PART B

APPLICATION FOR DERIVATIVES ENBALEMENT

(CUSTOMER COPY)

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 Version 26

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I-Sec may in its own discretion de register the client. The terms and conditions as specified in the client member Agreements/account
opening documents would be applicable.

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"This document is voluntary. Voluntary means that the document is not prescribed by Regulators, however the same is required by
ICICI Securities Limited for offering the 3 in 1 account i.e. seamless trading platform with integrated bank account, demat account
and broking account. If you do not wish to avail the services of ICICI Bank Limited and ICICI Securities Limited, you need not
execute such documents."

Date: any interest on the deposit/s for any period after

To, date/s of maturity of the deposit/s. l/We agree to
ICICI Securities Limited abide by the provisions of the Foreign Currency
Shree Sawan Knowledge Park, (Non-Resident)/-A/c., Non-Resident (External)
Plot No. D-507, T.T.C.Ind. Area, Account scheme, Non-Resident (Ordinary) Account
M.I.D.C., Turbhe, Opp. Juinagar scheme. l/We hereby undertake to intimate you
Railway Station, about my/our return to India for permanent
Navi Mumbai-400705. residence immediately on arrival.
ICICI Bank Limited 4. I/We authorize ICICI Bank to automatically renew the
ICICI Bank Towers deposit on the due date for an identical period
(unless otherwise specifically instructed before due
Bandra Kurla Complex,
date).The earlier receipt given to me will be treated
Mumbai 400 051.
as discharged receipt on due date.
Dear Sirs,
5. l/We understand that the interest applicable on
Sub: Opening of a integrated 3-1 Account for renewals will be at the applicable ruling rates on the
Investment & trading in securities, holding date of maturity and that the renewed receipt will be
Demater-ialized Securities, Insurance and other made available on my/our presenting the duly
financial products discharged original receipt on the maturity date or
I/We refer to my/our application for opening of later for payment. I/We further understand that the
integrated 3 in 1 Client Account (“Client Account”) renewal will be in accordance with the provisions of
with ICICI Securities Limited (hereinafter called the Reserve Bank of India Letter of Conformation
“ICICI Securities”) and integrating the trading scheme in force at the time of renewal.
account with ICICI Bank Savings/current account 6. I/We agree that the premature withdrawal is
with ICICI Bank Limited (as a Bank, hereinafter permitted at my/our request. The payment of
called “ICICI Bank”) and with the Demat account interest on the deposit may be allowed in
(Dematerialised account in Electronic Form) with accordance with the prevailing stipulations laid
ICICI Bank Limited (as a Depository Participant, down by the Reserve Bank of India in this regard.
hereinafter called “ICICI Bank”) (hereinafter called
7. I/We shall not make available to any person resident
“ICICI Bank”) and receipt of Right and Obligation
in India, foreign currency against reimbursement in
document, Risk Disclosure document, Policies and
Rupees or any other manner in India.
Procedures, Guidance Note and Rights and
8. I/We shall not make available to any person resident
Obligations of Beneficial Owner and Depository
in India, other than the Bank for conversion of my /
Participant.
our remittance/s from one currency to another,
In consideration of providing me Right and
either for booking of a deposit or for such other
Obligation document, Risk Disclosure document,
permissible purpose as permitted under the FEMA
Policies and Procedures and Guidance Note and
regulations, the currency conversion risk shall solely
Rights and Obligations of Beneficial Owner and
be borne by me/us.
Depository Participant, I/we hereby agree and
9. I/We would confirm that all debits to my/our
confirm that:
accounts for the purpose of investment in India and
I. Clauses specific to ICICI Bank Account:
credits representing sale proceeds of investments in
1. I/We hereby declare that I am/we are non-residents India are covered either by general or special
lndian(s) of Indian origin. Within the meaning of the permission of the Reserve Bank of India.
foreign exchange management(Deposit)
10. I/We hereby authorize , upon request , issuance of
Regulations and other applicable laws.
ATM Card and provision of Internet Banking
2. I/We understand that the above account will be Services and Phone Banking Services as above. I/We
opened on the basis of the statements/declarations undertake to ratify and confirm all that the user/(s)
made by me/us, and I/We also agree that any of the do/(es) or cause/(s) to do through ATM, Internet
statements/declarations made herein is found to be Banking Services and Phone Banking Services. This
not correct in material particulars, you are not bound authority shall continue to be in force until anyone of
to pay any interest on the deposit made by me/us. us revokes by a notice in writing delivered to you.
The account will be put into use for bonafide
11. Further, in case ICICI Bank issues the Debit cum ATM
transactions not involving any violations of the
Card for such account by default in future, l/we
provisions of any Government/Exchange Control
authorize ICICI Bank to issue an ICICI Bank Debit cum
Regulation or any other applicable law or regulation
ATM Card to me/us. I/We acknowledge that the
in force in India or any other jurisdictions to which I
usage of this card is governed by the terms and
am /We are subject.
conditions which are liable to be amended by ICICI
3. I/We agree that no claim will be made by me/us for Bank from time to time. l/We acknowledge that it is

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my/our responsibility to obtain a copy of and read the 20. If the instrument(s) for collection is/are
same. returned unpaid at any time, returning and other
12. l/We further unconditionally and irrevocably charges may be debited to my/our account.
authorize ICICI Bank to debit my/our Account 21. If any cheque/draft credited to my/our account
annually with an amount equivalent to the fee and provisionally prior to final realisation under your
charge for use of the debit card. l/We hereby confirm special cash letter services is returned unpaid, the
that this account will be operated singly and in case amount may be recovered from my/our account at
of Joint Account operated by either or survivor. the appropriate exchange rate along with interest
13. l/We confirm that the attached photograph(s) is/are applicable at such rates as may be decided by you.
the present true identities of me/us. l/\Ne authorize l/We undertake to refund the amount, if already
ICICI Bank to issue a Photo-Debit card to me/us. drawn by me/us, immediately on demand if our
14. l/We accept full responsibility to my/our debit card account does not have sufficient balance to recover
and agree not to make any claims against ICICI Bank the amount with interest and/or any other charges.
in respect there to. And that this condition applies in 22. The Terms and Conditions are as per current
addition to the Terms & Conditions of Debit Card- regulatory environment, the same are bound to
Member agreement which governs use of change without prior notice as per changes in the
my/ourcard(s). regulatory framework.
15. I/We have read and understood and hereby agree to ll. CLAUSES SPECIFICTO PINS
the “Terms and Conditions" as provided under I am/We are desirous of making investments in
www.icicibank.com in respect of all products and shares/debentures/mutual fund units/units of any
channels. I/We have read and understood and other collective investment scheme of Indian
hereby agree to the "Terms Er Conditions” relating to companies and/or India securities under the PINS.
Auto Invest. I/\Ne confirm that all debits to my/our accounts for
16. I/We understand that any changes in terms and the purpose of investment in India and credits on
conditions to this relationship would be made sales of Investments in India are covered either by a
available to me/us on request at any ICICI Bank general or a special permission ofthe Resen/e Bank
Branches. of India (RBI).
17. I/We hereby confirm that all accounts under this I/We hereby appoint ICICI Bank as designated bank
Customer ID are operated singly and in case of joint as provided in the PINS as required by the relevant
account operated by either or survivor/anyone or foreign exchange regulations to maintain my/our
sun/ivor(s). l/We do hereby declare that information investment accounts and to carry out investment
furnished in this form is true to the best of my/our transaction under my/our instruction/s. I/We declare
knowledge and belief. and agree that all my/our investment will be made by
18. I/We hereby authorize upon request issuance of me/us through ICICI Bank only in accordance with
ATM Card and provision of Internet Banking the scheme.
Services and Phone Banking Sen/ices as above. I/We hereby undertake that all investments/sales of
I/\Ne undertake to ratify and confirm all that the through PINS only. I/We hereby authorise ICICI Bank
user/(s) do/(es) or cause/(s) to do through ATM, to debit my/our bank Accounts for payment of
Internet Banking Services and Phone Banking purchase consideration including hank charges,
Services. This authority shall continue to be in force brokerage or any other expenses in relation to
until anyone of us revokes by a notice in writing maintain the above said PINS Account and in
delivered to you. settlement of claims arising from purchase/sale
19. I/We declare, confirm, agree: ofsecurities.
a. That all the particulars and information given in the Ill. I/We have not appointed and shall not appoint any
Application Form are true, correct, complete and up other bank/authorised dealer as a designated bank
to date in all respects and I/we have not with-held for the purpose of PINS.
any information. lV. I/We have furnished complete details of my/our
b. That I/we have had no insolvency initiated against investments in Indian Companies.
me/us nor have I/we ever been adjudicated Shares/debentures and securities as perthe PINS to
insolvent. enable the Bank to maintain proper investment
c. That I/we have read the application form and records on my/our behalf. I/\Ne hereby declare that
brochure and am/are aware of all the the same are true and correct and includes all the
terms/conditions of availing finance or service or purchases and sales of equity shares and
products from ICICI Bank. convertible debentures made me/us by the
d. That my/our loan/investment credit facility shall be designated branches in India through stock
governed by the rules of ICICI Bank, which may be in exchanges in India. I/We also certify that the
force from time to time. investments in each company by me/us does not
e. The Bank will not be responsible for any loss or exceed such permissible percentage of the paid UN
damage due to loss or miscarriage of the cheque(s) capital/each series of convertible debentures as per
or for any delay in collection, transmission and relevant regulations laid down by the appropriate
otherwise of any remittance howsoever caused. authorities from time to time.
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 l/We hereby undertake that I/\Ne will at all times violated any terms and conditions of PIS or any other
abide by all the regulations and norms specified by law or regulation/s without any further notice.
the Reserve Bank of India (RBI) and other 3. ICICI BANK'S DECLARATIONS, REPRESENTATIONS
regulatory authorities for investments by Non & UNDERTAKING:
Resident Indians (NRI) under the Portfolio ICICI BANK declares, represents and undertakes
Investment Scheme (PINS).I/\Ne shall be solely that:
responsible for ensuring compliance with the 3.1 It shall comply with instructions and procedures as
above regulations and norms I hereby agree to laid down by Regulatory Authorities for the PIS from
discharge the responsibility expected of me as a time to time.
participant under the scheme. 3.2 It agrees to maintain the portfolios of the client in the
I/We hereby declare that any transaction involving manner prescribed under the PIS.
foreign exchange hereunder shall not involve, and 3.3 It agrees to deduct tax at source (TDS) from any
shall not be designed for the purpose of any profits or gains arising from the sale of securities by
contravention or evasion of the provisions of the the Client under the head “CapitaI Gains" or any
Foreign Exchange Management Act, I999 (FEMA) or other statutory/ tax obligations prescribed from time
any rule, regulation, notification, direction or order to time by the Regulatory Authorities.
made thereunder. 3.4 It agrees to execute order/s of client in secondary
I/We confirm as follows:- market through a stockbroker as per PIS provided
ICICI BANK and the Client are desirous to define the such orders are received in the manner prescribed
allocation of duties and responsibilities between herein.
ICICI BANK and the Client respectively for 4. THE CLIENT’S DECLARATION & UNDERTAKING
PORTFOLIO INVESTMENT SCHEME (PIS) as per The Client declares, represents and undertakes that:
Reserve Bank of India‘s regulations and as per the 4.1 He has complied with or agrees to comply with all
Terms and Conditions of PIS and in pursuance of the statutory formalities under the PIS from time to time.
same, ICICI BANK and the Client have agreed as 4.2 He will execute the orders in secondary market only
under. through ICICI BANK, which is the Designated Bank
1. In this Agreement unless the context otherwise for the scheme.
requires, the following expressions shall have the 4.3 He agrees to execute a power of attorney in favor of
meaning assigned to them: ICICI BANK to do all such acts, deeds and things as
a. "PIS" means a scheme or schemes from time to time may be necessary for or incidental to his becoming
formulated by the Reserve Bank of India for Non clients of PIS.
Resident Indian (NRI)/Overseas Corporate Bodies 4.4 He agrees:
(OCBs). a. To submit original certificate of securities along with
b. "Regulatory Authorities" means and includes the signed transfer forms to ICICI BANK while
Reserve Bank of India, Securities and Exchange placing sales order. In the event securities held in
Board of India, Income Tax Department, physical form.
Government of India and/ or any other authority b. To submit debit authority form supplied by their
appointed by the Indian Government from time to Depository Participant through ICICI Securities
time to regulate and control PIS. Limited in case of sale of scrips in dematerialized
c. “Stock Broker" means a memberofa stock exchange. form, to ICICI BANK along with the sale order. The
d. "Designated Bank" means the bank including its debit authority should reach PIS Cell three days prior
branch where the Clientis availingfacility to the payout day on the exchange concerned, with
underPIS. reference to the settlement period/ No. during which
e. “Securities" means and includes all kind of the transaction is concluded. PIS Cell will forward
shares/scrips/debentures/units of mutual funds or the debit authority form/s to the concerned
any instrument added by the Regulatory Authorities Depository Participant only if located in Mumbai.
from time to time. The Client should carefully fill in all the requisite
f. "Depository Participant (DP)" means a person details in the debit authority form supplied by his
defined as such under The Depositories Actl996. Depository Participant to ensure proper delivery is
g. "lnfinity" is the trade name of the Bank Internet affected in time. ICICI BANK does not assume any
banking sen/ices. responsibility in this connection.
2. APPOINTMENT: c. To place purchase orders only if ICICI BANK can
The Client hereby appoints ICICI BANK as a earmark sufficient balance covering the purchase
Designated Bank for the PIS and ICICI BANK hereby consideration of securities and other applicable
accepts such appointment on the terms set out charges in the Client's Bank account.
hereinafter. The activities of ICICI BANK pertaining to d. To ensure before placing /conveying sale orders that
the ongoing issue under this Agreement are they actually hold free shares (shares pending
hereinafter referred to as "the Assignment". demat or locked/pledge are not free shares).
ICICI BANK reserves the right to annul its e. To report to ICICI BANK all transactions done directly
appointment as a Designated Bank under this through other stockbrokers on the same day of
agreement if at any time in its opinion the Client has execution in the format prescribed or format that
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Conformation (Continued) by ICICI BANK aIong with repatriation basis. This undertaking will also be
original stockbroker contract note/s. binding on the Client's heirs, executors, successors
f. To send all payment instruments (cheque/DD etc.) and assigns and they will not be entitled to seek
received from a stock broker on account of sale of repatriation of any capital so invested by the Client or
securities to ICICI BANK for crediting in appropriate any income earned thereon;
account along with complete details of his account 5. The Client shall inform the bank the nature of all
and the transaction in the format prescribed or shares (Rights/ Bonus / IPO’s etc.) purchased or sold.
which may be prescribed from time to time by ICICI The Bank may report to the RBI only those shares
BANK. acquired under PIS through secondary markets.
g. To send details of all payment instruments 6. The Client agree to adhere to the RBI guidelines
(cheque/DD etc.) sent to a stock broker on account of restrictions on purchase of shares (check site
purchase of securities to ICICI BANK along with the www.rbi.org.in). The Client understands that if by
details of the securities purchased in the format oversight, the Client purchases share banned by RBI
prescribed or which may be prescribed by ICICI for purchase by NRl's, the Client shall arrange to sell
BANK from time to time. the same immediately and losses, if any on account
h. Not to enter into any contract for sale either directly of such transactions will be borne by the Client.
through a stockbroker or through ICICI BANK in 7. Payments for shares/ receipts from the broker on
respect of any securities, which he has not taken account of sale of shares will be made against the
delivery of. amounts specified on the bills and no adjustment of
I. All Investments made from NRE account will be purchases against sale transactions will be done
considered to have been made on repatriation basis even if various sale and purchase transactions are
and all investments made from NRO account will be doing during the same period. In understood that no
considered to have been made on non repatriation NET Credit / Debit for the day transactions shall be
basis unless otherwise mentioned. permitted. All individual transactions in the PIS
5. FEES AND CHARGES OF ICICI BANK: accounts shall be reflected at their full value.
The Client agrees to pay to ICICI BANK fees as per III. GENERAL
schedule of charges of ICICI BANK from time to time 1. The Client may send the instructions, duly signed, by facsimile
for the services provided under PINS. The Client message forsake of his/herconvenience. ICICI BANK agrees to
shall also pay/reimburse all expenses incurred by act upon such instructions entirely at Client's risks and
ICICI BANK and in giving effect to the instructions of consequences and on the terms and conditions appearing
the Client. It is agreed that ICICI BANK may recover hereunder:
such charges by debit to the account ofthe Client. 2. The client agrees that ICICI Bank shall be at liberty to and not
6. LIABILITIES: bound to accept and act up on all or any of the instructions
A. INVESTMENT RELATED pertaining to PIS sent by facsimile to ICICI Bank.
1. The Client is fully aware that shares or convertible 3. The Client is aware that facsimile mode of sending instructions
debentures purchased by the Client under the PIS, is not a safe and secure mode of sending instructions and the
can not be sold other than the PIS route, without the Client agrees and understands that ICICI BANK has agreed to
prior Reserve Bank of India (RBI) Approval; act upon his instructions by such mode entirely at his risks.
2. The Client shall not without prior approval from RBI, Such risks may include but will not be limited to the following:
transfer by way of gift or sale under private I. The instructions may be fraudulently written or altered.
arrangement the PIS holding or create any pledge on ii. The instructions may reach ICICI BANK in jumbled state or in a
any of his securities held under PIS; manner or shape that it may be misunderstood.
3. The Client agrees that in case of any mismatch in the
iii. The instructions may not be received by ICICI BANK or the
disclosure of the number of shares that are
facsimile machine may be unattended to at the time of receipt
purchased or sold, ICICI Bank may at it's sole
of instructions and/or may be received by ICICI BANK only
discretion debit the Client's PIS account to the extent
partially.
of the balance of shares standing to his credit. The
Client further declares that, ICICI Bank shall not be iv. There may be a mistake in understanding the message
liable for any losses that the Client may suffer on 4. The Client agrees and understands that ICICI BANK shall act
account of ICICI Bank rejecting any transaction on upon the instructions sent by the Client by facsimile only if in
account of such mismatch. The Client further agrees the opinion of the concerned officer of ICICI BANK such
that an event of mismatch gives ICICI Bank a right to instructions are clear and unambiguous. The decision of the
suspend or cancel the Client's PIS account without officer of ICICI BANK, whether any such instructions are clear
any notice. A mismatch is said to have occurred and unambiguous or not and all actions of ICICI BANK thereof
when a transaction indicates quantity of shares in shall be conclusive and binding on the Client. This clause shall
excess of the quantity held in the Client's PIS not preclude ICICI BANK from exercising its absolute
account. discretionto act or not to act on any or all the instructions.
4. The Client agrees and undertake that the Client will 5. All instructions by facsimile and the action of ICICI BANK there
not at any time seek repatriation of the capital upon shall be subject to the normal business and working
invested or of the income earned thereon in respect hours of ICICI BANK as applicable to the relevant kind of
of purchases of shares/debentures made on non instructions.
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6. The Client further agrees that he shall not hold ICICI BANK or FEMA120/RB-2004 dated July 7 2004, as amended from time
its officers and employees liable for any omission to act to time.
upon any instructions sent by facsimile due to any reason v. The FEMA provisions shall not apply to the holding of the
whatsoever. letter of Conformation (Continued) The Client underlying shares, on redemption of IDFls by the Flls including
confirms that ICICI BANK is authorised to debit his account SEBI approved sub-accounts of the Flls and Nrls.
with amounts pursuant to any instructions sent by facsimile 14. The Client may send the instructions through secured email
under the facility agreed herein notwithstanding any other under Infinity as per prescribed formats for his convenience.
requirement contained in any law and practice including but ICICI BANK agrees to act upon such instructions entirely at the
not limited to the Negotiable Instrument Act, 1882. Client's risks and consequences. D. The Client specifically
7. The Client agrees to send the original hard copy of the agrees to hold ICICI BANK harmless from any and all claims
message sent earlier via facsimile with in a reasonable time to and agrees that ICICI BANK shall not be liable for any loss,
ICICI BANK. Client further agrees that in the event that ICICI actual or perceived, caused directly or indirectly by equipment
BANK has not acted upon the instructions received from the failure, communication line e, system failure, internet failure,
Client‘s facsimile message on account of any or all reasons securities failure on the internet, unauthorized access or any
mentioned above, ICICI BANK shall act on such message only other problem technological or otherwise, that might the
if in the judgment of ICICI BANK, such action is in the interest prevent the Client from entering or ICICI BANK from executing
of the Client and in fulfillment of his instruction. an order or other conditions beyond ICICI BANK's control.
8. The Client agrees to be bound by all otherterms and conditions NOTICE: Any notice to ICICI BANK shall be served at the
of ICICI BANKas applicablefrom timeto time. following address or such other address as may be specified
9. NRls are not allowed to invest in any company which is from time to time:-
engaged or proposes to engage in thefollowing activities: Officer in Charge, PIS, (NRI Services Centre), ICICI Bank Ltd.,
I. Business ofchitfund,or 215, Free Press House, Nariman Point, Mumbai - 400021.
ii. Nidhi company, or 15. JURISDICTION: This Agreement shall be construed in
iii. Agricultural or plantation activities, or accordance with the laws of India and shall be subject to the
iv. Real estate business* or construction of farm houses, or exclusive jurisdiction of the courts of Mumbai only.
v. TradinginTransferable DevelopmentRights(TDRs). Please note that this clause is not applicable to Trading
*Real estate business" does not include construction of Account.
housing / commercial premises, educational institutions, 16. TERMINATION: This Agreement to the extent of clauses
recreational facilities, city and regional level infrastructure, applicable to ICICI BANK may be terminated by the respective
townships parties hereto giving to the other not less than 30 days prior
10. The sale proceeds of the repatriable investments can be written notice. ICICI BANK and the Client will be liable in
credited to the NRE/NRO etc. accounts of the NRI/PIO respect of their actions during the subsistence of this
whereas the sale proceeds of non-repatriable investment can Agreement even after the Agreement lapses. Provided,
be credited onlyto NRO accounts. however, that the right of any party to prefer a claim will be
11. The sale of shares will be subject to payment of applicable subject to the law of India relating to limitations.
taxes. 17. CHANGES/AMENDMENTS: ICICI BANK reserves the right to
12. Investments by all NRls in Rupee denominated Perpetual Debt change/amend/alter any of the provisions of this agreement 6'
instruments (Tier I) should not exceed an aggregate ceiling of after giving due notice to the Client.
24 percent of each issue and investments by a single NRI 18. FORCE MAJEURE: Neither Party shall be under any liability for
should not exceed 5 percent of each issue any delay, loss or damage caused by any Act of God, 7'
13. NRI and SEBI registered Flls have been permitted to invest, governmental restriction, condition or control or by reason of
purchase, hold and transfer lDRs of eligible companies any other act, matter or thing beyond its reasonable control.
resident outside India and issued in the Indian capital market, 19. “ I/we understand that I/we would be solely responsible for
subject to the following conditions: intimating ICICI Bank in case I return to India with the intention
I. The purchase, hold and transfer of lDRs is in accordance with to stay in India for an uncertain period of time and become a
the Foreign Exchange Management (Transfer or Issue of resident. It will be my/our sole responsibility to close/convert
Security by a Person Resident Outside India) Regulations, my NRI account and also cancel my PINS approval in case I
2000 notified vide Notification No. FEMA 20/ 2000-RB dated become a resident of lndia.
May 3, 2000, as amended from time to time. 20. I/We declare that all particulars and information given in the
ii. Automatic fungibility of lDRs is not permitted. application are true, correct complete and upto date in all
iii. lDRs shall not be redeemable into underlying equity shares respects and I/We have not withheld any information.
before the expiry of one year period from the date of issue of 21. I/We agree and confirm that I/we have read the terms and
the lDRs. conditions of the account facility and the terms and conditions
iv. At the time of redemption / conversion of lDRs into the pertaining to usage of channels for access of the said account
underlying shares, the Indian holders (persons resident in facility as put up on www.icicibank and am/are aware of and
India) of lDRs shall comply with the provisions of the Foreign will adhere to all the terms/conditions of opening/ maintaining
Exchange Management (Transfer or Issue of Any Foreign of the said account and usage of the channels with / by ICICI
Security) Regulations, 2004 notified vide Notification No. Bank Ltd as may be in force from timeto time.

