Sub Broker Corporate AOF Part B MANDATORY...

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Sub Broker Corporate AOF Part B

MANDATORY DOCUMENTS

Version 12

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Sr. No Contents Brief Description Page NoMANDATORY DOCUMENTS

1 Rights & Obligations Prescribed by the regulators; lays down the basicrights and obligations of the client and the broker 3-7pertaining to the trading account.

2 DP Agreement Prescribed by the regulator; lays down the basicrights and obligations of the client and the DP to 9-10demat account

3 Risk Disclosure Document Prescribed by the regulators; contains indicativelist of risks involved in trading and also rights and 11-14obligations of investors

4 Policy and Procedures Lists certain policies and procedures of ICICISecurities Limited significant to your trading 15-17account

5 Guidance Note Document detailing do’s and don’ts for tradingon exchange, for the education of the investors. 19-20

NON MANDATORY DOCUMENTS 1 Power of Attorney Confers specific rights on I-Sec to debit / credit /

block / unblock funds and securities in your linked 23-24demat/bank account with respect to yourtransactions

2 Demat Fee Schedule Is applicable in case of opening a new demataccount. The document lists the fees and other 25-26charges pertaining to demat account.

3 Letter of Confirmation and Indicative lists of conditions applicable to theTerms & Conditions Trading account, bank account and demat account 27-69

4 Customer Confirmation Is a confirmation from your side on the stated points 71

INDEX FOR PART B

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RIGHTS AND OBLIGATIONS OF STOCK BROKERS, SUB-BROKERS AND CLIENTSas prescribed by SEBI and Stock Exchanges

Please mention Form No printed on Part A :

Version 12

1. The client shall invest/trade in those securities/contracts/other instruments admitted todealings on the Exchanges as defined in theRules, Byelaws and Regulations of Exchanges/Securities and Exchange Board of India (SEBI)and circulars/notices issued there under fromtime to time.

2. The stock broker, sub-broker and the clientshall be bound by all the Rules, Byelaws andRegulations of the Exchange and circulars/notices issued there under and Rules andRegulations of SEBI and relevant notificationsof Government authorities as may be in forcefrom time to time.

3. The client shall satisfy itself of the capacity ofthe stock broker to deal in securities and/ordeal in derivatives contracts and wishes toexecute its orders through the stock brokerand the client shall from time to time continueto satisfy itself of such capability of the stockbroker before executing orders through thestock broker.

4. The stock broker shall continuously satisfyitself about the genuineness and financialsoundness of the client and investmentobjectives relevant to the services to beprovided.

5. The stock broker shall take steps to make theclient aware of the precise nature of the Stockbroker’s liability for business to be conducted,including any limitations, the liability and thecapacity in which the stock broker acts.

6. The sub-broker shall provide necessaryassistance and co-operate with the stockbroker in all its dealings with the client(s).

CLIENT INFORMATION7. The client shall furnish all such details in full

as are required by the stock broker in “AccountOpening Form” with supporting details, mademandatory by stock exchanges/SEBI fromtime to time.

8. The client shall familiarize himself with all themandatory provisions in the Account Openingdocuments. Any additional clauses ordocuments specified by the stock broker shallbe non-mandatory, as per terms & conditionsaccepted by the client.

9. The client shall immediately notify the stockbroker in writing if there is any change in theinformation in the ‘account opening form’ asprovided at the time of account opening andthereafter; including the information onwinding up petition/insolvency petition or anylitigation which may have material bearing onhis capacity. The client shall provide/update thefinancial information to the stock broker on aperiodic basis.

10. The stock broker and sub-broker shall maintainall the details of the client as mentioned in theaccount opening form or any other informationpertaining to the client, confidentially and thatthey shall not disclose the same to any person/authority except as required under any law/regulatory requirements. Provided howeverthat the stock broker may so discloseinformation about his client to any person orauthority with the express permission of theclient.

MARGINS11. The client shall pay applicable initial margins,

withholding margins, special margins or suchother margins as are considered necessary bythe stock broker or the Exchange or as may bedirected by SEBI from time to time asapplicable to the segment(s) in which the clienttrades. The stock broker is permitted in its soleand absolute discretion to collect additionalmargins (even though not required by theExchange, Clearing House/ClearingCorporation or SEBI) and the client shall beobliged to pay such margins within thestipulated time.

12. The client understands that payment ofmargins by the client does not necessarilyimply complete satisfaction of all dues. In spiteof consistently having paid margins, the clientmay, on the settlement of its trade, be obligedto pay (or entitled to receive) such further sumsas the contract may dictate/require.

TRANSACTIONS AND SETTLEMENTS13. The client shall give any order for buy or sell

of a security/derivatives contract in writing orin such form or manner, as may be mutuallyagreed between the client and the stock broker.The stock broker shall ensure to place ordersand execute the trades of the client, only in

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the Unique Client Code assigned to that client.

14. The stock broker shall inform the client andkeep him apprised about trading/settlementcycles, delivery/payment schedules, anychanges therein from time to time, and it shallbe the responsibility in turn of the client tocomply with such schedules/procedures of therelevant stock exchange where the trade isexecuted.

15. The stock broker shall ensure that the money/securities deposited by the client shall be keptin a separate account, distinct from his/its ownaccount or account of any other client and shallnot be used by the stock broker for himself/itself or for any other client or for any purposeother than the purposes mentioned in Rules,Regulations, circulars, notices, guidelines ofSEBI and/or Rules, Regulations, Bye-laws,circulars and notices of Exchange.

16. Where the Exchange(s) cancels trade(s) suomoto all such trades including the trade/s doneon behalf of the client shall ipso facto standcancelled, stock broker shall be entitled tocancel the respective contract(s) with client(s).

17. The transactions executed on the Exchangeare subject to Rules, Byelaws and Regulationsand circulars/notices issued thereunder of theExchanges where the trade is executed andall parties to such trade shall have submittedto the jurisdiction of such court as may bespecified by the Byelaws and Regulations ofthe Exchanges where the trade is executed forthe purpose of giving effect to the provisionsof the Rules, Byelaws and Regulations of theExchanges and the circulars/notices issuedthereunder.

BROKERAGE18. The Client shall pay to the stock broker

brokerage and statutory levies as areprevailing from time to time and as they applyto the Client’s account, transactions and to theservices that stock broker renders to the Client.The stock broker shall not charge brokeragemore than the maximum brokeragepermissible as per the rules, regulations andbye-laws of the relevant stock exchanges and/or rules and regulations of SEBI.

LIQUIDATION AND CLOSE OUT OF POSITION19. Without prejudice to the stock broker’s other

rights (including the right to refer a matter toarbitration), the client understands that thestock broker shall be entitled to liquidate/closeout all or any of the client’s positions for non-payment of margins or other amounts,outstanding debts, etc. and adjust theproceeds of such liquidation/close out, if any,

against the client’s liabilities/obligations. Anyand all losses and financial charges on accountof such liquidation/closing-out shall be chargedto and borne by the client.

20. In the event of death or insolvency of the clientor his/its otherwise becoming incapable ofreceiving and paying for or delivering ortransferring securities which the client hasordered to be bought or sold, stock broker mayclose out the transaction of the client and claimlosses, if any, against the estate of the client.The client or his nominees, successors, heirsand assignee shall be entitled to any surpluswhich may result there from. The client shallnote that transfer of funds/securities in favorof a Nominee shall be valid discharge by thestock broker against the legal heir.

21. The stock broker shall bring to the notice ofthe relevant Exchange the information aboutdefault in payment/delivery and related aspectsby a client. In case where defaulting client is acorporate entity/partnership/proprietary firm orany other artificial legal entity, then the name(s)of Director(s)/Promoter(s)/Partner(s)/Proprietoras the case may be, shall also becommunicated by the stock broker to therelevant Exchange(s).

DISPUTE RESOLUTION22. The stock broker shall provide the client with

the relevant contact details of the concernedExchanges and SEBI.

23. The stock broker shall co-operate in redressinggrievances of the client in respect of alltransactions routed through it and in removingobjections for bad delivery of shares,rectification of bad delivery, etc.

24. The client and the stock broker shall refer anyclaims and/or disputes with respect to deposits,margin money, etc., to arbitration as per theRules, Byelaws and Regulations of theExchanges where the trade is executed andcirculars/notices issued thereunder as may bein force from time to time.

25. The stock broker shall ensure faster settlementof any arbitration proceedings arising out ofthe transactions entered into between him vis-à-vis the client and he shall be liable toimplement the arbitration awards made in suchproceedings.

26. The client/stock-broker understands that theinstructions issued by an authorizedrepresentative for dispute resolution, if any, ofthe client/stock-broker shall be binding on theclient/stock-broker in accordance with the letterauthorizing the said representative to deal on

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behalf of the said client/stock-broker.

TERMINATION OF RELATIONSHIP27. This relationship between the stock broker and

the client shall be terminated; if the stockbroker for any reason ceases to be a memberof the stock exchange including cessation ofmembership by reason of the stock broker’sdefault, death, resignation or expulsion or ifthe certificate is cancelled by the Board.

28. The stock broker, sub-broker and the clientshall be entitled to terminate the relationshipbetween them without giving any reasons tothe other party, after giving notice in writingof not less than one month to the other parties.Notwithstanding any such termination, allrights, liabilities and obligations of the partiesarising out of or in respect of transactionsentered into prior to the termination of thisrelationship shall continue to subsist and vestin/be binding on the respective parties or his/its respective heirs, executors, administrators,legal representatives or successors, as thecase may be.

29. In the event of demise/insolvency of the sub-broker or the cancellation of his/its registrationwith the Board or/withdrawal of recognitionof the sub-broker by the stock exchange and/or termination of the agreement with the subbroker by the stock broker, for any reasonwhatsoever, the client shall be informed ofsuch termination and the client shall bedeemed to be the direct client of the stockbroker and all clauses in the ‘Rights andObligations’ document(s) governing the stockbroker, sub-broker and client shall continue tobe in force as it is, unless the client intimatesto the stock broker his/its intention to terminatetheir relationship by giving a notice in writingof not less than one month.

ADDITIONAL RIGHTS AND OBLIGATIONS30. The stock broker shall ensure due protection

to the client regarding client’s rights todividends, rights or bonus shares, etc. inrespect of transactions routed through it andit shall not do anything which is likely to harmthe interest of the client with whom and forwhom they may have had transactions insecurities.

31. The stock broker and client shall reconcile andsettle their accounts from time to time as perthe Rules, Regulations, Bye Laws, Circulars,Notices and Guidelines issued by SEBI and therelevant Exchanges where the trade isexecuted.

32. The stock broker shall issue a contract note tohis constituents for trades executed in suchformat as may be prescribed by the Exchange

from time to time containing records of alltransactions including details of order number,trade number, trade time, trade price, tradequantity, details of the derivatives contract,client code, brokerage, all charges levied etc.and with all other relevant details as requiredtherein to be filled in and issued in such mannerand within such time as prescribed by theExchange. The stock broker shall send contractnotes to the investors within one working dayof the execution of the trades in hard copy and/or in electronic form using digital signature.

33. The stock broker shall make pay out of fundsor delivery of securities, as the case may be, tothe Client within one working day of receipt ofthe payout from the relevant Exchange wherethe trade is executed unless otherwise specifiedby the client and subject to such terms andconditions as may be prescribed by the relevantExchange from time to time where the trade isexecuted.

34. The stock broker shall send a complete‘Statement of Accounts’ for both funds andsecurities in respect of each of its clients in suchperiodicity and format within such time, as maybe prescribed by the relevant Exchange, fromtime to time, where the trade is executed. TheStatement shall also state that the client shallreport errors, if any, in the Statement withinsuch time as may be prescribed by the relevantExchange from time to time where the tradewas executed, from the receipt thereof to theStock broker.

35. The stock broker shall send daily marginstatements to the clients. Daily Marginstatement should include, inter-alia, details ofcollateral deposited, collateral utilized andcollateral status (available balance/due fromclient) with break up in terms of cash, FixedDeposit Receipts (FDRs), Bank Guarantee andsecurities.

36. The Client shall ensure that it has the requiredlegal capacity to, and is authorized to, enter intothe relationship with stock broker and is capableof performing his obligations and undertakingshereunder. All actions required to be taken toensure compliance of all the transactions,which the Client may enter into shall becompleted by the Client prior to suchtransaction being entered into.

ELECTRONIC CONTRACT NOTES (ECN)37. In case, client opts to receive the contract note

in electronic form, he shall provide anappropriate e-mail id to the stock broker. Theclient shall communicate to the stock brokerany change in the email-id through a physicalletter. If the client has opted for internet trading,the request for change of email id may be made

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through the secured access by way of clientspecific user id and password.

38. The stock broker shall ensure that all ECNssent through the e-mail shall be digitallysigned, encrypted, non-tamper able and incompliance with the provisions of the IT Act,2000. In case, ECN is sent through e-mail asan attachment, the attached file shall also besecured with the digital signature, encryptedand non-tamperable.

39. The client shall note that non-receipt ofbounced mail notification by the stock brokershall amount to delivery of the contract noteat the e-mail ID of the client.

40. The stock broker shall retain ECN andacknowledgement of the e-mail in a soft andnon-tamperable form in the mannerprescribed by the exchange in compliancewith the provisions of the IT Act, 2000 and asper the extant rules/regulations/circulars/guidelines issued by SEBI/Stock Exchangesfrom time to time. The proof of delivery i.e.,log report generated by the system at the timeof sending the contract notes shall bemaintained by the stock broker for thespecified period under the extant regulationsof SEBI/stock exchanges. The log report shallprovide the details of the contract notes thatare not delivered to the client/e-mails rejectedor bounced back. The stock broker shall takeall possible steps to ensure receipt ofnotification of bounced mails by him at alltimes within the stipulated time period underthe extant regulations of SEBI/stockexchanges.

41. The stock broker shall continue to sendcontract notes in the physical mode to suchclients who do not opt to receive the contractnotes in the electronic form. Wherever theECNs have not been delivered to the client orhas been rejected (bouncing of mails) by thee-mail ID of the client, the stock broker shallsend a physical contract note to the clientwithin the stipulated time under the extantregulations of SEBI/stock exchanges andmaintain the proof of delivery of such physicalcontract notes.

42. In addition to the e-mail communication of theECNs to the client, the stock broker shallsimultaneously publish the ECN on hisdesignated web-site, if any, in a secured wayand enable relevant access to the clients andfor this purpose, shall allot a unique user nameand password to the client, with an option tothe client to save the contract note

electronically and/or take a print out of thesame.

LAW AND JURISDICTION43. In addition to the specific rights set out in this

document, the stock broker, sub-broker and theclient shall be entitled to exercise any otherrights which the stock broker or the client mayhave under the Rules, Bye-laws andRegulations of the Exchanges in which theclient chooses to trade and circulars/noticesissued thereunder or Rules and Regulations ofSEBI.

44. The provisions of this document shall alwaysbe subject to Government notifications, anyrules, regulations, guidelines and circulars/notices issued by SEBI and Rules, Regulationsand Bye laws of the relevant stock exchanges,where the trade is executed, that may be inforce from time to time.

45. The stock broker and the client shall abide byany award passed by the Arbitrator(s) underthe Arbitration and Conciliation Act, 1996.However, there is also a provision of appealwithin the stock exchanges, if either party isnot satisfied with the arbitration award.

46. Words and expressions which are used in thisdocument but which are not defined hereinshall, unless the context otherwise requires,have the same meaning as assigned thereto inthe Rules, Byelaws and Regulations andcirculars/notices issued thereunder of theExchanges/SEBI.

47. All additional voluntary clauses/documentadded by the stock broker should not be incontravention with rules/regulations/notices/circulars of Exchanges/SEBI. Any changes insuch voluntary clauses/document(s) need to bepreceded by a notice of 15 days. Any changesin the rights and obligations which are specifiedby Exchanges/SEBI shall also be brought to thenotice of the clients.

48. If the rights and obligations of the parties heretoare altered by virtue of change in Rules andregulations of SEBI or Bye-laws, Rules andRegulations of the relevant stock Exchangeswhere the trade is executed, such changes shallbe deemed to have been incorporated hereinin modification of the rights and obligations ofthe parties mentioned in this document.

INTERNET & WIRELESS TECHNOLOGYBASED TRADING FACILITY PROVIDED BYSTOCK BROKERS TO CLIENT(All the clauses mentioned in the ‘Rights and

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Obligations’ document(s) shall be applicable.Additionally, the clauses mentioned hereinshall also be applicable.)

1. Stock broker is eligible for providing Internetbased trading (IBT) and securities tradingthrough the use of wireless technology thatshall include the use of devices such as mobilephone, laptop with data card, etc. which useInternet Protocol (IP). The stock broker shallcomply with all requirements applicable tointernet based trading/securities trading usingwireless technology as may be specified bySEBI & the Exchanges from time to time.

2. The client is desirous of investing/trading insecurities and for this purpose, the client isdesirous of using either the internet basedtrading facility or the facility for securitiestrading through use of wireless technology.The Stock broker shall provide the Stockbroker’s IBT Service to the Client, and theClient shall avail of the Stock broker’s IBTService, on and subject to SEBI/ExchangesProvisions and the terms and conditionsspecified on the Stock broker’s IBT Web Siteprovided that they are in line with the normsprescribed by Exchanges/SEBI.

3. The stock broker shall bring to the notice ofclient the features, risks, responsibilities,obligations and liabilities associated withsecurities trading through wirelesstechnology/internet/smart order routing orany other technology should be brought tothe notice of the client by the stock broker.

4. The stock broker shall make the client awarethat the Stock Broker’s IBT system itselfgenerates the initial password and itspassword policy as stipulated in line withnorms prescribed by Exchanges/SEBI.

5. The Client shall be responsible for keeping theUsername and Password confidential andsecure and shall be solely responsible for allorders entered and transactions done by anyperson whosoever through the Stock broker’sIBT System using the Client’s Username and/or Password whether or not such person wasauthorized to do so. Also the client is awarethat authentication technologies and strictsecurity measures are required for the internet

trading/securities trading through wirelesstechnology through order routed system andundertakes to ensure that the password of theclient and/or his authorized representative arenot revealed to any third party includingemployees and dealers of the stock broker

6. The Client shall immediately notify the Stockbroker in writing if he forgets his password,discovers security flaw in Stock Broker’s IBTSystem, discovers/suspects discrepancies/unauthorized access through his username/password/account with full details of suchunauthorized use, the date, the manner and thetransactions effected pursuant to suchunauthorized use, etc.

7. The Client is fully aware of and understandsthe risks associated with availing of a servicefor routing orders over the internet/securitiestrading through wireless technology and Clientshall be fully liable and responsible for any andall acts done in the Client’s Username/password in any manner whatsoever.

8. The stock broker shall send the order/tradeconfirmation through email to the client at hisrequest. The client is aware that the order/ tradeconfirmation is also provided on the webportal. In case client is trading using wirelesstechnology, the stock broker shall send theorder/trade confirmation on the device of theclient.

9. The client is aware that trading over the internetinvolves many uncertain factors and complexhardware, software, systems, communicationlines, peripherals, etc. are susceptible tointerruptions and dislocations. The Stockbroker and the Exchange do not make anyrepresentation or warranty that the Stockbroker’s IBT Service will be available to theClient at all times without any interruption.

10. The Client shall not have any claim against theExchange or the Stock broker on account ofany suspension, interruption, non-availabilityor malfunctioning of the Stock broker’s IBTSystem or Service or the Exchange’s serviceor systems or non-execution of his orders dueto any link/system failure at the Client/Stockbrokers/Exchange end for any reason beyondthe control of the stock broker/Exchanges.

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This document is mandatory as per the National Securities Depositories Limited requirements.

AGREEMENT BETWEEN THE DEPOSITORY PARTICIPANT AND THE PERSON SEEKING TO OPEN ANACCOUNT WITH THEDEPOSITORY PARTICIPANT

This agreement made and entered into this _______________________________________ day of___________________________________________ between,_______________________________________________

having with registered office at _________________________________________________________________

___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

(hereinafter called "the client") and ICICI BANK LIMITED, a company incorporated under the CompaniesAct, 1956 and licensed as a bank under the Banking Regulation Act, 1949 and having its registered office atLandmark, Race Course Circle, Vadodara 390 007, and its corporate office at ICICI Bank Towers, BandraKurla Complex, Mumbai 400 051, India. (hereinafter called "the Depository Participant").

WitnessethWHEREAS the Client has furnished to the Depository Participant the duly filled in application formrequesting therein to open an account with the Depository Participant.NOW THEREFORE in consideration of the Depository Participant having agreed to open an accountfor the Client, both the parties to the agreement hereby covenant and agree as follows:

on behalf of the Client.

4.The Depository Participant undertakes that atransfer to and from the accounts of the Clientshall be made only on the basis of an order,instruction, direction or mandate duly authorisedby the Client and that the Depository Participantshall maintain adequate audit trail of suchauthorization.

5.The Depository Participant agrees that the Clientmay give standing instructions with regard to thecrediting of securities in his account and theDepository Participant shall act according to suchinstructions.

6.The Depository Participant undertakes toprovide a statement of accounts includingtransaction statement and holdings statementto the Client at monthly intervals and to theClients opting for Basic Services Demat Accountat quarterly intervals unless the DepositoryParticipant and the Client have agreed forprovision of such statements at shorterintervals. However, if there is no transaction inthe account, then the Depository Participantshall provide such statement to the Client onan annual basis.

1.The Client shall pay such charges to theDepository Participant for the purpose of openingand maintaining his account, for carrying out theinstructions of the Client and for rendering suchother services as may be agreed to from time totime between the Depository Participant and theClient as set out in Schedule of DP charges(elsewhere referred to as DP charges). TheDepository Participant shall reserve the right torevise the charges by giving not less than thirtydays notice in writing to the Client.

2.The Client shall have the right to get the securitieswhich have been admitted on the Depositorydematerialised in the form and manner laid downunder the Bye-Laws and Business Rules. TheDepository Participant further undertakes that itshall not create or permit to subsist anymortgage, charge or other encumbrance over allor any such securities submitted fordematerialisation except on the instructions ofthe Client.

3.The Depository Participant hereby undertakesthat it shall maintain a separate account of its ownsecurities held in dematerialised form with theDepository and shall not co-mingle the samewith the securities held in dematerialised form

Principal Authorised Signatory

1

Other Authorised Signatory 1 Other Authorised Signatory 2 For and on behalf of ICICI Bank Ltd.

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Signed & Delivered by the Client (s):

X X X Principal Authorised Signatory Other Authorised Signatory 1 Other Authorised Signatory 2

Place: Date: (City) (State)

XWitness Name Witness Signature

For and on behalf of ICICI Bank Limited

(Name) (Signature)

Place: Date: (City) (State)

XWitness Name Witness Signature

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7.The Depository Participant shall have the rightto terminate this agreement, for any reasonswhatsoever, provided the Depository Participanthas given a notice in writing of not less than thirtydays to the Client as well as to the Depository.Similarly, the Client shall have the right to terminatethis agreement and close his account held withthe Depository participant, provided no chargesare payable by him to the Depository Participant.In such an event, the Client shall specify whetherthe balances in its account should be transferredto another account of the Client held with anotherDepository Participant or to rematerialise thesecurity balances held. Based on the instructionsof the Client, the Depository Participant shallinitiate the procedure for transferring such securitybalances or rematerialise such security balanceswithin a period of thirty days as per the procedurelaid down in the Bye Laws and Business Rules.Provided further, termination of this agreementshall not affect the rights, liabilities and obligationsof either party and shall continue to bind the partiesto their satisfactory completion.

8.On the failure of the Client to pay the charges aslaid out in clause (1) of this agreement within aperiod of thirty days from the date of demandDepository Participant may terminate thisagreement and close the account of the Client byrequiring it to specify whether the balances in itsaccount be transferred to the account of the clientheld with another participant or be rematerialisedin the manner specified in the Bye Laws andBusiness Rules.

9.The Client further agrees that in the event of theClient committing a default in the payment of anyof the amounts provided in clause (1) within aperiod of thirty days from the date of demand,without prejudice to the right of the DepositoryParticipant to close the account of the Client, theDepository Participant may charge interest @ notmore than 24% p.a. or such other rate as may bespecified by the Executive Committee from timeto time for the period of such default. In case theClient has failed to make the payment of any ofthe amounts as provided in clause (1) of thisagreement, the Depository Participant shall havethe right to stop processing of instructions of theclient till such time he makes the payment alongwith interest, if any, after giving two days’ noticeto the Client.

10.The Depository Participant shall have a right toprovide such information related to the Client'saccount as may be requested by the Depositoryfrom time to time.

11.The Client shall have the right to create a pledgeof the securities held in the dematerialised formwith the Depository Participant only in accordancewith the procedure and subject to the restrictionslaid down under the Bye Laws and Business Rules.

12.The Depository shall not be liable to the Clientin any manner towards losses, liabilities and

expenses arising from the claims of third partiesand from taxes and other governmental chargesin respect of securities credited to the Client'saccount.

13.The Client may excercise the right to freeze hisaccount maintained with the Depository Participantso as to lock the securities held with the DepositoryParticipant in accordance with the procedureprescribed in the Bye Laws and Business Rules.

14.The Client may excercise the right to defreezehis account maintained with the DepositoryParticipant in accordance with the procedure andsubject to the restrictions laid down under the ByeLaws and Business Rules.

15.The Client shall notify the Depository Participant,within seven days, of any change in the details setout in the application form submitted to theDepository Participant at the time of opening theaccount or furnished to the Depository Participantfrom time to time.

16.The Depository Participant undertakes to resolveall legitimate grievances of the Client against theDepository Participant within a period of Thirtydays.

17.The Depository Participant and the Client shallabide by the arbitration and conciliation procedureprescribed under the Bye Laws of the Depositoryand that such procedure shall be applicable to anydisputes between the Depository Participant andthe Client.

18. Notwithstanding anything contained herein orin the Bye Laws or Business Rules, neither partyhereto shall be liable to indemnify or compensatethe other for any breach, non-performance ordelay in performance of any obligations underthe Agreement or for any harm, loss, damage orinjury caused to the other due to causesreasonably beyond its control including but notlimited to tide, storm, cyclone, flood, lightning,earthquake, fire, blast, explosion or any other actof God, war, rebellion, revolution, insurrection,embargo or sanction, blockade, riot, civilcommotion, labour action or unrest includingstrike, lock-out or boycott, interruption or failureof any utility service, enemy action, criminalconspiracy, act of terrorism or vandalism,sabotage, or intrusion, or any other irresistibleforce or compulsion.

19.The Depository Participant and the Client furtheragree that all claims, differences and disputes,arising out of or in relation to dealings on theDepository including any transactions madesubject to the Bye-Laws or Business Rules of theDepository or with reference to anythingincidental thereto or in pursuance thereof orrelating to their validity, construction,interpretation, fulfilment or the rights, obligationsand liabilities of the parties thereto and includingany question of whether such dealings,transactions have been entered into or not, shallbe subject to the exclusive jurisdiction of the courtsat Mumbai only.

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RISK DISCLOSURE DOCUMENT FOR CAPITAL MARKET AND DERIVATIVES SEGMENTS

This document contains importantinformation on trading in Equities/DerivativesSegments of the stock exchanges. Allprospective constituents should read thisdocument before trading in Equities/Derivatives Segments of the Exchanges.

Stock exchanges/SEBI does neither singly orjointly and expressly nor impliedly guaranteenor make any representation concerning thecompleteness, the adequacy or accuracy ofthis disclosure document nor have Stockexchanges /SEBI endorsed or passed anymerits of participating in the trading segments.This brief statement does not disclose all therisks and other significant aspects of trading.

In the light of the risks involved, you shouldundertake transactions only if you understandthe nature of the relationship into which youare entering and the extent of your exposureto risk.

You must know and appreciate that trading inEquity shares, derivatives contracts or otherinstruments traded on the Stock Exchange,which have varying element of risk, isgenerally not an appropriate avenue forsomeone of limited resources/limitedinvestment and/or trading experience and lowrisk tolerance. You should therefore carefullyconsider whether such trading is suitable foryou in the light of your financial condition. Incase you trade on Stock exchanges and sufferadverse consequences or loss, you shall besolely responsible for the same and Stockexchanges/its Clearing Corporation and/orSEBI shall not be responsible, in any mannerwhatsoever, for the same and it will not beopen for you to take a plea that no adequatedisclosure regarding the risks involved wasmade or that you were not explained the fullrisk involved by the concerned stock broker.The constituent shall be solely responsible forthe consequences and no contract can berescinded on that account. You mustacknowledge and accept that there can be noguarantee of profits or no exception fromlosses while executing orders for purchaseand/or sale of a derivative contract beingtraded on Stock exchanges.

It must be clearly understood by you that yourdealings on Stock exchanges through a stockbroker shall be subject to your fulfilling certainformalities set out by the stock broker, which

may inter alia include your filling the know yourclient form, reading the rights and obligations,do’s and don’ts, etc., and are subject to theRules, Byelaws and Regulations of relevantStock exchanges, its Clearing Corporation,guidelines prescribed by SEBI and in force fromtime to time and Circulars as may be issued byStock exchanges or its Clearing Corporationand in force from time to time.

