TERMS & CONDITIONS
TERMS & CONDITIONS OF http://www.aasmaasecurities.com
AND OFFLINE TRADING THROUGH ANY OF THE TERMINALS OF AASMAA SECURITIES PVT LTD
The following should be read carefully and accepted prior to becoming a Constituent for offline and
online trading i.e. for trading, viewing, downloading, using, copying, availing the facilities and/or
any information, or any part thereof, as the case may be, as may be made available from time to time
on the Web-Site and/or entering into any Equity, Stock F&O and Currency dealings through the agency
of Aasmaa Securities Pvt Ltd whether by use of any of the facilities available on the Web-Site, or by
any other means whatsoever. Whereas, ww.aasmaasecurities.com (hereinafter referred to as the “Web-Site”)
is a product and service provided by AASMAA.
AASMAA offers its services and the Web Site for use in accordance with the Terms and Conditions of Use
(the “Terms”) contained herein. Please read the following, which contains important information concerning
use of the Web Site. The use of the Web Site is conditional upon and subject to, acceptance of and compliance
with, the Terms. And whereas for offline the Constituent can avail the facilities subject to acceptance
of and compliance with the terms contained herein
I. i Ownership of the Web-Site
- (a)AASMAA (hereinafter also referred to as the “Member”) being a broker registered with the National
Stock Exchange of India Limited (NSE), Bombay Stock Exchange Ltd (BSE), METROPOLITAN Stock Exchange
Limited (MSEI) thereby being entitled to effect purchase and sale transactions of Equities, Stock F&O
and Currencies (hereinafter referred to as the “Stock & Currency Dealings”) offline and online admitted
to the NSE, BSE and MSEI (hereinafter referred to as the “Admitted Stock & Currencies”), for and on
behalf of third parties.
is owned, operated and maintained by Aasmaa Securities Pvt Ltd (AASMAA)
I. ii Registration for use of the Facilities and Services
- (a)Any person visiting the Web Site may access and use the Facilities by establishing an online
persona with a unique 'Client ID' and 'Password', in the manner as indicated on the Web-Site. “Facilities”
shall mean and include any information, materials, documents, chat-room facilities, downloads (software
or otherwise), data, Stock & Currency market quotation ticker tape facilities, and all other information
and utilities contained or accessible on or through the Web Site as may be provided on the Web Site
from time to time, [other than any information directly required in relation to the Services].
- (b)Only persons who enter into an agreement (hereinafter referred to as the “Member-Constituent
Agreement”) with the Member and who have been provided with a unique Trading Password for online trading
and unique Client Code for offline trading (hereinafter, such persons being referred to as the “Constituent”)
by the Member in the manner as indicated on the Web-Site for online trading and give exact code for
offline trading respectfully shall be entitled to avail the Services provided by the Member.“Services”
provided by the Member shall mean the purchase and/or sale of the Admitted Equity, Stock F&O and Currency
upon receipt of orders, either electronically via the Web-Site or orally via telephone (as stipulated
in the Member Constituent Agreement) or written, from the Constituent to purchase and/or sell the same
and shall include such other services and facilities that may be offered from time to time by the Member,
in its position as a NSE, BSE and MSEI trading member.
- (c)The Terms shall be deemed to form part of the Member-Constituent Agreement and shall be deemed
to be incorporated therein to the same extent as if these provisions had been set forth in full therein.
The Constituent's entitlement to avail the Services or any part thereof shall be subject to compliance
with all the terms and conditions set forth herein.
- (d)The words I/WE, ME/US, MY/OUR refer to person(s) who open the account(s) and shall mean and
include both singular and plural. AASMAA refers to Aasmaa Securities Pvt Ltd
II. CONDITIONS OF USE OF THE SERVICES
II. i Subject Matter of the Services
The Services offered by the Member include the sale and purchase of dematerialized Equity, Stock F&O
and Currency trading on the NSE, BSE and MSEI (in e-trading account on the internet and also in off-line
trading and delivery of Equity, Stock F&O and Currency in physical mode wherever the same is traded
on off-line on specific direction received by the 'Member' at any of their terminals) in the cash/normal
segment of the market [and shall include trading in derivative products or in the carry forward segment,
and such other services/ products as may be permitted from time to time].
II. ii Order Entry
- (a)The Constituent shall be entitled to place an order for the sale or purchase of any Admitted
Equity, Stock F&O and Currency at any time, regardless of the duration of the trading hours of the NSE,
BSE and MSEI, through e-mail, writing, telephonic placement by the Constituent or his duly authorized
representatives whose particulars has been provided by the Constituent to the member and on receipt
of such instructions those orders shall be forwarded for the execution.
- (b)All orders entered by Constituent, either electronically or otherwise as detailed above, are
based upon their investment decisions and their sole responsibility and will not hold, nor seek to hold
the Member or any of its officers, directors, employees, agents, subsidiaries or affiliates, liable
for any trading losses or other losses incurred by Constituent, including in the event that any order
is placed by the Constituent on the basis of the Facilities or any information (including any investment
information, advice, research reports, or any other information) that may be made available on the Website.
- (c)The Member shall be deemed to not have received any order whether electronically transmitted
or otherwise until it has confirmed the receipt of such order as mentioned in sub-clause II.ii (a).
- (d)The Constituent agrees that placing an order with the Member, either electronically or otherwise,
does not guarantee execution of the order, regardless of the confirmation by the Member of the receipt
of the order and/or its execution and the Member shall not be liable for any losses, damage or claims
on account of the non execution of any order placed.
- (e)The Constituent hereby accepts all responsibility for knowing the status of Equity, Stock
F&O and Currency he/she/it intends to trade in or held in his/her/its account. The Constituent further
accepts all responsibility for knowing the correct ISIN numbers of the Equity, Stock F&O and Currency
in his/her/its account and the eligibility of the Equity, Stock F&O and Currency to meet share pay in
obligations to the NSE, BSE and MSEI whether received by way of purchases, off market transfers or otherwise.
- (f)Prior to placing an order in connection with the sale/purchase or transfer of any Equity,
Stock F&O and Currency in which Constituent requires any form of regulatory or other permission, the
Constituent must advise the Member of the status of the Equity, Stock F&O and Currency and furnish necessary
documents including opinions of legal council prior to the execution of the order. The Constituent acknowledges
and accepts that delays may occur in relation to the processing of such orders, despite the necessary
documents being furnished in a timely manner. The Member may at its sole discretion refuse to execute
any such order till it is satisfied of the legality of the transaction. The Constituent is responsible
for all costs associated with compliance or failure to comply with all the regulatory requirements and
hereby agrees to fully indemnify the Member from any costs, losses, claims or other liability arising
on account of such orders.
II. iii Order Execution
- (a) In the event that the order is placed during the trading hours of the NSE, BSE and MSEI,
it shall be routed to and executed on the market system. However, in the event that the order is placed
at any other time, the order shall be routed to and executed during the next succeeding trading session
of the NSE, BSE and MSEI.
- (b) The Constituent agrees and appoints the Member as its agent to take all necessary measures
to complete the transactions and hereby authorizes the Member to make any and all advances and expend
monies as may be required.
- (c) The Constituent acknowledges that whilst orders are normally routed through the market systems
almost simultaneously with the placing of the order, the Constituent is aware that the Member has provided
on the Web- Site a facility for reconfirmation of orders which are larger than those specified by the
Member's risk management policy and is also aware that the Member has the discretion to reject the execution
of such orders based on such risk management policy. The Member shall not be liable for any delay or
cancellation of any order due to the exercise of the Member's discretion under such policy.
- (d) The Constituent acknowledges and accepts that the Member has the sole discretion to reject
or cancel any order that may be placed by the Constituent for any reason whatsoever, including for any
breach of the Margin requirements as stipulated hereunder in Paragraph II.vi and the Member shall not
be liable for any losses, damage or claims on account of such rejection or cancellation as the case
- (e) The Constituent acknowledges and accepts that the NSE, BSE and MSEI may reject or cancel
any trade suo moto without ascribing any reasons therefore and the Member shall not be liable for any
losses, damage or claims on account of such rejection or cancellation as the case may be.
- (f) The Constituent further acknowledges and accepts that it will receive the price at which
the order was actually executed in the marketplace, which may be different from the price at which the
Equity, Stock F&O and Currency was traded when the order was entered into the Member's system.
- (g) The Constituent hereby agrees that Member shall not be responsible or liable for the execution
of any order that may have been placed by the Constituent or any unauthorized use of the Constituent's
Trading Password by any person.
