AGREEMENT BETWEEN THE SARAS ENGINEERING
SERVICES AND THE PERSON SEEKING THE SERVICES UNDER
SARAS SHARE PORTFOLIO MANAGEMENT (SSPM)
I (hereinafter called 'the client')
agree with the conditions as cited below. Saras
Engineering Services (hereinafter called 'SES')
having its Office at 3-10-51/F, Gokhale Nagar, Ramanthapur,
Hyderabad - 500013 is the SSPM service provider.
Witnessed WHEREAS the client has a Demat account
and Trading account with the Depository Participant
and a Savings / Current Bank Account linked to the
Trading account with Bank as accepted by the DP.
NOW THEREFORE in consideration both the parties
to the agreement hereby covenant and agree as follows:
1. The client shall pay such charges
to the Saras Engineering Services (SES) as set out
in Schedule 'A' for the services listed in clause
2. The client shall give the online
trading account user ID and password initially.
It will be maintained by SES and will be provided
to the client as and when requested.
3. The client shall give the user
id and password of Savings Bank Account linked to
the Demat trading account for enabling SES to transfer
funds towards purchase of stocks. The password will
be maintained by SES, will not be disclosed to anyone
without client permission and will be provided to
the client as and when requested.
4. The funds in the linked Savings
/ Current Bank account will be used by SES only
to transfer funds to DP account for purchase of
5. The client shall give instructions
through email to SES, (a.) The stock name and code
as per NSE /BSE to buy or sell. (b.) Amount should
be made available in the linked Saving / Current
Bank account to buy stocks from NSE or BSE. (c.)
Amount of money in Rs. to buy the stocks. (d.) Amount
to be invested in IPO etc public issues. (e.) The
stock, quantity and rate to be sold. (f.) Amount
required on sale of existing stocks from the account.
6. Saras Engineering Services (SES)
will operate the trading account and linked Saving
Bank account, for carrying out the instructions
given by email of the client and for rendering such
services as buying or selling stocks of Indian listed
companies either in National Stock Exchange (NSE)
or Bombay Stock Exchange (BSE) with the transfer
of necessary funds from linked Savings Bank account.
7. The SES shall reserve the right
to revise the SSPM service charges by giving not
less than thirty days notice in writing to the Client
or for this purpose notice will be displayed in
the office and an email will be sent to the client.
8. The client shall get the securities
9. The SES hereby undertakes that
it shall maintain a separate account of the client
of its own securities held in dematerialized form
with the Depository and shall not commingle the
same with the securities held in dematerialized
form on behalf of the client.
10. SES undertakes to provide a
transaction statement including statement of accounts,
if any, to the client at monthly intervals on request.
However, if there is not transaction in the account,
then SES shall provide such statement to the client
atleast once in a quarter.
11. SES shall have the right to
terminate this agreement, for any reason whatsoever,
provided SES had given a notice on writing of not
less than thirty days to the client. Similarly,
the client shall have the right to terminate this
agreement and close his/her account held with SES,
provided no charges are payable by him/her to SES.
12. The Client further agrees that
in the event of the Client committing a default
in the payment of any of the amounts provided in
clause (1) within a period of thirty days from the
date of demand, without prejudice to the right of
SES to close the account of the client, SES may
charge interest @ not more than 24% p.a. or such
other rate as may be specified by SES from time
for the period of such default. In case the Client
has failed to make the payment of any of the amounts
provided in clauses (1) of this agreement, SES shall
have the right to discontinue the SSPM services
till such time he/she makes the payment along with
interest, if any after giving two days notice to
13. On the failure of the client
to pay the charges as laid down in clause (1) of
this agreement within a period of thirty days from
the date of demand, SES may terminate this agreement
and close the account of the Client by transferring
the funds to the extend of dues to SES bank account.
14. SES shall have a right to provide
such information related to the Client's account
as may be requested by the Regulatory Body like
SEBI or other such organizations from time to time.
15. SES shall not be liable to
Client in any manner towards losses, liabilities
and expenses arising from the claims of third parties
and from taxes and other governmental charges in
respect of securities credited to the Client's account.
16. The profit or loss for the
sale or purchase of stocks goes to the client account
and SES is not responsible and liable for losses
if the market value declines from the purchased
values. Similarly, the profit is not shared when
the market values rises from the purchased values.
17. The Client shall notify SES,
within seven days, of any change in the details
set out in the application form submitted to SES
at the time of opening of the account or furnish
to SES from time to time.
18. SES undertakes to resolve all
legitimate grievances of the Client against the
SES within a period of thirty days.
19. SES and the Client shall abide
by the arbitrator and conciliation procedure prescribed
under the Indian Bye Laws and that such procedure
shall be applicable to any disputes between SES
and the Client.
20. SES and the Client further
agree that all claims differences and Disputes,
arising out of or in relation to services under
clause (5) shall be subject to the exclusive jurisdiction
of the courts at Hyderabad only.
No or Yes