Stock exchanges does not provide or purportto provide any advice and shall not be liable toany person who enters into any businessrelationship with any stock broker of Stockexchanges and/or any third party based on anyinformation contained in this document. Anyinformation contained in this document mustnot be construed as business advice. Noconsideration to trade should be made withoutthoroughly understanding and reviewing therisks involved in such trading. If you are unsure,you must seek professional advice on thesame.

In considering whether to trade or authorizesomeone to trade for you, you should be awareof or must get acquainted with the following:-

1. BASIC RISKS:1.1 Risk of Higher Volatility:

Volatility refers to the dynamic changes in pricethat a security/derivatives contract undergoeswhen trading activity continues on the StockExchanges. Generally, higher the volatility of asecurity/derivatives contract, greater is its priceswings. There may be normally greatervolatility in thinly traded securities / derivativescontracts than in active securities /derivativescontracts. As a result of volatility, your ordermay only be partially executed or not executedat all, or the price at which your order gotexecuted may be substantially different fromthe last traded price or change substantiallythereafter, resulting in notional or real losses.

1.2 Risk of Lower Liquidity:Liquidity refers to the ability of marketparticipants to buy and/or sell securities /derivatives contracts expeditiously at acompetitive price and with minimal pricedifference. Generally, it is assumed that morethe numbers of orders available in a market,greater is the liquidity. Liquidity is importantbecause with greater liquidity, it is easier forinvestors to buy and/or sell securities /derivatives contracts swiftly and with minimal

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price difference, and as a result, investors are morelikely to pay or receive a competitive price forsecurities / derivatives contracts purchased orsold. There may be a risk of lower liquidity insome securities / derivatives contracts ascompared to active securities / derivativescontracts. As a result, your order may onlybe partially executed, or may be executed withrelatively greater price difference or may notbe executed at all.

1.2.1 Buying or selling securities / derivativescontracts as part of a day trading strategy mayalso result into losses, because in such asituation, securities / derivatives contractsmay have to be sold / purchased at low / highprices, compared to the expected price levels,so as not to have any open position orobligation to deliver or receive a security /derivatives contract.

1.3 Risk of Wider Spreads:Spread refers to the difference in best buyprice and best sell price. It represents thedifferential between the price of buying asecurity / derivatives contract and immediatelyselling it or vice versa. Lower liquidity andhigher volatility may result in wider thannormal spreads for less liquid or illiquidsecurities / derivatives contracts. This in turnwill hamper better price formation.

1.4 Risk-reducing orders:The placing of orders (e.g., “stop loss” orders, or

“limit” orders) which are intended to limitlosses to certain amounts may not be effectivemany a time because rapid movement inmarket conditions may make it impossible toexecute such orders.

1.4.1 A “market” order will be executed promptly,subject to availability of orders on oppositeside, without regard to price and that, whilethe customer may receive a prompt executionof a “market” order, the execution may be atavailable prices of outstanding orders, whichsatisfy the order quantity, on price timepriority. It may be understood that these pricesmay be significantly different from the lasttraded price or the best price in that security /derivatives contract.

1.4.2 A “limit” order will be executed only at the“limit” price specified for the order or a betterprice. However, while the customer receivesprice protection, there is a possibility that theorder may not be executed at all.

1.4.3 A stop loss order is generally placed “away”from the current price of a stock / derivativescontract, and such order gets activated if andwhen the security / derivatives contractreaches, or trades through, the stop price. Sellstop orders are entered ordinarily below thecurrent price, and buy stop orders are enteredordinarily above the current price. When thesecurity / derivatives contract reaches the pre-determined price, or trades through suchprice, the stop loss order converts to a market/limit order and is executed at the limit or better.There is no assurance therefore that the limitorder will be executable since a security /derivatives contract might penetrate the pre-determined price, in which case, the risk ofsuch order not getting executed arises, just aswith a regular limit order.

1.5 Risk of News Announcements:News announcements that may impact theprice of stock / derivatives contract may occurduring trading, and when combined with lowerliquidity and higher volatility, may suddenlycause an unexpected positive or negativemovement in the price of the security / contract.

1.6 Risk of Rumors:Rumors about companies / currencies at timesfloat in the market through word of mouth,newspapers, websites or news agencies, etc.The investors should be wary of and shoulddesist from acting on rumors.

1.7 System Risk:High volume trading will frequently occur atthe market opening and before market close.Such high volumes may also occur at any pointin the day. These may cause delays in orderexecution or confirmation.

1.7.1 During periods of volatility, on account ofmarket participants continuously modifyingtheir order quantity or prices or placing freshorders, there may be delays in order executionand its confirmations.

1.7.2 Under certain market conditions, it may bedifficult or impossible to liquidate a position inthe market at a reasonable price or at all, whenthere are no outstanding orders either on thebuy side or the sell side, or if trading is haltedin a security / derivatives contract due to anyaction on account of unusual trading activityor security / derivatives contract hitting circuitfilters or for any other reason.

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1.8 System/Network Congestion:Trading on exchanges is in electronic mode,based on satellite/leased line basedcommunications, combination oftechnologies and computer systems to placeand route orders. Thus, there exists apossibility of communication failure or systemproblems or slow or delayed response fromsystem or trading halt, or any such otherproblem/glitch whereby not being able toestablish access to the trading system/network, which may be beyond control andmay result in delay in processing or notprocessing buy or sell orders either in part orin full. You are cautioned to note that althoughthese problems may be temporary in nature,but when you have outstanding openpositions or unexecuted orders, theserepresent a risk because of your obligationsto settle all executed transactions.

2. As far as Derivatives segments areconcerned, please note and get yourselfacquainted with the following additionalfeatures:-

2.1 Effect of “Leverage” or “Gearing”:In the derivatives market, the amount ofmargin is small relative to the value of thederivatives contract so the transactions are‘leveraged’ or ‘geared’. Derivatives trading,which is conducted with a relatively smallamount of margin, provides the possibility ofgreat profit or loss in comparison with themargin amount. But transactions in derivativescarry a high degree of risk.You should therefore completely understandthe following statements before actuallytrading in derivatives and also trade withcaution while taking into account one’scircumstances, financial resources, etc. If theprices move against you, you may lose a partof or whole margin amount in a relatively shortperiod of time. Moreover, the loss may exceedthe original margin amount.

A. Futures trading involve daily settlement of allpositions. Every day the open positions aremarked to market based on the closing levelof the index / derivatives contract. If thecontract has moved against you, you will berequired to deposit the amount of loss(notional) resulting from such movement. Thisamount will have to be paid within a stipulatedtime frame, generally before commencementof trading on next day.

B. If you fail to deposit the additional amount bythe deadline or if an outstanding debt occursin your account, the stock broker may liquidate

a part of or the whole position or substitutesecurities. In this case, you will be liable forany losses incurred due to such close-outs.

C. Under certain market conditions, an investormay find it difficult or impossible to executetransactions. For example, this situation canoccur due to factors such as illiquidity i.e. whenthere are insufficient bids or offers orsuspension of trading due to price limit orcircuit breakers etc.

D. In order to maintain market stability, thefollowing steps may be adopted: changes inthe margin rate, increases in the cash marginrate or others. These new measures may alsobe applied to the existing open interests. Insuch conditions, you will be required to put upadditional margins or reduce your positions.

E. You must ask your broker to provide the fulldetails of derivatives contracts you plan to tradei.e. the contract specifications and theassociated obligations.

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

currency-denominated contracts, whether theyare traded in your own or another jurisdiction,will be affected by fluctuations in currency rateswhere there is a need to convert from thecurrency denomination of the contract toanother currency.

2. Under certain market conditions, you may findit difficult or impossible to liquidate a position.This can occur, for example when a currencyis deregulated or fixed trading bands arewidened.

3. Currency prices are highly volatile. Pricemovements for currencies are influenced by,among other things: changing supply-demandrelationships; trade, fiscal, monetary, exchangecontrol programs and policies of governments;foreign political and economic events andpolicies; changes in national and internationalinterest rates and inflation; currencydevaluation; and sentiment of the market place.None of these factors can be controlled by anyindividual advisor and no assurance can begiven that an advisor’s advice will result inprofitable trades for a participating customeror that a customer will not incur losses fromsuch events.

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

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entire amount paid for the option in a relativelyshort period of time. This risk reflects thenature of an option as a wasting asset whichbecomes worthless when it expires. An optionholder who neither sells his option in thesecondary market nor exercises it prior to itsexpiration will necessarily lose his entireinvestment in the option. If the price of theunderlying does not change in the anticipateddirection before the option expires, to anextent sufficient to cover the cost of theoption, the investor may lose all or asignificant part of his investment in the option.

2. The Exchanges may impose exerciserestrictions and have absolute authority torestrict the exercise of options at certain timesin specified circumstances.

2.4 Risks of Option Writers:1. If the price movement of the underlying is not

in the anticipated direction, the option writerruns the risks of losing substantial amount.

2. The risk of being an option writer may bereduced by the purchase of other options onthe same underlying interest and therebyassuming a spread position or by acquiringother types of hedging positions in the optionsmarkets or other markets. However, evenwhere the writer has assumed a spread orother hedging position, the risks may still besignificant. A spread position is not necessarilyless risky than a simple ‘long’ or ‘short’position.

3. Transactions that involve buying and writingmultiple options in combination, or buying orwriting options in combination with buying orselling short the underlying interests, present

additional risks to investors. Combinationtransactions, such as option spreads, are morecomplex than buying or writing a single option.And it should be further noted that, as in anyarea of investing, a complexity not wellunderstood is, in itself, a risk factor. While thisis not to suggest that combination strategiesshould not be considered, it is advisable, as isthe case with all investments in options, toconsult with someone who is experienced andknowledgeable with respect to the risks andpotential rewards of combination transactionsunder various market circumstances.

3. TRADING THROUGH WIRELESSTECHNOLOGY/ SMART ORDER ROUTING ORANY OTHER TECHNOLOGY:Any additional provisions defining the features,risks, responsibilities, obligations and liabilitiesassociated with securities trading throughwireless technology/ smart order routing or anyother technology should be brought to thenotice of the client by the stock broker.

4. GENERAL4.1 The term ‘constituent’ shall mean and include

a client, a customer or an investor, who dealswith a stock broker for the purpose of acquiringand/or selling of securities / derivativescontracts through the mechanism provided bythe Exchanges.

4.2 The term ‘stock broker’ shall mean and includea stock broker, a broker or a stock broker, whohas been admitted as such by the Exchangesand who holds a registration certificate fromSEBI.

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POLICIES AND PROCEDURES PERTAINING TO DEALING WITH CLIENTS

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

ICICI Securities Ltd (hereinafter referred as I-Sec) normally offer trading facility in most of the compul-sory dematerialized stocks which are listed of on the stock exchanges. The stocks offered by I-Sec areduly updated on www.icicidirect.com (hereinafter referred as website). Please note that some of thestocks such as

· penny stocks which is generally understood to be stocks quoted below Rs 10/-. I-sec 6treserves the right to charge 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 existing scrip enabled for trading may be deactivated by I-Sec as and whensuch scrips meet the criteria as defined by I-Sec even if the Client had bought such scripsthrough I-Sec thereby restricting the Client’s ability to sell the scrip. Being a penny stock isnot a criteria for enabling / disabling, though the same may be considered. I-Sec cannotbe held responsible for any losses, if any, arising due to deactivation of the scrip. Clientsmay contact our customer service helpline for enabling the specific stocks in which trad-ing is not allowed by I-Sec. However, I-Sec may not enable all such stocks which arerequested by the clients if the same are not meeting the internal criteria as defined by theCompany from time to time. Further, I-Sec may also at any time, at its sole discretion andwithout prior notice to the client, prohibit or restrict client’s access to the use of the web-site or related services or in any specific security and client’s ability to trade.

B. Client Exposure Limits

From time to time I-Sec may impose and vary limits on the orders placed by client or orders to be placedby client, including client ad hoc margin , security ad hoc margin, exposure limits, turnover limits, limitsas to numbers etc. I-Sec may demand additional margin in the form of cash, securities if there arerequirement for margin top up. This additional margin would be in addition to the initial margin, whichmay be higher than margin prescribed by the Exchange.

C. Squaring off / Closing client open positions and sell out of client securities without notice

I-Sec shall have the discretion to square off the open positions of client in following circumstances.Square off / close out the client open positions may happen at any of the exchanges and it can happenat either market price or limit price. I-Sec reserves the right to decide the limit price keeping in view ofthe size of the order and the depth of the market. Specific features of each and every product areupdated on the Frequently Asked Questions and also in Terms and Conditions which is updated on thewebsite of the Company. Clients are bound by such online terms and conditions and the FAQs posted onthe website. The conditions related to squaring off/close out of the clients’ open positions and alsoliquidation in Cash Equity, Equity Derivative and Currency Derivative segments are broadly included as:

1 I-Sec offers intra day products Margin and Margin Plus in Equity segment and Future Plus in De-rivatives segment. If the client does not square off his open positions before the EOS (end ofsettlement) time (as updated on our website) or the client does not convert the open positions todelivery or does not opt for client square off mode (in case of equity) or does not convert toFutures (in case of Future Plus), I-Sec would square off/close out the open positions. On the daysof high market volatility , I-Sec reserves the right to change the EOS timings by either pre-poningor postponing the same. Further, whenever any stock or underlying contract breaches the inter-nally prescribed percentage, I-Sec may square off the existing open positions without giving anyprior notice to the customers.

2 I-Sec does not guarantee to square off the open positions of the clients, whenever there are mar-gins shortages or the prices moved beyond the prescribed percentage. The clients are solely

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responsible for the trading decisions taken by them. In case of any debit balance, clients have to makegood losses without demur, immediately. I-Sec has the right to block/pledge the shares of theclient which are lying in his designated and linked demat account, sale of those stocks to recoverits dues and debit funds from the designated and linked bank account.

3 For Equity and Currency derivatives contracts, the client has to maintain applicable minimum mar-gin all the time i.e. till positions are open. I-Sec reserves the right to revise the margin require-ments at any point of time and if the client does not meet the margin requirements, I-Sec has theright to square off the open positions to the extent that the existing margin after deducting intradayMTM losses meets the revised Initial Margin requirements of I-Sec for the remaining open posi-tions. I-Sec at its sole discretion may or may not exercise the rights to square off the positionswhich are not meeting the margin requirements. Further, the client has been provided with tool onthe website itself where he can ascertain details of his existing margin blocked, margins required,MTM loss adjustment, margin percentage etc. The margin requirement derived by use of thesetools will be construed as demand for the additional margin required by I-Sec. I-Sec may notinform specific (one to one) clients about the margin requirements/margin top up calls/marginavailability before the square off. Clients are bound to monitor and review their open positions andmargin requirements all the times and furnish the additional margin to the Company.

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

5 All clients have to comply with the contract level margin requirements in Equity and Currencyderivatives segments. While squaring off client open positions, I-Sec does not consider the markto market (MTM) profit on other contracts in portfolio of the clients. I-Sec has the discretion tocharge margins at the group of contract level or at portfolio level. To understand the margin calcu-lations and requirements, clients are required to refer on-line information which is updated inFAQs and in the Terms and Conditions.

6 While squaring off the open positions, the free limits available in only that specific segment, whereclient has taken position are considered. While squaring off the open positions, free unallocatedbank or demat balances and the free limits available in other segments are not considered asmargin by I-Sec. However, I-Sec reserves the right to debit the free/unallocated balances or block/sale of free/unallocated shares in case of debit balance in the clients account.

7 In case the intra day equity products are converted to delivery the client has to meet the pay inobligation within due date i.e. by T+2 day. I-Sec reserves the right to square off required quantityin case the margin available on such pending delivery positions does not meet I-Sec’s marginrequirements as provided on the website. In case of intra day F&O/Currency derivatives products,the converted positions are treated at par with normal F&O/Currency derivatives positions.

D. Internal Shortages

As per the prevailing guidelines, the Trading Members settle with stock exchanges at Trading Memberlevel and at net scrip level basis. However, I-Sec settles transactions with clients at client level and hasthe scope for internal shortages. The internal shortages are marked against the clients randomly at thediscretion of I-Sec. The shares are purchased in the defaulting clients account before T+3 day and thedelivery of shares is given to the buyer by T+6 day. Any change in the policy would be updated on ourwebsite.

E. Restriction on further position and closeout of positions

Client shall be responsible for all his orders, including any orders, which exceed the available limits inhis client Account. The client shall credit the required fund to his linked Bank Account with ICICI Bankpromptly to ensure that the payment shall be received and processed on or prior to the settlement

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date or a date intimated by the I-Sec, whichever is earlier. If the payment is not received as aforesaid,then I-Sec may square off the same without any prior intimation to the client. In the event of liquidationof the open positions, the client shall be liable for any resultant losses and all associated costs incurredby I-Sec. In addition to these clauses, the conditions specified above in mentioned point number c arealso applicable.

The client understands that I-Sec at any point time and on its sole discretion and without prior notice tothe client may prohibit or restrict client’s access to the use of the web-site or related services or in anyspecific security and client’s ability to trade.

F. Penalty and other charges

The client shall be liable to pay late payment charges @ 0.065% per day at such rate (or other rate asmay be decided from time to time by ICICI Securities Ltd. ) on all delayed payment beyond the due date(i.e. pay-in-date) by the client to ICICI Securities Ltd.

G. Suspension / Closure of Trading Account

ICICI Securities may close/suspend the trading account of client pursuant to SEBI directive or for anyreason whatsoever, after giving notice as per the requirements to the client of the same. Such noticemay also be posted on our website. Notwithstanding any such closure, all rights, liabilities and obliga-tions of the parties arising out of or in respect of transactions entered into prior to the closure of ac-count shall continue to subsist and vest in /be binding on the client or his / its respective heirs, execu-tors, administrators, legal representatives or successors, as the case may be. Client can initiate sus-pend/closure of his account by giving 30 days written notice duly acknowledged by I-Sec. Presently, I-Sec does not deactivate any of the inactive accounts. Any change in policy would be updated on ourwebsite.

H. De registering of client

I-Sec has the sole discretion to continue the relationship. The terms and conditions as specified in theclient member Agreements are applicable.

I. Inactive accounts

A trading account in which no trades are done across any segment of any Exchange for six monthswould be termed as “Inactive” or “Dormant” trading account. I- Sec does not freeze any “Inactive” or“Dormant” trading account. However any trade emanating from such trading accounts pursuant to thesame being classified as “Inactive” or “Dormant” trading account would be subject to necessary duediligences and confirmations as I-Sec may deem fit.

I have read and understood the above policies

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GUIDANCE NOTE - DO’s AND DON’Ts FOR TRADING ON THE EXCHANGE(S) FOR INVESTORSBEFORE YOU BEGIN TO TRADE

1. Ensure that you deal with and through only SEBI registered intermediaries. You may check their SEBIregistration certificate number from the list available on the Stock exchanges BSE - www.bseindia.com,NSE- www.nseindia.com and SEBI website www.sebi.gov.in

2. Ensure that you fill the KYC form completely and strike off the blank fields in the KYC form. 3. Ensurethat you have read all the mandatory documents viz. Rights and Obligations, Risk Disclosure Document,Policy and Procedure document of the stock broker.

4. Ensure to read, understand and then sign the voluntary clauses, if any, agreed between you and thestock broker. Note that the clauses as agreed between you and the stock broker cannot be changedwithout your consent.

5. Get a clear idea about all brokerage, commissions, fees and other charges levied by the broker on youfor trading and the relevant provisions/ guidelines specified by SEBI/Stock exchanges. 6. Obtain a copy ofall the documents executed by you from the stock broker free of charge.

7. In case you wish to execute Power of Attorney (POA) in favour of the Stock broker, authorizing it tooperate your bank and demat account, please refer to the guidelines issued by SEBI/Exchanges in thisregard.

TRANSACTIONS AND SETTLEMENTS8. The stock broker may issue electronic contract notes (ECN) if specifically authorized by you in writing.You should provide your email id to the stock broker for the same. Don’t opt for ECN if you are not familiarwith 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 the stock broker. Don’t issue cheques in thename of sub-broker. Ensure that you have a documentary proof of your payment/deposit of securitieswith 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 stock exchanges’ websites, where details of tradeas mentioned in the contract note may be verified. Where trade details on the website do not tally with thedetails mentioned in the contract note, immediately get in touch with the Investors Grievance Cell of therelevant Stock exchange.

13. In case you have given specific authorization for maintaining running account, payout of funds ordelivery of securities (as the case may be), may not be made to you within one working day from thereceipt of payout from the Exchange. Thus, the stock broker shall maintain running account for yousubject to the following conditions:

a) Such authorization from you shall be dated, signed by you only and contains the clause that youmay revoke the same at any time.b) The actual settlement of funds and securities shall be done by the stock broker, at least once ina calendar quarter or month, depending on your preference. While settling the account, the stockbroker shall send to you a ‘statement of accounts’ containing an extract from the client ledger for

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funds and an extract from the register of securities displaying all the receipts/deliveries of fundsand securities. The statement shall also explain the retention of funds and securities and the detailsof the pledged shares, if any.c) On the date of settlement, the stock broker may retain the requisite securities/funds towardsoutstanding obligations and may also retain the funds expected to be required to meet derivativesmargin obligations for next 5 trading days, calculated in the manner specified by the exchanges. Inrespect of cash market transactions, the stock broker may retain entire pay-in obligation of fundsand securities due from clients as on date of settlement and for next day’s business, he may retainfunds/securities/margin to the extent of value of transactions executed on the day of such settlementin the cash market.d) You need to bring any dispute arising from the statement of account or settlement so made tothe notice of the stock broker in writing preferably within 7 (seven) working days from the date ofreceipt of funds/securities or statement, as the case may be. In case of dispute, refer the matter inwriting to the Investors Grievance Cell of the relevant Stock exchanges without delay.

14. In case you have not opted for maintaining running account and pay-out of funds/securities is notreceived on the next working day of the receipt of payout from the exchanges, please refer the matter tothe stock broker. In case there is dispute, ensure that you lodge a complaint in writing immediately withthe Investors Grievance Cell of the relevant Stock exchange.

15. Please register your mobile number and email id with the stock broker, to receive trade confirmationalerts/ details of the transactions through SMS or email, by the end of the trading day, from the stockexchanges.

IN CASE OF TERMINATION OF TRADING MEMBERSHIP16. In case, a stock broker surrenders his membership, is expelled from membership or declared a defaulter;Stock exchanges gives a public notice inviting claims relating to only the “transactions executed on thetrading system” of Stock exchange, from the investors. Ensure that you lodge a claim with the relevantStock exchanges within the stipulated period and with the supporting documents.

17. Familiarize yourself with the protection accorded to the money and/or securities you may deposit withyour stock broker, particularly in the event of a default or the stock broker’s insolvency or bankruptcy andthe extent to which you may recover such money and/or securities may be governed by the Bye-laws andRegulations of the relevant Stock exchange where the 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 investorcomplaints against the stock brokers are displayed on the website of the relevant Stock exchange.

19. In case your issue/problem/grievance is not being sorted out by concerned stock broker/sub-brokerthen you may take up the matter with the concerned Stock exchange. If you are not satisfied with theresolution of your complaint then you can escalate the matter to SEBI.

20. Note that all the stock broker/sub-brokers have been mandated by SEBI to designate an e-mail ID ofthe grievance redressal division/compliance officer exclusively for the purpose of registering complaints.

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NON MANDATORY DOCUMENTS

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"This document is voluntary, however, the same is required to be executed by the customers in order toavail of seamless online trading platform with integrated bank account, demat account and online brokingaccount. If you do not wish to use the services of ICICI Bank Limited and ICICI Securities Limited, you neednot execute such documents."

POWER OF ATTORNEY

THIS POWER OF ATTORNEY made at____________________ this ________________________ Day of_________20_____BYM/s. _____________________________________________________ having its registered office at__________________________________________________________________________________________________________________________________________________________________________IN FAVOUR OFICICI Securities Limited, a company incorporated under the Companies Act, 1956, and having its registeredoffice at ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai- 400 020 and Corporate Office at ShreeSawan Knowledge Park Plot No D 507, TTC Industrial Estate, MIDC, Turbhe, Navi Mumbai – 400705.,(hereinafter referred to as “ICICI Securities”, which expression shall, unless repugnant to the meaning orcontext thereof be deemed to mean and include the amalgamated/ demerged/transferee Company formedout of corporate restructuring, if any, undertaken in compliance with Section 391-394 of the CompaniesAct, 1956 and duly approved by the relevant High Court).

WHEREAS_________________________________________holds Bank Account No._________________________with ______________________________ Branch of the ICICI Bank Limited (hereinafter referred to as “ICICIBank”.)

WHEREAS _________________________________________________holds Demat Account(s) No. __________________________________ with ICICI Bank Limited (hereinafterreferred to as “Depository Participant”) and have requested ICICI Securities Ltd. to provide onlineinvestment and other related services.

WHEREAS as a consideration for providing various facilities and services and to facilitate proper executionof all transactions, including but not limited to, transactions for purchase (including margin trading), sale,investment in shares & securities, scrips, stocks, bonds, debentures, mutual fund units, units of any collectiveinvestment scheme or any other security or financial instrument, derivatives, including but not limited to,Equity Derivatives, Currency Derivatives, Interest Rates Derivatives, forwards, futures, swaps and options,purchase, sale, investment and other savings schemes of Government of India or other undertakings,transactions for payment to allowable billing companies, Fixed Deposits, General Insurance or order forpurchase or sale of or application for any offer or public issue of shares, and to sell securities in my/ourbehalf in any buy back or open offers made by the issuers or acquirers of such securities or to refer my/our name as per my/our instructions for availing of credit facilities from banks and finance companies orfor making investments (hereinafter referred to as “Purpose” ) and to give effect to all the terms of theClient Agreement, I/We am/are desirous of appointing ICICI Securities as my/our attorney and conferupon it the powers hereinafter stated.

THEREFORE, THIS POWER OF ATTORNEY WITNESSETH that I/we hereby nominate, appoint and constituteICICI Securities as my/our true and lawful attorney to do, execute and perform or cause to be done,executed and performed, the following acts, deeds and things or any of them for and on my/our behalfnamely:

1. To operate, block and/or debit the above named Bank Account as per my/our instructions to ICICISecurities furnished in any manner acceptable to ICICI Securities and to operate, debit, pledge, transfer ormark lien on securities in the Demat Account(s), as the case may be, to meet all my/our obligations interms of the Client Agreement for transactions done on the National Stock Exchange of India Limited(NSE) & Bombay Stock Exchange Limited (BSE), or any other recognized Stock Exchange by transferringmy/our funds to account no(s) 000405069726, 000405069729, 000405069731, 000405005406,

Principal authorised signatory Authorised Signatory 1 in ICICI Bank Current Account Authorised Signatory 2 in ICICI Bank Current Account

Authorised Signatory 1 in ICICI Bank Demat Account Authorised Signatory 2 in ICICI Bank Demat Account

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000405005970, 000405008178, 000405070670 or any other bank account and securities to pool / beneficiaryaccount no. IN300183 13632245, IN302902 44963232, IN300183 13632254, IN302902 44963249, IN30290244963257, IN302902 46841937 or any other pool / beneficiary account of ICICI Securities Limited on my/our instructions and to give other instructions relating to the Bank Account(s) and the Demat Account(s),for any matter concerning the above mentioned Purpose, including charges for account opening andavailing of various services and facilities from ICICI Securities .

2. To credit the Bank Account and the Demat Account(s) with monies/ securities due to me/us.

3. To credit/debit the Bank Account and the Demat Account(s) with monies/ securities received from /delivered by ICICI Securities erroneously on my/our behalf.

4. To send, in addition to any other document required to be disseminated by ICICI Securities as specifiedby SEBI or any other regulator from time to time, consolidated summary of my/our scrip-wise buy andsell positions taken with average rates to me/us by way of SMS / email on a daily basis.

5. To debit my/our Bank Account(s) and the Demat Account(s) towards monies/securities/fees/chargesetc. due to ICICI Securities, ICICI Bank and/or Depository Participant and to discharge all obligation in thisregard on my/our behalf to ICICI Securities, ICICI Bank, Depository Participant and/or third parties.

6. To debit/credit my/our Bank Account(s) towards monies/fees/charges etc. payable to ICICI Securities,ICICI Bank and/or Depository Participant or to a Third Party service provider or to any of the affiliates/subsidiaries of ICICI Securities / ICICI Bank by virtue of I/we using/ subscribing to any of the facilities/services provided either by ICICI Securities, ICICI Bank, Depository Participant or through a third partyservice provider or by any of the affiliates / subsidiaries of ICICI Bank.

7. To make applications for such credit facilities on a referral basis /investment/financial products includingbut not limited to, insurance policies, mutual funds etc. as may be instructed to be applied for me/us interms of the Client Agreement and to do all things necessary for and incidental to availing investment/financial products by me/us including but not limited to pledging of scrips, stocks, securities, bonds,debentures, mutual fund units, units of any collective investment scheme or any other security or financialinstrument on behalf of me/us through ICICI Securities or any third party.

8. To authorize the Bank / Depository participant to provide and ICICI Securities to receive my/our bank /demat transaction statements, either in a physical copy format or a format which can be uploaded insystem, from time to time

9. To have the first and paramount lien on the Bank Account to exercise such lien in the event of any losssuffered/costs incurred on account of any transaction done / executed as per my/our instructions or asper the terms and conditions of the products/services availed of by me/us.