- (h) The cancellations or modifications to orders placed are not guaranteed. Cancellation of orders
is possible only if the original order remains pending at the NSE, BSE and MSEI. The cancellation or
modification of an order shall be deemed not to have been executed unless a confirmation to such effect
is received from the Member. The Constituent agrees that the Member shall not be liable for any losses,
damage or claims on account of the non-execution or delayed execution of an order of cancellation or
modification. Unless otherwise specified by the Member, any order not executed at the end of the relevant
NSE, BSE and MSEI trading day shall stand cancelled. To remove any doubt, it is hereby clarified that
an order placed prior to or during the trading day at the NSE, BSE and MSEI, shall not remain valid
for execution at any subsequent trading day at the NSE, BSE and MSEI.
- (i) The Constituent also accepts responsibility for knowing the trading and settlement cycles
of the NSE, BSE and MSEI and the settlements pay in/pay out dates for funds and Equity, Stock F&O and
Currency and in the event any trades or transactions are reported late to the Member on account of any
problems at the Exchange or for whatever reason, the Constituent in turn will be subject to late reporting
- (j) Any errors reported to the Constituent for any reason whatsoever will stand subsequently
corrected to reflect the transaction that was effected in the market and the Constituent agrees that
the Member shall not be liable for any damage, loss or claim in account of such error or correction
II. iv Purchase of the Admitted Equity, Stock F&O and Currency
- (a) Prior to placing any order for the purchase of any Admitted Equity, Stock F&O and Currency,
the Constituent shall ensure that sufficient cash credit balance is available in its account with the
Member. The Constituent is responsible for all of their orders, including any orders, which exceed the
available cash, credit balances available to its account and are executed by the Member, inadvertently
- (b) Any order accepted and executed, inadvertently or otherwise, without sufficient cash credit
balance will be subject to cancellation or liquidation at the Member's discretion, unless the Constituent
immediately, upon demand by the Member, makes good the shortfall in the amount as indicated by the Member.
- (c) The date for payment in the case of purchase of Equity, Stock F&O and Currency by the Constituent
will be viewed on the day to day basis by the member and the same shall be intimated by the member to
the Constituent either telephonically or otherwise as required for maintaining the account of outstanding
as per NSE, BSE and MSEI rules and the Constituent shall within two days make up the deficiency of balance
and bring it to cash credit with the reasonable margin to withstand his future transactions within the
'margin' limit provided herein after on the date intimated by the Member to the Constituent for the
same (the “Intimated Date”) and which may be a date which is at least [two] working days in advance
of the pay in date of the NSE, BSE and MSEI.
In the case where the payment is not made by the Intimated Date, the Equity, Stock F&O and Currency
purchased by the Member on behalf of the Constituent shall be liable to be sold without any further
reference to the Constituent and any loss or damage as a result of such sale would be borne solely by
II. v Sale of the Admitted Equity, Stock F&O and Currency
- (a) Prior to placing any order for the sale of any Admitted Equity, Stock F&O and Currency, the
Constituent shall ensure that the concerned Equity, Stock F&O and Currency is available in sufficient
quantity in its/his/her account with the Member. The Constituent is responsible for all of their orders,
including any orders, which exceed the available quantity of the relevant Equity, Stock F&O and Currency
and are executed by the Member, inadvertently or otherwise.
- (b) The Constituent agrees and hereby authorizes the Member to block as sold the relevant Equity,
Stock F&O and Currency, as standing to its/his/her account, against its/his/her order to sell Equity,
Stock F&O and Currency. If its/his/her order gets executed either fully or partially then the Equity,
Stock F&O and Currency to the extent sold, would be unblocked on the trade date and the transaction
would be effected. The Constituent agrees that it/he/she shall not withdraw/pledge or otherwise use
or attempt to withdraw/pledge or otherwise use, the blocked Equity, Stock F&O and Currency. The Constituent
hereby authorizes the Member to dishonor any orders issued against the blocked Equity, Stock F&O and
- (c) The Constituent acknowledges and agrees that the proceeds of the sale will not be credited
to the cash credit balance account of the Constituent until the Equity, Stock F&O and Currency have
been delivered to the NSE, BSE and MSEI/clearing house and payout is received from the NSE, BSE and
MSEI/clearing House. The proceeds of all sales will be credited, to the cash credit balances account
of the Constituent as maintained by the Member, directly after settlement date.
- (d) If the Equity, Stock F&O and Currency are not received on or before the settlement date or
Equity, Stock F&O and Currency received are not in deliverable state or due to any other reason whatsoever,
the Constituent is not able to deliver Equity, Stock F&O and Currency, the Equity, Stock F&O and Currency
will be auctioned or closed out as per the rules of the NSE, BSE and MSEI. Consequently, the Constituent
will be responsible for any resulting losses and all associated costs including any penalty levied by
the NSE, BSE and MSEI.
II. vi Margins
- (a) The Constituent shall maintain such quantity of Equity, Stock F&O and Currency and such amount
of cash credit balances (hereinafter referred to as the “Margin”) as required by the applicable statutes,
rules, regulations, procedures or as deemed necessary or advisable by the Member, provided that the
Margin shall not at any time be less than Prescribed margin percentage of the price of the Admitted
Equity, Stock F&O and Currency proposed to be purchased or sold. The Constituent agrees that no interest
shall be payable on the Margin as maintained with the Member. The Constituent shall be permitted to
trade unto a predetermined number of times of the Margin and the quantum of such multiple shall be determined
at the sole discretion of the Member.
- (b) The margin requirement and squaring up process for offline and online trading is different,
the margin in online account will not be considered in the offline account and vice-versa unless specifically
directed by Constituent. The accounting process for both accounts is different and is independent of
- (c) In case there is any change in policy relating to Risk Management pertaining to margin requirement
and Squaring up process the same would be reflected in the website www.aasmaasecurities.in and at the
registered Office and terminals of the member and the onus is on the Constituent to keep check, understand,
and agree with The Risk Management policy pertaining to margin requirement and squaring up process from
time to time.
- (d) The Constituent shall also remain in touch with the member to keep a regular check on his
account and margin Requirements, for maintaining sufficient margin with the member to undertake any
transaction in his a/c in off line And online trading. If the Member considers it necessary for its
own protection, it may require the Constituent to Immediately on demand deposit cash or Equity, Stock
F&O and Currency to their account prior to any applicable settlement date in Order to assure due performance
of their open contractual commitments. If Constituent does not provide such additional cash or Equity,
Stock F&O and Currency, the Constituent hereby grants to the Member the right to sell any or all Equity,
Stock F&O and Currency extant in their account, buy any or all relevant Equity, Stock F&O and Currency
which may be short in their account, Cancel any or all open orders and/or close any or all outstanding
- (e) In addition, Constituent acknowledges and agrees that the Member may exercise any or all
of the above rights, prior to or without any demand, for additional cash or Equity, Stock F&O and Currency,
or notice of sale or purchase, or other notice or Intimation. Any such sales or purchases may be made
at any time at the sole discretion of the Member on any market where such business is usually transacted,
or at public auction or private sale, or the Member may purchase/sell for its own account. The making/giving
of any prior demand or call or notice of the time and place of such sale or purchase shall not be considered
as a waiver of any rights of the Member to sell or buy without any such demand, call or notice, at that
time or at any time subsequently.
- (f) In addition to the above, if the Constituent does not credit its cash or Equity, Stock F&O
and Currency account as maintained with the Member, to make up any shortfall in the Margin, instantaneously,
to enable restoration of the Margin in Constituent's account, the position of the Constituent may be
squared off by the Member, without any further reference to the Constituent and without prior notification,
and any resultant or associated losses that may occur due to such squaring off shall be borne by the
Constituent, and the Member is hereby fully indemnified and held harmless by the Constituent in this
behalf. In case where the payment by the Constituent towards the Margin is made through a cheque issued
in favour of the Member, any trade would be executed by the Member only upon the realization of the
funds of the said cheque.
II. vii Confirmations and Contract Notes
- (a) The Constituent is required to ascertain the status of its/his/her order (including any rejection
of the same) which would be posted on the relevant sections of the Website or the Constituent 1may enquire
the balance as maintained by member or the member shall keep sending the details of contract notes and
the status of his account on fortnight basis wherever the Constituent is availing the services of the
member 'offline' from any terminals of the member.
- (b) Constituent understands that it is its/his/her responsibility to review, upon first receipt,
whether delivered to Constituent by mail, by e-mail, or other electronic means, all confirmations, statements,
notices and other communications, including but not limited to, margin, maintenance calls, and prospectuses.
