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A

Project Study Report


On





Franchisee & Remise ship Development in Karvy

Submitted in partial fulfillment for the
Award of degree of
Master of Business Administration

Submitted By:- Submitted to:-
Chetan Daiya Prof !"Purohit
#BA Part $rd %Director&

'(AS )"S*)*+*, O- #A"A!,#,"*

.//0-./1/
1
PR,-AC,

TH !"R#"RAT #R"$RAM of MBA course is a %ell structured and
inte&rated pro&ramme' The course of mana&ement &ives a practical (no%led&e
in our study course' )ndustries &ive us much information a*out the different
product and services %e use in our day to day life'
)t is hi&hly said that practice ma(es a man perfect the summer pro+ect trainin&
%hich is a part of M'B'A to &et a practical understandin& and trainin& of the
*usiness mana&ement' Thus the industrial trainin& %hich is a part of M'B'A
course helps the student to &et the (no%led&e a*out the actual environment of
an or&ani,ation'
Karvy -toc( Bro(in& ltd' is one of such company dealin& in -hare mar(et
Derivatives. !ommodities. Mutual fund )#" distri*ution %ith almost *ranches in
overall )ndia'
)t involved the study of Mar(etin& activities of the or&ani,ation' ) have under
ta(en industrial trainin& in Karvy -toc( Bro(in& ltd' at Delhi crossin& from /01
may1/223 to 41+uly1/223 as a part of my MBA course curriculum and ) thus.
present a pro+ect report on it at the *est of my a*ility (no%led&e and %or( done'
2
A!K5"67D$M5T
) am really happy and e8ited in representin& this summer trainin& pro+ect report
*efore you'
) must e8press my &ratitude to%ards 2ar3y Stoc4 Bro4ing 5td6 Delhi
for &ivin& mean opportunity to %or( %ith on this report'
And of course ) am very much than(ful to our honora*le Director #rof'
$'5'#urohit 9#R":!T $;)D< for &ivin& me opportunity and his &uidance help
me throu&h out preparin& this report' He has also provided me a valua*le
su&&estions and e8cellence &uidance a*out this trainin&. %hich proved very
helpful to me to utili,e my theoretical (no%led&e in practical field'
At last ) am also than(ful to my friends. to all (no%n and un(no%n individuals
%ho have &iven me their constructive advise. educative su&&estion.
encoura&ement. co1operation and motivation to prepare this report'

