Disclaimer

Kotak Securities Limited: CIN: U99999MH1994PLC134051, SEBI Registration No. INZ000200137 (Member of NSE, BSE, MSE, MCX & NCDEX), AMFI-registered Mutual Fund Distributor. AMFI ARN: 0164, Date of Registration: July 07, 2002, Current validity of AMFI ARN - July 23, 2027, PMS INP000000258 and Research Analyst INH000000586. NSDL/CDSL: IN-DP-629-2021.

Compliance Officer Details: Mr. Hiren Thakkar. Call: 022 - 4285 8484, or Email: ks.compliance@kotak.com.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Please read the SEBI prescribed Combined Risk Disclosure Document prior to investing. Brokerage will not exceed SEBI prescribed limit.

Kotak Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Research reports, Insurance, PMS, Smallcase, Global Investing, any other Third Party Products/Services etc. These are not Exchange traded product and we are just acting as distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbritation mechanism. Kindly also refer to the detailed disclaimer for Third Party Products. Kotak Securities Limited (KSL) does not provide any Portfolio Management Services nor is an Investment Adviser.

Account opening - The account would be opened after all the procedures relating to IPV and client due diligence is completed.

Investors may contact us on ks.ccd@kotak.com, Helpline Number: 18002099595 (Timings: 9 am to 6 pm - Available on all trading days) for Cyber Security related concerns.

In absence of a response/complaint not addressed to your satisfaction, you may lodge a complaint with:

• SEBI at https://scores.sebi.gov.in
• SMARTODR Dispute Website: https://smartodr.in

*Please quote your Service Ticket/Complaint Ref No. while raising your complaint at SEBI SCORES portal

In case of redressal of complaint, you should first approach KSL. SEBI also facilitates you to lodge your complaint online with SCORES. For filing complaints with SEBI, Register on SCORES portal and provide mandatory details like Name, PAN, Address, Mobile Number, Email ID. The said process is easy & quick with effective communication and speedy redressal of the grievances. For further information refer FAQ’s here

For online dispute resolution platform- Smart ODR

Product Disclaimers

• Equity: Investments in securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI prescribed Combined Risk Disclosure Document prior to investing.

• Futures and Options (derivatives): Derivatives are a sophisticated investment device. The investor is requested to take into consideration all the risk factors before actually trading in derivative contracts.

  Risk Disclosure on Derivatives
  
  As per a SEBI study dated 25 Jan 2023

1. 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
2. On an average, loss makers registered net trading loss close to ₹ 50,000.
3. Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
4. Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

• Mutual Funds: Mutual Fund Investments are subject to market risks, please read the offer document carefully prior to investing. Kotak Securities Limited is an AMFI-registered Mutual Fund Distributor. Kotak Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds and Mutual Funds SIP, any other Third Party Products/Services etc. These are not Exchange traded products and we are just acting as a distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Kindly note that investments in Mutual Funds are made on the basis of the POA executed at the time of registration.

• IPO: Kotak Securities Limited is a distributor of IPO.

• Bonds / debentures: Kotak Securities Limited is a distributor of Bonds and Debentures.

• PMS: Investments in securities are subject to market risk and there is no assurance or guarantee of the objectives of the Portfolio strategies being achieved. Kotak Securities Limited (KSL) does not provide any Portfolio Management Services nor is an Investment Adviser.

• Trinity Accounts (sourced through KS): The Bank account will be opened with Kotak Mahindra Bank Limited and Trading and Demat account with Kotak Securities Limited.

• Trinity Accounts (sourced through KMBL): The Bank and Demat account will be opened with Kotak Mahindra Bank Limited and Trading account with Kotak Securities Limited.

• NRI related services: This service does not constitute an offer to sell or a solicitation of an offer to buy any shares, securities or other instruments to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. This service is not intended to be any form of an investment advertisement, investment advice or investment information and has not been registered under any securities law of any foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be lawful to offer such a service.

• DND / TRAI related: Please note that by submitting details you are authorizing Kotak Securities (or its authorized/group entities) to send you any communications through any modes, including but limited to in the form of messages, voice calls, through any digital means/channels including WhatsApp, Telegram, Instagram, Messenger, any over-the-top communication services etc. even if you are registered under DND (Do not Disturb). Please also note that communications with KSL representatives may be recorded for internal quality and training purposes.

• Insurance: Kotak Securities is a corporate agent of Kotak Mahindra Life Insurance Company Ltd. and Zurich Kotak General Insurance Company (India) Limited having composite license (Corporate Agent Registration No. CA0268).

• GTC: Good till cancel (GTC) is a product offered by Kotak Securities Limited. Any complaints or disputes pertaining to the same shall not be entertained by Exchanges.

• Auto Invest: Auto Invest is a product offered by Kotak Securities Limited. Any complaints or disputes pertaining to the same shall not be entertained by Exchanges. Refer terms & conditions.

• Basket Order: Basket Order is a product offered by Kotak Securities Limited. Any complaints or disputes pertaining to the same shall not be entertained by Exchanges.

• Screeners: Screeners are not exchange approved products and any disputes relating to this will not have access to exchange investor redressal forum or arbitration mechanism.

• Super Multiple: All Super Multiple orders are "auto-square off" orders with a Stop Loss Price which you can define. It is mandatory to specify a Stop loss trigger price while placing order in this product. If you do not square off this order, or the stop loss price is not achieved by 3.10 pm, the auto square off process for your position(s) will start from 3.10 P.M. In Super Multiple it is mandatory to place a stop loss order where the trigger price cannot be lower than 1% of the LTP (BUY order) or 1% higher then Sell price of the LTP (SELL order). The product is applicable to specific list of scrips which is published by Kotak Securities here. You have the choice to place order in this product any trading day before 3.10 pm, at your discretion. Super Multiple order can help to increase leverage which may result into higher or lower profits/losses on account of higher exposure. Refer terms & conditions.

• Super Multiple Option: All Super Multiple Option orders are "auto-square off" orders with a Stop Loss Price which you can define. It is mandatory to specify a Stop loss trigger price while placing order in this product. If you do not square off this order, or the stop loss price is not achieved by 3.10 pm, the auto square off process for your position(s) will start from 3.10 P.M. The product is applicable to specific list of option contracts in Nifty & Bank Nifty which may change during the day depending on the market movement. You have the choice to place order in this product any trading day before 3.10 pm, at your discretion. Super Multiple option order can help to increase leverage which may result into higher or lower profits/losses on account of higher exposure. Refer terms & conditions.

• Margin Trading Facility (MTF) : The terms and conditions prescribed hereunder form part of account opening form, shall be read in conjunction with the rights and obligations as prescribed under SEBI circular no. CIR/ MIRSD/ 16/ 2011 dated August 22, 2011 and the Rules, Regulations, Bye laws, Rights and Obligation, Guidelines, circulars issued by SEBI and Exchanges from time to time. Refer terms & conditions. All the offers related to MTF are subject to provisions under SEBI circular CIR/MRD/DP/54/2017 dated June 13, 2017.

• Bracket Order : Trailing Stoploss orders or Bracket orders which are intended to limit losses or book profits may not be sent to the Exchange due to a possibility of slow or delayed or incomplete/missing tick by tick price or any other such system/network requirement which is beyond our control. This may result in delay in processing or not processing buy or sell orders. In such cases KSL shall not be held responsible to compensate the client against the resultant loss (actual/notional).

• Call and Trade : Investments in securities market are subject to market risks, read all the related documents carefully before investing. Available only to registered clients

In case any specific security/securities are displayed in the advertisement as examples, “The securities are quoted as an example and not as a recommendation”

In case of talking about past performance of any scrip or product or strategy, “Past performance does not indicate the future performance.”

Referral Program

Referrer - A person (an existing client) who refers a new client (Referee).

Referee - A person whose reference is given by Referrer.

Referral Reward - Rewards earned by the Referrer when the Referee successfully opens the trading and de-mat account.

Referrer Ledger - Ledger maintained for the purpose of crediting Referral amount

Benefits for Referrer:

The eligible Referrer shall be eligible to earn Referral Rewards on completion of various stages as follows:

1. The Referrer will receive a “One-Time Referral Reward” upon each successful Referee account opened in a month, subject to a “Maximum capping per month”.

The “One-Time Referral Reward”, “Maximum capping per month”, (upto 4 Referral rewards per month) will be as per the Referrer’s eligibility and will be accessible inside the Refer and Earn Section of the App and Web post Referrer’s login.(For detailed explanation of the Referrer's earnings read Point 3, 4, 5 and 6 below)

Terms & Conditions about Redemption:

1. The Referrer shall be eligible for Referral point if,

• Referrer is Resident Individual or HUF
• The trading account of the Referrer is active
• The product is active / not withdrawn as per the withdrawal clause
• The trading account of Referee is opened within 30 calendar days from the date of acceptance by Referee

2. The Referrer shall not be eligible to redeem Referral points if,

• The Referee fails to use the referral code/referral link of the referrer at the time of account opening;
• The Referee had submitted their phone number to KSL via other channels in the last 30 Days from the date of acceptance of referral.
• If the Referee had an account with KSL and was closed. Such accounts which are reopened under this program will not be considered as successful referrals.