Notices and other Communications may also be provided to Constituent verbally, in writing or by other
- (c) The Member shall deliver to the Constituent via email or other electronic means a contract
note of the trades executed on their behalf on the trade date, or should post such information on the
website, within 24 hours of the execution of the order. The contract note shall be final and binding
proof of the order placed by the Constituent, Regardless of any apparent or alleged errors.
- (d) All information contained in any confirmation, contract note or other communications shall
be binding upon the Constituent in relation to all transactions, whether the orders are given by the
Constituent through the Web-Site or by telephonic means or otherwise.
II. viii Charges
- (a) The Constituent agrees to pay the brokerage charges, NSE, BSE and MSEI related charges, statutory
charges and any other charges (including but not limited to Equity, Stock F&O and Currency handling
charges on settlement) as they exist from time to time and as they apply to the Constituent's account,
in respect of transactions and services that the Constituent receives from the Member. The brokerage
shall be paid in the manner intimated by the Member to the Constituent from time to time, including
as a percentage of the value of the trade or as a flat fee or otherwise, together with the service tax
as may be applicable from time to time on the same. The Constituent further agrees to pay any applicable
taxes that may be levied on the transaction.
- (b) The Member shall debit the charges of the depository participant for the trades and the bank
charges for the realization of cheques etc. to the Constituent account.
- (c) Notwithstanding anything contained in these Terms, any amounts which are overdue from the
Constituent to the Member will be charged delayed payment charges at the rate of [2%] per month or such
other rate as may be determined by the Member and notified on the web site and the Constituent hereby
authorizes the Member to directly debit the same to the account of the Constituent. II.ix Constituents
Cash Credit and Equity, Stock F&O and Currency Accounts
- (a) The Member shall maintain such books of account in such manner so as to show and distinguish
in connection with its business as a trading member broker the moneys and Equity, Stock F&O and Currency
received from or on account of each of the Constituents, and the moneys and Equity, Stock F&O and Currency
received on its own account.
- (b) The Constituent is required to ascertain all ledger balances of moneys and Equity, Stock
F&O and Currency standing to its credit, which would be posted only on the relevant sections of the
web site, and no separate intimation of the ledger balances of the Constituent in his account would
be sent to the Constituent either physically or electronically. The information as contained in the
ledger balances shall be binding upon the Constituent and the Constituent hereby agrees that the Member
shall not be liable for any loss, damage or claim on account of any error in the information contained
in the ledger balances.
- (c) All payments in respect of transaction made by the Constituent to the company shall be payable
at Hyderabad, drafts and cheques in that behalf shall be drawn in favour of the company and shall be
payable at Hyderabad. Final settlement of outstanding account in respect of transactions between the
company and Constituent and periodical settlement and termination of contract shall be struck and finalized
at the company Head Office at Hyderabad.
- (d) The Constituent hereby authorizes and empowers AASMAA to adjust all the debts/credits (funds/
Equity, Stock F&O and Currency) resulting from trading transactions in any of the following segment
of NSE, BSE and MSEI and vice-versa in order to discharge any financial liability towards AASMAA in
- (e) That the Constituent authorizes the trading member to maintain a running account for me/us/we
for adjustment of any debit/credit resulting from any transactions by it/him/her in one settlement for
adjustment towards it/her/his credit/debit in subsequent settlements.
- (f) All transactions with NSE, BSE and MSEI will be subject to the rules, regulations and Bye-laws
of NSE, BSE and MSEI apart from the existing terms and conditions as mentioned thereof.
- (g) To avoid any ambiguity it is hereby provided that notwithstanding anything contained in these
Terms or in the Member-Constituent Agreement or any other understanding or agreement between the Member
and Constituent, the Member's own records of the orders, cancellations, modifications, trades and transactions,
in whatsoever manner maintained shall be deemed to be and is hereby accepted by the Constituent as conclusive
and binding on the Constituent for all purposes and further the Constituent shall not challenge the
accuracy, truth, or correctness of the said records in any manner and for any purpose whatsoever.
II. x Set off, lien, pledge etc.
- (a) Nothing in the Terms or the Member-Constituent Agreement shall deprive the Member of any
recourse or right, whether by way of lien, set-off, counter claim or otherwise against any money or
Equity, Stock F&O and Currency standing to the credit of the Constituent's account.
- (b) All the Equity, Stock F&O and Currency and monies credited to the account of the Constituent
as maintained by the Member shall be subject to a lien for the discharge of any obligation or indebtedness
of the Constituent to the Member. In enforcing the lien the Member shall have the sole discretion of
determining the Equity, Stock F&O and Currency or assets that are to be liquidated and/or appropriated.
- (c) The Member shall have the right to pledge the Equity, Stock F&O and Currency standing to
the credit of the Constituent's account for the purpose of raising any finance from any person as may
be required to meet the Margin obligations of the Constituent. Further Constituent hereby authorizes
the Member to pledge any Equity, Stock F&O and Currency standing to its credit, to any person, whether
received by execution of an order for purchase or blocked pending the fulfillment of an order for sale,
for the purpose of securing to the Member a credit facility in connection with meeting the margin requirements
of any other Constituent, provided that the Member shall be fully liable for any resultant failure of
execution or default on delivery obligations directly caused by such pledge of the Equity, Stock F&O
II. xi Further Documentation
The Constituent agrees to complete any further documentation that may be required in relation to any
of the Equity, Stock F&O and Currency dealings or by any of the regulatory authorities or under the
Member's policies as may be notified from time to time or under any law, regulation, guideline, rule,
byelaw, order or other edict having the force of law.
II. xii Compliance with Laws
All transactions that are carried out by and on behalf of the Constituent shall be subject to Government
notifications, the rules, regulations and guidelines issued by Forward Market Commission, the Reserve
Bank of India and the National Equity, Stock F&O and Currency Depository Limited, the Central Depository
Services Limited, the Forward Contracts Regulation Act and the rules made there under, and the byelaws,
constitution, rules, regulations, customs and usage of the NSE, BSE and MSEI, if any.
III. ADDITIONAL CONDITIONS IN RELATION TO ELECTRONIC ORDERS
III. i List of Dematerialized Equity, Stock F&O and Currency
The Member shall notify the Equity, Stock F&O and Currency for which this facility is made available
from time to time on the Web Site. The Member would have the right to add or delete Equity, Stock F&O
and Currency for which the facility is made available in its absolute discretion and details of the
same would be posted on the Web Site and no separate intimation Whatsoever thereof will be sent to the
III. ii Protection of Constituent's Trading Password
The Constituent shall immediately notify the Member in writing, delivered via e-mail, Speed Post and
Registered AD, if the Constituent becomes aware of any loss, theft or unauthorized use of the Constituent's
Trading Password and account number; or any failure by the Constituent to receive an accurate written
confirmation of an execution Including the contract note for the same; or any receipt by the Constituent
of confirmation of an order and/or execution which the Constituent did not place; or any inaccurate
information in the Constituent's account balances, Equity, Stock F&O and Currency positions, or transaction
history. In the case where the Constituent notifies such loss, theft or unauthorized use of the Constituent's
Trading Password to the Member, the Member shall suspend the use of the account of the Constituent.
However, the Constituent shall be responsible and liable for all transactions that are carried out by
the use of the Constituent Trading Password. When any of the above circumstances occur, neither the
Member nor any of its officers, directors, employees, agents, affiliates or subsidiaries will have any
responsibility or liability to the Constituent or to any other person whose claim may arise through
the Constituent with respect to any of the circumstances described above.
III. iii Use of Constituent's Trading Password
The Constituent confirms and agrees that it will be the sole authorized user of the Trading Password
/s to be given to it by the Member. The Constituent accepts sole responsibility for use, confidentiality
and protection of the Trading Password/s as well as for all orders and information changes entered into
the Constituent's account using such Trading Password. The Constituent shall ensure that the Trading
Password/s is/are not revealed to any third party or recorded in any written or electronic form. If
the Constituent forgets the Trading Password, a request for change of the Trading Password should be
sent to the Member in writing. On receipt of such a request the Member shall discontinue the use of
the old Trading Password and shall generate a new Trading Password for the Constituent, which shall
be communicated to the Constituent. However, the Constituent shall be responsible and Liable for all
transactions that are carried out by the use of the old Trading Password. Neither the Member nor any
of its officers directors employees agents affiliates or subsidiaries will have any responsibility or
liability to the In addition, the Constituent hereby grants to AASMAA the right to with-hold its/he/her
Equity, Stock F&O and Currency payment and/or funds pay-out from the Equity, Stock F&O and Currency
exchange in part or full. Constituent or to any other person whose claim may arise through the Constituent
with respect to any of the circumstances described above.
