescribed by SEBI and Depositories

General Clause1. The Beneficial Owner and the Depository participant (DP) shallbe bound by the provisions of the Depositories Act, 1996, SEBI(Depositories and Participants) Regulations, 1996, Rules andRegulations of Securities and Exchange Board of India (SEBI),Circulars/Notifications/Guidelines issued there under, Bye Laws andBusiness Rules/Operating Instructions issued by the Depositoriesand relevant notifications of Government Authorities as may be inforce from time to time.

2. The DP shall open/activate demat account of a beneficial ownerin the depository system only after receipt of complete Accountopening form, KYC and supporting documents as specified by SEBIfrom time to time.

Beneficial Owner information3. The DP shall maintain all the details of the beneficial owner(s) asmentioned in the account opening form, supporting documentssubmitted by them and/or any otherinformation pertaining to the beneficial owner confidentially andshall not disclose the same to any person except as required by anystatutory, legal or regulatory authority in this regard.

4. The Beneficial Owner shall immediately notify the DP in writing,if there is any change in details provided in the account openingform as submitted to the DP at the time of opening the demataccount or furnished to the DP from time to time.

Fees/Charges/Tariff5. The Beneficial Owner shall pay such charges to the DP for thepurpose of holding and transfer of securities in dematerialized formand for availing depository services as may be agreed to from timeto time between the DP and the Beneficial Owner as set out in the

53

Tariff Sheet provided by the DP. It may be informed to the BeneficialOwner that “no charges are payable for opening of demat accounts”

6. In case of Basic Services Demat Accounts, the DP shall adhere tothe charge structure as laid down under the relevant SEBI and/orDepository circulars/directions/notifications issued from time totime.

7. The DP shall not increase any charges/tariff agreed upon unless ithas given a notice inwriting of not less than thirty days to the Beneficial Owner regardingthe same.

Dematerialization8. The Beneficial Owner shall have the right to get the securities,which have been admitted on the Depositories, dematerialized inthe form and manner laid down under the Bye Laws, Business Rulesand Operating Instructions of the depositories.

Separate Accounts9. The DP shall open separate accounts in the name of each of thebeneficial owners and securities of each beneficial owner shall besegregated and shall not be mixed up with the securities of otherbeneficial owners and/or DP’s own securities held in dematerializedform.

10. The DP shall not facilitate the Beneficial Owner to create or permitany pledge and /or hypothecation or any other interest orencumbrance over all or any of such securities submitted fordematerialization and/or held in demat account except in the formand manner prescribed in the Depositories Act, 1996, SEBI(Depositories and Participants) Regulations, 1996 and Bye-Laws/Operating Instructions/Business Rules of the Depositories.

Transfer of Securities11. The DP shall effect transfer to and from the demat accounts ofthe Beneficial Owner only on the basis of an order, instruction,

54

direction or mandate duly authorized by the Beneficial Owner andthe DP shall maintain the original documents and the audit trail ofsuch authorizations.

12. The Beneficial Owner reserves the right to give standinginstructions with regard to the crediting of securities in his demataccount and the DP shall act according to such instructions.

Statement of account13. The DP shall provide statements of accounts to the beneficialowner in such form and manner and at such time as agreed withthe Beneficial Owner and as specified by SEBI/depository in thisregard.

14. However, if there is no transaction in the demat account, or if thebalance has become Nil during the year, the DP shall send onephysical statement of holding annually to such BOs and shall resumesending the transaction statement as and when there is a transactionin the account.

15. The DP may provide the services of issuing the statement ofdemat accounts in an electronic mode if the Beneficial Owner sodesires. The DP will furnish to the Beneficial Owner the statementof demat accounts under its digital signature, as governed underthe Information Technology Act, 2000. However if the DP does nothave the facility of providing the statement of demat account in theelectronic mode, then the Participant shall be obliged to forwardthe statement of demat accounts in physical form.

16. In case of Basic Services Demat Accounts, the DP shall send thetransaction statements as mandated by SEBI and/or Depository fromtime to time.

Manner of Closure of Demat account17. The DP shall have the right to close the demat account of theBeneficial Owner, for any reasons whatsoever, provided the DP hasgiven a notice in writing of not less than thirty days to the BeneficialOwner as well as to the Depository. Similarly, the Beneficial Owner

55

shall have the right to close his/her demat account held with the DPprovided no charges are payable by him/her to the DP. In such anevent, the Beneficial Owner shall specify whether the balances intheir demat account should be transferred to another demat accountof the Beneficial Owner held with another DP or to rematerialize thesecurity balances held.

18. Based on the instructions of the Beneficial Owner, the DP shallinitiate the procedure for transferring such security balances orrematerialize such security balances within a period of thirty daysas per procedure specified from time to time by the depository.Provided further, closure of demat account shall not affect the rights,liabilities and obligations of either the Beneficial Owner or the DPand shall continue to bind the parties to their satisfactory completion.

Default in payment of charges19. In event of Beneficial Owner committing a default in the paymentof any amount provided in Clause 5 & 6 within a period of thirty daysfrom the date of demand, without prejudice to the right of the DP toclose the demat account of the Beneficial Owner, the DP may chargeinterest at a rate as specified by the Depository from time to timefor the period of such default.

20. In case the Beneficial Owner has failed to make the payment ofany of the amounts as provided in Clause 5&6 specified above, theDP after giving two days notice to the Beneficial Owner shall havethe right to stop processing of instructions of the Beneficial Ownertill such time he makes the payment along with interest, if any.

Liability of the Depository21. As per Section 16 of Depositories Act, 1996,

1. Without prejudice to the provisions of any other law for thetime being in force, any loss caused to the beneficial ownerdue to the negligence of the depository or the participant,the depository shall indemnify such beneficial owner.

56

2. Where the loss due to the negligence of the participant underClause (1) above, is indemnified by the depository, thedepository shall have the right to recover the same from suchparticipant.

Freezing/ Defreezing of accounts22. The Beneficial Owner may exercise the right to freeze/defreezehis/her demat account maintained with the DP in accordance withthe procedure and subject to the restrictions laid down under theBye Laws and Business Rules/Operating Instructions.

23. The DP or the Depository shall have the right to freeze/defreezethe accounts of the Beneficial Owners on receipt of instructionsreceived from any regulator or court or any statutory authority.

Redressal of Investor grievance

24. The DP shall redress all grievances of the Beneficial Owner againstthe DP within a period of thirty days from the date of receipt of thecomplaint.

Authorized representative

25. If the Beneficial Owner is a body corporate or a legal entity, itshall, along with the account opening form, furnish to the DP, a listof officials authorized by it, who shall represent and interact on itsbehalf with the Participant. Any change in such list includingadditions, deletions or alterations thereto shall be forthwithcommunicated to the Participant.

Law and Jurisdiction

26. In addition to the specific rights set out in this document, the DPand the Beneficial owner shall be entitled to exercise any other rightswhich the DP or the Beneficial Owner may have under the Rules,Bye Laws and Regulations of the respective Depository in which thedemat account is opened and circulars/notices issued there underor Rules and Regulations of SEBI.

57

27. The provisions of this document shall always be subject toGovernment notification, any rules, regulations, guidelines andcirculars/ notices issued by SEBI and Rules, Regulations and Bye-laws of the relevant Depository, where the Beneficial Ownermaintains his/ her account, that may be in force from time to time.

28. The Beneficial Owner and the DP shall abide by the arbitrationand conciliation procedure prescribed under the Bye-laws of thedepository and that such procedure shall be applicable to anydisputes between the DP and the Beneficial Owner.

29. Words and expressions which are used in this document butwhich are not defined herein shall unless the context otherwiserequires, have the same meanings as assigned thereto in the Rules,Bye-laws and Regulations and circulars/notices issued there underby the depository and /or SEBI

30. Any changes in the rights and obligations which are specified bySEBI/Depositories shall also be brought to the notice of the clientsat once.

31. If the rights and obligations of the parties hereto are altered byvirtue of change in Rules and regulations of SEBI or Bye-laws, Rulesand Regulations of the relevant Depository, where the BeneficialOwner maintains his/her account, such changes shall be deemed tohave been incorporated herein in modification of the rights andobligations of the parties mentioned in this document.

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SCHEDULE OF CHARGES (FOR RESIDENT NON-CORPORATE)

Fee Head Charges

A. ICICIdirect.com Account

1 Account Opening The account opening fees forICICIdirect.com account is` 975/

B. Bank Account

1. Minimum balance All the new bank accounts opened will haveto maintain requirement an average monthly balance of` 5000/-. Failure to do so would result in a fee as per theregulation of ICICI Bank.

2. If trading account is closed or ICICI Bank account is de-linked,then you would have to maintain minimum balance asapplicable to the respective type of account with ICICI Bank

3. In case you avail any additional facility / service on the linkedICICI Bank account, then you agree to be bound by the termsand conditions and applicable charges for the relevant facility/ service as mandated by ICICI Bank.

C. Brokerage Account

* Customers can choose between I-Saver plan & I-Secure Plan.This choice can also be made by logging on to yourICICIdirect.com account after you receive your tradingpassword.

59

i. BROKERAGE STRUCTURE

CASH & BTST BROKERAGE STRUCTURE

Brokerage ( %age of

transactionvalue ) First leg

Brokerage forSquare off

order SecondLeg *

0.55% 0.275%

Effective Brokeragefor Squareoff order

Nil

ICICIdirect.com I-Secure Brokerage plan

In this brokerage plan 0.55% will be charged irrespective ofturnover value in Cash and BTST transaction.

* Within the same settlement the second leg brokerage will becharged on either buy side or sell side of the trading leg based onthe aggregate value of the buy or sell transaction whichever islower.The minimum brokerage for transactions upto ` 6364 on stocksquoting more than ` 10 is ` 35/- per trade or 2.5% of the tradevalue whichever is lower. Brokerage rates as mentioned above,will be charged for trade value exceeding ` 6364.Brokerage on stocks quoting upto ` 10 would be levied at ` 0.05per share. The total brokerage on such trade would be higher of` 0.05 per share or ` 35, subject to maximum of ` 0.25 per share.All statuory charges would be levied over and above minimumbrokerage.All Equity SIP transactions would attract brokerage equivalent toCash segment. The minimum brokerage for transactions up to` 2727 is ` 15 or 2.5% whichever is lower. All statuory chargeswould be levied over and above minimum brokerage. Brokeragerate mentioned above would be levied for trade value exceeding` 2727.

GST and Security Transaction Tax (STT), Transactioncharges(inclusive of GST), SEBI turnover charges and Stamp Dutycharges will be charged additional as per the applicable rate. (Asmentioned on page 65).

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2. Margin, Margin Plus

Total Eligible Turnover Brokerage

Above ` 20 Crores 0.03%

` 10 Crores to ` 20 Crores 0.035%

` 5 Crores to ` 10 Crores 0.04%

Less Than ` 5 Crores 0.05%

The minimum brokerage upto Rs 50000 would be Rs 25/-per tradeor 2.5% of the trade value whichever is lower. Brokerage rates asmentioned above, will be charged for trade value exceeding Rs50000/-. GST and Securities Transaction Tax (STT), Transactioncharges (inclusive of service tax), SEBI turnover charges andStamp Duty charges will be charged additional as per theapplicable rate. (As mention on page 65).

Computation of Brokerage:

In each leg of transaction, Brokerage @ 0.05% (subject to theminimum of ` 25/- per trade or 2.5% of the trade value whichever is lower will be charged). The appropriate rebate will becalculated at the end of each month based on the total value ofthe transactions, and will be credited to the customer's account.

Late Payment charges will be charged @ 0.05% per day on alldelayed payments beyond pay-in date for positions taken underMargin - Client Square Off mode in NSE. GST of 18% will becharged on the Late payment charges.

Interest will be charged @0.05% per day on all outstandingpayment beyond pay-in date for positions taken under Margin -Client Square Off mode (Margin Trading Facility) in BSE

61

Above `̀̀̀̀` 20 0.030 ` 50/- ` 10/-Crores` 10 Crores to 0.035 ` 50/- ` 10/-` 20 Crores

` 5 Crores to 0.040 ` 50/- ` 10/-` 10 Crores

Less Than 0.050 ` 50/- ` 10/-` 5 Crores

3. DERIVATIVES BROKERAGE SCHEDULE

Total EligibleTurnover

per month

Bro-kerage

(%)

Broker-age onSecondleg* of

Intra DaySquareOff (per

lot)Brokerageon Second

leg* ofIntra Day

Square Off(per lot)

Total

EligibleLots permonth

Above 4800 35 ` 50/-

2401-4800 45 ` 50/-

1201-2400 55 ` 50/-

601-1200 65 ` 50/-

301-600 75 ` 50/-

51-300 85 ` 50/-

1-50 95 ` 50/-

For Equity/Currency Futures

EquityFutures

CurrencyFutures

Option

Flatbroker-

ageper lot

( `̀̀̀̀)

Brokerageon Sec-

ond leg*of Intra

DaySquareOff (per

lot)

GST and Security Transaction Tax (STT), Transaction charges(inclusive of GST), SEBI Turnover Charges and Stamp DutyCharges will be charged additional to the above. (As mentionedon Page 65).

* If you buy and sell the same contract on the same trading day,The second leg brokerage will be charged on either buy sideor sell side of the trading leg based on the aggregate value ofthe buy or sell transaction whichever is lower.

*Eligible Turnover/Lots for futures /options doesn't include thesecond leg of the intra-day squared off contracts where 50 perlot has been charged. It also dosen’t include contracts wherebrokerage benifit under i-gain or bullet plan is availed.

62

* The AUM value will be taken as per Value at NAV of your entireMF holdings, at the time of order placement, as seen on your MFUnit Holdings page. Transaction charges will be applied as perthe new fee structure, accordingly.

The new fee structure applies to all Mutual Fund purchases (ex-cluding those in Liquid fund schemes), started on or after August1, 2009. Accordingly, any purchase in Liquid funds will not belevied transaction fees, irrespective of the value of your MF unitholdings.

4. MF Transaction Charges

The Fees structure for investments in Mutual Funds Units throughwww.icicidirect.com has been revised. Following is the revised Feestructure: GST per Transaction 18% on charges or as applicable time totime.