3. All the rewards earned through the Refer & Earn Program has to be redeemed by you/Referrer within 60 days from the date of issuance of the reward. Failure to do so will result in forfeiture of rewards. The rewards will expire following first-in-first-out principle.

Terms and Conditions of Referrer in the Referral Program:

I / Referrer hereby declare/s, agree/s, understand/s, acknowledge/s and confirm/s that,

1. The participation in the product shall be deemed as my acceptance to the terms and conditions set out herein. The Offer is valid for accounts opened from 1st November, 2024 onwards and shall be valid till the same is withdrawn by KSL.
2. The Referrer shall receive a “One-Time Referral Reward” credited for each successful account opening by the Referee, i.e. the opening of a de-mat and trading account after complete documentation and application verification in accordance with SEBI/Exchange regulations and the internal policies and procedures of KSL. This one-time credit of reward will be reflected post login into the Referrer’s Kotak Neo account under Referral Earning Dashboard.
3. The rewards for such Referrals will be credited as Referral Points to the Referrer's ledger on (T+3) basis, meaning T + 3 working days:

a. Say for instance, the Referrer had a successful account opened on 1st of the month (which was a Monday); in this case the ”One-Time Referral Reward” shall be credited and will be reflected on Referrer’s Account on the Kotak Neo App on 4th of the month (Thursday).

b. Weekly and market holidays are excluded from (T+3) days.

c. In case, the Referrer already does successful Referrals as per their eligible “Maximum capping per month” (upto 4 Referral rewards per month) in a month, then the Referrer may continue referring but will not get the one-time incentive of the Referral Rewards on further successful Referrals during that month.

For e.g., The Referrer is eligible for maximum 4 referrals per month, then the Referrer will receive the one-time Referral reward only for the first 4 accounts opened and will not receive the reward for the accounts opened beyond 4.

d. Referral scheme eligibility will be as on the date of Referee’s acceptance of the invitation (submission of name and phone number using the Referrer’s unique referral link).

4. If Referee has been referred by two Referrers, then the person who has referred 1st will be considered.
5. The Referrer shall not be eligible to earn any Referral Points if the Referee fails to mention referral code at required places or start account opening journey using referrer’s link.
6. In the event of the details of the Referee already exists in the database of KSL as an existing client or prospective client, then it will not be considered under this scheme/product for the Referral Point and KSL reserves the right to exclude such accounts for calculation of any Referral Point.
7. KSL's decision on the computation of Referral Points, redemption of Referral points and validity of Referral Points shall be final, conclusive and binding on me. All the computations will be after netting off any incentives, freebies etc. of the Referee. Further, I shall not recover any type of incentive / commission / fees from the referred client/s and there should be no financial transaction between me and the referred client/s.
8. I will have no access to any accounts of Referee including trade book, brokerage details of the Referee, books of KSL etc. The Referral Points credited by KSL to Referral Ledger shall be final, binding on me and shall not be challenged.
9. At the time of closure of trading account by Referrer, adjustments of Referral Points will be made against the outstanding, if any irrespective of ways of transfer, in my trading account with KSL before releasing the final fund payout and balance redeemed amount if any will be automatically forfeited.
10. Referral Points lying in Referral Ledger / Points redeemed for brokerage netting off shall not be considered towards the margin for my trading account with KSL.
11. I shall not claim any expenditure incurred by me while referring clients to KSL.
12. KSL has absolute rights to modify / revise/ amend /alter the percentage, redemption rates, categories of client or any terms and conditions of this product at its sole discretion, which amendment shall be effective without KSL giving any advance notice to me at my registered email id or my registered mobile number or by displaying the same on KSL's website.
13. KSL shall have exclusive power to close / withdraw this product without giving any prior notice to me at my registered email id or my registered mobile number or through social media platform / SMS or my last communication address registered with KSL, without assigning any reason.
14. In the event, the product is voluntarily closed / withdrawn by KSL, the Referral Points accumulated till the date of such closure / withdrawal will be transferred to equity ledger. In the event of cancellation of the product being regulatory or for any other non-avoidable reason, all the future Referral Points shall stand forfeited forthwith.
15. Post closure / withdrawal by KSL or closure of trading account by me or upon death, KSL shall retain all the clients referred by me and those clients shall continue to remain the clients of KSL or continue to do transactions through KSL and all Referral Points shall be forfeited. Further upon my death, my legal heirs / successor / administrator, shall not be eligible to claim for Referral Points.
16. The acts, actions taken by KSL are in good faith in response to any oral or electronic instruction or enquiry by me in respect of any matter in relation to this product and fulfilment of any benefits thereon. I shall not be entitled to claim or allege any loss, damage, liability, expense etc. attributable directly or indirectly, to any such good faith action of KSL.
17. I shall not be eligible for any interest on the accumulated Referral/redeemed Points.
18. The redemption amount shall be subjected to deduction of all applicable taxes/charges, if any.
19. I indemnify and hold harmless KSL, its Affiliates, group companies/ associates and their respective directors and employees from and against any damage, loss, cost or liability (including all expenses and costs of enforcing rights under this terms and conditions) arising out of or resulting from (i) any use or disclosure (ii) any leakage of the Confidential Information and (iii) breach or violation of any of the covenants or terms of this product.
20. All or any disputes arising out of or in connection with this Product, shall be Referred to arbitration under the provisions of the Arbitration and Conciliation Act, 1996 or as may be amended from time to time. The arbitration proceedings shall be presided by a sole arbitrator appointed by KSL. The venue of arbitration shall be at Mumbai and language of the Arbitration shall be English. The Court in Mumbai shall alone shall have exclusive jurisdiction over any dispute.
21. This product cannot be clubbed with any other offer /promotional product offered by KSL.
22. Under no circumstances, I will print any visiting cards, pamphlets, brochures, rubber stamps, stationery items or any material using the name and logo of KSL or conveying any direct or indirect association with KSL.
23. KSL shall not be held liable/responsible for any actions, claims, demands, losses, damages, costs, charges and expenses, which I may suffer, sustain or incur by participating in this product. Once Referral Rewards are redeemed as per my choice to transfer in Equity, I have no option to change my choice later.
24. My relationship with KSL shall be on a principal to principal basis and nothing contained in this document shall be construed to create any relationship of agency, partnership, joint venture and/or employment. KSL at its sole discretion shall have the absolute right to accept or reject the clients being referred without assigning any reason to me. The decision of KSL in this regard shall be final, binding on me and not questionable.
25. Under no circumstances, I will represent as an agent of KSL to those clients who are interested in accessing the secondary market through KSL and induce or lure and / or undertake any form of selling and / or advisory in secondary markets with respect to securities and should not manage the portfolio of any person who is being referred and / or place orders in the securities market. It is clearly understood that my role is very limited to the extent of referring clients to KSL to get them registered as clients of KSL and that I shall not offer any facility for the said clients for trading in secondary markets through KSL. Further, I shall be liable for all consequences that arise as a result of any activity carried out by me outside my role defined herein as a Referrer.
26. I shall not represent or act on behalf of KSL and induce or advise the Referee for placing orders in the Securities Market.
27. I shall not issue any contract notes, daily margin statements, statement of accounts, annual global transaction statements etc. to the referred clients directly in violation of the terms and conditions of this agreement.
28. I shall not carry out IPV (In Person Verification) and OSV (Original Seen and Verified) of the clients referred by me.
29. Referrer agreeing to the terms and conditions is prohibited to engage into any fraudulent account opening. Referrer agrees that, KSL reserves the right to withhold any such credit of Referral Rewards or incentives without any notice to any such Referrer who is involved in fraudulent account opening/ or unusually low activities in opened accounts of Referees
30. In order to curb fraudulent referring/account opening, KSL reserves the right to introduce upper limits on daily credit and change the existing limits of monthly credit of the Referral Rewards without giving any prior notice.
31. The referrer hereby declares, agrees, undertakes and confirms that referrer does not provide any advice nor any recommendation, directly or indirectly, in respect of or related to a security or securities, unless such referrer is registered with or otherwise permitted by the SEBI to provide such advice or recommendation.
32. The referrer further declares, agrees, undertakes and confirms that the referrer does not make any claim, of returns or performance expressly or impliedly, in respect of or relate to a security or securities, unless the referrer has been permitted by the SEBI to make such a claim.
33. The aforesaid conditions are agreed by the referrer to be complied at all points of time failing which, KSL reserves the right to cancel the referral arrangement at any point of time and withhold any referral incentive/s without any prior notice, recover past incentive/s through appropriate recovery measures, and take all necessary measures and suitable action as it deems fit, including but not limited to, reporting the matter to the concerned authorities for further action.

To check previous T&C from 1st October 2024 to 31st October 2024, click here

Research Disclaimer

Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Our research should not be considered as an advertisement or advice, professional or otherwise. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and the like and take professional advice before investing. This research report and its respective content by Kotak Securities Limited made available on this page do not constitute an offer to sell or purchase or subscribe for any securities or solicitation of any investments or investment services for Canadian persons or US persons. Read detailed disclaimer here

Any views and/or opinions stated are personal. Please do thorough research or consult your financial manager/advisor before making an investment.