III. iv Form of Trading Password
The Constituent shall use a Trading Password of 6-8 characters in length, which is a combination of
letters and numbers. The Trading Password shall not be a combination relating to name or age or other
personal information, which would render it easily deducible. The Trading Password shall be valid for
a period of one month only. In the case where the Constituent wishes to change his Trading Password
he can do so on the Web Site in the prescribed manner.
III. v Recording of Trading Password
The Constituent shall memories the Trading Password and not record it in written or electronic form.
In the event that the Constituent does record the Trading Password in written or electronic form, he/she/it
shall do so at his/her/its sole risk and responsibility.
III. vi Responsibility for Use of the Trading Password
Any order entered using the Trading Password is deemed to be that of the Constituent. If third parties
gain access to the Member's services through the use of the Trading Password, the Constituent will be
deemed to be responsible for the same and hereby indemnifies and holds harmless the Member against any
liability, costs or damages arising out of claims or suits by or against such third parties based upon
or relating to such access and use, since the primary responsibility for such transaction shall be that
of the Constituent.
III. vii Communications Equipment of the Constituent
The Constituent is responsible for installing and maintaining the communications equipment (including
personal computers and modems) and telephone or alternative services required at the Constituent's end
and connectivity required for accessing and using the web site or related services. All communications
service charges, levies and fees incurred by the Constituent in accessing the web site or related services
will be borne by the Constituent.
III. viii Constituent's Infrastructure
For the purposes of these Terms, it is presumed that the Constituent has all the necessary and compatible
infrastructure ready at its end for the purpose of accessing the web site of the Member prior to accessing
the services provided pursuant to these Terms. The Member will not (and shall not be under any obligation
to) assist the Constituent in installing the required infrastructure or obtaining the necessary equipment
permits and clearances to establish connectivity or linkages to the web site of the Member.
III. ix Prevention of Unauthorized Use
The Constituent will install the necessary safeguards and access restrictions to prevent unauthorized
use of Constituents computer systems and ensure that no unauthorized person can gain access to the computer
IV. ADDITIONAL CONDITIONS IN RELATION TO ORAL ORDERS ON-LINE AND OFF-LINE
- (a) The Constituent agrees and hereby authorizes the Member at its sole discretion and without
any prior notice to the Constituent, to record any conversation between the Constituent and the Member.
Such recording shall be deemed to be and is hereby accepted by the Constituent as conclusive and binding
on the Constituent for all purposes and further the Constituent shall not challenge the accuracy, truth,
or correctness of the said records in any manner and for any purpose whatsoever.
- (b) The Constituent hereby agrees that the Member shall not be liable for any losses, damage
or claim on account of transactions effected by the Member on behalf of the constituent arising from
any incorrect or erroneous transfer or collection of the order instructions from the Constituent.
V. MEMBER CONSTITUENT COMMUNICATIONS
V. i Form of Communication
Documents, which may be sent by electronic delivery between the parties, may be in any of the following
- (a) An electronic mail ('e-mail') including any automated replies from the system of the Member,
- (b) An electronic mail attachment, or
- (c) In the form of an available download from the web site.
- (d) By telephonic information duly recorded.
- (e) By courier containing details of transaction confirmations, account statements requisition
of any delivery related documents on the last known address of the Constituent.
V. ii Change of Address
Unless the Constituent informs the Member of the change of the address for communication in writing,
all notices, circulars, communication or mail sent to the existing address shall be deemed to have been
received by the Constituent irrespective of whether they are actually received or not.
V. iii Notices/ Policies
Certain policies and/or procedures may be further outlined on the Member's web site and material/literature
and frequently asked questions (FAQ's) may be provided to the Constituent. Through the use of the Member's
web site and services, the Constituent agrees to be bound by any and all such notices, policies and
terms of doing business.
The Member-Constituent Agreement and access to the use of the Web-Site, the Services, the Facilities
and the Content may upon notice of one month be terminated by mutual consent of the Constituent and
- (b) The termination of the Member-Constituent Agreement and access to the use of the Web-Site,
the Services, the Facilities and the Content will not affect the rights and/or obligations of either
the Member or the Constituent incurred prior to the date of such termination and the parties shall enjoy
the same rights and shall have the same obligations in respect of such transactions.
VII. MISCELLANEOUS INFORMATION
VII. i Facilities and Web Content
- (a) The Constituent acknowledges and agrees that each participating Equity, Stock F&O and Currency
exchange or association or agency asserts a proprietary interest in all of the market data it furnishes
to parties that disseminate the said data. The Constituent shall use real-time quotes received on the
web site of the Member only for the Constituent's Individual use and shall not furnish such data to
any other person or entity. The Constituent is authorized to use materials which are made available
by the Member's web site for the Constituent's own needs only, and the Constituent is not authorized
to resell access to any such materials or to make copies of any such materials for Sale or use to and
by others. The Constituent shall not delete copyright or other intellectual property rights notices
from printouts of electronically accessed materials from the Member's web site.
- (b) All materials published on the Web-Site, including, without limitation, information, text,
photographs, images, graphics, software, audio, and video and/or other visual reproductions (hereinafter
referred to as the “Content”) are intended solely for personal, non-commercial use. All rights pertaining
to the Content or any part thereof shall vest only in the relevant owners of the same and no other person
may modify, publish, transmit, participate in the transfer or sale of, reproduce (except as provided
herein), create derivative works from, distribute, perform, display or in any way exploit, any of the
Content, in whole or in part.
- (c) All Content is owned or controlled by AASMAA or the party credited as the provider of such
Content. The Content, and the entire Web-Site, including without limitation all materials published
by AASMAA and all postings On the Web-Site may be protected by copyright pursuant to Indian copyright
laws, international conventions, and other copyright laws. AASMAA owns a copyright in the selection,
coordination, arrangement and enhancement of such Content, as well as in the original component of the
Content itself. All persons visiting and/or using any of the Facilities on the Web-Site or viewing any
of the Content thereof (hereinafter such person shall be referred to as the “Visitor”, which term shall
mean and include the Constituent in relation to any use of the Facilities and Content) shall abide by
all copyright notices, conventions, and other copyright laws. The Visitor shall abide by all copyright
notices, information or restrictions contained in any Content accessed by or through the Web-Site. Reproduction
of the Web-Site site, in whole or in part, without the prior written permission of AASMAA is strictly
- (d) To the extent that any part of the Content may be downloaded or copied, the same may be done
only for personal non-commercial purpose(s) and use(s), and provided that all copyright and other notices
contained in such Content are faithfully maintained and the Content shall not be stored in any media
other than in the Visitor'® personal computer. In the event any software is downloaded from the Web-Site,
such software, including without limitation any files, images incorporated in or generated by the software,
and data accompanying the software, are licensed to the Visitor by AASMAA for personal, non-commercial
use and viewing only. The software may not be redistributed, sold, decompiled, reverse engineered or
otherwise reduced to a human perceivable form. AASMAA retains full and complete title and rights to
all intellectual property in Web Site.
- (e) AASMAA shall not be liable for truth, accuracy or completeness of the information or for
any errors, mistakes or omissions therein or for any delays or interruptions of such information for
whatever cause. It is expressly understood and agreed to by the Visitor that except as specifically
provided herein, all warranties, express or implied, including any implied warranties or merchantability
and/or fitness for a particular purpose, are hereby excluded.
VII. ii Third Party Providers/Links
The Web Site may contain links to other web sites on the World Wide Web. AASMAA is not responsible for
their resources or their content or the availability thereof.
VII. iii Submissions
- (a) The Visitor shall remain solely responsible for all submissions on and to the Website. AASMAA
is not responsible for the content or message of any submissions. AASMAA does not guarantee, and makes
no formal representation or warranty as to, the accuracy, veracity or completeness of any information
provided by others in any portion or page of the Web-Site, nor does AASMAA necessarily endorse, support,
sanction, encourage, verify, agree with, or reject, diminish or disagree with, the comments, opinions
or statements posted by others on the Web-Site.
- (b) While AASMAA does not and cannot review every message posted or item submitted to/on the
Web-Site, AASMAA reserves the right, in its sole discretion, but assumes no duty, to delete, move, or
edit submissions that it deems false, inappropriate, abusive, defamatory, obscene, in violation of copyright
or trademark laws, or otherwise unacceptable, and the Visitor expressly acknowledges and accepts that
its submissions may be edited, removed, modified, published, re-published, transmitted and displayed
by AASMAA in its sole discretion.
