Policy for Treatment of Dormant Accounts
The policy for a Dormant account has been framed out under the specific guidelines of Prevention of Money Laundering Act (PMLA) for the safety and security of the investors as well as the financial market.
1.Introduction
The Dormant Account Policy lays down the procedure to be followed when an instruction for debit/credit or buy/sell is received from an account which is Dormant. This policy gives full description like the time period and method considered for terming an account Dormant and also various steps required to be adhered to strictly for re-activating such Dormant accounts.
2.Definition
An account shall be termed to be Dormant if it is inactive or remains non-operational by its holder at a stretch for a specified period of time. This specific period of time has been defined under the PMLA. Presently, this period is 365 days for both Trading and Demat Account i.e. if an account is inactive for a minimum period of 365 days for Trading and Demat Account, it will be classified as a dormant account.
3.Treatment of a Dormant account
All Dormant accounts will be treated in accordance to the policies prescribed under the PMLA. Accordingly the dormant account will be freezed immediately and the client will not be permitted to undertake any further transaction in such dormant account. The procedure for listing of dormant account is run once every month.
4.Re-activation of a Dormant account
A Dormant account shall be re-activated and further trading by such client should be allowed only after undertaking sufficient due diligence (including IPV) and obtaining the updated information related to KYC from the concerned Client.
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.
- Prudent Corporate Advisory Services Ltd.
- "Prudent House", Panjrapole Cross Road,
Nr. Polytechnic, Ambawadi,
Ahmedabad - 380 015, Gujarat, India. - For Queries:
- kyc@fundzbazar.com
- 1800 419 5051 (Toll Free)
- Compliance Officer:
- Mrs. Rima Patel
- compliancemf@prudentcorporate.com
- (079) 40209600
- Social Media
Prudent Corporate Advisory Services Ltd.(PCAS): Member of NSE & BSE – SEBI Registration No as stock broker: INZ000293634. Member ID : - NSE : 90209, BSE : 6733, CDSL – IN-DP- 477-2020 (DP ID: 12090600), CIN - L91120GJ2003PLC042458.
Registered Address: Prudent House, Panjrapole Cross Road, Nr. Polytechnic, Ambawadi, Ahmedabad - 380015, Gujarat, India.
For any complaints pertaining to securities / broking please write a mail to ig@prudentcorporate.com
Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI
- KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
- Prevent Unauthorized transactions in your Trading / Demat account --> Update your mobile numbers/email IDs with us. Receive information of your transactions directly from Exchange / CDSL on your mobile/email at the end of the day / same day.......... Issued in the interest of investors.
- No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in the investor's account.
- Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.
- Filing complaints on SCORES – Easy & quick
- a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. c. Benefits: i. Effective communication. ii.Speedy redressal of the grievances.
- SEBI COMPLAINTS REDRESS SYSTEM Link :- https://scores.gov.in/scores/Welcome.html
Company does not offer any scheme for any assured returns. In case, any such scheme offered by any of employee or other Authorized Person of the company, the same should not be accepted and no investment in such scheme to be made. In case of any such scheme offered by any person, kindly contact compliance team of the company on (+91) (79) 40209600. In case any investment made in such scheme, company will not be responsible for any claims or grievances for any loss on account of relying on the said scheme.
Advertisement Disclosure - Non-Broking Products/Services e.g. Mutual Fund, Mutual Fund-SIP, Research reports, Insurance, etc "These are not Exchange traded product and the Member is just acting as distributor and all disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.”