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22. I/We further declare that I/We have read and are/ am aware issue arising hereunder shall be governed by and construed
of and will adhere to the rules of the Depository in relation to exclusively in accordance with the Indian laws. The issues,
maintenance and operation of the account. I/We understand other than those pertaining to transactions executed on the
that certain particulars given by me/us are required by the Stock Exchanges, shall be subject to the jurisdiction of the
operational guidelines governing banking companies. courts of Mumbai in lndia.
23. I/We understand that ICICI Bank Ltd/Group Companies/ 34. I, hereby, declare that the particulars given above are correct
Agents reserve the right to reject any application without and complete. If the action is delayed or not effected at all for
providing any reason. reasons of incomplete or incorrect information, I would not
24. I/We further declare and confirm that the credit facilities, if any, hold the user institution responsible.
enjoyed by me/us with other banks has been disclosed herein 35. I/We agree that any false/misleading fact will render my/our
above. account liable for termination and further action. I/\Ne also
25. I/We authorize ICICI Bank Ltd./ its Group Companies or their Letter of Conformation (Continued) hereby agree to indemnify
agents to make references and enquiries in respect of the ICICI Securities Limited ll-Sec) and ICICI Bank Limited and their
information required by the application form which ICICI Bank assigns if any of the representation and declaration made
Ltd/its Group Companies Agents consider necessary hereunder by me/us is incorrect, false or misleading in any of
26. I/We undertake to inform ICICI Bank Ltd./Group its particulars.
Companies/Agents regarding change in my/our 36. I/We agree that I-Sec, ICICI Bank (orany of its assigns) and
residence/employment/contact no. and email id and to their affiliates will not be liable for any consequential,
provide any further information that ICICI Bank Ltd./Group incidental, special, or indirect damage [including lost profits,
Companies/Agents may require. trading losses and damages) that result from:
27. We, the joint applicants hereby confirm that we have a. inconvenience, delay or loss of the use of the Service even if l-
instructed and authorised the first applicant to view/access Sec and ICICI bank (or any of its assigns) and their affiliates
the information on the said account for and on behalf of all of have been advice of the possibility of such damages.
the undersigned and under our specific instructions as stated b. cause over which they do not have direct control, including but
in this letter. We hereby state that should we wish to revoke not limited to the failure of electronic or mechanical equipment
the above authorisation, we shall duly issue a letter of or communication lines, telephone or other interconnect
revocation to ICICI Bank in this regard. We hereby agree that problems (e.g. if I am/\Ne are unable to access I-Sec and ICICI
until ten days after ICICI Bank receives such letter revoking the Bank or online service provider), unauthorized access, theft,
above mandate, the authorisation as aforestated shall hold operator errors, severe weather, earthquakes, floods and
good. strikes or other labor problems.
28. I/We have read and understood all rules and regulations which 37. I/we declare and confirm that I/\Ne are not member(s) of the
are in force, now pertaining to the Scheme of Investments in National Stock Exchange of India Ltd. or The Stock Exchange,
Shares/debentures of Indian Companies and other securities Mumbai. I/\Ne undertake that we shall not execute trades
in India by Non-Resident Indians and Persons of Indian Origin through ICICI Securities Ltd. on NSE or BSE if I/\/Ve become
under Foreign Exchange Management Act, I999. member of the respective stock exchange/s.
29. Kindly record the bank account details for receiving 38. Bank shall the right and authority to carry out investigation and
dividend/interest and the RBI Reference No. and Approval seek information from the government/local authorities/credit
Date as per the details specified by mo/us (or generated by bureaus/agencies etc.
ICICI Bank as per my/our request) for the corresponding 39. Bank may use my/our information to administer my/our
trading account on the 3-in-1 lClCldirect.com account opening account and for other business purpose including credit,
form. I/\Ne hereby also authorise ICICI Bank Limited to debit all address verification or anti money laundering purposes.
charges in respect of the Demat Account payable me/us to the 40. Bank and/or its affiliates/group, to disclose at any time and for
above mentioned account. any purpose, any information whatsoever relating to my/our
30. I/We undertake that sufficient balances shall be maintained by personal data and sensitive personal data, accounts,
me/us shall in no any way impair the right of the Bank to debit transactions or dealing with the Bank to any of the selected
the Service Charges. entities, where ever located for the purpose of administration
31. I/We hereby further authorise the Bank to the charge interest, of my/our account and facilities extended to me/us hereunder
at the prevailing commercial rate, on overdrawn balances in or otherwise as also to any national or local government or
the Said Accounts) due to the debiting of Services Charges. regulatory or statutory or judicial or quasi judicial authorities
32. The Bank shall not be obliged to provide overdraft facility on and any agent or contractor engaged to perform
the Said Account except those arising out of debit of Sen/ice sen/icesforthe bank‘s benefits.
Charges payable by me/us. I/We hereby undertake to remit the 41. I/we agree and understand that I/we have to complete further
amount of debit plus the interest within I5 days of being application for specific liability products/services from ICICI
notified about the same. I/we also authorise the Bank to Bank Ltd/its Group Companies, as prescribed from time to
arrange to exercise a lien over the dematerialized shares till the time, and that such further application shall be regarded as an
dues are remitted in full by me/us. I/we hereby undertake not integral part of this application land vice versa), and that
to revoke this authority without the written approval from the unless otherwise disclosed in such further forms as
Bank. prescribed, the particulars and information set forth herein as
33 I/We hereby specifically agree and confirm that any matter or well as the documents referred or provided herewith are true,
20
correct, complete and up-to-date in all respects. I/we agree and Letter shall be construed in a manner so as to restrict the right
understand that such further application will require of ICICI Securities Limited and ICICI BANK to initiate any action
incorporation of the application form number, and/or such jointly.
details as ICICI bank may prescribe, to facilitate data 49.The Client shall be entitled to operate his Bank
management. A c c o u n t ( r e f e r r e d t o a s “ We b B a n k i n g
42. I/we agree and understand that ICICI Bank Ltd./its Group Account/Service” or “Bank Account”) though the
Companies reserve the right to retain the application forms, use of Web Banking service offered by ICICI Bank,
and the documents provided therewith, including which may be withdrawn at any time at the sole
photographs, and will not return the same to me/us. discretion of ICICI Bank.
43. l/We agree and confirm that I/we have read the terms and 50. ICICI Bank shall endeavor to provide the Client
conditions of the account facility, and the terms and conditions through Web Banking, services such as balance
pertaining to usage of channels for access of the said account enquiry for his Bank Account, transaction details,
facility as put up on www.icicibank, statement of Bank Account, cheque-book request,
www.icicisecurities.com and request for transfer of funds between accounts of
http://secure.icicidirect.com/nri/tnc.htm the same Client and such other facilities as ICICI
Bank may decide to provide from time to time.
a. Web based brokerage transaction on lClCldirect,
These facilities shall be offered in a phased manner
b. Use of web banking service,
at the discretion of ICICI Bank. ICICI Bank may also
c. Use of Debit cum ATM card, make additions/deletions to the services offered
d. Mobile Banking sen/ice of ICICI Bank through Web Banking at its sole discretion. The
e. Transaction in dematerialized securities availability/non availability of a particular service
f. Portfolio lnvestment Scheme, shall be intimated to the Clients though e-mails
g. Online investing in Mutual Funds, and/or web page of ICICI Bank or may be displayed
h. CallNtrade facility, on the Website.
i. Portfolio Alerts Facility and other terms and condition. 51. ICICI Bank shall take reasonable care to ensure
44. I/we aware of Charges Applicable as set forth and that I/we security of and prevent unauthorised access to the
agree on my/our own behalf, or as the mandate holder on Web Banking Services, using technology,
behalf of the joint account holders, and will adhere to all the reasonably available to it.
terms/conditions of opening/ applying/ availing/ 52. ICICI Bank shall allot to the Client the Client Identifi-
maintaining/operating (as applicable) for usage of the said cation and secret passw-ords or require the usage
account facility as may be in force from time to time. I/we of digital signatures while opening his Bank
further authorize ICICI Bank Limited/ ICICI Securities Limited to Account. The Client will be required to change the
debit my Account(s) towards any Charges for the above passwords assigned by ICICI Bank on accessing
Services. Web Banking for the first time. ICICI Bank will not
45. It shall be my/our responsibility to educate myself/ourselves be liable in any case wherein the Client has not
and to comply at all times with all relevant laws, regulations changed the passwords after he has first been
issued to them. As a safety measure the Client
and rules applicable to my/our use of product and services
shall change the passwords as frequently
offered by the Bank or its subsidiaries, affiliates or group and
thereafter as possible.
for reporting or filing requirements that may apply as a result of
53. The Client shall at all times comply with such
my/ourcountry ofcitizenship,domicile andresidence.
directi-ons/instructions as may be issued by ICICI
46. In case of Bangladesh or Pakistan's Citizens, l/\Ne have Bank, including but not limited to the maintenance
obtained specific approval from the Reserve Bank of India to of a minimum balance in the Bank Account,
open the account for Non Resident Indians and a copy of the payment of service charges, etc. ICICI Bank may, in
same has been submitted along with my/ourapplication form. its sole discretion, levy penal charges for non-
47. I/We declared and confirm that l/\Ne are not and authorize mainte-nance of the minimum balance as
representative or employee of another trading member l/We stipulated from time to time. Any change in the
undertake that we shall not execute trades through lClCl fees shall be notified on ICICI Bank’s website. The
Securities on NSE or BSE if l/We become an employee of Client authorizes ICICI Bank to recover all charges
another trading member unless we provide a written consent related to Web Banking as determined by ICICI
of such employing trading member to I-Sec. ICICI Bank shall Bank from time to time by debiting the Client’s
have the right of set-off, irrespective of any other lien or Bank Account.
charge, present as well as future, on the deposits held in the 54. All transaction to be executed through the Web
Clients Bank account(s) and other deposits, whatsoever, to Banking Service shall be subject to the availability
the extent of all outstanding dues to ICICI Bank, howsoever, of sufficient funds in the Bank Account of the Client
arising. and ICICI Bank shall not be liable for any omission
48. The Client agrees that ICICI Securities Limited and ICICI BANK to make all or any of the payment or for late
may enforce any of the rights, duties and obligations arising payment due to circumstances beyond the
under this Letter or any related document including the Power reasonable control of ICICI Bank.
of Attorney either jointly or independently, and nothing in this 55. The Client shall be responsible for the accuracy of
information supplied to ICICI Bank through the
21
use of Web Banking or through any other means such as 60. The Client acknowledges that the software
electronic mail or written communication. ICICI underlying the Web Banking Service as well as
Bank accepts no liability for the consequences other Internet related software which are required
arising out of erroneous information supplied by for acc-essing Web Banking are the legal property
the Client. If the Client suspects that there is an of the respective vendors and the Client shall not
error in the information supplied to ICICI Bank by attempt to modify, translate, disassemble,
him or notices an error in the information supplied decompile or reverse engin-eer the software
to him through Web Banking then he shall intimate underlying the service. The permission given by
ICICI Bank as soon as possible and ICICI Bank shall ICICI Bank to access Web Banking shall not convey
endeavor to correct the same, wherever possible, any proprietary or ownership rights in the above
on a ‘best efforts’ basis. software.
56. The Client shall be liable for any loss caused to 61. The Client expressly authorizes ICICI Bank to block
ICICI Bank due to any unauthorised transactions in the amount required to settle the obligations of
the Web Banking Account if the Client has the Client against the desired limits and in case of
breached any of the terms of usage of Web the execution of the order, either in part or in full
Banking or contributed or caused the loss in any debit the Client’s Bank Account to the extent
manner. Provided that nothing contained herein necessary to settle the obligations and credit ICICI
shall be construed in such a manner so as to hold SECURITIES Account. The Client agrees that
the Client liable for any unauthorised transactions Client shall not be permitted to withdraw, issue a
occurring through the fraudulent or negligent cheque or otherwise use the blocked and/or
conduct of employees of ICICI Bank. allocated funds in his Bank Account. ICICI Bank
57. ICICI Bank shall under no circumstances be held reserv-es all its right to dishonour their
liable by the Client in case of Web Banking access instruction/cheque that may be issued against the
not being available in the desired manner for blocked amount. The Client also understands &
reasons including but not limited to natural agrees that blocking of funds against their order
calamity, floods, fire and other natural disasters, will be given priority over all other instructions or
legal restraints, faults in the telecommunication cheques given by either the Client or his
netw-ork or Internet or network failure, software or authorized representative.
hardw-are error or any other reason beyond its 62. The Client agrees that ICICI Bank may prescribe
control. Under no circums-tances shall ICICI Bank certain additional terms and conditions for the
be liable for any damages whatsoever whether purpose of offering Web Banking service and that
such damages are direct, indirect, incidental, the Client can utilise such service only after he
consequential and irrespective of whether any agrees to abide by all such terms and conditions.
claim is based on the loss of revenue, investment, 63. I understand that Passbook facility is available for
production, goodwill, profit, interruption of Savings Bank account free of charge and can be
business or any other loss of any character or requested at any ICICI Bank Branch.
nature whatsoever and whether sustained by the 64. Further for Salary Account
Client or any other person. (a) I have also read and understood "Terms and
58. The Client agrees that the Bank or its Conditions" under which salary account is offerred
representatives/contr-actors may hold and to my organisation and its employees as set forth
process Information pertaining to the Client on on the website www.icicibank.com
computer or otherwise in connection with Web (b) I (Primary A/c holder) agree that my employer has
Banking service as well as for statistical analysis full right to reverse an instruction given by them to
and credit scoring. The Client also agrees that ICICI credit my/our account for any amount and I and/or
Bank may disclose, in strict confid-ence, to other the joint account holders, will not dispute or hold
institutions, such Client Information as may be the bank responsible for any such debits in my/our
reasonably necessary for reasons inclusive of, but account. For this purpose the entity/organization
not limited to, the following: from whom the last salary credit has been received
(a)For participation in any telec-ommunication or shall be considered as the employer.
electronic clearing network; (c) I understand that it is my responsibility to inform
(b)In compliance with a legal directive; ICICI Bank immediately on termination of my
(c)For credit rating by rec-ognised credit scoring employment with my employer. The benefits
agencies; and/or applicable to the Salary stand to be modified in
(d)For fraud prevention purposes. case of any change in employment status. The
59. ICICI Bank shall have the right of set-off, joint A/c holders agree to these terms and will not
irrespective of any other lien or charge, present as dispute the same due to change in employer status
well as future, on the deposits held in the Client’s of the Primary A/c holder. I undertake to
Bank account(s) and other deposits, whatsoever, immediately inform ICICI Bank vis a vis any change
to the extent of all outstanding dues to ICICI Bank, of employment status and authorize ICICI Bank to
howsoever, arising.

