Policy for Penny Stock : The stocks, which are appearing in the list of illiquid
securities issued by the Exchanges every month. These stocks are generally considered
to be highly speculative and high risk because of their lack of liquidity, large
bi-ask spreads, small capitalization and limited following and disclosure. Depend
on the market condition and RMS Policy of the company RMS reserve the right to refuse
to provide the limit in Penny stocks and losses if any on account of such refusal
shall be borne by client only.
Setting up client’s exposure limits : The time to time impose and vary limits
on the orders that the client can place through the ASCPL trading system (including
exposure limits, turnover limits, limits as to the number, value and/or kind of
securities in respect of which orders can be placed etc.). The client is aware and
agrees that we need to vary or reduce the limits or impose new limits urgently on
the basis of the ASCPL risk perception and other factors considered relevant by
the us including but not limited to limits on account of exchange/SEBI directions/limits
(such as broker level/market level limits in security specific/volume specific exposures
etc.), and may be unable to inform the client of such variation reduction or imposition
The client agrees that the ASCPL shall not be responsible for such variation, reduction
or imposition or the client’s inability or route any order through the ASCPL trading
system on account of any such variation, reduction or imposition of limits. The
Client further agrees that the ASCPL may at any time, at its sole discretion and
without prior notice, prohibit or restrict the client’s ability to place orders
or trade in securities through the ASCPL, or it may subject any order place by the
client to review before its entry into the trading systems any my refuse to execute/allow
execution of orders due to but not limited to the reason of lack of margin/securities
or the order being outside the limits set by ASCPL/Exchange/SEBI and any other reasons
which the ASCPL may deem appropriate in the circumstances. The client agrees that
the losses, if any on account of such refusal or due to delay caused by such review,
shall be borne exclusively by the client alone.
We have margin based RMS System, Total deposits of the clients are uploaded in the
system and client may take exposure on the basis of margin applicable for respective
security as per VAR based margining system of the stock exchange and/or margin defined
by RMS based on their Risk Perception. Client may take benefit of “credit for sale”
i.e. benefit of share held as margin by selling the same by selection Delivery option
through order entry window on the trading platform, the value of share sold will
be added with the value of deposit and on the basis of that client may take fresh
Applicable Brokerage Rate : Exclusive of Stamp duty, Service tax, STT (Securities
Transaction Tax) and any other statutory levies Brokerage will be charged within
the limits prescribed by SEBI/Exchange. It is hereby further, clarified that brokerage
on option contract shall be charged on the premium amount at which the option contract
was bought or sold, not on the strike price of the option contract. Subject to revision
at our sole discretion and as informed by a circular sent by ordinary post/courier
services/email. It would be the duty of client to note the said charges regularly
and periodically and shall not raise any dispute or claim in respect to said charges
at any later stage. Further it is clarified that the above mentioned charges could
vary from client to client at the sole discretion of SIL and No client would have
any right to compare or claim charges charged from other client by ASCPL. .
Imposition of penalty charges : The Client agrees that the ASCPL may impose
fines / penalties for any orders / trades / deals / actions of the client which
are contrary to this agreement / rules / regulations / bye laws of the exchange
or any other law for the time being in force, at such rates and in such form as
it my deem fit. Further where the ASCPL has to pay any fine or bear any punishment
from any authority in connection with / as a consequence of /in relation to any
of the orders / trades / deals actions of the client, the same shall borne by the
The right to sell client’s securities or close client’s positions, without giving
notice to the client, on account of non payment of client’s due :Without
prejudice to the ASCPL’s other rights (Including the right to refer the matter to
arbitration), the ASCPL shall be entitled to liquidate /close out all or any of
the clients position without giving notice to the client for non payment of margins
or other amounts including the pay in obligation, outstanding debts etc and adjust
the proceeds of such liquidation/close out, if any, against the clients liabilities
The client shall ensure timely availability of funds/securities in form and manner
at designated time and in designated bank and depository account(s), for meeting
his/her/its pay in obligation of funds and securities. Any and all losses and financial
charges on account of such liquidations/closing out shall be charged to & born by
the client. In case of securities lying in margin account/client beneficiary account
and having corporate actions like Bonus, Stock split, Right issue etc, for margin
or other purpose the benefit of shares due to received under Bonus, Stock split,
Right issue etc. will be given when the shares is actually received in our designated
In case the payment of the margin/securities is made by the client through a bank
instrument, the ASCPL shall be at liberty to give the benefit/credit for the same
only on the realization of the funds from the said bank instruments etc, at the
absolute discretion of the ASCPL. Where the margin/security is made available by
way of securities or any other property, we have empowered to decline its acceptance
as margin/security &/or to accept it at such reduced value as the ASCPL may deem
fit by applying haircuts or by valuing it by marking it to market or by any other
method as the ASCPL may deem fit in its absolute discretion.
The ASCPL has the right but not the obligation, to cancel all pending orders and
to sell/close/liquidate all open positions/securities/shares at the pre-defined
square off time or when Mark to Market (M-T-M) percentage reaches or crosses stipulated
margin percentage, whichever is earlier, We have sole discretion to decide referred
stipulated margin percentage depending upon the market condition. In the event of
such square off, the client agrees to bear all the losses based on actual executed
prices, the client shall also be solely liable for all and any penalties and charges
levied by the exchange(s).