Chetan Daiya
3
,7,C+*)', S+##AR(
)ndia=s economy is hi&hly developin&' The development is ta(en place due to the
&ro%th in the financial system' This financial system provides the *ac(&round to
various investors re&ardin& varied options to invest' Thus. development of the
economy depends on ho% these investors invest for the %ell *ein& in lon& run'
As financial mar(ets *ecome more sophisticated and comple8. investors need a
financial intermediary %ho provides the re>uired (no%led&e and professional
e8pertise on successful investin&' Mutual Funds represent perhaps the most
appropriate investment opportunity for investors' 5o %onder the concept of
Mutual Fund %as initially developed in the ;'-' mar(et. *ut the entry of the
concept in the )ndian Financial Mar(et %as in the year ?34@ %ith the formulation
of the ;T). at the initiative of the RB) and $ovt' of )ndia'
For most people. money is a delicate matter and %hen it comes to investin& they
are %ary' -imply *ecause there are many investment options out there. each out
promisin& the other' An important >uestion facin& many investors is %hether to
invest in Ban(s. 5ational -avin&s. #ost office. 5on1*an(in& finance companies.
Fi8ed deposits. -hares etc' or to invest distinctively in Mutual Funds'
) have o*served that appro8imately @2A of the people are una%are of Tradin&
*ut most of them are interested to (no% a*out tradin& and ready to attend
seminar arran&ed *y KARBC' They are also interested to %or( %ith KARBC if
sufficient information is provided to them a*out Tradin& and KARBC'
#eople from service class prefers safety of income plus the re&ular income as
%ell as ta8 *enefits %hile on the other hand #rofessional and Businessman
focus on hi&h return %ith some ris('
For &ro%th and development of the -toc( Mar(et )ndustry. the misconception
re&ardin& -hare Mar(et should *e removed & the a%areness for the same
should *e made'
4
CO"*,"*S
1 )ntroduction
)ntroduction of the )ndustry
)ntroduction of the "r&ani,ation
!ompany Details
6here Karvy -tand )n The Mar(etD
Mission -tatement of EKarvy=
Karvy $roup !ompany
. Profile of the bro4ing hou8e in the 8toc4 mar4et
Karvy
Kota( securities
-hare (han
)ndia infoline
Bonan,a
Reliance money
Reli&are securities
)ndia *ulls
Anand rathi
Hem -ecurities
An&el Bro(in&
$ Re8earch methodology objecti3e and limitation
Title of the -tudy
Duration of the #ro+ect
"*+ective of study
Type of Research
-cope of study
7imitation of study
9 -act8 and -inding
#ro*lem definition
Research desi&n
-ource of data
Research o*+ective
5
-tatement of pro*lem
"*+ective of the research pro+ect
: Conclu8ion8
; Recommendation and 8ugge8tion8
< =ue 8 t i onna i r e
0 Bi bl i ogr a phy
)"*ROD+C*)O"
CO#PA"( D,*A)5S
Bac4ground
Karvy !onsultants 7imited %as esta*lished in ?3F/ at Hydra*ad' )t %as
esta*lished *y a &roup of Hydra*ad1*ased practicin& !hartered Accountants' At
initial sta&e it %as very small in si,e' )t %as started %ith a capital of Rs' ?.G2.222'
)n startin& it %as only offerin& auditin& and ta8ation services' 7ater. it acts into
the Re&istrar and -hare transfer activities and su*se>uently into financial
services and other services li(e Financial #roduct Distri*ution. )nvestment
Advisory -ervices. Demat -ervices. !orporate Finance. )nsurance etc'
All alon&. Karvy=s stron& %or( ethics and professional *ac(&round levera&ed
%ith )nformation Technolo&y ena*led it to deliver >uality to the individual' A
decade of commitment. professional inte&rity and vision helped Karvy achievin&
a leadership position in its field %hen it handled lar&est num*er of corporate and
retail that proved to *e a sound *usiness syner&y'
Today. Karvy has access to millions of )ndian shareholders. *esides companies.
*an(s. financial institutions and re&ulatory a&encies' "ver the past one and half
decades. Karvy has evolved as a verita*le lin( *et%een industry. finance and
people'
)n :anuary ?33F. Karvy *ecame first Depository #articipant in Andhra #radesh'
An )-" 322/ !ompany. Karvy=s commitment to >uality and retail reach has
made it an )nte&rated Financial -ervices !ompany'
Today. company has /H2 *ranch offices in ?4@ cities all over the )ndia' The
company adds G ne% offices every month to the company=s ever &ro%in&
national net%or( in every noo( and corner of the country' The company service
over ?4 million individual investors. ?F2 corporate and handle corporate
dis*ursements that e8ceed Rs'/G22 !rores'
6
>?,R, 2AR'( S*A"D )" *?, #AR2,*@
KARBC is a le&endary name in financial services. Karvy=s credit is defined *y its
mission to succeed. passion for professionalism. e8cellent %or( ethics and
customer centric values'
Today KARBC is %ell (no%n as a premier financial services enterprise. offerin&
a *road spectrum of customi,ed services to its clients. *oth corporate and retail'
-ervices that KARBC constantly up&rade and improve are *ecause of
company=s s(ill in levera&in& technolo&y' Bein& one of the most techno1savvy
or&ani,ations around helps company to deliver even more cost effective
financial solutions in the shortest possi*le time'
6hat *ears ample testimony to Karvy=s success is the faith reposed in company
*y valued investors and customers. all across the country' )ndeed. %ith Karvy=s
%ide net%or( touchin& every corner of the country. even the most remote
investor can easily access Karvy=s services and *enefit from company=s e8pert
advice'
7
2AR'( !RO+P
Karvy !onsultants 7imited
Karvy -ecurities 7imited
Karvy )nvestor -ervices 7imited
Karvy -toc( *ro(in& 7imited
Karvy !omputer -hares #vt' 7td'
Board of Director8
2ar3y Con8ultant8 5imited
#arthasarathy !
Cu&andhar M
Rama(rishna M -
#rasad B #otluri
Ro*ert $i*son
-an+ay Kumar Dhir
R -hyamsunder
ITa*le?J B"Ds of Karvy !onsultants 7imitedK
2ar3y )n3e8tor Ser3ice8 5imited
#arthasarathy !
Cu&andhar M
Rama(rishna M -
ITa*le/J B"Ds of Karvy )nvestor -ervices 7imitedK
8
2ar3y Securitie8 5imited
#arthasarathy !
Cu&andhar M
Rama(rishna M -
A+ay Kumar K
6illiam -amuel
5icholas Tully
ITa*leHJ B"Ds of Karvy -ecurities 7imitedK
2ar3y Stoc4 Bro4ing 5imited
#arthasarathy !
Cu&andhar M
Rama(rishna M -
A+ay Kumar K
Kutum*a Rao B
6illiam -amuel
5icholas Tully
ITa*le@J B"Ds of Karvy -toc( Bro(in& 7imitedK

