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POLICY REGARDING “INACTIVE ACCOUNT”

What is an “Inactive Account”?

“Inactive Account” shall means a trading account opened by a client/constituent, with Finvasia Securities Private Limited (“a Company”) in which no trading activity is carried out in the said account for a continuous period of six(6) months, from the date of last trade.

Upon a trading account having been identified as an Inactive Account, in the clients/constituent interest, the said account shall be treated, as “temporarily suspended for activity”

However if any of these clients are identified as inactive the provisions are made to transfer their credit balance & collaterals to their respective bank a/c’s & demat a/c.

Intimation to this effect may be sent to the registered e mail id of the client upon temporarily suspension of the account in the system.

Procedure to activate an Inactive Account:-

Where a client/constituent intends to activate his/her/its Inactive Account, the client/constituent shall contact the Company on its toll free number or write a letter to the Company of his/her/its intention to again start activity in his/her/its account.

(A) Where the client/constituent opts to contact the Company on its number, the
client/constituent shall furnish the following details for verification to the Company:-

confirm the details of the his/her/its, as submitted at the time of account opening; confirm the details of his/her/its PAN, as submitted at the time of account opening; confirm his/her/its proof of address, as submitted at the time of account opening. confirm his/her/its bank details, as submitted at the time of account opening

[Should the Company, establish any deviation in the information furnished for verification, the same shall be brought to the attention of the Operations Team and Compliance Team and the said account shall be immediately “suspended” for further activity, in the interest of the client/constituent and shall take all reasonable steps to contact the client/constituent.]

If the client/constituent informs the Company of any change in information like address proof, bank details, the client/constituent shall be advised to furnish the same along with his/her/its letter along with the self attested copy of proof of address, bank details (cancelled cheque). Only once the said documents, is/are received by the Company, shall the account be activated.

(B) Where the client/constituent opts to contact the Company through letter, the client/constituent shall furnish the following details for verification to the Company:-

Letter duly signed by the client/constituent enclosing self attested copy of PAN, proof of address and bank details (cancelled cheque)

The signature of the client/constituent shall be verified by the Company including the PAN, address proof and once verified, the account shall be activated and the same shall be informed to the client/constituent by the Client Engagement Team.

(C) Where the client/constituent opts to contact the Company through his/her/its registered email id, the Client engagement team will ask the client/constituent to furnish such details/documents to the company’s satisfaction to establish the identity of the client and upon satisfaction shall activate the account

POLICY REGARDING “DORMANT ACCOUNT”

What is a “Dormant Account”?

“Dormant Account” shall means a trading account opened by a client/constituent, with Finvasia Securities Private Limited (“a Company”) in which no trading activity has been carried out for a continuous period of one(1) year, from the date of last trade in the said account or date of opening of the account, whichever is later.

Upon a trading account having been identified as a Dormant Account, the said account shall be marked in the system by the Company, as “suspended for activity”

Procedure to activate an Dormant Account:-

Where a client/constituent intends to activate his/her/its Dormant Account, the client/constituent shall contact the Company by way of writing a letter to the Company of his/her/its intention to again start activity in his/her/its account.

The client/constituent shall along with the letter furnish to the Company,

self attested copy of PAN;

self attested copy of Proof of Address;

self attested copy of income proof (applicable income proof to be taken as per regulatory requirement); and

assist and co-operate with the Company to comply with then applicable KYC requirements, both regulatory and internal company requirements.

Once, the above documents and/or KYC requirements are verified to the satisfaction of the Company, the Dormant Account will be made active.

[It may be noted that (i) activation of an inactive or dormant account may take T+2 days (subject to verification of all details to the satisfaction of the company) ; (ii) the above policy is subject to change/modification/amendment/variation, which may be warranted due to change in regulatory requirement and/or otherwise]