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WMG Group | Wealth | Edge | Elite | Foundation

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Policies and Procedures

1. COLLECTION OF MARGINS

Margins, by whatever name called & defined by the Exchanges viz. Initial margin, Mark-to-Mark Margin, Exposure margin, Pre-expiry margin, Tender period or delivery period margin, Additional margin and Special cash margin or any other margin specified by Exchanges/Regulator from time to time. WMG Broking reserves the discretion to call for a higher percentage of margins from the client, than stipulated by the Exchanges/Regulator, depending on its risk assessment or Surveillance parameters or volatility in the markets. All margins are collected in the form of Funds and collaterals. Funds are collected by way of Account payee cheque (clearance required within 5 days)/NEFT / RTGS / IMPS etc. Collaterals can be in the form of pledged securities under MPR framework, Fixed Deposit Receipt, BGs, Warehouse Receipts, and any other form decided by WMG Broking subject to guidelines from Regulator/Exchanges from time to time. The threshold/apex limit for each form of collaterals, the ratio of funds and collaterals and their haircuts are solely at the discretion of WMG Broking subject to the guidelines laid down by Exchanges/Clearing House /Regulator. Acceptance & Approval of Margins on fixed Deposit Receipt, BGs, Ware-House Receipts will be decided by WMG Broking on a case-to-case basis.

2. REPORTING OF CLIENT’S MARGINS TO EXCHANGES & PENALTY FOR MARGIN VIOLATIONS

Margin reporting to Exchanges will be carried out as per the norms and guidelines of the Exchanges/Regulators. In case of open positions at multiple Exchanges/Segments, WMG Broking can apportion the available funds and collaterals on its discretion and practice. Applicable penalties on instances of shortages will be debited to clients’ ledger with applicable tax rates subject to regulatory guidelines from time to time.

3. EXPOSURE SETTING

WMG Broking has absolute discretion in setting the exposure limit of a client. Exposure varies from time to time and it is depending upon the net cash & collateral available in a client’s trading account. At any point in time, margin prescribed for any product/segment shall not be lower than the minimum margin stipulated by the Regulator/Exchanges from time to time. WMG Broking reserves the right to withdraw the exposure limit of a client at any point of time, without any further notice, if there are any dues/margin shortages in the client’s account or based on Market conditions/Risk and Settlement policy of WMG Broking. During the day Fund Transfers and collateral pledge under MPR framework will be updated on a Realtime basis. In case of Cheques, exposure will be updated subject to clearance/ internal approval. Squaring off trades in F&O, selling of unsettled positions in “cash product” and the shares lying in client’s beneficiary account of WMG Broking DP/B2B with delivery POA/e-DIS/DDPI/Blocked Mechanism can be effected without any additional exposure. 100% credit balance is required in the trading account for trading in Trade-to-Trade scrips and other select stocks. WMG Broking has the absolute discretion to set Margin requirement limits for every trade. Margin requirements are set based on our Risk and Settlement policy and Market conditions. For trades in the Equity segment, Margin is based on the security selected. This is made available in the Trading platform. For trades in Derivative segment, Upfront Margin is based on SPAN + Exposure margin, Additional margin, Delivery Margin and any other margin as stipulated by the Exchanges. WMG Broking reserves the right to block trades in any securities/contracts, based on risk assessment or Surveillance parameters of WMG Broking/Exchanges/Regulator or on PMLA guidelines, though such client position may be within Exchange position limits. Single Order Value Limit for Cash market segment is Rs.50 Lakh and for Derivative segment is Rs.3 Crores or decided by management from time to time subject to Quantity limit/value limit specified by the Exchange. Any change for this value will be made as per Credit Policy of WMG Broking subject to restrictions of Exchanges/Regulator. No fresh trades will be allowed in banned scrips/contracts. Any changes in the Risk and Settlement Policy shall be subject to the approval of the Risk & Settlement Committee.