9
C Partha8arathy. !hairman & Mana&in& Director
Mr' ! #arthasarathy. a leader in the financial services
industry in )ndia is responsi*le for *uildin& KARBC as
one of )ndiaLs truly inte&rated Financial -ervices
#roviderM he is a fello% mem*er of the )nstitute of
!ompany -ecretaries of )ndia. a Fello% Mem*er of the
)nstitute of !hartered Accountants of )ndia and a
&raduate in la%'As !hairman and Mana&in& Director. he
oversees the &roupLs operations and renders vision and
*usiness direction'
His passion and vision for achievin& leadership in the *usiness made KARBC a
leadin& financial intermediary ran(in& them as num*er one in the re&istrar. -hare
Transfer and )#" Distri*ution *usinesses' He also holds directorship in KARBC
-ecurities 7imited. KARBC -toc( Bro(in& 7imited. KARBC )nvestor -ervices
7imited. KARBC !omputershare #rivate 7imited. KARBC !ommodities Bro(in&
#rivate 7imited. #R #harmaceuticals #rivate 7imited and "cean -par(les 7imited'



# (ugandhar6 Mana&in& Director
Mr' M Cu&andhar. Mana&in& Director. founder mem*er
of KARBC !onsultants 7imited. has varied e8perience in
the field of financial services spannin& over /2 years' He
is a Fello% Mem*er of the )nstitute of !hartered
Accountants of )ndia and %as involved in the statutory
and *ranch audit of *an(s for /4 years'
Mr' Cu&andhar holds directorships in KARBC -ecurities 7imited. KARBC -toc(
Bro(in& 7imited. KARBC )nvestor -ervices 7imited. KARBC !omputershare #rivate
7imited. KARBC !ommodities Bro(in& #rivate 7imited. Bi,pro Technolo&ies )ndia
7imited. #o(arna 7imited. Ravindranath $ Medical Associates #rivate 7imited.
verest #o%er #rivate 7imited and $reen )nfrastructure #rivate 7imited'