10. To do all such acts, deeds and things as may be necessary for or incidental to provision of services andfacilities to me/ us, including giving intimations, confirmation, undertaking etc. on my/our behalf.

11. To retain all originals of documents executed by me/us.

12. AND GENERALLY to do or cause to be done every other acts, deeds, matter or thing as ICICI Securitiesmay deem necessary or expedient for the purpose of or in relation to these presents.

I/We hereby declare that all and every receipts made, executed or done for the aforesaid purposes byvirtue of these presents shall be as good, valid and effectual to all intents and purposes whatsoever as ifthe same had been made, executed or done by me/us in my/our own name(s).

I/We hereby ratify and confirm and agree to ratify and confirm all that ICICI Securities or any of its officeror officers shall do or cause to be done in or concerning the premises by virtue of these presents.

I/We hereby agree and confirm that this Power of Attorney shall be canceled or revoked by furnishing awritten intimation of the cancellation/revocation request to ICICI Securities, which request shall bear anacknowledgment of receipt by ICICI Securities. I/We further agree and confirm that the Power of Attorneywill be revoked / canceled immediately upon fulfillment of my/our obligation pertaining to unsettledtransactions and outstanding dues payable to ICICI Securities /ICICI Bank Limited/ and/or DepositoryParticipant or to a Third Party service provider or to any of their affiliates/subsidiaries as per the terms andconditions of the services/products availed by me/us.

IN WITNESS WHEREOF I/We have hereunto set and subscribed our respective hands at ______on this____day of _____20__ .

Authorised signatories (as per the relevant resolution/authorisation)1. To be executed by common seal, in case of corporate applicant2. To be notarised



4

25

DEMAT FEE SCHEDULE W.E.F. 01-01-2008

Fee Head DP Charges1 A/c opening Charges NIL2 Annual Services Charges Rs 500/- plus applicable service tax payable at

the time of account opening and thereafterevery year in the month in which the accountwas opened (waived for all ICICIdirect.comcustomers for the first year in which they openthe account)

3 Agreement Stamp Paper ` 100/- (included in the ICICIDirect.com accountopening fees forone demat account)

4 Transaction ChargesMarket BUY NILMarket SELL NIL for trades done on ICICI Direct.comOff-Market BUY NILOff-Market SELL (% of the transaction value of each ISIN).

Maximum ` 500/- for Debt instruments• For trades done through www.icicidirect.com NIL• For instructions submitted through Internet (e-instructions/IVR) 0.04% (Min. `10/-)• For instructions submitted through Call

Centre 0.04% (Min. ` 15/-)• For instructions submitted at Branches 0.04% (Min. ` 30/-)

5 Rejections/fails ` 30/- 6 Extra charges for processing of TIFDs

submitted late (% of transction value)• For instructions submitted through Internet

(e-instructions/IVR) NIL• For instructions submitted through Call

Centre NIL• For instructions submitted at Branches `10/- per ISIN

7 Dematerialisation• For each request form ` 35/-• Extra for each certificate ` 2/-

8 Rematerialisation• For each request form ` 20/-

9 Closure of Account NIL10 Pledge Creation/Closure/Confirmation/

Invocation (% of value for each ISIN in eachrequest)• If ICICI Bank is counter party 0.02 % (Min. ` 15/-)• If ICICI Bank is not counter party 0.04 % (Min. ` 30/-)

11 Additional Account Statements ` 20/- per statementIn addition to above, NSDL charges as applicable from time to time are recoverable.

Current NSDL charges :Sell-Market and Off-Market (w.e.f. 01.01.2008) ` 4.5/- per debit instruction

(Nil for commercial paper and short term debtinstruments)

Remat (w.e.f. 01.11.2006)

Pledge Creation ` 25/- per instruction

“ This document is voluntary, however, the same is required to be executed by the customers in orderto avail of hassle free trading platform. If you do not wish to use the services of ICICI Bank Limited andICICI Securities Limited, you need not execute such documents.”

A fee of ` 10 for every hundred securities or partthereof ; or a flat fee of ` 10/- per certificate,whichever is higher

26

CONDITIONS

The value of the shares and charges are calculated as per NSDL formula and rates.

There will be a charge of `100/- for dishonor of any cheque or unsuccessful attempt to recover

payment through direct debit or ECS. The depository services are liable to discontinuation if ICICI

Bank is unable to recover charges from the customer, for any reason whatsoever. There will be a

charge of ̀ 250/- for resumption of services in such cases. Services will be resumed after a minimum

of 3 working days from the date of receipt of request at Central Processing Office, Mumbai.

Any service, which is not mentioned above, will be charged separately as per the rates applicable

from time to time.

ICICI Bank reserves the right to revise the tariff structure from time to time with a notice of 30 days.

This notice may be given by ordinary post or by an advertisement in a National Daily.

In case the demat account is closed during the year, pro-rata refund of Annual Service charges will

be made.

For ICICIdirect linked accounts, demat service charegs will be debited from the linked ICICI Bank

Accounts.

Principal Authorised Signatory Signature + X 5

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"This document is voluntary, however, the same is required to be executed by the customers in orderto avail of seamless trading platform with integrated bank account, demat account and brokingaccount. If you do not wish to use the services of ICICI Bank Limited and ICICI Securities Limited, youneed not execute such documents."

LETTER OF CONFIRMATIONDate:To,ICICI Securities LimitedShree Sawan Knowledge Park,Plot No. D-507, T.T.C.Ind. Area, M.I.D.C.,Turbhe, Opp. Juinagar Railway Station,Navi Mumbai-400 705.

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

Sub: Opening of an integrated 3-1 Account forInvestment & or trading in securities and otherfinancial products and holding DematerializedSecurities, I/We refer to my/our application for opening ofintegrated 3 in 1 Client Account (“Client Account”)with ICICI Securities Limited (hereinafter called “ICICISecurities”) and integrating the trading account withICICI Bank Savings/current account with ICICI BankLimited (as a Bank, hereinafter called “ICICI Bank”)and with the Demat account (Dematerialised accountin Electronic Form) with ICICI Bank Limited (as aDepository Participant, hereinafter called “ICICIBank”) (hereinafter called “ICICI Bank”) and executionof DP Agreement and receipt of Right and Obligationdocument, Risk Disclosure document, Policies andProcedures and Guidance Note.In consideration of providing me Right andObligation document, Risk Disclosure document,Policies and Procedures and Guidance Note andexecution of DP agreement , (hereinafter called the“Client Agreement”) at my/our request, I/we herebyagree and confirm that:I/We am/are desirous of availing brokingservices through the duly registeredintermediary (Sub Broker / Authorised Personas specified on page 5 of Part A of thisapplication form) affliated to ICICI SecuritiesLimited.All references herein below my/our interactionwith I-Sec, Unless mentioned other wise willbe deemed to be through the registeredintermediary only, till such time as I/we opt tobe the direct client of ICICI Securities Limited

A. CLAUSES SPECIFIC TO OPENING OFTRADING ACCOUNT WITH ICICI SECURITIESLTD.

1. I/We (hereinafter referred to as “the Client”) shallbe entitled to transact in such Investment &

Insurance Products as are introduced onwww.icicidirect.com(“the Website”), the Website maintained by ICICISecurities.These transactions shall include butshall not be limited to transactions for thepurchase or sale or an order for the purchaseor sale of or an application for any offer or publicissue of shares, scrips, stocks, bonds,debentures, units of any Mutual Fund or anyother security or financial instrument,derivatives or contracts in derivative admittedfor trading on the Derivative Market Segmentof the Exchange, Small Savings Schemes,Bonds, Fixed Deposits, Public Provident Fundand Insurance policies, whether life or generalor otherwise, or financing on referral basis credit/ loan facility(whether secured or unsecured) orsuch other products or services that ICICISecurities may in its absolute discretionintroduce or offer from time to time (hereinafterreferred to as “Investment Products”).

2. I/We are desirous of participating in the trading& investment facility offered by ICICI SecuritiesLimited through its registered intermediary andhence I/we confer such authority to theregistered intermediary to do various acts inrelation to the aforesaid accounts in order togive effect to the instructions of and other termsof the client agreement executed by me/us withICICI Securities, ICICI Bank (as a Bank) and ICICIbank (as a Depository Participant). I agree andundertake that dealings undertaken on mybehalf by the registered intermediary would bein the nature of offline trading and only theregistered intermediary would be entitled totransact through ICICI Securities websiteincluding giving orders and instructions to ICICISecurities and receive confirmations regardingthe transactions executed through ICICISecurities Limited. I agree that until such timeas I continue to transact through the registeredintermediary, I will not be entitled to place ordersdirectly in my account. The facility for directtrading through the website will be madeavailable to me only after I become an onlineclient of ICICI Securities Limited.I hereby authorize the registered intermediaryto operate the linked demat accounts and thebank account currently linked to theICICIdirect.com account and those bank anddemat accounts that would be linked to the toICICIdirect.com account in future in order tosettle transactions ordered through by ICICISecurities on my/our behalf. In this regard I/wehereby authorize you to place purchase/ sale/redemption orders for securities as definedunder the Securities Contracts(Regulation)Act,

28

1956 offered by ICICI Securities Limited to itscustomers, allocate fund, modify fundallocation, make requests for application topublic issues, modify orders/applicationsrequests, cancel orders, receive information,confirmations regarding transactions on ICICISecurities Limited and accept various terms andconditions, as per the instructions given by me/us to you over phone, electronically, facsimileor in person and do all such related activitieson behalf on me/us. Further, I / we authorizethe registered intermediary to apply for variousservices on my/our behalf offered by ICICISecurities Limited. I / we however, are notconferring any authority on the registeredintermediary to directly withdraw / transferfunds/demat shares from my/our above referredbank account and demat account(s). Theregistered intermediary will have a limitedaccess to the bank and demat accounts throughthe ICICIdirect.com accountHowever, I/We request ICICI Securities Limited.to provide me/us with a separate user id andpassword as an additional facility only for thelimited purpose of viewing the orders,transactions, statements, contracts, ledgerbalances concerning my/our ICICIdirect.comaccount with ICICI Securities.

2. A. Clauses specific to facility of providing aseparate user id and password to view thetransactions to “off line clients”

2.A.1 The Client shall choose a password that shallbe at least 8 characters long (or as otherwisespecified by ICICI Securities and shall at alltimes keep the Client-identification andpassword confidential.

2.A.2 At such time and within such period as ICICISecurities may require, the Client shall obtainand maintain during the term of this Letter,digital signatures, which would aid and assistthe Parties and the Client to authenticate all orany electronic transactions made through theWebsite. The Client shall be responsible forkeeping the Client id and password and/ordigital signature confidential and secure andshall be solely responsible for transactions thatare viewed using the password and/or digitalsignature whether or not such person wasauthorised to do so.

2.A.3 In the event of an apprehension ofunauthorized access, the Client shallimmediately cause the password and/or digitalsignature to be changed. The Client shall at notime allow any unauthorized person access tohis Client Account and shall ensure that he logsoff every time that he is not using the service.

2.A.4 The Client shall forthwith intimate ICICISecurities of any unauthorized usage of thesame with full details of the date, the manner,the after the unauthorized use.

2.A.5 The Client may download the obligatorydocuments added by ICICI Securities at its

discretion, promptly on intimation of a noticeof its display by ICICI Securities.

2.A.6 The Client acknowledges, represents andwarrants that he has received/shall receive suchpasswords or digital signatures, as the case maybe, which provides access to the Client Accountand that the Client is the sole and exclusiveowner and shall be used by him of suchpasswords or digital signatures, as the case maybe, and accept sole responsibility for use,confidentiality and protection of the passwordor digital signature, as the case may be.

2.A.7 The Client is aware that the transactionstatements, which would be provided to theClient through Website or otherwise (as maybe intimated to the Client), may be accessed byother entities in case the confidentiality / secrecyof the password is compromised by the Client.Further, the client agrees that if he chooses tobecome a direct client of ICICI SecuritiesLimited or in the event of disassociation withthe registered intermediary due to whatsoeverreason, the aforesaid clauses specific to facilityof providing a separate user id and passwordto view the transactions to “off line clients”would automatically become a mandatoryfeature of the online broking account. Thefollowing clauses from 2.A. 8 to 2.A .11specificto online trading would also becomeoperational.

2.A. 8 ICICI Securities/ ICICI Bank shall cause to bedisplayed on the Website, the Terms andConditions governing the purchase, sale orany other transaction in each of the InvestmentProducts as and when they are introduced orat any time amend this Letter of confirmation,by modifying or rescinding any of the existingprovisions or conditions or by adding any newprovision or condition. Provided that ICICISecurities shall be entitled to modify/alter thesaid Terms and Conditions of such InvestmentProduct (excluding products which are dealton Stock Exchanges) and such a change shallbe displayed on the Website so as to intimatesuch modification/alteration to the Client. Thecontinued use of the Website by the Client shallbe deemed to be an acceptance by the Clientof the modified/altered Terms and Conditionsof such Investment Product (excludingproducts which are dealt on Stock Exchanges).For products which are dealt on StockExchanges, ICICI Securities shall follow theprocess as per the applicable rules andregulations of the concerned Stock Exchangesfor changes in terms and conditions.

2.A.9 The Client acknowledges that he is fully awareof the risks involved in online trading activities,including the risk involved due to unauthorizedaccess or any technical difficulties. The clientwould place all transaction instructions in hisonline trading account using his User Id andpassword. ICICI Securities shall act as theClient’s agent to complete all transactions

29

authenticated by the password assigned to theClient, or by such means as ICICI Securities mayrequire from time to time, including affixing ofdigital signatures. ICICI Securities has noobligations to verify the authenticity of anytransaction instruction sent or purported to havebeen sent from the Client other than by meansof verification of the Client’s password.

2.A.10 An order or application shall be deemed tohave been executed or cancelled only after suchstatus is updated by ICICI Securities on itswebsite.

3. ICICI Securities may, from time to time, and atits sole and absolute discretion, offer tofacilitate to the Clients, through the Websiteand other media, the facility of applying forloans and overdrafts and other credit facilities(hereinafter the “Credit Facility”) from variousBanks or financial institutions or any financecompanies(hereinafter referred to as “theFinancier”) for the purpose of investing in initialpublic offer / public offer of the shares of variousentities/securities (hereinafter referred to as“purpose”), in compliance with the applicablelaws. The Client acknowledges and agrees thatICICI Securities is only facilitating the Client inapplying for various Credit Facility and grant/sanction of the Credit Facility and the terms andconditions thereof shall be at the sole discretionof the Financier, ICICI Securities shall have noliability and/or responsibility whatsoever inconnection with the Credit Facility. The Financiershall have the sole discretion to accept or rejectthe application for Credit Facility made by theClient. This facility shall not be construed as aguarantee / undertaking by ICICI Securities tomake available the Credit Facility from anyFinancier in favour of the Client. Nothingcontained herein or on the Website shallconstitute or deemed to constitute an advice,an offer to purchase shares, or sponsorshipto subscribe to the shares or an invitation,recommendation or solicitation to avail of anyCredit Facility from any Financier. ICICISecurities may at any time, without giving anynotice to the Client terminate or suspend orwithdraw this service or facility.

4. The Client shall ensure that the transactionsthrough ICICI Securities are executed inaccordance with the applicable laws, byelaws,rules and regulations governing the specificInvestment Product. ICICI Securities may, fromtime to time, impose and vary limits on theorders which the Client may place, includingexposure limits, turnover limits, limits as tonumbers etc. The Client agrees that ICICISecurities shall not be responsible for anyvariation or reduction that may be deemednecessary by ICICI Securities based on its riskperception and other relevant factors.

5. The Client agrees that ICICI Securities is entitledto disclose to a third party, all such informationpertaining to the Client as may be required

from time to time, for the Client to be able toapply / avail of any or all of the InvestmentProducts mentioned above and / or for thepurposes of applying / availing Credit Facilityin terms of Clause 3 above.

6. REPRESENTATIONS AND WARRANTIES BYTHE CLIENT

a. The Client affirms, and shall continue to affirmevery time an order is placed through ICICISecurities or an application preferred, as thecase may be, that all information provided andthe statements made in the Client AccountOpening Form are true and are not misleading(whether by reason of an omission to state aparticular fact or otherwise as at the time ofcompleting the Client Account Opening Formor any time thereafter). The Client agrees thatICICI Securities has agreed to provide to theClient, various services based on therepresentations contained therein and in theClient Agreement and this Letter of Confirmation(“The Letter”).

b. The Client has the required legal capacity toexecute this Letter and is capable of performinghis obligations and undertakings hereunder.

c. The Client shall, at all times, be responsible forthe Client’s investment decisions and/or ordersplaced, or applications preferred by the Client,either electronically or otherwise through theregistered intermediary. The Client shall nothold, nor seek to hold, ICICI Securities and/orany of its officers, directors, employees, agents,subsidiaries or affiliates, liable for any lossincluding but not limited to trading lossesincurred by the Client. The Client understandsthat placing an order with ICICI Securities, eitherelectronically or otherwise, does not guaranteeexecution of the said order or acceptance of anapplication. ICICI Securities shall not bedeemed to have received any electronicallytransmitted order or application until ICICISecurities has confirmed the receipt of suchan order or application.

d. The Client agrees that ICICI Securities shall actas the Client’s agent to complete all transactionsplaced by the client vide the phone or personallythrough the registered intermediary. ICICISecurities is hereby expressly authorized tomake advances and expend monies as may berequired for carrying out such transaction. TheClient shall, at all times, be liable to pay ICICISecurities, the brokerage, commission, servicetax and other taxes and transaction expensesas applicable/ notified by ICICI Securities on theWebsite or by email from time to time. Certainorders or applications, at ICICI Securities solediscretion, may be subject to manual review,thereby delaying the processing of the Client’sorder or application. The Client shall receive theprice at which the Client’s order or applicationis actually executed in the Exchanges orotherwise, as the case may be, which in theevent of a delay may be different from the price

30

at which the Client’s order or application wasplaced.

e. The Client agrees that any request forcancellation/modification of an order or anapplication shall be subject to the order orapplication not having been acted upon oralready being executed or it being outside thecontrol of ICICI Securities to make anycancellation or modification to such order orapplication. The client further agrees that digitalcontract notes within 24 hours issued to himwould be a final confirmation of the ordersplaced on his behalf.

f. The Client hereby agrees that or the Exchangesshall not be liable for the non execution of anyorder caused due to any suspension,interruption, non-availability or malfunctioningof the trading service or the Exchange systemor service or for any reasons whatsoever.

g. The Client agrees to and undertakes to depositwith ICICI Securities such cash, securities orother acceptable securities as may be requiredas a margin, in addition to the permanentmargin, which may be higher than the marginas prescribed by the Exchange. The Clienthereby undertakes that when called upon to doso, provide ICICI Securities a margin deposit and/or additional margin money as required inrespect of business done for the Client by ICICISecurities.

h. The Client agrees that ICICI Securities and ICICIBANK may enforce any of the rights, duties andobligations arising under this Letter or anyrelated document including the Power ofAttorney either jointly or independently, andnothing in this Letter shall be construed in amanner so as to restrict the right of ICICISecurities and ICICI BANK to initiate any actionjointly.

i. The Client agrees that in case the Client hasapplied for shares in an Initial Public Offer /Public Offer through ICICI Securities, the Clientshall not, without prior intimation andacknowledgement of ICICI Securities, liaise withthe Registrar for the Initial Public Offer / PublicOffer to change the details of the DematAccount, Bank account and the Address on theApplication Form provided to the Registrar byICICI Securities. The Client further authorisesICICI Securities to give standing instructions tothe Registrar to reject such requests from theClient. In event of any change in the details ofthe Demat Account, Bank Account, Address ofthe Client, etc., the Client shall first update suchchanges with ICICI Securities who shall liaisewith the Registrar to update such changes andaccordingly the refunds/allotments on theApplication shall be made. The Client agreesthat ICICI Securities is hereby authorised to giveinstructions to the Depository Participant of theClient to reject any request received from theClient for changing the Bank Account detailsor updating any change relating to the Demat

Account. The Client further agrees that theClient shall not close the Demat Account /Bank Account without prior notification toICICI Securities where an Application for InitialPublic Offer / Public Offer has been made onbehalf of the Client through ICICI Securitiesand the Client agrees that ICICI Securities mayinstruct the Depository Participant / Bank ofthe Client to reject any such request receivedfrom the Client.In case an application is made for Initial PublicOffer / Public Offer through ICICI Securities, theClient authorizes ICICI Securities to collect onClient’s behalf, the refund amount, if any, fromthe Company/ Registrar and subsequently creditthe same to Client’s Bank Account after set-off/adjustment of dues payable by the Client onaccount of obligations incurred in connectionwith the application.The Client further agrees that ICICI Securitiesshall not be held responsible for non-allotmentof securities either fully or partly to the Client,for any reason whatsoever. ICICI Securities shallnot be held responsible in case due to somereason the bid/application/revision instructionsent by the Client is not received by it, or if thebid/application/revision could not be uploadedto the Stock Exchange, or could not be sent tothe Banker / Registrar to the issue.ICICI Securities shall not be held responsible fornon-receipt or delay in/incorrect receipt ofrefund, if any, from the Registrar/Company. ICICISecurities shall not be held responsible forincorrect Tax deduction at Source (TDS) by theRegistrar/Company, if applicable, or for non-receipt or delay in/incorrect receipt of TDScertificate, if any, from the Registrar/Company.The Client agrees that the aforesaid Power ofAttorney executed by the Client in favour of ICICISecurities and the instructions provided by theclient shall be treated as extending to makingof the application for Initial Public Offer / PublicOffer on behalf of the Client, and further thatzmay furnish certified copy of the Power ofAttorney and other documents on behalf of theclient to the Company/Registrar/any third party.

11. The terms and conditions pertaining to theICICIdirect.com Account, Bank Account &Demat Account which is in force now, havebeen read by me/us.

12. I/We have understood the same and I/we agreeto abide by and to be bound by the rules asare in force from time to time for suchaccounts.

13. I/We also declare that the particulars given byme/us are true to the best of my/ourknowledge as on the date of making suchapplication. I/We further agree that any false/misleading information given by me orsuppression of any material fact will rendermy/our account liable for termination andfurther action.

14. I/We agree to pay the charges as per the

31

Schedule of Charges attached to the Form andany revision thereof from time to time andunderstand that my/our opening of theICICIdirect.com Account is subject to thepayment of these charges.

15.I/We wish to link all accounts under the WebBanking Account with ICICI Bank. I/We confirmthat First holder is the sole signatory orauthorised to act alone where the accounts arein the joint names.

16. I/We hereby authorize ICICI Securities to debitall the Demat Account related charges to my/our ICICI Bank Account linked toICICIdirect.com Account.

17. I/We understand that in case the Demat Accountis closed during the year, no pro-rata refund ofannual charges will be made.

18. I/We authorise ICICI Bank to receive creditsautomatically into my/our Bank and DematAccount(s).

19. I/We agree and confirm that I/we have read theterms and conditions of the account facility, andthe terms and conditions pertaining to usageof channels for access of the said account facilityas put up on www.icicibank and am/are awareof and will adhere to all the terms/conditions ofopening/ maintaining of the said account andusage of the channels with / by ICICI Bank Ltdas may be in force from time to time. I/Wefurther declare that I/We have read and are/ amaware of and will adhere to the rules of theDepository in relation to maintenance andoperation of the account.

20. I/We understand that certain particulars givenby me/us are required by the operationalguidelines governing banking companies. I/Wefurther declare and confirm that the creditfacilities, if any, enjoyed by me/us with otherbanks has been disclosed herein above.

21. I/We declare, confirm, agree:a. That all the particulars and information given in

the Application form are true, correct, completeand upto date in all respects and I/We have notwithheld any information.

b. That I/We confirm that I/We have had noinsolvency initiated against me/us nor have I/We ever been adjudicated insolvent.

c. That I/We have never been prohibited to transactin the Securities Market by SEBI/NSE/BSE orany Regulatory Body and that I/We have notbeen declared as suspended/expelled/ defaultertrading members; defaulting constituents andemployees of other trading members by SEBI/NSE/BSE or any other regulatory Body.

d. That I/We have read the application form andbrochures and am/are aware of all the termsand conditions of availing the said services fromICICI Bank and its Group Companies and ICICI

Securities.

e. That ICICI Securities, ICICI Bank and its GroupCompanies reserve the right to reject anyapplication without providing any reason.

f. I/We declare and confirm that I/we are not anauthorized representative or employee ofanother trading member. I/We undertake thatwe shall not execute trades through ICICISecurities on NSE or BSE if I/we become anemployee of another trading member unless I/we provide a written consent of such employingtrading member to ICICI Securities.

g. I/We declare and confirm that I/We are notmember(s) of the National Stock Exchange ofIndia Ltd. or Bombay Stock Exchange Ltd. I/Weundertake that we shall not execute tradesthrough ICICI Securities on NSE or BSE if I/webecome member of the respective stockexchange(s).

h. I/we hereby agree that this Declaration may becanceled or revoked by me/us only uponfurnishing an advance written notice of 30(thirty) days to ICICI Securities and ICICI BankLtd. and by obtaining proper writtenacknowledgment for the receipt of the noticefrom ICICI Securities Ltd and ICICI Bank Ltd. I/we further understand that upon receipt of suchnotice, ICICI Securities Ltd and ICICI Bank Ltd.may at any time terminate or suspend my/ouraccount/accounts or any other servicesprovided to me/us with or without any furthernotice. Such notice or termination orsuspension of account(s)/ services shall nothave any effect on the transactions executedby or on my/our behalf before the date of suchnotice or effective date of termination orsuspension of account(s)/ services, whicheveris later.

i. I/We are required to comply with the KYCRegistration Agency (KRA) - Know Your Client(KYC) norms mandated by SEBI. I/Weunderstand that in case I/we do not complywith the mentioned norms, transactions inMutual Fund will not be permitted.

J. I/We understand that as per AMFI guidelines,wef 1st February, 2008, KYC formalities arerequired to be completed for all Unit Holders,including Guardians and Power of Attorneyholders, for any investment (whether new oradditional purchase) of ` 50,000 or more inmutual funds. If I/we wish to make investmentsof Rs50,000 or more in mutual funds and if I/we have not already obtained a KYC(MIN), I/We wouldbe requried to comply with theKnow Your Client (KYC) norms mandated byAMFI. I/We understand that in case I/we do notcomply with the mentioned norms,transactions in Mutual fund units above

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Rs50,000 will not be permitted.

22. I/We agree, undertake and authorize:a. ICICI Securities, ICICI Bank and its Group

Companies or their agents to make referencesand enquiries relative to information in thisapplication which ICICI Securities, ICICI Bankand its Group Companies or their agentsconsider necessary.

b. To inform ICICI Securities, ICICI Bank and itsGroup Companies regarding change in my/ourresidence/ employment and to provide anyfurther information that ICICI Securities, ICICIBank and its Group Companies may requirefrom time to time. I/We hereby authorise ICICISecurities, ICICI Bank and its group companiesto update any change/alteration in my/ourcommunication address/residence address/employment details that ICICI Securities, ICICIBank and its group companies may be informedof by me and/or is brought to the notice of ICICISecurities, ICICI Bank and its group companiesand hereby authorise ICICI Securities, ICICI Bankand its group companies to contact me/us onsuch changed/altered address. I/We shall besolely responsible to ensure that ICICISecurities, ICICI Bank and its group companieshas been informed of the correct address forcommunication/residence address employmentdetails. I/We agree to indemnify ICICI Securities,ICICI Bank and its group companies against anyfraud or any loss or damage suffered by ICICISecurities, ICICI Bank and its group companiesdue to my/our providing of any incorrectcommunication address/residence address/employment details and/or failure on my/ourpart to communicate the change/alteration inmy/our communication address/residenceaddress/employment details.

c. I/We agree and hereby authorise ICICI SecuritiesLtd/ICICI Bank Ltd/its Group Companies andtheir agents to exchange, share or part with allthe information, data or documents relating tomy/our application and transaction informationto other ICICI Group Companies/ Banks/Financial lnstitutions/ Credit Bureaus/ Agencies/Statutory Bodies/such other persons as ICICISecurities Ltd/ICICI Bank Ltd/its GroupCompanies may deem necessary and/orappropriate as may be required for use orprocessing of the said information/data by suchperson/s or furnishing of the processedinformation/data/products thereof to otherBanks/Financial Institutions/credit providers/agencies/users registered with such personsand I/we shall not hold ICICI Securities Ltd /ICICI Bank Ltd/ its Group companies and otherpersons to whom such information etc. isdisclosed liable for the disclosure or use of suchinformation.

d. I/We agree to undertake and authorise ICICI

Bank to issue a consolidated certificate for TaxDeducted at Source, if applicable, on interestpaid or credit during the financial year inaccordance with prevailing Income Tax Lawsunless otherwise requested by me/us throughprior intimation. I/We agree and confirm that taxwill be deducted at source as per prevailingincome tax laws subject to a certificate fromIndian tax authorities for nil / concessional rateof tax deduction. I also understand and agreethat tax implications including documentationrequirement are subject to change from timeto time.”