22
change my/our employer details based on such conditions, indemnities, representations or terms, express or implied
information being received from me or my as to any matters, including but not limited to accuracy, security,
employer/s or otherwise. availablity, satisfactory quality for any particular purpose with respect
to these services. ICICI Bank is incorporated in india and regulated by
(d) If no salary credits are made in the account, ICICI
the Reserve bank of India (”RBI”) and maintains its corporate office in
Bank reserves the right to change / close the status Mumbai, India. Products and services mentioned gerein are provided
of the salary account to ICICI Bank savings account by ICICI bank and /or its affiliates/group compaines and are subject to
without any intimation to the accountholder and product/service specific terms & conditions.Please familiarize yourself
the terms and conditions as applicable to ICICI with the terms & conditions applicable available at
Bank Savings account shall apply to this account www.icicibank.com.the products and services mentioned are also
from the date of change of status. subject ti RBI & SEBI rules I regulations prevailing exchange control
65. I have received a copy of the tariff guide / schedule regulations and/or other applicable laws. Any references to timelines
of charges. I have read and understood the or service levels are only indicative and should not be construed to
contents of the brief schedule of charges provided refer to any commitment by ICICI Bank or its affiliates/ group
companies or any other service provider. The service levels are subject
in Tariff guide and detailed schedule of charges as
to variations depending on several factors, including without
set forth on the website www.icicibank.com and limitation, the clearinghouse network, the other service provider etc.
agree to abide by the same, subject to changes The information provided herein is not intended nor should it be
from time to time. construed to represent that ICICI Bank is soliciting. The information
provided herein is not intended for distribution to, or use by, any person
Definitions: in any jurisdiction where such distribution or use would be contrary to
Politically Exposed Persons (PEPs): Politically exposed law or regulation and are subject to change without prior notice. ICICI
Bank and the “I man” logo are thetrademerks and property of ICICI
persons are individuals who are or have been entrusted with
Bank. Depending on your current or permanent country of residence
prominent public functions in a foreign countw. some of the products and services might not be available to you.
Examples of PEPs include, but not limited to: (i) Heads of
States or of Governments (ii) Senior politicians (m) Senior IV. CLAUSES SPECIFIC TO OPENING OF
government/judicial/military officers (iv) Senior executives of TRADING ACCOUNT WITH ICICI
state- owned corporations (v) Important political party SECURITIES LTD.
officials (vi) SeniorIndian Diplomatic personnel posted outside 1. I/We (hereinafter referred to as “the Client”) shall
the country. The term PEP also includes the families and close be entitled to transact in such Investment &
associates of the PEPs mentioned above. Insurance Products as are introduced on
Families: The term families includes close family members www.icicidir-ect.com (“the Website”), the Website
such as spouses, children, parents and siblings and may also maintained by ICICI Sec-urities.These transactions
include other blood relatives and relatives by marriage. shall include but shall not be limited to
Close associates: The term closely associated persons in the transactions for the purchase or sale or an order
context of PEPs includes close business colleagues and for the purchase or sale of or an application for any
personal advisors/ consultants to the PEP as well as persons offer or public issue of shares, scrips, stocks,
who obviously benefit significantly from being close to such a bonds, debentures, units of any Mutual Fund or
person. PEPs also include persons who are not currently falling any other security or financial instrument,
under the above criteria but were doing so at any given point in derivatives or contracts in derivative admitted for
time within the last one year. trading on the Derivative Market Segment of the
The Bank is authorised to arrange a correspondent bank/agent Exch- ange, Small Savings Schemes, Bonds, Fixed
for realising the proceeds offoreign currency cheques. Deposits, Public Provident Fund and Insurance
Disclaimer: policies, whether life or general or otherwise, or
ICICI Bank Limited ‘s Bahrain Branch (”Bahrain Branch”) Is a financing on referral basis credit / loan facili-
Conventional Retail Bank Licensee, duly regulated by the Central Bank ty(whether secured or unsecured) or such other
of Bahrain, located at Manama Centra, Manama, P.O Box-1494 products or services that ICICI Securities may in its
Baharain. Please note that the central bank of Bahrain does not take absolute discretion introdu-ce or offer from time to
responsibility for the financial soundness of te product and / or the time (hereinafter referred to as “Investment
underlying or for the correctness of any statements made or expressed Products”).
in relation thereto. Such products (offered in Indian Rupee V. CLAUSES SPECIFIC FOR DEALING WITH
denomination only) are not covered under the Deposit Protection REGIS-TERED INTERMEDIARIES (SUB
Scheme, applicable in the Kingdom of Bahrain or in any other booking
center of the bank. In case of any doubt regarding the suitability of the
BROKERS / AUTHO-RISED PERSONS)
product and any inherent risks involved for specific individual 2.A.1. I/We am/are desirous of availing broking services
circumstance, please contact your own financial adviser. This through the duly registered intermediary (Sub
information is provided by Bahrain Branch Office of ICICI bank Limited. Broker / Authorised Person) affliated to ICICI
The product and services mentioned herein are provided from the Securities Limited.
offices of ICICI bank Limited, India (”ICICI Bank”) and/or its affiliates 2. A.2 All references herein below my/our interaction
outside the Bahrain. Bahrain Branch merely acts as a distribution with I-Sec, Unless mentioned other wise will be
agent of this products/services and shall not be responsible or liable for deemed to be through the registered intermediary
any miscommunication or loss. Bahrain Branch is not involved in any
only, till such time as I/we opt to be the direct client
way in deciding whether your application for this products/service
would be accepted / sanctioned. Bahrain Branch makes no warranties,
of ICICI Securities Limited