Less than ` 8 Lakh ` 100 ` 30 or 1.5%whichever is lower

` 8 Lakh or More Nil Nil

AUM* Cut OffCharge Per Transaction

Lump sum Purchase SIP Purchase

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5. Details of Statutory / Regulatory Charges

ChargesCash /

Deliverytransactions

Margin /Margin Plustransactions

Futures/

FuturePlus

Cur-rency

Futures Options

GST 18% on Total value of brokerage

Securi-tiesTrans-actionsTax

0.1% onTurnover

0.025%on

Turnover(Sell

Transac-tion)

0.01%(Trade

value incase ofSELL

trades)

Equity Derivatives :0.017% on Option Pre-mium in case of SELLtrades and 0.125% onintrinsic value** whereOption contracts are ex-ercisedCurrency Derivatives : NIL

Equity Derivatives :0.0002% (On Premiumand Notional value forExercise /Assignment)Currency Derivatives : ̀40 per lakh of PremiumValue in case ofCurrency Options

StampDuty

0.01% ofTurnover

0.002% ofTurnover

0.002%(Trade

value and closeout)

0.002% (On Pre-mium and No-tional value forExercise/ Assign-ment)

NIL

Stamp Dutywill becharged atthe rate of ̀200 perCrore or0 . 0 0 2 %(turnover in-cluding ex-piry)

Transac-tion

Charges*

0.0028% forBSE &

0.0031% forNSE

on Turnover

0.0028%for BSE &0.0031%for NSE

onTurnover

0.00185%(on

Turnover

Equity Derivatives :0.05% (on Premiumamount each side)Currency Derivatives /Option: ̀ 4000 per croreof premium value

SEBITurn-overCharges

0.0015% onTurnover 0.0015%

onTurnover

0.0015%(Trade

value andcloseout)

0.0002%

` 110per crore of

traded

value

* GST on total value of brokerage and applicable charges @ 18% or such otherrate as may be prescribed by government from time to time. # Rates mentioned are applicable in major states. While in some other states stampduty rates may vary and will be charged on actual basis.Clearing charges for trades done in BSE will be recovered @ 0.02 per trade.Additionally contribution to NSE Investor Protection Fund Trust shall be recovered@ 0.00005% (` 0.05 per lakh of turnover) for Currency Futures and @ 0.002%(` 2 per lakh of premium) on Currency Options.Please note the above charges are subject to changes by Regulatory/GovernmentAuthorities.ICICI Securities reserves the right to revise brokerage structure/fees/charges, bydisplay of the same on the website lCICIdirect.com.For more details on the brokerage structure and conditions applicable, please loginto www.icicidirect.com.

**pursuant to Finance (No.2) Act, 2019 and NSE circular no. NSE/FATAX/ 41919dated August 20, 2019.

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NON MANDATORYDOCUMENTS

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"This document is voluntary. Voluntary means that the document isnot prescribed by Regulators, however the same is required by ICICISecurities Limited for offering the 3 in 1 account i.e. seamless tradingplatform with integrated bank account, demat account and brokingaccount. If you do not wish to avail the services of ICICI Bank Limitedand ICICI Securities Limited, you need not execute such documents."

LETTER OF CONFIRMATION

Date:To,ICICI Securities LimitedShree Sawan Knowledge Park,Plot No. D-507, T.T.C.Ind. Area,M.I.D.C., Turbhe, Opp. JuinagarRailway Station,Navi Mumbai-400705.

ICICI Bank LimitedICICI Bank TowersBandra Kurla Complex,Mumbai 400 051.

Dear Sirs,

Sub: Opening of a integrated 3-1 Account for Investment &trading in securities,holding Demater-ializedSecurities, Insurance andother financial products

I/We refer to my/ourapplication for opening ofintegrated 3 in 1 ClientAccount (“Client Account”)with ICICI Securities Limited(hereinafter called “ICICISecurities”) and integratingthe trading account withICICI Bank Savings/currentaccount with ICICI BankLimited (as a Bank,

hereinafter called “ICICIBank”) and with the Demataccount (Dematerialisedaccount in Electronic Form)with ICICI Bank Limited (asa Depository Participant,hereinafter called “ICICIBank”) (hereinafter called“ICICI Bank”) and receipt ofRight and Obligationdocument, Risk Disclosuredocument, Policies andProcedures, Guidance Noteand Rights and Obligationsof Beneficial Owner andDepository Participant.

In consideration ofproviding me Right andObligation document, RiskDisclosure document,Policies and Procedures andGuidance Note and Rightsand Obligations of BeneficialOwner and DepositoryParticipant, I/we herebyagree and confirm that:

A. CLAUSES SPECIFIC TOOPENING OF TRADINGACCOUNT WITH ICICISECURITIES LTD.

1. I/We (hereinafter referred toas “the Client”) shall beentitled to transact in such

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Investment & InsuranceProducts as are introducedon www.icicidir-ect.com(“the Website”), the Websitemaintained by ICICI Sec-urities.These transactionsshall include but shall not belimited to transactions forthe purchase or sale or anorder for the purchase orsale of or an application forany offer or public issue ofshares, scrips, stocks,bonds, debentures, units ofany Mutual Fund or anyother security or financialinstrument, derivatives orcontracts in derivativeadmitted for trading on theDerivative Market Segmentof the Exch- ange, SmallSavings Schemes, Bonds,Fixed Deposits, PublicProvident Fund andInsurance policies, whetherlife or general or otherwise,or financing on referralbasis credit / loan facili-ty(whether secured orunsecured) or such otherproducts or services thatICICI Securities may in itsabsolute discretion introdu-ce or offer from time to time(hereinafter referred to as“Investment Products”).

2.A. CLAUSES SPECIFIC FORDEALING WITH REGIS-TERED INTERMEDIARIES(SUB BROKERS / AUTHO-RISED PERSONS)

2.A.1. I/We am/are desirous of

availing broking servicesthrough the duly registeredintermediary (Sub Broker /Authorised Person) affliatedto ICICI Securities Limited.

2. A.2 All references herein belowmy/our interaction with I-Sec, Unless mentionedother wise will be deemedto be through the registeredintermediary only, till suchtime as I/we opt to be thedirect client of ICICISecurities Limited

2.A.3 I/We are desirous ofparticipating in the trading& investment facility offeredby ICICI Securities Limitedthrough its registeredintermediary and hence I/we confer such authority tothe registered intermediaryto do various acts in relationto the aforesaid accounts inorder to give effect to theinstructions of and otherterms of the documentationexecuted by me/ us withICICI Securities, ICICI Bank(as a Bank) and ICICI bank(as a DepositoryParticipant). I agree andundertake that dealingsundertaken on my behalf bythe registered intermediarywould be in the nature ofoffline trading and only theregistered intermediarywould be entitled to transactthrough ICICI Securitieswebsite including givingorders and instructions to

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ICICI Securities and receiveconfirmations regarding thetransactions executedthrough ICICI SecuritiesLimited. I agree that untilsuch time as I continue totransact through theregistered intermediary, Iwill not be entitled to placeorders directly in myaccount. The facility fordirect trading through thewebsite will be madeavailable to me only after Ibecome an online client ofICICI Securities Limited.

2A. 4. I hereby authorize theregistered intermediary tooperate the linked demataccounts and the bankaccount currently linked tothe ICICIdirect.com accountand those bank and demataccounts that would belinked to the toICICIdirect.com account infuture in order to settletransactions orderedthrough by ICICI Securitieson my/our behalf. In thisregard I/ we herebyauthorize you to placepurchase/ sale/ redemptionorders for securities asdefined under the SecuritiesContracts( Regulation)Act,1956 offered by ICICISecurities Limited to itscustomers, allocate fund,modify fund allocation,make requests forapplication to public issues,modify orders/applications

requests, cancel orders,receive information,confirmations regardingtransactions on ICICISecurities Limited andaccept various terms andconditions, as per theinstructions given by me/usto you over phone,electronically, facsimile or inperson and do all suchrelated activities on behalfon me/us. Further, I / weauthorize the registeredintermediary to apply forvarious services on my/ourbehalf offered by ICICISecurities Limited. I / wehowever, are not conferringany authority on theregistered intermediary todirectly withdraw / transferfunds/demat shares frommy/our above referred bankaccount and demataccount(s). The registeredintermediary will have alimited access to the bankand demat accountsthrough the ICICIdirect.comaccount However, I/Werequest ICICI SecuritiesLimited to provide me/uswith a separate user id andpassword as an additionalfacility only for the limitedpurpose of viewing theorders, transactions, state-ments, contracts, ledgerbalances concerning my/our ICICIdirect.com acc-ount with ICICI Securities.

2A. 5. In case my account is

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sourced by Sub Broker forMutual Fund distribution ordistribution of third partyproducts, hereinafter calledas Independent FinancialAssociate (IFA), I herebyauthorize I-Sec to share mytransaction details withsuch IFA to enable them totrack my investments andprovide necessaryassistance accordingly. Iconfirm that name of theIFA who has introduced /serviced my account isdisplayed in general profileon www.icicidirect.com. Ifurther authorize my IFA toplace orders in Mutual Fundand other InvestmentProducts on my instruction.

2. B. Clauses specific to facility ofproviding a separate user idand password to view thetransactions to “off lineclients”

2.B.1 The Client shall choose apassword that shall be atleast 8 characters long (or asotherwise specified by ICICISecurities and shall at alltimes keep the Client-identification and passwordconfidential.

2.B.2 At such time and withinsuch period as ICICISecurities may require, theClient shall obtain andmaintain during the term ofthis Letter, digital signatu-res, which would aid and

assist the Parties and theClient to authenticate all orany electronic transactionsmade through the Website.The Client shall beresponsible for keeping theClient id and password and/or digital signatureconfidential and secure andshall be solely responsiblefor transactions that areviewed using the passwordand/or digital signaturewhether or not such personwas authorised to do so.

2.B.3 In the event of anapprehension of unautho-rized access, the Client shallimmediately cause thepassword and/or digitalsignature to be changed.The Client shall at no timeallow any unauthorizedperson access to his ClientAccount and shall ensurethat he logs off every timethat he is not using theservice.

2.B.4 The Client shall forthwithintimate ICICI Securities ofany unauthorized usage ofthe same with full details ofthe date, the manner, theafter the unau-thorized use.

2.B.5 The Client may downloadthe obligatory documentsadded by ICICI Securities atits discretion, promptly onintimation of a notice of itsdisplay by ICICI Securities.

2.B.6 The Client acknowledges,

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represents and warrantsthat he has received/shallreceive such passwords ordigital signatures, as thecase may be, whichprovides access to the ClientAccount and that the Clientis the sole and exclusiveowner and shall be used byhim of such passwords ordigital signatures, as thecase may be, and acceptsole responsibility for use,confidentiality and prote-ction of the password ordigital signature, as the casemay be.

2.B.7 The Client is aware that thetransaction statements,which would be provided tothe Client through Websiteor otherwise (as may beintimated to the Client), maybe accessed by otherentities in case the confiden-tiality / secrecy of thepassword is compromisedby the Client. Further, theclient agrees that if hechooses to become a directclient of ICICI SecuritiesLimited or in the event ofdisassociation with theregistered interm-ediarydue to whatsoever reason,the aforesaid clausesspecific to facility ofproviding a separate user idand password to view thetransactions to “off lineclients” would automaticallybecome a mandatory feat-ure of the online broking

account. The followingclauses from 2.B. 8 to 2.B.10 specific to online tradingwould also become opera-tional.

2.B. 8 ICICI Securities/ ICICI Bankshall cause to be displayedon the Website, the Termsand Conditions governingthe purchase, sale or anyother transaction in each ofthe Investment Products asand when they areintroduced or at any timeamend this Letter of confir-mation, by modifying orrescinding any of theexisting provisions orconditions or by adding anynew provision or condition.Provided that ICICI Secur-ities shall be entitled tomodify/alter the said Termsand Conditions of suchInvestment Product (exclu-ding products which aredealt on Stock Exchanges)and such a change shall bedisplayed on the Website soas to intimate suchmodification/alteration tothe Client. The continueduse of the Website by theClient shall be deemed to bean acceptance by the Clientof the modified/alteredTerms and Conditions ofsuch Investment Product(excluding products whichare dealt on Stock Exch-anges). For products whichare dealt on StockExchanges, ICICI Securities

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shall follow the process asper the applicable rules andregulations of the conc-erned Stock Exchanges forchanges in terms andconditions.

2.B.9 The Client acknowledgesthat he is fully aware of therisks involved in onlinetrading activities, includingthe risk involved due tounauthorize-daccess or anytechnical difficulties. Theclient would place alltransaction instructions inhis online trading accountusing his User Id and pass-word. ICICI Securities shallact as the Client’s agent tocomplete all transactionsauthenticated by thepassword assigned to theClient, or by such means asICICI Securities may requirefrom time to time, includingaffixing of digital signatures.ICICI Securities has noobligations to verify theauthenticity of any trans-action instruction sent orpurported to have beensent from the Client otherthan by means of verifi-cation of the Client’spassword.

2.B.10 An order or applicationshall be deemed to havebeen executed or cancelledonly after such status isupdated by ICICI Securitieson its website.

3. ICICI Securities may, fromtime to time, and at its soleand absolute discretion,offer to facilitate to theClients, through the Websiteand other media, the facilityof applying for loans andoverdrafts and other creditfacilities (hereinafter the“Credit Facility ”) fromvarious Banks or financialinstitutions or any financecompanies(hereinafter refe-rred to as “the Finan-cier”)for the purpose of investingin initial public offer / publicoffer of the shares ofvarious entities/securities(hereinafter referre-d to as“purpose”), in compliancewith the applicable laws.The Client acknowledgesand agrees that ICICISecurities is only facilitatingthe Client in applying forvarious Credit Facility andgrant/sanction of the CreditFacility and the terms andconditions thereof shall beat the sole discretion of theFinancier, ICICI Securitiesshall have no liability and/orresponsibility whatso-everin connection with theCredit Facility. The Financiershall have the sole discre-tion to accept or reject theapplication for CreditFacility made by the Client.This facility shall not beconstrued as a guarantee /undertaking by ICICI Secur-ities to make available the

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Credit Facility from anyFinancier in favour of theClient. Nothing containedherein or on the Websiteshall constitute or deemedto constitute an advice, anoffer to purchase shares, orsponsorship to subscribe tothe shares or an invitation,recommendation or solici-tation to avail of any CreditFacility from any Financier.ICICI Securities may at anytime, without giving anynotice to the Clientterminate or suspend orwithdraw this service orfacility.