23. I/We agree that I shall be solely responsible tomake avaiIable funds / securities for transactionsexecuted in my ICICIdirect.com tradingaccount. I/We understand that ICICI Securitiesis an entity independent of ICICI Bank (in itscapacity as a bank and as a depository) and ifthe bank and / or demat accounts linked tomy/our trading account are non-operationaldue to any reason whatsoever, I/We shallcontinue to be responsible to make availablefunds / securities towards my/our payingobligations. The inability of ICICI Securities todebit the same from my/our linked Bank/Demataccounts does not obsolve me/us from suchliability or change in any way rights, liabilitiesand obligations arising out of or in respect oftransactions entered thereto.

24. I/We agree that though all endeavor is made byICICI Securities to provide maximum possibledetails pertaining to my transactions, certaindetails like allocation of funds / securities,trading limits, open positions in the derivativesmarket and the like can be made available onlyfor the current trading settlement. I furtheragree and understand that ICICI Securitiescannot make available historical details of suchdata taking into consideration the technicalfeasibility, usage etc of the same. I agree thatrecords of historical details of such data asmaintained / extracted / archived by ICICISecurities Limited. would be acceptable to meas authentic and final.

25. I/We agree that certain details as provided inmy/our trading account would not be on a realtime basis. I/ we agree and accept that suchdetails would be updated by ICICI Securities Ltdon best effort basis within reasonable time. I/we shall not hold ICICI Securities responsiblefor any possible mismatches in the real timedata and data as reflecting on the site duringthe period the updations are not effected.

26. I/We authorise ICICI Bank Ltd. to issue an ICICIBank Debit cum ATM Card to me/us. I/Weacknowledge that the issue and usage of theCard is governed by the terms and conditionsas in force from time to time and agree to bebound by the same. I/We acknowledge that it

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is my/our responsibility to obtain a copy of andread the same. I/We accept that the terms andconditions are liable to be amended by ICICIBank Ltd. from time to time.

27. I/We further unconditionally and irrevocablyauthorise ICICI Bank Ltd. to debit my/our BankAccount annually with an amount equivalent tothe fee and charges for use of the Debit cumATM Card.

28. I/We hereby confirm this Bank account will beoperated singly and in case of joint accountoperated by either or survivor.

29. I/We confirm that the Bank account to beopened with ICICIdirect.com Account be usedfor the purpose of all cash corporate actions.

30. I/We wish to apply for all the Mobile BankingAlerts as are displayed on the websitewww.icicibank.com for the Bank Account to beopened/linked.

31. I/We, the Jointholder/s, hereby authorize theFirst holder, to access the Internet Banking,Phone Banking and Mobile Banking channelsas provided for viewing of and transaction fromthe Account and the First holder confirms thesaid appointment. I/We, the Jointholder/s,hereby state that should I/we, Jointholder/s,wish to revoke the above authorisation, I/we,Jointholder/s, shall duly issue a letter ofrevocation (" the revocation letter") to ICICI Bankin this regard. I/We hereby agree that until tendays after receipt of such revocation letter, theauthorisation as aforestated shall hold good.

32. I/We affirm, confirm and undertake that I/wehave read and understood the Terms andConditions for usage of the Mobile Bankingservice of ICICI Bank Limited and I/we aware ofCharges Applicable as set forth inwww.icicibank.com, and that I/we agree on my/our own behalf, or as the mandate holder onbehalf of the joint account holders, and willadhere to all the terms/conditions of opening/applying/ availing/ maintaining/ operating (asapplicable) for usage of Mobile Banking serviceof ICICI Bank Limited as may be in force fromtime to time. I/we further authorize ICICI BankLimited to debit my Account(s) towards anyCharges for Mobile Banking Service.

33. The rules & regulations of the Depository andDepository Participants pertaining to an accountwhich are in force now have been read by me/us and I/We have understood the same and I/We agree to abide by and to be bound by therules as are in force from time to time for suchaccounts. I/We also declare that the particularsgiven by me/us are true to the best of my/ourknowledge as on the date of making suchapplications. I/We further agree that my false/misleading information given by me or

suppression of any material fact will rendermy account liable for termination and furtheraction.

34. I/We agree and understand that ICICI Bank Ltd/its Group Companies reserve the right to retainthe application forms, and the documentsprovided therewith, including photographs, andwill not return the same to me/us.

35. I/We agree and understand that I/We have tocomplete further applications for specificliability products/services from ICICI Bank Ltd/its Group Companies, as prescribed from timeto time, and that such further applicationsshall be regarded as an integral part of thisapplication (and vice versa), and that unlessotherwise disclosed in such further forms asprescribed, the particulars and information setforth herein as well as the documents referredor provided herewith are true, correct,complete and up-to-date in all respects. I/Weagree and understand that such furtherapplications will require incorporation of theapplication form number, and/or such detailsas ICICI Bank may prescribe, to facilitate datamanagement.

36. I/We understand ICICI Securities Limited doesclientele business and has decided to do anddeals in proprietary trading too. The disclosureis given pursuant to the requirement as perclause 2.3 of the SEBI Circular No. SEBI/MRD/SE/Cir-42/2003 dated 19th November, 2003.

37. I hereby declare that I have, read andunderstood the terms and conditions governingthe ICICIdirect.com a/c and ICICI Bank a/c athttps://secure.icicidirect.com/resident/tnc.htm

38. I agree that a Student account or a SavingAccount having quantum optimum facility or aCurrent A/C cannot be linked.

39. I/we have no objection to ICICI SecuritiesLimited, its group companies, agents /representatives to provide me/us informationon various products, offers and servicesprovided by ICICI Securities Limited / its groupcompanies through any mode (includingwithout limitation through telephone calls /SMSs / emails) and authorise ICICI SecuritiesLimited, its group companies, agents /representatives for the above purpose.

B. CLAUSES SPECIFIC TO OPENING OF BANKACCOUNT WITH ICICI BANK

1. The Client shall be entitled to operate his BankAccount (referred to as “Web Banking Account/Service” or “Bank Account”) though the useof Web Banking service offered by ICICI BANK,which may be withdrawn at any time at the solediscretion of ICICI BANK.

2. ICICI BANK shall endeavour to provide the Clientthrough Web Banking, services such as balance

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enquiry for his Bank Account, transactiondetails, statement of Bank Account, cheque-book request, request for transfer of fundsbetween accounts of the same Client and suchother facilities as ICICI BANK may decide toprovide from time to time.These facilities shall be offered in a phasedmanner at the discretion of ICICI BANK. ICICIBANK may also make additions/deletions to theservices offered through Web Banking at its solediscretion. The availability/nonavailability of aparticular service shall be intimated to theClients though e-mails and/or webpage of ICICIBANK or may be displayed on the Website.

3. ICICI BANK shall take reasonable care to ensuresecurity of and prevent unauthorised access tothe Web Banking Services, using technology,reasonably available to it.

4. ICICI BANK shall allot to the Client the Client-Identification and secret passwords or requirethe usage of digital signatures while openinghis Bank Account. The Client will be required tochange the passwords assigned by ICICI BANKon accessing Web Banking for the first time.ICICI BANK will not be liable in any case whereinthe Client has not changed the passwords afterhe has first been issued to them. As a safetymeasure the Client shall change the passwordsas frequently thereafter as possible.

5. The Client shall at all times comply with suchdirections/instructions as may be issued by ICICIBANK, including but not limited to themaintenance of a minimum balance in the BankAccount, payment of service charges, etc.ICICI BANK may, in its sole discretion, levypenal charges for non-maintenance of theminimum balance as stipulated from time totime. Any change in the fees shall be notifiedon ICICI BANK’s website. The Client authorizesICICI BANK to recover all charges related toWeb Banking as determined by ICICI BANKfrom time to time by debiting the Client’s BankAccount.

6. All transaction to be executed through the WebBanking Service shall be subject to theavailability of sufficient funds in the BankAccount of the Client and ICICI BANK shall notbe liable for any omission to make all or any ofthe payment or for late payment due tocircumstances beyond the reasonable controlof ICICI BANK.

7. The Client shall be responsible for the accuracyof information supplied to ICICI BANK throughthe use of Web Banking or through any othermeans such as electronic mail or writtencommunication. ICICI BANK accepts no liabilityfor the consequences arising out of erroneousinformation supplied by the Client. If the Clientsuspects that there is an error in the informationsupplied to ICICI BANK by him or notices anerror in the information supplied to him throughWeb Banking then he shall intimate ICICI BANK

as soon as possible and ICICI BANK shallendeavour to correct the same, whereverpossible, on a ‘best efforts’ basis.

8. The Client shall be liable for any loss caused toICICI BANK due to any unauthorisedtransactions in the Web Banking Account if theClient has breached any of the terms of usageof Web Banking or contributed or caused theloss in any manner. Provided that nothingcontained herein shall be construed in such amanner so as to hold the Client liable for anyunauthorised transactions occurring throughthe use of Web Banking that is attributable solelyto the fraudulent or negligent conduct ofemployees of ICICI BANK.

9. ICICI BANK shall under no circumstances beheld liable by the Client in case of Web Bankingaccess not being available in the desired mannerfor reasons including but not limited to naturalcalamity, floods, fire and other natural disasters,legal restraints, faults in the telecommunicationnetwork or Internet or network failure, softwareor hardware error or any other reason beyondits control. Under no circumstances shall ICICIBANK be liable for any damages whatsoeverwhether such damages are direct, indirect,incidental, consequential and irrespective ofwhether any claim is based on the loss ofrevenue, investment, production, goodwill,profit, interruption of business or any other lossof any character or nature whatsoever andwhether sustained by the Client or any otherperson.

10. The Client agrees that the Bank or itsrepresentatives/contractors may hold andprocess Information pertaining to the Client oncomputer or otherwise in connection with WebBanking service as well as for statisticalanalysis and credit scoring. The Client alsoagrees that ICICI Bank may disclose, in strictconfidence, to other institutions, such ClientInformation as may be reasonably necessaryfor reasons inclusive of, but not limited to, thefollowing:(a) For participation in any telecommunicationor electronic clearing network;(b) In compliance with a legal directive;(c) For credit rating by recognised credit scoringagencies; and/or(d) For fraud prevention purposes.

11. ICICI Bank shall have the right of set-off,irrespective of any other lien or charge, presentas well as future, on the deposits held in theClient’s Bank account(s) and other deposits,whatsoever, to the extent of all outstanding duesto ICICI Bank, howsoever, arising.

12. The Client acknowledges that the softwareunderlying the Web Banking Service as wellas other Internet related software which arerequired for accessing Web Banking are thelegal property of the respective vendors and theClient shall not attempt to modify, translate,disassemble, decompile or reverse engineer the

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software underlying the service. Thepermission given by ICICI BANK to access WebBanking shall not convey any proprietary orownership rights in the above software.

13. The Client expressly authorizes ICICI BANK toblock the amount required to settle theobligations of the Client against the desiredlimits and in case of the execution of the order,either in part or in full debit the Client’s BankAccount to the extent necessary to settle theobligations and credit ICICI Securities Account.The Client agrees that Client shall not bepermitted to withdraw, issue a cheque orotherwise use the blocked and/or allocatedfunds in his Bank Account. ICICI BANK reservesall its right to dishonour their instruction/chequethat may be issued against the blocked amount.The Client also understands & agrees thatblocking of funds against their order will begiven priority over all other instructions orcheques given by either the Client or hisauthorized representative.

14. The Client agrees that ICICI Bank may prescribecertain additional terms and conditions for thepurpose of offering Web Banking service andthat the Client can utilise such service only afterhe agrees to abide by all such terms andconditions.

C. CLAUSES SPECIFIC TO OPENING OFDEMATERIALISED SECURITIES ACCOUNT (DPACCOUNT) WITH ICICI BANK LTD.

1. ICICI Bank as Depository Participant (DP) willnot be liable to us for any action taken orauthorised to be taken by it pursuant to the DPagreement or for any claim, loss, damages orexpenses arising in connection with any suchaction or omission except in so far as the sameresults from bad faith, wilful default ornegligence on the part of ICICI Bank.

2. ICICI Bank as DP will not be liable or responsiblefor the loss or damages arising on account ofany natural calamities or on account ofmalicious damages caused on account of anystrike, civil commotion, riots, war, war likeevents or circumstances beyond the control ofICICI Bank.

3. ICICI Bank as DP, will not be responsible for thetitle, validity or genuineness of any securitieswhich have been dematerialised and notifiedsubsequently by the Registrars of any defectsin its title/validity which has resulted in areduction of the dematerialised holdings of theclient and the consequences thereon.

4. I/We hereby agree to hold ICICI Bank harmlessagainst all actions, proceedings, claims anddemands, cost and expenses incidental theretowhich may be brought against, suffered orincurred by ICICI Bank as DepositoryParticipant by reason of all acts done by itpursuant to the provisions of the abovereferred agreement executed at the time ofopening the DP account, including any action

or omission undertaken in compliance withany instructions received by ICICI Bank whichICICI Bank believes in good faith to have beengiven by me/ us and make good the lossesincurred by ICICI Bank on all legal, professionaland other expenses incurred by ICICI Bank.

5. I/We undertake to send ICICI Bank instructionsrelating to the transfer of securities latest by 4p.m. on business day (excluding Saturday,Sunday and bank holidays) prior to theexecution date indicated by me/us in the debitinstruction. We note that the instructionsreceived by ICICI Bank after this, will be carriedout and updated only on “Best Effort” basis.ICICI Bank is not liable for any losses and arisingout of TIFDs accepted on the “Best Effort” basis.

6. ICICI Bank will not be responsible for any failureas a result of non receipt or receipt ofincomplete/erroneous instructions thoughreceived within the stipulated time.

7. All instructions will be signed by me/us or byan authorised person on my/our behalf whosesignature has been lodged with ICICI Bank alongwith relevant documents as required by ICICIBank. I/We shall inform ICICI Bank about thechanges in the list of authorized persons andtheir specimen signatures from time to time.

8. I/We am/are agreeable to pay the fees for theservices rendered by ICICI Bank as perAnnexure annexed to the agreement executedby me/us for opening the DP account. I/Wehereby authorise and instruct ICICI Bank to debitthe bank account to be notified by me/us forthe fees and other charges and undertake toensure that adequate balances are madeavailable in the bank account. I/We furtherconfirm that, the securities held in my/our DPaccount are subject to a lien/right of set off infavour of ICICI Bank for the claims of moniespayable to ICICI Bank pursuant to the DPAgreement executed by me/us at the time ofopening the DP account.

9. I/We am /are agreeable for your changes in therules and procedures and revision in tariffstructure from time to time.

10. The particulars given and declarations made byme/us in the account opening form, otherdeclarations and in this letter are true as on thedate hereof and any changes will be informedto you immediately. I/We further confirm thatICICI Bank is not liable and responsible for anyincorrect information given to ICICI Bank norfor any false declaration furnished to ICICI Bankand the consequential effects thereon.

11. I/We have read and understood the rules andregulations pertaining to the Depository andDepository Participants in connection withopening and operating of DP accounts.

12. I/We authorise ICICI Bank to issue/re-issue aTIFD booklet through Post or Courier or as peryour standard practice. The Courier charges willbe debited in my/our account.

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13. I/We also agree that, in case of my/our notfollowing the terms and conditions ICICI Bankreserves the right to discontinue execution ofany instruction in my/ our account.

14. (a)I/We hereby authorise ICICI Bank, to claimfrom my/our bank account above mentionedcharges in respect of the Demat Account.I/We further confirm that :i) I/We am/are agreeable to participate inElectronic Clearing Services (Debit Clearing) ofRBI and enclose the Mandate Form.ii) The Bank has been authorised to debit my/our account with your charges and remit theproceeds to ICICI Bank in the manner advicedby ICICI Bank from time to time. ICICI Bank mayforward a copy of the authorisation to the Bank.(b) I/We hereby undertake not to revoke thestanding instruction given to my Bank for theabove without the written approval from ICICIBank over after complying with clause ‘d’ below.(c) We will ensure that sufficient balance will bemaintained in the said account for meeting thedues.(d) I/We will provide fresh authorisation/instruction for claiming ICICI Bank dues fromthe new bank account in the event of our closingthis bank account.I/We will provide fresh authorisation to ICICIBank at least one month prior to our closingthe account.

15. I/We have agreed to ICICI Bank accepting anyfacsimile (fax) instructions, I/We confirm thatICICI Bank as DP shall not be liable for any lossesor damages which I/We may suffer as aconsequence of ICICI Bank as DP acting inaccordance with or in reliance upon, any faxinstructions. I/We hereby agree that I/We shallindemnify the DP and keep ICICI Bank as DPindemnified and saved harmless, at all timesagainst any claims, losses, damages, inconnection with or arising out of or in relationto any fax submission.

16. I/We further confirm that the above confirmationare in addition to those agreements andconfirmation given by me/us in the accountopening form and the DP agreement executedby me/us for opening the DP account.

17. I/We hereby also authorise the Bank to debit allcharges in respect of the Demat Accountpayable by me/us to the above mentionedaccount. I/We undertake that sufficient balancesshall be maintained by me/us and shall in noany way impair the right of the Bank to debitthe Service Charges. I/We hereby furtherauthorise the Bank to charge interest, at theprevailing commercial rate, on overdrawnbalances in the Said Account(s) due to thedebiting of Services Charges.The Bank shall not be obliged to provideoverdraft facility on the Said Account exceptthose arising out of debit of Service Charges

payable by me/us. I/We hereby undertake toremit the amount of debit plus the interest within15 days of being notified about the same.I/We also authorise the Bank to arrange toexercise a lien over the dematerialised sharestill the dues are remitted in full by me/us.I/We hereby undertake not to revoke thisauthority without the written approval from theBank. I/We hereby specifically agree andconfirm that any matter or issue arisinghereunder shall be governed by and construedexclusively in accordance with the Indian lawsand shall be subject to the jurisdiction of thecourts of Mumbai in India.I, hereby, declare that the particulars givenabove are correct and complete. If thetransaction is delayed or not effected at all forreasons of incomplete or incorrect information,I would not hold the user institution responsible.I hereby agree to discharge the responsibilityexpected of me as a participant under thescheme.

18. I/We am/are aware that I/we will not receive thetransaction statements in paper form in case I/we opt for receiving the Transaction Statementsby email or on website.

19. In case transaction statements are sent by email,I/we will take all the necessary steps to ensureconfidentiality and secrecy of the login nameand password of the internet/email account.

20. In case transaction statements are sent by email,I/we am/are aware that the transactionstatement may be accessed by other entities ifthe confidentiality/secrecy of the login name andpassword is compromised.

21. In case transaction statements are sent by email,I/we shall immediately inform the DP aboutchange in email address, if any.

22. In case transaction statements are sent byemail, I/We am/are aware that DPs andClient(s) shall have the right to terminate suchservice provided a written notice is given atleast 10 days in advance to the other party

23. I/We am/are aware that the SMS Alert facilityis free of cost

24. I/We am/are aware that the SMS Alert facilitywill be activated after 30 days from the date ofthe communication based on the mobilenumbers as provided by me/us at the time ofopening the demat account or as updated fromtime to time. I/We am/are aware that I/we canchange my/our mobile number at a later dateas per the processes defined by ICICI Bank /ICICI Securities

25. I/We am/are aware that Client(s) shall have theright to terminate such service providedcommunication for termination of service ismade to ICICI Bank, whenever I/we so desire.

D. OTHER TERMS AND CONDITIONS1. This Letter shall, at all times, be subject to

Government Notifications, the relevant

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statutory rules, regulations, bye laws, customsand/or usage of the concerned regulatorybody having jurisdiction over the transactionwith respect to the particular InvestmentProduct. I/We understand that clauses in theLetter of confirmation are subject to SEBI andStock Exchange Rule, Regulation, Byelaws andCircular in so far as they relate to concernedregulatory body having jurisdiction over thetransaction with respect to the particularproduct. In the event the clauses in the Letterof confirmation are in contradiction to theguidelines prescribed by the regulatoryauthorities, the regulatory guidelines will applyand will supersede such clauses in the Letterof Confirmation. In all other cases clauses inLetter of confirmation shall apply, so far as theyrelate to Investment Products. An orderinadvertently processed, in spite of insufficientbalances in the Client’s Bank Account or theaccount maintained with ICICI Bank DepositoryParticipant shall at ICICI Securities solediscretion be subject to cancellation orliquidation.

2. However, the Client shall be responsible for allhis orders, including any orders, which exceedthe available limits in his Client Account. TheClient shall credit the required fund to his BankAccount with ICICI BANK promptly to ensurethat the payment shall be received andprocessed on or prior to the settlement date ora date intimated by ICICI Securities, whicheveris earlier. If the payment is not received asaforesaid, then ICICI Securities may square offthe same without any prior intimation to theClient. In the event of liquidation of the Account,the Client shall be liable for any resulting lossesand all associated costs incurred by ICICISecurities.

3. ICICI Securities may, in its discretion, send anydocument that is obligatory to be sent to theClient by means of an electroniccommunication, with the possible exceptionof graphic insertions such as photographs orlogotypes, except Contract Notes which shallbe sent electronically only if client has optedfor Electronic Contract Notes (ECN). Thiselectronic communication may be in the formof e-mail, an e-mail attachment or in the formof download available on the Website. ICICISecurities would be deemed to have fulfilledits legal obligation to deliver a document tothe Client, if it is sent by the electronic mode.The Client shall download the said documentpromptly on intimation of a notice of itsdisplay. Provided that on a request being madeby the Client, due to a difficulty experiencedby the Client in viewing the same, ICICISecurities may, in its discretion, make therequired delivery by such other means, as itmay deem appropriate. The document shallbe deemed to have been duly delivered andits content accepted by the Client if there is

no intimation received by ICICI Securitieswithin twenty-four hours from the date ofdelivery / display of the document. Nothingmentioned in this clause shall be applicableto ECNs since the same is governed byExchange specified rules/regulationsprescribed from time to time and as mentionedin Rights and Obligations document in thisapplication form.

4. ICICI Securities agree that it, shall keep allInvestment Products belonging to the Client inseparate accounts & shall transact in the samebased only on the directions of the Client or hispower of attorney holder or as authorized bythis Letter or as required by rules, regulationor law of any authority regulating theInvestment Products for the time being inforce.

5. ICICI Securities shall credit the proceeds of thesale/redemption etc. of any of the InvestmentProducts only after ICICI Securities has receivedthe same unless specifically agreed otherwise.The proceeds of all sales will be credited to theClient’s Bank Account directly on the designateddate.

6. If the securities are not received on or beforesettlement date or securities received are notin deliverable state or due to any other reasonwhatsoever, Client is not able to deliversecurities, the securities will be auctioned orclosed out as per the rules of the concernedExchange. Consequently, the Client will beresponsible for any resulting losses and allassociated costs including penalty levied by theExchange.

7. The Client acknowledges that ICICI Securities,shall not be under any obligation to provide himwith any tax, legal, accounting, investmentadvice or advice regarding the suitability orprofitability of investment of any kind, nor doICICI Securities, give any advice or offer anyopinion with respect to the nature, potentialvalue or suitability of any particular transactionor investment strategy.

8. The Client shall at all times be responsible andliable for his own actions/inaction. The Clientmay be able to access investment researchreports through the Internet from the Website,including computerised services or other media.The availability of such information does notconstitute a recommendation to buy or sell anyof the Investment Products. Any investmentdecisions will be based solely on the Client’sown evaluation of financial circumstances andinvestment objectives. Any real-time quotesprovided are only for the Client’s individual useand the Client shall not furnish such data to anyother person or entity.

9. The Client agrees that each participatingexchange or association or agency thatsupplies any data to be displayed on theWebsite asserts a proprietary interest in all of

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the market data it furnishes to parties thatdisseminate the said data. Neither ICICISecurities, nor any participating exchange orassociation or agency or any supplier ofmarket data guarantees the timeliness,sequence, accuracy, completeness, reliabilityor content of market information, or messagesdisseminated to or by the party. ICICISecurities, services are provided on an “asavailable” basis without warranties of any kind,either express or implied, including, withoutlimitation, those of merchantability and fitnessfor a particular purpose.

10. Neither ICICI Securities, nor any other partydisseminating any data/message/ informationthrough the Website shall be liable for anyinaccuracy, error, omission in or delay in thetransmission or delivery of:(1) Any such data, information or message, or(2) Any loss or damage arising from oroccasioned by:(i) Any such inaccuracy, error, delay or omission,(ii) Non-performance, or(iii) Interruption in any such data, informationor message, due to either any act or omissionby ICICI Securities, or any disseminating partyor to any “force majeure” (e.g., flood,extraordinary weather condition, earthquake orother act of God, fire, war, insurrection, riot,labour dispute, accident, action of government,communications, power failure, equipment orsoftware malfunction) or any other causebeyond the reasonable control of ICICISecurities or any disseminating party.

11. All Investment Products now or hereafter held,carried or maintained by ICICI Securities, in itspossession or control, for any purpose, in orfor the benefit of any of Client, now or hereafteropened, including any account in which Clientmay have an interest, shall be subject to a lienin favour of ICICI Securities, for the dischargeof all indebtedness and Client’s otherobligations to ICICI Securities, and are held byICICI Securities, as security for the payment ofany liability or indebtedness of Client’s to ICICISecurities, in any of said Accounts. The Clientauthorises ICICI Securities to transfer theInvestment Products and other property so heldfrom or to any other of Client’s Accounts withICICI Securities , whenever, in the judgment ofICICI Securities, it is considered that suchtransfer is necessary for the protection of ICICISecurities interest. In enforcing ICICI Securitieslien, ICICI Securities shall have the right anddiscretion to determine which InvestmentProducts and properties are to be sold andwhich contracts or positions are to be closed.In the event of a breach or default by Clientunder this Letter, ICICI Securities shall have allrights and remedies available to a securedcreditor under all applicable law in additionto the rights and remedies provided herein.

12. The Client grants express authority to ICICISecurities for carrying out transactions andinstructions entered by the registeredintermediary on behalf of the Client. ICICISecurities has no obligations to verify theauthenticity of the transactions purported tohave been sent on behalf of the Client. 15. TheClient accepts full responsibility for themonitoring and safeguarding of the Client’saccounts with ICICI Securities and ICICI BANK.The Client shall immediately notify ICICISecuritiesin writing, delivered via e-mail andRegistered AD:(a) If the Client becomes aware of any loss, theftor digital signaturesas the case may be andaccount number; or(b) Any inaccurate information in the accountbalances, Investment Products positions, ortransaction history.

13. If the Client fails to notify ICICI Securitiesimmediately upon the Client’s knowledge whenany of the above conditions occur, neither ICICISecurities nor any of its officers, directors,employees, agents, affiliates or subsidiaries canor will have any responsibility or liability to theClient or to any other person whose claim mayarise through the Client for any claims includingbut not limited to claims arising with respect tothe handling, mishandling or loss of any order.Under no circumstances, including negligence,shall ICICI Securities or anyone involved increating, producing, delivering or managingICICI Securities be liable for any direct, indirect,incidental, special or consequential damagesthat result from the use of or inability to use theservice, or out of any breach of any warranty.

14. The use and storage of any informationincluding, without limitation, the passwords ordigital signatures, as the case may be portfolioinformation, transaction activity, accountbalances and any other information or ordersavailable on the Client’s personal computer isat the Client’s own risk and is the Client’s soleresponsibility. The Client shall be solelyresponsible for providing and maintaining thecommunications equipment (including personalcomputers and modems) and telephone oralternative services required for accessing theaccounts with ICICI Securities /ICICI Bank andusing the web-site orRelated services, and forall communications service fees and chargesincurred by the Client in accessing the Websiteor for such services or related services.

15. The Client is authorised to use materials whichare made available by ICICI Securities servicesor of other third parties on the Website forClient’s own needs only in accordance withthe terms and conditions specified for suchusage, and Client is not authorised to resellaccess to any such materials or to make copiesof any such materials for sale or use by others.The Client will not delete copyright or otherintellectual property rights notices from

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printouts of electronically accessed materials.16. The Client understands, agrees and authorizes

ICICI Securities at its discretion, and withoutfurther prior notice to the Client, to monitor andrecord any or all telephone conversationsbetween the Client on the one hand and ICICISecurities and any of ICICI Securities employeesor agents on the other hand and to monitor theClient’s electronic communications conductedwith ICICI Securities so as to enable them tomaintain an audit trail of all the transactionsexecuted by the Client.

17. The Client shall notify ICICI Securities withinseven days, of any change in the details set outin the application form submitted to ICICISecurities at the time of opening the accountor furnished to ICICI Securities from time totime.

18. The Client acknowledges that he is fully awareof the risks involved in trading activities,including the risk involved due to technicaldifficulties. The Client specifically agrees to holdICICI Securities harmless from any and allclaims, and agrees that ICICI Securities shall notbe liable for any loss, actual or perceived,caused directly or indirectly by governmentrestriction, exchange or market regulation,suspension of trading, war, strike, equipmentfailure, communication line failure, systemfailure, security failure on the Internet,unauthorised access, theft, or any problem,technological or otherwise, or other conditionbeyond the control of ICICI Securities that mightprevent the registered intermediary fromentering an order or ICICI Securities, fromexecuting an order. The Client further agreesthat he will not be compensated by ICICISecurities for “lost opportunity” viz., notionalprofits on buy/sell orders, which could not beexecuted. Furthermore, in a technicalenvironment, should an error occur with respectto the tracking of any account holding or orderentry, the true, actual and correct transactionor position will be restored. It shall be Client’sresponsibility to ensure account correctnessand accuracy and to contact ICICI Securities,immediately in respect of any discrepancies.