# S Rama4ri8hna6 8ecutive Director
Mr' M - Rama(rishna. Director. founder mem*er of
KARBC !onsultants 7imited is the orchestrator of
technolo&y initiatives such as the call center in the
service of the customer'
Mr' Rama(rishna is a mem*er of the Hydera*ad -toc( 8chan&e and is the director
of KARBC -ecurities 7imited. KARBC -toc( Bro(in& 7imited. KARBC )nvestor
-ervices 7imited. KARBC !omputershare #rivate 7imited. KARBC !ommodities
Bro(in& #rivate 7imited. 5itya 7a*s 7imited and -AB 5ife #o%er -ystems 7imited'
He has helped KARBC diversify into the field of medical transcription levera&in& on
10
the companyLs core competency of transaction processin&' He has more than /2
years of e8perience in the financial services arena'
Achi3ement8
N Amon& the top G stoc( *ro(ers in )ndia 9@A of 5- volumes<
N )ndiaLs 5o' ? Re&istrar & -ecurities Transfer A&ents
N Amon& the top H Depository #articipants
N 7ar&est 5et%or( of Branches & Business Associates
N )-" 322/ certified operations *y D5B
N Amon& top ?2 )nvestment *an(ers
N 7ar&est Distri*utor of Financial #roducts
N Ad+ud&ed as one of the top G2 )T uses in )ndia *y M)- Asia
N Full Fled&ed )T driven operations
=uality Policy
*o achie3e and retain leader8hip6 2ar3y shall aim for complete customer
satisfaction. *y com*inin& its human and technolo&ical resources. to provide
superior quality financial services. )n the process. 2ar3y %ill strive to
e8ceed !ustomerLs e8pectations'
Quality Objectives
A8 per the =uality Policy6 2ar3y will :
Build in1house processes that %ill ensure transparent and harmonious
relationships %ith its clients and investors to provide hi&h >uality of
services'
sta*lish a partner relationship %ith its investor service a&ents and
vendors that %ill help in (eepin& up its commitments to the customers'
#rovide hi&h >uality of %or( life for all its employees and e>uip them %ith
ade>uate (no%led&e & s(ills so as to respond to customerLs needs'
!ontinue to uphold the values of honesty & inte&rity and strive to
esta*lish unparalleled standards in *usiness ethics'
;se state1of1the art information technolo&y in developin& ne% and
innovative financial products and services to meet the chan&in& needs of
investors and clients'
-trive to *e a relia*le source of value1added financial products and
services and constantly &uide the individuals and institutions in ma(in& a
+udicious choice of same'
-trive to (eep all sta(e1holders9shareholders. clients. investors.
employees. suppliers and re&ulatory authorities< proud and satisfied'
11
#i88ion Statement of A2ar3yB
An or&ani,ation e8ists to accomplish somethin& or achieve somethin&'
The mission statement indicates %hat an or&ani,ation %ants to achieve'
The mission statement may *e chan&ed periodically to ta(e advanta&e of
ne% opportunities or respond to ne% mar(et conditions'
Karvy=s mission statement is To Brin& )ndustry. Finance and #eople
to&ether'
Karvy is %or( as intermediary *et%een industry and people' Karvy %or(
as investment advisor and helps people to invest their money same %ay
Karvy helps industry in achievin& finance from people *y issuin& shares.
de*entures. *onds. mutual funds. fi8ed deposits etc'
!ompany=s mission statement is clear and thou&htful %hich &uide
&eo&raphically dispersed employees to %or( independently yet collectively
to%ards achievin& the or&ani,ation=s &oals'
'i8ion of 2ar3y
!ompany=s vision is crystal clear and mind frame very directed' C*o be
pioneering financial 8er3ice8 company And continue to grow at a healthy
pace6 year after year6 decade after decadeD !ompany=s foray into )T1ena*led
services and internet *usiness has provided an opportunity to e8plore ne%
frontiers and *usiness solutions' To *uild a corporate that sets *enchmar(s for
others to follo%'
12
Behind the Picture: >hat Cu8tomer8 matter for 2AR'(@
The underlyin& picture formin& ans%er for a*ove >uestion is &iven *elo%'
Mar(et Brand !ustomer
#o%er #reference Balue
R7AT)"5-H)#-
";R !"M#T)T)B ADBA5TA$
IFi&'? !ompetitive Advanta&e of KarvyK
very year %ith this picture (eepin& in mind EKarvy accelerate %ith Recovery.
Revival and Reappearance'=

