To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.
Sl. No. | Activities | Expected Timelines |
1. | KYC entered in KRA System and CKYCR | 3 days of account opening |
2. | Client Onboarding | Immediate, but not later than one week |
3. | Order execution | Immediate on receipt of order, but not later than the same day |
4. | Allocation of Unique Client Code | Before trading |
5. | Copy of duly completed Client Registration Documents to clients | 7 days from the date of upload of Unique Client Code to the Exchange by the trading member |
6. | Issuance of contract notes | 24 hours of execution of trades |
7. | Collection of upfront margin from client | Before initiation of trade |
8. | Issuance of intimations regarding other margin due payments | At the end of the T-day |
9. | Settlement of client funds | First Friday/Saturday of the month / quarter as per Exchange pre-announced schedule |
10. | ‘Statement of Accounts’ for Funds, Securities and Commodities | Monthly basis |
11. | Issuance of retention statement of funds/commodities | 5 days from the date of settlement |
12. | Issuance of Annual Global Statement | 30 days from the end of the financial year |
13. | Investor grievances redressal | 21 days from the receipt of the complaint |
DOs |
DON’Ts |
---|---|
Read all documents and conditions being agreed before signing the account opening | Do not deal with unregistered stockbroker. |
Receive a copy of KYC, copy of account opening documents and Unique Client Code. | Do not forget to strike off blanks in your account opening and KYC. |
Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes. | Do not submit an incomplete account opening and KYC form. |
Receive all information about brokerage, fees and other charges levied. | Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system. |
Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions. | Do not transfer funds, for the purposes of trading to anyone other than a stock broker. No payment should be made in name of employee of stock broker. |
If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted. | Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed. |
Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades. | Do not opt for digital contracts, if not familiar with computers. |
Receive funds and securities / commodities on time within 24 hours from pay-out. | Do not share trading password. |
Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges. | Do not fall prey to fixed / guaranteed returns schemes. |
Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (30 or 90days). | Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits. |
In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines. | Do not follow herd mentality for investments. Seek expert and professional advice for your investments. |
1. | Investor complaint/Grievances | Investor can lodge complaint/grievance against stock broker in the following ways: Mode of filing the complaint with stock broker Investor can approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance. Mode of filing the complaint with stock exchanges I. SCORES 2.0 (a web based centralized grievance redressal system of SEBI) (https://scores.sebi.gov.in) Two level review for complaint/grievance against stock broker: First review done by Designated body/Exchange Second review done by SEBI. II. Emails to designated email IDs of Exchange. |
2. | Online Dispute Resolution (ODR) platform for online Conciliation and Arbitration | If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration |
3. | Steps to be followed in ODR for Review, Conciliation and Arbitration | 1. Investor to approach Market Participant for redressal of complaint 2. If investor is not satisfied with response of Market Participant, he/she has either of the following 2 options: i. May escalate the complaint on SEBI SCORES portal. ii. May also file a complaint on SMARTODR portal for its resolution through online conciliation and arbitration. 3. Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavor to resolve the matter between the Market Participant and investor within 21 days. 4. If the matter could not amicably resolved, then the matter shall be referred for conciliation. |
Following steps are carried out by Stock Exchange for benefit of investor, in case stockbroker defaults:
Following information is available on Stock Exchange website for information of investors:
Level 3 – The complaint not redressed at Stock Broker / Stock Exchange level, maybelodged with SEBI on SCORES (a web based centralized grievance redressal systemof SEBI) @ https://scores.gov.in/scores/Welcome.html
Vachana Investments Pvt Ltd: Member of NSE & BSE – SEBI Registration no.: INZ000248337 CDSL: Depository services through Vachana Investments Pvt Ltd. – SEBI Registration no.: 120-79100, Registered Address: Vachana Investments Pvt Ltd.., #No. 32, 2nd Main Road, 1st Floor, Vyalikaval Extension, Bhashyam Circle, SadashivNagar, Opp. Bharat Petrol Pump, Bangalore – 560003, Karnataka, India. For any complaints pertaining to securities broking please write to support@vachanainvestments.in, for DP related to dp@vachanainvestments.in. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI | ICF
Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances
Investments in securities market are subject to market risks; read all the related documents carefully before investing.
Attention investors: 1) Stock brokers can accept securities as margins from clients only by way of pledge in the depository system w.e.f September 01, 2020. 2) Update your e-mail and phone number with your stock broker / depository participant and receive OTP directly from depository on your e-mail and/or mobile number to create pledge. 3) Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.
“Prevent unauthorised transactions in your account. Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day. Issued in the interest of investors. KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” Dear Investor, if you are subscribing to an IPO, there is no need to issue a cheque. Please write the Bank account number and sign the IPO application form to authorize your bank to make payment in case of allotment. In case of non allotment the funds will remain in your bank account. As a business we don’t give stock tips, and have not authorized anyone to trade on behalf of others. If you find anyone claiming to be part of Vachana and offering such services, please write to us at compliance@vachanainvestments.in
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