4. LIQUIDATION OR SQUARING/CLOSING OUT OF CLIENT’S OPEN POSITIONS

If shares purchased by clients are pending in WMG Broking’s pool/CUSPA account due to non-payment of required funds, such shares will be sold to the extent of amount due, at any point of time after settlement pay-in time stipulated by exchange. Clearance from CUSPA will be done as per SEBI guidelines including for PIS clients. Pending cheques in the client’s ledger will not be considered while such clearance. If total debit/MTM % in the client’s account is greater than or equal to the stipulated % of the total Collateral, then the existing positions will be squared. In the Derivative segment, if there is no sufficient margin, the open positions will be squared. If there is any position taken during the banned period, such position will be square off any point of time without further notice. WMG Broking shall attempt liquidating necessary positions security/Commodity hitting the daily price filter (circuit) to avoid any dues in client’s account. The losses, if any, arising on the square-off trades shall be borne by the client. Open positions that are not squared-off for reasons beyond the control of WMG Broking viz. technical issues, price band etc. shall be squared-off in the immediate session thereafter or whenever the security/commodity/contracts is traded. WMG Broking reserves the right to square off any position taken without sufficient margin at any point of time without any further notice. WMG Broking reserves the right to square off existing positions if cheques received against these are dishonored. WMG Broking reserves the right to invoke/sell pledged shares/any other collateral to cover MTM losses. In addition to above points, there will be auto square off of positions (Cash & Derivative) taken in the INTRADAY option. The timings of auto square off will be displayed on the internet trading website. WMG Broking reserves the right to close the positions and the shares available as Collateral/holdings to recover the outstanding dues. In case of Physically Settled Derivative contracts, current month FAO contracts need to roll over/close before two days prior to final settlement day. WMG Broking reserves the right to square off such contracts, If there is no sufficient margin/securities in the client account for long/short positions. In case of Commodity derivatives, requirements for valid delivery should be met on or before commencement of delivery period or else positions will be squared off.

5. SECURITIES PAY-OUT MECHANISM:

A. The securities received in pay-out against which payment has been made by clients, shall be transferred to the demat account of the respective clients within one working day of the pay-out. Such securities shall be transferred directly from the pool account of WMG Broking to the demat account of the respective client.

B. The securities that have not been paid for in full by the clients (unpaid securities), shall be transferred to client demat account and will be auto pledged to WMG Broking ‘Client Unpaid Securities Pledgee Account’.

C. The securities auto pledged in the “client unpaid securities pledgee account” shall either be unpledged to the respective client upon fulfilment of client’s funds obligation or shall be disposed off in the market by WMG Broking within five trading days after the pay-out. The unpaid securities shall be sold in the Unique Client (UCC) of the respective client and will be invoked/unpledged in DP. Profit/loss on the sale transaction of the unpaid securities, if any, shall be transferred to/adjusted from the respective client.

D. In case of securities (where inter-depository transfer is not available) held in a particular depository (i.e. SGB, Gsecs) and the client does not have an account in the said Depository, the client will have to open an account.

6. PHYSICAL SETTLEMENT OF FAO CONTRACTS

All open Stock futures positions after close of trading on expiry day and all in-the-money stock options contracts which are exercised and assigned on expiry day are settled physically. Obligations in physical settlement of F&O segment for a particular expiry shall be netted with Obligations in Capital Market segment of corresponding trade date. Changes will be applicable as per the guidelines of regulators, exchanges and clearing corporations from time to time.

