1. Introduction and Acceptance
These Terms and Conditions ("Terms") constitute a legally binding agreement between you ("Client," "you," or "your") and Vajraaditya Ventures ("we," "us," "our," or "the Company"), a stock broker registered with the Securities and Exchange Board of India (SEBI) with registration number INZ000196834.
By opening an account, accessing our services, or using our trading platforms, you acknowledge that you have read, understood, and agree to be bound by these Terms, along with:
- Our Privacy Policy
- Policies and Procedures
- Risk Disclosure Documents
- Client Registration Documents
- Applicable SEBI regulations and stock exchange rules
If you do not agree to these Terms, you should not use our services.
2. Definitions
- SEBI
- Securities and Exchange Board of India, the regulatory authority for securities markets in India
- Trading Account
- An account opened with us to facilitate trading in securities on stock exchanges
- Demat Account
- Dematerialized account held with a depository (NSDL or CDSL) for holding securities in electronic form
- Securities
- Includes equity shares, debt securities, derivatives, mutual funds, and other financial instruments traded on recognized stock exchanges
- Exchange
- Refers to NSE (National Stock Exchange), BSE (Bombay Stock Exchange), MCX (Multi Commodity Exchange), or any other recognized stock exchange in India
- Contract Note
- A confirmation of trades executed, issued as per SEBI regulations
- Margin
- Collateral required to be maintained for trading in derivatives and for taking positions on margin
3. Eligibility
To use our services, you must:
- Be at least 18 years of age
- Be a resident of India or a Non-Resident Indian (NRI) complying with applicable regulations
- Have the legal capacity to enter into a binding contract
- Possess a valid Permanent Account Number (PAN) issued by the Income Tax Department
- Complete the KYC (Know Your Customer) process as mandated by SEBI
- Not be a politically exposed person (PEP) unless additional due diligence is completed
- Not be prohibited or restricted from trading in securities by any regulatory authority
4. Account Opening and KYC
4.1 KYC Compliance
All clients must complete the KYC process by submitting:
- Proof of Identity (PAN card mandatory)
- Proof of Address (Aadhaar, Passport, Voter ID, etc.)
- Bank account proof (cancelled cheque or bank statement)
- Income proof (for F&O trading)
- Photograph and signature
- Any other documents as required by regulations
4.2 In-Person Verification (IPV)
As per SEBI requirements, in-person verification or video-based verification may be required for account opening.
4.3 Account Activation
Your account will be activated only after successful completion of KYC, receipt of all required documents, and approval by our compliance team. We reserve the right to reject any account opening application without providing reasons.
4.4 Information Accuracy
You are responsible for ensuring that all information provided is accurate, complete, and up to date. You must inform us immediately of any changes to your personal, financial, or contact information.
5. Trading Services
5.1 Scope of Services
We provide brokerage services for trading in:
- Equity Cash Segment (NSE, BSE)
- Equity Derivatives (Futures & Options)
- Currency Derivatives
- Commodity Derivatives (subject to regulatory approval)
- Mutual Funds distribution
- IPO (Initial Public Offering) applications
5.2 Order Placement
You may place orders through:
- Online trading platforms (web or mobile app)
- Phone calls to our authorized dealers
- Any other mode authorized by us
5.3 Order Execution
- We will use reasonable efforts to execute your orders but do not guarantee execution
- Orders are subject to exchange rules, regulations, and availability of counter-parties
- We may reject or cancel orders at our discretion for risk management or compliance reasons
- You are responsible for monitoring your orders and positions
5.4 Contract Notes
Contract notes will be issued within 24 hours of trade execution as per SEBI regulations. Contract notes will be sent to your registered email address. You must verify and report any discrepancies within 24 hours.
6. Charges and Fees
You agree to pay the following charges:
- Brokerage: As per the agreed rate schedule
- Transaction Charges: Levied by exchanges (NSE, BSE, MCX)
- GST: As applicable on brokerage and other charges
- SEBI Turnover Fees: As prescribed by SEBI
- Stamp Duty: As per state regulations
- Depository Charges: For demat transactions
- Delayed Payment Charges: 0.05% per day on debit balances
- Other Charges: As disclosed in the account opening form
All charges are subject to change with prior notice. Updated charges will be published on our website.
7. Margin and Risk Management
7.1 Margin Requirements
You must maintain adequate margin for all derivative positions as specified by exchanges and our risk management policies. Margin requirements may change based on market volatility.
7.2 Margin Calls
We reserve the right to request additional margins at any time. Failure to meet margin calls may result in liquidation of positions without prior notice.
7.3 Position Limits
You must comply with position limits set by exchanges and us. We may impose stricter limits based on our risk assessment.
7.4 Square-off / Liquidation
We reserve the right to square-off your positions without prior notice in the following situations:
- Margin shortfall
- Losses exceeding 50% of available funds
- End of day (EOD) automatic square-off for intraday positions
- Exchange-mandated square-offs
- Risk management requirements
- Non-payment of dues
Any losses arising from such square-offs will be borne by you.
7.5 No Client Funding
We do not provide funding or loans to clients. All trading must be done with your own funds or approved collateral.
8. Payments and Settlements
8.1 Fund Transfer
All fund transfers must be made from your registered bank account only. Transfers from third-party accounts will not be accepted.
8.2 Payout Requests
Payout requests must be submitted through registered email or mobile number. Payouts will be processed within 24 hours of request (subject to fund availability and working days).