19. ICICI Securities may send the order/tradeconfirmation slip/ intimation of successful/unsuccessful applications through e-mail to theClient, within such period as prescribed orreasonably possible/practicable for ICICISecurities to do so from the time of executionof order/trade on the National Exchange forAutomated Trading (NEAT)/ BSE On-LineTrading (BOLT) system or such other third partyas the case may be for effecting purchase/saleor preferring an application for an investmentproduct, as the case may be, or by means ofelectronic record, duly authenticated by ICICISecurities digital signature. The Client agreesthat the information sent by ICICI Securitiesby email is deemed to be a valid delivery of

such information by ICICI Securities.20. The client hereby opts to receive the contract

notes for the trades executed for him/her, is anelectronic form i.e. digitally signed contractnotes. If the client do not wish to receive thecontract notes in electronic format in future he/she will confirm the same in writing to thetrading member.

21. The Client understands that the terms andconditions governing a specific investmentproduct or service will be binding on the Clientonly if such product or service is made availableto the Client and the Client trades in thatinvestment product or avails of that particularservice.

22. Available margin, unless otherwise specificallydescribed for a product, shall mean margincalculated by deducting intra day MTM loss ona position under any facility offered by ICICISecurities at any given point in time.The Client agrees that it will be the client’sresponsibility to ensure that the availablemargin with ICICI Securities is always above theminimum margin levels specified for therespective positions. The client agrees that sinceICICI Securities provides trading facility throughinternet it may not be possible for it to informthe client about short fall in margin, if any, on aone to one basis. The client agrees to monitorhis position on a continuous basis and do theneedful as ,may be required, to safeguard hisposition.

23. The client understands that whenever he placesa Sell (Buy) order in the options segment, whichresults in a position, a Trigger price is calculated(as per the formula displayed on site) which isdisplayed in the Open positions book.Whenever the Underlying price of the sharesgoes above (below) the Trigger price in case ofSell Call (Put), the Contract would be identifiedas short of margin.

24. The Client understands and agrees that I-Secmay, at its sole discretion, determine thefrequency and the time for running the Mark toMarket Process, the process by which ICICISecurities shall identify open positions in theDerivatives segment for which Available marginis below the Minimum Margin and take steps,for collecting the required additional margin orsquaring off such positions. The Clientunderstands and agrees that the said processis run at stipulated intervals and not run on areal time basis.The Client is aware that the process identifiesshortfall on individual position level, except incase of spread position. Square off is initiatedLot wise for each position after which thesystem recalculates margin requirements andthen initiates further square off.For treatment regarding spread positions andother details on the features of the products,the client is aware that he will have to refer the

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online Terms and Conditions on the site. ICICISecurities shall not be required to make amargin call or otherwise inform the Client thatthe margin as furnished by the Client has fallenbelow the required level and it shall be theresponsibility of the Client to regularly monitorand review the Margin availability and furnishthe additional Margin to ICICI Securities.

25. The client understands and agrees that he isbound by the online Terms and Conditions andFrequently Asked Questions (FAQs) as postedon the site or communicated by I-Sec and asmodified from time to time. For productswhich are dealt on Stock Exchanges, ICICISecurities shall follow the process as per theapplicable rules and regulations of theconcerned Stock Exchanges for changes interms and conditions.

26. In case of short fall in margin ICICI Securitieswill check for availability of additional limits inclients account to see whether adequateadditional limits are available to restore themargin level to the initial margin levels and ifno such limits are available then the client’sopen positions may be squared off by ICICISecurities, at its discretion.

27. In case of change in margin % by the StockExchange, ICICI Securities will have toapplicable margin % immediately and anyshortfall in margin on client open position dueto the same will be dealt in the same manner asspecified above.

28. In case ICICI Securities is unable to recover anyamount due from the Client from the bankaccount of the Client, then the Client agrees topay the amount due without demur, on ademand being made by ICICI Securities in thatrespect. The client also hereby authorizes ICICISecurities to debit his/her demat account andsell securities of the client to recover the amountdue

29. The Client hereby agrees to indemnify ICICISecurities and ICICI BANK against any loss(actual or notional), costs, expenses etc., whichmay be suffered by ICICI Securities and/or ICICIBANK and their Group Companies, or againstany claim, demand, action, proceeding that maybe initiated against ICICI Securities and / or ICICIBANK, in connection with this Letter or non-compliance of any applicable rules andregulations or arising out of or in connectionwith due to a breach of any of the Clientobligations under the Client Agreement and/orthis Letter.

30. The client understands that in case accountopening application or an application for invest-ing or subscribing to any other product/serviceis rejected then ICICI Securities and ICICI Bankis not bound to return the application form/ KYCdocuments and the same will be destroyed byICICI Securities or ICICI Bank in case of rejec-tions.

E. MISCELLANEOUS:1. The Client shall not assign any right and

obligations hereunder without first obtainingthe prior written consent of ICICI Securities.ICICI Securities and ICICI Bank, may, however,assign their rights and obligations to any thirdperson without the prior consent of the Client.However, in case of merger/ demerger of theICICI Securities Ltd with another entity / intoanother entity or any other corporaterestructuring, ICICI Securities shall follow theprocess as per the applicable rules andregulations of the concerned Stock Exchanges/Regulators.

2. The Client agrees that the Client would be ableto exercise the right to close/ freeze any of theaccounts with ICICI Securities only if there isno obligation pending to be met by the Clientin favour of either ICICI Securitiesor towards anyother third party through ICICI Securities in anyform.

3. The invalidity or unenforceability of anyprovisions of this Letter in any jurisdiction shallnot effect the validity, legality or enforceabilityof the remainder of this Letter in suchjurisdiction or the validity, legality orenforceability of this Letter, including any suchprovision, in any other jurisdiction, it beingintended that all rights and obligations of theParties hereunder shall be enforceable to thefullest extent permitted by law.

4. The heading of each provision hereof is fordescriptive purposes only and shall not bedeemed to modify or qualify any of the rightsor obligations set forth in each such provision.

5. The Client shall at all times continue to beresponsible for any transaction ordered on hisaccounts prior to the cancellation of theservices. If the service is withdrawn for a reasonother than the breach of the terms andconditions by the Client, the liability of ICICISecurities shall be restricted to the return of theannual charges, if any, recovered from the Clientfor the period in question. The closure of theaccounts of the Client shall automaticallyterminate the brokerage service and ICICISecurities May suspend or terminate tradingfacilities without prior notice if the Client hasbreached these terms and conditions or it learnsof the death, bankruptcy or lack of legal capacityof the Client.

6. The Client agrees that ICICI Bank and / or ICICISecurities may forthwith terminate this Letterof Confirmation by giving a notice to the Clientelectronically or otherwise.

7. The Client agrees that in event the Clientdesires to terminate this letter of confirmationexecuted by the Client in favour of ICICISecurities and ICICI BANK, the Client shall givea written notice to ICICI Securities and ICICI

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Bank of its intention to so do, of at least 30(thirty) days from the date of receipt of thenotice by ICICI Securities/ ICICI Bank and shallobtain written acknowledgement of the receiptof the notice from ICICI Securities and ICICIBank. Such termination shall not have anyeffect on the transactions executed before thedate of such notice of termination and theparties shall enjoy the same rights and shallhave the same obligations in respect of suchtransactions.

8. No forbearance, relaxation, failure or delay byICICI Securities or ICICI BANK in exercising anyright, power or privilege hereunder shalloperate as a waiver thereof nor shall anysingle or partial exercise of any other right,power or privilege. The rights and remediesavailable to ICICI Securities and ICICI BANKherein provided shall be cumulative and notexclusive of any rights or remedies providedby law.

9. Any legal action or proceedings arising out ofthis Letter pertaining to dealings in stockmarket shall be brought in the relevant courtsor tribunals as provided in relevant /concerned Stock Exchange Rule, Regulation,byelaws and Circulars. For other productsICICI Securities and/or ICICI Bank, in theirabsolute discretion can opt to commence thelegal action or proceedings arising out ofthese Letter in the appropriate courts,tribunals or other appropriate forum, and theClient irrevocably submits to the exclusivejurisdiction of such courts and tribunals.I/We further confirm that the aboveconfirmation are in addition to thoseconfirmations given by me/us in the account

opening form, DP Agreement executed byme/us for opening the client account.

10. Any legal action or proceedings arising outExchange traded products shall be governedby Rules, Regulation, Byelaws and Abritrationmechnism of respective Stock Exchange. Anylegal action or proceedings arising for nonExchnage traded products shall be brought inthe courts or tribunals at Mumbai in India andthe Client irrevocably submits to the exclusivejurisdiction of such courts and tribunals. ICICISecurities and/or ICICI Bank may, however, intheir absolute discretion commence any legalaction or proceedings arising out of these termsand conditions in any other court, tribunal orother appropriate forum, and the Client herebyconsents to that jurisdiction.

11 ICICI Securities and/or ICICI Bank may,however, in their absolute discretioncommence any legal action or proceedingsarising out of these terms and conditions inany other court, tribunal or other appropriateforum, and the Client hereby consents to thatjurisdiction.

The client undertstands that in case accountopening application is rejected then ICICISecurities and ICICI Bank is not bound to returnthe application form and documents

Place:

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TERMS & CONDITIONS GOVERNING WEBBASED BROKERAGE TRANSACTION ONICICIDIRECT.COM (THE WEBSITE MAINTAINEDBY ICICI SECURITIES LIMITED)This document contains important informationregarding the terms and conditions which apply toaccount with ICICI Securities Limited (hereinafterreferred to as “ICICI Securities”), a member ofNational Stock Exchange and The Bombay StockExchange Limited, ICICI Bank Limited (hereinafterreferred to as “ICICI BANK”), a companyincorporated under the Companies Act, 1956 andlicensed as a banking company under the BankingRegulation Act, 1949 & ICICI Bank Limited(hereinafter referred to as “DEPOSITORYPARTICIPANT”), a company incorporated under theCompanies Act, 1956 and licensed as a bankingcompany’ a Depository Participant & Custodian (ICICISecurities, ICICI Bank and Depository Participant arecollectively referred to as ICICI, wheresoever thecontext so requires). The access to and use of theaccount and the various services provided by ICICISecurities, ICICI BANK, DEPOSITORY PARTICIPANTand their affiliates are subject to Client's compliancewith the terms and conditions setforth herein. Terms& Conditions pertaining to a specific service shall beapplicable only in case the client avails of thatparticular Service. TERMS & CONDITIONS GOVERNING ICICISECURITIES LIMITED1. ORDER EXECUTION

Though orders are usually routed through themarketplace within seconds, certain orders, atICICI Securitiessole discretion, may be subject tomanual review and entry, which may cause delaysin the processing of their orders. Clients alsounderstand that with respect to market order,Clients will receive the price at which their orderwas actually executed in the marketplace, whichmay be different from the price at which thesecurity is traded when their order is entered intothe system.

2. PURCHASE OF SECURITIES – IN CASHPRODUCTTo process orders to purchase securities, it isnecessary that accounts contain buying power

before the execution of order. Any orderinadvertently accepted and executed withoutsufficient buying power will be subject tocancellation or liquidation at ICICI Securitiesdiscretion. ICICI Securities shall not be responsiblefor any loss incurred by the Client on account ofliquidation of the said position. However, Clientsare responsible for all of their orders, includingany orders, which exceed available limit in theiraccount. If limits are not available in the accountand an order is processed, the Clients shouldcredit the required fund in their Bank Account withICICI BANK via wire or cheque, cashier’s chequeor money order or account transfer or any othermode, promptly to assure that such payment willbe received and processed on or prior tosettlement date or intimated date, whichever isearlier. If payment is not received by settlementdate or intimated date, whichever is earlier, theirposition may be squared off, without priornotification. In the event their account isliquidated, Clients will be liable for any resultinglosses and all associated costs incurred by ICICISecurities.

3. SALES OF SECURITIES – IN CASH PRODUCTTo process orders to sell securities, it is necessarythat accounts contain sufficient Free SecuritiesBalance in the Security Demat Account withDepository Participant prior to the acceptance ofa sell order or the physical shares in the custodyof ICICI Securities. Proceeds of the sale cannotbe paid to Clients until securities have beendelivered to the Exchange/clearing house & payout is received from the Exchange/ClearingHouse. The proceeds of all sales will be creditedto the account directly on settlement date. If thesecurities are not received on or before settlementdate or securities received are not in deliverablestate or due to any other reason whatsoever,Clients are not able to get delivery of securities,the securities will be Auctioned or closed out asper the rules of the concerned Exchange.Consequently, Clients will be responsible for anyresulting losses and all associated costs includingpenalty levied by the Exchange.

"This document is voluntary, however, the same is required to be executed by the customers in order toavail of seamless online trading platform with integrated bank account, demat account and online brokingaccount. If you do not wish to use the services of ICICI Bank Limited and ICICI Securities Limited, you neednot execute such documents."

TERMS & CONDITIONS

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No further queries/claims will be entertained inthis regard.

4. CONFIRMATIONS, STATEMENTS, NOTICESAND OTHER COMMUNICATIONS:ICICI Securities shall send the Clientselectronically the Contract Note/TradeConfirmation of the trades executed on theirbehalf on the trade date. Clients understand thatit is their responsibility to review, upon firstreceipt, whether delivered to Clients by mail,by e-mail, or other electronic means, allconfirmations, statements, notices and othercommunications, including but not limited to,margin, maintenance calls, and prospectuses.All information contained therein shall bebinding upon Clients, if Clients do not object,either in writing or via electronic mail, withinTwenty Four hours after any such document issent to Clients. In all cases, ICICI Securitiesreserves the right to determine the validity oftheir objection to the transaction. Notices andother communications may also be providedto Clients verbally. Clients agree that ICICISecurities fulfils its legal obligation to deliver toClients any such document if sent via electronicdelivery. Documents sent by electronic deliverywill contain all the information as it appears inthe printed hardcopy version as prepared anddistributed by the originator, with the possibleexception of graphic insertions such asphotographs or logotypes. Electronic deliverymay be in the form of an email, an electronicmail attachment, or in the form of an availabledownload from the web site. Clients representthat Clients will download the relevantdocument promptly after receiving notice of itsavailability. Should Clients experience anydifficulty opening a document electronicallydelivered by ICICI Securities, Clients willpromptly advise ICICI Securities in order to allowICICI Securities to make the required deliveryby other means. Failure to advise ICICI Securitiesof such difficulty within Forty eight hours afterdelivery shall serve as an affirmation that Clientswere able to receive and open said document.

5. SALES OF SECURITIES AND PURCHASE OFSECURITIES - IN MARGIN PRODUCTShort SalesBefore executing any sell order Clients shouldhave funds in their Bank account with ICICIBANK equal to or greater than margin money.Any order accepted without free stock balancein the account would be deemed a short sale.Short Sales can be settled by squaring off the

trade within same trade cycle. Clients agree andunderstand that if Clients not square off theposition by the stipulated time before the closeof market hours on the last day of the tradingcycle, ICICI Securities has all the rights to squareoff the position on the same day or on any laterdate. Any such purchases may be made at anytime at ICICI Securities discretion on anyexchange or other market where such businessis usually transacted, or at public auction, orICICI Securities may be the purchaser for ICICISecurities own account. Clients are responsiblefor any losses or expenses incurred by ICICISecurities as a result of their failure to makesuch delivery/Square off the trade. As and whenSEBI and its Regulatory bodies come up withnew circulars, notifications or guidelines withrespect to operations, trading and other relatedmatters ICICI Securities will be modifying theterms and conditions to meet the requirements.Long BuysBefore executing any buy order Clients shouldeither have funds in their Bank account withICICI BANK equal to or greater than marginmoney. Any long buys can be settled bysquaring off the trade within same trade cycle.Clients agree and understand that if Clients donot square off the position by the stipulated timebefore the close of market hours on the last dayof the trading cycle, ICICI Securities have allrights to square off the position on the sameday or on any later date. Any such sales maybe made at any time at ICICI Securitiesdiscretion on any exchange or other marketwhere such business is usually transacted, orprivate sale, or ICICI Securities may be the sellerfor ICICI Securities own account. Clients areresponsible for any losses or expenses incurredby ICICI Securities as a result of their failure tomake payment/Square off the trade.

6. CALLS FOR ADDITIONAL COLLATERAL ANDLIQUIDATIONIf it is considered necessary for its ownprotection, ICICI Securities may require theClients to immediately deposit cash or collateralinto their account prior to any applicablesettlement date in order to assure dueperformance of their open contractualcommitments. If Clients do not provide theadditional cash or collateral, Clients herebyunderstand and acknowledge that ICICISecurities has the right to sell any or allsecurities and other property in their account,buy any or all securities and other propertywhich may be short in their account, cancel any

45

or all open orders and/or close any or alloutstanding contracts. In addition, Clientsunderstand and agree that ICICI Securities mayexercise any or all of the above rights withoutdemand for additional cash or collateral, ornotice of sale or purchase, or other notice oradvertisement. Any such sales or purchasesmay be made at any time at ICICI Securitiesdiscretion on any exchange or other marketwhere such business is usually transacted, orat public auction or private sale, or ICICISecurities may be the purchaser/seller for itsown account. It is understood that giving of anyprior demand or call or prior notice of the timeand place of such sale or purchase shall not beconsidered as a waiver of ICICI Securities legalright to sell or buy without any such demand,call or notice.

7. AUTO SQUARE OFFClients agree that ICICI Securities would havethe discretion to square off the position ofClients in following circumstances: In case ofMargin Trades, if the open position is neithersquared off nor converted to Delivery by Clientswithin the stipulated time. In case of MarginTrades, where Mark to Market Loss on the openposition has reached the stipulated % of themargins placed with ICICI Securities and theClients have not taken any steps either toreplenish the margin or reduce the Mark toMarket Loss, ICICI Securities would have thesole discretion to decide the above referredstipulated %, depending upon the marketconditions. In all other cases where the marginor security placed by the Clients falls short ofthe requirement or where the limits given tothe Clients have been breached or where theClients have defaulted on their existingobligation Clients agree that although the autosquare off trigger point is pre-defined,subsequent to which ICICI Securities couldexercise its discretion to carry out the off withina reasonable period of time, the actualexecution could happen at a price different fromthe trigger point and the Clients agree to bearthe loss based on actual executed price. ICICISecurities shall also have the right to cancel anyor all open orders and/or close any or alloutstanding contracts. Clients understand thatin case the Auto Square off does not take placedue to certain reasons like price band, etc. thenICICI Securities shall exercise the option of CTD(Convert to Delivery). If CTD also fails due tonon-availability/shortage of Demat shares, thenfor the open sale position, the Clients will haveto face auction or close out as per the rules ofthe concerned Exchange. Consequently, Clientswill be responsible for any resulting losses andall associated costs including penalty levied bythe Exchange. If CTD also fails due to insufficientfunds/no funds, then for the open buy position,the shares will not be delivered to the Clientsand ICICI Securities will liquidate the sharesanytime and the Clients will be liable for anyresulting losses and all associated costsincurred by ICICI Securities.

8. TERMINATION OF SERVICE

The facility may be withdrawn anytime by ICICISecurities provided the Clients are givenreasonable notice under the circumstances. Ifthe service is withdrawn for a reason other thanthe breach of the terms and conditions by theClients, ICICI Securities liability shall berestricted to the return of the annual charges, ifany, recovered from the Clients for the periodin question. In case the Demat Account is closedby the client during the year, no pro-rata refundof annual charges will be made. The closure ofall accounts of the Clients will automaticallyterminate the icicidirect.com service. ICICISecurities may suspend or terminate tradingfacilities without prior notice if the Clients havebreached these terms and conditions or IWTlearn of the death, bankruptcy or lack of legalcapacity of the Clients.

TERMS & CONDITIONS GOVERNINGTRANSACTION WITH ICICI BANK LIMITED

1 The Client shall be entitled to operate hisaccount (referred to as "Web Banking" accountor service or "Account") though the use of WebBanking service offered by ICICI BANK whichmay be withdrawn at any time at the solediscretion of ICICI BANK.

2 ICICI BANK shall endeavour to provide the Clientthrough Web Banking, services such as balanceenquiry for his account, transaction details,statement of account, cheque-book request,request for transfer of funds between accountsof the same Client and such other facilities asICICI BANK may decide to provide from time totime. These facilities shall be offered in a phasedmanner at the discretion of ICICI BANK. ICICIBANK may also make additions/deletions to theservices offered through Web Banking at its solediscretion. The availability/non-availability of aparticular service shall be intimated to theClients though e-mails and/or webpage of ICICIBANK or may be displayed on the Website.

3 ICICI BANK shall take reasonable care to ensuresecurity of and prevent unauthorised access tothe Web Banking Service, using technology,reasonably available to it.

4 ICICI BANK shall allot to the Client the Client-Identification and secret passwords or requirethe usage of digital signatures while openinghis account. The Client will be required tochange the passwords assigned by ICICI BANKon accessing Web Banking for the first time.ICICI BANK will not be liable in any case whereinthe Client has not changed the passwords afterhe has first been issued to them. As a safetymeasure the Client shall change the passwordsas frequently thereafter as possible.

5 The Client shall at all times comply with suchdirections/instructions as may be issued by ICICIBANK, including but not limited to themaintenance of a minimum balance in theaccount, payment of service charges, etc. ICICIBANK may, in its sole discretion, levy penalcharges for non-maintenance of the minimumbalance as stipulated from time to time. Anychange in the fees shall be notified on ICICIBANK's website 15 days prior to the changestaking effect. The Client authorizes ICICI BANK

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to recover all charges related to Web Banking asdetermined by ICICI BANK from time to time bydebiting the Client's account.

6 All transaction to be executed through the Clientsaccount shall be subject to the availability ofsufficient funds and ICICI BANK shall not be liablefor any omission to make all or any of the paymentor for late payment due to circumstances beyondthe reasonable control of ICICI BANK.

7 The Client is responsible for the accuracy ofinformation supplied to ICICI BANK through theuse of Web Banking or through any other meanssuch as electronic mail or written communication.ICICI BANK accepts no liability for theconsequences arising out of erroneousinformation supplied by the Client. If the Clientsuspects that there is an error in the informationsupplied to ICICI BANK by him or notices an errorin the information supplied to him through WebBanking then he shall intimate ICICI BANK as soonas possible and ICICI BANK shall endeavour tocorrect the same, wherever possible, on a 'bestefforts' basis.

8 The Client shall be liable for any loss caused toICICI BANK due to any unauthorized transactionsin the Web Banking account if he has breachedany of the terms of usage of Web Banking orcontributed or caused the loss in any manner.Provided that nothing contained herein shall beconstrued in such a manner so as to hold theClient liable for any unauthorised transactionsoccurring through the use of Web Banking that isattributable, after a due enquiry, to the fraudulentor negligent conduct of employees of ICICI BANK.

9 ICICI BANK shall under no circumstances be heldliable by the Client in case of Web Banking accessnot being available in the desired manner forreasons including but not limited to naturalcalamity, floods, fire and other natural disasters,legal restraints, faults in the telecommunicationnetwork or Internet or network failure, softwareor hardware error or any other reason beyond itscontrol. Under no circumstances shall ICICI BANKbe liable for any damages whatsoever whethersuch damages are direct, indirect, incidental,consequential and irrespective of whether anyclaim is based on the loss of revenue, investment,production, goodwill, profit, interruption ofbusiness or any other loss of any character ornature whatsoever and whether sustained by theClient or any other person.

10 The Client agrees that the Bank or itsrepresentatives/contractors may hold andprocess Information pertaining to the Client oncomputer or otherwise in connection with WebBanking services as well as for statistical analysisand credit scoring. The Client also agrees that theBank may disclose, in strict confidence, to otherinstitutions, such Client Information as may bereasonably necessary for reasons inclusive of, butnot limited to, the following:(a) For participation in any telecommunication orelectronic clearing network;(b) In compliance with a legal directive;(c) For credit rating by recognised credit scoringagencies; and/or(d) For fraud prevention purposes.

11 ICICI Bank shall have the right of set-off,irrespective of any other lien or charge, presentas well as future on the deposits held in theClient's Primary account(s), to the extent of alloutstanding dues, whatsoever, arising as a resultof the Web Banking Service extended to and/orused by the Client.

12 The Client acknowledges that the softwareunderlying the Web Banking Service as well asother Internet related software which are requiredfor accessing Web Banking are the legal propertyof the respective vendors and the Client shall notattempt to modify, translate, disassemble,decompile or reverse engineer the softwareunderlying the service. The permission given byICICI BANK to access. Web Banking shall notconvey any proprietary or ownership rights in theabove software.

13 The Client expressly authorizes ICICI BANK toblock the amount required to settle the obligationsof the Client against the desired limits and in caseof the execution of the order, either in part or infull debit the Clients account to the extentnecessary to settle the obligations and credit ICICISecurities Account. Client agrees that Client shallnot be permitted to withdraw, issue a cheque orotherwise use the blocked/allocated funds in hisaccount. ICICI BANK reserves all its right todishonour their instruction/cheque that may beissued against the blocked/allocated amount.Client also understands & agrees that blocking offunds against their order and allocated funds willbe given priority over all other instructions orcheques given by either the Client or hisauthorized representative.

14 The Client agrees that the Bank may prescribecertain additional terms and conditions for thepurpose of offering Web Banking service and thatthe client can utilise such service only after heagrees to abide by all such terms and conditions.

REPRESENTATIONS AND WARRANTIES OFTHE CLIENT

1. The Client affirms, and shall continue to affirmevery time an order is placed throughICICIdirect.com or an application preferred, as thecase may be, that all information provided andthe statements made in the Account OpeningForm are true and are not misleading (whetherby reason of an omission to state a particular factor otherwise as at the time of completing theAccount Opening Form or any time thereafter).The Client agrees that ICICI BANK have agreedto provide to the Client services at icicidirect.combased on the representations contained thereinand in this Agreement.

2. The Client has the required legal capacity to enterinto this Agreement and is capable of performinghis obligations and undertakings hereunder.

3. The Client shall, at all times, be responsible forhis investment decisions and/or orders placed,or applications preferred by the Client, eitherelectronically or otherwise. Client shall not hold,nor seek to hold ICICI BANK and/or any of theirofficers, directors, employees, agents,subsidiaries or affiliates, liable for any lossincluding but not limited to trading losses incurredby the Client.

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4. The Client agrees & authorises ICICI Bank to blockany security sold from the designated securityaccount against his order or the order of hispower of attorney holder to sell securities. If theirorder gets executed either fully or partially thenthe securities sold would be transferred to theICICI Securities Account & the balance securities,if any, would be unblocked on the trade date. TheClient agrees and confirms that ICICI Bank shallnot permit the Client to pledge or otherwise useany security that has been blocked by the Clientor by its power of attorney holder at any time,and ICICI Bank shall be deemed to have reservedall rights to dishonour any such instruction by theClient.

C. OTHER TERMS1 The Transactions executed by the Parties

pursuant to this Agreement shall at all times besubject to Government Notifications, the relevantstatutory rules, regulations, Bye laws, customsand/or usage of the concerned regulatory bodyhaving jurisdiction over the transaction withrespect to the particular Investment Product.

2 Neither ICICI BANK nor any other partydisseminating any data/message/informationthrough the Website shall be liable for anyinaccuracy, error, omission in or delay in thetransmission or delivery of:(1) Any such data, information or message, or(2) Any loss or damage arising from or occasionedby(i) Any such inaccuracy, error, delay or omission,(ii) Non-performance, or(iii) Interruption in any such data, information ormessage, due to either any act or omission byICICI BANK or any disseminating party or to any"force majeure" (e.g., flood, extraordinary weathercondition, earthquake or other act of God, fire,war, insurrection, riot, labour dispute, accident,action of government, communications, powerfailure, equipment or software malfunction) or anyother cause beyond the reasonable control ofICICI BANK or any disseminating party.

3. All Investment Products now or hereafter held,carried or maintained by ICICI BANK in theirpossession or control, for any purpose, in or forthe benefit of any of Clients accounts, now orhereafter opened, including any account in whichClient may have an interest, shall be subject to alien in favour of ICICI BANK for the discharge ofall indebtedness and Client's other obligations toICICI BANK, and are held by ICICI BANK assecurity for the payment of any liability orindebtedness of Client's to ICICI BANK in any ofsaid accounts. Client authorises ICICI BANK andICICI BANK shall have the right to transfer theInvestment Products and other property so heldfrom or to any other of Client's accounts at ICICIBANK whenever, in the judgement of ICICI BANK,it is considered that such transfer is necessaryfor the protection of ICICI BANK. In enforcingICICI BANK 's lien, ICICI BANK shall have the rightand discretion to determine which InvestmentProducts and properties are to be sold and whichcontracts or positions are to be closed. In theevent of a breach or default by Client under thisAgreement, ICICI BANK shall have all rights and

remedies available to a secured creditor underall applicable law in addition to the rights andremedies provided herein.