7. POLICY ON PENNY STOCKS

Definition: Any stock which is trading on a stock exchange at a price less than the face value is defined as a penny stock. Further, such stocks can be fundamentally weak in terms of net worth, sales, market capitalization and/or profitability and may have violated provisions of the Listing Agreement of the exchange in which they are listed or have a large number of investors’ complaints pending against them. WMG Broking will have the right to refuse execution of trades in the above stocks. List of penny stocks is available in the customer care site. Further, as per SEBI circular CIR/MRD/DP/6/2013 dated February 14, 2013, clients are requested to note the penalty criteria for certain trades in periodic call auction. Penalty for trades in periodic call auction: – In the event where maximum buy price entered by a client (on PAN basis) is equal to or higher than the minimum sell price entered by that client and if the same results into trades, a penalty shall be imposed on such trades. The penalty shall be calculated and charged by the exchange as per the defined formula, which is currently as under: • For buy orders placed above 25% of the floor price, penalty shall be 100% of trade value (Buy Value-Sell Value). • For buy orders placed at or above 20% and up to 25% of the floor price, penalty shall be 50% of trade value (Buy Value-Sell Value). • For buy orders placed at or above 15% and up to 20% of the floor price, penalty shall be 25% of trade value (Buy Value-Sell Value).

8. POLICY ON INTERNET BASED TRADING FACILITY

All clients are provided with facilities to execute orders directly through the internet. Clients are provided with a login ID and password which has to be reset by clients on the first login. Clients are advised to keep their password confidential and change the same frequently. Further, clients are advised to take adequate security measures to prevent unauthorized access to the trading platform provided by WMG Broking. In case of any observation of discrepancy in the order execution or trades, Clients shall bring the same to the notice of WMG Broking within 24 hours of the occurrence of the event. WMG Broking does not take any responsibility or liability for the delay in the execution of orders or non-execution of orders due to any technical reason. The trading system provides the facility for clients to set their own exposure limits for trades, view the status of their orders, trades and ledgers on a real-time basis. Clients may also modify or cancel their orders, provided the same has not been executed. In case of discrepancy, clients are advised to inform their branch or customer care immediately. Clients can place their orders through the nearest branch or call center in case of non-availability of internet facility. WMG Broking reserves the right to temporarily disable or terminate the Internet Trading Facility provided to clients if found necessary.

9. POLICY ON PRE-FUNDED INSTRUMENTS/ ELECTRONIC FUND TRANSFERS:

In accordance with SEBI circular CIR/MIRSD/03/2011 dated June 9, 2011, WMG Broking does not accept cash or demand drafts (except from banks where we don’t have clearing facility and same should be as per Regulatory guidelines) from clients. WMG Broking accepts pre-funded instruments only if the instruments are from clients’ own accounts. The proof of the same may be obtained from the client. As a proof, the copy of the requisition slip for such pre-funded instruments from the issuing bank must be obtained by the branch, which must contain the name of the client. Alternatively, if the instrument is received through mail, then the relationship manager should obtain the proof from the client within 48 hours. All pre-funded instruments should be cleared within 5 working days. In case of pre-funded instruments received from pool A/c. /Beneficiary A/c., where it is not possible to identify the source of the fund, WMG Broking shall ensure the proof of fund received from the client’s banker. For electronic fund transfers, the payment received should be from the client’s bank account. If the same is not visible in the system, the back office team shall collect the proof from the client in the form of a copy of the bank statement/passbook. This proof should contain the name of the client and transaction details. Where the proof is not available for the pre-funded instruments or electronic fund transfers, the same will be reverted to the client within 24 hours or latest by next working day. The proof of fund receipt must be retained and made available during inspection. WMG Broking reserves the right to accept or reject pre-funded instruments and electronic fund transfers at its sole discretion.

10. POLICY ON RECONCILIATION OF CLIENT’S TRANSACTIONS

WMG Broking has the policy of reconciling the clients’ funds, securities and commodities positions regularly to ensure that the transactions executed and positions held are in accordance with the records maintained. This helps in ensuring that there are no discrepancies in the records. The reconciliation is done by comparing the records of the transactions executed by the clients with the records maintained by the exchanges, depositories and banks. Any discrepancies observed during the reconciliation process are immediately brought to the notice of the concerned department for rectification. The reconciliation of the clients’ funds is done on a daily basis, while the reconciliation of securities and commodities positions is done on a fortnightly basis. In addition to this, a monthly statement of accounts is sent to the clients which include the details of the transactions executed, funds and securities balances and other related information. Clients are advised to go through the statement of accounts and report any discrepancies observed to the customer care or the concerned branch within 7 days of receipt of the statement. WMG Broking takes utmost care to ensure that the transactions executed and positions held by the clients are accurate and up to date.