Trade Free Youth

Terms and Conditions

1. Applicable only to anyone below the age group of 30 years.
2. Brokerage of Rs.49/- per executed order will be charged for orders placed through dealers/ customer service executives and trades squared off by Kotak Securities.
3. Processing fee for Securities Lending & Borrowing Mechanism (SLBM) will be 15% of lending & borrowing fee, subject to minimum of 10 paise per share.
4. For all Delivery trades, a nominal charge of 1 paise per order will apply.
5. Margin Trading Facility Interest rate is subject to change with notice.
6. Brokerage will not exceed the rates specified by SEBI and the Exchanges.
7. STT, CTT, GST and all other applicable exchange/ regulatory/ statutory charges/ taxes will be levied as per applicable rates.
8. Investor Protection Fund Trust (IPFT) charges will be applicable for all NSE transactions (Rs.10 per crore of volume in Equity and Futures; Rs.50 per crore of volume in Equity Options; Rs.0.05 per lac of volume in Currency Futures and Rs.2 per lac of volume in Currency Options)
9. Dispute related to the offer will not be dealt on the Exchange platform.
10. KSL reserves the right without previous notice to add/change/ withdraw/ modify/alter or vary any or all of these terms and conditions or to replace, wholly or in part, this Plan by another Plan, whether similar to this Plan or not, or to extend or withdraw it altogether at its sole discretion, at any time without prior intimation and without assigning any reason whatsoever. Under such circumstance I / We understand that I / We shall not be eligible for the Brokerage cashback and I/We shall not hold KSL responsible for such action or for any loss suffered by me/us and I/We shall have no claim against KSL.
11. For more details, please check FAQ’s.

Trade Free Plan

Terms & Conditions:

1. Expiry/ exercise or assignment trades will be charged ₹ 10 per executed order.
2. Additional brokerage of maximum ₹ 49 per executed order will be charged for orders placed through dealers/customer service executives and trades squared off by Kotak Securities.
3. Rs.100 will be charged as additional brokerage for every order liquidated by Risk management in case of any shortfall of margins / recovery of debits in your account.
4. Processing fee for Securities Lending & Borrowing Mechanism (SLBM) will be 15% of lending & borrowing fee, subject to minimum of 10 paise per share.
5. Brokerage will not exceed the rates specified by SEBI and the Exchanges.
6. STT,CTT,GST and all other applicable exchange/regulatory/statutory charges/taxes will be levied as per applicable rates.
7. Investor Protection Fund Trust (IPFT) charges will be applicable for all NSE transactions (Rs.10 per crore of volume in Equity and Futures; Rs.50 per crore of volume in Equity Options; Rs.0.05 per lac of volume in Currency Futures and Rs.2 per lac of volume in Currency Options)
8. KSL reserves the right without previous notice to add/change/ withdraw/ modify/alter or vary any or all of these terms and conditions or to replace, wholly or in part, this Plan by another Plan, whether similar to this Plan or not, or to extend or withdraw it altogether at its sole discretion, at any time without prior intimation and without assigning any reason whatsoever. Under such circumstance I / We understand that I / We shall not be eligible for the Brokerage cashback and I/We shall not hold KSL responsible for such action or for any loss suffered by me/us and I/We shall have no claim against KSL.

Trade Free Max

Terms & Conditions:

1. Plan fees: Rs.2,499+GST p.a. will be debited on successful execution of 1st MTF order.
2. Minimum brokerage of Rs. 20 per executed order will be charged for Equity Delivery transactions.
3. Expiry/ exercise or assignment trades will be charged Rs. 20 per executed order.
4. Additional brokerage of maximum Rs.89 per executed order will be charged for orders placed through dealers/customer service executives and trades squared off by Kotak Securities.
5. Processing fee for Securities Lending & Borrowing Mechanism (SLBM) will be 15% of lending & borrowing fee, subject to minimum of 10 paise per share.
6. For all free intraday trades, a nominal charge of 1 paisa per scrip/underlying will apply.
7. Brokerage will not exceed the rates specified by SEBI and the Exchanges.
8. STT,CTT,GST and all other applicable Exchange/Regulatory/Statutory Charges/Taxes will be levied as per applicable rates
9. Investor Protection Fund Trust (IPFT) charges will be applicable for all NSE transactions (Rs.10 per crore of volume in Equity and Futures; Rs.50 per crore of volume in Equity Options; Rs.0.05 per lac of volume in Currency Futures and Rs.2 per lac of volume in Currency Options)
10. This Plan is not applicable to the following:

a. Non-Resident Indian (NRI) clients

b. Franchisee clients

c. Clients who belong to 'Offline' customer type

d. Kotak Securities employeese.

e. Clients who are currently part of any one of the following brokerage plans:

• Advanced Brokerage Plan
• Differential Brokerage Plan

10. KSL reserves the right without previous notice to add/change/ withdraw/ modify/alter or vary any or all of these terms and conditions or to replace, wholly or in part, this Plan by another Plan, whether similar to this Plan or not, or to extend or withdraw it altogether at its sole discretion, at any time without prior intimation and without assigning any reason whatsoever. Under such circumstance I / We understand that I / We shall not be eligible for the Brokerage cashback and I/We shall not hold KSL responsible for such action or for any loss suffered by me/us and I/We shall have no claim against KSL.
11. In case of any dispute, the decision of the management of the KSL will be final and shall be binding on me/us.
12. All disputes arising out of or in connection with this Plan shall be subject to the exclusive jurisdiction of courts in the city of Mumbai only.
13. Any person availing this Plan shall be deemed to have read, understood and accepted these terms and conditions.

Trade Free Pro

Terms & Conditions:

1. Rs.249+GST per month to be charged on successful subscription of the plan. The plan will be auto-renewed on a monthly basis.
2. Exercise or assignment trades will be charged Rs. 10 per executed order.
3. Additional brokerage of Rs.49 per executed order will be charged for orders placed through dealers/ customer service executives and trades squared off by Kotak Securities.
4. Brokerage of only 0.01% of the transaction value shall be levied for all liquid ETF’s, Gsecs & T-bills
5. Brokerage of only 0.05% of the transaction value shall be levied for all other ETF.
6. Brokerage will not exceed the rates specified by SEBI and the Exchanges.
7. In Equity F&O, additional brokerage of Rs.100 per executed order and the system square off charges will be levied over and above the brokerage rate in case of risk team liquidating a position due to debtors or margin shortfall.
8. Processing fee for Securities Lending & Borrowing Mechanism (SLBM) will be 15% of lending & borrowing fee, subject to minimum of 10 paise per share.
9. STT, CTT, GST and all other applicable exchange/ regulatory/ statutory charges/ taxes will be levied as per applicable rates.
10. Investor Protection Fund Trust (IPFT) charges will be applicable for all NSE transactions (Rs.10 per crore of volume in Equity and Futures; Rs.50 per crore of volume in Equity Options; Rs.0.05 per lac of volume in Currency Futures and Rs.2 per lac of volume in Currency Options)
11. The Plan is not applicable to NRI’s, Franchisee clients, Clients who belong to “Offline” customer type and Kotak Securities employees.
12. KSL reserves the right without previous notice to add/change/ withdraw/ modify/alter or vary any or all of these terms and conditions or to replace, wholly or in part, this Plan by another Plan, whether similar to this Plan or not, or to extend or withdraw it altogether at its sole discretion, at any time without prior intimation and without assigning any reason whatsoever. Under such circumstance I / We understand that I / We shall not be eligible for the Brokerage cashback and I/We shall not hold KSL responsible for such action or for any loss suffered by me/us and I/We shall have no claim against KSL
13. All disputes arising out of or in connection with this Plan shall be subject to the exclusive jurisdiction of courts in the city of Mumbai only.
14. Any person availing this Plan shall be deemed to have read, understood and accepted these terms and conditions.

Mutual Fund

Kotak Securities Limited: CIN: U99999MH1994PLC134051, SEBI Registration No. INZ000200137 (Member of NSE, BSE, MSE, MCX & NCDEX), AMFI-registered Mutual Fund Distributor. AMFI ARN: 0164, Date of Registration: July 07, 2002, Current validity of AMFI ARN - July 23, 2027, PMS INP000000258 and Research Analyst INH000000586. NSDL/CDSL: IN-DP-629-2021.