- (c) The Web Site and its Facilities including the discussion groups and chat rooms shall be used
only in a noncommercial manner. No part of the Web Site, discussion groups and/or chat rooms shall be
used to solicit Visitors to become users of commercial online information services or for any other
commercial services. The Visitor shall not disrupt or interfere with any aspect or element of the Web
Site nor shall the Visitor do anything, which, in the sole judgment of AASMAA, will restrict or inhibit
any other Visitor from using and enjoying the Web Site and/or any of its Facilities. The Visitor shall
not, without the express written approval of AASMAA, post or otherwise distribute any material containing
any solicitation of funds, advertising or solicitation for goods or services. The Visitor shall not
copy third party articles into the chat rooms or discussion groups available on the Web Site. No Visitor
shall tout or hype a Equity, Stock F&O and Currency or company, or post the same note on multiple occasions
in a single day (a practice known as 'spamming'). The Visitor shall not upload to, or otherwise submit
or publish through, the Web-Site any content or material which is libelous, defamatory, obscene, pornographic,
abusive, or hateful, or which invades anyone's privacy, encourages conduct that would constitute a criminal
offense, or otherwise violates any third party rights or local, state, federal or international law
- (d) Those Visitors with formal connections or affiliations to or with a company being discussed
in any forum, including among other things any and all positions of employment, directorships, consultancies
and/or substantial share holdings, must identify themselves as such, and disclose such connection or
affiliation, within their first post in that topic, company focus, or subject matter.
- (e) The author or creator of any and all submissions in print or other forms or other uploads
to the discussion groups and/or chat rooms, transfers and assigns to AASMAA, by virtue of submission
to the Web-Site and this agreement, the entire copyright, throughout the universe, in any and all media
and forms of publication, reproduction, transmission, distribution, performance, or display, The provisions
of this agreement shall always be subject to government notifications, and rules, regulations & guidelines
issued by SEBI & Equity, Stock F&O and Currency exchange rules, regulations & byelaws that may be in
force from time to time & the forward contracts regulation Act. The Rules there under and any other
applicable statutory provisions and/ or regulations, now in existence or hereafter developed, in such
work or other original materials; without separate, retained or reversionary rights being held by such
author, creator or other person submitting such work. AASMAA may exercise the rights granted herein
in such from as it may in its sole discretion determine; such that the submitted material may be published,
reproduced, reprinted, distributed, performed, displayed, included in anthologies and compilations,
and/or otherwise transmitted (including but not limited to electronic and optical versions and in any
other media now in existence or hereafter developed) in whole or in part, whether or not combined with
the work of others. In addition, AASMAA may use the name and electronic address of the author, creator
and/or other person submitting the work in publishing, promoting, advertising, and publicizing their
publications and information Products and services, and in any merchandising.
VII. iv Warranties of Constituent
- (a) The Constituent hereby represents and warrants that the terms and conditions of these Terms
have been clearly understood and that the information furnished to the Member is accurate and truthful
- (b) The Constituent confirms that it/he/she is of legal age and he/she/it has obtained the necessary
approvals from the relevant regulatory/ legal and compliance authorities to access the services provided
pursuant to these Terms.
VII. v Indemnity
- (a) Though orders are generally routed to the marketplace shortly after the time the order is
placed by the Constituent on the system there may be a delay in the execution of the order due to any
link/system failure at the Constituent/Member/NSE, BSE and MSEI end. The Constituent hereby specifically
indemnifies and holds the Member harmless from any and all claims, and agrees that the Member shall
not be liable for any loss, actual or perceived, caused directly or indirectly by government restriction,
exchange or market regulation, suspension of trading, war, strike, equipment failure, communication
line failure, system failure, Equity, Stock F&O and Currency failure on the Internet, shut down of systems
for any reason (including on account of computer viruses), unauthorized access, theft, any fraud committed
by any person whether in the employment of the Member or otherwise or any problem, technological or
otherwise, that might prevent the Constituent from entering the Member's system or from executing an
order or in respect of other conditions.
- (b) The Constituent further agrees that he/she/it will not be compensated by the Member for any
"lost opportunity' viz. notional profits on buy/sell orders which could not be executed or real loss
from delay in executed orders due to any reason whatsoever, including but not limited to time lag in
the execution of the order or the speed at which the system of the Member or of the Exchanges is operating
or the delay in Equity, Stock F&O and Currency quotes or any shutting down by the Member of his system
for any reason or the Member disabling the Constituent from trading on his system for any reason whatsoever.
VII. vi Member's Liability
- (a) Under no circumstances, including but not limited to negligence, shall the Member or anyone
involved in creating, producing, delivering or managing the Services be liable for any direct, indirect,
incidental, special or consequential damages, even if the Member or such person has been advised of
the possibility of such damages, that result from the use of or inability to use the service, delay
in transmission of any communication, in each case for any reason whatsoever (including on account of
breakdown in systems) or out of any breach of any warranty or due to any fraud committed by any person
whether in the employment of the Member or otherwise.
- (b) The Constituent agrees to fully indemnify and hold harmless the Member for any losses arising
from the execution of incorrect/ ambiguous or fraudulent instructions that got entered through the system
at the Constituent's end.
VII. vii Limitation of liability
The Member does not guarantee, and shall not be deemed to have guaranteed, the timeliness, sequence,
accuracy, completeness, reliability or content of market information, or messages disseminated to the
Constituent. The Member shall not be liable for any inaccuracy, error or delay in, or omission of,
- (1) Any such data, information or message, or
- (2) the transmission or delivery of any such data, information or message; or any loss or damage
arising from or occasioned by
- (i) Any such inaccuracy, error, delay or omission,
- (ii) Non-performance, or
- (iii) Interruption in any such data, information or message, due either to any act or omission
by the Member or to Any "force majeure" event (e.g., flood, extraordinary weather condition, earthquake
or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government,
communications, power failure, shut down of systems for any reason (including on account of computer
viruses), equipment or software malfunction), any fraud committed by any person whether in the employment
of the Member or otherwise or any other cause beyond the reasonable control of the Member.
VII. viii Interruption in service
The Member does not warrant that the service will be uninterrupted or error free. The service is provided
on an "as is" and "as available" basis without warranties of any kind, either express or implied, including,
without limitation, those of merchantability and fitness for a particular purpose. The Constituent agrees
that the Member shall not be held responsible for any breakdown of the system either due to the fault
of the systems of the Member or of the Exchanges or otherwise.
VII. ix Amendment/ Modification of the Terms
The Member may at any time amend these Terms, by modifying or rescinding any of the existing provisions
or conditions or by adding any new provision or condition, by conspicuously posting notice of such amendment
on the web site. The Member shall not be required to communicate any modification or rescission to the
Constituent either through physical or electronic form, and any notice of amendment or modification
is hereby waived by the Constituent. The continued use of the services of the Member after such notice
will constitute acknowledgement and acceptance of such amendment. These Terms (as amended or modified
from time to time) represent the entire agreement between the Constituent and the Member concerning
the subject matter hereof. The continued use of the Services by the Constituent constitutes the Constituent's
acceptance of any and all modifications and amendments of the Terms.
VII. x Severability
If any provisions or of these Terms are held invalid or unenforceable by reason of any law, rule, administrative
order or judicial decision by any court, or regulatory or self regulatory agency or body, such invalidity
or unenforceability shall attach only to such provision or terms held invalid. The validity of the remaining
provisions and terms shall not be affected thereby and these Terms shall be carried out as if any such
invalid or unenforceable provisions or terms were not contained herein.
VII. xi No Assignment
The rights of the Constituent under these Terms are not transferable under any circumstances and shall
be used only by the Constituent.
VII. xii Authorized Representative
The instructions issued by an authorized representative of the Constituent shall be binding on the Constituent
in accordance with the letter authorizing the said representative to deal on behalf of the Constituent.
VII. xiii Death or Insolvency
In the event of death or insolvency of the Constituent or of its otherwise becoming incapable of receiving
and/or paying for or delivering or transferring Equity, Stock F&O and Currency which the Constituent
has ordered to be bought or sold, the Member may close out the transaction of the Constituent and the
Constituent or its legal representative shall be liable for any losses, costs and be entitled to any
surplus which may result there from.
VII. xiv Dispute Resolution
- (a) The Member and the Constituent are aware of the provisions of the bye laws rules and regulations
of the NSE, BSE and MSEI relating to the resolution of the disputes/differences through the mechanism
of arbitration provided by the Exchanges and agree to abide by the said provisions insofar as any disputes
under these Terms relate to transactions that are to be carried out on the exchanges.