Terms & Conditions

The Terms and Conditions (“Terms”) govern the access and use of the website https://wmgbroking.com/ and the application “WMG Broking” (collectively, “Website”), owned, managed and operated by WMG Broking Private Limited (“WMG”, “we”, “us” or “our”), a company incorporated under the Companies Act, 1956, having its registered address at 21/19, Craig Park Layout, MG Road, Bengaluru, Karnataka 560001.

By using, accessing, browsing, opening an account or registering on the Website, you (“user”, “you”, “your”) acknowledge that you have read, understood, and agree to be bound by these Terms, including any modifications made therein from time to time.  Your continued usage of the Website following any such modification of the Terms shall constitute your acceptance of the same. If you do not agree to the Terms or any subsequent modifications made thereto, please refrain from using, accessing or engaging in any activity in connection with the Website.

 

USAGE

By opening an account with us, registering with us, or availing any of our services, you acknowledge, represent, warrant, and agree that:

  • You are legally competent and of the requisite age to avail our services. Where you are acting on behalf of a minor, you represent and warrant that you are the minor’s lawful parent or legal guardian and are duly authorized to act on the minor’s behalf;
  • All information, declarations, and documents submitted by you for account opening, registration, KYC compliance, or for availing our services are true, complete, accurate, valid, and authentic, and have not been forged, fabricated, altered, or misrepresented in any manner;
  • You have carefully read, understood, and agreed to all applicable account opening forms, application forms, disclosures, terms and conditions, policies, procedures, risk disclosure documents, and any other documents made available to you in connection with our services;
  • You agree to comply with all applicable laws, regulations, rules, policies, procedures, guidelines, circulars, and instructions issued by us from time to time in relation to the use of our services;
  • You are solely responsible for maintaining the confidentiality and security of your account credentials, including your username, password, PIN, OTPs, and any other authentication details. You shall not disclose or share such credentials with any third party and shall be responsible for all activities carried out through your account;
  • You hereby expressly authorize and consent to the sharing of your relevant documents and information with the appropriate KYC Registration Agency (KRA) together with the demat account opening forms and any information or documents submitted by you, to the extent required under applicable law or regulatory requirements;
  • By submitting an enquiry or contacting us through the Website, you expressly consent to being contacted by WMG, its employees, affiliates, authorized representatives, or service providers through any mode of communication for the purpose of responding to your enquiry and providing our services, in accordance with applicable law;
  • All funds invested, transferred, or remitted by you are from your own bank account(s) and originate from legitimate sources, and are transferred only through authorized and approved banking channels;
  • You agree to pay all applicable brokerage, fees, charges, taxes, duties, levies, statutory charges, and any other amounts payable in connection with the services availed by you, as may be applicable from time to time;
  • You acknowledge and agree that all investment decisions made through the Website are solely your responsibility. You understand the risks associated with and agree to obtain independent financial, legal, tax, or other professional advice, wherever considered necessary, before making any investment decision; and/or
  • You agree to promptly notify us of any change in your personal information, contact details, bank account details, or any other information provided by you, and to furnish such supporting documents as may be required.