Karvy has started /22@ on a stron& note %ith the reali,ation to si&nal some of
the challen&es it faced previous year' )n a competitive mar(et and a *randed
*usiness. Karvy need to carefully mana&e itself to avoid do%n tradin& or *rand
shifts *y consumers'
For Karvy. :amna&ar *ranch /22H %as truly e8hilaratin& *ecause ofJ
-uccessful implementation of a carefully crafted strate&y'
8cellence in e8ecution'
)mmense learnin& ena*lin& to set up a launch pad for
revitali,in& itself'
-ome competitive advanta&es are lon& lastin&' These are intan&i*le. difficult to
replicate and thus more sustaina*le' Karvy has focused on some of these to
&ain competitive advanta&es' There areJ
6innin& culture and a desire to e8cel in everythin& Karvy
do'
-tron& meanin&ful relationships %ith !ustomers alon& %ith
-trate&ic #artners in %hich Karvy operate and a*ove all. its o%n staff'
13
Karvy value and carefully nurture relationships %ith customers' Karvy truly
*elieve that more than technolo&ical pro%ess and *usiness process innovations.
it is the Efocus on relationships= %hich has *een the corner stone of satisfyin&
and successful presence in )ndia over many years'
This has *een possi*le %ith deep insi&ht of consumer *ehavior as %ell as
mar(et demand drivers. understandin& of the arena %here to operate and >uality
e8ecution O all than(s to a E&reater team= that ma(es this happen'
Karvy=s customers consider themselves part of Karvy family and share their
e8periences and dreams %ith other customers and thus Karvy *ecomes
successful not only in relatin& customers *ut also &ains ne% customers from
satisfied prevailin& customers'
Karvy %ant to create a stron& emotional *ond %ith ne% customers promoted *y
prevailin& customers'
14
2ar3y 'alue8:
)nte&rity
Responsi*ility
Relia*ility
;nity
;nderstandin&
8cellence
!onfidentiality
Karvy has ade>uate internal control systems and procedures commensurate
%ith the si,e nature of its *usiness' These system and procedures provide
reasona*le assurance of maintenance of proper accountin& records. relia*ility of
financial information. protection of resources and safe&uardin& of assets a&ainst
unauthori,ed use'
2ar3y !roup Companie8
2AR'( CO"S+5*A"*S 5)#)*,D
A8 the flag8hip company of the 2ar3y !roup6 2ar3y Con8ultant8 5imited
15
has al%ays remained at the helm of or&ani,ational affairs. pioneerin& *usiness
policies. %or( ethic and channels of pro&ress'
Havin& emer&ed as a leader in the re&istry *usiness.
the first of the *usinesses that %e ventured into. %e have no% transferred this
*usiness into a +oint venture %ith !omputershare 7imited of Australia. the
%orld=s lar&est re&istrar' 6ith the advent of depositories in the )ndian capital
mar(et and the relationships that %e have created in the re&istry *usiness. %e
*elieve that %e %ere *est positioned to venture into this activity as a
Depository #articipant' 6e %ere one of the early entrants re&istered as
Depository #articipant %ith 5-D7 95ational -ecurities Depository 7imited<. the
first Depository in the country and then %ith !D-7 9!entral Depository
-ervices 7imited<' Today. %e service over 4 la(hs customer accounts in this
*usiness spread across over /G2 citiesPto%ns in )ndia and are ran(ed amon&st
the lar&est Depository #articipants in the country' 6ith a &ro%in& secondary
mar(et presence. %e have transferred this *usiness to Karvy -toc( Bro(in&
7imited 9K-B7<. our associate and a mem*er of 5-. B- and H-'
2AR'( S*OC2 BRO2)"! 5)#)*,D
#ember - "atio nal Stoc4 ,Echange %"S,&6 *he Bombay Stoc4 ,Echange
%BS,&6 and *he ?yderabad Stoc4 ,Echange %?S,&
Karvy -toc( Bro(in& 7imited. one of the cornerstones of the
Karvy edifice. flo%s freely to%ards attainin& diverse &oals of the customer
throu&h varied services' !reatin& a plethora of opportunities for the customer
*y openin& up investment vistas *ac(ed *y research1*ased advisory services'
Here. &ro%th (no%s no limits and success reco&ni,es no *oundaries' Helpin&
the customer create %aves in his portfolio and empo%erin& the investor
completely is the ultimate &oal'
)t is an undisputed fact that the stoc( mar(et is
unpredicta*le and yet en+oys a hi&h success rate as a %ealth mana&ement
and %ealth accumulation option' The difference *et%een unpredicta*ility and a
safety anchor in the mar(et is provided *y in1depth (no%led&e of mar(et
functionin& and chan&in& trends. plannin& %ith foresi&ht and choosin&
one&rs>uoMs options %ith care' This is %hat %e provide in our -toc( Bro(in&
services'
6e offer services that are *eyond +ust a medium for
*uyin& and sellin& stoc(s and shares' )nstead %e provide services %hich are
multi dimensional and multi1focused in their scope' There are several
advanta&es in utili,in& our -toc( Bro(in& services. %hich are the reasons %hy
it is one of the *est in the country'
2AR'( )"',S*OR
S,R')C,S 5)#)*,D
RecogniFed a8 a leading merchant ban4er in the country6 we are
16
regi8tered with S,B) a8 a Category ) merchant ban4er' This reputation %as
*uilt *y capitali,in& on opportunities in corporate consolidations. mer&ers and
ac>uisitions and corporate restructurin&. %hich have earned us the reputation
of a merchant *an(er' Raisin& resources for corporate or $overnment
;nderta(in& successfully over the past t%o decades have &iven us the
confidence to rene% our focus in this sector'
"ur >uality professional team and our %or(1oriented
dedication have propelled us to offer value1added corporate financial services
and act as a professional navi&ator for lon& term &ro%th of our clients. %ho
include leadin& corporates. -tate $overnments. forei&n institutional investors.
pu*lic and private sector companies and *an(s. in )ndian and &lo*al mar(ets'
6e have also emer&ed as a trail*la,er in the arena
of relationships. *oth at the customer and trade levels *ecause of our
unsha(a*le inte&rity. seamless service and innovative solutions that are tuned
to meet varied needs' "ur team of committed industry specialists. havin&
e8tensive e8perience in capital mar(ets. further nurtures this relationship'
"ur financial advice and assistance in restructurin&.
divestitures. ac>uisitions. de1mer&ers. spin1offs. +oint ventures. privati,ation
and ta(eover defense mechanisms have elevated our relationship %ith the
client to one *ased on unsha(a*le trust and confidence'
2AR'( Computer8hare
Pri3ate 5imited