23
2.A.3 I/We are desirous of participating in the trading & user id and password to view the transactions to
investment facility offered by ICICI Securities “off line clients”
Limited through its registered intermediary and 2.B.1 The Client shall choose a password that shall be at
hence I/ we confer such authority to the registered least 8 characters long (or as otherwise specified
intermediary to do various acts in relation to the by ICICI Securities and shall at all times keep the
aforesaid accounts in order to give effect to the Client-identification and password confidential.
instructions of and other terms of the 2.B.2 At such time and within such period as ICICI
documentation executed by me/ us with ICICI Securities may require, the Client shall obtain and
Securities, ICICI Bank (as a Bank) and ICICI bank (as maintain during the term of this Letter, digital
a Depository Participant). I agree and undertake signatu-res, which would aid and assist the Parties
that dealings undertaken on my behalf by the and the Client to authenticate all or any electronic
registered intermediary would be in the nature of transactions made through the Website. The Client
offline trading and only the registered shall be responsible for keeping the Client id and
intermediary would be entitled to transact through password and/or digital signature confidential and
ICICI Securities website including giving orders secure and shall be solely responsible for
and instructions to ICICI Securities and receive transactions that are viewed using the password
confirmations regarding the transactions and/or digital signature whether or not such
executed through ICICI Securities Limited. I agree person was authorised to do so.
that until such time as I continue to transact 2.B.3 In the event of an apprehension of unautho-rized
through the registered intermediary, I will not be access, the Client shall immediately cause the
entitled to place orders directly in my account. The password and/or digital signature to be changed.
facility for direct trading through the website will The Client shall at no time allow any unauthorized
be made available to me only after I become an person access to his Client Account and shall
online client of ICICI Securities Limited. ensure that he logs off every time that he is not
2A. 4. I hereby authorize the registered intermediary to using the service.
operate the linked demat accounts and the bank 2.B.4 The Client shall forthwith intimate ICICI Securities
account currently linked to the ICICIdirect.com of any unauthorized usage of the same with full
account and those bank and demat accounts that details of the date, the manner, the after the unau-
would be linked to the to ICICIdirect.com account thorized use.
in future in order to settle transactions ordered 2.B.5 The Client may download the obligatory
through by ICICI Securities on my/our behalf. In documents added by ICICI Securities at its
this regard I/ we hereby authorize you to place discretion, promptly on intimation of a notice of its
purchase/ sale/ redemption orders for securities as display by ICICI Securities.
defined under the Securities Contracts( 2.B.6 The Client acknowledges, represents and
Regulation)Act, 1956 offered by ICICI Securities warrants that he has received/shall receive such
Limited to its customers, allocate fund, modify passwords or digital signatures, as the case may
fund allocation, make requests for application to be, which provides access to the Client Account
public issues, modify orders/applications and that the Client is the sole and exclusive owner
requests, cancel orders, receive information, and shall be used by him of such passwords or
confirmations regarding transactions on ICICI digital signatures, as the case may be, and accept
Securities Limited and accept various terms and sole responsibility for use, confidentiality and
conditions, as per the instructions given by me/us prote-ction of the password or digital signature, as
to you over phone, electronically, facsimile or in the case may be.
person and do all such related activities on behalf 2.B.7 The Client is aware that the transaction
on me/us. Further, I / we authorize the registered statements, which would be provided to the Client
intermediary to apply for various services on through Website or otherwise (as may be
my/our behalf offered by ICICI Securities Limited. I intimated to the Client), may be accessed by other
/ we however, are not conferring any authority on entities in case the confiden-tiality / secrecy of the
the registered intermediary to directly withdraw / password is compromised by the Client. Further,
transfer funds/demat shares from my/our above the client agrees that if he chooses to become a
referred bank account and demat account(s). The direct client of ICICI Securities Limited or in the
registered intermediary will have a limited access event of disassociation with the registered interm-
to the bank and demat accounts through the ediary due to whatsoever reason, the aforesaid
ICICIdirect.com account H o w e v e r, I / W e clauses specific to facility of providing a separate
request ICICI Securities Limited to provide me/us user id and password to view the transactions to
with a separate user id and password as an “off line clients” would automatically become a
additional facility only for the limited purpose of mandatory feat-ure of the online broking account.
viewing the orders, transactions, state-ments, The following clauses from 2.A. 8 to 2.A .11specific
contracts, ledger balances concerning my/our to online trading would also become opera-tional.
ICICIdirect.com acc-ount with ICICI Securities. 2.B. 8 ICICI Securities/ ICICI Bank shall cause to be
2. B. Clauses specific to facility of providing a separate displayed on the Website, the Terms and
24
Conditions governing the purchase, sale or any other the application for Credit Facility made by the
transaction in each of the Investment Products as Client. This facility shall not be construed as a
and when they are introduced or at any time guarantee / undertaking by ICICI Secur-ities to
amend this Letter of confir-mation, by modifying make available the Credit Facility from any
or rescinding any of the existing provisions or Financier in favour of the Client. Nothing contained
conditions or by adding any new provision or herein or on the Website shall constitute or
condition. Provided that ICICI Secur-ities shall be deemed to constitute an advice, an offer to
entitled to modify/alter the said Terms and purchase shares, or sponsorship to subscribe to
Conditions of such Investment Product (exclu- the shares or an invitation, recommendation or
ding products which are dealt on Stock solici-tation to avail of any Credit Facility from any
Exchanges) and such a change shall be displayed Financier. ICICI Securities may at any time, without
on the Website so as to intimate such giving any notice to the Client terminate or
modification/alteration to the Client. The suspend or withdraw this service or facility.
continued use of the Website by the Client shall be 4. The Client shall ensure that the transactions
deemed to be an acceptance by the Client of the through ICICI Securities are exec-uted in
modified/altered Terms and Conditions of such accordance with the applicable laws, byelaws,
Investment Product (excluding products which are rules and regulations governing the specific
dealt on Stock Exch-anges). For products which Investment Product. ICICI Securities may, from
are dealt on Stock Exchanges, ICICI Securities time to time, impose and vary limits on the orders
shall follow the process as per the applicable rules which the Client may place, including exposure
and regulations of the conc-erned Stock limits, turnover limits, limits as to numbers etc. The
Exchanges for changes in terms and conditions. Client agrees that ICICI Securities shall not be
2.B.9 The Client acknowledges that he is fully aware of responsible for any variation or reduction that may
the risks involved in online trading activities, be deemed necessary by ICICI Securities based on
including the risk involved due to unauthorize- its risk perception and other relevant factors.
daccess or any technical difficulties. The client VI. REPRESENTATIONS AND WARRANTIES BY
would place all transaction instructions in his THE CLIENT
online trading account using his User Id and pass- 1. The Client affirms, and shall continue to affirm
word. ICICI Securities shall act as the Client’s agent every time an order is placed through ICICI
to complete all transactions authenticated by the SECURITIES or an application preferred, as the
password assigned to the Client, or by such means case may be, that all information provided and the
as ICICI Securities may require from time to time, statements made in the Client Account Opening
including affixing of digital signatures. ICICI Form are true and are not misleading (whether by
Securities has no obligations to verify the reason of an omission to state a particular fact or
authenticity of any trans-action instruction sent or otherwise as at the time of completing the Client
purported to have been sent from the Client other Account Opening Form or any time thereafter).
than by means of verifi-cation of the Client’s The Client agrees that ICICI Securities has agreed
password. to provide to the Client, various services based on
2.B.10 An order or application shall be deemed to have representation contained in Account opening
been executed or cancelled only after such status form and this Letter of Confirmation (“The Letter”).
is updated by ICICI Securities on its website. 2. The Client has the required legal capacity to
3. ICICI Securities may, from time to time, and at its execute this Letter and is capable of performing his
sole and absolute discretion, offer to facilitate to obligations and undertakings hereu-nder.
the Clients, through the Website and other media, 3. The Client shall, at all times, be responsible for the
the facility of applying for loans and overdrafts and Client’s investment decis-ions and/or orders
other credit facilities (hereinafter the “Credit placed, or applications preferred by the Client,
Facility”) from various Banks or financial either electro-nically or otherwise. The Client shall
institutions or any finance companies(hereinafter not hold, nor seek to hold, ICICI Securities and/or
refe-rred to as “the Finan-cier”) for the purpose of any of its officers, directors, employees, agen-ts,
investing in initial public offer / public offer of the subs-idiaries or affiliates, liable for any loss
shares of various entities/securities (hereinafter including but not limited to trading losses incurred
referre-d to as “purpose”), in compliance with the by the Clie-nt. The Client understands that placing
applicable laws. The Client acknowledges and an order with ICICI Securities, either electronically
agrees that ICICI Securities is only facilitating the or otherwise, does not guarantee exec-ution of the
Client in applying for various Credit Facility and said order or acceptance of an applica-tion. ICICI
grant/sanction of the Credit Facility and the terms Securities shall not be deemed to have received
and conditions thereof shall be at the sole any electronically transmitted order or appli-cation
discretion of the Financier, ICICI Securities shall until ICICI Securities has confirmed the receipt of
have no liability and/or responsibility whatso-ever such an order or appli-cation.
in connection with the Credit Facility. The Financier 4. The Client agrees that ICICI Securities shall act as
shall have the sole discre-tion to accept or reject
25
the Client’s agent to complete all transactions authenti- Further, at such time and within such period as
cated by the password assigned to the Client, or by ICICI Securities may require, the Client shall obtain
such means as ICICI -Securities may require from and maintain during the term of this Letter, digital
time to time, including affixing of digital signatures, which would aid and assist the Parties
signatures. ICICI Securities is hereby expressly and the Client to authenticate all or any electronic
authorized to make advances and expend monies transa-ctions made through the Website. The
as may be required for carrying out such Client shall be responsible for keeping the Client id
transaction. The Client shall, at all times, be liable and password and/or digital signature confid-
to pay ICICI Securities, the broker-age, ential and secure and shall be solely responsible
commission, service tax and other taxes and for all orders and transaction that are entered and
transaction expenses as applicable/ notified by executed using the password and/or digital
ICICI Securities on the Website or by email from signature whether or not such person was
time to time. Certain orders or appli-cations, at authorised to do so. In the event of an
ICICI Securities sole discretion, may be subject to apprehension of unauthorized access, the Client
manual review, thereby delaying the processing of shall immediately cause the password and/or
the Client’s order or application. The Client shall digital signature to be changed. The Client shall at
receive the price at which the Client’s order or no time allow any unaut-horized person access to
application is actually executed in the Exchanges his Client Account and shall ensure that he logs off
or otherwise, as the case may be, which in the every time that he is not using the service. The
event of a delay may be different from the price at Client shall forthwith intimate ICICI Securities of
which the Client’s order or application was placed. any unauth-orized usage of the same with full
5. The Client agrees that any request for details of the date, the manner, the transactions
cancellation/modification of an order or an executed after the unauthorized use.
application shall be subject to the order or 10. The Client agrees that in case the Client has applied
application not having been acted upon or already for shares in an Initial Public Offer / Public Offer
being executed or it being outside the control of through ICICI Securities, the Client shall not,
ICICI Securit-ies to make any cancellation or without prior intimation and acknowl-edgment of
modification to such order or application. An order ICICI Securities, liaise with the Registrar for the
or application shall be deemed to have been Initial Public Offer / Public Offer to change the
executed or canceled only after the Client has details of the Demat Account, Bank account and
received a statement from ICICI Securities the Address on the Application Form provided to
intimating him of the status of his order. the Registrar by ICICI Securities. The Client further
6. The Client hereby agrees that ICICI Securities or authorises ICICI Securities to give standing
the Exchanges shall not be liable for the instructions to the Registrar to reject such requests
nonexecution of any order caused due to any from the Client. In event of any change in the
suspension, interrup-tion, non-availability or details of the Demat Account, Bank Account,
malfunctioning of the online trading service or the Address of the Client, etc., the Client shall first
Exchange system or service or for any reasons update such changes with ICICI Securities who
whats-oever. shall liaise with the Regis-trar to update such
7. The Client agrees to and undertakes to deposit changes and accordingly the refun-ds/allotments
with ICICI Securities such cash, securities or other on the Application shall be made. The Client
accep-table securities as may be required as a agrees that ICICI Securities is hereby autho-rised
margin, in addition to the permanent margin, to give instructions to the Depository Participant of
which may be higher than the margin as the Client to reject any request received from the
prescribed by the Exchange. The Client hereby Client for changing the Bank Account details or
undertakes that when called upon to do so, updating any change relating to the Demat
provide ICICI Securities a margin deposit and /or Account. The Client further agrees that the Client
additional margin money as required in respect of shall not close the Demat Account / Bank Account
business done for the Client by ICICI Securities. without prior notification to ICICI Secu-rities where
8. The Client agrees that ICICI Securities and ICICI an Application for Initial Public Offer / Public Offer
Bank may enforce any of the rights, duties and has been made on behalf of the Client through
obliga-tions arising under this Letter or any related ICICI Securities and the Client agrees that ICICI
docu-ment including the Power of Attorney either Securities may instruct the Depository Participant /
jointly or independently, and nothing in this Letter Bank of the Client to reject any such request
shall be construed in a manner so as to restrict the received from the Client. In case an application is
right of ICICI Securities and ICICI Bank to initiate made for Initial Public Offer / Public Offer through
any action jointly. ICICI Secu-rities, the Client authorizes ICICI
9. The Client shall choose a password that shall be at Securities to collect on Client’s behalf, the refund
least 8 characters long (or as otherwise specified amount, if any, from the Company/ Registrar and
by ICICI Securities) and shall at all times keep the subsequently credit the same to Client’s Bank
Client-identification and password confidential. Account after set-off /adjustment of dues payable