 

RESTRICTED USE

WMG hereby grants you, a limited, non-exclusive, non- transferable, royalty free license to use the Website solely for the purposes of availing the services and for no other purposes. You may use, avail or access the Website for your own personal, non-commercial and limited use to the extent that are permitted by the Terms. Notwithstanding anything contained herein, you shall refrain from using the Website for any of the purposes set out below: –

  • Engage in any activity that interferes with, restricts, or adversely affects any other person’s or entity’s use or enjoyment of the Website;
  • Sell, assign, or otherwise permit any third party to use your account. You shall also not impersonate, misrepresent yourself as, or create an account in the name of any other person or entity without lawful authority;
  • Infringe, misappropriate, or otherwise violate the intellectual property rights of WMG or any third party, including but not limited to copyright, trademark, patent, design, or trade secret, whether registered or unregistered;
  • Use the Website in any manner that violates, or is likely to result in a violation of, any applicable laws, rules, regulations, or governmental requirements;
  • Violate the Terms, policies, procedures, guidelines, rules, regulations as made available by WMG to you from time to time;
  • Solicit, induce, encourage, assist, influence or attempt to solicit, induce, assist, influence any person or entity to indulge in any unlawful activity in connection with the Website;
  • Impersonate or attempt to impersonate WMG, its employees, representatives, or any other person or falsely represent your association or affiliation with them;
  • Spam, phish, spider, crawl, scrape, or otherwise access, collect or extract data, whether in whole or part, from the Website through any manual or automated means, or engage in any similar activity intended to obtain information that is not specifically made available on the Website;
  • Disrupt, damage, disable, or otherwise adversely affect the operation, security, or functionality of the Website or any servers, networks, or systems connected to or supporting the Website;
  • Introduce any viruses, malware, malicious code, harmful software, automated tools, or other technologies or methods that may interfere with, damage, disrupt, compromise, or adversely affect the Website, its security, functionality, or content; and/or
  • Reproduce, duplicate, copy, modify, sell, resell, or otherwise exploit any portion whether whole or in part of the Website, its content, or access to it.

 

CONSENT

You acknowledge and agree that all information, declarations and documents provided by you are submitted voluntarily, of your own free will and without any coercion, undue influence, fraud or misrepresentation. You represent and warrant that the information furnished by you is true, complete, accurate and up to date, and you undertake to promptly notify us of any changes thereto. You expressly consent to the collection, verification, storage, processing, use, and disclosure of your personal information and documents by us in accordance with applicable laws, regulatory requirements and our Privacy Policy. You further agree to maintain the confidentiality of your account credentials and acknowledge that you shall be solely responsible for all activities carried out through your account until such time as you notify us of any unauthorized access or security breach.

 

INTELLECTUAL PROPERTY RIGHTS

All information available on the Website, including but not limited to text, articles, information, blogs, images, photographs, graphics, illustrations, videos, audio files, logos, trademarks, service marks, trade names, designs, icons, software, and other materials (collectively, “Content”), are owned or licensed to WMG and is protected under applicable intellectual property laws.

All rights, title, and interest in the Information and Website including all associated intellectual property rights, are and shall remain the exclusive property of WMG. Nothing contained herein or your use of the Website shall be construed as granting you, whether expressly or impliedly, or by way of estoppel, any right, title, interest, license, or authorization to use, reproduce, modify, distribute or otherwise exploit any intellectual property of WMG.

You shall not, without the prior written consent of WMG, copy, reproduce, download, adapt, translate, distribute, reverse engineer, decompile, disassemble, create derivative works from the Website or its Information, whether in whole or in part. Any unauthorized use of the Website or its Information may constitute a violation of applicable laws and WMG reserves the right to pursue all available legal remedies, including injunctive relief and damages, against any party engaged in such unauthorized use.

 

INDEMNIFICATION

You agree to defend, indemnify, and hold harmless WMG, its directors, parent companies, subsidiaries, affiliates, and their respective directors, officers, employees, agents, successors, and permitted assigns (collectively, the “Indemnified Parties”) from and against any and all third-party claims, demands, losses, liabilities, damages, costs, and expenses (including, without limitation, reasonable attorneys’ fees and court costs) arising out of, resulting from, or relating to (i) use or access to the Website; (ii) any material breach of the Terms, policies, procedures, guidelines of WMG; (iii) violation of any applicable law, rules and regulations; (iv) any infringement of intellectual property rights of WMG;  (v) any negligent, fraudulent, unauthorized, or otherwise wrongful act or omission committed by you; (vi) any claims, demands, or actions brought by third parties arising from or relating to your access to or use of the Website; (vii) any inaccurate, incomplete, false, or misleading information or documentation furnished by you in relation to your account or our services; (viii) any delay, disruption, failure or error in banking channels, payment systems, transfers, clearing, or settlement processes that are beyond our reasonable control; and/or (ix) any loss, liability, cost, expense, or damage arising from or in connection with availing our services that arise due to circumstances beyond our reasonable control. These obligations shall survive the termination of the Terms.