4. The Client acknowledges, represents andwarrants that he has received/shall receive suchpasswords or digital signatures, as the case maybe, which provides access to the Client's accountand that the Client is the sole and exclusive ownerand shall be used by him of such passwords ordigital signatures, as the case may be, and acceptsole responsibility for use, confidentiality andprotection of the password or digital signature,as the case may be, as well as for all orders andother information changes entered using such apassword or digital signature, as the case maybe. Any transaction instruction entered using thepasswords or digital signatures, as the case maybe, shall be deemed to have been entered by theClient or his duly authorised agents/representatives.

5. The client is aware that the transaction statementswhich are being provided through icicidirect.comand/or any other website as may be intimated tothe client, may be accessed by other entities incase the confidentiality / secrecy of the passwordis compromised by the client

6. The Client grants express authority to ICICI Bankfor carrying out transactions and instructionsauthenticated by the password provided to theClient. ICICI Bank has no obligations to verify theauthenticity of any transaction instruction sent orpurported to have been sent from the Client otherthan by means of verification of the Client'spassword.

7. The use and storage of any information including,without limitation, the passwords or digitalsignatures, as the case may be portfolioinformation, transaction activity, account balancesand any other information or orders available onthe Client's personal computer is at the Client'sown risk and is the Client's sole responsibility.Client is responsible for providing andmaintaining the communications equipment(including personal computers and modems) andtelephone or alternative services required foraccessing and using the website or relatedservices, and for all communications

8. Client understands that ICICI BANK may at anytime, at the sole discretion and without priornotice to Client, prohibit or restrict Client's accessto the use of the website or related services andClient's ability to transact. ICICI BANK may jointlyor severally terminate the Client's account at anytime for any reason. The closing of an accountwill not affect the rights and/or obligations ofeither party incurred prior to the date the accountis closed.

9. The Client understands, agrees and authorizesICICI BANK at their discretion, and without furtherprior notice to the Client, to monitor and recordany or all telephone conversations between theClient on the one hand and ICICI BANK and anyof ICICI BANK's employees or agents on the otherhand and to monitor the Client's electroniccommunications conducted with ICICI BANK soas to enable them to maintain an audit trail of allthe transactions executed by the Client.

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10.The Client shall notify ICICI BANK within sevendays, of any change in the details set out in theapplication form submitted at the time of openingthe account or furnished to ICICI BANK from timeto time.

11.The Client acknowledges that he is fully aware ofthe risks involved in online trading activities,including the risk involved due to unauthorizedaccess or any technical difficulties. Clientspecifically agrees to hold ICICI BANK harmlessfrom any and all claims, and agrees that ICICIBANK shall not be liable for any loss, actual orperceived, caused directly or indirectly bygovernment restriction, exchange or marketregulation, suspension of trading, 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 BANK that mightprevent the Client from entering a transactioninstruction or ICICI BANK from executing atransaction. Client further agrees that he will notbe compensated by ICICI BANK for "lostopportunity" viz., notional profits on buy/sellorders which could not be executed. Furthermore,in a technical environment, should an error occurwith respect to the tracking of any accountholding or order entry, the true, actual and correcttransaction or position will be restored. It isClient's responsibility to ensure accountcorrectness and accuracy and to contact ICICIBANK immediately in respect of anydiscrepancies.

12.ICICI BANK may at any time amend thisagreement, by modifying or rescinding any of theexisting provisions or conditions or by adding anynew provision or condition, by conspicuouslyposting notice of such amendment on the websiteor by providing email notice or written notice toClient. The continued use of ICICI BANK's servicesafter such notice shall constitute acknowledgmentand acceptance of such amendment. Certainpolicies and/or procedures may be furtheroutlined on the ICICI Securities and/or ICICI BANKwebsite, if any, and by the Client's use of thewebsite and services, the Client agrees to bebound by any and all such postings. The Clientmay not assign any right and obligationshereunder without first obtaining the prior writtenconsent by an authorised officer of ICICI BANK.

13.ICICI BANK may, however, assign their rights andobligations to any third person without the priorconsent of the Client.

14.The Client agrees that the Client would be ableto exercise the right to close/freeze any of theaccounts with ICICI BANK only if there is noobligation pending to be met by the Client infavour of either ICICI BANK or towards any otherthird party through ICICI BANK in any form.

15.The invalidity or unenforceability of anyprovisions of this Agreement in any jurisdictionshall not effect the validity, legality orenforceability of the remainder of this Agreementin such jurisdiction or the validity, legality orenforceability of this Agreement, including anysuch provision, in any other jurisdiction, it beingintended that all rights and obligations of the

Parties hereunder shall be enforceable to thefullest extent permitted by law.

16.The Client shall at all times continue to beresponsible for any transaction ordered on hisaccounts prior to the cancellation of the services.If the service is withdrawn for a reason other thanthe breach of the terms and conditions by theClient, the liability of ICICI BANK shall be restrictedto the return of the annual charges, if any,recovered from the Client for the period inquestion. The Client agrees that incase the DematAccount is closed by the Client during the year,no pro-rata refund of annual charges will bemade. The closure of the bank/demat accountsof the Client shall automatically terminate the webbased brokerage service facilitated byICICIDirect.com. ICICI BANK may suspend orterminate trading facilities without prior notice ifthe Client has breached these terms andconditions or it learns of the death, bankruptcyor lack of legal capacity of the Client.

17.No forbearance, relaxation, failure or delay by anyParty in exercising any right, power or privilegehereunder shall operate as a waiver thereof norshall any single or partial exercise of any otherright, power or privilege. The rights and remediesherein provided shall be cumulative and notexclusive of any rights or remedies provided bylaw.

18.ICICI BANK may in their sole discretion close theaccounts of the Client in the event of death orinsolvency or lack of legal capacity of the client.

19.ICICI Bank may, in its discretion, send anydocument that is obligatory to be sent to the Clientby means of an electronic communication, withthe possible exception of graphic insertions suchas photographs or logotypes this electroniccommunication may be in the form of e-mail oran email attachment or displayed at the Website.Every document so sent or displayed shall containall such information as is mandated by theconcerned statutory and/or regulatory authority.ICICI Bank would be deemed to have fulfilled itslegal obligation to deliver a document to theClient, if it is sent or displayed by the electronicmode. The Client shall download the saiddocument(s) regularly and also promptly onintimation of a notice, if any, of its display.Provided that on a request being made by theClient, due to a difficulty experienced by the Clientin viewing the same, ICICI Bank may in itsdiscretion make the required delivery by suchother means, as it may deem appropriate. Thedocument shall be deemed to have been dulydelivered and its content accepted by the Clientif there is no intimation received by ICICI Bankwithin twenty-four hours from the date of deliveryor display of the document.

20.ICICI Bank shall at no time be deemed to be liableto the Client for any losses, liabilities and/orexpenses arising from or out of the claims of anyother party including any liability in the nature ofany statutory charge, fees or tax in respect ofsecurities credited to the Client's account.

21.The Client shall cause to be submitted, allnecessary documents including the status of thesecurities, that may be necessary for the legal

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transfer of securities, which require regulatorypermissions for their transfer, if any to ICICI Bank.The transfer of these securities shall be subjectto a clear legal title and such other delays as maybe occasioned due to the processing of suchsecurities. All costs associated with thecompliance or failure to comply with thenecessary regulatory requirements shall be soleresponsibility of the Client.

22.ICICI Bank shall at no time be under anyobligation to notify the Client of any upcomingexpiration or redemption date or to take anyaction in relation to certain securities includingbut not limited to options, warrants, stockpurchase rights, convertible securities, bondsand securities subject to a tender or exchangeoffer, which grant the holder thereof valuablerights that may expire unless the holder thereoftakes a particular action. The Client shall bedeemed to absolve ICICI Bank from any statutoryrequirements, legal requirements and / orapplicable rules of regulatory authorities.

23.ICICI Bank will also not be responsible for thetitle, validity or genuineness of any securities,which have been dematerialised and notifiedsubsequently by the registrar of any defects inits title/validity, which has resulted in a reductionof the dematerialised holdings in their account.

24.This Agreement shall at all times take effect ashaving been made, entered into and to beperformed in the city of Mumbai and ICICI BANKand the Client shall be deemed to have submittedto the exclusive jurisdiction of the courts/appropriate forums of/at Mumbai, for the purposeof giving effect to the provisions of thisAgreement. Please note that this clause is notapplicable to Trading A/c.

25.The Client understands that the terms andconditions governing a specific investmentproduct or service will be binding on the Clientonly if such product or service is made availableto the client and the Client trades in thatinvestment product or avails of that particularservice.

26.The Client hereby agrees to indemnify ICICI BANKfor any loss, liability, costs or damages that maybe incurred by all or any of them due to a breachof any of the Client obligations under thisAgreement.

27.The instructions issued by an authorisedrepresentative of the client shall be binding onthe client in accordance with the letter authorisingthe said representative to deal on behalf of theclient.

TERMS AND CONDITIONS GOVERNING THEUSE OF WEB BANKING SERVICE

DEFINITIONSWeb Banking is ICICI BANK’s Internet BankingService, which provides access to accountinformation, products and other services asadvised by ICICI BANK from time to time to itsClients through the Internet. The words “WebBanking” and “Web Banking Service” are usedinterchangeably in this document. Web BankingAccount refers to the Clients’ bank account sodesignated by ICICI BANK to be eligible account(s)

for operations through the use of Web Banking.One of these accounts will be designated asprimary account. All other accounts (if any) of theClients will be called Secondary Account(s).Personal Information refers to the informationabout the Clients obtained in connectionwith the WEB Banking Service. Terms refer toTerms and Conditions for use of Web Banking asspecified in this document.

1. APPLICABILITY OF TERMSThese Terms form the contract between theClients and the ICICI BANK. By applying for WebBanking and accessing the service the Clientsacknowledge and accept these Terms. TheseTerms will be in addition to and not in derogationof the terms and conditions relating to anyaccount of the Client.

2. WEB BANKING ACCESSIn addition to Clients Id and Password ICICI BANKmay, at its discretion, advise the Clients to adoptsuch other means of authentication including butnot limited to digital certification and/or smartcards. The Clients shall not attempt or permitothers to attempt accessing the accountinformation stored in the computers of ICICI BANKthrough any means other than the Web BankingService.

3 MINIMUM BALANCE AND CHARGESICICI BANK may withdraw the Web Bankingfacility, if at any time the amount of deposit fallsshort of the required minimum as aforesaid and/or if the service charges remain unpaid, withoutgiving any further notice to the Clients and/orwithout incurring any liability or responsibilitywhatsoever by reason of such withdrawal.

4 FUNDS TRANSFERThe Clients shall not use or attempt to use WebBanking for funds transfer - as and when thefacility is made available - without sufficient fundsin the relative Web Banking account or without apre-existing arrangement with ICICI BANK for thegrant of an overdraft. ICICI BANK will endeavourto effect such funds transfer transactions receivedthrough Web Banking provided there aresufficient funds available in the Clients’ account.ICICI BANK shall not be liable for any omission tomake all or any of the payment or for late paymentdue to circumstances beyond the reasonablecontrol of ICICI BANK.

5 AUTHORITY TO ICICI BANKBanking transactions in the Clients’ Web Bankingaccount(s) are permitted through Web Bankingonly after authentication of the Clients-Id andpassword of the Clients. The Clients grant expressauthority to ICICI Bank for carrying out the bankingtransactions performed by them through WebBanking. ICICI BANK shall have no obligation toverify the authenticity of any transaction receivedfrom the Clients through Web Banking orpurporting to have been sent by the Clients viaWeb Banking other than by means of verificationof the Clients-Id and the password. The displayor printed output that is produced by the Clientsat the time of operation of Web Banking is a recordof the operation of the Internet access and shallnot be construed as ICICI Bank’s record of the

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relative transactions. ICICI Bank’s own recordsof transactions maintained through computersystems or otherwise shall be accepted asconclusive and binding for all purposes unlessany discrepancy is pointed out within a week fromthe date of sending the periodical statement tothe Clients or the updation of the passbook.

6. ACCURACY OF INFORMATIONIf the Clients notice an error in the accountinformation supplied to them through WebBanking or by the use of any of the Web Bankingservices, they shall advise ICICI BANK as soon aspossible. ICICI Bank will endeavour to correct theerror promptly and adjust any interest or chargesarising out of the error.

7 LIABILITY OF THE CLIENTS AND ICICI BANKThe Clients shall not be liable for any unauthorisedtransactions occurring through the use of WebBanking that can be attributed to the fraudulentor negligent conduct of the employees or agentsof ICICI BANK. If the Clients have complied withthe terms and advises ICICI BANK in writing underacknowledgement immediately after they suspectthat their Clients Id or password is known toanother person and/or notices an unauthorisedtransaction in the Web Banking account, they shallnot be liable for losses arising out of theunauthorised transactions occurring in the WebBanking accounts after the receipt of such adviceby ICICI BANK. The Clients shall be liable for someor all loss from unauthorised transactionin theWeb Banking accounts if they have breached theterms or contributed or caused the loss bynegligent actions such as the following: Keepinga written or electronic record of Web Bankingpassword. Disclosing or failing to take allreasonable steps to prevent disclosure of the WebBanking Clients-Id or password to anyoneincluding ICICI BANK staff and/or failing to adviseICICI BANK of such disclosure within reasonabletime. Not advising ICICI BANK in a reasonabletime about unauthorised access to or erroneoustransactions in the Web Banking accounts. ICICIBANK shall not be liable for any unauthorisedtransactions occurring through the use of WebBanking that can be attributed to the fraudulentor negligent conduct of the Clients.

8 NON-TRANSFERABILITYThe grant of facility of Web Banking to a Clients isnot transferable under any circumstances andshall be used only by the Clients.

9 PURCHASE OF SECURITIESClients agree & authorise ICICI BANK to block therequired amount in the designated Bank accountagainst their desired limits and settlementobligations. If its order gets executed either fullyor partially then the amount equal to theirobligation would be transferred to ICICI SecuritiesAccount on Settlement date. Clients agree thatClients will not be allowed to withdraw, issue acheque or otherwise use the blocked funds intheir account. ICICI BANK reserves all its right todishonour their instruction/cheque issued againstthe blocked amount. Clients also understand &agree that Blocking of funds against their orderwill be given first priority to their other instruction

or cheques, if any. TERMS AND CONDITIONS FOR THE ISSUEAND USE OF DEBIT CUM ATM CARD.

(Hereinafter referred to as ATM Card)10. MEANING OF CERTAIN TERMS

The term "Bank" refers to "ICICI Bank Ltd". "ATM"refers to the Automated Teller Machines installedby the bank. "Card Holder" refers to a Client/s whohave been issued an ICICI Bank ATM Card .

11. ICICI BANK ATM CARD ISSUANCEAn account holder may be issued an ICICI BankATM Card by the Bank at its discretion if he hassatisfactorily conducted savings and/or currentaccount and/or any other type of account sodesignated by the bank to be eligible account(s)for operations through the use of ICICI Bank ATMCard. The account holder shall give his preferenceof such account(s) held by him in writing in therelationship form for issue of ICICI Bank ATM Card.A minor's account or an account in which a minoris a joint account holder is not eligible for issue ofICICI Bank ATM Card. There may be more thanone such account in which case one account shallbe designated as " Primary Account" and theothers as "Secondary Account 1" and "SecondaryAccount 2" at the option of the cardholder.

12.ICICI BANK ATM CARDICICI Bank ATM Card shall be issued to anapproved account holder in respect of his accountto enable him to operate the ATM.

13.ATM FACILITIESThe facilities offered under ATM facility shall bewithdrawal of cash by the cardholder from hisaccount up to a stipulated amount limit only duringa cycle of 24 hours, deposit of cash and chequesin the account, balance enquiry of his account(s),cash/cheque deposits, requisition for an accountstatement, request for change of PIN number,Cheque-book issue request, request for transferof amount from the primary account to thesecondary account(s) or vice-versa and such otherfacilities as the bank may decide to provide, fromtime to time.

14.MINIMUM BALANCE IN PRIMARY ACCOUNTThe cardholder shall maintain, at all times, suchminimum balance in his account, as the Bank maydecide from time to time and the Bank may at itsdiscretion levy such penal or service charges asper the Bank's rules from time to time, or withdrawthe ATM facility, if at any time the amount ofdeposit falls short of the required minimum asaforesaid, without giving any further notice to thecardholder(s) and/or without incurring any liabilityor responsibility whatsoever by reason of suchwithdrawal.

15.FEESAll fees related to the ATM facility as determinedby the bank from time to time may be recoveredby debiting the cardholder's primary account. Incase of insufficient balance in the aforesaidaccount, any of the secondary accounts as mayhave sufficient balance, may be debited.

16.BANK'S LIENThe bank shall have the right of set-off and lien,irrespective of any other lien or charge, present

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as well as future, on the deposits held in thecardholder's primary account and/or, secondaryaccount(s) or in any other account, whether insingle name or joint name(s), to the extent of alloutstanding dues, whatsoever, arising as a resultof the ICICI Bank ATM card services extended toand/or used by the cardholder.

17.MULTIPLE CARDSIn case of joint account(s) either or survivor/anyone or survivor where more than one personhas been issued ICICI Bank ATM Card, all the card-holders put together, shall withdraw only upto thepermissible limit allowed to single card account(s)within the cycle time of 24 hours.

18.NON TRANSFERABILITYICICI Bank ATM Card is not transferable under anycircumstance and shall be used only by thecardholder.

19.PERSONAL IDENTIFICATION NUMBEREach cardholder will be issued a sealed envelopecontaining a four digit number called "PersonalIdentification Number" (PIN) to gain access to theATM services. This number can be changed toany other convenient four digit number by thecardholder at the ATM. The PIN shall under nocircumstances be revealed to any third party. Thecardholder shall be solely responsible for theconsequences arising out of the disclosure of hisPIN and/or unauthorised use of ICICI Bank ATMCard and shall be liable for any increased liabilitywhich he may incur on account of unauthoriseduse of the PIN and ICICI Bank ATM Card. If thecardholder forgets the PIN, he/she should makean application in writing for a fresh PIN. Theselection of a new Personal Identification Numberand/or the replacement of ICICI Bank ATM Cardshall not be construed as the commencement ofa new contract.

20. FUNDS IN THE ACCOUNTSThe cardholder should not use or attempt to useICICI Bank ATM Card without sufficient funds inthe account he wants to operate through the card.

21. LOSS / THEFT OF CARDSThe cardholder shall be responsible for the safecustody of ICICI Bank ATM Card. In case of loss ortheft of the ICICI Bank ATM Card, the cardholdershall advise any of the Branches, of ICICI Bankpreferably the ATM Card issuing branch aspromptly as possible in writing, of the loss of ICICIBank ATM Card, howsoever occurring. Thecardholder shall however be responsible and liablefor all transactions effected by the Client/s of thecard until it is confiscated/cancelled. Another ICICIBank ATM Card will be issued to the cardholderin lieu of lost/stolen ICICI Bank ATM Card, uponrequest in writing and payment of issue fee.

22.AUTHORITY TO DEBIT THE ATM LINKEDACCOUNTThe cardholder alongwith the joint accountholder(s), if any, shall authorise the bank to debitthe account(s) with the amount of withdrawals,or transfers effected by the use of ICICI Bank ATMCard, as per the Bank's records. The Bank's recordfor transactions processed by the ATM machineshall be binding on all the joint account holders,

jointly and severally.23. DEPOSITS

The amount of cash/cheque deposits shall beverified by two members of the Bank's staff, oneof who will be an officer. The amount verified bythe Bank shall be deemed to be the correct amountdeposited by the cardholder. The statement issuedby the ATM at the time of deposit only representswhat the cardholder purports to have depositedand will not be binding on the bank. If there aresoiled, mutilated notes in such deposits, theacceptance of such deposits shall be subject tofinal acceptance and reimbursement by RBI as perthe note refund rules. Cheques will be acceptedfor collection only and the proceeds will not beavailable until they have been cleared. Depositsof foreign currency cash/cheques/spoiled andmutilated notes or any other deposits that areunacceptable, shall be returned, at the cardholderscost, risk and responsibility.

24.RESPONSIBILITY FOR ALL TRANSACTIONSTHROUGH THE ATMs

Operations through the ATM facility on thecardholders account(s) can only be through theuse of ICICI Bank ATM Card on the machine. Thecardholder shall in all circumstances, accept fullresponsibility for all transactions processed by theuse of his ICICI Bank ATM Card, whether or notprocessed with the cardholder's knowledge orauthority, express or implied. The printed outputthat is produced at the time of operation of theATM is a record of the operation of the ATM andshall be construed as the Bank's records. TheBank's records of transactions shall be acceptedas conclusive and binding for all purposes.

25.CLOSURE OF ACCOUNT(S)If the cardholder desires to close his account(s)or withdraw any ICICI Bank ATM Card linkeddeposit, or even otherwise decides to terminatethe use of the ICICI Bank ATM Card facility, he shallgive a written notice of at least two days andsurrender ATM Card to the Bank. The cardholdershall also pay dues, if any, payable to the Bank inconnection with the ATM facility.

26. CHANGE OF TERMS AND CONDITIONSThe bank has the absolute discretion to withdrawthe ICICI Bank ATM Card, the services therebyprovided, or amend or supplement any of theabove terms and conditions at any time withoutprior notice to the cardholder.

27.HONOURING THE CARDThe Bank shall in no circumstances be held liableto the cardholder if ICICI Bank ATM Card is nothonoured in the desired manner for whatsoeverreason, or if the ATM is destroyed or notfunctioning due to power failure, temporaryinsufficiency of cash in the ATM or any otherreason. The Bank will not be liable for anyconsequential or indirect loss or damage arisingtherefrom.

28.OWNERSHIP OF ICICI BANK ATM CARDICICI Bank ATM Card shall be the property of theBank and will be surrendered to the Bank onrequest or in the event of the cardholder no longerrequiring the service. The Bank reserves the rightto disclose, in strict confidence, to other

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institutions, such information concerning thecardholder's account as may be necessary orappropriate in connection with its participationin any ATM or electronic fund transfer network.

TERMS & CONDITIONS GOVERNINGTRANSACTIONS IN DEMATERIALISEDSECURITIES

1. “CONTROL” OR “RESTRICTED” SECURITIES:Even if the necessary documents are furnishedin a timely manner, there may be delays with theprocessing of such documents / instructionsrelating to the securities. ICICI Securities, at itssole discretion, may require that such securitiesnot be sold/bought or transferred until they arein fact legally transferable. Clients are responsiblefor all costs associated with compliance or failureto comply with all the regulatory requirements.

2. CLIENTS’ RESPONSIBILITY REGARDINGCERTAIN SECURITIESCertain securities may grant the holder thereofvaluable rights that may expire unless the holdertakes action. These securities include, but are notlimited to, options, warrants, stock purchaserights, convertible securities, bonds and securi-ties subject to a tender or exchange offer. Clientsare responsible for knowing the rights and termsof all securities in their account. If, due to areorganisation or book keeping or data entryerror, Clients sell more shares of a security thanClients own, then DEPOSITORY PARTICIPANT willnot be responsible for any losses Clients mayincur.

GENERAL TERMS AND CONDITIONS/REPRESENTATIONS AND WARRANTIES.

1. The Clients agree to indemnify and hold ICICISecurities, ICICI BANK and DEPOSITORYPARTICIPANT harmless against any loss that maybe suffered by it, its customers or a third party orany claim or action that may be initiated by a thirdparty which is in any way the result of improperuse of the Web Banking, digital signatures, userID and password by the Clients or its authorisedusers.

2. The Client represents to ICICI (whichrepresentations will be deemed to be repeatedby the Client on each date on which a Transactionis entered into) that: -

(i) The Client has the power to perform itsobligations hereunder and has taken allnecessary action to authorise such execution,delivery and performance;

(ii) It shall be the sole responsibility of the Clientto comply with all the internal approvals if anyfor entering into Transactions as may berequired.

(iii)Such execution, delivery and performancedoes not violate or conflict with any lawapplicable to it and/or any regulatoryrequirements, any provision of its constitu-tional documents, any order or judgment ofany court or other agency of governmentapplicable to it or any of its assets or anycontractual restriction binding on or affectingit or any of its assets;

(iv)There is not pending or, to its knowledge,threatened against the Client any action, suitor proceeding at law or in equity or before anycourt, tribunal, governmental body, agency orofficial or any arbitrator that is likely to affectthe legality, validity or enforceability against itof these Terms and Conditions or its ability toperform its obligations; and

(v)All applicable information that is furnished inwriting, by or on behalf of the Client, to ICICISecurities is, as of the date of the information,true, accurate and complete in every materialrespect. Provided that the Client shall intimateICICI Securities of any change in anyregulatory requirements, the effect of whichmay be to restrict or prohibit the Client fromexecuting any Transaction.I/We have read and accepted the aboveterms and conditions.

TERMS & CONDITIONS GOVERNINGONLINE INVESTING IN MUTUAL FUNDS

The following are the specific terms and conditionsrelating to investment in MUTUAL FUNDS throughthe Website. In case the same are not acceptable,please do not invest in MUTUAL FUNDS throughthis Website and please do not avail of any of thefacilities offered. The acceptance of all the Termsmentioned herein and the terms and conditionscontained in the Client Agreement are a prerequisitefor investing in MUTUAL FUNDS.1. Definitions

“Unit” shall mean the interest of an investor, whichconsists of one undivided share in the Net Assetsof the Scheme.“Net Asset Value (NAV)” of the Units of theScheme will be computed by dividing the netassets of the Scheme by the number of Unitsoutstanding on the valuation date.“Purchase” shall mean subscription to the unitsof the various schemes of the Mutual Fund.“Redemption” shall mean sale of the units of thevarious schemes of the Mutual Fund.“Switch” shall mean an option to the investor toshift the Client’s existing investment in any ofthe schemes of the Mutual Fund to anotherscheme of the Mutual Fund.“Systematic Investment Plan (SIP)” or “AutomaticInvestment Plan (AIP)” shall mean an optionavailable to the investor for investing in a specifiedfrequency of months in a specified scheme of theMutual Fund for a constant sum of investment.“Systematic Withdrawal Plan (SWP)” or“Automatic Withdrawal Plan (AWP)” shall meana facility provided to the investor to withdraw apre-determined amount in a specified frequencyof months from a specified scheme of the MutualFund.“Load” shall mean a charge, which the AssetManagement Company (AMC) may collect onentry and/or exit from a scheme.“Website” shall mean icicidirect.com and othersites maintained by ICICI Securities from time totime to offer on-line investment and trading invarious financial products to its present andprospective Clients, through different mediaincluding but not limited to the Internet, IVR,

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CallNTrade, WAP, physical outlets, kiosks etc.2. The Client is requested to check the correctness

of the details provided. Neither ICICI Securitiesnor any of the Mutual Funds chosen shall acceptany liability which may arise as a consequenceof the erroneous information provided by theclient.

3. The units of the schemes shall be allotted,redeemed or switched, as the case may be, atthe Net Asset Value (NAV) prevalent on the dateof the application, if the application for purchase,redemption or switch is received by the Fundbefore the cut-off time as specified on the websiteand consistent with the terms of the Scheme. ICICISecurities shall take all necessary action to ensurethat the NAV allotted is the NAV applicable onthe date of the transaction. However ICICISecurities shall not be liable for any loss that mayarise to the client as a result of the correct NAVnot being allotted to the client’s transactions onthe website.

4. Any request falling due on a holiday would beprocessed on the next business day andrespective NAV would be applicable as per theMutual Fund’s offer document.

5. ICICI Securities or the concerned Mutual Fund ortheir respective registrars shall not entertain anyoffline transaction requests.

6. In the case of Systematic Investment Plan (SIP)or Automatic Investment Plan (AIP) in the absenceof sufficient allocated funds, unallocated fundsto the extent available shall also be utilised. Inthe absence of sufficient funds, both allocated andunallocated, no investment shall be made for thatparticular period.

7. For change of address or any other details of theclient, the Client shall cause to be sent by fax orhand delivery along with requisite proof, to ICICISecurities a letter duly signed by the client,intimating ICICI Securities of the necessarychanges in the address/ details or shall changethe same, where permitted, through onlinechange of profile after duly logging in using theuser id and / or password and the same shall bea valid intimation of the change.

8. ICICI Securities shall send a physical copy of thetransaction statement or the accounts statementto the client on a monthly basis. The client canview the same on the website.

9. The Client service team of ICICI Securities shallhandle all Mutual Fund related queries of theclient.

10.The Client undertakes to read all the relevant offerdocuments and terms and conditions of allschemes of all mutual funds offered through ICICISecurities, before entering into any transactionsthrough ICICI Securities.

11.After the first purchase transaction, the client willnot be permitted to transact for a period of 4 to 7business days, depending upon the processingtime of the Mutual Fund’s Registrar. ICICISecurities does not accept any liability for delayin processing time at the Mutual Fund’s orRegistrar’s end.

12.It is explicitly stated herein that the Mutual Fund

schemes offered online, have not beenrecommended by ICICI Securities, nor have beensponsored by ICICI Securities, or its affiliates orits sponsors.

13.Neither ICICI Securities, nor any of the MutualFunds shall be liable for any failure to perform itsobligations, to the extent that such performancehas been delayed, hindered or prevented bysystems failures, network errors, delay or loss ofdata due to the above and in circumstances ofacts of God, floods, epidemics, quarantine, riotor civil commotion and war.