26
 by the Client on account of obligations incurred in channels for access of the said account facility as
conn-ection with the appli-cation.The Client put up on www.icicibank and am/are aware of and
further agrees that ICICI Securities shall not be will adhere to all the terms/conditions of opening/
held respo-nsible for non allotment of securities maintaining of the said account and usage of the
either fully or partly to the Client, for any reason channels with / by ICICI Bank Ltd as may be in force
whatsoever. ICICI Securities shall not be held from time to time. I/We further declare that I/ We
responsible in case due to some reason the have read and are/ am aware of and will adhere to
bid/application/revision ins-truction sent by the the rules of the Depository in relation to
Client is not received by it, or if the maintenance and operation of the account.
bid/application/revision could not be uploaded to 19. I/We understand that certain particulars given by
the Stock Exchange, or could not be sent to the me/us are required by the operational guidelines
Banker / Registrar to the issue. ICICI Securities governing banking comp-anies. I/We further
shall not be held responsible for non-receipt or declare and confirm that the credit facilities, if any,
delay in/incorrect receipt of refund,if any, from the enjoyed by me/us with other banks has been
Registrar/Company. ICICI Secu-rities shall not be disclosed herein above.
held respon-sible for incorrect Tax deduction at 20. I/We declare, confirm, agree
Source (TDS) by the Registrar/Company, if appli- a. That all the particulars and information given in the
cable, or for nonreceipt or delay in/incorrect Application form are true, correct, complete and
receipt of TDS certificate, if any, from the upto date in all respects and I/ We have not
Registrar/Company. The Client agrees that the withheld any information.
aforesaid Power of Attorney executed by the Client b. That I/We confirm that I/We have had no insolvency
in favour of ICICI Securities and the instructions initiated against me/us nor have I/ We ever been
provi-ded by the client shall be treated as adjudicated insolvent.
extending to making of the application for Initial c. That I/We have never been prohibited to transact in
Public Offer / Public Offer on behalf of the Client, the Securities Market by SEBI/NSE/ BSE or any
and further that ICICI Securities may furnish Regulatory Body and that I/We have not been
certified copy of the Power of Attorney and other declared as suspen-ded/expelled/ defau-lter
documents on behalf of the client to the trading members; default-ing constituents and
Company/Registrar/any third party. empl-oyees of other trading members by
11. The terms and conditions pertaining to the ICICI- SEBI/NSE/BSE or any other regula-tory Body.
direct.com Account, Bank Account & Demat d. That I/We have read the applic-ation form and
Account which is in force now, have been read by brochures and am/are aware of all the terms and
me/us. conditions of availing the said services from ICICI
12. I/We have understood the same and I/we agree to Bank and its Group Companies and ICICI
abide by and to be bound by the rules as are in Securities.
force from time to time for such accounts. e. That ICICI Securities, ICICI Bank and its Group
13. I/We also declare that the particulars given by Compa-nies reserve the right to reject any
me/us are true to the best of my/our knowledge as application without providing any reason.
on the date of making such application. I/We f. I/We declare and confirm that I/we are not an
further agree that any false/misleading authorized representative or employee of another
information given by me or suppression of any trading member. I/We undertake that we shall not
material fact will render my/our account liable for execute trades through ICICI Secu-rities on NSE or
termination and further action. BSE if I/we become an employee of another
14. I/We agree to pay the charges as per the Schedule trading member unless I/we provide a written
of Charges attached to the Form and any revision consent of such employing trading member to
thereof from time to time and understand that ICICI Securities.
my/our opening of the ICICI-direct.com Account is g. I/We declare and confirm that I/We are not
subject to the payment of these charges. member(s) of the National Stock Exchange of India
15. I/We wish to link all accounts under the Web Ltd. or Bombay Stock Exchange Ltd. I/We
Banking Account with ICICI Bank. I/We confirm that undertake that we shall not execute trades through
First holder is the sole signatory or authorised to ICICI Securities on NSE or BSE if I/we become
act alone where the accounts are in the joint member of the respective stock exchange(s).
names. h. I/we hereby agree that this Declaration may be
16. I/We hereby authorize ICICI Securities to debit all canceled or revoked by me/us only upon
the Demat Account related charges to my/our ICICI furnishing an advance written notice of 30 (thirty)
Bank Account linked to ICICI-direct.com Account. days to ICICI Secur-ities and ICICI Bank Ltd. and by
17. I/We authorise ICICI Bank to receive credits autom- obtaining proper written acknowledgment for the
atically into my/our Bank and Demat Account(s). receipt of the notice from ICICI Securities Ltd and
18. I/We agree and confirm that I/we have read the ICICI Bank Ltd. I/we further understand that upon
terms and conditions of the account facility, and receipt of such notice, ICICI Securities Ltd and ICICI
the terms and conditions pertaining to usage of
27
Bank Ltd. may at any time termin-ate or suspend my/our and its group companies due to my/our providing
account/accounts or any other services provided of any incorrect communication
to me/us with or without any further notice. Such address/residence address/emplo-yment details
notice or termination or suspen-sion of account(s)/ and/or failure on my/our part to comm-unicate the
services shall not have any effect on the change/alter-ation in my/our commu-nication
transactions executed by or on my/our behalf address/residence address/employ-ment detai-ls.
before the date of such notice or effective date of
termination or suspension of account(s) services, c. I/We agree and hereby authorise ICICI Securities
whichever is later. Ltd/ICICI Bank Ltd/its Group Companies and their
I. I/We are required to comply with the Mutual Fund - agents to exchange, share or part with all the
Know Your Client (KYC) norms mandated by SEBI. information, data or documents relating to my/our
I/We understand that in case I/we do not comply application and transaction information to other
with the mentioned norms, transac-tions in Mutual ICICI Group Companies / Banks / Financial
Fund will not be permitted. lnstitutions / Credit Bureaus / Agencies / Asset
j. I/We agree that in the case of Joint Account both Management Companies / KYC Registration
the Applicant and Joint Applicant are singly and Agencies (KRA) / Registrar and Transfer Agents /
jointly liable for overdraft if any, even if the Insurance Companies / Companies accepting
Application cum demand Promissory Note is deposits or any other securities / issuers of
signed by the Applicant alone. securities / investment products, service providers
k. I/We nominate the person (details provided) to and Statutory Bodies as ICICI Securities Ltd/ICICI
whom in the event of my / our / minor’s death the Bank Ltd/its Group Companies may deem
amount of deposit in the bank account, particulars appropriate which may be required for use or
where-of are given, may be returned by ICICI Bank, processing of the said application/ transaction by
branch. OR appoint the Guardian (detals provided) above mentioned entities or furnishing of the
as the nominee is a minor to receive the amount on processed information/data/ products thereof to
behalf of the nominee in the event of other Banks/ Financial Institutions/credit
my/our/minor’s death during the minority of the providers/agencies/users registered with such
nominee. This nomin-ation shall apply to all types persons. I/we shall not hold ICICI Securities Ltd
of deposits, accounts made under this Customer /ICICI Bank Ltd/ its Group companies liable for the
ID (which will be the distinguishing number of this disclosure or use of such information.
Nomination) from time to time including renewals d. I/We agree to undertake and authorise ICICI Bank
thereof. to issue a consolidated certificate for Tax Deducted
21. I/We agree, undertake and authorize: at Source, if appli-cable, on interest paid or credit
a. ICICI Securities, ICICI Bank and its Group during the financial year in accordance with
Companies or their agents to make references and prevailing Income Tax Laws unless otherwise
enquiries relative to information in this application requested by me/us through prior intimation. I/We
which ICICI Securities, ICICI Bank and its Group agree and confirm that tax will be deducted at
Companies or their agents consider necessary. source as per prevailing income tax laws subject to
b. To inform ICICI Securities, ICICI Bank and its Group a certificate from Indian tax authorities for nil /
Companies regarding change in my/our reside- concessional rate of tax deduction. I also unders-
nce/ employment and to provide any further infor- tand and agree that tax implications including
mation that ICICI Securities, ICICI Bank and its documentation requirement are subject to change
Group Companies may require from time to time. from time to time.”
I/We hereby authorise ICICI Securities, ICICI Bank 22. I/We agree that I shall be solely responsible to
and its group companies to update any make avaiIable funds / securities for trans-actions
change/alteration in my/our communication executed in my ICICIdirect.com trading acco-unt.
addre-ss/resid-ence address/empl-oyment details I/We understand that ICICI Securities is an entity
that ICICI Securities, ICICI Bank and its group indep-endent of ICICI Bank (in its capacity as a
companies may be informed of by me and/or is bank and as a depository) and if the bank and / or
brought to the notice of ICICI Securities, ICICI Bank demat accounts linked to my/our trading account
and its group companies and hereby authorise are non-operational due to any reason
ICICI Securities, ICICI Bank and its group whatsoever, I/We shall continue to be respo-nsible
companies to contact me/us on such to make available funds / securities towards
changed/altered address. I/We shall be solely my/our paying obligations. The inability of ICICI
responsible to ensure that ICICI Securities, ICICI Securities to debit the same from my/our linked
Bank and its group companies has been informed Bank/Demat accounts does not absolve me/us
of the correct address for communicatio- from such liability or change in any way rights,
n/residence address emplo-yment details. I/We liabilities and obligations arising out of or in
agree to indemnify ICICI Securities, ICICI Bank and respect of transactions entered thereto.
its group companies against any fraud or any loss 23. I/We agree that though all endeavor is made by
or damage suffered by ICICI Securities, ICICI Bank ICICI Securities to provide maxi-mum possible
28
details pertai-ning to my transactions, certain details read and understood the Terms and Conditions for
like allocation of funds / securities, trading limits, usage of the Mobile Banking service of ICICI Bank
open positions in the derivatives market and the Limited and I/we aware of Charges Applicable as
like can be made available only for the current set forth in www.icicibank.com, and that I/we
trading settlement. I further agree and understand agree on my/our own behalf, or as the mandate
that ICICI Securities cannot make available holder on behalf of the joint account holders, and
historical details of such data taking into consid- will adhere to all the terms/conditions of open-ing/
eration the technical feasib-ility, usage etc of the applying/ availing/ maintaining/ operating (as
same. I agree that records of historical details of applicable) for usage of Mobile Banking service of
such data as maintained / extracted / archived by ICICI Bank Limited as may be in force from time to
ICICI Securities Limited. would be acceptable to time. I/we further authorize ICICI Bank Limited to
me as authentic and final. debit my Account(s) towards any Charges for
24. I/We agree that certain details as provided in Mobile Banking Service.
my/our trading account would not be on a real 32. The rules & regulations of the Depository and
time basis. I/ we agree and accept that such details Depos-itory Participants pertaining to an account
would be updated by ICICI Securities Ltd on best which are in force now have been read by me/us
effort basis within reasonable time. I/we shall not and I/We have understood the same and I/We
hold ICICI Secu-rities responsible for any possible agree to abide by and to be bound by the rules as
mismatches in the real time data and data as are in force from time to time for such accounts.
reflecting on the site during the period the I/We also declare that the particulars given by
updations are not effected. me/us are true to the best of my/our knowledge as
25. I/We authorise ICICI Bank Ltd. to issue an ICICI on the date of making such applications. I/We
Bank Debit cum ATM Card to me/us. I/We further agree that my false/misleading inform-
acknowledge that the issue and usage of the Card ation given by me or suppression of any material
is governed by the terms and conditions as in force fact will render my account liable for termination
from time to time and agree to be bound by the and further action.
same. I/We acknowledge that it is my/our respo- 33. I/We agree and understand that ICICI Bank Ltd/its
nsibility to obtain a copy of and read the same. Group Companies reserve the right to retain the
I/We accept that the terms and conditions are liable application forms, and the documents provided
to be amended by ICICI Bank Ltd. from time to therewith, inclu-ding photo-graphs, and will not
time. return the same to me/us.
26. I/We further unconditionally and irrevocably 34. I/We agree and understand that I/We have to
authorise ICICI Bank Ltd. to debit my/our Bank complete further applications for specific liability
Account annually with an amount equivalent to the products/services from ICICI Bank Ltd/its Group
fee and charges for use of the Debit cum ATM Companies, as prescribed from time to time, and
Card. that such further applica-tions shall be regarded as
27. I/We hereby confirm this Bank account will be an integral part of this application (and vice versa),
oper-ated singly and in case of joint account and that unless otherwise disclosed in such further
operated by either or survivor. forms as prescribed, the particulars and
28. I/We confirm that the Bank account to be opened information set forth herein as well as the
with ICICIdirect.com Account be used for the documents referred or provided herewith are true,
purpose of all cash corporate actions. correct, complete and up-to-date in all respects.
29. I/We wish to apply for all the Mobile Banking Alerts I/We agree and understand that such further
as are displayed on the website applications will require incorporation of the
www.icicibank.com for the Bank Account to be application form number, and/or such details as
opened/linked. ICICI Bank may prescribe, to facilitate data
30. I/We, the Jointholder/s, hereby authorize the First management.
holder, to access the Inter-net Banking, Phone 35. I/We understand ICICI Securities Limited does
Banking and Mobile Banking chan-nels as clientele business and has decided to do and deals
provided for viewing of and transaction from the in proprietary trading too. The disclosure is given
Account and the First holder confirms the said pursuant to the requirement as per clause 2.3 of
appoi-ntment. I/We, the Jointh-older/s, hereby the SEBI Circular No. SEBI/MRD/SE/Cir-42/2003
state that should I/we, Joint-holder/s, wish to dated 19th November, 2003.
revoke the above authorisation, I/we, Jointh- 36. I hereby declare that I have, read and understood
older/s, shall duly issue a letter of revocation (" the the terms and conditions governing the ICICIdire-
revocation letter") to ICICI Bank in this regard. I/We ct.com a/c and ICICI Bank a/c at https://secur-
hereby agree that until ten days after receipt of e.icicid-irect.com/resident/tnc.htm
such revocation letter, the auth-orisation as 37. I agree that a Student account or a Saving Account
aforestated shall hold good. having quantum optimum facility or a Current A/C
31. I/We affirm, confirm and undertake that I/we have cannot be linked.
38. I/we have no objection to ICICI Securities Limited,
29
its group companies, agents / represe-ntatives to Bank on all legal, professional and other expenses
provide me/us information on various products, incurred by ICICI Bank.
offers and services provided by ICICI Securities 5. I/We undertake to send ICICI Bank instructions
Limited / its group companies through any mode relating to the transfer of securities latest by 4 p.m.
(including without limitation through telephone on business day (excluding Saturday, Sunday and
calls / SMSs / emails) and authorise ICICI Securities bank holidays) prior to the execution date
Limited, its group companies, agents / indicated by me/us in the debit instruction. We
representatives for the above purpose. note that the instructions received by ICICI Bank
39. The client agrees that in case his account is after this, will be carried out and updated only on
mapped to advisor / dealer, then the client “Best Effort” basis. ICICI Bank is not liable for any
authorises such advisor / dealer to call even if losses and arising out of TIFDs accepted on the
client's number is registered in National Consumer “Best Effort” basis.
Preference Register / Do No Call database. 6. ICICI Bank will not be responsible for any failure as
a result of non receipt or receipt of
VII. CLAUSES SPECIFIC TO OPENING OF incomplete/erroneous instructions though
DEMATERIALISED SECURITIES ACCOUNT received within the stipulated time.
(“DP ACCOUNT”) WITH ICICI BANK LTD. 7. All instructions will be signed by me/us or by an
I/We refer to my/our application for opening dematerialised authorised person on my/our behalf whose
securities account ("DP account") with ICICI Bank Limited signature has been lodged with ICICI Bank along
(“lClCI Bank") and execution of the “Agreement between the with relevant documents as required by ICICI
Depository Participant and the Person seeking to open a Bank. I/We shall inform ICICI Bank about the
Demat Account with the Depository Participant" as changes in the list of authorised persons and their
stipulated herein ("DP Agreement") in connection therewith. specimen signatures from time to time.
In consideration of your having agreed to enter into the DP 8. I/We am/are agreeable to pay the fees for the
agreement, at our request, we hereby agree and confirm services rendered by ICICI Bank as per Section G /
that: tariff sheet signed by me. . I/We hereby authorise
1. ICICI Bank as Depository Participant (DP) will not and instruct ICICI Bank to debit the bank account to
be liable to us for any action taken or authorised to be notified by me/us for the fees and other charges
be taken under the Rights & Obligations of and undertake to ensure that adequate balances
Beneficial Owner and Depository Participant are made available in the bank account. I/We
prescribed by SEBI & Depositories for any claim, further confirm that, the securities held in my/our
loss, damages or expenses arising in connection DP account are subject to a lien/right of set off in
with any such action or omission except in so far as favour of ICICI Bank for the claims of monies
the same results from bad faith, willful default or payable to ICICI Bank
negligence on the part of ICICI Bank. 9. I/We hereby agree, confirm and understand that
2. ICICI Bank as DP will not be liable or responsible for ICICI Bank reserves the right to revise the terms
the loss or damages arising on account of any and conditions or rules and procedures pertaining
natural calamities or on account of malicious to the DP account and that such revised terms and
damages caused on account of any strike, civil conditions shall then be binding on me/us.
commotion, riots, war, war like events or 10. The particulars given and declarations made by
circumstances beyond the control of ICICI Bank. me/us in the account opening form, other
3. ICICI Bank as DP, will not be responsible for the declarations and in this letter are true as on the
title, validity or genuineness of any securities date hereof and any changes will be informed to
which have been dematerialised and notified you immediately. I/We further confirm that ICICI
subsequently by the Registrars of any defects in its Bank is not liable and responsible for any incorrect
title/validity which has resulted in a reduction of information given to ICICI Bank nor for any false
the dematerialised holdings of the client and the declaration furnished to ICICI Bank and the
consequences thereon. consequential effects thereon.
4. I/We hereby agree to hold ICICI Bank harmless 11. I/We have read and understood the rules and
against all actions, proceedings, claims and regulations pertaining to the Depository and
demands, cost and expenses incidental thereto Depository Participants in connection with
which may be brought against, suffered or opening and operating of DP accounts.
incurred by ICICI Bank as Depository Participant by 12. I/We authorise ICICI Bank to issue/re-issue a TIFD
reason of all acts done by it pursuant to the booklet through Post or Courier or as per your
provisions of the Rights & Obligations of Beneficial standard practice. The Courier charges will be
Owner and Depository Participant prescribed by debited in my/our account.
SEBI & Depositories including any action or 13. (a) I/We hereby authorise ICICI Bank, to claim from
omission undertaken in compliance with any my/our bank account mentioned under
instructions received by ICICI Bank which ICICI “Electronic Clearing Service (Debit Clearing)
Bank believes in good faith to have been given by Mandate/Direct Debit Mandate and Bank details
me/us and make good the losses incurred by ICICI
30
for receiving dividend/interest”, the charges in respect in the whole depository system i.e. NSDL and
of the Demat Account. CDSL.
I/We further confirm that : 2. Value of holdings in this demat account should not
I) I/We am/are agreeable to participate in Electronic exceed Rs 2 lac.
Clearing Services (Debit Clearing) of RBI and B. FEATURES OF BSDA FACILITY
enclose the Mandate Form. 1. Scheme A - Customer having demat holding from
ii) The relevant Bank has been authorised to debit Rs 0 to Rs 50,000 will not be charged any AMC
my/our designated bank account with charges 2. Scheme B - Customers having demat holding
relating to my demat account with ICICI Bank and value of Rs 50,001 to Rs 2 lac will be charged Rs
remit the proceeds to ICICI Bank in the manner 100 AMC
adviced by ICICI Bank from time to time. ICICI Bank 3. The value of holding shall be determined on the
may forward a copy of the authorisation to the basis of the daily closing price or NAV of the
relevant Bank. securities or units of mutual funds. Where such
b) I/We hereby undertake not to revoke the standing price is not available the last traded price will be
instruction given to my relevant Bank with regard taken into account and for unlisted securities other
to my designated bank account for the above than units of mutual funds, face value will be taken
without the written approval from ICICI Bank or into account
after complying with clause ‘d’ below. 4. If the value of holding in such BSDA exceeds the
c) We will ensure that sufficient balance will be prescribed criteria at any date, normal charges as
maintained in the said bank account for meeting applicable to regular accounts (non-BSDA) from
the dues. that date onwards shall be levied.
d) I/We will provide fresh authorisation/instruction 5. Transaction statement (TS) will be sent quarterly
for claiming ICICI Bank dues from the new bank unless there are no transactions in which case
account in the event of our closing this designated Transaction statement will not be sent. One annual
bank account. I/ We will provide fresh statement of holding will be sent in physical /
authorisation to ICICI Bank at least one month prior electronic form as opted by the account holder.
to our closing the account. Electronic statements will be provided free of cost.
14. I/We have agreed to ICICI Bank for accepting any In case of physical statement, two physical
facsimile (fax) instructions, I/We confirm that ICICI statement will be provided free of cost during the
Bank as DP shall not be liable for any losses or billing cycle. Additional physical statement will be
damages which I/We may suffer as a consequence charged at Rs 25/- per statement.
of ICICI Bank as DP acting in accordance with or in C. DECLARATION
reliance upon, any fax instructions. I/We hereby I / We have read and understood the Securities and
agree that I/We shall indemnify the DP and keep Exchange Board of India's guidelines for facility for
ICICI Bank as DP indemnified and saved harmless, a BSDA. I/We hereby declare that I/We am/are
at all times against any claims, losses, damages, in eligible to open a depository account as a BSDA
connection with or arising out of or in relation to holder and undertake to comply with the
any fax submission. requirements specified by Securities and
15. I/We further confirm that the above confirmation Exchange Board of India (SEBI) or any such
are in addition to those confirmation given by authority for such facility from time to time. I/We
me/us in the account opening form by me/us for also understand that in case I/We at any point of
opening the DP account. time do not meet the eligibility as a BSDA holder,
16. I/We have been provided with the Rights and my/our aforesaid account is liable to be converted
Obligations document prescribed by SEBI and to regular account.
hereby confirm that I have read, understood and TERMS AND CONDIT-IONS FOR RECEIPT OF
agree to abide by the terms of the said Rights and STATEMENT OF TRAN SACTIONS THROUGH E-
Obligation document and understand that the MAIL
Rights and Obligations document is legally 1. Definitions: In this document the following words
binding on me/us. and phrases shall have the meanings as set below
17. I/We understand that this letter of confirmation is unless the context indicates otherwise:
subject to the Government notification, any rules, “Account(s)” or “ Accounts” or “ Account” refers to
regulations, guidelines and circulars/ notices the Client’s depository account(s) maintained
issued by SEBI and Rules, Regulations and Bye- with ICICI Bank.
laws of the relevant Depository that may be in “Client(s)” means refers to a customer of ICICI
force from time to time. Bank maintaining a depository account with ICICI
TERMS AND CONDITIONS FOR AVAILING BSDA Bank and availing of the Services (herein below
FACILITY defined). “Website “ refers to the website owned,
A. ELIGIBILITY established and maintained by ICICI Bank located
1. Customer should have only one demat account at the URL www.icicibank.com.
with in his capacity as a sole holder or a first holder 2. The Client may subscribe/request for receiving the