4. The Client shall ensure thatthe transactions throughICICI Securities are exec-uted in accordance with theapplicable laws, byelaws,rules and regulationsgoverning the specificInvestment Product. ICICISecurities may, from time totime, impose and vary limitson the orders which theClient may place, includingexposure limits, turnoverlimits, limits as to numbersetc. The Client agrees thatICICI Securities shall not beresponsible for anyvariation or reduction thatmay be deemed necessaryby ICICI Securities based onits risk perception and otherrelevant factors.

B. REPRESENTATIONS ANDWARRANTIES BY THECLIENT

1. The Client affirms, and shallcontinue to affirm everytime an order is placedthrough ICICI SECURITIESor an application preferred,as the case may be, that allinformation provided andthe statements made in theClient Account OpeningForm are true and are notmisleading (whether byreason of an omission tostate a particular fact orotherwise as at the time ofcompleting the ClientAccount Opening Form orany time thereafter). TheClient agrees that ICICISecurities has agreed toprovide to the Client,various services based onrepresentation contained inAccount opening form andthis Letter of Confirmation(“The Letter”).

2. The Client has the requiredlegal capacity to executethis Letter and is capable ofperforming his obligationsand undertakings hereu-nder.

3. The Client shall, at all times,be responsible for theClient’s investment decis-ions and/or orders placed,or applications preferred bythe Client, either electro-nically or otherwise. TheClient shall not hold, norseek to hold, ICICI Securitiesand/or any of its officers,directors, employees, agen-

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ts, subs-idiaries or affiliates,liable for any loss includingbut not limited to tradinglosses incurred by the Clie-nt. The Client understandsthat placing an order withICICI Securities, eitherelectronically or otherwise,does not guarantee exec-ution of the said order oracceptance of an applica-tion. ICICI Securities shallnot be deemed to havereceived any electronicallytransmitted order or appli-cation until ICICI Securitieshas confirmed the receipt ofsuch an order or appli-cation.

4. The Client agrees that ICICISecurities shall act as theClient’s agent to completeall transactions authenti-cated by the passwordassigned to the Client, or bysuch means as ICICI -Securities may require fromtime to time, includingaffixing of digital signatures.ICICI Securities is herebyexpressly authorized tomake advances and expendmonies as may be requiredfor carrying out suchtransaction. The Client shall,at all times, be liable to payICICI Securities, the broker-age, commission, GST andother taxes and transactionexpenses as applicable/notified by ICICI Securitieson the Website or by emailfrom time to time. Certain

orders or appli-cations, atICICI Securities solediscretion, may be subjectto manual review, therebydelaying the processing ofthe Client’s order orapplication. The Client shallreceive the price at whichthe Client’s order orapplication is actuallyexecuted in the Exchangesor otherwise, as the casemay be, which in the eventof a delay may be differentfrom the price at which theClient’s order or applicationwas placed.

5. The Client agrees that anyrequest for cancellation/modification of an order oran application shall besubject to the order orapplication not having beenacted upon or already beingexecuted or it being outsidethe control of ICICI Securit-ies to make any cancellationor modification to suchorder or application. Anorder or application shall bedeemed to have beenexecuted or canceled onlyafter the Client has receiveda statement from ICICISecurities intimating him ofthe status of his order.

6. The Client hereby agreesthat ICICI Securities or theExchanges shall not beliable for the nonexecutionof any order caused due toany suspension, interrup-

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tion, non-availability ormalfunctioning of the onlinetrading service or theExchange system or serviceor for any reasons whats-oever.

7. The Client agrees to andundertakes to deposit withICICI Securities such cash,securities or other accep-table securities as may berequired as a margin, inaddition to the permanentmargin, which may behigher than the margin asprescribed by theExchange. The Clienthereby undertakes thatwhen called upon to do so,provide ICICI Securities amargin deposit and /oradditional margin money asrequired in respect ofbusiness done for the Clientby ICICI Securities.

8. The Client agrees that ICICISecurities and ICICI Bankmay enforce any of therights, duties and obliga-tions arising under thisLetter or any related docu-ment including the Power ofAttorney either jointly orindependently, and nothingin this Letter shall beconstrued in a manner so asto restrict the right of ICICISecurities and ICICI Bank toinitiate any action jointly.

9. The Client shall choose apassword that shall be at

least 8 characters long (or asotherwise specified by ICICISecurities) and shall at alltimes keep the Client-identification and passwordconfidential. Further, at suchtime and within such periodas ICICI Securities mayrequire, the Client shallobtain and maintain duringthe term of this Letter, digitalsignatures, which would aidand assist the Parties andthe Client to authenticate allor any electronic transa-ctions made through theWebsite. The Client shall beresponsible for keeping theClient id and password and/or digital signature confid-ential and secure and shallbe solely responsible for allorders and transaction thatare entered and executedusing the password and/ordigital signature whether ornot such person wasauthorised to do so. In theevent of an apprehension ofunauthorized access, theClient shall immediatelycause the password and/ordigital signature to bechanged. The Client shall atno time allow any unaut-horized person access to hisClient Account and shallensure that he logs off everytime that he is not using theservice. The Client shallforthwith intimate ICICISecurities of any unauth-orized usage of the same

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with full details of the date,the manner, the transactionsexecuted after theunauthorized use.

10. The Client agrees that incase the Client has appliedfor shares in an Initial PublicOffer / Public Offer throughICICI Securities, the Clientshall not, without priorintimation and acknowl-edgment of ICICI Securities,liaise with the Registrar forthe Initial Public Offer /Public Offer to change thedetails of the DematAccount, Bank account andthe Address on theApplication Form providedto the Registrar by ICICISecurities. The Clientfurther authorises ICICISecurities to give standinginstructions to the Registrarto reject such requests fromthe Client. In event of anychange in the details of theDemat Account, BankAccount, Address of theClient, etc., the Client shallfirst update such changeswith ICICI Securities whoshall liaise with the Regis-trar to update such changesand accordingly the refun-ds/allotments on theApplication shall be made.The Client agrees that ICICISecurities is hereby autho-rised to give instructions tothe Depository Participant ofthe Client to reject anyrequest received from the

Client for changing the BankAccount details or updatingany change relating to theDemat Account. The Clientfurther agrees that theClient shall not close theDemat Account / BankAccount without priornotification to ICICI Secu-rities where an Applicationfor Initial Public Offer /Public Offer has been madeon behalf of the Clientthrough ICICI Securities andthe Client agrees that ICICISecurities may instruct theDepository Participant /Bank of the Client to rejectany such request receivedfrom the Client. In case anapplication is made forInitial Public Offer / PublicOffer through ICICI Secu-rities, the Client authorizesICICI Securities to collect onClient’s behalf, the refundamount, if any, from theCompany/ Registrar andsubsequently credit thesame to Client’s BankAccount after set-off /adjustment of dues payableby the Client on account ofobligations incurred inconn-ection with the appli-cation.The Client furtheragrees that ICICI Securitiesshall not be held respo-nsible for non allotment ofsecurities either fully orpartly to the Client, for anyreason whatsoever. ICICISecurities shall not be held

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responsible in case due tosome reason the bid/application/revision ins-truction sent by the Client isnot received by it, or if thebid/application/revisioncould not be uploaded tothe Stock Exchange, orcould not be sent to theBanker / Registrar to theissue. ICICI Securities shallnot be held responsible fornon-receipt or delay in/incorrect receipt of refund,ifany, from the Registrar/Company. ICICI Secu-ritiesshall not be held respon-sible for incorrect Taxdeduction at Source (TDS)by the Registrar/Company,if appli-cable, or fornonreceipt or delay in/incorrect receipt of TDScertificate, if any, from theRegistrar/Company. TheClient agrees that theaforesaid Power of Attorneyexecuted by the Client infavour of ICICI Securitiesand the instructions provi-ded by the client shall betreated as extending tomaking of the applicationfor Initial Public Offer /Public Offer on behalf of theClient, and further that ICICISecurities may furnishcertified copy of the Powerof Attorney and otherdocuments on behalf of theclient to the Company/Registrar/any third party.

11. The terms and conditionspertaining to the ICICI-direct.com Account, BankAccount & Demat Accountwhich is in force now, havebeen read by me/us.

12. I/We have understood thesame and I/we agree toabide by and to be bound bythe rules as are in force fromtime to time for suchaccounts.

13. I/We also declare that theparticulars given by me/usare true to the best of my/our knowledge as on thedate of making suchapplication. I/We furtheragree that any false/misleading informationgiven by me or suppressionof any material fact willrender my/our accountliable for termination andfurther action.

14. I/We agree to pay thecharges as per the Scheduleof Charges attached to theForm and any revisionthereof from time to timeand understand that my/ouropening of the ICICI-direct.com Account issubject to the payment ofthese charges.

15. I/We wish to link allaccounts under the WebBanking Account with ICICIBank. I/We confirm that Firstholder is the sole signatoryor authorised to act alonewhere the accounts are in

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the joint names.16. I/We hereby authorize ICICI

Securities to debit all theDemat Account relatedcharges to my/our ICICIBank Account linked toICICI-direct.com Account orledger maintained by ICICISecurities in case I / We haveopted for running accountauthorization.

17. I/We authorise ICICI Bankto receive creditsautomatically into my/ourBank and Demat Account(s)or credit ledger in case I/ Wehave opted for runningaccount authorization.

18. I/We agree and confirm thatI/we have read the terms andconditions of the accountfacility, and the terms andconditions pertaining tousage of channels for accessof the said account facilityas put up on www.icicibankand am/are aware of and willadhere to all the terms/conditions of opening/maintaining of the saidaccount and usage of thechannels with / by ICICI BankLtd as may be in force fromtime to time. I/We furtherdeclare that I/ We have readand are/ am aware of andwill adhere to the rules ofthe Depository in relation tomaintenance and operationof the account.

19. I/We understand that certainparticulars given by me/us

are required by theoperational guidelinesgoverning banking comp-anies. I/We further declareand confirm that the creditfacilities, if any, enjoyed byme/us with other banks hasbeen disclosed hereinabove.

20. I/We declare, confirm,agree:

a. That all the particulars andinformation given in theApplication form are true,correct, complete and uptodate in all respects and I/ Wehave not withheld anyinformation.

b. That I/We confirm that I/We have had no insolvencyinitiated against me/us norhave I/ We ever beenadjudicated insolvent.

c. That I/We have never beenprohibited to transact in theSecurities Market by SEBI/NSE/ BSE or any RegulatoryBody and that I/We have notbeen declared as suspen-ded/expelled/ defau-ltertrading members; default-ing constituents and empl-oyees of other tradingmembers by SEBI/NSE/BSEor any other regula-toryBody.

d.That I/We have read theapplic-ation form andbrochures and am/are

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aware of all the terms andconditions of availing thesaid services from ICICI Bankand its Group Companiesand ICICI Securities.

e. That ICICI Securities, ICICIBank and its Group Compa-nies reserve the right toreject any applicationwithout providing anyreason.

f. I/We declare and confirmthat I/we are not anauthorized representative oremployee of another tradingmember. I/We undertakethat we shall not executetrades through ICICI Secu-rities on NSE or BSE if I/webecome an employee ofanother trading memberunless I/we provide a writtenconsent of such employingtrading member to ICICISecurities.

g. I/We declare and confirmthat I/We are not member(s)of the National StockExchange of India Ltd. orBombay Stock ExchangeLtd. I/We undertake that weshall not execute tradesthrough ICICI Securities onNSE or BSE if I/we becomemember of the respectivestock exchange(s).

h. I/we hereby agree that this

Declaration may becanceled or revoked by me/us only upon furnishing anadvance written notice of 30(thirty) days to ICICI Secur-ities and ICICI Bank Ltd. andby obtaining proper writtenacknowledgment for thereceipt of the notice fromICICI Securities Ltd and ICICIBank Ltd. I/we furtherunderstand that uponreceipt of such notice, ICICISecurities Ltd and ICICI BankLtd. may at any time termin-ate or suspend my/ouraccount/accounts or anyother services provided tome/us with or without anyfurther notice. Such noticeor termination or suspen-sion of account(s)/ servicesshall not have any effect onthe transactions executed byor on my/our behalf beforethe date of such notice oreffective date of terminationor suspension of account(s)services, whichever is later.

i. I/We are required to complywith the Mutual Fund -Know Your Client (KYC)norms mandated by SEBI. I/We understand that in caseI/we do not comply with thementioned norms, transac-tions in Mutual Fund will notbe permitted.

j. I/We agree that in the caseof Joint Account both the

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Applicant and JointApplicant are singly andjointly liable for overdraft ifany, even if the Applicationcum demand PromissoryNote is signed by theApplicant alone.

k. I/We nominate the person(details provided) to whomin the event of my / our /minor’s death the amountof deposit in the bankaccount, particulars where-of are given, may bereturned by ICICI Bank,branch. OR appoint theGuardian (detals provided)as the nominee is a minor toreceive the amount onbehalf of the nominee in theevent of my/our/minor ’sdeath during the minority ofthe nominee. This nomin-ation shall apply to all typesof deposits, accounts madeunder this Customer ID(which will be thedistinguishing number ofthis Nomination) from timeto time including renewalsthereof.

