6. I/We authorize the bank to debit all types of bank charges/commission/fees payable by me/us to my/our PIS Savings Bank Accounts
/ Normal Savings Bank Accounts (NRE/NRO) that are linked to the respective PIS Accounts (NRE/NRO). I/We undertake that adequate balance
shall be maintained by me/us in the respective Savings Bank accounts to facilitate the debiting of interest and service charges. The failure on
part of me/us to maintain sufficient balances in the accounts shall not in anyway impair the right of the Bank to claim/recover the entire amount
due, including interest and services charges in full, by any means in whatsoever manner, including by debit to any other accounts maintained by
me/us with IDBI Bank.
7. I/We understand that Funds Transfer from normal SBNRE A/cs to PIS SBNRE A/cs and vice versa is only allowed. Similarly, Funds Transfer from
normal SBNRO A/cs to PIS SBNRO A/cs and vice versa is allowed and from normal SBNRE A/cs to normal SBNRO A/cs is only allowed.
8. I/We undertake to provide all the necessary documents/clarifications whenever required by the bank. I/We understand that the PIS Account will
be used only for bonafide transactions relating to PIS that does not involve any violations of the provisions of any Government/Exchange Control
Regulations and I/We shall be solely liable for any action initiated by any of the regulatory authorities concerned.
9. I/We also state that I/We am/are solely liable for any non-compliance of the SEBI/RBI Regulations as well as FEMA Regulations or any other
relevant directives/guidelines that may be in force on account of my/our PIS accounts
10. I/We agree and confirm to bear any losses or claims that may arise directly/indirectly on account of the Bank acting on any instructions received
by it by fax or any electronic media given by me/us or on my/our behalf and agree to keep the Bank indemnified from any such losses and/or
claims.
11. While opening PIS Account with IDBI Bank, I/we would ensure that all my/our shares would be held in dematerialized form and no shares would
be held in physical form. I/We would also ensure that inter-Demat transfers would not be carried out by me/us under the PIS scheme within
my/our other Demat accounts (PIS/Non-PIS) or to any third party through Delivery Instruction Slip (DIS) or otherwise.
12. I/We agree that if PIS account is transferred from any other bank to IDBI bank, then I/We shall furnish a 'No Objection Certificate' from my/our
present banker along with relevant Annexure as specified by the Bank with a latest copy of the Demat statement of securities.
13. My/our accounts shall be opened and I/we shall start trading on Recognized Stock Exchange only after closure of the existing PIS account with
the previous bank and on receipt of intimation from IDBI Bank.
14. I/We shall not undertake following transactions, either intentional or otherwise
a. Non delivery based transactions
b. Intra-day purchase & sale or vice versa
c. Speculative transactions
d. Short-selling transactions
e. Same day square-off
f. Auction transactions (purchase/sale auctions)
g. Off-market transfers
15. I/We shall not purchase Banned/Cautioned scrips that are prohibited by RBI. In case of default, I/We shall arrange to sell the same immediately
and losses and applicable charges, if any, on account of such transactions will be borne by me/us and I/we shall be responsible for legal
consequences, if any. Further, the First In First Out (FIFO) method of Capital Gain computation shall be effected and accordingly Tax shall be
deducted at source.
16. In case of delay, default, non-compliance, non-provision of details from Me/Us/ Broker within prescribed time, I/we shall be solely responsible for
the following consequences
a. FIFO method of Capital Gains computation (period of holding) for such transactions and subsequent transactions shall be impacted
b. Tax may be deducted on gross sale proceeds at the maximum marginal rate.
c. Any delayed credit to my respective accounts. Further, the sale proceeds may be credited to my Non-Repatriable Accounts or shall
be kept on hold by the Bank till I/we submit required details to the Bank
d. Additional fee/charges, if any, charged by the Bank without holding the Bank responsible for the same
e. Incorrect Reporting to RBI and non-compliance with respect to other Legal entities like Company Law, FEMA, Income Tax.
f. Any legal consequences, be it tax-related, interest, penalty, prosecution or otherwise
17. In case I/we wish to acquire Cautioned scrips or Gift shares as per the relevant statute, I/we would take specific permission from RBI for the same
18. I/We understand that the purchase of equity shares/convertible debentures in each company with repatriation and non-repatriation benefits
shall not exceed 5% (or as prescribed by Reserve bank of India from time to time) of the paid up capital of the company, subject to an overall
ceiling of 10% (or as prescribed by Reserve Bank of India from time to time) All consequences of failure in such compliance, including any losses
arising out of reversal of transactions shall be to our account.
19. I/We shall ensure that sufficient balances to cover full purchase consideration of securities are maintained in the PIS Savings Bank Accounts
(NRE/NRO) while placing purchase requests with my/our broker.
20 I/We authorise the bank to debit my/our PIS A/C (NRE/NRO) for equivalent value of contract note for purchase transactions received from SEBI
registered stock broker.
21. I/We shall ensure that my/our depository account (Demat account) contains free shares for delivery, prior to placing any sale order with my/our
broker.
22. I/We also state that I/We shall not involve or hold the bank responsible for any dispute between me/us and my/our Broker.
23. I/We shall intimate the bank about any change in the status of security holdings on account of Corporate Actions or otherwise (IPO/FPO, Rights,
Buy Back, ESOP, Inheritance, Gift, etc.,) to facilitate proper reporting under NRE/NRO PIS to RBI and Capital Gain computations as per the
Income Tax Act, 1961.
24. I/We shall report all secondary market transactions done through SEBI registered Stock Broker on recognized stock exchange and on the same
day arrange to submit the original contract note of the transactions to the Bank from such Stock Broker
25. I/We hereby state that I/we shall not hold the bank responsible for any loss on account of non-reporting of the purchase of shares
(Rights/IPO/Secondary markets, etc.,) before their sale. I/We agree that in case of late reporting by me, the date of reporting/date of
dematerialization (whichever is later) be considered as the date of acquision for the calculation of Capital Gains Tax.
26. I/We understand that no net credits/debits for the day's transactions shall be permitted i.e. gross settlement shall be done. All individual
transactions in the PIS accounts shall be reflected at their full value.
(NRE/NRO)
6