>e ha3e tra3er8ed wide 8pace8 to tie up with the worldB8 large8t tran8fer
agent6 the leading Au8tralian company6
!omputer share 7imited' The company that services
more than 0G million shareholders across 0222 corporate clients and ma(es its
presence felt in over ?/ countries across G continents has entered into a G21G2
+oint venture %ith us'
6ith our mana&ement team completely transferred to
this ne% entity. %e %ill aim to enrich the financial services industry than *efore'
The future holds ne% arenas of client servicin& and contemporary and relevant
technolo&ies as %e are &eared to deliver *etter value and foster *i&&er
investments in the *usiness' The %orld%ide net%or( of !omputer share %ill
hold us in &ood stead as %e e8pect to adopt international standards in addition
to levera&in& the *est of technolo&ies from around the %orld'
8cellence has to *e the order of the day %hen t%o companies %ith such
similar ideolo&ies of &ro%th. vision and competence. &et to&ether'
17
2AR'( !5OBA5
S,R')C,S 5)#)*,D
*he 8peciali8t Bu8ine88 Proce88 Out8ourcing unit of the 2ar3y !roup'
The le&acy of e8pertise and e8perience in financial services of the Karvy
$roup serves us %ell as %e enter the &lo*al arena %ith the confidence of *ein&
a*le to deliver and deliver %ell'
Here %e offer several delivery models on the understandin& that *usiness
needs are uni>ue and therefore only a customi,ed service could possi*ly fit the
*ill' "ur service matri8 has permutations and com*inations that create several
options to choose from'
Be it in re1en&ineerin& and mana&in& processes or deliverin& ne% efficiencies.
our service meets up to the most strin&ent of international standards' "ur
outsourcin& models are desi&ned for the &lo*al customer and are *ac(ed *y
sound corporate and operations philosophies. and domain e8pertise' #rovidin&
productivity improvements. operational cost control. cost savin&s. improved
accounta*ility and a %hole &amut of other advanta&es'
6e operate in the core mar(et se&ments that have emer&in& re>uirements for
speciali,ed services' "ur %ide vertical mar(et covera&e includes Ban(in&.
Financial and )nsurance -ervices 9BF)-<. Retail and Merchandisin&. 7eisure
and ntertainment. ner&y and ;tility and Healthcare'
2ar3y Comtrade
5imited