8.3 Settlement Obligations
You are responsible for ensuring timely payment of settlement obligations. Failure to meet obligations may result in:
- Auction penalties by the exchange
- Delayed payment charges
- Trading restrictions
- Account suspension
9. Client Obligations and Responsibilities
As a client, you agree to:
- Provide accurate and complete information during account opening and updates
- Keep your login credentials confidential and secure
- Not share your account with any third party
- Monitor your account, positions, and statements regularly
- Report any unauthorized transactions immediately
- Comply with all applicable laws, regulations, and exchange rules
- Not engage in market manipulation, insider trading, or fraudulent activities
- Make timely payments for all dues and obligations
- Not hold us liable for losses arising from market movements
- Understand the risks involved in securities trading
10. Risk Disclosure
Trading in securities involves substantial risk and is not suitable for all investors. You acknowledge and accept the following risks:
10.1 Market Risk
Securities prices can fluctuate significantly due to market conditions, and you may lose your entire investment.
10.2 Liquidity Risk
There may be times when securities cannot be bought or sold at desired prices due to lack of liquidity.
10.3 Leverage Risk
Trading in derivatives with margin/leverage can amplify both gains and losses. Losses may exceed your initial investment.
10.4 Technology Risk
Trading platforms may experience technical issues, outages, or disruptions. We are not liable for losses arising from such events.
10.5 Regulatory Risk
Changes in regulations, policies, or tax laws may affect your investments.
10.6 No Guarantee
Past performance is not indicative of future results. We do not guarantee any returns or profits.
Important: You should carefully read the Risk Disclosure Document provided separately and seek independent financial advice before trading.
11. Account Closure and Termination
11.1 Voluntary Closure
You may close your account by submitting a written request. Account closure is subject to:
- Settlement of all pending obligations
- Closure of all open positions
- Payment of all dues and charges
- Return of all securities and funds
11.2 Termination by Us
We reserve the right to terminate your account with or without cause by providing 30 days' notice. Immediate termination may occur in case of:
- Breach of these Terms
- Fraudulent or illegal activities
- Regulatory action or prohibition
- Failure to pay dues
- Providing false information
11.3 Inactive Accounts
Accounts inactive for two consecutive years will be marked as "Inactive." Reactivation requires fresh KYC and documentation.
12. Limitation of Liability and Indemnification
12.1 Limitation of Liability
To the maximum extent permitted by law, we shall not be liable for:
- Any trading losses or investment losses
- System failures, technical glitches, or internet connectivity issues
- Delays in order execution or non-execution of orders
- Acts of God, force majeure events, or circumstances beyond our control
- Actions taken by exchanges, regulators, or depositories
- Indirect, consequential, or punitive damages
12.2 Indemnification
You agree to indemnify and hold us harmless from any claims, damages, losses, or expenses (including legal fees) arising from:
- Your breach of these Terms
- Your violation of any laws or regulations
- Unauthorized use of your account
- Your trading activities or investment decisions
13. Dispute Resolution and Arbitration
13.1 Grievance Redressal
For any complaints or grievances, please contact our Compliance Officer:
13.2 Escalation
If your complaint is not resolved satisfactorily, you may escalate to:
13.3 Arbitration
Any disputes arising from these Terms shall be resolved through arbitration as per the rules of the relevant stock exchange. The arbitration proceedings shall be conducted in English, and the seat of arbitration shall be in Coimbatore, Tamil Nadu.
13.4 Jurisdiction
Subject to the arbitration clause above, the courts in Coimbatore, Tamil Nadu, India shall have exclusive jurisdiction over any disputes.
14. Intellectual Property
All content on our website, trading platforms, and applications, including logos, trademarks, text, graphics, software, and other materials, are the intellectual property of Vajraaditya Ventures or its licensors. You may not:
- Copy, reproduce, or distribute any content without our written permission
- Modify, reverse engineer, or create derivative works
- Use our trademarks or branding without authorization
- Extract data through automated means (scraping, bots, etc.)
15. Amendments to Terms
We reserve the right to modify these Terms at any time. Material changes will be notified through:
- Email to your registered email address
- Notice on our website or trading platform
- SMS to your registered mobile number
Continued use of our services after such notice constitutes acceptance of the amended Terms. If you do not agree to the amendments, you should discontinue using our services.
16. Regulatory Compliance
We operate under the regulatory framework of:
- Securities and Exchange Board of India (SEBI)
- Stock Exchanges (NSE, BSE, MCX)
- Depositories (NSDL, CDSL)
- Reserve Bank of India (RBI) for foreign exchange regulations
- Prevention of Money Laundering Act (PMLA)
- Income Tax Act
You agree to comply with all applicable laws and cooperate with any regulatory investigations or audits.
17. Data Protection and Privacy
Your use of our services is also governed by our Privacy Policy, which explains how we collect, use, and protect your personal information. By agreeing to these Terms, you also consent to our Privacy Policy.
18. Communications
You agree that we may communicate with you through:
- Email to your registered email address
- SMS to your registered mobile number
- Phone calls for trade confirmations and margin calls
- Notifications on trading platform
- Physical mail to your registered address
It is your responsibility to ensure your contact details are up to date. Communications sent to your registered details will be deemed as received by you.
19. Severability
If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to reflect the parties' intention to the maximum extent permitted by law.
20. Entire Agreement
These Terms, together with the Privacy Policy, Risk Disclosure Document, and account opening documents, constitute the entire agreement between you and Vajraaditya Ventures regarding your use of our services and supersede all prior agreements and understandings.
21. Contact Information
For questions about these Terms or our services, please contact:
22. Acknowledgment and Acceptance
By opening an account with Vajraaditya Ventures and using our services, you acknowledge that:
- You have read and understood these Terms and Conditions
- You have read the Risk Disclosure Document
- You have read and understood the Privacy Policy
- You agree to be bound by these Terms
- You understand the risks involved in securities trading
- You are using our services voluntarily and at your own risk
- You have the financial capacity to bear potential losses