- (b) In so far as any other disputes or differences in connection with these Terms or their performance
(other than the disputes referred to in Paragraph VII.ivx (a) above) are concerned such disputes shall,
so far as it is possible, be settled amicably between the Parties and in the case where after 30 days
of consultation, the parties have failed to reach an amicable settlement, such disputes shall be submitted
to arbitration and such arbitration shall be conducted in accordance with the Indian Arbitration and
Conciliation Act, 1996 (the “Arbitration Act”) by an panel Consisting of a sole arbitrator. The Member
and the Constituent expressly consent and agree that the Chairman, AASMAA shall be the persona designated
to appoint the dais sole arbitrator. The venue of arbitration shall be Hyderabad and each party shall
bear the cost of arbitration equally unless otherwise awarded by the sole arbitrator.
- (c) The member maintains offices at different places within the knowledge of the Constituent
and the Constituent shall have all transaction with the principle office, but they may also avail facility
at its branches as well. Branch Managers shall also have the power to recover payments or make the payments
on behalf of the principles to such Constituents after obtaining the instruction in this behalf and
may give acknowledgement of such transaction on behalf of the head office. However all transaction may
be entered at branches shall be treated as transaction being done with the principle office and all
information shall remain with the Member at Hyderabad
VII. xv Foreign Jurisdiction
This service does not constitute an offer to sell or a solicitation of an offer to buy any Equity, Stock
F&O and Currency, Equity, Stock F&O and Currency or other instruments to any person in any jurisdiction
where it is unlawful to make such an offer or solicitation. This service is not intended to be any form
of an investment advertisement, investment advice or investment information and has not been registered
under any Equity, Stock F&O and Currency law of any foreign jurisdiction and is only for the information
of any person in any jurisdiction where it may be lawful to offer such a service. Further, no information
on the Web Site is to be construed as a representation with respect to Equity, Stock F&O and Currency,
Equity, Stock F&O and Currency or other Investments regarding the legality of an investment therein
under the respective applicable investment or similar laws or regulations of any person or entity accessing
the Web Site.
VII. xvi Dispute General
- (a) Notwithstanding anything contained in these Terms or in the Member-Constituent Agreement,
AASMAA/Member retains its right to:
- (i) In its sole discretion to alter, limit or discontinue the Website or any Materials in any
respect. AASMAA shall have no obligation to take the needs of any user into consideration in connection
- (ii) Deny in its sole discretion any user access to this Website or any portion thereof without
- (b) No waiver by AASMAA of any provision of this Agreement shall be binding except as set forth
in writing signed by its duly authorized representative.
VII. xvii Other General Terms and Conditions
- (a) The Constituent agrees to abide by the AASMAA's Terms and Conditions and rules in force and
changes in Terms and Conditions from time to time relating to their account.
- (b) The Constituent agrees that the AASMAA will be at liberty to close their account any time
without assigning any reason whatsoever.
- (c) The Constituent agrees that the AASMAA can, at its sole discretion, withdraw any of the services/facilities
given in their account either wholly or partially at any time without giving them any notice.
- (d) The Constituent agrees that any change in their account status or change of address will
be immediately informed to the AASMAA.
- (e) The Constituent agrees that all instructions relating to their account will be issued in
writing satisfactory to the AASMAA in form and content.
- (f) The Constituent agrees that they shall not pay any amount in cash to any Sales Representative
of the AASMAA at the time of opening an account or carrying out any transaction in the normal course
of the business.
- (g) The Constituent agrees to accept the format provided by the AASMAA in order to execute their
fax instructions to the AASMAA.
- (h) The Constituent agrees that the AASMAA will send them communications/letters etc. through
courier / messenger/mail or through any other mode at its discretion and the AASMAA shall not be liable
for any loss or delay arising there from.
- (i) The Constituent agrees that the Pass Words will be dispatched by courier (or any other mode
at the AASMAA'® discretion) at their risk and consequence.
- (j) The Constituent shall not hold the AASMAA liable in any manner what so ever in respect of
such dispatch of these items.
- (k) An account may be opened on behalf of a minor by his/her natural guardian or by a guardian
appointed by a court of Competent Jurisdiction. The guardian shall represent the minor in all transactions
of any description in the above account until the said minor attains majority. Upon the minor attaining
majority, the right of the guardian to operate the account shall cease. The guardian agrees to indemnify
the AASMAA against the claim of above minor for any withdrawal/transactions made by him in the minor's
- (l) The Constituent agrees and undertakes to ensure that there would be sufficient funds/cleared
balance/prearranged credit facilities in their account for effecting transactions. The Constituent agrees
that the AASMAA shall not be liable for any consequences arising out of non-compliance by the AASMAA
of my instructions due to inadequacy of funds and the AASMAA can at its sole discretion decide to carry
out the instructions notwithstanding the inadequacy of funds. Their AASMAA may do the aforesaid without
prior approval from or notice to them and they shall be liable to repay with interest the resulting
advance, overdraft or credit thereby created and all related charges arising thereby @ 24% compounded
- (m) The Constituent agrees that the AASMAA shall not be liable for any damagees, losses (direct
or indirect) whatsoever, due to disruption or non availability of any of services/facility/s due to
technical fault/error or any failure in telecommunication network or any error in any software or hardware
- (n) The Constituent agrees that the AASMAA may disclose customer information, in strict confidence,
to any of its agent/s and/or contractors with whom the AASMAA enters or has entered into any arrangement
in connection with providing of services.
VII. xviii Accounts
The Constituent agrees to repay to the AASMAA on demand, unconditionally, the amounts of overdrafts
or excesses against margin deposit that the AASMAA may grant it/he/her from time to time, together with
interest accrued thereon. The Constituent agrees that this does not imply that the AASMAA is bound to
grant them any credit facility whatsoever.
VIII. ELECTRONIC PAYMENT GATEWAY
VIII. i Definitions and Interpretations
"Electronic Payment Gateway for Net banking Terms and Conditions" shall mean the terms and conditions
as modified from time to time applicable to Electronic Payment Gateway for Net banking offered through
the AASMAA in the HDFC or other bank a/c and accepted by the customer. "Confidential Information" refers
to information obtained by the customer, through the AASMAA, for the effective availability of Services
or Payment Instruction Services" Electronic Payment Gateway for Net banking services."Payment Instruction"
shall mean an instruction given by a Customer to transfer funds from the Account held by the Customer
to the account of AASMAA.
VIII. ii Internet
Internet refers to the network of computers / mobile phones / other electronic devices which share and
exchange information. The Internet is at once a worldwide broadcasting capability, mechanism for information
dissemination, and a medium for collaboration and interaction between individuals and their computers
/ mobile phones / other electronic devices capable of accessing the Internet without regard for geographic
VIII. iii Electronic Payment Gateway for Net banking Services
Electronic Payment Gateway for Net banking Services is the AASMAA's Service which provides access to
account information, the Internet with the help of concerned bank. The terms Electronic Payment Gateway
for Net banking and Electronic Payment Gateway for Net banking services/facility may be interchangeably
VIII. iv Customer
Customer refers to any person who has a AASMAA Account and who has been authorized by the AASMAA to
avail of the said facility.
VIII. v Account
Account refers to the Customer's Savings and/or Current Account to which access is to be obtained through
Electronic Payment Gateway for Net banking.
VIII. vi Personal Information
Personal Information refers to the information about the Customer obtained in connection with Electronic
Payment Gateway for Net banking or otherwise.
Application for Electronic Payment Gateway for Net banking The AASMAA may offer Electronic Payment Gateway
for net banking to select Customers at its discretion in collaboration with the concerned bank. The
Constituent agrees that in order to be eligible for Electronic Payment Gateway for Net banking it/he/she
would need to be a current Internet user or have access to the Internet and knowledge of how the Internet
works and have Net Banking facility with its/his/her bank. The Constituent accepts that the application
for Electronic Payment Gateway for Net banking does not automatically imply acceptance by the AASMAA.
VIII. viii Software
The AASMAA or the concerned bank will advise from time to time the Internet software such as Browsers,
which are required for using Electronic Payment Gateway for Net banking. There will be no obligation
on the AASMAA to support all the versions of this Internet software. The Constituent agrees that the
Constituent shall be responsible for upgrading their software, hardware and the operating system at
their cost from time to time so as to be compatible with that of the AASMAA. The AASMAA or the bank
shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc., from
time to time and shall be under no obligation to support the software, hardware, operating systems used
by the Constituent and that the same shall be their sole responsibility.
VIII. ix Electronic Payment Gateway for Net banking Service
- (a) The AASMAA shall endeavor to provide through Electronic Payment Gateway for Net banking,
such services as the AASMAA may decide from time to time. The AASMAA reserves the right to decide the
type of services which may be offered on each account and may differ from customer to customer. These
facilities shall be offered in a phased manner at the discretion of the AASMAA. The AASMAA may also
make additions/deletions to the services offered through Electronic Payment Gateway for Net banking
at its sole discretion. The availability / non availability of a particular service shall be advised
through e-mail or web page of the AASMAA or written communication.