14.ICICI Securities shall provide its services on a besteffort basis. However ICICI Securities shall not beliable for failure of the system or for any loss,damage or other costs arising in any way out of:a) System failure including failure of ancillary or

associated systems, or fluctuation of power,or other environmental conditions; or

b) Accident, transportation, neglect, misuse,errors, frauds of the clients or agents or anythird party; or

c) Any fault in any attachments or associatedequipment of the clients; or

d) Any incidental, special or consequentialdamages including without limitation of lossof profit.

The client further agrees to indemnify ICICISecurities for any loss that may arise as a resultof system failure, accident or any of the reasonsmentioned above.

15. For all correspondences with ICICI Securities, theclient shall quote the I-direct account no.I/We have read and accepted the above termsand conditions.

TERMS AND CONDITIONS GOVERNINGINVESTMENT IN FIXED DEPOSITS.The following are the specific terms andconditions relating to investing in Fixed Deposits(hereinafter referred to as “FD”) through theWebsite, In case the same are not acceptable,please do not invest in FDs through this Websiteand please do not avail of any of the facilitiesoffered. The acceptance of all the Termsmentioned herein and the terms and conditionscontained in the Client Agreement are aprerequisite for investing in FDs.

1. Definitions:“FD Issuer” shall mean the corporate whose FixedDeposit the Client has invested in.“Standard Interest Date” shall mean the date onwhich interest is payable by the FD issuer or thedate on which interest falls due.“Website” shall mean icicidirect.com and othersites maintained by ICICI Securities from time totime to offer on-line investment and trading invarious financial products to its present andprospective Clients, through different mediaincluding but not limited to the Internet, IVR,CallNTrade, WAP, physical outlets, kiosks etc.“CallNTrade” shall mean the facility provided byICICI Securities to the Clients, through anIndependent Service Provider, whereby the Clientcan place order(s) over the phone for transactionsin securities, to be executed by ICICI Securities,

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in those securities that are made available to theClient for trading and investment by ICICISecurities.

2. The Client’s transaction instruction for aninvestment in a FD shall at all times be subject tothe same being processed by the FD Issuer andat no point of time shall ICICI Securities be liablefor any reason whatsoever due to which the saidtransaction instruction may not be executed. TheClient may purchase, redeem and prematurelywithdraw the FD using the facilities offered byICICI Securities. Provided that a transactioninstruction of the Client shall at all times be subjectto the Companies Acceptance of Deposits Rules,1975 or the Non-Banking Financial Companies,Acceptance of Public Deposits (Reserve Bank) Di-rections, 1998 or any other regulations asapplicable from time to time and the terms andconditions subject to which the FDs are issuedby the FD Issuer.

3. The Client hereby declares that the Client hasread, understood and accepted the contents ofthe terms and conditions mentioned in the OfferDocuments of the relevant FD schemes andagrees and undertakes not to hold the FD issuerand/or ICICI Securities liable for any transactioninstruction processed on the basis of informationprovided by ICICI Securities in good faith onbehalf of the Client.

4. For conducting any transaction on the Websitefor investment in FD, the Client shall select theFD scheme and tenure in which to invest and thesame shall be executed based on the electronicinstruction, telephonic instruction or theinstruction put in by the Client through such otherfacility as may be made available to the Client byICICI Securities from time to time. Execution of atransaction instruction for a particular scheme ofFD shall be contingent upon the availability of thatparticular scheme of FD at the time of investment.Neither ICICI Securities, any of its affiliates, northe FD Issuer shall be responsible for the non-availability of that particular FD scheme at the timeof investment by the Client. In case of the Client’sinstruction being for investment in FD at a futuredate, the rate of interest that will be applicable tothe Client will be the rate of interest prevailing onsuch future date, irrespective of rate of intereston the date on which the order has been placedby the Client.

5. It shall be the Client’s responsibility to ensure thatany information made available by the Client toICICI Securities is true, accurate and free fromerror. Neither ICICI Securities and/or any of itsaffiliates, nor any of the FD Issuers shall beresponsible for any erroneous information, orany omission in the information that is providedby the Client.

6. The Client should note that any transactioninstruction falling due on a holiday would beprocessed on the next business day.

7. The funds of the Client shall be transferred backto the Clients bank account in case the Client’stransaction instruction is not executed for anyreasons whatsoever. The FD Issuer would havethe right to reject all or any of the transactioninstructions received from the Client, irrespective

of whether the transaction instruction is for sale,purchase or redemption of the FD.

8. The Client understands and agrees thatredemption of the investments in FD through theWebsite will be allowed only throughicicidirect.com and / or such Website as may beintimated by ICICI Securities in its sole discretion.Such redemption shall not be done through anyother Website or other medium meant for the saidpurpose.

9. The Client expressly authorises and permits ICICISecurities to deal with and wherever possible,resolve all/any queries grievances, issues that theClient may have.

10.The Client also authorises and permits ICICISecurities to conclude such commercialarrangements or enter into such relationshipswith the FD Issuer as may be conducive to thecarrying on of ICICI Securities business.

11.The Client shall at all times receive a consolidatedTDS certificate folio wise for the year from theFD Issuer.

12.The Client hereby authorizes ICICI Securities toapply for and make available to the FD Issuer allsuch information as may be required for thepurpose of issuing FDs. All intimation,communications due from the FD Issuer to theClient shall at all times be sent to ICICI Securitiesand ICICI Securities shall in turn ensure that thesame is displayed on the Website and/or sent tothe Client.

13.ICICI Securities shall receive and hold all FDReceipts and/or any other statutorycommunication, which may have to be sent bythe FD Issuer to the Client, on behalf of the Client,unless statutory guidelines mandate that thesame be delivered to the Client. In pursuance ofthe above, the Client authorises ICICI Securitiesto receive the statement of account and otherdocuments pertaining to its investment in FD andto acknowledge receipt of the same on behalf ofthe Client. ICICI Securities shall send acomputerised statement confirming theinvestment in FD by the Client. The Client will alsobe able to view the status of the FD investmentson the Website.

14.The Client agrees and authorises ICICI Securitiesto collect, receive and give good and effectualreceipts and discharges for any sum including butnot limited to interest and redemption proceeds,arising from the investment in FD by the Client.

15.ICICI Securities shall be the sole contact point forthe Client and all details shall remain with ICICISecurities.

16.In case of the Client Agreement being terminatedfor any reason whatsoever, the Client shallintimate ICICI Securities in writing of the saidtermination and ICICI Securities shall in turncause the same to be sent to the FD Issuer so asto enable the Client to deal directly with the FDIssuer in all future transactions.

17.The Client shall cause to be sent by fax or handdelivery along with requisite proof, to ICICISecurities a letter duly signed by the client,intimating ICICI Securities of the necessarychanges in the address/ details or shall change

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the same, where permitted, through onlinechange of profile after duly logging in using theuser id and / or password and the same shall bea valid intimation of the change.

18.ICICI Securities does not undertake anyresponsibility to provide any additional benefitsor products that are advertised and provided bythe FD Issuers as a part of their, promotionalschemes. The same shall at all times be regulatedby such terms and conditions as may bestipulated by the FD Issuer from time to time andICICI Securities and/or any of its affiliates shall atno point of time be held responsible/liable for thesame.

19.For all correspondences with ICICI Securities theClient shall be required to quote I-direct accountnumber.I/we have read and accepted the above terms andconditions.

TERMS AND CONDITIONS GOVERNINGCallNTrade FACILITY.

The following are the specific terms and conditionsrelating to the Call and Trade facility (hereinafterreferred to as “CallNTrade”) being offered to theClients by ICICI Securities through an IndependentService Provider. In case the same are notacceptable, please do not use this facility. Theacceptance of the terms as mentioned herein andthe terms and conditions contained in the ClientAgreement are a prerequisite for availing of thisfacility.1. Definitions.

“CallNTrade” shall mean the facility provided byICICI Securities to the Clients, through anIndependent Service Provider, whereby the Clientcan place order(s) over the phone for transactionsin securities, to be executed by ICICI Securities,in those securities that are made available to theClient for trading by ICICI Securities.“CSE” shall mean the Customer Service Executiveappointed for the purpose of providing theCallNTrade facility.“Independent Service Provider” shall mean thecompany, which shall provide the call centre(s)facility to the Clients on these terms andconditions.“Token” shall mean an instrument designed togenerate a six-digit number every 60 seconds atrandom, which the Client may opt to purchasefrom ICICI Securities for the purpose of certifyingthe Client’s genuineness while placing the ordersover the phone.“Website” shall mean icicidirect.com and othersites maintained by ICICI Securities from time totime to offer on-line investment and trading invarious financial products to its present andprospective Clients, through different mediaincluding but not limited to the Internet, IVR,CallNTrade, WAP, physical outlets, kiosks etc.

2. For the purpose of availing of CallNTrade, theClient will be required to call on the specificnumbers intimated or notified from time to timeby ICICI Securities for the said purpose by meansof an email and/or by putting up such numberson the Website or otherwise. Such numbers will

be subject to changes at ICICI Securities solediscretion, which change shall be intimated/notified to the Client within reasonable time ofsuch a change.

3. In case the Client opts to purchase a token forCallNTrade the Client shall give the pin numberthat is allotted to the Client by ICICI Securities,along with the log number that is randomlygenerated on the Token. This will be required forthe purposes of validating the Client’sidentification details and ascertaining thegenuineness of the caller. However in the eventthe Client does not opt for the token facility, theClient will need to provide accurate answers tothe questions asked by the CSE, including theClients user id, for ascertaining the genuinenessof the caller. ICICI Securities shall place the orderfor the Client only after the Client’s credentialshave been verified by the CSE in the abovemanner.

4. The Client hereby authorises ICICI Securities touse the user-id made available by it for thepurpose of executing the orders placed by theClient over the phone and agrees to hold ICICISecurities harmless for any such usage. All ordersplaced by ICICI Securities on behalf of the Clientusing the Client’s user id shall be deemed to havebeen placed by the Client himself.

5. The orders placed by the Client with the CSE forexecution shall be orders for execution on theNational Stock Exchange or such other stockexchanges as notified by the Client at the time ofplacing order.

6. The Client shall place the orders during markethours with the CSE for execution on the sametrading day. All orders placed by the Client aftermarket hours shall be entered for execution byICICI Securities on the next trading day of theNational Stock Exchange or such other stockexchanges notified from time to time by ICICISecurities , for this purpose.

7. The Client understands, agrees and authorisesICICI Securities at its discretion and withoutfurther prior notice to the Client, to monitor andrecord any or all telephone conversationsbetween the Client on one hand and the CSE onthe other so as to ensure the maintenance of anaudit trail of the transactions placed through thisfacility.

8. The Client must note that for security reasons,the Client will be required to call and place therequired orders over the phone in accordancewith the terms hereof.

9. Neither ICICI Securities nor the CSE shall acceptany liability that may arise as a consequence ofthe incomplete /incorrect data or informationprovided to the CSE over the phone and/or anyerror in the execution of an order due to suchincomplete/incorrect data. Further neither ICICISecurities nor the CSE shall be liable for any lossthat may be incurred by the Client due to a thirdparty placing orders through CallNTrade aftergetting hold of the Client’s personal identificationdetails.

10.The Client will be required to pay an amount percall (which amount shall be intimated to the Clientfrom time to time by display of the same on the

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website or by way of an email or otherwise),made towards CallNTrade, being the servicecharges, for this facility payable to the ServiceProvider. ICICI Securities shall recover thisamount from the client on behalf of the ServiceProvider, by means of a direct debit to the Client’sbank account maintained by the Client with ICICIBANK for online share trading. The Client agreesand permit ICICI Securities to debit the Client’sbank account for the payment of the abovementioned charges on the Client’s behalf. Thesaid charges would be payable irrespective ofwhether an order is placed over the phone orthe order placed, if any, was executed. ICICISecurities shall, on behalf of the IndependentService Provider, recover the money on amonthly basis for the CallNTrade facility fromthe Client and pay to the Service Provider.

11.The above mentioned service charges for theCallNTrade facility are exclusive of the applicablebrokerage charges payable to ICICI Securities forthe executed orders of the Client that have beenplaced by the Client over the phone usingCallNTrade. The Client is required to check theFee schedule on the Website for the purposes ofknowing the applicable brokerage charges.

12.Once the orders are placed by the Client overphone and are sent by ICICI Securities to theExchange for execution, the Client may check thestatus of such orders, online on the website, inthe same manner as in the case of online sharetransactions placed by the Client through theWebsite.

13.The Client hereby agrees to hold ICICI Securitiesand the CSE harmless against all actions, claimsand liabilities that may be incurred by the Clientdue to any action . initiated or threatened thatmay be initiated against them due to theperformance of any of their obligations herein andagrees that ICICI Securities and the CSE shall notbe liable for any loss suffered by the Client onaccount of non execution of the order placed overthe phone due to any reason whatsoever.I/we have read and accepted the above terms andconditions.

TERMS AND CONDITIONS GOVERNING THE“PORTFOLIO ALERTS FACILITY”.

The following are the specific terms and conditionsrelating to the “Portfolio Alerts Facility” being offeredto the Clients by ICICI Securities through anIndependent Service Provider. In case the same arenot acceptable, please do not use this facility. Theacceptance of the terms as mentioned herein andthe terms and conditions contained in the ClientAgreement are a prerequisite for availing of thisfacility.1. Definitions

“Open Request” shall mean Pull Alerts which havenot been executed by ICICI Securities or whichhave not been cancelled by the Client.“Pull Alerts facility” shall mean the subscriptionbased Portfolio Alerts Facility provided by ICICISecurities through which the Client may receivePull Alerts on the Client’s mobile phone.“Pull Alerts” shall mean the receipt of informationby the Client of a particular scrip on the Exchanges

meeting the condition specified by the Client asavailable on the “Website” of ICICI Securities,“Push Alerts” shall mean the receipt ofinformation by the Client other than theinformation sent through the Pull Alerts Facility,which ICICI Securities voluntarily sends to itsClients as and when it deems fit.“Website” shall mean icicidirect.com and othersites maintained by ICICI Securities from time totime to offer on-line investment and trading invarious financial products to its present andprospective Clients, through different mediaincluding but not limited to the Internet, IVR,CallNTrade, WAP, physical outlets, kiosks etc.”Website” shall refer to “ICICIDirect.com” or suchother website as may be maintained by ICICISecurities from time to time.

2. ICICI Securities shall provide the Client with suchnumber of Pull Alerts as ICICI Securities may inits sole discretion determine. In the event of ICICISecurities deciding to charge the Client asdecided by ICICI Securities from time to time perPull Alert sent, it shall intimate the Client of thesame by email and may debit the Client’s bankaccount maintained for the purposes of onlinetrading on a monthly basis, such sums as maybe due to it hereunder for providing the said PullAlerts. ICICI Securities reserves the right to modifythe said charges from time to time, or discontinuethis service at any time without assigning anyreasons for the same. Provided that ICICISecurities shall intimate the Client, the modifiedcharges and/or any change in the same eitherthrough an e-mail or Push Alerts and by puttingup the said charges and/or changes to them onthe Website. It shall be the Client’s responsibilityto maintain adequate balance in the Client‘saccount so as to enable ICICI Securities to debitthe Client’s Bank account for suchabovementioned charges. If ICICI Securities isunable to recover the charges from the Client,due to insufficient balance in the Client’s account,then such a Client shall be debarred from availingof this facility from the time ICICI Securities is notpaid for such facility.

3. Pull Alerts facility is being provided by ICICISecurities through a facility provider, as a separateservice, to the Clients who have voluntarilysubscribed to this facility, irrespective of whetheror not the Client trades through the Website afterreceiving such Pull Alerts. This service is notlinked to the online trading facility offered by ICICISecurities through the Website, and hence is notrelated to the Client’s trading transactions on theWebsite.

4. The Pull Alerts facility shall be open forsubscription and shall be provided only to thoseClients who have given their mobile numbers toICICI Securities. ICICI Securities may in itsdiscretion offer such Push Alerts as it may deemnecessary to the Client to the mobile numberintimated by the Client for the purpose of receiptof the Pull Alerts. It shall be the Client’sresponsibility to ensure that the mobile numbergiven to ICICI Securities is correct and operable/in-working condition at all times.

5. The Client is hereby intimated that the Client will

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be permitted to place only as many alertrequests for a Pull Alert as specified by ICICISecurities for a particular stock from time totime.

6. In case of a change in the mobile number, it shallat all times be the obligation of the Client to ensurethat the said change is intimated to ICICI Securitiesin time so as to ensure that ICICI Securities maycarry out the corresponding change in its database at the end of day on which such intimationis received by ICICI Securities, so as to ensurethat all Pull Alerts and Push Alerts are sent to thenew mobile number from the next day. An alertshall be sent to the new mobile number only afterthe same has been incorporated in ICICISecurities’s database. Provided that ICICISecurities shall at no time be liable, in case analert is sent to a number, which has changed, dueto a delay or non-intimation by the Client or non-receipt of the intimation by ICICI Securities of thesaid change.

7. It shall be the Client’s responsibility to ensure thataccurate data for the purpose of receiving therequested Pull Alerts is intimated to ICICISecuritiesand shall at times check up the detailsof the requests before submitting them to ICICISecurities. ICICI Securities and its facility providerhereby disclaim all or any liability that may ariseas a consequence of the incomplete /incorrectdata /request being provided by the Client for thePull Alert.

8. ICICI Securities hereby declares that ICICISecurities or the facility provider shall not beresponsible for any non-delivery or delay indelivery of Pull Alerts to the Client including butnot limited to reasons such as the mobile phonebeing lost, stolen, or the Client’s phone not beingwith the Client, or a technical failure with theClient’s mobile phone. The Client shall not beentitled to claim a refund of any amount chargedby ICICI Securities to the Client or any additionalamounts whether as compensation or asdamages.

9. In case the Client wishes to modify or cancel therequest for a Pull Alert, the Client may do so byclicking on modify or cancel options available forsuch facility on the Website. The Client will notbe permitted to modify the stock for which thePull Alert was sought; though the Client maycancel the same and request for a new alert.Provided further that a Client will be permitted tomodify or cancel a request only if the same hasnot been executed. The Client may check thestatus of the requested Pull Alert/s on the Websitefrom time to time.

10.In case the Client makes a request for a 52-weekhigh/low Pull Alert for a particular scrip, an alertwould be set for a price which is the 52-week high/low at the time of setting the alert request, andwill remain unchanged irrespective of anysubsequent variation in the 52 week high/lowprice of the particular scrip. In case the Clientwishes to change the same, the Client will haveto cancel the existing open request for thatparticular scrip and make a fresh request for thenew 52-week high/low Pull Alert for it.

11.The Client shall be eligible to a maximum number

of 10 (ten) open Pull Alert requests at any givenpoint of time, unless modified and intimated byICICI Securities at its sole discretion. Providedthat ICICI Securities shall cause to be intimatedto the Client the said change through e-mail orPush Alerts and by putting up the said changeson the Website. If the request put in by the Clientexceeds the maximum number of permissibleopen requests, then the additional request shallnot be entertained by ICICI Securities unless anexisting open request is cancelled by the Clientor has been executed.

12.The Client agrees that neither ICICI Securitiesnor any other party disseminating any data,message and/or information pertaining to thePull Alerts or the Push Alerts facility shall beliable for any inaccuracy, error, omission ordelay in the transmission or delivery of:(1)any such data, information or message, or(2)any loss or damage arising from or

occasioned by(i) any such inaccuracy, error, delay or omission,(ii)non-Performance, or(iii) interruption in any such data, information

or message, due either to any act or omissionby ICICI Securities or any disseminating partyor due to power failure, equipment orsoftware malfunction or any other causebeyond the reasonable control of ICICISecurities, or any disseminating party.

13. The Client hereby agrees that ICICI Securitiesshall not be liable for any “lost opportunity” i.e.notional profit due to the non-receipt of a certainPull Alert that may have been requested by him.

TERMS & CONDITIONS GOVERNING THE‘BUY TODAY SELL TOMORROW’ FACILITY.

This document contains terms and conditionsgoverning the ‘Buy today sell tomorrow’ (BTST)facility offered by ICICI Securities. The acceptanceof the terms and conditions as mentioned hereinand the terms and conditions contained on theWebsite and the Client Agreement are a prerequisitefor availing of the ‘buy today sell tomorrow’ facility.1. Definitions.

‘Buy today sell tomorrow’ is a facility offered byICICI Securities which allows the Client to sell thesecurities which he had purchased before thesame are credited to his demat account, andhence the Client need not wait to sell till the actualcredit of the purchased securities into his demataccount.‘Securities’ shall mean the securities which havebeen purchased by the Client through ICICISecurities but are yet to be credited into theClient’s demat account.‘Website’ shall mean icicidirect.com and othersites maintained by ICICI Securities from time totime to offer on-line investment and trading invarious financial products to its present andprospective Clients, through different mediaincluding but not limited to the Internet, IVR,CallNTrade, WAP, physical outlets, kiosks etc.

2. This facility shall be offered to the Residentindividual Indian Clients of ICICI Securities.Notwithstanding the above, ICICI Securities

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reserves the right to refuse this facility to anyClient or group of Clients at its sole discretion.This facility will not be available to Institutionaland Non resident Indian Clients of ICICI Securities.

3. This facility shall be offered against purchase andsale of selected securities only. ICICI Securitiesshall decide upon the list of securities which shallbe eligible for this facility. This list of securitieswould be displayed on the Website. This listwould be subject to change at the sole discretionof ICICI Securities from time to time. ICICISecurities may also at its sole discretion decideto withdraw a particular security from the abovelist without notice to the clients and withoutassigning any reasons whatsoever.

4. The Client agrees that under the ‘buy today selltomorrow’ facility the Client will not be permittedto sell the entire receivable quantity of securitiesbut only a certain percentage as may beprescribed by ICICI Securities from time to time.ICICI Securities may at its sole discretion vary thepercentage, if it deems fit, without notice to theclients and without assigning any reasonswhatsoever and the Client will at all times berequired to abide by such decision.

5. The Client understands and agrees that securitiesbought on a particular day (i.e. day T) can be soldby the Client within the period commencing onT+1 day and ending on T + 2 days (or by anearlier day if so specified by ICICI Securities.) TheClient will not be allowed to sell the securities onT + 3 days under this facility. However in case ofsecurities under no-delivery period, the T+1 daywill start from the day on which the scrip comesout of no delivery.

6. The Client agrees that the purchase and saletransactions of the securities under the ‘buy todaysell tomorrow’ facility will be on the sameexchange i.e. securities purchased from NSE, willbe allowed to be sold on the NSE only, and noton BSE and vice versa.

7. Securities purchased by the Client which arepending to be credited to the client’s demataccount can be viewed by the Client after loggingin for Trading on the ‘Securities Projection’ pageof the Website and the Client may place ordersto sell the eligible securities upto the specifiedpercentage under the ‘buy today sell tomorrow’facility. It is understood that use of this facility isentirely voluntary and the facility has to be usedin accordance with applicable rules/ regulations/guidelines specified by the Securities andExchange Board of India and other competentauthorities from time to time. ICICI Securitieshereby disclaims all liability for any loss causedto the Client out of the purchase or sale of thesecurities through use of this facility.

8. The Client hereby agrees that, in case there is ashort delivery from the Exchange for the earlierbuy transaction, then the client will also be givingshort delivery for his sell transaction. TheExchange would either give delivery of sharesbought earlier through market auction or shallcloseout the buy transactions as per the ExchangeRegulations. However, this would not help theclient in meeting his sale delivery obligationalready committed by him as even if he receives

the shares bought earlier through auctionsettlement, by that time the securities pay-in datefor his sell transaction would be over. In suchcase, the client will have to face auctionproceedings against his sale transaction and willhave to bear the auction losses, auctionpenalties and any other incidental charges etc.That all cost and consequences of any auctionarising out of such BTST sell transactions shallbe fully borne by the client and ICICI direct wouldnot be held responsible for any such shortdelivery received by the customer and theconsequential impact thereof.

9. The Client understands and agrees that pursuantto the Client availing of this facility the stocksbought by the client in one settlement shall beretained either partly or fully in ICICI Securitiesdemat account for the purpose of meeting thepay in obligation of the client towards the sharessold by the client in the subsequent settlement(s),directly from ICICI Securities demat account.

10.The Client hereby directs and authorises ICICIBank Limited (Depository Participant), as theDepository Participant to act on the directionsgiven by ICICI Securities given pursuant to theabove terms and conditions and/or pursuant tothe Power of Attorney executed by the Client infavour of ICICI Securities.

11.The Client hereby agrees and undertakes toindemnify and save harmless DepositoryParticipant, ICICI Securities, ICICI Bank from anyclaim, action, dispute or grievance that the Clientor any third party may have, on account ofDepository Participant or ICICI Securities or ICICIBank having acted in pursuance of the directionsand/or authorisations of the Client.

12.This facility is offered by ICICI Securities inaccordance with the rules/ regulations/ guidelinesspecified by the Securities and Exchange Boardof India and other competent authorities fromtime to time. ICICI Securities reserves the rightsto change these terms at any time in accordancewith the regulations specified.

13.These terms and conditions shall be in additionto and not in derogation of the terms andconditions contained in the Member Clientagreement between the Client, DepositoryParticipant, ICICI Securities and ICICI Bank,provided that in case of any inconsistency theMember Client agreement shall prevail.I/WE have read and accepted all the above termsand conditions and hereby subscribe to all theabove facilities offered.

TERMS & CONDITIONS GOVERNING EQUITYDERIVATIVES FACILITY:

“Account” shall mean the brokerage account ofthe Client with ICICI Securities Limited.

“American Option” gives the holder of the optionthe right, but not the obligation, to buy or sellthe underlying instrument on or before the expirydate. “Calendar spread” means risk offsetting positionsin contracts expiring on different dates in thesame underlying.“Call” is the Right but not the obligation to

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purchase the underlying Asset at the specifiedstrike price by paying a premium. The Buyer ofa Call has the Right but not the Obligation toPurchase the Underlying Asset at the specifiedstrike price by paying a premium whereas theSeller of the Call has the obligation of selling theUnderlying Asset at the specified Strike price.“Client” shall mean any person who has executedthe Client Agreement with ICICI Securities andexecuted a Power of Attorney in favour of ICICISecurities and has an existing and valid Account.“European option” gives the holder of the optionthe right, but not the obligation, to buy or sellthe underlying instrument only on the expiry date.This means that the option cannot be exercisedearly. Settlement in European Option is based ona particular strike price at expiration.“Facility” shall mean the facility offered by ICICISecurities to enable the Client to trade in Futuresand Options against the margin, which may bein form of cash or securities, as a security to meetClient’s obligations arising from Transactions inFutures and Options.“Initial margin” means the amount of margin(either in the form of cash or eligible securities)required by ICICI Securities to be deposited withit the Client before undertaking Transactions inFutures and Options.“Limit” means the amount (primarily arising fromthe funds / securities allocated or furnished)available with the Client to submit as Marginrequired against positions that the Client hasalready taken or proposes to take.“Margin” is the security offered/provided by theClient, whether in form of cash or securities, fordue settlement of all the obligations of the Clientarising out of or in connection with theTransactions.“Minimum Margin” is the margin amount that theClient is required to maintain with ICICI Securitiesat all times to keep the clients positions in Futuresand Options intact and without getting it squaredoff“Positions” are long or short positions in anyTransactions.“Premium” is the down payment that the Buyerof Call or Put is required to make for enteringinto the Options Transaction.“Put” is the Right but not the obligation to sellthe underlying Asset at the specified strike priceby paying a premium. The Buyer of a Put has theRight but not the Obligation to Sell the UnderlyingAsset at the specified strike price by paying apremium whereas the Seller of the Put has theobligation of Buying the Underlying Asset at thespecified Strike price.“Strike Price” is the price at which the underlyingasset is agreed to be bought or sold.“Transactions” is conduct of Futures or Optionstrading by the Client through the website.“Underlying” is an index or stock enabled fortrading on Futures /Options.“In-the-money”: A Call Option is said to be “In-the-Money” if the strike price is less than themarket price of the underlying stock. A Put Optionis In-The-Money when the strike price is greater

than the market price.“Out-of-the-Money”: A Call Option is said to be“Out-of-the-Money” if the strike price is greaterthan the market price of the underlying stock. APut option is Out-Of-Money if the strike price isless than the market price.“Website” refers to the website at the URLwww.icicidirect.com.•The singular includes the plural (and vice versa).•The index to and the headings in these Termsand Conditions are inserted for convenience ofreference only and are to be ignored in construingand interpreting these Terms and Conditions.•Reference to the words “include” or “including”shall be construed without limitation.•Reference to a gender shall include referencesto the female, male and neuter genders.Applicability:These Terms and Conditions, along with theClient Agreement and the Power of Attorneyexecuted by the Client in favour of ICICI Securitiesform the contract between the Client and ICICISecurities for availing of the Facility. Nothingcontained herein shall be construed asderogatory to the terms of the Client Agreementand the Power of Attorney executed by the Client.By availing of the Facility, the Client acknowledgesas having read, understood and accepted theseTerms and Conditions.Terms & Conditions pertaining to trading inOptions:The Client agrees that ICICI Securities mayrequire the Client to provide such margin (in suchform and manner as acceptable to ICICISecurities) depending on the Stock and marketvolatility on different contracts as it deems fit inits sole discretion as necessary for Riskmitigation. This margin requirement may bemore than the margin prescribed by the StockExchange. The margin may be taken in cash orin form of securities as may be acceptable to ICICISecurities. In event the Client offers securities asmargin to ICICI Securities, then the Terms andconditions as hereunder shall apply.The Client agrees that ICICI Securities may, in itssole discretion, change the margin requirementon Transactions where the Client has taken orproposes to take a position, depending on its ownrisk mitigation measures and without intimatingor consulting the Client.In case of upward revision of the marginrequirement, the Client agrees to allocateadditional margin (in form of cash or securitiesas may be acceptable to ICICI Securities) tocontinue with open position taken in connectionwith the Transaction. The Client agrees that ICICISecurities shall have the discretion to selectstocks that will be enabled for trading in theOptions.In-the-Money or Out-of-Money would beconsidered while calculating the Marginrequirement on Sell orders. In case of In-the-Money, the seller of the option would be requiredto bring in additional Margin based on thedifference between Current market price (CMP)and the Strike price in case of Call, and difference

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between Strike price and the CMP in case ofPut. In case of Out of money, the seller of theOption may be given the benefit and may bepermitted to provide lesser Margin dependingupon the difference between Strike price andthe CMP in case of Call and difference betweenCMP and the Strike price in case of Put. TheMargin so arrived at shall be compared with theShort Option Margin Percentage (SOMC) andthe higher of the two percentages shall becharged.The Client agrees that ICICI Securities may, inits sole discretion, require the Client to provideadditional / further margin depending upon theClient’s positions, in form and manner acceptableto ICICI Securities. If the limit is not sufficient tomeet the demand for additional Margin, ICICISecurities may close out any or all open positions.ICICI Securities shall not be required to make amargin call or otherwise inform the Client thatthe margin as furnished by the Client has fallenbelow the required level and it shall be theresponsibility of the Client to regularly monitorand review the Margin availability and furnish theadditional Margin to ICICI Securities. ICICISecurities has the right to close out the openposition at any time (without consulting ornotifying the Client) in case the Client does notsatisfy the additional margin requirements. TheClient undertakes to maintain sufficient free limitto provide for additional margin as and whenrequired by ICICI Securities.Exercise: In case of an American option, theClient can place an exercise request up to theOpen (Call/Put) buy position anytime except onthe Last date of the contract. The Client may placean exercise request for less than the openpositions in market lots. The exercise request canbe placed only at specified time intervals whenthe exercise market is open. Exercise requestcannot be placed on the last day of the Contract.On the Expiry day of the Contract, the exchangewould automatically exercise the (Call/Put) Buyposition in case the Position is In-the-Money. Incase of exercise request placed by the Client orexercised by the Stock Exchange, the exerciserequest is accepted only if the Position is In-the-Money. The exercised request is reduced fromthe open positions in the Marginable sell orderposition. Hence the sell order position would besubject to Margin requirement, if the quantity ofsell order exceeds the difference between the buyposition and the exercise request quantity. If theExercise Request is not accepted by theexchange at the end of the day, the ExerciseRequest is marked as rejected at the end of theday, so that the Client can place a fresh ExerciseRequest the next day.Assignment: In case the Client has a Sell position,the Contract may be assigned to the Client andin such an event the Client undertakes to Buy theUnderlying in case of Put and sell the Underlyingin case of Call. However, if the Contracts aresettled in cash, the Client would have to pay orreceive the cash in case of an assignment. TheClient understands that there can be partAssignment as may be decided by the StockExchange in its sole discretion.