21. I/We agree, undertake andauthorize:

a. ICICI Securities, ICICI Bankand its Group Companies ortheir agents to makereferences and enquiriesrelative to information in thisapplication which ICICISecurities, ICICI Bank and itsGroup Companies or their

agents consider necessary.b. To inform ICICI Securities,

ICICI Bank and its GroupCompanies regardingchange in my/our reside-nce/ employment and toprovide any further infor-mation that ICICI Securities,ICICI Bank and its GroupCompanies may requirefrom time to time. I/Wehereby authorise ICICISecurities, ICICI Bank and itsgroup companies to updateany change/alteration in my/our communication addre-ss/resid-ence address/empl-oyment details that ICICISecurities, ICICI Bank and itsgroup companies may beinformed of by me and/or isbrought to the notice ofICICI Securities, ICICI Bankand its group companiesand hereby authorise ICICISecurities, ICICI Bank and itsgroup companies to contactme/us on such changed/altered address. I/We shallbe solely responsible toensure that ICICI Securities,ICICI Bank and its groupcompanies has beeninformed of the correctaddress for communicatio-n/residence address emplo-yment details. I/We agree toindemnify ICICI Securities,ICICI Bank and its groupcompanies against anyfraud or any loss or damagesuffered by ICICI Securities,ICICI Bank and its group

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companies due to my/ourproviding of any incorrectcommunication address/residence address/emplo-yment details and/or failureon my/our part to comm-unicate the change/alter-ation in my/our commu-nication address/residenceaddress/employ-ment detai-ls.

c. I/We agree and herebyauthorise ICICI SecuritiesLtd/ICICI Bank Ltd/its GroupCompanies and their agentsto exchange, share or partwith all the information,data or documents relatingto my/our application andtransaction information toother ICICI GroupCompanies / Banks /Financial lnstitutions /Credit Bureaus / Agencies /Asset ManagementCompanies / KYCRegistration Agencies(KRA) / Registrar andTransfer Agents / InsuranceCompanies / Companiesaccepting deposits or anyother securities / issuers ofsecurities / investmentproducts, service providersand Statutory Bodies as ICICISecurities Ltd/ICICI BankLtd/its Group Companiesmay deem appropriatewhich may be required foruse or processing of the saidapplication/ transaction byabove mentioned entities orfurnishing of the processed

information/data/ productsthereof to other Banks/Financial Institutions/creditproviders/agencies/usersregistered with suchpersons. I/we shall not holdICICI Securities Ltd /ICICIBank Ltd/ its Groupcompanies liable for thedisclosure or use of suchinformation. I/We agree andhereby authorise ICICISecurities Ltd to exchange,share or part with all theinformation relating to my /our transactions throughICICI direct account to otherICICI Group Companies orany intermediary registered/ associated with ICICIsecurities for the purpose ofreferring / sourcing /processing / executing /preparing reports of my /our transactions as ICICISecurities Ltd may deemappropriate. I/ We furtherauthorize I/we shall not holdICICI Securities Ltd liable forthe disclosure or use of suchinformation.

d. I/We agree to undertake andauthorise ICICI Bank to issuea consolidated certificate forTax Deducted at Source, ifappli-cable, on interest paidor credit during the financialyear in accordance withprevailing Income Tax Lawsunless otherwise requestedby me/us through priorintimation. I/We agree andconfirm that tax will be

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deducted at source as perprevailing income tax lawssubject to a certificate fromIndian tax authorities for nil/ concessional rate of taxdeduction. I also unders-tand and agree that taximplications includingdocumentation requirementare subject to change fromtime to time.”

22. I/We agree that I shall besolely responsible to makeavailable funds / securitiesfor transactions executed inmy ICICIdirect.com tradingaccount. I/We understandthat in case if the ICICI BankAccount and / or ICICI BankDemat account linked to myour trading account isfreezed or dormant or nonoperational due to anyreason whatsoever thenICICI Securities Ltd shallsquare off my openpositions in Equity,Derivatives and othersegments in myICICIdirect.com tradingaccount though sufficientmargin may be available. I/We shall continue to beresponsible to makeavailable funds / securitiestowards my/our payin /margin obligations. Theinability of ICICI Securitiesto debit the same from my/our linked Bank or ledger incase I / We have optedrunning accountauthorization is opted /

Demat accounts does notabsolve me/us from suchliability or change in anyway rights, liabilities andobligations arising out of orin respect of transactionsentered thereto.

23. I/We agree that though allendeavor is made by ICICISecurities to provide maxi-mum possible details pertai-ning to my transactions,certain details like allocationof funds / securities, tradinglimits, open positions in thederivatives market and thelike can be made availableonly for the current tradingsettlement. I further agreeand understand that ICICISecurities cannot makeavailable historical details ofsuch data taking into consid-eration the technical feasib-ility, usage etc of the same.I agree that records ofhistorical details of suchdata as maintained /extracted / archived by ICICISecurities Limited. would beacceptable to me asauthentic and final.

24. I/We agree that certaindetails as provided in my/our trading account wouldnot be on a real time basis.I/ we agree and accept thatsuch details would beupdated by ICICI SecuritiesLtd on best effort basiswithin reasonable time. I/weshall not hold ICICI Secu-rities responsible for any

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possible mismatches in thereal time data and data asreflecting on the site duringthe period the updations arenot effected.

25. I/We authorise ICICI BankLtd. to issue an ICICI BankDebit cum ATM Card to me/us. I/We acknowledge thatthe issue and usage of theCard is governed by theterms and conditions as inforce from time to time andagree to be bound by thesame. I/We acknowledgethat it is my/our respo-nsibility to obtain a copy ofand read the same. I/Weaccept that the terms andconditions are liable to beamended by ICICI Bank Ltd.from time to time.

26. I/We further unconditionallyand irrevocably authoriseICICI Bank Ltd. to debit my/our Bank Account annuallywith an amount equivalentto the fee and charges foruse of the Debit cum ATMCard.

27. I/We hereby confirm thisBank account will be oper-ated singly and in case ofjoint account operated byeither or survivor.

28. I/We confirm that the Bankaccount to be opened withICICIdirect.com Account beused for the purpose of allcash corporate actions.

29. I/We wish to apply for all theMobile Banking Alerts as are

displayed on the websitewww.icicibank.com for theBank Account to be opened/linked.

30. I/We, the Jointholder/s,hereby authorize the Firstholder, to access the Inter-net Banking, Phone Bankingand Mobile Banking chan-nels as provided for viewingof and transaction from theAccount and the First holderconfirms the said appoi-ntment. I/We, the Jointh-older/s, hereby state thatshould I/we, Joint-holder/s,wish to revoke the aboveauthorisation, I/we, Jointh-older/s, shall duly issue aletter of revocation (" therevocation letter") to ICICIBank in this regard. I/Wehereby agree that until tendays after receipt of suchrevocation letter, the auth-orisation as aforestatedshall hold good.

31. I/We affirm, confirm andundertake that I/we haveread and understood theTerms and Conditions forusage of the Mobile Bankingservice of ICICI Bank Limitedand I/we aware of ChargesApplicable as set forth inwww.icicibank.com, andthat I/we agree on my/ourown behalf, or as themandate holder on behalfof the joint account holders,and will adhere to all theterms/conditions of open-ing/ applying/ availing/

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maintaining/ operating (asapplicable) for usage ofMobile Banking service ofICICI Bank Limited as may bein force from time to time.I/we further authorize ICICIBank Limited to debit myAccount(s) towards anyCharges for Mobile BankingService.

32. The rules & regulations ofthe Depository and Depos-itory Participants pertainingto an account which are inforce now have been readby me/us and I/We haveunderstood the same and I/We agree to abide by and tobe bound by the rules as arein force from time to time forsuch accounts. I/We alsodeclare that the particularsgiven by me/us are true tothe best of my/ourknowledge as on the date ofmaking such applications. I/We further agree that myfalse/misleading inform-ation given by me orsuppression of any materialfact will render my accountliable for termination andfurther action.

33. I/We agree and understandthat ICICI Bank Ltd/its GroupCompanies reserve the rightto retain the applicationforms, and the documentsprovided therewith, inclu-ding photo-graphs, and willnot return the same to me/us.

34. I/We agree and understandthat I/We have to completefurther applications forspecific liability products/services from ICICI BankLtd/its Group Companies,as prescribed from time totime, and that such furtherapplica-tions shall beregarded as an integral partof this application (andvice versa), and that unlessotherwise disclosed insuch further forms asprescribed, the particularsand information set forthherein as well as thedocuments referred orprovided herewith are true,correct, complete and up-to-date in all respects. I/Weagree and understand thatsuch further applicationswill require incorporationof the application formnumber, and/or suchdetails as ICICI Bank mayprescribe, to facilitate datamanagement.

35. I/We understand ICICISecurities Limited doesclientele business and hasdecided to do and deals inproprietary trading too. Thedisclosure is given pursuantto the requirement as perclause 2.3 of the SEBICircular No. SEBI/MRD/SE/Cir-42/2003 dated 19thNovember, 2003.

36. I hereby declare that I have,read and understood theterms and conditions

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governing the ICICIdire-ct.com a/c and ICICI Bank a/c at https://secur-e.icicid-irect.com/resident/tnc.htm

37. I agree that a Studentaccount or a SavingAccount having quantumoptimum facility or aCurrent A/C cannot belinked.

38. I/we have no objection toICICI Securities Limited, itsgroup companies, agents /represe-ntatives to provideme/us information onvarious products, offers andservices provided by ICICISecurities Limited / itsgroup companies throughany mode (includingwithout limitation throughtelephone calls / SMSs /emails) and authorise ICICISecurities Limited, its groupcompanies, agents /representatives for theabove purpose.

39. The client agrees that incase his account is mappedto advisor / dealer, then theclient authorises suchadvisor / dealer to call evenif client's number isregistered in NationalConsumer PreferenceRegister / Do No Calldatabase.

40. This is with reference to thePower of Attorney (POA) tobe executed by me/usfavouring ICICI SecuritiesLimited (“I-Sec”) for

opening 3-in-1 onlinetrading account. I/Wehereby authorise I-Sec tomention the POAverification date as theexecution date on the POA,once the POA is verified byI-Sec as part of its formscrutiny process.

C. CLAUSES SPECIFIC TOOPENING OF BANKACCOUNT WITH ICICIBANK

1. The Client shall be entitledto operate his Bank Account(referred to as “WebBanking Account/Service”or “Bank Account”) thoughthe use of Web Bankingservice offered by ICICIBank, which may bewithdrawn at any time at thesole discretion of ICICI Bank.

2. ICICI Bank shall endeavor toprovide the Client throughWeb Banking, services suchas balance enquiry for hisBank Account, transactiondetails, statement of BankAccount, cheque-bookrequest, request for transferof funds between accountsof the same Client and suchother facilities as ICICI Bankmay decide to provide fromtime to time.These facilities shall beoffered in a phased mannerat the discretion of ICICIBank. ICICI Bank may alsomake additions/deletions tothe services offered through

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Web Banking at its solediscretion. The availability/non availability of aparticular service shall beintimated to the Clientsthough e-mails and/or webpage of ICICI Bank or maybe displayed on theWebsite.

3. ICICI Bank shall takereasonable care to ensuresecurity of and preventunauthorised access to theWeb Banking Services,using technology,reasonably available to it.

4. ICICI Bank shall allot to theClient the Client Identifi-cation and secret passw-ords or require the usage ofdigital signatures whileopening his Bank Account.The Client will be requiredto change the passwordsassigned by ICICI Bank onaccessing Web Banking forthe first time. ICICI Bank willnot be liable in any casewherein the Client has notchanged the passwordsafter he has first been issuedto them. As a safetymeasure the Client shallchange the passwords asfrequently thereafter aspossible.

5. The Client shall at all timescomply with such directi-ons/instructions as may beissued by ICICI Bank,including but not limited tothe maintenance of a

minimum balance in theBank Account, payment ofservice charges, etc. ICICIBank may, in its solediscretion, levy penalcharges for non-mainte-nance of the minimumbalance as stipulated fromtime to time. Any change inthe fees shall be notified onICICI Bank’s website. TheClient authorizes ICICI Bankto recover all chargesrelated to Web Banking asdetermined by ICICI Bankfrom time to time bydebiting the Client’s BankAccount.

6. All transaction to beexecuted through the WebBanking Service shall besubject to the availability ofsufficient funds in the BankAccount of the Client andICICI Bank shall not be liablefor any omission to make allor any of the payment or forlate payment due tocircumstances beyond thereasonable control of ICICIBank.

7. The Client shall beresponsible for the accuracyof information supplied toICICI Bank through the useof Web Banking or throughany other means such aselectronic mail or writtencommunication. ICICI Bankaccepts no liability for theconsequences arising outof erroneous informationsupplied by the Client. If the

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Client suspects that there isan error in the informationsupplied to ICICI Bank byhim or notices an error inthe information supplied tohim through Web Bankingthen he shall intimate ICICIBank as soon as possibleand ICICI Bank shallendeavor to correct thesame, wherever possible,on a ‘best efforts’ basis.

8. The Client shall be liable forany loss caused to ICICI Bankdue to any unauthorisedtransactions in the WebBanking Account if theClient has breached any ofthe terms of usage of WebBanking or contributed orcaused the loss in anymanner. Provided thatnothing contained hereinshall be construed in such amanner so as to hold theClient liable for anyunauthorised transactionsoccurring through thefraudulent or negligentconduct of employees ofICICI Bank.

9. ICICI Bank shall under nocircumstances be held liableby the Client in case of WebBanking access not beingavailable in the desiredmanner for reasonsincluding but not limited tonatural calamity, floods, fireand other natural disasters,legal restraints, faults in thetelecommunication netw-ork or Internet or network

failure, software or hardw-are error or any otherreason beyond its control.Under no circums-tancesshall ICICI Bank be liable forany damages whatsoeverwhether such damages aredirect, indirect, incidental,consequential andirrespective of whether anyclaim is based on the loss ofrevenue, investment,production, goodwill, profit,interruption of business orany other loss of anycharacter or naturewhatsoever and whethersustained by the Client orany other person.

10. The Client agrees that theBank or its representatives/contr-actors may hold andprocess Informationpertaining to the Client oncomputer or otherwise inconnection with WebBanking service as well asfor statistical analysis andcredit scoring. The Clientalso agrees that ICICI Bankmay disclose, in strictconfid-ence, to otherinstitutions, such ClientInformation as may bereasonably necessary forreasons inclusive of, but notlimited to, the following:

(a)For participation in anytelec-ommunication orelectronic clearing network;

(b)In compliance with alegal directive;

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(c)For credit rating by rec-ognised credit scoringagencies; and/or

(d)For fraud preventionpurposes.

11. ICICI Bank shall have theright of set-off, irrespectiveof any other lien or charge,present as well as future, onthe deposits held in theClient’s Bank account(s) andother deposits, whatsoever,to the extent of alloutstanding dues to ICICIBank, howsoever, arising.

12. The Client acknowledgesthat the software underlyingthe Web Banking Service aswell as other Internetrelated software which arerequired for acc-essing WebBanking are the legalproperty of the respectivevendors and the Client shallnot attempt to modify,translate, disassemble,decompile or reverse engin-eer the software underlyingthe service. The permissiongiven by ICICI Bank toaccess Web Banking shallnot convey any proprietaryor ownership rights in theabove software.