31
transaction statements of the Account with ICICI Bank or any requirement of law.
through electronic medium such as e-mail or 8. The Client will take all the necessary steps to
website (here in after referred to as the “Services”). ensure confidentiality and secrecy of the login
These Terms and Conditions (hereinafter referred name and password of the internet/email account.
to as the “Terms”) form the contract between the 9. The Client is aware that the transaction statements
Client and ICICI Bank for availing the said Services. may be accessed by other entities in case the
The Client shall apply to ICICI Bank in the confidentiality/secrecy of the login name and
prescribed form for use of the said Services. By password is compromised.
applying for or availing of the said Services, the 10. The Client accepts full responsibility for the
Client acknowledges, accepts and agrees to these monitoring and safeguarding of the Client’s
Terms. accounts with ICICI Bank. The Client shall
3. ICICI Bank shall endeavour to provide to the Client, immediately notify ICICI Bank in writing, delivered
through electronic medium such as e-mail or via e-mail and/or Registered AD: (a) If the Client
website the transaction statements pertaining to becomes aware of any loss, theft or unauthorised
the Client’s account. The electronic delivery may use of the passwords or digital signatures of the
be in the form of an electronic mail or an Client, as the case may be and the Client’s account
attachment to the electronic mail or in any other number; or (b) Any inaccurate information in the
form as decided by ICICI Bank and intimated to the account balances, investment products positions,
Client. or transaction history.
4. ICICI Bank would be deemed to have fulfilled its 11. If the Client fails to notify ICICI Bank immediately
legal obligations to deliver to the Client the upon the Client’s knowledge about the time when
transaction statements if such transaction any of the above conditions (as mentioned in
statements are sent through electronic means at clause 10) occur, neither ICICI Bank nor any of its
the email address provided by the Client to ICICI officers, directors, employees, agents, affiliates or
Bank. Failure on the part of the Client to advise subsidiaries can or will have any responsibility or
ICICI Bank of any difficulty in opening any liability to the Client or to any other person whose
transaction statement so delivered within twenty- claim may arise through the Client for any claims
four (24) hours after delivery by ICICI Bank shall including but not limited to claims arising with
serve as an affirmation regarding the acceptance respect to the handling, mishandling or loss of any
of such transaction statement. order. Under no circumstances, including
5. The Client agrees not to receive transaction negligence, shall ICICI Bank or anyone involved in
statements in a physical form from ICICI Bank once creating, producing, delivering or managing the
the Client has agreed to avail such Services. Services for ICICI Bank be liable for any direct,
However, notwithstanding the above, the Client indirect, incidental, special or consequential
will receive the annual transaction statement in damages that result from the use of or inability to
physical form. In the event ICICI Bank is unable to use the Services, or out of any breach of any
provide transaction statements through an warranty.
electronic medium due to any unforeseen 12. Both ICICI Bank and the Client have the right to
problems and/or temporary technological lapses/ terminate such Services provided a written notice
failure, ICICI Bank shall ensure that the transaction is given atleast 10 (ten) days in advance to the
statement reaches the Client in physical form as other party.
per the time schedule as stipulated by NSDL / 13. ICICI Bank reserves the discretion to
CDSL. In case of BSDA, the DP shall send the revise/modify/alter the Terms herein.
transaction statements as mandated by SEBI 14. All disputes arising out of or in relation to this
and/or Depository from time to time. terms and conditions shall be governed by the
6. In the event the Client selects to avail the Services, laws of India and shall be subject to the exclusive
the Client shall immediately inform ICICI Bank jurisdiction of the competent courts at Mumbai.
about any change in his/her/it’s email address as 15. Notwithstanding anything contained herein, all
provided earlier to ICICI Bank. terms and conditions stipulated by ICICI Bank
7. ICICI Bank does not provide any warranty and pertaining to the Account(s) and/or to any
makes no representation whatsoever about the services/facilities offered by ICICI Bank, shall
accuracy, authenticity and/or completeness of the continue to be applicable to the Client. The above
transaction statements provided through Terms are in addition to and not in contravention of
electronic medium. While ICICI Bank shall the terms and conditions forming part of the Rights
endeavour to provide the transaction statement as and Obligations document and the “LETTER OF
requested by the Client promptly, ICICI Bank shall CONFIRMATION” signed by the Client at the time
not be responsible for any non-response or delay of opening the account with ICICI Bank and the
in providing the transaction statements to the terms and conditions relating to any Account(s) of
Client due to any reason whatsoever, including but the Client and/or to those relating to
not limited to, due to failure of operational systems services/facilities offered by ICICI Bank and availed

32
by the Client. However, in the event of a conflict in such confirmation to you.
other terms and conditions stipulated byICICI 3. That the Instructions shall be conclusively
Bank, Rights and Obligations document , Letter of presumed for your benefit to be duly authorised by
Confirmation and the Terms herein, these Terms and legally binding on us, and we shall be fully
shall have an overriding effect to the extent of such responsible for the same. You shall not be
conflict. The Client agrees that in the event the responsible to ensure the authenticity, validity or
Client avails of any services/ facilities offered by source of any Instructions and shall not be liable if
ICICI Bank through the Website, the Client shall be any Instructions turned out Letter of Conformation
bound by all the terms and conditions stipulated (Continued) be to be un authorised, erroneous or
by ICICI Bank pertaining to such services/facilities, fraudulent.
offered by ICICI Bank and availed by the Client 4. That you shall be entitled (but not obliged) to keep
through the Website. records of our Instructions given or made by
VIII TERMS AND CONDITIONS FOR INSTRUCTIONS telephone, facsimile, untested telexes and faxes,
TO BE GIVEN BY FAX, TELEPHONE AND OTHER telegraph, cable or any other form of electronic
FORMS OF ELECTRONICS COMMUNICATIONS communication in such form, physical or
Notwithstanding anything to the contrary electronic, as you may in your sole discretion deem
contained in any other document/ agreement, I / fit, and your records shall be conclusive and
we, the undersigned, hereby request and binding on me/us. You shall entitled to dispose of
authorise you to act and rely on any instructions or destroy any such records at any time as
or communications for any purpose (including determined by you at your sole discretion.
b u t n o t l i m i t e d t o t h e 5. That you shall be authorised to disclose all
instructions/communications pertaining to the instructions as you may deem fit, to your affiliates,
operation of all my/our accounts or to any other counter parties, service providers, regulators and
facilities or services that may be provided by other authorities or where you are required by law
youfrom time to time) which may from time to to do so.
time be or purport to be given by telephone,
6. That you shall be entitled to require any instruction
facsimile, untested telexes and faxes, telegraph,
in any form to be authenticated by use of any
cable or any other form of electronic
password, identification code or test as may be
communication by me/us (including such
specified by you from time to time and I/we shall
instructions / communications as may be or
ensure the secrecy and security of such password,
purported to be given by those authorised to
code or test and l/we shall be solely responsible for
operate my/our account(s) with you)
any improper use of the same; That,
(“Instructions”). l/\Ne understand and
notwithstanding the above, you may, under
acknowledge that there are inherent risks
circumstances determined by you in your absolute
involved in sending the Instructions to you via
discretion, require from me/us confirmation of any
telephone, facsimile, untested telexes and faxes,
of any Instructions in such form as you may specify
telegraph, cable or any other for of electronic
before acting on the same; and we shall submit
communication and hereby agree and confirm
such confirmation to you immediately upon receipt
that all risks shall be fully borne by me/us and
of your request. Pursuant to receipt of Instructions,
I/we assume full responsibility for the same, and
you shall have the right but not the obligation to act
you will not be liable for any losses or damages
upon such Instruction.
including legal fees arising upon your acting, or
7. S u c h o t h e r t e r m s a s p r o v i d e d u n d e r
your failure to act, wholly or in part in accordance
www.icicibank.com
with the Instructions so received.
VIII. OTHER TERMS AND CONDITIONS
2. In consideration of you agreeing, subject to the
1. This Letter shall, at all times, be subject to
terms and conditions hereunder, to act upon the
Government Notifications, the relevant statutory
Instructions as aforesaid, I/we hereby irrevocably
rules, regulations, bye laws, customs and/or usage
agree and undertake: That you shall be entitled to
of the concerned regulatory body having
act or refuse to act as you see fit, without incurring jurisdiction over the transaction with respect to the
any liability whatsoever to me or to any other particular Investment Product. An order
person, upon any Instructions for any purpose inadvertently processed, in spite of insufficient
which may from time to time be or purport to be balances in the Client’s Bank Account or the
given by telephone, facsimile, untested telexes and account maintained with ICICI Bank Depository
faxes, telegraph, cable or any other form of Participant shall at ICICI Securities sole discretion
electronic communication by me/us (including be subject to cancellation or liquidation.
such Instructions as may be or purposed to be 2. An order inadvertently processed, in spite of
given by those authorised to operate my/our insufficient balances in the Client’s Bank Account
account(s) with you), even if such Instructions or or the account maintained with ICICI Bank
communications are not followed up written Depository Participant shall at ICICI Securities sole