- (b) In case of Joint accounts and accounts with two or more signatories, the AASMAA will offer
such services as restricted by the terms and conditions governing the operation of such accounts.
- (c) In case of Minor accounts, the natural guardian undertakes to give all instructions relating
to the operation of the account and further undertakes not to reveal the Customer ID and Password to
- (d) The AASMAA shall take reasonable care to ensure the security of and prevent unauthorized
access to the Electronic Payment Gateway for Net banking service using technology reasonably available
to the AASMAA.
- (e) The Constituent agrees that it/he/her shall not use or permit to use Electronic Payment Gateway
for Net banking or any related service for any illegal or improper purposes.
VIII. x Electronic Payment Gateway for Net banking Access
- (a) The Constituent understands that the AASMAA would allot them a Customer-ID and password for
their account, which will enable them to have excess to Electronic Payment Gateway for Net banking to
perform Net banking for bank account. The Constituent will be required to change the password assigned
by the AASMAA on accessing Electronic Payment Gateway for Net banking for the first time. As a safety
measure the Constituent changes the password as frequently thereafter as possible. In the absence of
any specific request from them for personally collecting the Password, the Password shall be sent to
the Constituent by courier at its/his/her risk and consequences to the address notified by them for
correspondence, and the AASMAA shall be not liable or held responsible in any manner whatsoever, if
the Password falls in the hands of unauthorized person/s.
- (b) In addition to Customer-ID and Password the AASMAA may, at its discretion, require the Constituent
to adopt such other means of authentication including but not limited to digital certification and /
or smart cards. The Constituent agrees that it/he/she shall not attempt or permit others to attempt
accessing the account information stored in the computers of the AASMAA through any means other than
the Electronic Payment Gateway for Net banking service. The Constituent is aware that the transaction
through Electronic Payment Gateway for Net banking can be effected by use of their password for their
AASMAA account and passwords for Net Banking for the operation of their bank account for Net Banking.
The Constituent shall not request/demand any evidence of proof for transactions undertaken through the
Net and the audit trail of the log-in would be conclusive proof to establish that the transactions are
VIII. xi Password
The Constituent understands and agrees that it/he/she must:
- (a) Keep the password totally confidential and not reveal the password to any third party
- (b) Choose a password that shall consist of a mix of alphabets, numbers and special characters,
which must not relate to any readily accessible personal data such as it/his/her name, address, telephone
number, driver license etc. or easily guessable combination of letters and number
- (c) Commit the password to memory and not record them in a written or electronic form, and
- (d) Not let any unauthorized person have access to their computer or leave the computer unattended
while accessing Electronic Payment Gateway for Net banking.
- (e) In case the Constituent forgets the password for their account in the AASMAA, it/he/she can
request for change of the password. Such replacement shall not be construed/deemed as the commencement
of a new contract.
VIII. xii Transaction Processing
All the requests for instantaneous transactions will be given effect instantaneously. In case requests
for effecting any transactions are received on weekly offs/holiday/public holidays, with AASMAA/NSE,
BSE and MSEI & bank, they shall be effected on the immediately succeeding working day on the terms and
conditions prevailing on that day. The Constituent shall not hold the AASMAA or the bank responsible
for not processing/effecting any transactions in case the AASMAA does not receive instruction to this
effect even though they have forwarded the same. The Constituent hereby agrees to abide by the following
terms and conditions in addition to the terms and conditions as applicable to Electronic Payment Gateway
for Net banking:
- (a) The Constituent shall be free to utilize the Payment Instruction Services through Electronic
Payment Gateway for Net banking for transfer of funds for such purpose, as they shall deem fit
- (b) The Constituent however agrees not to use or permit the use of the Payment Instruction Services
or any related services for any illegal or improper purposes. Whilst utilizing the Payment Instruction
Services for making any payments for any services obtained whether on-line or otherwise, they shall
- (c) The Constituent has the full right and/or authority to access and avail of the services obtained
and they shall observe and comply with the applicable laws and regulations in each jurisdiction in applicable
territories. They shall not access to family/relatives/friends or any other person's account through
this gateway facility for transfer of funds and if done so then the Constituent shall be solely responsible
for the said transfer of funds. And further undertake if any such claim is made by the third party so
effected then they shall be solely responsible and not AASMAA in any manner.
- (d) The Constituent shall not involve the AASMAA as a party to such transaction.
- (e) The Constituent shall provide the AASMAA with such information and/or assistance as is required
by the AASMAA for the performance of the Services and/or any other obligations of the AASMAA under this
- (f) The Constituent shall not at any time provide to any person, with any details of the accounts
held by me/us with the AASMAA including, the passwords, account number which may be assigned to me/us
by the AASMAA from time to time.
VIII. xiii Risks
The Constituent hereby acknowledges that it/he/she is availing the Payment Instruction Service at it/his/her
own risk. These risks would include but not be limited to the following risks:
- (a) Misuse of Password: The Constituent acknowledges that if any third person obtains access
to their password of the Customer, such third person would be able to provide Payment Instructions to
the AASMAA. They shall ensure that the terms and conditions applicable to the use of the password as
contained in the Electronic Payment Gateway for Net Banking Terms and Conditions are complied with at
- (b) Internet Frauds: The Internet per se is susceptible to a number of frauds, misuse, hacking
and other actions, which could affect Payment Instructions to the AASMAA. Whilst the AASMAA shall aim
to provide Equity, Stock F&O and Currency to prevent the same, there cannot be any guarantee from such
Internet frauds, hacking and other actions, which could affect Payment Instructions to the AASMAA. The
Constituent shall separately evolve/ evaluate all risks arising out of the same.
- (c) Mistakes and Errors: The filling in of applicable data for transfer would require proper,
accurate and complete details. For instance, the Constituent is aware that they would be required to
fill in the account number of the AASMAA to whom the funds are to be transferred. In the event of any
inaccuracy in this regard, the funds could be transferred to incorrect accounts and there is no guarantee
of recovery thereafter. The Constituent shall therefore take all care to ensure that there are no mistakes
and errors and that the information given by me/us to the AASMAA in this regard is error free, accurate,
proper and complete at all points of time. On the other hand in the event of my Account receiving an
incorrect credit by reason of a mistake committed by some other person, the AASMAA or the bank shall
be entitled to reverse the incorrect credit at any time whatsoever without the consent of the Customer
I/We shall be liable and responsible to AASMAA and accede to accept the AASMAA's instructions without
questions for any unfair or unjust gain obtained by me as a result of the same.
- (d) Transactions: The transactions, which the Constituent may require, the transfer of the funds
may not fructify The AASMAA is merely providing it/him/her services whereby the said funds would be
transferred from their instructions.
- (e) Technology Risks: The technology for enabling the transfer of funds and the other services
offered by the AASMAA could be affected by virus or other malicious, destructive or corrupting code,
program or macro. It may also be possible that the site of the AASMAA or the bank may require maintenance
and during such time it may not be possible to process the request of the Customers. This could result
in delays in the processing of instructions or failure in the processing of instructions and other such
failures and inability. The Constituent understands that the AASMAA disclaims all and any liability,
whether direct or indirect, whether arising out of loss Of profit or otherwise arising out of any failure
or inability by the AASMAA to honour any customer instruction for whatsoever reason. The Constituent
understands and accepts that the AASMAA shall not be responsible for any of the aforesaid risks. The
Constituent also accepts that the AASMAA shall disclaim all liability in respect of the said risks.
- (f) Limits: The Constituent is aware that the AASMAA may from time to time impose maximum and
minimum limits on funds that may be transferred by virtue of the payment transfer service given to it/him/her
hereunder. The Constituent realizes and accepts and agrees that the same is to reduce the risks on it/him/her.
For instance, the AASMAA may impose transaction restrictions within particular periods or amount restrictions
within a particular period or even each transaction limits. The Constituent shall be bound by such limits
imposed and shall strictly comply with them.
- (g) Indemnity: The Constituent shall indemnify the AASMAA from and against all losses and damages
that may be caused as a consequence of breach of any of the Electronic Payment Gateway for Net banking
Terms and Conditions and the terms and conditions mentioned herein above.
- (h) Withdrawal of Facility: The AASMAA shall be entitled to withdraw this service at any time
- (i) Charges: The Constituent hereby agrees to bear the charges as may be stipulated by the AASMAA
from time to time for availing of these services.