At 2ar3y Commoditie86 we are focu8ed on ta4ing commoditie8 trading to
new dimen8ion8 of reliability and profitability 6e have made commodities
tradin&. an essentially a&e1old practice. into a sophisticated and scientific
investment option'
Here %e ena*le trade in all &oods and products of a&ricultural and mineral
ori&in that include lucrative commodities li(e &old and silver and popular items
li(e oil. pulses and cotton throu&h a %ell1systemati,ed tradin& platform'
"ur technolo&ical and infrastructural stren&ths and especially our street1smart
s(ills ma(e us an ideal *ro(er' "ur service matri8 is holistic %ith a &amut of
advanta&es. the first and foremost *ein& our le&acy of human resources.
technolo&y and infrastructure that comes from *ein& part of the Karvy $roup'
"ur %ide national net%or(. spannin& the len&th and *readth of )ndia. further
supports these advanta&es' Re&ular tradin& %or(shops and seminars are
conducted to hone tradin& strate&ies to perfection' very move made is a
18
calculated one. *ased on relia*le research that is converted into valua*le
information throu&h daily. %ee(ly and monthly ne%sletters. calls and intraday
alerts' Further. personali,ed service is provided here *y a dedicated team
committed to &ivin& hassle1free service %hile the *ro(era&e rates offered are
e8tremely competitive
2ar3y )n8urance
Bro4ing 5imited
At 2ar3y )n8urance Bro4ing 5imited6 we pro3ide both life and non-life
in8urance product8 to retail indi3idual86 hi&h net1%orth clients and
corporates' 6ith the openin& up of the insurance sector and %ith a lar&e
num*er of private players in the *usiness. %e are in a position to provide tailor
made policies for different se&ments of customers' )n our +ourney to emer&e as
a personal finance advisor. %e %ill *e *etter positioned to levera&e our
relationships %ith the product providers and place the re>uirements of our
customers appropriately %ith the product providers' 6ith )ndian mar(ets
seein& a sea chan&e. *oth in terms of investment pattern and attitude of
investors. insurance is no more seen as only a ta8 savin& product *ut also as
an investment product' By settin& up a separate entity. %e %ould *e positioned
to provide the *est of the products availa*le in this *usiness to our customers'
"ur %ide national net%or(. spannin& the len&th and *readth of )ndia. further
supports these advanta&es' Further. personali,ed service is provided here *y
a dedicated team committed in &ivin& hassle1free service to the clients
2AR'(
R,A5*(GS,R')C,S%)"D)A&5imited
2AR'( Realty G Ser3ice8 %)ndia& 5imited %2RS)5& is en&a&ed in the
*usiness of real estate and property services offerin& value added property
services and offers individuals and esta*lishments a myriad of options across
investments. financin& and advisory services in the realty sector'
2AR'( Realty G Ser3ice8 %)ndia& 5imited HHHHHHHHHHHHH*a4e
a Realty Byte III
#romoted *y the KARBC $roup of companies. )ndia=s lar&est inte&rated
financial services company' KARBC Realty & -ervices )ndia 7imited carries
for%ard its le&acy of trust and e8cellence in investor and customer services
delivered %ith a passion for services and the hi&hest level of >uality that ali&n
19
%ith &lo*al standards'
2AR'( Realty G Ser3ice8 %)ndia& 5imited %elcomes you to ta(e a reality
chec( on realty options that you can *e rest assured of and of course profit
from'
>elcome to 2ar3y Stoc4 Bro4ing
KARBC -toc( Bro(in& 7imited. one of the cornerstones of the KARBC edifice.
flo%s freely to%ards attainin& diverse &oals of the customer throu&h varied
services' )t creates a plethora of opportunities for the customer *y openin& up
investment vistas *ac(ed *y research1*ased advisory services' Here. &ro%th
(no%s no limits and success reco&ni,es no *oundaries' Helpin& the customer
create %aves in his portfolio and empo%erin& the investor completely is the
ultimate &oal' KARBC -toc( Bro(in& 7imited is a mem*er ofJ
N 5ational -toc( 8chan&e 95-<
N Bom*ay -toc( 8chan&e 9B-<
N Hydera*ad -toc( 8chan&e 9H-<
#ember 1 5ational -toc( 8chan&e 95-< and The Bom*ay -toc( 8chan&e
9B-<'