13. The Client expresslyauthorizes ICICI Bank toblock the amount requiredto settle the obligations ofthe Client against thedesired limits and in case of

the execution of the order,either in part or in full debitthe Client’s Bank Account tothe extent necessary tosettle the obligations andcredit ICICI SECURITIESAccount. The Client agreesthat Client shall not bepermitted to withdraw,issue a cheque or otherwiseuse the blocked and/orallocated funds in his BankAccount. ICICI Bank reserv-es all its right to dishonourtheir instruction/chequethat may be issued againstthe blocked amount. TheClient also understands &agrees that blocking offunds against their order willbe given priority over allother instructions orcheques given by either theClient or his authorizedrepresentative.

14. The Client agrees that ICICIBank may prescribe certainadditional terms andconditions for the purposeof offering Web Bankingservice and that the Clientcan utilise such service onlyafter he agrees to abide byall such terms andconditions.

15. I understand that Passbookfacility is available forSavings Bank account freeof charge and can berequested at any ICICI BankBranch.

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16. Further for Salary Account

(a) I have also read andunderstood "Terms andConditions" under whichsalary account is offerred tomy organisation and itsemployees as set forth onthe websitewww.icicibank.com

(b) I (Primary A/c holder) agreethat my employer has fullright to reverse aninstruction given by them tocredit my/our account forany amount and I and/or thejoint account holders, willnot dispute or hold the bankresponsible for any suchdebits in my/our account.For this purpose the entity/organization from whomthe last salary credit hasbeen received shal l bec o n s i d e r e d a s t h eemployer.

(c) I understand that it is myresponsibility to informICICI Bank immediately ontermination of myemployment with myemployer. The benefitsapplicable to the Salarystand to be modified in caseof any change inemployment status. Thejoint A/c holders agree tothese terms and will notdispute the same due tochange in employer statusof the Primary A/c holder. Iundertake to immediately

inform ICICI Bank vis a visany change of employmentstatus and authorize ICICIBank to change my/ouremployer details based onsuch information beingreceived from me or myemployer/s or otherwise.

(d) If no salary credits are madein the account, ICICI Bankreserves the right to change/ close the status of thesalary account to ICICI Banksavings account withoutany intimation to theaccountholder and theterms and conditions asapplicable to ICICI BankSavings account shall applyto this account from thedate of change of status.

17 I have received a copy of thetariff guide / schedule ofcharges. I have read andunderstood the contents ofthe brief schedule ofcharges provided in Tariffguide and detailed scheduleof charges as set forth onthe websitewww.icicibank.com andagree to abide by the same,subject to changes fromtime to time.

D. CLAUSES SPECIFIC TOOPENING OFD E M A T E R I A L I S E DSECURITIES ACCOUNT(“DP ACCOUNT”) WITHICICI BANK LTD.

I/We refer to my/ourapplication for opening of a

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dematerialised securitiesaccount (“DP account”)with ICICI Bank Limited(hereinafter called “ICICIBank”)

I/ We hereby agree andconfirm that:

1. ICICI Bank as DepositoryParticipant (DP) will not beliable to us for any actiontaken or authorised to betaken under the Rights &Obligations of BeneficialOwner and DepositoryParticipant prescribed bySEBI & Depositories for anyclaim, loss, damages orexpenses arising inconnection with any suchaction or omission except inso far as the same resultsfrom bad faith, willfuldefault or negligence on thepart of ICICI Bank.

2. ICICI Bank as DP will not beliable or responsible for theloss or damages arising onaccount of any naturalcalamities or on account ofmalicious damages causedon account of any strike,civil commotion, riots, war,war like events orcircumstances beyond thecontrol of ICICI Bank.

3. ICICI Bank as DP, will not beresponsible for the title,validity or genuineness ofany securities which havebeen dematerialised andnotified subsequently by the

Registrars of any defects inits title/validity which hasresulted in a reduction of thedematerialised holdings ofthe client and theconsequences thereon.

4. I/We hereby agree to holdICICI Bank harmless againstall actions, proceedings,claims and demands, costand expenses incidentalthereto which may bebrought against, suffered orincurred by ICICI Bank asDepository Participant byreason of all acts done by itpursuant to the provisionsof the Rights & Obligationsof Beneficial Owner andDepository Participantprescribed by SEBI &Depositories including anyaction or omissionundertaken in compliancewith any instructionsreceived by ICICI Bankwhich ICICI Bank believes ingood faith to have beengiven by me/us and makegood the losses incurred byICICI Bank on all legal,professional and otherexpenses incurred by ICICIBank.

5. I/We undertake to send ICICIBank instructions relating tothe transfer of securitieslatest by 4 p.m. on businessday (excluding Saturday,Sunday and bank holidays)prior to the execution dateindicated by me/us in thedebit instruction. We note

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that the instructionsreceived by ICICI Bank afterthis, will be carried out andupdated only on “BestEffort” basis. ICICI Bank isnot liable for any losses andarising out of TIFDsaccepted on the “BestEffort” basis.

6. ICICI Bank will not beresponsible for any failureas a result of non receipt orreceipt of incomplete/erroneous instructionsthough received within thestipulated time.

7. All instructions will besigned by me/us or by anauthorised person on my/our behalf whose signaturehas been lodged with ICICIBank along with relevantdocuments as required byICICI Bank. I/We shall informICICI Bank about thechanges in the list ofauthorised persons andtheir specimen signaturesfrom time to time.

8. I/We am/are agreeable topay the fees for the servicesrendered by ICICI Bank asper Section G / tariff sheetsigned by me. . I/We herebyauthorise and instruct ICICIBank to debit the bankaccount to be notified byme/us for the fees and othercharges and undertake toensure that adequatebalances are made availablein the bank account. I/We

further confirm that, thesecurities held in my/our DPaccount are subject to alien/right of set off in favourof ICICI Bank for the claimsof monies payable to ICICIBank

9. I/We hereby agree, confirmand understand that ICICIBank reserves the right torevise the terms andconditions or rules andprocedures pertaining tothe DP account and thatsuch revised terms andconditions shall then bebinding on me/us.

10. The particulars given anddeclarations made by me/us in the account openingform, other declarationsand in this letter are true ason the date hereof and anychanges will be informed toyou immediately. I/Wefurther confirm that ICICIBank is not liable andresponsible for anyincorrect information givento ICICI Bank nor for anyfalse declaration furnishedto ICICI Bank and theconsequential effectsthereon.

11. I/We have read andunderstood the rules andregulations pertaining tothe Depository andDepository Participants inconnection with openingand operating of DPaccounts.

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12. I/We authorise ICICI Bank toissue/re-issue a TIFD bookletthrough Post or Courier oras per your standardpractice. The Couriercharges will be debited inmy/our account.

13. (a) I/We hereby authoriseICICI Bank, to claim frommy/our bank accountmentioned under“Electronic Clearing Service(Debit Clearing) Mandate/Direct Debit Mandate andBank details for receivingdividend/interest”, thecharges in respect of theDemat Account.

I/We further confirm that :

i) I/We am/are agreeable toparticipate in ElectronicClearing Services (DebitClearing) of RBI and enclosethe Mandate Form.

ii) The relevant Bank has beenauthorised to debit my/ourdesignated bank accountwith charges relating to mydemat account with ICICIBank and remit theproceeds to ICICI Bank inthe manner adviced by ICICIBank from time to time.ICICI Bank may forward acopy of the authorisation tothe relevant Bank.

b) I/We hereby undertake notto revoke the standinginstruction given to myrelevant Bank with regard

to my designated bankaccount for the abovewithout the writtenapproval from ICICI Bank orafter complying with clause‘d’ below.

c) We will ensure thatsufficient balance will bemaintained in the said bankaccount for meeting thedues.

d) I/We will provide freshauthorisation/instructionfor claiming ICICI Bank duesfrom the new bank accountin the event of our closingthis designated bankaccount. I/ We will providefresh authorisation to ICICIBank at least one monthprior to our closing theaccount.

14. I/We have agreed to ICICIBank for accepting anyfacsimile (fax) instructions,I/We confirm that ICICI Bankas DP shall not be liable forany losses or damageswhich I/We may suffer as aconsequence of ICICI Bankas DP acting in accordancewith or in reliance upon, anyfax instructions. I/Wehereby agree that I/We shallindemnify the DP and keepICICI Bank as DPindemnified and savedharmless, at all timesagainst any claims, losses,damages, in connectionwith or arising out of or in

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relation to any faxsubmission.

15. I/We further confirm thatthe above confirmation arein addition to thoseconfirmation given by me/us in the account openingform by me/us for openingthe DP account.

16. I/We have been providedwith the Rights andObligations documentprescribed by SEBI andhereby confirm that I haveread, understood and agreeto abide by the terms of thesaid Rights and Obligationdocument and understandthat the Rights andObligations document islegally binding on me/us.

17. I/We understand that thisletter of confirmation issubject to the Governmentnotification, any rules,regulations, guidelines andcirculars/ notices issued bySEBI and Rules, Regulationsand Bye-laws of the relevantDepository that may be inforce from time to time.

E - TERMS AND CONDITIONSFOR AVAILING BSDAFACILITY

A. ELIGIBILITY

1. Customer should have onlyone demat account with inhis capacity as a sole holderor a first holder in the wholedepository system i.e. NSDL

and CDSL.

2. Value of holdings in thisdemat account should notexceed Rs 2 lac.

B. FEATURES OF BSDAFACILITY

1. Scheme A - Customerhaving demat holding fromRs 0 to Rs 50,000 will not becharged any AMC

2. Scheme B - Customershaving demat holding valueof Rs 50,001 to Rs 2 lac willbe charged Rs 100 AMC

3. The value of holding shall bedetermined on the basis ofthe daily closing price orNAV of the securities orunits of mutual funds.Where such price is notavailable the last tradedprice will be taken intoaccount and for unlistedsecurities other than units ofmutual funds, face value willbe taken into account

4. If the value of holding insuch BSDA exceeds theprescribed criteria at anydate, normal charges asapplicable to regularaccounts (non-BSDA) fromthat date onwards shall belevied.

5. Transaction statement (TS)will be sent quarterly unlessthere are no transactions inwhich case Transactionstatement will not be sent.

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One annual statement ofholding will be sent inphysical / electronic form asopted by the account holder.Electronic statements willbe provided free of cost. Incase of physical statement,two physical statement willbe provided free of costduring the billing cycle.Additional physicalstatement will be charged atRs 25/- per statement.

C. DECLARATION

I / We have read andunderstood the Securitiesand Exchange Board ofIndia's guidelines for facilityfor a BSDA. I/We herebydeclare that I/We am/areeligible to open a depositoryaccount as a BSDA holderand undertake to complywith the requirementsspecified by Securities andExchange Board of India(SEBI) or any such authorityfor such facility from time totime. I/We also understandthat in case I/We at anypoint of time do not meet theeligibility as a BSDA holder,my/our aforesaid account isliable to be converted toregular account.

F. TERMS AND C O N D I T-IONS FOR RECEIPT OFSTATEMENT OF TRANSACTIONS THROUGHE-MAIL

1. Definitions: In this

document the followingwords and phrases shallhave the meanings asset below unless thecontext indicatesotherwise:“Account(s)” or “Accounts” or “ Account”refers to the Client’sdepository account(s)maintained with ICICI Bank.

“Client(s)” means refers toa customer of ICICI Bankmaintaining a depositoryaccount with ICICI Bank andavailing of the Services(herein below defined).“Website “ refers to thewebsite owned, establishedand maintained by ICICIBank located at the URLwww.icicibank.com.

2. The Client may subscribe/request for receiving thetransaction statements ofthe Account with ICICI Bankthrough electronic mediumsuch as e-mail or website(here in after referred to asthe “Services”). TheseTerms and Conditions(hereinafter referred to asthe “Terms”) form thecontract between the Clientand ICICI Bank for availingthe said Services. The Clientshall apply to ICICI Bank inthe prescribed form for useof the said Services. Byapplying for or availing ofthe said Services, the Client

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acknowledges, accepts andagrees to these Terms.

3. ICICI Bank shall endeavourto provide to the Client,through electronic mediumsuch as e-mail or websitethe transaction statementspertaining to the Client’saccount. The electronicdelivery may be in the formof an electronic mail or anattachment to the electronicmail or in any other form asdecided by ICICI Bank andintimated to the Client.

4. ICICI Bank would bedeemed to have fulfilled itslegal obligations to deliverto the Client the transactionstatements if suchtransaction statements aresent through electronicmeans at the email addressprovided by the Client toICICI Bank. Failure on thepart of the Client to adviseICICI Bank of any difficultyin opening any transactionstatement so deliveredwithin twenty-four (24)hours after delivery by ICICIBank shall serve as anaffirmation regarding theacceptance of suchtransaction statement.

5. The Client agrees not toreceive transactionstatements in a physicalform from ICICI Bank oncethe Client has agreed to availsuch Services. However,

notwithstanding the above,the Client will receive theannual transactionstatement in physical form.In the event ICICI Bank isunable to providetransaction statementsthrough an electronicmedium due to anyunforeseen problems and/or temporary technologicallapses/ failure, ICICI Bankshall ensure that thetransaction statementreaches the Client inphysical form as per thetime schedule as stipulatedby NSDL / CDSL. In case ofBSDA, the DP shall send thetransaction statements asmandated by SEBI and/orDepository from time totime.

6. In the event the Clientselects to avail the Services,the Client shall immediatelyinform ICICI Bank about anychange in his/her/it’s emailaddress as provided earlierto ICICI Bank.

7. ICICI Bank does not provideany warranty and makes norepresentation whatsoeverabout the accuracy,authenticity and/orcompleteness of thetransaction statementsprovided through electronicmedium. While ICICI Bankshall endeavour to providethe transaction statement asrequested by the Client

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promptly, ICICI Bank shallnot be responsible for anynon-response or delay inproviding the transactionstatements to the Client dueto any reason whatsoever,including but not limited to,due to failure of operationalsystems or any requirementof law.

8. The Client will take all thenecessary steps to ensureconfidentiality and secrecyof the login name andpassword of the internet/email account.

9. The Client is aware that thetransaction statements maybe accessed by otherentities in case theconfidentiality/secrecy ofthe login name andpassword is compromised.