Terms and Conditions:

In line with SEBI Circular for Mutual Funds (MF) dated August 22, 2011, the Client who places the order for purchasing MF with Kotak Securities Limited (KS) under 'Execution Only' category agrees and confirms as under;

1. For Mutual Fund units that are held in the demat account by the Client, KSL shall levy “Annual Maintenance Charges/DP Charges” in respect of the same, pursuant to the terms and conditions agreed by and between Client and KSL during such account opening.
2. That I/we has read and understood the terms, conditions, details, rules and regulations governing the scheme and the content of the Scheme Information Document (SID) / Statement of Additional information (SAI), Key Information Memorandum (KIM) etc. of the MF scheme.
3. That the Order for the purchase /sale of units of MF scheme(s) shall be on the basis of his/its own analysis and under the category "execution only".
4. That KS is a distributor of mutual funds of various Asset Management Companies (AMC's) including Kotak Asset Management Company Ltd which is a group company.
5. That KS is entitled to receive Commission for the Schemes of various Mutual Funds as distributor from various Asset Management Companies.
6. That (For NRIs only) he/she/it is a Non Resident Indian or origin and that has remitted the funds from abroad through approved banking channels or from funds in his/her/its Non Resident External / Non Resident Ordinary / FCNR account.
7. That he/she/it shall abide by the terms and conditions, circulars / notices issued thereunder by the Exchanges/AMC and shall ensure compliance with the requirements as may be specified from time to time by Securities and Exchange Board of India and Association of Mutual Funds of India (AMFI) and any other laws in force.
8. For all orders placed under the regular mutual fund schemes category, the above annual charges of Rs. 999/- shall not be applicable. Kindly refer to AMC charges.
9. That he/she/it has read and understood the risks involved in investing in Mutual Fund Schemes.
10. That he/she/it shall be wholly responsible for all his/her/its investment decisions and instruction.
11. That the details of AMC's for whom KS is a distributor are given below
12. I/We confirm that details provided by me/us are true and correct. I/We has/have invested or desirous to invest in the Scheme (s) Mutual Fund under Direct plan and agree to comply with the terms and conditions of the Scheme related documents.
13. I/We hereby give you my/our consent to share/provide the transactions data feed/portfolio holdings/NAV etc. in respect of my/our investments under Direct Plan of all Schemes managed by you, to the above mentioned R/A.
    

Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Bnp Paribas Mutual Fund, Canara Robeco Mutual Fund, Dhfl Pramerica Mutual Fund, Dsp Blackrock Mutual Fund, Franklin Templeton Mutual Fund, Hdfc Mutual Fund Hsbc Mutual Fund, Icici Prudential Mutual Fund, Idfc Mutual Fund, Jm Financial Mutual Fund, Kotak Mahindra Mutual Fund, L&T Investment Mutual Fund, Lic Mutual Fund, Principal Mutual Fund, Reliance Mutual Fund, Religare Invesco Mutual Fund, Sbi Mutual Fund, Sundaram Mutual Fund, Tata Mutual Fund, Uti Mutual Fund, Mirae Asset Global Investments (India) Pvt. Ltd.

Account Aggregator to activate segment(s)

Terms and Conditions for using Account Aggregator to activate segment(s)

Sector Disclaimer

By referring to any particular sector, Kotak Securities Limited does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing. Such representations are not indicative of future results.

Third Party Products

Kotak Securities Limited is a corporate trading and clearing member of Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE), and Metropolitan Stock Exchange of India Limited (MSE) National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX). Our businesses include stock broking, services rendered in connection with distribution of primary market issues and financial products like mutual funds and fixed deposits, depository services and Portfolio Management. Kotak Securities Limited is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). Kotak Securities Limited is also registered with Insurance Regulatory and Development Authority as Corporate Agent for Kotak Mahindra Life Insurance Company Limited & Zurich Kotak General Insurance Company (India) Limited and is also a “Distributor” registered with Association of Mutual Funds in India (AMFI). We are registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014.

Apart from KSL’s own products / services, KSL is also acting as a distributor of third party products or Mutual Funds, PMS services, Long Short Strategies, IPO/ESOP financing, Loan against property, Debt Mutual Funds, Bonds / NCD’s, Fixed Maturity Plans, Hybrid Funds, Insurance plans, Nifty Link Debenture, Equity /debt structure, Alternative Investment Funds, AMCs, structured Product / Services etc. The products, services and benefits referred to herein are subjected to the terms and conditions governing them as specified by KSL / third party from time to time. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to sell/purchase of any products/services of KSL / third parties and is not intended to create any rights and obligations. KSL does not accept any responsibility for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out herein is subject to modification and may change materially. Any investment in such third party products / services shall constitute a binding contract between you and the third party company. KSL shall not be liable or responsible for any loss, claim or shortfall resulting from third party’s products/services. Whether to accept the third party products / services offered by KSL shall be at your sole discretion, independent analysis and at your own evaluation of the risk involved. However, KSL does not guarantee or warrant the accuracy, adequacy or completeness of any third party services offered by KSL. KSL holds no responsibility as regard to the fees, any discrepancies, errors or omissions, losses, damages or any other transaction between you and third party. Please note that any dispute, claim, difference or any type of complaint pertaining to the services provided by third parties, shall not be entertained by KSL and you will not have recourse to dispute redressal mechanism/arbitration mechanism/investor protection schemes of the Stock Exchanges/SEBI. Any Dispute, claim, difference or any complaint shall be subjected to the respective agreements / transaction entered by you with such third party/parties. KSL specifically states that KSL or any of its directors, employees, authorized person etc shall not hold any financial liability or contingent liability towards you/any third party in respect of transactions between you and third party. KSL has no direct or indirect business relationship with the above mentioned third-party research service provider for providing the said Research recommendation.

Kotak Securities Limited act as a referral for the third party products and does not own any liability for the said products. Since these are not Exchange traded product and Kotak Securities Limited is acting as distributor/referrer, all disputes with respect to the distribution/referral activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Global investing: The aforesaid content is for information purpose only and may have been sourced from publicly available sources or otherwise. KSL does not guarantee the authenticity and veracity of the material shared. KSL through this material does not in any way solicit any offer to transact in any financial instrument referred in this material, whether explicitly mentioned or otherwise. KSL does not provide any research or advise on any financial instruments available in international markets for the clients who have opted for investing in any such markets. The paths shared herein are for the ease of reference of the client, which is only to guide the client on how to redirect to the partner’s platform wherein client may review any content at their own discretion. The client understands and agrees that KSL is not aware nor liable for any content shared by the partner on its platform. The clients are required to carry out their own investigation, analysis, seek professional advice, gain complete knowledge and educate themselves on all the possible risks involved before entering into any investment. The clients also agree to keep themselves aware of the various rules and regulations of the Exchanges, Regulators and all applicable Authorities of the markets in which they opt to transact through the partner’s platform. Involvement of Kotak Securities Limited is restricted to Referral Only. Kotak Securities Limited does not offer this product directly to customers. Client’s details will be shared with third party stockbroker (Interactive Brokers LLC.) with expressed consent from clients. All dealings including KYC will be executed by third party stockbroker (Interactive Brokers LLC.) directly with client and Kotak securities Ltd. will not incur any personal financial liability. The securities are quoted as an example and not as a recommendation. Involvement of Kotak Securities Limited is restricted to Referral Only.

smallcase Disclaimer

KSL established in 1994, is a subsidiary of Kotak Mahindra Bank Limited. KSL is one of India's largest brokerage and distribution house. KSL is a corporate trading and clearing member of Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE), Metropolitan Stock Exchange of India Limited (MSE), National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX). Our businesses include stock broking, services rendered in connection with distribution of primary market issues and financial products like mutual funds and fixed deposits, depository services and Portfolio Management. KSL is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). KSL having composite license no.CA0268 is a Corporate Agent of Kotak Mahindra Life Insurance Company Limited and Zurich Kotak General Insurance Company (India) Limited and is also a “Distributor” registered with Association of Mutual Funds in India (AMFI). We are registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014. We hereby declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered in last five years. However SEBI, Exchanges, Clearing Corporations and Depositories etc have conducted the routine inspection and based on their observations have issued advise/warning/show cause notices/deficiency letters/ or levied penalty or imposed charges for certain deviations observed in inspections or in normal course of business, as a Stock Broker / Depository Participant/Portfolio Manager. We have not been debarred from doing business by any Stock Exchange / SEBI or any other authorities; nor has our certificate of registration been cancelled by SEBI at any point of time.

We offer our research services to clients as well as our prospects.

Smallcase/baskets are not an exchange approved product and disputes related to the same will not be dealt on the Exchange platform.

The recommendations that will be recommended herein are general recommendations , for information and must not be reproduced or redistributed to any other person. Persons into whose possession this may come are required to observe these restrictions. This is for the personal information of the recipient, and we are not soliciting any action based upon it. This is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Kotak Securities Ltd. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Neither KSL, nor any person connected with it, accepts any liability arising from the use of such recommendations. The recipients should rely on their own investigations and take their own professional advice. Price and value of the investments referred may go up or down. Past performance does not indicate the future performance of the strategy. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a company's fundamentals and as such, may not match with a report on a company's fundamentals.

Opinions expressed are the current opinions as of the date appearing on the relevant material only. While we endeavor to update on a reasonable basis the information discussed, there may be regulatory, compliance or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein.