 

DISCLAIMER

THIS WEBSITE AND ALL ITS CONTENT, INFORMATION, MATERIALS ARE PROVIDED ON “AS IS” BASIS. ANY ADVICE, OPINIONS, OR INFORMATION OBTAINED THROUGH THE WEBSITE ARE FOR GENERAL INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS PROFESSIONAL, LEGAL OR FINANCIAL ADVICE. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WMG HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, WHETHER IMPLIED OR EXPRESS, WITH RESPECT TO THE WEBSITE AND ITS USE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, RELIABILITY, COMPLETENESS, TIMELINESS, PERFORMANCE AND SUITABILITY.

INVESTMENTS IN THE SECURITIES MARKET ARE SUBJECT TO MARKET RISKS. PAST PERFORMANCE IS NOT INDICATIVE OF THE FUTURE RESULTS. OUR WEBSITE ACTS SOLELY AS A FACILITATION PLATFORM AND DOES NOT UNDERTAKE ANY SETTLEMENT, CLEARING, REMITTANCE, OR EXECUTION OF TRANSACTIONS. ALL TRANSACTIONS ARE SUBJECT TO APPLICABLE PROCESSES, RULES, AND PROCEDURES OF THE RELEVANT EXCHANGES, DEPOSITORIES, BANKS, AND OTHER AUTHORIZED INTERMEDIARIES. ALL INVESTMENT DECISIONS RELATING TO ANY INVESTMENT PRODUCT MUST BE MADE SOLELY AT THE INVESTOR’S OWN DISCRETION AND JUDGMENT. INVESTORS ARE STRONGLY ADVISED TO OBTAIN, REVIEW, AND UNDERSTAND ALL RELEVANT INFORMATION AND OTHER MATERIAL DOCUMENTATION RELATING TO THE INVESTMENT PRODUCT BEFORE MAKING ANY INVESTMENT DECISION. THE RESPONSIBILITY FOR EVALUATING THE SUITABILITY OF ANY INVESTMENT RESTS SOLELY WITH THE INVESTOR. INVESTORS ARE ADVISED TO CONSULT THEIR OWN LEGAL COUNSEL, BUSINESS OR INVESTMENT ADVISOR, AND TAX ADVISOR WITH RESPECT TO THE LEGAL, BUSINESS, AND TAX IMPLICATIONS CONCERNING THEIR INVESTMENTS. NO ASSURANCE OR GUARANTY OF RETURNS IS BEING PROVIDED BY THE ORGANIZATION. FURTHER, WMG DOES NOT WARRANT THAT THE WEBSITE WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT ANY DEFECTS WILL BE CORRECTED. YOUR USE OF THE WEBSITE, AND ANY RELIANCE ON ITS CONTENT OR INFORMATION, IS ENTIRELY AT YOUR OWN RISK AND WE ASSUME NO LIABILITY FOR THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. USERS ARE ADVISED TO CAREFULLY READ AND UNDERSTAND THE TERMS AND CONDITIONS OF THE WEBSITE CAREFULLY BEFORE ACCESSING AND USING THE WEBSITE.