10. The Client accepts fullresponsibility for themonitoring andsafeguarding of the Client’saccounts with ICICI Bank.The Client shall immediatelynotify ICICI Bank in writing,delivered via e-mail and/orRegistered AD: (a) If theClient becomes aware ofany loss, theft orunauthorised use of thepasswords or digitalsignatures of the Client, asthe case may be and theClient’s account number; or(b) Any inaccurateinformation in the account

balances, investmentproducts positions, ortransaction history.

11. If the Client fails to notifyICICI Bank immediatelyupon the Client’s knowledgeabout the time when any ofthe above conditions (asmentioned in clause 10)occur, neither ICICI Bank norany of its officers, directors,employees, agents, affiliatesor subsidiaries can or willhave any responsibility orliability to the Client or toany other person whoseclaim may arise through theClient for any claimsincluding but not limited toclaims arising with respectto the handling,mishandling or loss of anyorder. Under nocircumstances, includingnegligence, shall ICICI Bankor anyone involved increating, producing,delivering or managing theServices for ICICI Bank beliable for any direct,indirect, incidental, specialor consequential damagesthat result from the use ofor inability to use theServices, or out of anybreach of any warranty.

12. Both ICICI Bank and theClient have the right toterminate such Servicesprovided a written notice isgiven atleast 10 (ten) days inadvance to the other party.

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13. ICICI Bank reserves thediscretion to revise/modify/alter the Terms herein.

14. All disputes arising out of orin relation to this terms andconditions shall begoverned by the laws ofIndia and shall be subject tothe exclusive jurisdiction ofthe competent courts atMumbai.

15. Notwithstanding anythingcontained herein, all termsand conditions stipulated byICICI Bank pertaining to theAccount(s) and/or to anyservices/facilities offered byICICI Bank, shall continue tobe applicable to the Client.The above Terms are inaddition to and not incontravention of the termsand conditions forming partof the Rights andObligations document andthe “LETTER OFCONFIRMATION” signed bythe Client at the time ofopening the account withICICI Bank and the terms andconditions relating to anyAccount(s) of the Clientand/or to those relating toservices/facilities offered byICICI Bank and availed bythe Client. However, in theevent of a conflict in suchother terms and conditionsstipulated byICICI Bank,Rights and Obligationsdocument , Letter ofConfirmation and the Terms

herein, these Terms shallhave an overriding effect tothe extent of such conflict.The Client agrees that in theevent the Client avails of anyservices/ facilities offered byICICI Bank through theWebsite, the Client shall bebound by all the terms andconditions stipulated byICICI Bank pertaining tosuch services/facilities,offered by ICICI Bank andavailed by the Clientthrough the Website.

16. Banker's Lien and Set-Off:ICICI Bank shall have theparamount right of set-offand lien, irrespective of anyother lien or charge, presentas well as future, on all thedeposits held/ balanceslying in any Account of theCustomer, whether in singlename or joint name(s), tothe extent of all amountspayable by the Customerarising as a result of any ofICICI Bank's servicesextended to and/or used bythe Customer or as a resultof any other facilities thatmay be granted by ICICIBank to the Customer. ICICIBank is entitled without anynotice to the Customer tosettle any indebtednesswhatsoever owed by theCustomer to ICICI Bank,whether actual orcontingent, or whetherprimary or collateral, orwhether joint and/or

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several, including withoutlimitation indebtednessunder any indemnity givenby the Customer to ICICIBank hereunder or underany other document/agreement, by adjusting,setting-off any deposit(s)and transferring monieslying to the balance of anyAccount(s) held by theCustomer with ICICI Bank,notwithstanding that thedeposit(s)/ balances lying insuch Account(s) may not beexpressed in the samecurrency as suchindebtedness. ICICI Bank'srights hereunder shall notbe affected by theCustomer's bankruptcy,insolvency, death orwinding-up.

G. OTHER TERMS AND CON-DITIONS

1. This Letter shall, at all times,be subject to GovernmentNotifications, the relevantstatutory rules, regulations,bye laws, customs and/orusage of the concernedregulatory body having ju-risdiction over the transac-tion with respect to the par-ticular Investment Product.An order inadvertently pro-cessed, in spite of insuffi-cient balances in the Client’sBank Account or the ac-count maintained with ICICIBank Depository Participantshall at ICICI Securities sole

discretion be subject to can-cellation or liquidation.

2. An order inadvertently pro-cessed, in spite of insuffi-cient balances in the Client’sBank Account or the ac-count maintained with ICICIBank Depository Participantshall at ICICI Securities solediscretion be subject to can-cellation or liquidation. TheClient shall credit the re-quired fund to his Bank Ac-count with ICICI Bankpromptly to ensure that thepayment shall be receivedand processed on or prior tothe settlement date or a dateintimated by ICICI Securi-ties, whichever is earlier. Ifthe payment is not receivedas aforesaid, then ICICI Se-curities may square off thesame without any prior inti-mation to the Client. In theevent of liquidation of theAccount, the Client shall beliable for any resultinglosses and all associatedcosts incurred by ICICI Se-curities.

3. ICICI Securities may, in itsdiscretion, send any docu-ment that is obligatory to besent to the Client by meansof an electronic communi-cation, with the possible ex-ception of graphic inser-tions such as photographsor logotypes, except Con-tract Notes which shall besent electronically only if

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client has opted for Elec-tronic Contract Notes (ECN).This electronic communica-tion may be in the form ofe-mail, an e-mail attach-ment or in the form ofdownload available on theWebsite. ICICI Securitieswould be deemed to havefulfilled its legal obligationto deliver a document to theClient, if it is sent by the elec-tronic mode. The Clientshall download the saiddocument promptly on in-timation of a notice of itsdisplay. Provided that on arequest being made by theClient, due to a difficulty ex-perienced by the Client inviewing the same, ICICI Se-curities may, in its discre-tion, make the required de-livery by such other means,as it may deem appropriate.The document shall bedeemed to have been dulydelivered and its content ac-cepted by the Client if thereis no intimation received byICICI Securities withintwenty-four hours from thedate of delivery / display ofthe document. Nothingmentioned in this clauseshall be applicable to ECNssince the same is governedby Exchange specifiedrules/regulations pre-scribed from time to timeand as mentioned in Rightsand Obligations documentin this application form.

4 ICICI Securities agree that it,shall keep all InvestmentProducts belonging to theClient in separate accounts& shall transact in the samebased only on the directionsof the Client or his power ofattorney holder or as autho-rized by this Letter or as re-quired by rules, regulationor law of any authority regu-lating the Investment Prod-ucts for the time being inforce.

5. ICICI Securities shall creditthe proceeds of the sale/re-demption etc. of any of theInvestment Products onlyafter ICICI Securities has re-ceived the same unless spe-cifically agreed otherwise.The proceeds of all sales willbe credited to the Client’sBank Account directly onthe designated date.

6. If the securities are not re-ceived on or before settle-ment date or securities re-ceived are not in deliv-erable state or due to anyother reason whatsoever,Client is not able to deliversecurities, the securities willbe auctioned or closed outas per the rules of the con-cerned Exchange. Conse-quently, the Client will be re-sponsible for any resultinglosses and all associatedcosts including penalty lev-ied by the Exchange.

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7. The Client acknowledgesthat ICICI Securities, shallnot be under any obligationto provide him with any tax,legal, accounting, invest-ment advice or advice re-garding the suitability orprofitability of investment ofany kind, nor do ICICI Secu-rities, give any advice or of-fer any opinion with respectto the nature, potentialvalue or suitability of anyparticular transaction or in-vestment strategy.

8. The Client shall at all timesbe responsible and liable forhis own actions/inaction.The Client may be able toaccess investment researchreports through the Internetfrom the Website, includingcomputerised online ser-vices or other media. Theavailability of such informa-tion does not constitute arecommendation to buy orsell any of the InvestmentProducts. Any investmentdecisions will be basedsolely on the Client’s ownevaluation of financial cir-cumstances and investmentobjectives. Any real-timequotes provided are only forthe Client’s individual useand the Client shall not fur-nish such data to any otherperson or entity.

9. The Client agrees that eachparticipating exchange orassociation or agency thatsupplies any data to be dis-

played on the Website as-serts a proprietary interestin all of the market data it fur-nishes to parties that dis-seminate the said data. Nei-ther ICICI Securities, norany participating exchangeor association or agency orany supplier of market dataguarantees the timeliness,sequence, accuracy, com-pleteness, reliability or con-tent of market information,or messages disseminatedto or by the party. ICICI Se-curities, services are pro-vided on an “as available”basis without warranties ofany kind, either express orimplied, including, withoutlimitation, those of mer-chantability and fitness fora particular purpose.

10. Neither ICICI Securities, norany other party disseminat-ing any data/message/ in-formation through theWebsite shall be liable forany inaccuracy, error, omis-sion in or delay in the trans-mission or delivery of:

(1)Any such data, informa-tion or message, or

(2) Any loss or damage aris-ing from or occasioned by:

(i)Any such inaccuracy, er-ror, delay or omission,

(ii)Non-performance, or

(iii)Interruption in any suchdata, information or message, due to either any act

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or omission by ICICI Secu-rities, or any disseminatingparty or to any “force majeure” (e.g., flood, extraordinary weather condition,earthquake or other act ofGod, fire, war, insurrection,riot, labour dispute, acci-dent, action of government,communications, powerfailure, equipment or soft-ware malfunction) or anyother cause be yond thereasonable control of ICICISecurities or any dissemi-nating party.

11. All Investment Productsnow or hereafter held, car-ried or maintained by ICICISecurities, in its possessionor control, for any purpose,in or for the benefit of anyof Client, now or hereafteropened, including any ac-count in which Client mayhave an interest, shall besubject to a lien in favour ofICICI Securities, for the dis-charge of all indebtednessand Client’s other obliga-tions to ICICI Securities, andare held by ICICI Securities,as security for the paymentof any liability or indebted-ness of Client’s to ICICI Se-curities, in any of said Ac-counts. The Client autho-rises ICICI Securities totransfer the InvestmentProducts and other propertyso held from or to any otherof Client’s Accounts withICICI Securities, whenever,

in the judgment of ICICI Se-curities, it is considered thatsuch transfer is necessaryfor the protection of ICICISecurities interest. In en-forcing ICICI Securities lien,ICICI Securities shall havethe right and discretion todetermine which Invest-ment Products and proper-ties are to be sold and whichcontracts or positions are tobe closed. In the event of abreach or default by Clientunder this Letter, ICICI Secu-rities shall have all rightsand remedies available to asecured creditor under allapplicable law in additionto the rights and remediesprovided herein.

12. The Client acknowledges,represents and warrantsthat he has received/shallreceive such passwords ordigital signatures, as thecase may be, which pro-vides access to the ClientAccount and that the Cli-ent is the sole and exclusiveowner and shall be used byhim of such passwords ordigital signatures, as thecase may be, and acceptsole responsibility for use,confidentiality and protec-tion of the password or digi-tal signature, as the casemay be, as well as for all or-ders and other informationchanges entered using sucha password or digital signa-ture, as the case may be.

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Any order entered or appli-cation preferred using thepasswords or digital sig-natures, as the case may be,shall be deemed to havebeen entered by the Clientor his duly authorizedagents/ representatives.

13. The Client is aware that thetransaction statements,which would be provided tothe Client through Websiteor otherwise (as may be in-timated to the Client), maybe accessed by other enti-ties in case the confidenti-ality / secrecy of the pass-word is compromised bythe Client.

14. The Client grants expressauthority to ICICI Securitiesfor carrying out transac-tions and instructions (a)authenticated by the pass-word provided to the Clientor (b) entered by the regis-tered intermediary on be-half of client.

ICICI Securities has no obli-gations to verify the authen-ticity of any transaction in-struction sent or purportedto have been sent from theClient other than by meansof verification of the Client’spassword.

15. The Client accepts full re-sponsibility for the monitor-ing and safeguarding of theClient’s accounts with ICICISecurities and ICICI Bank.The Client shall immediately

notify ICICI Securities andICICI Bank in writing, deliv-ered via e-mail and Regis-tered AD:

(a) If the Client becomesaware of any loss, theft orunaut-horised use of thepasswords or digital signa-tures, as the case may beand account number; or (b)Any failure by the Client toreceive a message fromICICI Securities indicatingthat an order or an applica-tion was received and ex-ecuted; or any failure by theClient to receive an accurateconfirmation of an execu-tion; or (c) Any receipt bythe Client of confirmation ofan order and/or executionwhich the Client has notplaced; or (d) Any inaccu-rate information in the ac-count balances, InvestmentProducts positions, or trans-action history.

16. If the Client fails to notifyICICI Securities and ICICIBank immediately upon theClient’s knowledge whenany of the above conditionsoccur, neither ICICI Securi-ties and ICICI Bank nor anyof its officers, directors,employees, agents, affili-ates or subsidiaries can orwill have any responsibilityor liability to the Client or toany other person whoseclaim may arise through theClient for any claims includ-

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ing but not limited to claimsarising with respect to thehandling, mishandling orloss of any order. Under nocircumstances, includingnegligence, shall ICICI Secu-rities and ICICI Bank or any-one involved in creating,producing, delivering ormanaging ICICI Securitiesand ICICI Bank be liable forany direct, indirect, inciden-tal, special or consequentialdamages that result fromthe use of or inability to usethe service, or out of anybreach of any warranty.

17. The use and storage of anyinformation including, with-out limitation, the pass-words or digital signatures,as the case may be portfo-lio information, transactionactivity, account balancesand any other informationor orders available on theClient’s personal computeris at the Client’s own riskand is the Client’s sole re-sponsibility. The Client shallbe solely responsible forproviding and maintain-ing the communicationsequipment (including per-sonal computers and mo-dems) and telephone or al-ternative services requiredfor accessing and using theweb-site or related ser vices,and for all communicationsservice fees and charges in-curred by the Client in ac-

cessing the Website or re-lated services.

18. The Client is authorised touse materials which aremade available by ICICI Se-curities services or of otherthird parties on the Websitefor Client’s own needs onlyin accordance with theterms and conditions speci-fied for such usage, and Cli-ent is not authorised to re-sell access to any such ma-terials or to make copies ofany such materials for saleor use by others. The Clientwill not delete copyright orother intellectual propertyrights notices from print-outs of electronically ac-cessed materials.

19. The Client understands thatICICI Securities may at anytime, at its sole discretionand without prior notice tothe Client, prohibit or restrictClient’s access to the useof the web-site or relatedservices or in any specificsecurity and Client’s abilityto trade.