The paid/fee based smallcases have an access-fee to it that the client is required to pay in order to view the constituents of the basket and invest in them. The fees charged by Kotak Securities Limited is towards the service fee and same does not guarantee any returns or assurances on any investment/product availed by the client. KSL will not be responsible for lost profits, revenues, or data, financial losses, direct or indirect, special, consequential, exemplary, notional or punitive damages. In all cases, KSL will not be held liable for expense, loss or damage that is not reasonably foreseeable.

Auto renewal feature of your fee based smallcase subscription is an option that can be chosen if you want your subscription to be automatically renewed post completion of the tenure of your existing subscription plan. During the time of auto renewal, the subscription fee for renewal will be charged via the same payment mechanism which was originally selected for subscribing to your fee based smallcase.

KSL does not make any promises, commitments, guarantees about paid/fee based smallcases or related offerings, when permitted by law, KSL will not be responsible for lost profits, revenues, or data, financial losses, direct or indirect, special, consequential, exemplary, notional or punitive damages. To the extent permitted by law, KSL exclude all warranties, guarantees, conditions, representations, and undertakings.

Kotak Securities Limited has two independent equity research groups: Institutional Equities and Private Client Group. The views and opinions expressed in this document may or may not match or may be contrary with the views, estimates, rating, target price of the Private Client Group or Institutional Equities Research Group of Kotak Securities Limited.

We and our affiliates/associates, officers, directors, and employees, Research Analyst(including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company (ies) discussed herein or act as advisor or lender / borrower to such company (ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of Research Report or at the time of public appearance. KSL may have proprietary long/short position in the above mentioned scrip(s) and therefore may be considered as interested. The views being provided are general in nature and does not consider risk appetite or investment objective of particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with KSL. KSL is also a Portfolio Manager. Portfolio Management Team (PMS) takes its investment decisions independent of the recommendation that will be provided/PCG/Institutional Equities research and accordingly PMS may have positions contrary to such recommendations including PCG/Institutional Equities research recommendation. KSL does not provide any promise or assurance of favorable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing.

No part of this may be duplicated in any form and/or redistributed without KSL's prior written consent.

Details of Associates are available on our website

Any U.S. recipients of the research who wish to effect transactions in any securities covered by the report should do so with or through Kotak Mahindra Inc. (Member FINRA/SIPC) and (ii) any transactions in the securities covered by the research by U.S. recipients must be effected only through Kotak Mahindra Inc. (Member FINRA/SIPC) at 369 Lexington Avenue 28th Floor NY NY 10017 USA (Tel:+1 212-600-8850).

KSL and its non US affiliates may, to the extent permissible under applicable laws, have acted on or used this research to the extent that it relates to non US issuers, prior to or immediately following its publication. This should not be construed as an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction where such an offer or solicitation would be illegal. This research and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services. Accordingly, any brokerage and investment services including the products and services described are not available to or intended for Canadian persons or US persons.

Kotak Securities Limited. Registered Office:27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. Telephone No.: 022 43360000, Fax No.: 022 67132430.Correspondence Address: Infinity IT Park, Bldg. No 21, Opp. Film City Road, A K Vaidya Marg, Malad (East), Mumbai 400097. Telephone No: 42856825. Website: www.kotak.com / www.kotaksecurities.com. CIN: U99999MH1994PLC134051. SEBI Registration No. INZ000200137(Member of NSE, BSE, MSE, MCX & NCDEX), Member Id: NSE-08081; BSE-673; MSE-1024; MCX-56285; NCDEX-1262. AMFI ARN: 0164, Date of Registration: July 07, 2002, Current validity of AMFI ARN - July 23, 2027, PMS INP000000258 and Research Analyst INH000000586. NSDL/CDSL: IN-DP-NSDL-23-97. Compliance Officer Details: Mr. Hiren Thakkar. Call: 022 - 42858484, or Email:ks.compliance@kotak.com.Investments in securities market are subject to market risks, read all the related documents carefully before investing. The information is only for consumption by the client and such material should not be redistributed. Our research should not be considered as an advertisement or advice, professional or otherwise. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return turn profile and the like and take professional advice before investing. Derivatives are a sophisticated investment device. The investor is requested to take into consideration all the risk factors before actually trading in derivative contracts.

Authorised Persons Disclaimer:

1. For Coordinator model - *T&C Applicable for coordinator model offering where Pass out is up to 10%
2. For E - Franchisee/Digital Franchisee model - *T&C Applicable for E Franchisee/Digital Franchisee model offering where Pass out is up to 50%
3. For In-House Franchisee - The support is offered to in-house franchisee. They can walk-in to power branch to avail the infrastructure facilities and place orders via dealers. This support is provided depending upon the availability. Mandatory registration charges and taxes will be applicable.

Disclosure/Disclaimer of smallcase/WCPL as declared by it:

smallcase is receiving consideration from KSL for providing technology solutions and related backend infrastructure for facilitating transactions in investment products.

Whether smallcase or WCPL or their associate company/ies or their research analysts including their relatives have any financial interest in the Subject Company** and nature of such financial interest - No

Whether smallcase or WCPL or their associate company/ies or their research analysts including their relatives have actual/beneficial ownership of 1% or more in the securities of Subject Company at the end of the month immediately preceding the date of publication of the document- No

Whether the smallcase or WCPL or their associate company/ies or their research analysts including their relatives has received any compensation or any other benefits from the Subject Company or third party in connection with the research report or any other activity- No

Whether Directors of smallcase or WCPL or their associate company/ies and their Research Analysts has served as an officer, director or employee of the subject company: No

Whether the smallcase or WCPL or their associate company/ies or their research analysts has been engaged in market making activity of the subject company. No

Whether the smallcase or WCPL or their associate company/ies or their research analysts including relatives have any other material conflict of interest at the time of publication of the research report or at the time of public appearance: No

Whether smallcase or WCPL or their associate company/ies have managed or co-managed public offering of securities for the subject company in the past twelve months: No

Whether smallcase or WCPL or their associate company/ies company have received any compensation for investment banking or merchant banking or brokerage services from the subject company. No

Whether smallcase or WCPL or their associate company/ies have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company - No

Subject Company means companies recommended by smallcase/WCPL

smallcase/WCPL Ratings and Other Definitions

smallcase and / or WCPL doesn't give any recommendation on individual stocks. Windmill Capital Private Limited provides portfolio research.

Address - 3rd Floor, Le Parc Richmonde, Richmond Road, Shanthala Nagar, Richmond Town, Bangalore - 560025 CIN - U74900KA2015PTC081722

A graph of daily closing prices of securities is available at NSE and Economic Times (Choose a company from the list on the browser and select the "three years" icon in the price chart).

SIP instalment disclaimer

1. In case you have a Kotak Trinity account (3-in-1 account), The funds for your SIP instalment will be automatically transferred from your linked bank account into your trading account on the SIP due date (known as the auto-debit facility) and the orders will be placed.
2. If the bank account does not have sufficient balance, but there is sufficient ledger balance available, the orders shall go through successfully In case you have a trading account which is NOT a Trinity Account,
3. The orders for your SIP instalment will be placed on the SIP due date, and if there is sufficient ledger balance available, the orders shall go through successfully

KSL shall execute the SIP orders as per SIP instruction on the SIP execution date and all such orders shall be deemed to be considered as the order placed by the Client.

Auto debit disclaimer

1. Please note that if the balance available in the bank account is less than the order value, and there is no sufficient margin available with Kotak Securities ledger / security margin, all the orders of that particular smallcase SIP instalment might get rejected.
2. Even if an auto debit is successful, smallcase SIP instalment will be processed only if the margin is available in the system after clearing all pending debits.
3. Please note that in case of accounts that had positive margin when the bank account was auto debited and have negative margin at the time of placing the smallcase SIP instalment orders, the orders shall not go through, even though the amount was debited from the bank.
4. Please note that the smallcase SIP instalment order might fail, if a funds confirmation is not received due to technical issues till the time the order is processed. The bank account has to be funded by 7am (cut-off time) on the date the smallcase SIP instalment order is to be triggered.
5. Please note that in case the bank does not have sufficient balance, but there is sufficient ledger balance available, the smallcase SIP instalment orders shall go through for Trinity accounts. The bank account will be debited for Trinity accounts, even if the client has credit balance in the ledger.
6. Kotak securities Ltd. does not warrant that the facility / service will be uninterrupted or error free. The Client agrees that Kotak securities Ltd. shall not be responsible for any delays or failure in the process of an smallcase SIP instalment order or an auto-debit due to breakdown or failure of the system due to technical fault/error or otherwise any other delay or failure beyond the reasonable control of Kotak Securities Ltd.
7. An auto debit will not get processed on a bank holiday or a day on which the markets are closed.
8. Kotak Securities Ltd reserves at any time, without previous notice to add/change/ withdraw/modify/alter or vary any or all of these terms and conditions or to replace, wholly or in part, this facility at its sole discretion, at any time without prior intimation and without assigning any reason whatsoever. Under such circumstance I / we understand that I / we shall not be eligible for this facility and I/We shall not hold KSL responsible for such action or for any loss suffered by me/us and I/We shall have no claim against Kotak Securities Ltd.
9. In case of any dispute, the decision of the management of the Kotak Securities Ltd will be final and shall binding on me/us.
10. All disputes arising out of or in connection with this facility are subject to the exclusive jurisdiction of courts in the city of Mumbai only and all decisions by Kotak Securities Ltd will be final and based on discretion wherever applicable.
11. Any person availing this facility shall be deemed to have read, understood and accepted these terms and conditions.

