Disclosure

POLICY PERTAINING TO TREATMENT OF INACTIVE/ DORMANT ACCOUNT

A.K. Stockmart Private Limited (AKSPL) as a matter of policy accepts and realizes that the investor community is made of traders as well as investors. Whereas traders trade frequently, the investors trade with long gaps. The inactive client policy is framed keeping the same in mind.

Policy on Inactive / Dormant Accounts
This policy defines the treatment of Dormant/ Inactive accounts of the clients maintained with the Company.

Meaning
Where no transaction has taken place in client’s account (Trading) during the last 12 (Twelve) months from the date of last transaction across all segment, then it will be considered as inactive account. Generally it is also referred as dormant account.

It may be noted that system generated debits like charges, Interest shall not be considered as Transaction for the purpose of this policy.

[AKSPL shall flag the client as inactive in UCC database of the Exchange in case the said clients have not traded in the last 12 months across all Exchanges. We shall undertake fresh documentation, due diligence and IPV where a client is coming for reactivation after a period of 1 year of being flagged as inactive i.e. after 2 years from their last trading date.]

Transaction in Dormant / Inactive accounts
The Dormant accounts identified based on the above criteria shall be flagged as such in the records of AKSPL. AKSPL reserves the right to freeze such accounts and shall not permit to carry out any fresh transactions in such account. The clients account would be reactivated only after undertaking proper due diligence process and fulfillment of such conditions as may be deemed fit.

Reactivation of Client Accounts
The Client can get such accounts reactivated by placing a reactivation request and submitting below mentioned documents. For any queries, the Client can also get in touch at +91-22-67546500 or by sending documents directly to the address mentioned below:

A.K. Stockmart Pvt. Ltd.
601-602, 6th Floor, Windsor, Off CST Road, Kalina, Santacruz(East), Mumbai – 400098

The Clients request through letter/ registered mail id/ recorded telephone lines may be impressed upon to reactivate the account or to carry out fresh transaction in a dormant account.

Documents Required for Account Reactivation
1. a. One-pager KYC form if re-activation is initiated within one year from the date of tagging as Inactive Client
    b. Full KYC, Financial Proofs and IPV Process if account remains in Inactive for more than one year.
2. Financial Proofs (List of Valid Proof is mentioned below)

List of Documentary Evidence of Financial Details (Individuals)
Copy of Income Tax Return acknowledgment, Copy of Form 16, Salary Certificate, Bank Statement of 6 Months, DP Holding Statement, Net worth Certificate.

List of Documentary Evidence of Financial Details (Corporate)
Copies of Financial Statement and Annual report for the last 2 financial years, Copy of ITR acknowledgment, Net worth Certificate (duly attested by CA).

Debit Transaction in Dormant Demat Accounts in Dormant Demat Accounts
The Demat accounts wherein no debit transaction had taken place for a continuous period of 12 (Twelve) months shall be flagged as Dormant/ Inactive accounts. Additional due diligence would be observed over and above the normal verification procedure while processing any debit transactions in such accounts. The transaction shall also be verified with the BO in case of high value debits and the details of the process, date, time, etc., of the verification on the instruction slip shall be recorded under the signature of a senior official.

The above stated policy may be modified at any time in accordance to the various rules, regulations, bye-laws and guidelines that may be prescribed by SEBI, Exchange or any other competent authority or as per the internal policy of the organization from time to time. This policy for dormant account is over and above the transaction monitoring in dormant account as per the Anti-Money laundering policy of the organization.