- (j) Binding nature of above terms and conditions: The Constituent agrees that by use of this
facility, the Constituent shall deemed to have agreed to all the above terms and conditions and such
terms and conditions shall be bound on it/him/her in the same manner as if it/he/she has agreed to the
same in writing.
IX. AUTHORITY TO THE AASMAA
- (a) Electronic Payment Gateway for Net banking transactions in the Customer's Account(s) are
permitted only after authentication of the Customer-ID and Password. The Constituent agrees that they
grant express authority to the AASMAA or the bank for carrying out transactions performed by them through
Electronic Payment Gateway for Net banking. The AASMAA shall have no obligation to verify the authenticity
of any transaction received from the Constituent through Electronic Payment Gateway for Net banking
or purporting to have been sent by them via Electronic Payment Gateway for Net banking other than by
means of verification of their Customer-ID and the password.
- (b) The display or printed output that is produced by the Constituent at the time of operation
of Electronic Payment Gateway for Net banking is a record of the operation of the internet access and
shall not be construed as the AASMAA's record of the relative transactions. The AASMAA's or bank own
record of transactions maintained through computer systems or otherwise shall be accepted as conclusive
and binding for all purposes unless any discrepancy is pointed out within one week from the date of
access or from the date of sending the periodical statement, whichever is earlier.
- (c) All transactions arising from the use of Electronic Payment Gateway for Net banking, to operate
a joint account, shall be binding on all the joint account holders, jointly and severally.
X. ACCURACY OF INFORMATION
The Constituent agrees that it/he/she are responsible for the correctness of information supplied to
the AASMAA through the use of Electronic Payment Gateway for Net banking or through any other means
such as electronic mail or written communication. The AASMAA accepts no liability for the consequences
arising out of erroneous information supplied by them. The Constituent agrees that if it/he/she notice
any error in the account information supplied to it/him/her through Electronic Payment Gateway for Net
banking or by the use of any of the Electronic Payment Gateway for Net banking services, the Constituent
shall advise the AASMAA & bank as soon as possible. The AASMAA will endeavor to correct the error promptly.
The Constituent complies with the Terms and advise the AASMAA and the bank in writing under acknowledgment
immediately after it/he/she suspect that their Customer-ID or password is known to another person and/or
notice an unauthorized transaction in their Electronic Payment Gateway for Net banking account. The
Constituent agrees that it/he/she shall be liable for some or all loss from unauthorized transactions
in the Electronic Payment Gateway for Net banking accounts if it/he/she has breached the Terms or contributed
or caused the loss by negligent actions such as the following:
- (a) Keeping a written or electronic record of Electronic Payment Gateway for Net banking password.
- (b) Disclosing or failing to take all reasonable steps to prevent disclosure of the Electronic
Payment Gateway for Net banking password to anyone including AASMAA staff and/or failing to advise the
AASMAA of such disclosure within reasonable time
- (c) Not advising the AASMAA and the bank in a reasonable time about unauthorized access to or
erroneous transactions in the Electronic Payment Gateway for Net banking accounts. The AASMAA shall
in no circumstances be held liable to the Customer if Electronic Payment Gateway for Net banking access
is not available in the desired manner for reasons including but not limited to natural calamity, floods,
fire and other natural disasters, legal restraints, faults in the telecommunication network or Internet
or network failure, software or hardware error or any other reason beyond the control of the AASMAA.
The AASMAA shall under no circumstances shall be liable for any damages whatsoever whether such damages
are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss
of revenue, investment, production, goodwill, profit, interruption of business or any other loss of
any character or nature whatsoever and whether sustained by the Constituent.
XII. DISCLOSURE OF PERSONAL INFORMATION
The Constituent agrees that the AASMAA or its contractors may hold and process the Constituent's Personal
Information on computer or otherwise in connection with Electronic Payment Gateway for Net banking services
as well as for statistical analysis and credit scoring. The Constituent also agrees that the AASMAA
may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably
necessary for reasons inclusive of, but not limited to, the following
For participation in any telecommunication or electronic clearing network in compliance with a legal
For credit rating by recognized credit scoring agencies.
- (c) For fraud prevention purposes.
XIII. AASMAA'S LIEN
The AASMAA shall have the right of set-off and lien, irrespective of any other lien or charge, present
as well as future on the deposits held in the Constituent accounts and stocks whether in single name
or joint name(s), group account to the extent of all outstanding dues, whatsoever, arising as a result
of the Electronic Payment Gateway for Net banking service extended to and/or used by them.
The grant of facility of Electronic Payment Gateway for Net banking to them is not transferable under
any circumstance and shall be used only by the Constituent.
XV. TERMINATION OF ELECTRONIC PAYMENT GATEWAY FOR NETBANKING SERVICE
- (a) The Constituent may request for termination of the Electronic Payment Gateway for Net banking
facility any time by giving a written notice of at least 15 days to the AASMAA. The Constituent agrees
that they will remain responsible for any transactions made on their Electronic Payment Gateway for
Net banking account(s) through Electronic Payment Gateway for Net banking prior to the time of such
cancellation of the Electronic Payment Gateway for Net banking Service.
- (b) The closure of all their Accounts will automatically terminate the Electronic Payment Gateway
for Net banking service.
- (c) The AASMAA may suspend or terminate Electronic Payment Gateway for Net banking facilities
without prior notice if these terms and conditions are breached or even otherwise without assigning
The AASMAA and the Constituent may give notices under these Terms and Conditions:
- (a) Electronically to the mailbox of either party. Such notices will be regarded as being in
writing. In writing by delivering them by hand or by sending them by post to the last address given
by them and in the case of the AASMAA to the following address: 8-2- 293/82/A,707, 708, 709, #211, Fortune
Monarch,Road No. 36, Jubilee Hills,Hyderabad - 500 033,Telangana, India.
- (b) In addition, the AASMAA may also publish notices of general nature, which are applicable
to all Customers of Electronic Payment Gateway for Net banking on its web site. Such notices will have
the same effect as a notice served individually to the Constituent.
XVII. GOVERNING LAW
These terms and conditions and/or the operations in the accounts of the Customer maintained by the AASMAA
and/or the use of the services provided through Electronic Payment Gateway for Net banking shall be
governed by the laws of the Republic of India and no other nation. The Customer and the AASMAA agree
to submit to the exclusive Jurisdiction of the Courts located in Hyderabad, India as regards any claims
or matters arising under these terms and conditions. AASMAA accepts no liability whatsoever, direct
or indirect, for non-compliance with the laws of any country other than the Republic of India. The mere
fact that the Electronic Payment Gateway for Net banking Service can be accessed through Internet by
a Customer in a country other than India shall not be interpreted to imply that the laws of the said
country govern these terms and conditions and/or the operations in the Electronic Payment Gateway for
Net banking accounts of the Customer and/or the use of Electronic Payment Gateway for Net banking.
The clause headings in this agreement are only for convenience and do not affect the meaning of the
relative clause. The Constituent shall not assign this agreement to anybody else. AASMAA may subcontract
and employ agents to carry out any of its obligations under this contract. I do hereby solemnly affirm
and declare as under:
- 1. That the above-mentioned authorized person/members of my family are regularly trading/investing
through you on NSE, BSE and MSEI and/or any Equity, Stock F&O and Currency exchange(s). For all purposes
of operations of my account with you, the above accounts shall be termed as Group Account.
- 2. That I hereby authorize you to sell Equity, Stock F&O and Currency standing in my account
and to transfer the proceeds of the sale of such Equity, Stock F&O and Currency to the abovementioned
accounts to set off all outstanding debit amounts in their respective accounts.
- 3. That I hereby authorize you to set off all outstanding debit amounts in the above mentioned
accounts maintained by you in any segment of any Equity, Stock F&O and Currency exchange(s), against
the amount standing to the credit of Constituent's/Family/Group account maintained by you in respect
of any segment of any Equity, Stock F&O and Currency exchange(s).
- 4. That I have given the above authority to AASMAA with my free consent and without any pressure,
threat or coercion from any corner whatsoever.
- 5. That in future I shall not make any claim from AASMAA in any manner whatsoever of any amount
adjusted from the credit in my account to set off the outstanding debit amounts in the above-mentioned
accounts and I further state that if anybody on my behalf claims the above said adjusted amount, the
said act shall be null and void and shall be ineffective from all corners.
- 6. That this is my true irrevocable statement and shall remain binding on me.
- 7. That I hereby undertake to intimate you from time to time of any additions of the Constituents
to the said Group Account for the purpose of either allowing them to trade on my behalf or for the purpose
adjustment of balance interest.