Intelligence

This information is from a third party—Business Standard—offered through a tie-up to Kotak Securities customers. This information is provided "AS IS" and "AS AVAILABLE" basis and Kotak Securities Ltd make no representation or warranty of any kind , express or implied regarding the accuracy, adequacy, validity , reliability , availability or any completeness of the information provided herein. The third party content is not created or endorsed by any business offering products or services through it. The provision of this third party content is for general informational purposes only and does not constitute a research call, recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Also, the views and opinions stated in the content belong to Business Standard. Kotak Securities does not uphold nor promote any of the views. These reports do not, in any way, qualify as a Kotak Securities research report.

KSL holds no responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. For data reference to any third party in this material no such party will assume any liability for the same. Kotak Securities Ltd and/or any affiliate of Kotak Securities Ltd does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. Kotak Securities Ltd (including its affiliates) and any of its officers directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner.

All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Kotak Securities Ltd. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else.

StockEdge & Elearnmarkets offer

What you get - Elearnmarkets course (ELM) which offers comprehensive online stock market courses by leading experts with decades of collective experience and Stockedge premium’s quarterly membership.

1. Elearnmarkets (ELM) Course worth Rs.999/-
2. StockEdge Premium Quarterly membership worth Rs.999/-

Terms and Conditions

1. Eligible customers will be communicated via email/SMS on their registered email id/mobile number with KSL.
2. Subscription details will be shared with the eligible in line with the SEBI/ Exchange regulations and internal policies and procedures of KSL.
3. KSL reserves the right to disqualify any customer from the benefits offered if any fraudulent activity is identified as being carried out for the purpose of availing of the subscription codes.
4. The decision of the KSL in all matters in connection with and incidental to this product shall be final and binding on all persons.
5. KSL shall not be responsible or liable in any manner whatsoever for any deficiency or inadequacy in the services rendered by Elearnmarkets and/ or StockEdge and the customer hereby agrees not to hold KSL responsible or liable for, any losses, damages, costs, charges, expenses, claims (whether direct or indirect), actions or demands suffered by the customer in relation to availing the benefits of the product.
6. The product is non-negotiable, non-transferable and non-encashable under any circumstances.
7. Participation in this product is voluntary.
8. Any customer availing the product shall be deemed to have read, understood and accepted these terms and conditions, the general terms and conditions of the KSL and the terms and conditions of Elearnmarkets and StockEdge. KSL merely facilitates its customers to avail of the facility and it is in no way concerned or connected with the terms and conditions of Elearnmarkets and StockEdge. Acceptance of the ‘subscription codes’ constitutes acceptance of all of these terms and conditions, changes to which may be effected and published at any time. KSL holds out no warranty and makes no representation with respect to the service offered by Elearnmarkets and StockEdge. In case of any disputes or complaints regarding the same, the customer is required to resolve the same directly with Elearnmarkets and/or StockEdge by writing to the Contact Us section support@elearnmarkets.com / support@stockedge.com without any reference to the KSL whatsoever.
9. The KSL reserve the right, at any time, without previous notice to add, alter, modify, change or vary all or any of these terms and conditions, or to replace, wholly or in part, this product with another product/ proposal, whether similar to this proposal or not, or to extend or withdraw it altogether without assigning any reason whatsoever.
10. All disputes arising out of or in connection with this product shall be referred to arbitration under the provisions of the Arbitration and Conciliation Act, 1996 or as may be amended from time to time. The arbitration proceedings shall be presided over by a sole arbitrator appointed by KSL. The venue of arbitration shall be Mumbai and the language of the Arbitration shall be English. The courts in Mumbai shall alone have exclusive jurisdiction over any dispute.
11. Any complaints/disputes pertaining to this product shall not be entertained on the Exchange platform.

Trade API Disclaimer

I / We understand that “TradeAPI” is a suite of Application Programming Interface (APIs). The TradeAPIs provides programmatic access including, but not limited to: placing and managing orders; Stream live market data / Market Depth, various reports on orders, positions, portfolio, margins etc, Market status, Order/Trade confirmation, Historic & Intraday price feed etc among the other access. I / We understand that the APIs are meant to be used for building innovative investment and Internet Based Trading (IBT) platforms with the greater goal of increasing capital market participation in India. This may be for personal use, where the Client develops a customized private software / program/API (Private software) exclusively for customizing personal trading and investment experience. Development of trading platforms are bound by various norms and regulations stipulated by SEBI and exchanges. I / We understand that the “Terms” described hereunder, and any additional terms prescribed under policies and guidelines, Rights and obligations, Voluntary Terms and conditions, Risk Disclosure Documents etc among the other agreements / documents executed / acknowledged at the time of account opening concerning the use of the APIs / internet & wireless technology based trading facility provided by Kotak Securities Ltd (KSL) to client are collectively referred to as the "Terms". In consideration to KSL agreeing to provide TradeAPIs, which connects my / our private software with IBT platforms of KSL, I/we hereby undertake, understand, authorize, confirm, bound and agree to/that:

1. Approvals - I/ We have taken necessary approvals for developing such private software and shall adhere to this platform and related circulars, guidelines, regulations issued by them from time to time and seek appropriate Regulatory / Exchanges approvals, if necessary.
2. I/ We shall be solely responsible for the private software program used by me/us.
3. I / We shall only access (or attempt to access) TradeAPI by the means described in the documentation of that TradeAPI. Any circumvention of the methods described in the documentation may result in the termination of my/our access to TradeAPI.
4. KSL may set limits on my / our use of TradeAPI (for instance, limiting the number of requests sent to a particular API) manually or via automated checks to ensure the stability of TradeAPI.
5. If I/we need to use TradeAPI beyond the limits imposed by KSL, I/We shall obtain express consent from KSL in writing and at additional cost. Such consent shall be at exclusive discretion of KSL and not questionable under any circumstances.
6. KSL has complete controls over TradeAPI and shall reject any order at its discretion without assigning any reason and without giving any advance notice.
7. Exclusivity - TradeAPI Terms are non-exclusive and KSL may develop products or services that may be similar and may be in direct or indirect competition with any platform that is built using TradeAPI.
8. Tracking and monitoring - By using TradeAPI, I/We agree that KSL may monitor, track, and record all interactions / Instructions and requests happening via TradeAPI, for the purpose of ensuring stability, security, and reliability of TradeAPI.
9. Automated trades - The TradeAPI is not meant for placing fully automated trades (without manual intervention). If you wish to use the TradeAPI for full automation, you should seek necessary approvals from the Regulator / Exchanges. KSL can provide the necessary assistance in obtaining approvals.
10. Prohibitions - When using TradeAPI, I / We cannot:

a. Sublicense TradeAPI to third party.

b. Perform an action with the intent of introducing to KSL’s products and services, any viruses, worms, defects, Trojan horses, malware, or any items of destructive nature

c. Defame abuse, harass, stalk, or threaten others.

d. Interfere with or disrupt APIs or the servers or networks

e. Promote or facilitate unlawful online gambling or disruptive commercial messages or advertisements

f. Reverse engineer or attempt to extract the source code from any API or any related software, except to the extent that this restriction is expressly prohibited by applicable law

g. Remove, obscure, or alter any KSL terms of service or any links to or notices of those terms 11. Confidentiality - credentials (such as User id, passwords, APIs keys and secrets, Trading codes and Client IDs etc) are intended to be used only by me/us and I / We agree to keep the said credentials strictly confidential.