Shortages in obligations arising out of internal netting of traders : ASCPL
shall not be obliged to deliver and securities or pay any money to the client unless
and unit the same has been received by the ASCPL from the exchange, the clearing
corporation/clearing house or other company or entity liable to make the payment
and the client has fulfilled his/her/its obligations first. The policy any procedure
for settlement of shortage in obligations arising out of internal netting of the
traders is as under
The Short delivering client is debited by an amount equivalent to 20% above of closing
rate of day prior to pay in/Payout Day. The securities delivered short are purchased
from market on T+2 day and the purchase consideration (inclusive of all statutory
taxes & levies) is debited to the short delivering seller client along with reversal
entry of provisionally amount debited earlier.
If securities cannot be purchased from market due to any force majeure condition,
the short delivering seller is debited at the closing rate on T+2 day or Auction
day on Exchange +10% where the delivery is matched partially or fully at the Exchange
Clearing, the delivery and debits/credits shall be as per Exchange Debits and Credits.
In cases of securities having corporate actions all cases of short delivery of cum
transactions which cannot be auctioned on cum basis or where the cum basis auctioned
on cum basis or where the cum basis auction payout is after the book closure/record
date, would be compulsory closed out at higher of 10% above the official closing
price from first trading day of the settlement till the auction day.
We have margin based RMS system. Client may take exposure up to the amount of margin
available with us. Client may not be allowed to take position in case of non-availability/shortage
of margin as per our RMS policy of the company. The existing position of the client
is also liable to square off/close out without giving notice due to shortage or
margin/non making of payment for their paying obligation/outstanding debts.
Temporarily suspending or closing a client’s account at the client’s request :
On the request of the client in writing, the client account can be suspended temporarily
and same can be activated on the written request of the client only. During the
period client account is suspended, the market transaction in the client account
will be prohibited. However client shares/ledger balance settlement can take place.
On the request of the client in writing, the client account can be closed provided
the client account is settled. If the client wants to reopen the account in the
case client has to again complete the KYC requirement.
Deregistering a client : Not with standing anything to the contrary stated
in the agreement, the ASCPL shall be entitled to terminate the agreement with immediate
In any of the following circumstances
If the action of the client are prima facie illegal/improper or such as to manipulate
the prices of any securities or disturb the normal/proper functioning of securities
or disturb the normal/proper functioning of the marketing, either alone or in conjunction
If there is any commencement of a legal process against the client under any law
On the death/lunacy or other disability of the Client
If the client being a partnership firm, has any steps taken by the Client and/or
its partners for dissolution of the partnership.
If the Client suffers any adverse material change in his/her/its financial position
or default in any other agreement with the us.
If there is reasonable apprehension that the Client unable to pay its debts or the
Client has admitted its inability to pay its debts, as they become payable.
If the Client is in breach of any term, condition or covenant of this Agreement
If the Client has made any material misrepresentation of facts, including (without
limitation) in relation to the Security.
If a receiver, administrator or liquidator has been appointed or allowed to be appointed
of all or any part of the undertaking of the Client.
If the Client have taken or suffered to be taken any action for its reorganization,
liquidation or dissolution.
If the Client has voluntarily or compulsorily become the subject of proceedings
under any bankruptcy or insolvency law or being a company, goes into liquidation
or has a receiver appointed in respect of its assets or refers itself to the Board
for Industrial and Financial Reconstruction or under any other law providing protection
as a relief undertaking.
If any covenant or warranty of the Client is incorrect or untrue in any material
Inactive Client account : Client account will be considered as inactive if
the client does not trade for period of six month. Calculation will be done at the
beginning of every month and those clients who have not traded even a single time
will be considered as inactive, the shares/credit ledger balance if any will be
transferred to the client within one week of the identifying the client as inactive.
The client has to make written request for reactivation of their account.
Trading in Exchange is in Electronic Mode, based on VSAT, leased line, ISDN, Modem
and VPN, combination of the technologies and computer systems to place and route
orders. I/we understand that there exists a possibility of communication failure
or system problems or slow or delayed response from system or trading halt or any
break down in our back office/front end system, or any such other problems/glitch
whereby not being able to establish access to the trading system/network, which
may be beyond your control and may result in delay in processing or not processing
buy or sell Orders either in part or in full. I/We shall be fully liable and responsible
for any such problem/fault.
Client Acceptance of Policies and Procedures stated here in above :I/We have
fully understood the same and do hereby sign the same and agree not to call into
question the validity, enforceability and applicability of any provision/clauses
this documents any
circumstances what so ever. These Policies and Procedures may be amended/changed
unilaterally by the broker, provided the change is informed to me/us with through
any one or more means or methods, I/we agree never to challenge the same on any
grounds including delayed receipt/ non receipt or any other reasons whatsoever.
These Policies and Procedures shall always be read always be read along with the
agreement and shall be compulsorily referred to while deciding any dispute/difference
or claim between me/us and ASCPL before any court of law/judicial/adjudicating authority
including arbitrator/mediator etc.