20. The Client understands,agrees and authorizes ICICISecurities at its discretion,and without further priornotice to the Client, to moni-tor and record any or alltelephone conversations be-tween the Client on the onehand and ICICI Securitiesand any of ICICI Securitiesemployees or agents on the

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other hand and to monitorthe Client’s electronic com-munications conductedwith ICICI Securities so as toenable them to maintain anaudit trail of all the transac-tions executed by the Client.

21. The Client shall notify ICICISecurities within sevendays, of any change in thedetails set out in the appli-cation form submitted toICICI Securities at the timeof opening the account orfurnished to ICICI Securitiesfrom time to time.

22. The Client acknowledgesthat he is fully aware of therisks involved in online trad-ing activities, including therisk involved due to unau-thorized access or any tech-nical difficulties. The Clientspecifically agrees to holdICICI Securities harmlessfrom any and all claims, andagrees that ICICI Securitiesshall not be liable for anyloss, actual or perceived,caused directly or indirectlyby government restriction,exchange or marketregulation, suspension oftrading, war, strike, equip-ment failure, communica-tion line failure, system fail-ure, security failure on theInternet, unauthorised ac-cess, theft, or any problem,technological or otherwise,or other condition beyondthe control of ICICI Securi-

ties that might prevent theClient from entering an or-der or ICICI Securities, fromexecuting an order. The Cli-ent further agrees that hewill not be compensated byICICI Securities for “lost op-portunity” viz., notionalprofits on buy/sell orders,which could not be ex-ecuted. Furthermore, in atechnical environment,should an error occur withrespect to the tracking ofany account holding or or-der entry, the true, actualand correct transaction orposition will be restored. Itshall be Client’s responsibil-ity to ensure account cor-rectness and accuracy andto contact ICICI Securities,immediately in respect ofany discrepancies.

23. ICICI Securities may sendthe order/trade confirma-tion slip/online intimation ofsuccessful/ unsuccessfulapplications through e-mailto the Client, within suchperiod as prescribed or rea-sonably possible/practi-cable for ICICI Securities todo so from the time of ex-ecution of order/trade onthe National Exchange forAutomated Trading (NEAT)/BSE On-Line Trading (BOLT)system or such other thirdparty as the case may be foreffecting purchase/sale orpreferring an application foran investment product, asthe case may be, or by

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means of electronic record,duly authenticated by ICICISecurities digital signature.The Client agrees that theinformation sent by ICICISecurities by email isdeemed to be a valid deliv-ery of such information byICICI Securities.

24. If the client does not wish toreceive the contract notes inelectronic format then theclient will confirm the samein writing to ICICI Securities.The client hereby opts toreceive the contract notesfor the trades executed forhim/her, is an electronicform i.e. digitally signedcontract notes (applicable ifcustomer has not opted forphysical contract note inKYC form).

25. The Client understands thatthe terms and conditionsgoverning a specific invest-ment product or service willbe binding on the Clientonly if such product or ser-vice is made available to theClient and the Client tradesin that investment productor avails of that particularservice.

26. The client understands andagrees that he is bound bythe online Terms and Con-ditions and FrequentlyAsked Questions (FAQs) asposted on the site or com-municated by I-Sec and asmodified from time to time.For products which are dealt

on Stock Exchanges, ICICISecurities shall follow theprocess as per the appli-cable rules and regulationsof the concerned Stock Ex-changes for changes interms and conditions.

27. In case of short fall in mar-gin ICICI Securities willcheck for availabilty of ad-ditional limits in clientsaccountto see wheather ad-equate additional limits areavailable to restore the mar-gin level to the initial mar-gin levels and if no such lim-its are available then theclient’s open position maybe squared off by ICICI Se-curities , as its discretion

28. In case of change in margin% by the Stock Exchange,ICICI Securities will have tochange the applicable mar-gin % immediately and anyshortfall in margin on clientopen position due to thesame will be dealt in thesame manner as specifiedabove.

29. Client agrees that no inter-est shall be payable by ICICISecurities to Client, on cli-ent margin money or pay-in/ payout obligation fundslying with ICICI Securitieswhich may have been ac-crued on such funds.

30. The Client hereby agrees toindemnify ICICI Securitiesand ICICI Bank against anyloss (actual or notional),

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costs, expenses etc., whichmay be suffered by ICICISecurities and/or ICICI Bankand their Group Companies,or against any claim, de-mand, action, proceedingthat may be initiated againstICICI Securities and / orICICI Bank, in connectionwith this Letter or non-com-pliance of any applicablerules and regulations orarising out of or in connec-tion with due to a breach ofany of the Client obligationsunder Right and Obligationdocument, Risk Disclosuredocument, Policies and Pro-cedures and GuidanceNote, Rights and Obliga-tions of Beneficial Ownerand/or this Letter.

31. The client undertstands thatin case account opening ap-plication or an applicationfor investing or subscribingto any other product/ser-vice is rejected then ICICISecurities and ICICI Bank isnot bound to return the ap-plication form/ KYC docu-ments and the same will bedestroyed by ICICI Securi-ties or ICICI Bank in case ofrejections.

32. The client understand thatICICI Securities Limited willnot exercise voting rights onshares held on behalf ofclient in client beneficiarydemat account or poolaccount.

H. TERMS AND CONDITIONSGOVERNING TRADING INFUTURES AND OPTIONSTHROUGH ICICISECURITIES LIMITED (FORNON SPAN MARGINCUSTOMERS)

“Available margin”, unlessotherwise specificallydescribed for a product,shall mean margincalculated by deductingintra day MTM loss on aposition under any facilityoffered by ICICI Securitiesat any given point in timefrom the Margin blocked atthat point in time. The Clientagrees that it will be theclient’s responsibility toensure that the availablemargin with ICICI Securitiesis always above theminimum margin levelsspecified for the respectivepositions. The client agreesthat since ICICI Securitiesprovides trading facilitythrough internet it may notbe possible for it to informthe client about short fall inmargin, if any, on a one toone basis. The client agreesto monitor his position on acontinuous basis and do theneedful as ,may be required,to safeguard his position.Exercise: In case ofEuropean option, the Clientcan place an exerciserequest only on the Lastdate of the contract. The

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exercise request can beplaced only at specified timeintervals when the exercisemarket is open. On theExpiry day of the Contract,the exchange wouldautomatically exercise the(Call/Put) Buy position incase the Position is In-the-Money.In case of exercise requestplaced by the Client orexercised by the StockExchange. The exercisedrequest is reduced from theopen positions in theMarginable sell orderposition. Hence the sellorder position would besubject to Margin require-ment, if the quantity of sellorder exceeds the differ-ence between the buyposition and the exerciserequest quantity. If theExercise Request is notaccepted by the exchange atthe end of the day, theExercise Request is markedas rejected at the end of theday.Assignment: In case theClient has a Sell position,the Contract may beassigned to the Client and insuch an event the Clientundertakes to Buy theUnderlying in case of Putand sell the Underlying incase of Call. However, if theContracts are settled incash, the Client would haveto pay or receive the cash in

case of an assignment. TheClient understands thatthere can be part Assig-nment as may be decided bythe Stock Exchange in itssole discretion.

1. The client understands thatwhenever he places anOptions Sell (Buy) order inthe derivatives segment of,which results in a position,a Trigger price is calculated(as per the formuladisplayed on site) which isdisplayed in the Openpositions book. Wheneverthe Underlying price of theshares goes above (below)the Trigger price in case ofSell Call (Put), the Contractwould enter the Mark toMarket process.

2. The Client understands andagrees that I-Sec may, at itssole discretion, determinethe frequency and the timefor running the Mark toMarket Process, the processby which ICICI Securitiesshall identify open positionsin the Derivatives segmentfor which Available marginis below the MinimumMargin and take steps, forcollecting the requiredadditional margin orsquaring off such positions.In case of short fall inmargin ICICI Securities willcheck for availability ofadditional limits in clientsaccount to see whetheradequate additional limits

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are available to restore themargin level to the initialmargin levels and if no suchlimits are available then theclient’s open positions maybe squared off by ICICISecurities, at its discretion.The Client understands andagrees that the said processis run at stipulated intervalsand not run on a real timebasis. The Client is awarethat the process identifiesshortfall on individualposition level, except in caseof spread position. Squareoff is initiated Lot wise foreach position after whichthe system recalculatesmargin requirements andthen initiates further squareoff. For treatment regardingspread positions and otherdetails on the features of theproducts, the client is awarethat he will have to refer theonline Terms and Condit-ions on the site. ICICISecurities shall not berequired to make a margincall or otherwise inform theClient that the margin asfurnished by the Client hasfallen below the requiredlevel and it shall be theresponsibility of the Clientto regularly monitor andreview the Marginavailability and furnish theadditional Margin to ICICISecurities.

3. The Client agrees that ICICISecurities shall have the

discretion to selectcontracts that will beenabled for trading inFutures and the individualmargin percentage, bothMinimum margin and Initialmargin, in the F&Osegment. The Margin maybe taken in cash or in formof securities as may beacceptable to ICICI Secur-ities.

4. The Client agrees thatMargin is blocked only onthose new future orders,which may result intoincreased risk exposure. Forcalculating the margin atorder level, values of all buyorders and sell orders (inthe same underlying-groupas may be determined byICICI Securities) is arrivedat. Margin is levied on thehigher of two i.e. if buy ordervalue is higher than sellorder value, only buy orderswill require Margin beingfurnished and vice versa.

5. Spread position: Spreadposition would attractSpread Initial MarginPercentage (SIM) andSpread Minimum MarginPercentage (SMM) inconnection with margincalculation instead of InitialMargin Percentage andMinimum Margin Percent-age. Spread position valueis calculated by multiplyingthe weighted average priceof position in far month

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contract and spreadposition quantity. Spreadmargin percentage is thenapplied to spread positionvalue to arrive at spreadmargin. ICICI Securitiesshall in its sole discretion,determine the contractswhich can form spreadpositions against eachother.

6. Margin is blocked only onorders that result in anincreased Risk exposure.Margin may not berecovered from an order,which is cover in nature. Ifa Position of opposite natureis present then the Order isreduced by the oppositeposition, if the oppositeposition is greater than theorder, then the order maynot require Margin.However, ICICI Securitiesshall have the solediscretion to determine theMargin Requirement.

7. Split of Contract: In case ofcontracts which fall underSpread Position, four (4)calendar days (or such othernumber of days asdetermined by ICICISecurities from time totime) prior to the expiry ofa contract, open position ofthat contract would be takenout of Spread Position andsubjected to normal InitialMargin requirement.Position in such separatedcontracts would be shown

separately. Limits would bereduced appropriately toapply Initial Margin on nearmonth contract. If Limits areinsufficient for applicationtowards the Initial Marginrequirement, the Marginavailable in a group fromwhich the near monthcontract was moved willalso be utilized to makegood the short fall. Aftermoving the near monthcontract from the existinggroup to separate group,Margin requirement for theexisting group will be re-calculated and Limits wouldbe reduced appropriately.

8. In case of option contracts,if the Client does not squareoff the transaction till thelast day of the contract, theposition will be marked asclosed off and the samecannot be exercised orassigned.

9. In case of Future contracts,in case the contract remainsopen till the contractexpires, ICICI Securities aswell as the Exchange wouldexpire the position on thelast day of contract afterrunning EOD MTM Processand the position would beclosed at the closing priceof the spot (equity) market.Margin blocked on suchexpired position will also bereleased and the Limitswould be appropriately

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increased after adjustingprofit/loss on close out.

I. TERMS AND CONDITIONSGOVERNING TRADING INFUTURES AND OPTIONS(FOR SPAN MARGINCUSTOMERS) THROUGHICICI SECURITIES LIMITED“Deficit Margin” is theamount of excess marginarising out of differencebetween revised InitialMargin computedconsidering latest riskparameter file received fromexchange/prices/marginpercentage and InitialMargin already blocked onexisting positions of theClient.“Deficit Loss” is the amountof excess notional lossarising out of differencebetween revised notionalloss computed consideringlatest prices and notionalloss amount alreadyblocked on existingpositions of the Client.

1. The Client agrees that SPANbased margining systemprovided by ICICI Securitiesconsolidates and groupsvarious positions taken bythe Client in Futures as wellas Options contracts atunderlying level andcomputes marginrequirement for eachunderlying by clubbing allthe contracts/positions ofthe same underlying in onegroup instead of contract

wise margining. The Clientunderstands that clubbingof contracts/positions of thesame underlying forcomputation of requiredmargin would be doneeither at order level(pending execution)or attrade level (post execution),depending on the contracttype in which the Client hasplaced an order or createda position, at the discretionof ICICI Securities.

2. Client understands thatthere could be scenarioswherein margin charged atposition/trade level cansubstantially increase ascompared to the margincharged at order level. If theClient does not maintainsufficient margins requiredto meet the new InitialMargin requirement posttrade execution then ICICISecurities may square offsuch positions whilerunning Intraday Mark toMarket (IMTM) process at itssole discretion withoutconsulting or intimating theClient and the Client shall besolely responsible for anylosses arising on account ofthe same.

3. The Client agrees that Clientwill have to make availablesufficient limits to provideInitial Margin requiredbefore taking positions inFutures and Options. TheClient agrees that margin

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shall be blocked at theapplicable Marginrequirement based on thelatest risk parameter filereceived from Exchange/Clearing House. The Clientagrees that ICICI Securitiesshall require the Client toprovide Deficit Margin andDeficit Loss on existingpositions, if any, under aparticular underlying at thetime of placement of freshorder in the sameunderlying apart fromblocking Initial Marginrequired on fresh positions.This Deficit Margin andDeficit Loss on existingpositions will also bededucted from the limits ofthe client at the time oforder placement. Clientagrees that if existing limitsof the Client is not sufficientto meet the Deficit Marginand Deficit Loss on existingpositions, then the Clientwill not be allowed to placefresh orders in suchunderlying. Clientunderstands that sameprocess will be followed ofblocking Deficit Margin andDeficit Loss on existingpositions while making anymodification to anypending orders under sameunderlying which are yet tobe executed.

