Help Guide for Complaints
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Amendment to the Bye Laws: DP-Client Agreement
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NSDL has vide its circular reference no.NSDL/POLICY/2013/0050, dated 04.04.2013 informed us
that a new Clause 18 is inserted in Agreement between the DP and Client of the Bye Laws and the
existing Clause 18 is renumbered as Clause 19 and accordingly, please take note of the amendment of
the DP-Client Agreement executed by you with us at the time of opening your Demat account.
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| (18) |
Notwithstanding anything contained herein or in the Bye Laws or Business Rules, neither party
hereto shall be liable to indemnify or compensate the other for any breach, non-performance or
delay in performance of any obligations under the Agreement or for any harm, loss, damage or
injury caused to the other due to causes reasonably beyond its control including but not limited
to tide, storm, cyclone, flood, lightning, earthquake, fire, blast, explosion or any other act of
God, war, rebellion, revolution, insurrection, embargo or sanction, blockade, riot, civil
commotion, labour action or unrest including strike, lock-out or boycott, interruption or failure
of any utility service, enemy action, criminal conspiracy, act of terrorism or vandalism,
sabotage, or intrusion, or any other irresistible force or compulsion. |
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NSDL has vide its circular reference no.NSDL/POLICY/2013/0034, dated 27.02.2013 informed us to
bring to your notice, the following amendments to its Bye Laws and Business Rules.
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(6) | The Depository Participant undertakes to provide a statement of accounts including transaction
statement and holdings statement to the Client at monthly intervals and to the Clients opting for
Basic Services Demat Account at quarterly intervals unless the Depository Participant and the
Client have agreed for provision of such statements at shorter intervals. However, if there is no
transaction in the account, then the Depository Participant shall provide such statement to the
Client on an annual basis. |
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NSDL has vide its circular reference no.NSDL/POLICY/2012/0053, dated 03.05.2012 informed us to
bring to your notice the following Amendments to the Bye Laws.
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(8) |
On the failure of the Client to pay the charges as laid out in Clause (1) of this agreement within a
period of thirty days from the date of demand Depository Participant may terminate this
agreement and close the account of the Client by requiring it to specify whether the balances in
its account be transferred to the account of the Client held with another Depository Participant
or be rematerialised in the manner specified in the Bye Laws and Business Rules. |
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(9) |
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 the Depository Participant to close the account of the
Client, the Depository Participant may charge interest @ not more than 24% p.a. or such other
rate as may be specified by the Executive Committee from time to time for the period of such
default. In case the Client has failed to make the payment of any of the amounts as provided in
Clause (1) of this agreement, the Depository Participant shall have the right to stop processing
of instructions of the Client till such time he makes the payment along with interest, if any, after
giving two days notice to the Client. |
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