Mark-to-Market process: In case of ShortPositions taken by the Client i.e. the Client is theSeller of a Call or Put, Mark to Market process(MTM) will be run on a regular basis. As soonas the Client places an order, which results in aposition, a Trigger price would be indicated tothe Client. Whenever the Underlying price of theShares goes above the Trigger Price in case ofCall, the Contract would be in the MTM loop. Insuch event, additional Margin shall be re-calculated based on the increase in price and ifthe Limit is found to be insufficient or the Clientfails to make available the additional Margin, thenthe orders in the same contract shall be cancelled.ICICI Securities may, at its sole discretion, squareoff the position taken by the Client.As soon as the Client places a Sell Put order,which results in a position, a Trigger price wouldbe indicated to the Client. Whenever theUnderlying price of the shares goes below theTrigger price in case of Sell Put, the Contractwould be in the MTM loop. In such event,additional Margin shall be re-calculated based onthe decrease in price and if the Limit is found tobe insufficient or the Client fails to make availablethe additional Margin, then the orders in the samecontract shall be cancelled. ICICI Securities may,at its sole discretion, square off the position takenby the Client.If the Client does not square off the transactiontill the last day of the contract, the position willbe marked as closed off and the same cannot beexercised or assigned.Terms & Conditions pertaining to trading inFutures:The Client agrees that the Client’s positions arecontinuously monitored and the Client agrees toprovide Margin (including additional Margin) asmay be determined by ICICI Securities from timeto time. If the available Limit is not sufficient tomeet the demand for additional Margin, ICICISecurities may close out the open position takenby the Client and the Client shall be solelyresponsible for any losses arising out account ofthe same. ICICI Securities shall not be liable formaking a demand for Margin or otherwise informthe Client that the Margin has fallen below therequired level and it shall be the responsibility ofthe Client to regularly monitor and review theMargin availability and furnish the additionalMargin to ICICI Securities. ICICI Securitiesreserves the right to close out the open positionat any time (without consulting the Client) in casethe Client does not satisfy the additional Marginrequirements. The Client shall maintain sufficientLimit to provide Margin as and when requiredby ICICI Securities.The Client agrees that ICICI Securities shall havethe discretion to select contracts that will beenabled for trading in Futures and the individualmargin percentage, both Minimum margin andInitial margin, in the futures segment. The Marginmay be taken in cash or in form of securities asmay be acceptable to ICICI Securities. In eventthe Client offers securities as margin, then theTerms and conditions as hereunder shall apply.The Client agrees that in case of an order in

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Futures, initially, Margin shall be blocked at theapplicable Margin requirement of the ordervalue. For market orders, margin shall beblocked considering the order price as the lasttraded price of the contract. On execution ofthe order, the same shall be s u i t a b l yadjusted as per the actual execution price of themarket order.Margin requirement may be changed by ICICISecurities during the life of the contract. If due tothe increased volatility in the prices, the marginrequirement may be increased and in such eventthe Client undertakes to allocate additional funds/securities to continue with open position. If suchMargin requirement is not met, the contract maycome in MTM loop and may be squared off byICICI Securities due to insufficient Margin. TheClient undertakes to maintain sufficient Limit tosafeguard the open position from being squaredoff or pending orders cancelled.The Client agrees that Margin is blocked only onthose new future orders, which may result intoincreased risk exposure. For calculating themargin at order level, values of all buy ordersand sell orders (in the same underlying-group asmay be determined by ICICI Securities) is arrivedat. Margin is levied on the higher of two i.e. ifbuy order value is higher than sell order value,only buy orders will require Margin beingfurnished and vice versa.Spread position: Spread position would attractSpread Initial Margin Percentage (SIM) andSpread Minimum Margin Percentage (SMM) inconnection with margin calculation instead ofInitial Margin Percentage and Minimum MarginPercentage. Spread position value is calculatedby multiplying the weighted average price ofposition in far month contract and spread positionquantity. Spread margin percentage is thenapplied to spread position value to arrive atspread margin. ICICI Securities shall in its solediscretion, determine the contracts which canform spread positions against each other.Margin is blocked only on orders that result inan increased Risk exposure. Margin may not berecovered from an order, which is cover in nature.If a Position of opposite nature is present thenthe Order is reduced by the opposite position, ifthe opposite position is greater than the order,then the order may not require Margin. However,ICICI Securities shall have the sole discretion todetermine the Margin Requirement.Available margin: Available margin is calculatedby deducting MTM loss from Margin blocked withrespect to a position. When the available marginis below the Minimum Margin required, Marginrequired on executed position is re-calculated bytaking Current Market Price (CMP) of respectiveposition and Initial Margin Percentage and spreadmargin Percentage, as the case may be. AvailableMargin is then compared with the requiredMargin and amount for additional Marginrequirement is arrived at.When the Intra-day MTM process is run and if itis observed that the available Margin has fallenbelow the Minimum Margin required, ICICISecurities would block additional Margin requiredout of the Limits available. In case Limits are not

sufficient to meet the additional Marginrequirements then ICICI Securities may place asquare off order at market rate to close theposition. However, before placing the square offorder all pending futures orders in thatunderlying-group (contracts having sameunderlying and recognized in the same group forspread recognition at the discretion of ICICISecurities) may be cancelled by ICICI Securities.The Client hereby undertakes to allocateadditional Margin, suo moto, on any openposition, to make available sufficient Marginagainst the same in order to avoid square off byICICI Securities due to insufficient MarginThe Client agrees that in case of insufficientLimits, to safeguard its interest ICICI Securitiesmay block and debit any unallocated funds lyingin Client’s Bank Account integrated with theAccount and /or debit securities lying in Client’sdemat account integrated with the Accounttowards dues recoverable from the client.In case of profit on a future position or wherethe available Margin is in excess of the Marginrequired, the Margin in excess of required Margin(in profitable position) may be released whenICICI Securities runs its End of Day (EOD) MTMprocess or when the Client squares off the openposition completely before EOD.Every day the settlement of open futures positionwill take place at the closing price of the day. Incase of profit at EOD MTM Process run, Limitsshall be increased by the amount of profit and incase of loss, Limits shall be reduced to that extent.Next day the position would be carried forwardat the previous trading day closing price at whichlast EOD MTM Process was run. Closing pricefor all the contracts is provided by the exchangeat the end of the day. Margin is re-calculated atthe closing price at which EOD MTM process isrun and differential Margin is blocked or released,as the case may be. For Margin calculation, thespecified Initial Margin Percentage and specifiedspread margin Percentage is taken intoconsideration.Due to daily MTM and pay-in/pay-out, Limits maybecome lesser over a period of time and becauseof the same, open position may fall in MTM loopand may get squared off unless the Clientprovides fresh Limits. Pay-in amount shall bedebited from the Client’s Bank account (first fromthe amount allocated for the Transactions andthen from the free unallocated balance) and pay-out amount shall be credited to the Client’s BankAccount.All MTM losses will be recovered by ICICISecurities on a daily basis by debiting the clientsbank account.Split of Contract: In case of contracts which fallunder Spread Position, four (4) calendar days (orsuch other number of days as determined by ICICISecurities from time to time) prior to the expiryof a contract, open position of that contract wouldbe taken out of Spread Position and subjected tonormal Initial Margin requirement. Position insuch separated contracts would be shownseparately. Limits would be reducedappropriately to apply Initial Margin on near

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month contract. If Limits are insufficient forapplication towards the Initial Marginrequirement, the Margin available in a group fromwhich the near month contract was moved willalso be utilized to make good the short fall. Aftermoving the near month contract from the existinggroup to separate group, Margin requirement forthe existing group will be re-calculated and Limitswould be reduced appropriately.In case the contract remains open till the contractexpires, ICICI Securities as well as the Exchangewould expire the position on the last day ofcontract after running EOD MTM Process and theposition would be closed at the closing price ofthe spot (equity) market. Margin blocked on suchexpired position will also be released and theLimits would be appropriately increased afteradjusting profit/loss on close out.Margin Requirement:The Client agrees that ICICI Securities may at itssole discretion, change the margin requirementon the Transactions, in which the Client has takenor proposes to take positions. In case of upwardrevision of the margin requirement, the Clientagrees to allocate additional funds/securities asmargin to continue with open positions taken inconnection with the Transactions.TERMS & CONDITIONS GOVERNINGCURRENCY DERIVATIVES FACILITY:The following are the specific terms andconditions governing trading in Exchange TradedCurrency Derivatives through ICICI SecuritiesLimited (hereafter referred to as ICICI Securities).The acceptance of the terms and conditions asmentioned herein, in addition to the other termsand conditions, not contrary to those mentionedherein below, as stated on the Website (includingbut not limited to the GENERAL TERMS &CONDITIONS), the Client Agreement and thePower of Attorney executed by the Client infavour of ICICI Securities are a prerequisite foravailing the aforementioned facility.Nothing contained herein shall be construed ascontrary to the terms of the Client Agreementand the Power of Attorney executed by the Client.By availing of the Facility, the Client acknowledgesthat he/she has read, understood and acceptedthese Terms and Conditions.DefinitionsWords not defined hereinbelow, will have thesame meaning as mentioned in the other termsand conditions mentioned in the websitewww.icicidirect.com.“Account” shall mean the brokerage account ofthe Client with ICICI Securities Limited which isintegrated with his Bank account maintained withICICI Bank Limited and Demat accountmaintained with ICICI Bank Limited (as DepositoryParticipant).“Calendar Spread” means Currency Derivativesposition in one expiry month which is hedgedby an offsetting position in a different expirymonth.“Available margin” shall mean margin calculatedby deducting intra day MTM loss on a position atany given point in time from the Margin blocked

at that point in time under the facility.“Contracts” shall mean Currency Futurescontracts which are traded on the currencyderivatives segment of the exchanges, inrespect of which ICICI Securities is offering theFacility.“Facility” shall mean the facility offered by ICICISecurities to enable the Client to trade in Currencyderivatives on providing necessary margin withICICI Securities as a security to meet Client’sobligations arising from transactions in theCurrency Derivatives segment. Such margin maybe in form of cash or securities as prescribed byICICI Securities“Fresh order” shall mean an order placed by theClient by which a Fresh Position is taken underthe Facility.“Fresh Position” shall mean an open positioncreated/enhanced on execution of a Fresh Orderunder the Facility.“Margin” is the security offered/provided by theClient, whether in the form of cash or securities,for due settlement of all the obligations of theClient arising out of or in connection with thetransactions done under the facility.“Initial margin” means the amount of margin(either in the form of cash or eligible securities),as required by ICICI Securities, to be deposited /furnished / allocated with it by the Client beforeundertaking Transactions under the facility.“Intraday Mark to Market (MTM) process (alsoreferred to as Mark to Market Loop) “shall mean,the act by which , at any time while the clienthas open position under the facility, ICICISecurities shall identify such open positions forwhich Available margin is below the MinimumMargin and take steps as mentioned elsewherehereinbelow, for collecting the required additionalmargin or squaring off of such positions.“Limit” means the amount (primarily arising fromthe funds / securities allocated or furnished)available with the Client to furnish towardsMargin required against positions that the Clienthas already taken or proposes to take.“Minimum Margin” is the margin amount, as maybe prescribed by ICICI Securities from time totime, that the Client is required to necessarilymaintain with ICICI Securities to keep his positionunder the facility intact and to safeguard suchpositions from being squared off by ICICISecurities in the Intra day Mark to Market process.“Positions” shall mean all long or short positionsin Transactions under the facility.“Traded Price” shall mean the price at which atransaction is executed in a particular CurrencyFutures contract on the Exchange.“Transactions” is conduct of Currency Derivativestrading by the Client through the websitewww.icicidirect.com.“Underlying” is the currency (ies) enabled fortrading on Currency Derivatives segment.The client agrees that the facility will be offeredon such exchanges and to such categories ofclients as may be decided by ICICI Securitiesfrom time to time.

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The client agrees that ICICI Securities may, at itsdiscretion, disallow the facility to clients who arenot accessing their accounts through the webportal www.icicidirect.com.The client agrees that the Facility is subject tothe Rules and Regulations specified by therespective exchanges in which it is offered. Theclient agrees that he/ she has read andunderstood the Risk Disclosure Document asmandated by the exchanges. The client agreesthat he /she is required to keep himself/ herselfupdated on a continuous basis of the changesin such Rules and Regulations and the impact ifany of such changes on his positions under thisfacility and take all necessary steps in thisregard.ICICI Securities is not be responsible forlosses, if any, suffered by the client due toimplementation of any regulatory requirementthat may be mandated from time to time.The Client agrees that ICICI Securities shall havethe sole discretion to select the contracts that willbe enabled for trading,in the Currency derivativessegment and the individual margin percentages(Minimum margin and the Initial margin) for theselected contracts.ICICI Securities shall decide upon the list ofContracts in which the Clients would be permittedto take Fresh positions under the Facility. The listof Underlying(s), detailing the Contracts wouldbe provided to the Client, by displaying such liston the Website www.icicidirect.com. Such list ofUnderlying(s) detailing the contracts would besubject to change by ICICI Securities from timeto time and even during the day. If an Underlying / contract(s) is disabled underthe facility during the day, clients will have theoption to close the existing open positions.However, no fresh orders will be allowed in suchcontracts. Roll over facility for carry forward ofposition in a contract to another contract in thesame underlying for another month is also notavailable under the facility. The Client agrees that ICICI Securities mayrequire the Client to provide such margin (in suchform and manner as acceptable to ICICISecurities) depending on the market volatility ondifferent contracts, as it deems fit, in its solediscretion, as necessary for Risk mitigation. Thismargin requirement may be more than themargin prescribed by the Stock Exchanges.Margin may be taken in cash or in form ofsecurities, which may be transferred / blocked /pledged in favour of ICICI securities, as may beacceptable to ICICI Securities. ICICI Securities shall decide upon the Marginrates applicable for transactions under the Facilityand ICICI Securities reserves the right to alter theMargin rates applicable for an Underlying withoutnotice to the Client and without assigning anyreasons whatsoever. The contract-specific Marginrates, as may be applicable, would be providedby ICICI Securities, by displaying such Marginrates on the Website www.icicidirect.com. The Client agrees that ICICI Securities may, in itssole discretion, change the margin requirementon Transactions where the Client has taken orproposes to take a position, depending on its own

risk mitigation measures and without intimatingor consulting the Client. In case of upward revision of the marginrequirement, due to increased volatility in theprices or any other reason, the Client agrees toallocate additional margin (in form of cash orsecurities as may be acceptable to ICICISecurities) to continue with the open positiontaken in connection with the Transaction. If suchMargin requirement is not met, the contract maycome in the Mark to Market (MTM) loop and maybe squared off by ICICI Securities due toinsufficient Margin. The Client undertakes tomaintain sufficient Limit to safeguard the openposition from being squared off or pendingorders being cancelled. The Client agrees that in case of a Fresh order,initially, Margin shall be blocked at the applicableMargin requirement of the order value. Formarket orders, margin shall be blockedconsidering the order price as the last tradedprice of the contract and on execution of theorder, margin shall be suitably adjusted as perthe actual execution price of the market order.The Client understands that he/she also has anoption to voluntarily add margin money over andabove the system determined margin at the timeof placing the order. In case of order modification, the required Marginshall be re-calculated and excess margin(pertaining to order margin blocked by system),if any, shall be released or additional marginneeded, if any, will be blocked. In case theavailable Margin with ICICI Securities isinsufficient, then the order modification requestwould get rejected. The Client agrees that additional margin moneywhich has been voluntarily added by the Clientat the time of placing the order will not bereleased during order modification. Such excessadditional margin money added by the client, ifany, will be released by the system either duringthe EOD mark to market process or when all thepositions in the particular underlying group arecompletely squared off. The Client agrees that Margin is blocked only onthose new orders, which may result intoincreased risk exposure. For calculating themargin at order level, values of all buy ordersand sell orders (in the same underlying-group asmay be determined by ICICI Securities) is arrivedat. Margin is levied on the higher of two i.e. ifbuy order value is higher than sell order value,only buy orders will require Margin beingfurnished and vice versa. The Client agrees that ICICI Securities shall, atits sole discretion, require the Client to providereduced Margin on positions forming spreadpositions against each other. The Client agrees that in the event ICICI Securitiesoffers to provide Spread benefits, the relatedspread positions would attract Spread InitialMargin Percentage (SIM) and Spread MinimumMargin Percentage (SMM) in connection withmargin calculation instead of Initial MarginPercentage and Minimum Margin Percentage.Spread position value is calculated by multiplying

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the weighted average price of position in farmonth contract and spread position quantity.Spread margin percentage is then applied tospread position value and then adjusted with theSpread profit or loss to arrive at spread margin.ICICI Securities shall in its sole discretion,determine the contracts which can form spreadpositions against each other. Margin may not be recovered from an order,which is in the nature of a cover order. If aPosition of opposite nature is present then theOrder is reduced by the opposite position, if theopposite position is greater than the order, thenthe order may not require Margin. However, ICICISecurities shall have the sole discretion todetermine the Margin requirement in all cases. In case of profit on a position or where theavailable Margin is in excess of the Marginrequired, the Margin in excess of required Margin(in profitable position) may be released whenICICI Securities runs its End of Day (EOD) MTMprocess or when the Client squares off the openposition completely before EOD. Every day the settlement of open position willtake place at the Settlement price of the day. Incase of profit at End of Day (EOD) MTM Processrun, Limits shall be increased by the amount ofprofit and in case of loss, Limits shall be reducedto that extent. Next day , the position would becarried forward at the previous trading daySettlement price at which last EOD MTM Processwas run. Settlement price for all the contracts isprovided by the exchange at the end of the day.Margin is re-calculated at the Settlement price atwhich EOD MTM process is run and differentialMargin is blocked or released, as the case maybe. For Margin calculation, the specified InitialMargin Percentage and specified spread marginPercentage, if any, is taken into consideration. Due to daily MTM and pay-in/pay-out, Limits maybecome lesser over a period of time and becauseof the same, open position may fall in MTM loopand may get squared off unless the Clientprovides fresh Limits. All MTM losses will be recovered by ICICISecurities on a daily basis by debiting the clientsbank account. Pay-in amount shall be debitedfrom the Client’s Bank account (first from theamount allocated for the Transactions and thenfrom the free unallocated balance) and pay-outamount shall be credited to the Client’s BankAccount and the same would be allocated forfurther trading, thereby limits shall increase bythe amount of profit, net of applicable taxes,brokerage and statutory levies. Split of Contract: In case of contracts which fallunder Spread Position, one (1) working day priorto the expiry of a contract(or such other numberof days as determined by ICICI Securities fromtime to time), open position of that contract wouldbe taken out of Spread Position and subjected tonormal Initial Margin requirement. Position insuch separated contracts would be shownseparately. Limits would be reducedappropriately to apply Initial Margin on nearmonth contract. If Limits are insufficient for

application towards the Initial Marginrequirement, the Margin available in a group fromwhich the near month contract was moved willalso be utilized to make good the short fall. Aftermoving the near month contract from theexisting group to separate group, Marginrequirement for the existing group will be re-calculated and Limits would be reducedappropriately. In case the contract remains open till it expires,ICICI Securities as well as the Exchange wouldexpire the position on the last day of contractafter running EOD MTM Process and the positionwould be closed at the Final settlement price forthe Currency Derivative contract. The FinalSettlement price shall be the Reserve BankReference Rate on the last trading day of suchcurrency derivative contract, or as may bespecified by the relevant authority from time totime. Margin blocked on such expired positionwill also be released and the Limits would beappropriately increased after adjusting profit/losson close out. The Client agrees that ICICI Securities may, in itssole discretion, require the Client to provideadditional / further margin depending upon theClient’s positions, in the form and manneracceptable to ICICI Securities. If the limit is notsufficient to meet the demand for additionalMargin, ICICI Securities may close out any or allopen positions. The Client agrees that the Client’s positions arecontinuously monitored by ICICI Securities andthe Client agrees to provide Margin (includingadditional Margin) as may be determined by ICICISecurities from time to time. Such monitoringmay be done by running the Intra day Mark toMarket Process or in such manner as may bedecided by ICICI Securities from time to time.ICICI Securities reserves the right to decide thetiming and frequency for running the IntradayMTM process. At the time the Intra-day MTM process is run, ifit is observed that the Available Margin has fallenbelow the Minimum Margin required, ICICISecurities would block additional Marginrequired, out of the Limits available. When theAvailable margin is below the Minimum Marginrequired, Margin required on executed positionis re-calculated by taking Current Market Price(CMP) of respective position and Initial MarginPercentage and spread margin percentage, as thecase may be. Available Margin is then comparedwith the required Margin and amount foradditional Margin requirement is arrived at. Incase Limits are not sufficient to meet theadditional Margin requirements, ICICI Securitiesmay place a square off order at market rate toclose the position and the Client shall be solelyresponsible for any losses arising on account ofthe same. However, before placing the squareoff order all pending orders in that underlying-group (contracts having same underlying andrecognized in the same group for spreadrecognition at the discretion of ICICI Securities)may be cancelled by ICICI Securities. The Clientshall maintain sufficient Limit to provide Margin

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In confirmation of the above:

For

Authorised Signatory :

(name of the client)

as and when required by ICICI Securities The client understands that square off ofpositions would be done as per the discretion ofICICI Securities , which may lead to squaring offof positions that form part of any currencyderivative strategy in the client’s portfolio. Theclient understands and agrees that ICICISecurities is not required to analyze the client’sportfolio while squaring off positions due tomargin shortfall. The square off would happenpurely at individual position levels and not atportfolio/strategy level. ICICI Securities shall not be required to make amargin call or otherwise inform the Client thatthe margin as furnished by the Client has fallenbelow the required level and it shall be theresponsibility of the Client to regularly monitorand review the Margin availability and furnish theadditional Margin to ICICI Securities, as required.The Client undertakes to maintain sufficient freelimit to provide for additional margin as and whenrequired by ICICI Securities. ICICI Securities hasthe right to close out the open position at anytime (without consulting or notifying the Client)in case the Client does not satisfy the additionalmargin requirements as specified by it. The Client hereby undertakes to allocateadditional Margin, suo moto, on any openposition and to make available necessary Marginagainst the same in order to avoid square off byICICI Securities due to insufficient Margin.

Client/s understand that loss arising due tosquare off of the position; whether initiated byclient or squared off during the Intra day Mark toMarket process, is required to be brought incash; by way of allocation of the required amountin the client’s linked bank account within theprescribed time. If the client has pledgedsecurities as margin and fails to provide theamount due in cash, ICICI Securities has the rightto sell/dispose/transfer the client’s securities torecover the dues, at any time after such squareoff.The Client agrees that in case of insufficientLimits, ICICI Securities may, to safeguard itsinterest, block and debit any unallocated fundslying in Client’s Bank Account integrated withclient’s trading Account and /or debit securitieslying in Client’s demat account integrated withthe client’s trading Account towards duesrecoverable from the client. If any amount is due from the Client to ICICISecurities pursuant to the Client availing of theFacility, the Client shall pay the amount duewithout demur on a demand being made by ICICISecurities. ICICI Securities shall also have theright to transfer /sell any other securities of theClient at Client’s risk and costs and withoutintimation to the Client for recovering such dues.In case of delayed payment/ delay in realizationof the dues, then interest, at the rates as decidedby ICICI Securities from time to time, shall be paidby the Client for the same till the date of paymentby the Client. In case of sale of Clients Securitiesto recover MTM obligation / dues /losses/interest,the brokerage rates that would be charged forsuch sale transactions would be the ratesapplicable for sale transactions under the ‘Spot’segment on the Website www.icicidirect.com.



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Agent Code : _____________________ Customer AOF No : _______________

Customer Name : ___________________

Date : _____________________

CUSTOMER CONFIRMATION

For your convenience please fill up this sheet yourself compulsorily. This will help us tocapture your essential details required for opening your ICICIdirect.com account.

For any kind of query please refer to the “ Whom to Contact ” list

"This document is voluntary, however, the same is required to be executed by the customers in orderto avail of seamless trading platform with integrated bank account, demat account and brokingaccount. If you do not wish to use the services of ICICI Bank Limited and ICICI Securities Limited,you need not execute such documents."

Date : _____________________ Place : _______________

Please tick the relevant boxes :

I/We have registered on website of ICICIdirect.com and my ARN is

I/We have not opened an ICICIdirect.com account earlier and I am applying now for the

first time.

I/We have received the duly signed acknowledgment slip for opening the

ICICIdirect.com account.

I/We have given a cheque of ` __________ dated ___________ bearing the number

__________________ towards the payment of account opening charges of my

ICICIdirect.com account and also a cheque of ` _________________ dated

_________________ bearing the number ________________towards funding my own

bank account linked to ICICIdirect.com account.

I/We have received the “Whom to Contact” list.

+ X (Signature of Principal Authorised Signatory)

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FOR OFFICE USE ONLYI-direct Account Opening Check List

Mandatory Documents 1. Signatures Title Page No. Check to be made Centre CPC • Rights & Obligations 3-7 • DP Agreement Part B 9-10 Compulsory signature of the witness of the client &

Compulsory Signature of the Signatories • Risk Disclosure Document 11-14 • Polices & Procedures 15-17 Non - Mandatory Documents 1. Signatures Title Page No. Check to be made Centre CPC • Power of Attorney 23-24 Compulsory signature of the Principal Signatories • Demat Fee Schedule 25-26 Compulsory signature of the Principal Signatory • Letter of Confirmation 27-41 Compulsory signature of the Principal Signatory • Terms & Condition 43-69 Compulsory signature of the Principal Signatory • Customer Confirmation 71 Compulsory signature of the Principal Signatory Other checks• Agreement is still valid (i.e. the franking date within 6 months of agreement date).• Signature at all places is matching.

Checklist Verified:

Name of the CAT ________________________ Signature _______________________________

Employee Code ________________________

Sub Broker Corporate AOF Part B MANDATORY...

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