4. However, if the Client placesa cover order which is asquare off order meant to

reduce existing positions,system will block the limitsto recover Deficit Margin tothe extent the limits areavailable and allow the orderto be accepted. Clientunderstands that once thecover order gets executed,realised profit or lossamount on the squared offpositions is adjusted in thelimits and margin forunderlying portfolio isrecomputed and blocked tothe extent of available limits.Client agrees that ifsufficient margin is notavailable on cover orderexecution then ICICIsecurities shall mark thecustomer’s open positionsin the same underlying forsquare off if the availablemargin falls belowminimum margin. ICICISecurities at its discretionwill run the intra day MTMprocess for squaring offsuch positions marked forsquare off due to marginshortfall .

5. The Client agrees that ICICISecurities shall require theClient to provide DeficitMargin on existingpositions, if any, under aparticular underlying at thetime of cancellation ofunexecuted order in thesame underlying. ThisDeficit Margin on existingpositions will be deductedfrom the limits of the client

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at the time of ordercancellation. Client agreesthat if existing limits of theClient is not sufficient tomeet the Deficit Margin onexisting positions, then theClient will not be allowed tocancel pending orders insuch underlying. Further,the Client agrees that ifsufficient margin isavailable to meet the DeficitMargin requirement thencancellation of order wouldbe allowed and in additiondeficit loss under theexisting underlyingpositions, if any, will beblocked to the extent ofavailable limits.

6. The Client agrees that ICICISecurities shall require theClient to provide DeficitMargin and Deficit Loss onexisting positions, if any,under a particularunderlying after each tradeexecution in the sameunderlying. This DeficitMargin and Deficit Loss onexisting positions will bededucted from the limits ofthe client post tradeexecution.

7. The Client agrees that ICICISecurities may require theClient to provide suchmargin (in such form andmanner as acceptable toICICI Securities) dependingon the Stock and marketvolatility on differentcontracts as it deems fit in

its sole discretion asnecessary for Riskmitigation. This marginrequirement may be morethan the margin prescribedby the Stock Exchange. Themargin may be taken incash or in form of securitiesas may be acceptable toICICI Securities. In event theClient offers securities asmargin to ICICI Securities,then the Terms andconditions as hereundershall apply.

8. The Client agrees to providerequired Margin (includingadditional Margin) as maybe determined by ICICISecurities from time to time.The Client agrees that ICICISecurities may, in its solediscretion, require the Clientto provide additional /further margin dependingupon the Client’s positions,in form and manneracceptable to ICICISecurities. If the availableLimit is not sufficient tomeet the demand foradditional Margin, ICICISecurities may close out theopen position taken by theClient and the Client shall besolely responsible for anylosses arising out account ofthe same. The client is awarethat client’s have beenprovided with tools on thewebsite itself where theclient can ascertain details

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of existing margin blocked,margins required, MTMloss adjustment, marginpercentage, highlighting ofopen positions in aparticular colour whereavailable margin has fallenbelow minimum marginrequirement, etc. Themargin requirement derivedby use of these tools wouldbe construed as demand/margin call for theadditional margin requiredby I-Sec. The client isrequired to regularlymonitor and review theMargin availability andfurnish the additionalMargin to ICICI Securities.ICICI Securities reserves theright to close out the openposition at any time (withoutconsulting the Client) incase the Client does notsatisfy the additionalMargin requirements. TheClient undertakes tomaintain sufficient limits tosafeguard the open positionfrom being squared off orpending orders from beingcancelled.

9. The Client agrees that ICICISecurities may, in its solediscretion, change themargin requirement onTransactions where theClient has taken or proposesto take a position and/orrequire the Client to provideadditional / further margin,depending on its own risk

mitigation measures andwithout intimating orconsulting the Client.

10. In case of upward revisionof the margin requirement,the Client agrees to allocateadditional margin (in formof cash or securities as maybe acceptable to ICICISecurities) to continue withopen position taken inconnection with theTransaction. The Clientfurther agrees that ICICISecurities shall have thediscretion to select stocks/contracts that will beenabled for trading in theFutures or Options and themargin requirement onsuch contracts.

11. Available margin: Whenthe IMTM process is run,Available Margin iscalculated by adding ordeducting notional profitsor losses respectively onopen Futures as well asShort Options positionsfrom Margin blocked withrespect to an underlying.When the available marginis below the MinimumMargin required,New(revised) Initial Marginrequired on existingunderlying portfolio(including open positionsand pending orders) is re-calculated by taking latestSPAN margin calculated asper latest risk parameterfiles and latest exposure

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margin calculated atCurrent Market Price (CMP)of respective futurescontract positions and atCurrent Market Price (CMP)of underlying of respectiveShort Options positions.Risk management systemthen computes DeficitMargin and Deficit Loss toarrive at Total Deficit. If theLimits of the Client issufficient to meet the TotalDeficit, ICICI Securitieswould block additionalMargin required out of theLimits available. In caseLimits are not sufficient tomeet the additional Marginrequirements then ICICISecurities may place asquare off order forappropriate quantity as itdeems fit at market rate toclose the position and theClient shall be solelyresponsible for any lossesarising out of the same.However, before placingsquare off order all pendingorders in that underlying(contracts having sameunderlying) may becancelled by ICICISecurities. ICICI Securitiesshall determine, at its solediscretion, which contractsof a particular underlyingare required to be squaredoff due to margin shortfall.

12. ICICI Securities reserves theright for inclusion orexclusion of contracts/

positions for computation ofnotional profits or losses forarriving at Available Marginand ICICI Securities maydecide not to give anybenefit of notional profitswhile computing AvailableMargin at its sole discretion.

13. The Client understands thatICICI Securities has alsoprovided a facility to theClient wherein Clienthimself can run IMTMprocess to ascertain andblock the additional marginrequirements on Clientopen positions in aparticular underlying at thetime of running IMTMprocess. The IMTM processwill consider blockingadditional margin onunderlying portfolios whoseAvailable Margin has fallenbelow Minimum Marginrequired on such portfolios.If the margin made availableby the Client is insufficientto meet the revised InitialMargin requirement, thenthe underlying will bemarked for square off i.e.the positions in suchunderlying will be squaredoff by ICICI Securities forappropriate quantity as itdeems fit when IMTMprocess is run by ICICISecurities.

14. The Client agrees that ICICISecurities, in its solediscretion, shall determinethe sequence in which

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positions need to besquared off in case ofmargin shortfall in anunderlying and shall at itsdiscretion square off theriskiest positions first.

15. Client agrees that if anypenalty is levied upon ICICISecurities by Exchange/Clearing House due to shortmargin collection from theClient (margin shortfall),then ICICI Securitiesreserves the right to recoversuch penalty from the Clientby debiting the linked bankaccount of the Client orselling securities ofappropriate value from thelinked demat account of theClient. Client is liable to paysuch penalty amountforthwith to ICICI Securitieswhen demanded by ICICISecurities if funds/securitiesin the linked bank/demataccount are insufficient tomeet the penalty amount.

J. MISCELLANEOUS:

1. The client is aware that ICICISecurities Ltd. and ICICIBank Ltd. with its subsidiar-ies and affiliates (collectivelyreferred to as “group com-panies”) are engaged, interalia, in asset management,insurance, custodial ser-vices, securities trading, se-curities brokerage, bankingservices as well as providinginvestment banking and fi-nancial advisory services

etc. ICICI Securities Ltd. /ICICI Bank Ltd. are also en-gaged in distribution of thirdparty products and act asMerchant Banker, Invest-ment Adviser and a Bankerto public issues / offers andmay hold proprietary posi-tions in various productsand avail on their own ac-count various services of-fered by them and theirgroup companies under dif-ferent capacities. ICICI Secu-rities Ltd. / ICICI Bank Ltd.shall at all times maintainhigh standards of integrityin the conduct of their busi-ness and ensure fair treat-ment of its clients andthereby also avoid any pos-sible conflict of interest inproviding fair and unbiasedservices to clients. In orderto avoid all possible sourcesand potential conflict of in-terest, ICICI Securities Ltd. /ICICI Bank Ltd. and itsgroup companies have putin place various measureslike (a) complying with ap-plicable laws and acting ingood faith and interest ofcustomer at all points intime (b) having in place aconflict of interest policy (c)dealing with group compa-nies under arms length prin-ciple (d) strong Chinesewalls to prevent flow of cus-tomer information and en-suring customer confidenti-ality and privacy.

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2. The Client shall not assignany right and obligationshereunder without first ob-taining the prior writtenconsent of ICICI Securities.ICICI Securities and ICICIBank, may, however, assigntheir rights and obligationsto any third person withoutthe prior consent of the Cli-ent. However, in case ofmerger/ demerger of theICICI Securities Ltd with an-other entity / into anotherentity or any other corpo-rate restructuring, ICICI Se-curities shall follow the pro-cess as per the applicablerules and regulations of theconcerned Stock Ex-changes/Regulators.

3. The Client agrees that theClient would be able to ex-ercise the right to close/freeze any of the accountswith ICICI Securities only ifthere is no obligation pend-ing to be met by the Clientin favour of either ICICI Se-curities or towards any otherthird party through ICICI Se-curities in any form.

4. The invalidityor unenfo-rceability of any provisionsof this Letter in any jurisdic-tion shall not effect the va-lidity, legality or enforce-ability of the remainder ofthis Letter in such jurisdic-tion or the validity, legalityor enforceability of this Let-ter, including any such pro-

vision, in any other jurisdic-tion, it being intended thatall rights and obligations ofthe Parties hereunder shallbe enforceable to the fullestextent permitted by law.

5. The heading of each provi-sion thereof is for descrip-tive purposes only and shallnot be deemed to modify orqualify any of the rights orobligations set forth in eachsuch provision.

6. The Client shall at all timescontinue to be responsiblefor any transaction orderedon his accounts prior tothe cancellation of the ser-vices. If the service is with-drawn for a reason otherthan the breach of the termsand conditions by the Cli-ent, the liability of ICICI Se-curities shall be restricted tothe return of the annualcharges, if any, recoveredfrom the Client for the pe-riod in question. The clo-sure of the accounts of theClient shall automaticallyterminate the web basedbrokerage service facilitatedby the Website and ICICI Se-curities may suspend or ter-minate online tradingfacilities without prior no-tice if the Client hasbreached these terms andconditions or it learns of thedeath, bankruptcy or lack oflegal capacity of the Client.

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7. The Client agrees that ICICIBank and / or ICICI Securi-ties may forthwith terminatethis Letter of Confirmationby giving a notice to the Cli-ent electronically or other-wise.

8. The Client agrees that inevent the Client desires toterminate this letter of con-firmation executed by theClient in favour of ICICI Se-curities and ICICI Bank, theClient shall give a writtennotice to ICICI Securitiesand ICICI Bank of its inten-tion to so do, at least 30(thirty) days in advance andshall obtain written ac-knowledgment of the re-ceipt of the notice from ICICISecurities and ICICI Bank.Such termination shall nothave any effect on the trans-actions executed before thedate of such notice of ter-mination and the partiesshall enjoy the same rightsand shall have the same ob-ligations in respect of suchtransactions.

9. No forbearance, relaxation,failure or delay by ICICI Se-curities or ICICI Bank in ex-ercising any right, power orprivilege hereunder shalloperate as a waiver thereofnor shall any single or par-tial exercise of any otherright, power or privilege.The rights and remediesavailable to ICICI Securities

and ICICI Bank herein pro-vided shall be cumulativeand not exclusive of anyrights or remedies pro-vided by law.

10. Any legal action or proceed-ings arising out of this Let-ter pertaining to dealings instock market shall bebrought in the relevantcourts or tribunals as pro-vided in relevant / con-cerned Stock ExchangeRule, Regulation, byelawsand Circulars. For otherproducts ICICI Securitiesand/or ICICI Bank, in theirabsolute discretion can optto commence the legal ac-tion or proceedings arisingout of these Letter in theappropriate courts, tribu-nals or other appropriateforum, and the Client irrevo-cably submits to the exclu-sive jurisdiction of suchcourts and tribunals.

11. I hereby confirm that detailsas provided by me abovecan be shared by I-Sec withthe concerned Asset Man-agement Companies(AMCs) or such other prod-uct providers, to whomFATCA norms are appli-cable, in whose schemes/products I may invest/trans-act in future through I-Sec.

12. I understand that my signa-ture may be mandatory oncertain online applicationforms. To enable seamlessprocessing of such onlineapplication forms, I autho-

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INSTRUCTIONS

PEP Defination:Politically Exposed Persons (PEP) are defined asindividuals who are or have been entrusted with prominent pub-lic functions in a foreign country, e.g., Heads of States or of Gov-ernments, senior politicians, senior Government/judicial/ militaryofficers, senior executives of state owned corporations, impor-tant political party offi-cials, etc.

BSR Code Occupation Male Female Agri Allied / Farmers 41141 41142 (landholding hill,<=5 acres,>5acres) Business - (Manufacturing, Tading Services , Retailing, Agriculture, Real Estate) 41241 41242 Professional - (Doctor, CA/, Lawyer, Architect, Consultant, Engineer) Housewife, Retired, Student Business (Shroff / Moneylender, Stock Broker , Dealers in Bullion ) 41441 41442 Salaried - Proprietorship, Partnership, Pvt . Ltd, Public Ltd, Public sector, Government, Multinational, Wage salary earners, Others ) 41341 41342

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Who is a US person ?In case of individuals, U.S. Person means a citizen or resident of the United States.Persons who would qualify as US Persons could be Born in the United States, Bornoutside the United States of a US parent, Naturalized citizens, Green Card Holders, Taxresidents.Who is a Reportable Person (non US) under Common Reporting Standards (CRS)?Under Common Reporting Standards (CRS), reportable person means Tax residents ofa reportable foreign jurisdiction other than U.S.[Please note that above information is provided only for quick reference to customers.You are requested to consult a legal/tax advisor if in doubt.]Documents to be collected if Customer’s Country of Birth is US but declares that he/she is not a US Person

- Certificate of relinquishment of citizenship (loss of nationality certificate); OR- Self certification for stating reasons for not having such a certificate despite

relinquishing US citizenship; OR- Self certification for stating reasons for not obtaining US citizenship at birth.

What is a Functional Equivalent of TIN?Many countries do not issue TIN to their Tax payers. However, such countries issue someother high integrity number which an equivalent level of identification. For Example:

- Social Security Number- National Insurance Number- Citizen or Personal Identification code or Number- Resident Registration Number etc.

Providing TIN or a functional equivalent is mandatory for NRIs and foreign nationals andtax residents of foreign countries.