 

LIMITATION OF LIABILITY

To the fullest extent permitted by applicable law, in no event shall WMG, or its officers, directors, employees, partners, agents, affiliates, or representatives, be liable to you or any third party for any special, incidental, indirect, consequential, exemplary, or punitive damages, including, without limitation, damages arising from or relating to loss of use, loss of data, loss of profits, loss of revenue, business interruption, or any other damages or claims, whether based on contract, tort (including negligence), strict liability, or any other legal theory, arising out of, resulting from, or in connection with your (i) access to, use of, or inability to access or use the Website; (ii) any loss, damage, liability, or expense arising from investment decisions, trading activities, execution or non-execution of orders or transactions executed through our Website; (iii) any inaccurate, incomplete, false, misleading, or unauthorized information, instructions, or documents provided by you; (iv) relying upon any information or any other material whatsoever on the Website or in any brochures, promotional material or any other literature promulgated by Website; and/or (v) any failure to maintain the confidentiality of your login credentials or account details.

 

FORCE MAJEURE

WMG shall not be liable for any failure or delay in performance of any of its obligations, if it is prevented, restricted, delayed or interfered with due to circumstances beyond its reasonable control, including but not limited to natural disasters, pandemics, epidemics, diseases, accidents, national or local health, security or other emergencies or incidents, acts of God, threat of wars, riots, strikes, lockouts, or other concerted acts of workmen, rebellion, revolution,

government action, exchange or market closures, power or internet outages, cyberattacks, industrial emergency or terrorist attacks or military action, or other civil unrest.

 

AMENDMENT

WMG reserves the right, at its sole discretion, to amend, modify, revise or update the Terms at any time. You are responsible for reviewing the Terms periodically to remain informed of any updates or modifications made thereto. WMG shall not be liable to you or any third party for any loss, damage, cost, or liability arising from or in connection with any amendment, modification, or update to the Terms or the Website.

 

SEVERABILITY

In the event that any one or more of the provisions contained herein shall be held invalid, illegal, or unenforceable under any applicable law by a court or other competent authority, such provision shall be deemed severable and shall be enforced to the maximum extent permitted by law. The invalidity, illegality, or unenforceability of such provision shall not affect the validity, legality, or enforceability of the remaining provisions of the Terms, which shall continue in full force and effect.

 

DISPUTE RESOLUTION AND GOVERNING LAW

In accordance with the SEBI’s Master Circular No. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 dated July 31, 2023 (updated as on December 28, 2023) an Online Dispute Resolution (ODR) mechanism has been established for resolution of disputes arising in the Indian securities market. If your grievance has not been satisfactorily resolved by us or no action has been initiated in this regard, you may register your complaint through the ODR mechanism available on the ODR Portal at https://smartodr.in , for online conciliation and/or arbitration of the disputes, in accordance with the applicable regulatory framework.

 

The Terms shall be governed and construed in accordance with the laws of India. Any dispute regarding or arising out of this terms and conditions shall be subject to the exclusive jurisdiction of the courts in Bengaluru, Karnataka.

 

NOTICES

All notices, requests, consents and other communications under this Terms must be in writing and must be: (a) mailed by registered post; or (b) sent by recognized courier or similar overnight delivery or courier service, or (c) delivered (in person, or by email or similar telecommunications equipment) against receipt, to the address as provided hereunder: –

 

Name: WMG Broking Private Limited

Address: # 21/19, Craig Park Layout, MG Road, Bengaluru – 560001, Karnataka-India

Email: support@wmgbroking.com   

 

ASSIGNMENT

You shall not assign, transfer, or otherwise delegate of any of your obligations under these Terms or any rights granted to you hereunder to any third party without the prior written consent of WMG.

 

WAIVER

Any failure by WMG to enforce or exercise any provision of the Terms, or any related right, remedy shall not constitute a waiver by WMG of that provision, right or remedy. Any waiver by WMG shall only be effective if given in writing and shall not be construed as a waiver of any subsequent or continuing breach.

 

ENTIRE AGREEMENT

These Terms, read together with our Privacy Policy and any other rules, policies, procedures or guidelines that WMG may issue and make applicable to the Website from time to time, set out the complete understanding and agreement between WMG and you in relation to your access to and use of the Website.