12. KSL's communications to me/ us may contain confidential information, which include any materials, communications, and information that are marked confidential or that would normally be considered confidential under the circumstances. If I/we receive any such information, then I / we shall not disclose it to third party without KSL’s prior written consent.
13. Prohibitions - Unless expressly permitted by KSL or by the applicable laws, I/ we shall not, do the following; Scrape, build databases, or otherwise create permanent copies of such content, or keep cached copies with the intent of redistributing. a. Copy, translate, modify, create a derivative work of, sell, lease, lend, convey, distribute, publicly display, or sublicense to any third party b. Misrepresent the source or ownership; or c. Remove, obscure, or alter any intellectual property, or other proprietary rights notices; or falsify or delete any author attributions, legal notices, or other labels of the origin or source of material.
14. Costs - KSL may charge me/ us for using KSL TradeAPI, or parts of it selectively. These charges may be fixed or variable, and are at the sole discretion of KSL. KSL may also propose additional charges to me/us, (based on usage of KSL TradeAPI and on a case-by-case basis) for the continued use of KSL TradeAPI.
15. Non-refundable charges - KSL may charge me/ us for using KSL TradeAPI, or parts of it selectively. These charges may be fixed or variable, and are at the sole discretion of KSL. KSL may also propose additional charges to me/us, (based on usage of KSL TradeAPI and on a case-by-case basis) for the continued use of KSL TradeAPI.
16. Liability- Uptime-KSL TradeAPI response and account access times may vary due to a variety of factors, including, but not limited to, trading volumes, market conditions, system performance, technical and other factors. Market volatility, volume and system availability may delay account access and trade executions. The uptime and availability of KSL TradeAPI may be affected by technical or other factors within or outside of KSL's control, or unforeseen circumstances including natural disasters, force measure events etc.
17. No guarantees or warranties- KSL does not make any promises, commitments, guarantees about KSL TradeAPI or related offerings, when permitted by law, KSL will not be responsible for lost profits, revenues, or data, financial losses, direct or indirect, special, consequential, exemplary, notional or punitive damages. To the extent permitted by law, KSL exclude all warranties, guarantees, conditions, representations, and undertakings.
18. Limitation of Liability- KSL will not be responsible for lost profits, revenues, or data, financial losses, direct or indirect, special, consequential, exemplary, notional or punitive damages. In all cases, KSL will not be held liable for expense, loss or damage that is not reasonably foreseeable.
19. Termination- This agreement is effective until terminated. My/our rights under this agreement shall terminate automatically or forthwith without notice from KSL, if I /we fail to comply with any terms and conditions under this agreement. KSL may terminate this agreement without reason by giving ten (10) days written notice, without assigning any reason. Upon termination, KSL does not hold any liability or other obligation to me/us. If I/ we want to terminate the terms, I/ we must provide KSL with prior written notice and upon termination, cease your use of the applicable TradeAPI, use of KSL brand and delete any cached or stored content that was permitted by the cache header.
20. Surviving provisions - When the terms come to an end, those terms that by their nature are intended to continue indefinitely will continue to apply.
21. I/ We shall indemnify KSL and hold KSL and their parent companies, members, subsidiaries, affiliates, Authorized Parsons, service providers, syndicators, distributors, licensors and its respective officers, directors and employees indemnified against all liabilities, damages, losses, costs, fees, charges (including legal fees) and expenses relating to any allegation or third party legal proceeding to the extent arising from: Technical faults or the limitations of KSL TradeAPI.

a. Misuse or end user's misuse of KSL TradeAPI.

b. Violation or end user's violation of the Terms; or

c. Any content or data routed into or used with the TradeAPI, those acting on my/our behalf, or end users

d. Any breach of applicable Laws and Regulations by the end users

e. Any Claim by end user against KSL arising from the usage of KSL TradeAPI.

f. Any breach, damages and/or third party claims to KSL’s Intellectual Proprietary rights due to the usage of TradeAPI.

g. Remove, obscure, or alter any KSL terms of service or any links to or notices of those terms 22. Trading through IBT Platform using internet involves many uncertain factors and complex third party hardware, software, systems, communication lines, peripherals, etc. are susceptible to interruptions / delay in transmission of data / non receipt of instructions / dislocations. KSL do not make any representation or warranty about the same.

23. Transmission of information through internet / electronic media is not a secure means of sending information and may be subject to tampering and un-authorised access, fraudulently or mistakenly written, altered or sent, not be received in whole or in part by the intended recipient, may reach KSL in a jumbled state or in a manner or shape that it may be misunderstood or the recipient's system may be unattended at the time of dispatch of the Instructions.
24. I/ we shall not hold KSL liable for any inaccuracy, error or delay in, or omission of, the receipt of any Instruction or arising out of "force majeure" or any loss or damage arising from or occasioned by any such inaccuracy, error, delay or omission. KSL shall also not be liable for any losses or damages suffered or incurred by KSL due to an act or omission of KSL's attributable to tampered and/or unauthorized Instructions, Instructions that are fraudulently or mistakenly written, altered or sent, or as a result of Instructions that may not be received in whole or in part by KSL
25. I / we shall not claim against KSL on account of any suspension, interruption, non-availability or malfunctioning of APIs or non-execution of orders due to any link/system failure at KSL end for any reason beyond the control of KSL
26. I/ we accept full responsibility for the monitoring and safeguarding of my/our accounts and shall bear entire risk, responsibility and liability for any and all unauthorized use and misuse of Private software. I/We shall be solely responsible for the Services used by any person whosoever using my/our private software, whether or not such person was authorized to do so.
27. Governing law/forum Except for the claims/ disputes which are subject to the Rules and Regulations of the respective Exchanges, any and all claims / dispute relating to or arising out of this understanding shall be resolved/adjudicated by sole arbitrator appointed by KSL. The place of arbitration shall be at Mumbai and conduct in English. Courts in Mumbai shall have exclusive jurisdiction.

THIS AGREEMENT REQUIRES ACCEPTANCE TO PROCEED TO UTILISATION OF TradeAPI. THE ACCEPTANCE SO GIVEN CONCLUDES THE AGREEMENT AND THIS AGREEMENT DOES NOT REQUIRE A PHYSICAL/DIGITAL SIGNATURE. THIS AGREEMENT SHALL NOT BE INVALIDATED SOLELY ON THE GROUND THAT IT IS NOT PHSYICALLY SIGNED.

Business Partners

As a matter of policy, we do not sell or rent any Personal Information about you to any third party. However, your Personal Information may be disclosed in the manner set out below:

Business Partners- We may use certain trusted third-party companies and individuals to help provide, analyze, and improve our services including but not limited to data storage, maintenance services, database management services, credit bureau services, services of rating agencies, web analytics , payment processing, and any other service for the improvement of the Platform’s features. These third parties may have access to your Personal Information only for purposes of performing these tasks on our behalf and under confidentiality and data protection obligations similar to ours. We may disclose your Personal Information to partners who perform business functions or hosting services on our behalf and may be located outside of India.

You hereby acknowledge and consent to such use and sharing of data.

Legal Disclaimer

You must be aware that the law presumes that every man should not only know EVERY law but also the meaning and implication of every section and word contained therein. You will appreciate that if we were to try to remember only the basic laws effecting our day to day lives it would take us several years of concentrated efforts just to be able to understand a few. Hence, we at Kotak Securities have tried to do away with your tedious task of looking up and understanding the law with respect to your use of our web site and have herein below provided you with the rights, limitations and obligations within the framework of which, if agreed upon by you, in its entirety, then only can a relationship between us can be consummated.

As we would like to know you better we expect you too would like to know us better. We are, Kotak Securities Limited, incorporated under the Companies Act,1956 having registered office at 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E) Mumbai 400 051. Our main business is of Stock broking and we are members of Bombay Stock Exchange Limited, and National Stock Exchange of India Limited (NSE), We are registered as Depository Participant with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL)

In our constant efforts of providing good and cost effective service to our clients we decided to add online trading to our long list of services and have created this web site and named it as kotaksecurities.com Our web site shall provide you with a wide variety of online information and services with respect to stocks, investments including contents and applications which could either be general and or personalized in nature. In order to keep our standards we maintain, manage and operate our web site along with a team of dedicated and specialized institutions and corporations who are associated with us either as affiliates, agents, associates and or subsidiaries.

Any person can use and participate in our web site as long as he or she is a major i.e. attained the age of 18 years and capable of entering into a legal contract as per the laws in India.

On your registering with our web site and or accessing and or transmitting any data and or information, or otherwise participating and or using our web site in any manner, would indicate that you have understood, appreciated and accepted the rights and obligations voluntarily, that would, there after exist between us, in totality and without any modification to the contents contained herein. We in order to protect yours as well as our interests and security may require to alter and or amend the rights, limitations and obligations contained herein without any notice and or advise to you. Hence we advise and recommend that you check this web page of this web site on a regular basis.

Through this web site you would be linked to other web sites, web pages and or offers which would require you to understand and accept additional rights and or obligations in order to participate. Such additional rights and obligations may have been provided for in this mutual understanding but we cannot guarantee its existence in entirety, hence the same at length shall be available on those respective web site, pages and or offers that are being visited and or viewed. In the event that any of the additional rights and obligations accepted by you are ever in conflict, in whatsoever manner with your rights and obligations contained herein, then these terms shall control. Unless mentioned otherwise herein or on the respective web site and or web pages, all the rights, obligations and limitations contained herein shall supersede all previous terms and conditions. For reasons whatsoever if you may not appreciate our care and concern and the contents herein we can only advise you to, if at all, not to access or transmit any data and or information, participate and or use our web site in any manner in mutual interests.

