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Dear Customer,
Thank
you for choosing Sharekhan as your preferred equity solutions
provider.
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As you are aware, your Sharekhan e-Broking account entitles you to enjoy the benefit of higher exposure levels for buying / selling of shares or taking new positions across all segments and Exchanges on an intra-day basis. If the said exposure levels are availed of by you for executing delivery-based /carry forward positions, your account will run into a debit in case not sufficiently funded.
In the given scenario, if the said debit balance is not cleared by you on or before T+2 day, delayed payment charges at applicable rates shall be levied, in addition to the possibility of liquidation of your stocks to restore the positive balance in your account.
In order to bring greater transparency and standardization in the process, we would like to bring to your kind attention our “5-Day Auto Square Off” feature, whereby in case your account balance becomes negative on the T+2nd day then:
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| 1. |
Shares shall be credited to a separate ?Online Client Stock Account? instead of your “Online DP Account” (as per the current practice) till the time your account balance is restored to positive. However, the same will be visible & available for selling from the Client Stock Account.
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| 2. |
Once the account has a Credit balance the shares from the “Online Client Stock Account” shall be transferred to your “Online DP Account”..
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| 3. |
On the T+6th day, you would be able to view a detailed 5 Day Square Off report under the Transaction Reports Section for NSE only. As of now BSE segment report is not available.
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| 4. |
In case the debit is not cleared before the T+6th day the "5-Day Auto Square Off" feature will be automatically activated & the shares in your client stock account will be sold to clear the Debit balance. As per regulations, buy back of scrips liquidated due to ageing debits will not be allowed on the same day.
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| 5. |
Stock(s)
to be sold under the
“5-Day Auto
Square Off”
feature will be the ones purchased through Sharekhan and lying in the Margin /Pool account and /or the ones transferred from DP to Margin /Pool account towards margin (DP to Margin).
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| 6. |
All amounts
transferred Online on weekdays will be considered as
payment received for calculating the square-off
amount. Amount(s) transferred on weekends
will not be considered for square off.
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| 7. |
Any pending
Settlement credits will be considered to arrive
at the final Debit balance
“Due
to us”.
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| 8. |
Cheque payments
tendered /deposited post T+2
shall not be considered to arrive at the final
Debit Balance for the
“5-Day Auto
Square Off”.
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| 9. |
T+5
Scenario would consider only Working
Days.
Weekends and Trading Holidays
would be exempted.
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In case, your account balance is in debit, a detailed report of the same is available online in the Transaction Report – 5 Days Square Off section in your trading account.
Please note that the 5 Day Square Off feature has been in effective since January 15, 2007 and will be applicable for debit amounts exceeding Rs. 500/-.
Feel free to call our Customer Service Department on 022 25753200 / 022 25753500 / 022 33054600 for any further clarifications.
Warm regards,
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Registered Office Address: Sharekhan Limited, The Ruby, 18th Floor, 29 Senapati Bapat Marg, Dadar (West), Mumbai 400 028, Maharashtra, India. Tel: 022-67502000.
Correspondence Address: 10th Floor, Gigaplex Bldg. No. 9, Raheja Mindspace, Airoli Knowledge Park Rd, MSEB Staff Colony, TTC Industrial Area, Airoli, Navi Mumbai, Maharashtra 400708, India. Tel: 022 – 61169000/ 61150000, Fax no. 61169699
Sharekhan Ltd.: SEBI Regn. Nos.: BSE / NSE / MSEI (CASH / F&O / CD) / MCX - Commodity: INZ000171337; BSE – 748 , NSE – 10733, MCX – 56125, MSEI – 1043; Depository Services: NSDL/CDSL-IN-DP-365-2018; Portfolio Management Services: INP000005786; Research Analyst: INH000006183, Mutual Fund: ARN 20669. For any complaints, email at
Compliance Officer: Ms. Binkle R. Oza; Email ID: – complianceofficer@sharekhan.com; Tel: 022 62263303.
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do's and Dont's issued by Stock Exchanges and Depositories before trading on the Stock Exchanges. For commodities derivatives, please note that Commodities Derivatives are highly leveraged instruments.
Contact nos. of Customer Service to be changed to 022-41523200 / 022-41683500
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