 

CONTACT US

In case of any queries or concerns regarding these terms and conditions, please feel free to reach out to us at:

 

Name: Mrs. Nalini

Contact: +91 91872 01493

Email id: support@wmgbroking.com   

Address: 21/19, Craig Park Layout, M G Road, Bangalore – 560001, Karnataka.

Privacy Policy

This privacy policy sets out how WMG Broking Private Limited uses and protects any information that you give WMG Broking Private Limited when you use this website.

WMG Broking Private Limited is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified when using this website, and then you can be assured that it will only be used in accordance with this privacy statement.

WMG Broking Private Limited may change this policy from time to time by updating this page. You should check this page from time to time to ensure that you are happy with any changes.

We may collect the following information:

  • Name and job title
  • Contact information including email address
  • Demographic information such as postcode, preferences and interests
  • Other information relevant to customer surveys and/or offers

What we do with the information we gather

We require this information to understand your needs and provide you with a better service, and in particular for the following reasons:

  • Internal record keeping.
  • We may use the information to improve our products and services.
  • We may periodically send promotional emails about new products, special offers or other information which we think you may find interesting using the email address which you have provided.
  • From time to time, we may also use your information to contact you for market research purposes. We may contact you by email, phone, fax or mail. We may use the information to customise the website according to your interests.

We are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure we have put in suitable measures.

How we use cookies

A cookie is a small file which asks permission to be placed on your computer’s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.

We use traffic log cookies to identify which pages are being used. This helps us analyse data about webpage traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.

Overall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.

You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.

Controlling your personal information

You may choose to restrict the collection or use of your personal information in the following ways:

  • Whenever you are asked to fill in a form on the website, look for the box that you can click to indicate that you do not want the information to be used by anybody for direct marketing purposes
  • If you have previously agreed to us using your personal information for direct marketing purposes, you may change your mind at any time by writing to or emailing us at broking@wmggroup.in

We will not sell, distribute or lease your personal information to third parties unless we have your permission or are required by law to do so. We may use your personal information to send you promotional information about third parties which we think you may find interesting if you tell us that you wish this to happen.

If you believe that any information we are holding on you is incorrect or incomplete, please write to or email us as soon as possible, at the above address. We will promptly correct any information found to be incorrect.

Cancellation and Refund Policy

The refund & cancellation policy for all payments made or fees paid towards account opening or availing of any other services from WMG Broking shall be as follows:

A. The fees paid towards account opening charges to enable the Client’s equities and commodities accounts is non-refundable. This fee is used towards initiation of an account by a client and there are various charges involved even if the account is not completely opened and activated as well. The initiation of an account includes charges for electronic data entry & maintenance, KYC, e-signing, the printing of any documents, and operational costs of the business.

B. Pick up of the required documentation for account opening is subject to the availability of our representatives at any particular time and location. This service shall be separately chargeable to compensate for the effort undertaken in this regard. These charges are non-refundable.

C. In case WMG Broking fails to open an account within 10 days of submission of all the necessary supporting documentation and authorizations by the Client, such Clients may request a full refund of all the charges paid towards account opening.

D. In case a Client has paid the charges relating to account opening multiple times, such Clients are requested to create a ticket here. Upon being so intimated, WMG Broking shall initiate the necessary procedure to refund these amounts to the Client.

E. In case the account opening fee is paid, but the account has not been activated (a Client ID and password have not yet been generated), a request to initiate a refund with a clear reason can be sent by the Client to WMG Broking. As the account opening fee includes various charges to initiate the account opening process itself, as stated in the first point above, no charges are refunded automatically.

All refund requests will be considered by WMG Broking on a case-to-case basis.22.2Clients understand that completion of all refund procedures initiated by WMG Broking is subject to fulfillment by the relevant third-party agencies including banks and payment gateways.

​In the event of a refund, the amount will be processed within 7-10 working days from the date of approval. The refund will be issued using the original payment method. Processing times may vary depending on your bank or payment provider.