33
discretion be subject to cancellation or liquidation. The the securities will be auctioned or closed out as per
Client shall credit the required fund to his Bank the rules of the concerned Exchange.
Account with ICICI Bank promptly to ensure that Consequently, the Client will be responsible for
the payment shall be received and processed on any resulting losses and all associated costs
or prior to the settlement date or a date intimated including penalty levied by the Exchange.
by ICICI Securities, whichever is earlier. If the 7. The Client acknowledges that ICICI Securities,
payment is not received as aforesaid, then ICICI shall not be under any obligation to provide him
Securities may square off the same without any with any tax, legal, accounting, investment advice
prior intimation to the Client. In the event of or advice regarding the suitability or profitability of
liquidation of the Account, the Client shall be liable investment of any kind, nor do ICICI Securities,
for any resulting losses and all associated costs give any advice or offer any opinion with respect to
incurred by ICICI Securities. the nature, potential value or suitability of any
3. ICICI Securities may, in its discretion, send any particular transaction or investment strategy.
document that is obligatory to be sent to the Client 8. The Client shall at all times be responsible and
by means of an electronic communication, with liable for his own actions/inaction. The Client may
the possible exception of graphic insertions such be able to access investment research reports
as photographs or logotypes, except Contract through the Internet from the Website, including
Notes which shall be sent electronically only if computerised online services or other media. The
client has opted for Electronic Contract Notes availability of such information does not constitute
(ECN). This electronic communication may be in a recommendation to buy or sell any of the
the form of e-mail, an e-mail attachment or in the Investment Products. Any investment decisions
form of download available on the Website. ICICI will be based solely on the Client’s own evaluation
Securities would be deemed to have fulfilled its of financial circumstances and investment
legal obligation to deliver a document to the Client, objectives. Any real-time quotes provided are only
if it is sent by the electronic mode. The Client shall for the Client’s individual use and the Client shall
download the said document promptly on not furnish such data to any other person or entity.
intimation of a notice of its display. Provided that 9. The Client agrees that each participating exchange
on a request being made by the Client, due to a or association or agency that supplies any data to
difficulty experienced by the Client in viewing the be displayed on the Website asserts a proprietary
same, ICICI Securities may, in its discretion, make interest in all of the market data it furnishes to
the required delivery by such other means, as it parties that disseminate the said data. Neither ICICI
may deem appropriate. The document shall be Securities, nor any participating exchange or
deemed to have been duly delivered and its association or agency or any supplier of market
content accepted by the Client if there is no data guarantees the timeliness, sequence,
intimation received by ICICI Securities within accuracy, completeness, reliability or content of
twenty-four hours from the date of delivery / market information, or messages disseminated to
display of the document. Nothing mentioned in or by the party. ICICI Securities, services are
this clause shall be applicable to ECNs since the provided on an “as available” basis without
same is governed by Exchange specified warranties of any kind, either express or implied,
rules/regulations prescribed from time to time and including, without limitation, those of
as mentioned in Rights and Obligations document merchantability and fitness for a particular
in this application form. purpose.
4 ICICI Securities agree that it, shall keep all 10. Neither ICICI Securities, nor any other party
Investment Products belonging to the Client in disseminating any data/message/ information
separate accounts & shall transact in the same through the Website shall be liable for any
based only on the directions of the Client or his inaccuracy, error, omission in or delay in the
power of attorney holder or as authorized by this transmission or delivery of:
Letter or as required by rules, regulation or law of (1)Any such data, information or message, or
any authority regulating the Investment Products (2) Any loss or damage arising from or occasioned
for the time being in force. by:
5. ICICI Securities shall credit the proceeds of the (i) Any such inaccuracy, error, delay or
sale/redemption etc. of any of the Investment omission,
Products only after ICICI Securities has received (ii)Non-performance, or
the same unless specifically agreed otherwise. (iii)Interruption in any such data, information or
The proceeds of all sales will be credited to the mes sage, due to either any act or omission by
Client’s Bank Account directly on the designated ICICI Securities, or any disseminating party or to
date. any “force ma jeure” (e.g., flood, extraor dinary
6. If the securities are not received on or before weather condition, earthquake or other act of God,
settlement date or securities received are not in fire, war, insurrection, riot, labour dispute,
deliverable state or due to any other reason accident, action of government, communications,
whatsoever, Client is not able to deliver securities,
34
power failure, equipment or software malfunction) or purported to have been sent from the Client other
any other cause be yond the reasonable than by means of verification of the Client’s
control of ICICI Securities or any disseminating password.
party. 15. The Client accepts full responsibility for the
11. All Investment Products now or hereafter held, monitoring and safeguarding of the Client’s
carried or maintained by ICICI Securities, in its accounts with ICICI Securities and ICICI Bank. The
possession or control, for any purpose, in or for Client shall immediately notify ICICI Securities and
the benefit of any of Client, now or hereafter ICICI Bank in writing, delivered via e-mail and
opened, including any account in which Client may Registered AD:
have an interest, shall be subject to a lien in favour (a) If the Client becomes aware of any loss, theft or
of ICICI Securities, for the discharge of all unaut-horised use of the passwords or digital
indebtedness and Client’s other obligations to signatures, as the case may be and account
ICICI Securities, and are held by ICICI Securities, as number; or (b) Any failure by the Client to receive a
security for the payment of any liability or message from ICICI Securities indicating that an
indebtedness of Client’s to ICICI Securities, in any order or an application was received and
of said Accounts. The Client autho-rises ICICI executed; or any failure by the Client to receive an
Securities to transfer the Investment Products and accurate confirmation of an execution; or (c) Any
other property so held from or to any other of receipt by the Client of confirmation of an order
Client’s Accounts with ICICI Securities, whenever, and/or execution which the Client has not placed;
in the judgment of ICICI Securities, it is considered or (d) Any inaccurate information in the account
that such transfer is necessary for the protection of balances, Investment Products positions, or
ICICI Securities interest. In enforcing ICICI transaction history.
Securities lien, ICICI Securities shall have the right 16. If the Client fails to notify ICICI Securities and ICICI
and discretion to determine which Investment Bank immediately upon the Client’s knowledge
Products and properties are to be sold and which when any of the above conditions occur, neither
contracts or positions are to be closed. In the event ICICI Securities and ICICI Bank nor any of its
of a breach or default by Client under this Letter, officers, directors, employees, agents,
ICICI Securities shall have all rights and remedies affiliates or subsidiaries can or will have any
available to a secured creditor under all applicable responsibility or liability to the Client or to any
law in addition to the rights and remedies other person whose claim may arise through the
provided herein. Client for any claims including but not limited to
12. The Client acknowledges, represents and warrants claims arising with respect to the handling,
that he has received/shall receive such passwords mishandling or loss of any order. Under no
or digital signatures, as the case may be, which circumstances, including negligence, shall ICICI
provides access to the Client Account and that the Securities and ICICI Bank or anyone involved in
Client is the sole and exclusive owner and shall be creating, producing, delivering or managing ICICI
used by him of such passwords or digital Securities and ICICI Bank be liable for any direct,
signatures, as the case may be, and accept sole indirect, incidental, special or consequential
responsibility for use, confidentiality and damages that result from the use of or inability to
protection of the password or digital signature, as use the service, or out of any breach of any
the case may be, as well as for all orders and other warranty.
information changes entered using such a 17. The use and storage of any information including,
password or digital signature, as the case may be. without limitation, the passwords or digital
Any order entered or application preferred using signatures, as the case may be portfolio
the passwords or digital signatures, as the case information, transaction activity, account balances
may be, shall be deemed to have been entered by and any other information or orders available on
the Client or his duly authorized agents/ the Client’s personal computer is at the Client’s
representatives. own risk and is the Client’s sole responsibility. The
13. The Client is aware that the transaction Client shall be solely responsible for providing and
statements, which would be provided to the Client maintaining the communications equipment
through Website or otherwise (as may be (including personal computers and modems) and
intimated to the Client), may be accessed by other telephone or alternative services required for
entities in case the confidentiality / secrecy of the accessing and using the web-site or related ser
password is compromised by the Client. vices, and for all communications service fees and
14. The Client grants express authority to ICICI charges incurred by the Client in accessing the
Securities for carrying out transactions and Website or related services.
instructions (a) authenticated by the password 18. The Client is authorised to use materials which are
provided to the Client or (b) entered by the made available by ICICI Securities services or of
registered intermediary on behalf of client. other third parties on the Website for Client’s own
ICICI Securities has no obligations to verify the needs only in accordance with the terms and
authenticity of any transaction instruction sent or
35
conditions specified for such usage, and Client is not reasonably possible/practicable for ICICI
authorised to resell access to any such materials or Securities to do so from the time of execution of
to make copies of any such materials for sale or order/trade on the National Exchange for
use by others. The Client will not delete copyright Automated Trading (NEAT)/ BSE On-Line Trading
or other intellectual property rights notices from (BOLT) system or such other third party as the case
printouts of electronically accessed materials. may be for effecting purchase/sale or preferring an
19. The Client understands that ICICI Securities may at application for an investment product, as the case
any time, at its sole discretion and without prior may be, or by means of electronic record, duly
notice to the Client, prohibit or restrict Client’s authenticated by ICICI Securities digital signature.
access to the use of the web-site or related The Client agrees that the information sent by ICICI
services or in any specific security and Client’s Securities by email is deemed to be a valid delivery
ability to trade. of such information by ICICI Securities.
20. The Client understands, agrees and authorizes 24. If the client does not wish to receive the contract
ICICI Securities at its discretion, and without notes in electronic format then the client will
further prior notice to the Client, to monitor and confirm the same in writing to ICICI Securities. The
record any or all telephone conversations client hereby opts to receive the contract notes for
between the Client on the one hand and ICICI the trades executed for him/her, is an electronic
Securities and any of ICICI Securities employees or form i.e. digitally signed contract notes (applicable
agents on the other hand and to monitor the if customer has not opted for physical contract
Client’s electronic communications conducted note in KYC form).
with ICICI Securities so as to enable them to 25. The Client understands that the terms and
maintain an audit trail of all the transactions conditions governing a specific investment
executed by the Client. product or service will be binding on the Client
21. The Client shall notify ICICI Securities within seven only if such product or service is made available to
days, of any change in the details set out in the the Client and the Client trades in that investment
application form submitted to ICICI Securities at product or avails of that particular service.
the time of opening the account or furnished to 26. The client understands and agrees that he is bound
ICICI Securities from time to time. by the online Terms and Conditions and
22. The Client acknowledges that he is fully aware of Frequently Asked Questions (FAQs) as posted on
the risks involved in online trading activities, the site or communicated by I-Sec and as modified
including the risk involved due to unauthorized from time to time. For products which are dealt on
access or any technical difficulties. The Client Stock Exchanges, ICICI Securities shall follow the
specifically agrees to hold ICICI Securities process as per the applicable rules and regulations
harmless from any and all claims, and agrees that of the concerned Stock Exchanges for changes in
ICICI Securities shall not be liable for any loss, terms and conditions.
actual or perceived, caused directly or indirectly 27. In case of short fall in margin ICICI Securities will
by government restriction, exchange or market check for availabilty of additional limits in clients
regulation, suspension of trading, war, strike, accountto see wheather adequate additional limits
equipment failure, communication line failure, are available to restore the margin level to the
system failure, security failure on the Internet, initial margin levels and if no such limits are
unauthorised access, theft, or any problem, available then the client’s open position may be
technological or otherwise, or other condition squared off by ICICI Securities , as its discretion
beyond the control of ICICI Securities that might 28. In case of change in margin % by the Stock
prevent the Client from entering an order or ICICI Exchange, ICICI Securities will have to change the
Securities, from executing an order. The Client applicable margin % immediately and any shortfall
further agrees that he will not be compensated by in margin on client open position due to the same
ICICI Securities for “lost opportunity” viz., notional will be dealt in the same manner as specified
profits on buy/sell orders, which could not be above.
e x e c u t e d . Fu r t h e r m o r e , i n a t e c h n i c a l 29. Client agrees that no interest shall be payable by
environment, should an error occur with respect to ICICI Securities to Client, on client margin money
the tracking of any account holding or order entry, or pay-in / payout obligation funds lying with ICICI
the true, actual and correct transaction or Securities which may have been accrued on such
position will be restored. It shall be Client’s funds.
responsibility to ensure account correctness and 30. The Client hereby agrees to indemnify ICICI
accuracy and to contact ICICI Securities, Securities and ICICI Bank against any loss (actual
immediately in respect of any discrepancies. or notional), costs, expenses etc., which may be
23. ICICI Securities may send the order/trade suffered by ICICI Securities and/or ICICI Bank and
confirmation slip/online intimation of successful/
unsuccessful applications through e-mail to the
Client, within such period as prescribed or

36
their Group Companies, or against any claim, demand, the Contract may be assigned to the Client and in
action, proceeding that may be initiated against such an event the Client undertakes to Buy the
ICICI Securities and / or ICICI Bank, in connection Underlying in case of Put and sell the Underlying in
with this Letter or non-compliance of any case of Call. However, if the Contracts are settled in
applicable rules and regulations or arising out of or cash, the Client would have to pay or receive the
in connection with due to a breach of any of the cash in case of an assignment. The Client
Client obligations under Right and Obligation understands that there can be part Assig-nment as
document, Risk Disclosure document, Policies and may be decided by the Stock Exchange in its sole
Procedures and Guidance Note, Rights and discretion.
Obligations of Beneficial Owner and/or this Letter. 1. The client understands that whenever he places an
31. The client undertstands that in case account Options Sell (Buy) order in the derivatives
opening application or an application for investing segment of, which results in a position, a Trigger
or subscribing to any other product/service is price is calculated (as per the formula displayed on
rejected then ICICI Securities and ICICI Bank is not site) which is displayed in the Open positions
bound to return the application form/ KYC book. Whenever the Underlying price of the shares
documents and the same will be destroyed by goes above (below) the Trigger price in case of Sell
ICICI Securities or ICICI Bank in case of rejections. Call (Put), the Contract would enter the Mark to
Market process.
IX. TERMS AND CONDITIONS GOVERNING 2. The Client understands and agrees that I-Sec may,
TRADING IN FUTURES AND OPTIONS at its sole discretion, determine the frequency and
THROUGH ICICI SECURITIES LIMITED (FOR the time for running the Mark to Market Process,
NON SPAN MARGIN CUSTOMERS) the process by which ICICI Securities shall identify
“Available margin”, unless otherwise specifically open positions in the Derivatives segment for
described for a product, shall mean margin which Available margin is below the Minimum
calculated by deducting intra day MTM loss on a Margin and take steps, for collecting the required
position under any facility offered by ICICI additional margin or squaring off such positions. In
Securities at any given point in time from the case of short fall in margin ICICI Securities will
Margin blocked at that point in time. The Client check for availability of additional limits in clients
agrees that it will be the client’s responsibility to account to see whether adequate additional limits
ensure that the available margin with ICICI are available to restore the margin level to the
Securities is always above the minimum margin initial margin levels and if no such limits are
levels specified for the respective positions. The available then the client’s open positions may be
client agrees that since ICICI Securities provides squared off by ICICI Securities, at its discretion.
trading facility through internet it may not be The Client understands and agrees that the said
possible for it to inform the client about short fall in process is run at stipulated intervals and not run on
margin, if any, on a one to one basis. The client a real time basis. The Client is aware that the
agrees to monitor his position on a continuous process identifies shortfall on individual position
basis and do the needful as ,may be required, to level, except in case of spread position. Square off
safeguard his position. is initiated Lot wise for each position after which
Exercise: In case of European option, the Client the system recalculates margin requirements and
can place an exercise request only on the Last date then initiates further square off. For treatment
of the contract. The exercise request can be placed regarding spread positions and other details on
only at specified time intervals when the exercise the features of the products, the client is aware that
market is open. On the Expiry day of the Contract, he will have to refer the online Terms and Condit-
the exchange would automatically exercise the ions on the site. ICICI Securities shall not be
(Call/Put) Buy position in case the Position is In-the- required to make a margin call or otherwise inform
Money. the Client that the margin as furnished by the Client
In case of exercise request placed by the Client or has fallen below the required level and it shall be
exercised by the Stock Exchange. The exercised the responsibility of the Client to regularly monitor
request is reduced from the open positions in the and review the Margin availability and furnish the
Marginable sell order position. Hence the sell additional Margin to ICICI Securities.
order position would be subject to Margin require- 3. The Client agrees that ICICI Securities shall have
ment, if the quantity of sell order exceeds the the discretion to select contracts that will be
differ-ence between the buy position and the enabled for trading in Futures and the individual
exercise request quantity. If the Exercise Request margin percentage, both Minimum margin and
is not accepted by the exchange at the end of the Initial margin, in the F&O segment. The Margin
day, the Exercise Request is marked as rejected at may be taken in cash or in form of securities as
the end of the day. may be acceptable to ICICI Securities.
Assignment: In case the Client has a Sell position, 4. The Client agrees that Margin is blocked only on
those new future orders, which may result into