Correspondence Address: Infinity IT Park, Bldg. No 21, Opp Film City Road, A K Vaidya Marg, Malad (East), Mumbai 400097. Tel no: 66056825. CIN: U99999MH1994PLC134051 SEBI Registration No. INZ000200137, Kotak Securities Limited: AMFI-registered Mutual Fund Distributor. AMFI ARN: 0164, Date of Registration: July 07, 2002, Current validity of AMFI ARN - July 23, 2027, PMS INP000000258 and Research Analyst INH000000586. NSDL/CDSL: IN-DP-NSDL-23-97. Compliance Officer Details: Mr. Hiren Thakkar. Call: 022 4285 8484, or Email: ks.compliance@kotak.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Derivatives are a sophisticated investment device. The investor is requested to take into consideration all the risk factors before actually trading in derivative contracts. Mutual Fund Investments are subject to market risks, please read the offer document carefully prior to investing. Kotak Securities Limited is a distributor of Mutual Funds, IPO, Bonds and Debentures. Kindly note that investments in Mutual Funds are made on the basis of the POA executed at the time of registration. Investments in securities are subject to market risk and there is no assurance or guarantee of the objectives of the Portfolio strategies being achieved. Our research should not be considered as an advertisement or advice, professional or otherwise. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and the like and take professional advice before investing. Kotak Securities is a corporate agent of Kotak Mahindra Old Mutual Life Insurance Limited(Corporate Agent Registration No. CA0268).

Regulations

The information provided by you, shall at all times be current, truthful, accurate, complete and updated by you regularly .The making of any false statements, non disclosure and or failure to provide timely updates of necessary information and facts would subject you to civil and criminal liabilities, penalties, non registration and or deactivation of your existing account with our web site without notice or intimation of any kind to you.

We may at times need to edit, alter and or remove any information in whole or in part that may be available on our web site and that we shall not be held responsible for all or any actions that may subsequently culminate into any loss, damage and or liability.

Under certain circumstances it may become necessary for us to disclose your personal information or to adhere to the bonafide requests of the government and or law in either case we shall be bound and shall at all times have the legal right to disclose any or all of your personal information

Please note that by submitting the personal details, you are authorising us/Kotak Securities to call you and send promotional communication even though you may be registered under DNC.

Registrations / Accounts held

In order to maintain effective control and provide good service to you, you would be permitted t to maintain ONLY ONE account with us at all times, unless a previous registration and or account of yours has been deactivated, invalid, inoperative or otherwise. Failure on your part to disclose such information shall make you liable for having your account deactivated and or be liable to be prosecuted under the civil and criminal procedures of law.

User name and Password

As part of the registration process, you will be asked to select a User Name and Password for accessing our services on this website. We reserve the right at our sole discretion to refuse to grant you a User Name if the username is fictitious, or an impersonation of someone else, illegal, protected by a trademark, copyright or other legal proprietary right, vulgar, obscene or offensive in any way, or may cause confusion to other members of the website Site. You agree not to provide or make known your User Name, Password or e-mail address to any other person for the purpose of facilitating such person's access and unauthorized use of this website.

You shall be the only authorized user of this website through your User Name and Password. You also agree that you shall be solely responsible for all messages posted, statements made, or acts or omissions that occur within this website through the use of your User Name and Password. If you allow third parties to access this website through your User Name and Password, you will defend and indemnify us its our affiliates and any independent contractor engaged by us to assist in monitoring our website, against any liability, costs or damages arising out of claims or suits by such third parties based upon or relating to such access and use. If you believe someone has used your Password without your authorization, or has, in your judgment, violated these Terms and Conditions, you should notify us immediately.

We wish to caution you that we have no control over the handling of personal information or endorse the content, messages or information provided by the link sites available on or through our web site which compels us to disclaim any liability with regard to any actions resulting from your participation in any linked site.

Limitation of Warranties and Indemnification

Our need to launch this web site has been to provide for online trading of stocks to our clients and also felt that it would be appreciated by you if you were to find all necessary information with respect to stocks on our web site. In order to provide you with the latest and updated information on stocks we have associated with the best in the field who will provide their contents, products and services. All the content and or the material made available on this web site or the linked sites are provided to you "AS IS " and without warranty of any kind from us whether express or implied including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose, title, non-infringement, security or accuracy and nor do we nor our affiliates, directors, employees, associates or other representatives, agents, and or subsidiaries endorse or take any responsibility for

The accuracy or reliability of any opinion, advice or statement made through the site or a linked site

The capabilities or reliability of any product or service obtained from a linked site, or

Make good all or part of any loss and or damage that may have been caused by the or user's reliance on any information, advice, product or service obtained from a linked site.

Hence it would be your responsibility to evaluate any inaccuracy, error, or delay in, or omission of

any such data, information, or message within our web site or (ii) the transmission or delivery of any data, information, or message; or

(iii) any loss, expense, cost or damage arising from or occasioned by any such inaccuracy, error, delay, or omission, non-performance, or interruption of any data, information, or message, due either to any negligent act or omission, non-performance, or interruption of any data, information, or message, due either to any negligent act or omission by us or our affiliates, agents, associates and or subsidiaries , or "force majeure" (i.e., flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications power failure, or equipment or software malfunction) or any other cause or circumstances beyond the reasonable control of KOTAK SECURITIES.

The information that we provide is not intended to be used by you as the sole basis for investment decisions, nor should it be construed as advice designed to meet the particular needs of an individual investor. In your interests we advise that you seek the advice of professionals, as appropriate, regarding the evaluation of any specific opinion, advice, product service or other content made available to you through this web site or obtained from a linked site. Hence should you act on any information, advice and or opinion available either on our web site or those sites linked with us you will not hold us nor our directors, employees, affiliates, agents, associates and or subsidiaries or other representatives liable for making good all or any loss or damage that has emanated from adhering upon any information, advise or opinion available on all or any of the web pages of our web site or those linked with us.

You agree that neither us nor our affiliates, agents, associates and or subsidiaries and any of our respective officers, directors, employees, or agents will not be liable, whether in contract, tort, strict liability or otherwise, for any indirect, punitive, special, consequential, incidental or indirect damages (including without limitation lost profits, cost of procuring substitute service or lost opportunity)arising out of or in connection with the use of our web site and or a linked site, or with the delay or inability to use the site or a linked site, even if we have been made aware of the possibility of such damages. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user's equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure, we cannot and do not guarantee continuous, uninterrupted or secure access to the internet, our web site or linked site.

KOTAK SECURITIES provides links to these other web sites only as a convenience to you and any access by you of any other linked site shall be at your consequences. We nor our respective suppliers make any representations about the suitability, reliability, availability, timeliness, and accuracy of the information, products, services, and related graphics contained on the web site for any purpose.

Further we reserve our right to disable any unauthorized links or frames and specifically disclaim any responsibility for the content available on any other Internet sites linked to us.

Copyrights/ Trademarks

All the trademarks, logos and service marks, information and content provided on our web site including its design structure and compilation are privately owned Intellectual Property Rights of either Kotak Securities and or its affiliates, agents, associates, subsidiaries and or otherwise permitted by us advertise on our web site. Unless otherwise noted you shall not copy, download or and print documents from our web site for any commercial purposes and shall not post, distribute transmit display publish sell or modify them or remove any copyright trade mark or other proprietary notices. For permission to use third party materials appearing on our web site, please contact the copyright owner.

Also the trademarks, logos and service marks available on our web site is an invaluable assets of Kotak Securities and or its affiliates, agents, associates, subsidiaries and other parties, who have been authorized by us to display the same on our web site. In our endeavor to serve and protect your interests and rights, we would appreciate if you could inform us in writing at ks.compliance@kotak.com Giving all necessary details of the violation or infringement of our trademarks, logos and service marks which are either protected by us and or available on our web site. The information thus provided by you would be forwarded to our legal advisors for opinion on all or any legal recourse that can or should be adopted by us in order to protect our intellectual Property rights.

Cookie

We reserves the right to store information on a user's computer in the form of a "cookie" or a similar file and the utilization of all or any information derived there from by us.

General

As we are incorporated under the laws of India, you will appreciate that we can only abide and follow the laws of this land for entering and or fulfilling this Agreement between the two of us i.e you and us. For the sake of jurisdiction for all or any disputes arising out of or relating to the use of this web sites the courts in the city of Mumbai in the state of Maharashtra, shall ONLY have jurisdiction. The access and or use by you of our web site shall be deemed to be UNAUTHORIZED if the terms and conditions contained herein, in part or in full including this paragraph are not recognized and or not capable of being enforced in the country and or jurisdiction from where you have voluntarily or otherwise accessed and or used our web site in any manner. You understand and agree that no joint venture, partnership, employment, or agency relationship exists between you and us as a result of this Agreement or on account of use of our web site. We reserves the right to comply with any legal, government, court and or law enforcing authorities request, requirement and or order to provide in part and or full, any information related to our web site and or its use and or the information gathered and or collected by us, in regular course or otherwise and such an act by us shall not cause the derogation of our right with respect to this Agreement nor shall it cause this Agreement to be null, void and or violation of any terms and conditions contained herein. If at time during the existence and subsistence of this Agreement any part of this Agreement is concluded to be invalid or unenforceable by any law that may be applicable to this Agreement in India shall include, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the agreement shall continue in effect. Unless otherwise expressly provided herein, this Agreement, its provisions and intentions constitutes the entire Agreement between you and us with respect to this web sites of ours and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between the two of us.

This service does not constitute an offer to sell or a solicitation of an offer to buy any shares, securities or other instruments to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. This service is not intended to be any form of an investment advertisement, investment advice or investment information and has not been registered under any securities law of any foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be lawful to offer such a service.