37
underlying apart from blocking Initial Margin required different contracts as it deems fit in its sole
on fresh positions. This Deficit Margin and Deficit discretion as necessary for Risk mitigation. This
Loss on existing positions will also be deducted margin requirement may be more than the margin
from the limits of the client at the time of order prescribed by the Stock Exchange. The margin
placement. Client agrees that if existing limits of may be taken in cash or in form of securities as
the Client is not sufficient to meet the Deficit may be acceptable to ICICI Securities. In event the
Margin and Deficit Loss on existing positions, then Client offers securities as margin to ICICI
the Client will not be allowed to place fresh orders Securities, then the Terms and conditions as
in such underlying. Client understands that same hereunder shall apply.
process will be followed of blocking Deficit Margin 8. The Client agrees to provide required Margin
and Deficit Loss on existing positions while (including additional Margin) as may be
making any modification to any pending orders determined by ICICI Securities from time to time.
under same underlying which are yet to be The Client agrees that ICICI Securities may, in its
executed. sole discretion, require the Client to provide
4. However, if the Client places a cover order which is additional / further margin depending upon the
a square off order meant to reduce existing Client’s positions, in form and manner acceptable
positions, system will block the limits to recover to ICICI Securities. If the available Limit is not
Deficit Margin to the extent the limits are available sufficient to meet the demand for additional
and allow the order to be accepted. Client Margin, ICICI Securities may close out the open
understands that once the cover order gets position taken by the Client and the Client shall be
executed, realised profit or loss amount on the solely responsible for any losses arising out
squared off positions is adjusted in the limits and account of the same. The client is aware that
margin for underlying portfolio is recomputed and client’s have been provided with tools on the
blocked to the extent of available limits. Client website itself where the client can ascertain
agrees that if sufficient margin is not available on details of existing margin blocked, margins
cover order execution then ICICI securities shall required, MTM loss adjustment, margin
mark the customer’s open positions in the same percentage, highlighting of open positions in a
underlying for square off if the available margin particular colour where available margin has fallen
falls below minimum margin. ICICI Securities at its below minimum margin requirement, etc. The
discretion will run the intra day MTM process for margin requirement derived by use of these tools
squaring off such positions marked for square off would be construed as demand/margin call for the
due to margin shortfall . additional margin required by I-Sec. The client is
5. The Client agrees that ICICI Securities shall require required to regularly monitor and review the
the Client to provide Deficit Margin on existing Margin availability and furnish the additional
positions, if any, under a particular underlying at Margin to ICICI Securities. ICICI Securities reserves
the time of cancellation of unexecuted order in the the right to close out the open position at any time
same underlying. This Deficit Margin on existing (without consulting the Client) in case the Client
positions will be deducted from the limits of the does not satisfy the additional Margin
client at the time of order cancellation. Client requirements. The Client undertakes to maintain
agrees that if existing limits of the Client is not sufficient limits to safeguard the open position
sufficient to meet the Deficit Margin on existing from being squared off or pending orders from
positions, then the Client will not be allowed to being cancelled.
cancel pending orders in such underlying. Further, 9. The Client agrees that ICICI Securities may, in its
the Client agrees that if sufficient margin is sole discretion, change the margin requirement on
available to meet the Deficit Margin requirement Transactions where the Client has taken or
then cancellation of order would be allowed and in proposes to take a position and/or require the
addition deficit loss under the existing underlying Client to provide additional / further margin,
positions, if any, will be blocked to the extent of depending on its own risk mitigation measures
available limits. and without intimating or consulting the Client.
6. The Client agrees that ICICI Securities shall require 10. In case of upward revision of the margin
the Client to provide Deficit Margin and Deficit requirement, the Client agrees to allocate
Loss on existing positions, if any, under a particular additional margin (in form of cash or securities as
underlying after each trade execution in the same may be acceptable to ICICI Securities) to continue
underlying. This Deficit Margin and Deficit Loss on with open position taken in connection with the
existing positions will be deducted from the limits Transaction. The Client further agrees that ICICI
of the client post trade execution. Securities shall have the discretion to select
7. The Client agrees that ICICI Securities may require stocks/ contracts that will be enabled for trading in
the Client to provide such margin (in such form the Futures or Options and the margin
and manner as acceptable to ICICI Securities) requirement on such contracts.
depending on the Stock and market volatility on 11. Available margin: When the IMTM process is run,

38
increased risk exposure. For calculating the margin at market. Margin blocked on such expired position
order level, values of all buy orders and sell orders will also be released and the Limits would be
(in the same underlying-group as may be appropriately increased after adjusting profit/loss
determined by ICICI Securities) is arrived at. on close out.
Margin is levied on the higher of two i.e. if buy X. TERMS AND CONDITIONS GOVERNING
order value is higher than sell order value, only buy TRADING IN FUTURES AND OPTIONS (FOR
orders will require Margin being furnished and SPAN MARGIN CUSTOMERS) THROUGH
vice versa. ICICI SECURITIES LIMITED
5. Spread position: Spread position would attract “Deficit Margin” is the amount of excess margin
Spread Initial Margin Percentage (SIM) and Spread arising out of difference between revised Initial
Minimum Margin Percentage (SMM) in connection Margin computed considering latest risk
with margin calculation instead of Initial Margin parameter file received from
Percentage and Minimum Margin Percent-age. exchange/prices/margin percentage and Initial
Spread position value is calculated by multiplying Margin already blocked on existing positions of
the weighted average price of position in far month the Client.
contract and spread position quantity. Spread “Deficit Loss” is the amount of excess notional loss
margin percentage is then applied to spread arising out of difference between revised notional
position value to arrive at spread margin. ICICI loss computed considering latest prices and
Securities shall in its sole discretion, determine the notional loss amount already blocked on existing
contracts which can form spread positions against positions of the Client.
each other. 1. The Client agrees that SPAN based margining
6. Margin is blocked only on orders that result in an system provided by ICICI Securities consolidates
increased Risk exposure. Margin may not be and groups various positions taken by the Client in
recovered from an order, which is cover in nature. Futures as well as Options contracts at underlying
If a Position of opposite nature is present then the level and computes margin requirement for each
Order is reduced by the opposite position, if the underlying by clubbing all the contracts/positions
opposite position is greater than the order, then of the same underlying in one group instead of
the order may not require Margin. However, ICICI contract wise margining. The Client understands
Securities shall have the sole discretion to that clubbing of contracts/positions of the same
determine the Margin Requirement. underlying for computation of required margin
7. Split of Contract: In case of contracts which fall would be done either at order level (pending
under Spread Position, four (4) calendar days (or execution)or at trade level (post execution),
such other number of days as determined by ICICI depending on the contract type in which the Client
Securities from time to time) prior to the expiry of a has placed an order or created a position, at the
contract, open position of that contract would be discretion of ICICI Securities.
taken out of Spread Position and subjected to 2. Client understands that there could be scenarios
normal Initial Margin requirement. Position in such wherein margin charged at position/trade level
separated contracts would be shown separately. can substantially increase as compared to the
Limits would be reduced appropriately to apply margin charged at order level. If the Client does not
Initial Margin on near month contract. If Limits are maintain sufficient margins required to meet the
insufficient for application towards the Initial new Initial Margin requirement post trade
Margin requirement, the Margin available in a execution then ICICI Securities may square off
group from which the near month contract was such positions while running Intraday Mark to
moved will also be utilized to make good the short Market (IMTM) process at its sole discretion
fall. After moving the near month contract from the without consulting or intimating the Client and the
existing group to separate group, Margin Client shall be solely responsible for any losses
requirement for the existing group will be re- arising on account of the same.
calculated and Limits would be reduced 3. The Client agrees that Client will have to make
appropriately. available sufficient limits to provide Initial Margin
8. In case of option contracts, if the Client does not required before taking positions in Futures and
square off the transaction till the last day of the Options. The Client agrees that margin shall be
contract, the position will be marked as closed off blocked at the applicable Margin requirement
and the same cannot be exercised or assigned. based on the latest risk parameter file received
9. In case of Future contracts, in case the contract from Exchange/Clearing House. The Client agrees
remains open till the contract expires, ICICI that ICICI Securities shall require the Client to
Securities as well as the Exchange would expire provide Deficit Margin and Deficit Loss on existing
the position on the last day of contract after positions, if any, under a particular underlying at
running EOD MTM Process and the position would the time of placement of fresh order in the same
be closed at the closing price of the spot (equity)

39
Available Margin is calculated by adding or deducting shortfall), then ICICI Securities reserves the right to
notional profits or losses respectively on open recover such penalty from the Client by debiting
Futures as well as Short Options positions from the linked bank account of the Client or selling
Margin blocked with respect to an underlying. securities of appropriate value from the linked
When the available margin is below the Minimum demat account of the Client. Client is liable to pay
Margin required, New(revised) Initial Margin such penalty amount forthwith to ICICI Securities
required on existing underlying portfolio when demanded by ICICI Securities if
(including open positions and pending orders) is funds/securities in the linked bank/demat account
re-calculated by taking latest SPAN margin are insufficient to meet the penalty amount.
calculated as per latest risk parameter files and XI. MISCELLANEOUS:
latest exposure margin calculated at Current 1. The client is aware that ICICI Securities Ltd. and
Market Price (CMP) of respective futures contract ICICI Bank Ltd. with its subsidiaries and affiliates
positions and at Current Market Price (CMP) of (collectively referred to as “group companies”) are
underlying of respective Short Options positions. engaged, inter alia, in asset management,
Risk management system then computes Deficit insurance, custodial services, securities trading,
Margin and Deficit Loss to arrive at Total Deficit. If securities brokerage, banking services as well as
the Limits of the Client is sufficient to meet the Total providing investment banking and financial
Deficit, ICICI Securities would block additional advisory services etc. ICICI Securities Ltd. / ICICI
Margin required out of the Limits available. In case Bank Ltd. are also engaged in distribution of third
Limits are not sufficient to meet the additional party products and act as Merchant Banker,
Margin requirements then ICICI Securities may Investment Adviser and a Banker to public issues /
place a square off order for appropriate quantity as offers and may hold proprietary positions in
it deems fit at market rate to close the position and various products and avail on their own account
the Client shall be solely responsible for any losses various services offered by them and their group
arising out of the same. However, before placing companies under different capacities. ICICI
square off order all pending orders in that Securities Ltd. / ICICI Bank Ltd. shall at all times
underlying (contracts having same underlying) maintain high standards of integrity in the conduct
may be cancelled by ICICI Securities. ICICI of their business and ensure fair treatment of its
Securities shall determine, at its sole discretion, clients and thereby also avoid any possible conflict
which contracts of a particular underlying are of interest in providing fair and unbiased services
required to be squared off due to margin shortfall. to clients. In order to avoid all possible sources and
12. ICICI Securities reserves the right for inclusion or potential conflict of interest, ICICI Securities Ltd. /
exclusion of contracts/positions for computation ICICI Bank Ltd. and its group companies have put
of notional profits or losses for arriving at Available in place various measures like (a) complying with
Margin and ICICI Securities may decide not to give applicable laws and acting in good faith and
any benefit of notional profits while computing interest of customer at all points in time (b) having
Available Margin at its sole discretion. in place a conflict of interest policy (c) dealing with
13. The Client understands that ICICI Securities has group companies under arms length principle (d)
also provided a facility to the Client wherein Client strong Chinese walls to prevent flow of customer
himself can run IMTM process to ascertain and information and ensuring customer confidentiality
block the additional margin requirements on Client and privacy.
open positions in a particular underlying at the 2. The Client shall not assign any right and
time of running IMTM process. The IMTM process obligations hereunder without first obtaining the
will consider blocking additional margin on prior written consent of ICICI Securities. ICICI
underlying portfolios whose Available Margin has Securities and ICICI Bank, may, however, assign
fallen below Minimum Margin required on such their rights and obligations to any third person
portfolios. If the margin made available by the without the prior consent of the Client. However, in
Client is insufficient to meet the revised Initial case of merger/ demerger of the ICICI Securities
Margin requirement, then the underlying will be Ltd with another entity / into another entity or any
marked for square off i.e. the positions in such other corporate restructuring, ICICI Securities shall
underlying will be squared off by ICICI Securities follow the process as per the applicable rules and
for appropriate quantity as it deems fit when IMTM regulations of the concerned Stock
process is run by ICICI Securities. Exchanges/Regulators.
14. The Client agrees that ICICI Securities, in its sole 3. The Client agrees that the Client would be able to
discretion, shall determine the sequence in which exercise the right to close/ freeze any of the
positions need to be squared off in case of margin accounts with ICICI Securities only if there is no
shortfall in an underlying and shall at its discretion obligation pending to be met by the Client in
square off the riskiest positions first. favour of either ICICI Securities or towards any
15. Client agrees that if any penalty is levied upon ICICI other third party through ICICI Securities in any
Securities by Exchange/Clearing House due to form.
short margin collection from the Client (margin
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4. The invalidityor unenfo-rceability of any obligations in respect of such transactions.
provisions of this Letter in any jurisdiction shall 9. No forbearance, relaxation, failure or delay by ICICI
not effect the validity, legality or enforceability of Securities or ICICI Bank in exercising any right,
the remainder of this Letter in such jurisdiction or power or privilege hereunder shall operate as a
the validity, legality or enforceability of this Letter, waiver thereof nor shall any single or partial
including any such provision, in any other exercise of any other right, power or privilege. The
jurisdiction, it being intended that all rights and rights and remedies available to ICICI Securities
obligations of the Parties hereunder shall be and ICICI Bank herein provided shall be cumulative
enforceable to the fullest extent permitted by law. and not exclusive of any rights or remedies
5. The heading of each provision thereof is for provided by law.
descriptive purposes only and shall not be 10. Any legal action or proceedings arising out of this
deemed to modify or qualify any of the rights or Letter pertaining to dealings in stock market shall
obligations set forth in each such provision. be brought in the relevant courts or tribunals as
6. The Client shall at all times continue to be provided in relevant / concerned Stock Exchange
responsible for any transaction ordered on his Rule, Regulation, byelaws and Circulars. For other
accounts prior to the cancellation of the products ICICI Securities and/or ICICI Bank, in their
services. If the service is withdrawn for a reason absolute discretion can opt to commence the legal
other than the breach of the terms and conditions action or proceedings arising out of these Letter in
by the Client, the liability of ICICI Securities the appropriate courts, tribunals or other
shall be restricted to the return of the annual appropriate forum, and the Client irrevocably
charges, if any, recovered from the Client for the submits to the exclusive jurisdiction of such courts
period in question. The closure of the accounts of and tribunals.
the Client shall automatically terminate the web 11. I hereby confirm that details as provided by me
based brokerage service facilitated by the above can be shared by I-Sec with the concerned
Website and ICICI Securities may suspend or Asset Management Companies (AMCs) or such
terminate online trading facilities without other product providers, to whom FATCA norms
prior notice if the Client has breached these terms are applicable, in whose schemes/ products I may
and conditions or it learns of the death, invest/transact in future through I-Sec.
bankruptcy or lack of legal capacity of the Client. 12. I understand that my signature may be mandatory
7. The Client agrees that ICICI Bank and / or ICICI on certain online application forms. To enable
Securities may forthwith terminate this Letter of seamless processing of such online application
Confirmation by giving a notice to the Client forms, I authorize ICICI Securities Limited to affix
electronically or otherwise. the scanned image of my signature, as available in
8. The Client agrees that in event the Client desires its records, on the physical printout of such
to terminate this letter of confirmation executed investment applications for dispatch to the
by the Client in favour of ICICI Securities and ICICI Registrar / AMC / Corporates / Banks / Financial
Bank, the Client shall give a written notice to ICICI lnstitutions / Credit Bureaus / Agencies / such other
Securities and ICICI Bank of its intention to so do, persons as ICICI Securities Ltd/ICICI Bank Ltd/its
at least 30 (thirty) days in advance and shall Group Companies may deem necessary and/or
obtain written acknowledgment of the receipt of appropriate for further processing of the
the notice from ICICI Securities and ICICI Bank. instructions.
Such termination shall not have any effect on the
transactions executed before the date of such
notice of termination and the parties shall enjoy
the same rights and shall have the same

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