Karvy -toc( Bro(in& 7imited. one of the
cornerstones of the Karvy edifice. flo%s freely to%ards attainin& diverse &oals of
the customer throu&h varied services' !reatin& a plethora of opportunities for the
customer *y openin& up investment vistas *ac(ed *y research1*ased advisory
services' Here. &ro%th (no%s no limits and success reco&ni,es no *oundaries'
Helpin& the customer create %aves in his portfolio and empo%erin& the investor
completely is the ultimate &oal'
Stoc4 Bro4ing Ser3ice8
)t is an undisputed fact that the stoc( mar(et
is unpredicta*le and yet en+oys a hi&h success rate as a %ealth mana&ement
and %ealth accumulation option' The difference *et%een unpredicta*ility and a
safety anchor in the mar(et is provided *y in1depth (no%led&e of mar(et
functionin& and chan&in& trends. plannin& %ith foresi&ht and choosin&
one&rs>uoMs options %ith care' This is %hat %e provide in our -toc( Bro(in&
services'
6e offer services that are *eyond +ust a
medium for *uyin& and sellin& stoc(s and shares' )nstead %e provide services
%hich are multi dimensional and multi1focused in their scope' There are several
advanta&es in utili,in& our -toc( Bro(in& services. %hich are the reasons %hy it
is one of the *est in the country'
20
6e offer tradin& on a vast platform M 5ational
-toc( 8chan&e and Bom*ay -toc( 8chan&e' More importantly. %e ma(e
tradin& safe to the ma8imum possi*le e8tent. *y accountin& for several ris(
factors and plannin& accordin&ly' 6e are assisted in this tas( *y our in1depth
research. constant feed*ac( and sound advisory facilities' "ur hi&hly s(illed
research team. comprisin& of technical analysts as %ell as fundamental
specialists. secure result1oriented information on mar(et trends. mar(et analysis
and mar(et predictions' This crucial information is &iven as a constant feed*ac(
to our customers. throu&h daily reports delivered thrice daily M The #re1session
Report. %here mar(et scenario for the day is predicted. The Mid1session Report.
timed to arrive durin& lunch *rea( . %here the mar(et forecast for the rest of the
day is &iven and The #ost1session Report. the final report for the day. %here the
mar(et and the report itself is revie%ed' To add to this repository of information.
%e pu*lish a monthly ma&a,ine &ld>uoMKarvy M The Finapolis&rd>uoM. %hich
analy,es the latest stoc( mar(et trends and ta(es a close loo( at the various
investment options. and products availa*le in the mar(et. %hile a %ee(ly report.
called &ld>uoM Karvy Ba,aar Baatein&rd>uoM. (eeps you more informed on the
immediate trends in the stoc( mar(et' )n addition. our specific industry reports
&ive comprehensive information on various industries' Besides this. %e also
offer special portfolio analysis pac(a&es that provide daily technical advice on
scrips for successful portfolio mana&ement and provide customi,ed advisory
services to help you ma(e the ri&ht financial moves that are specifically suited to
your portfolio'
"ur -toc( Bro(in& services are %idely net%or(ed across )ndia. %ith the num*er
of our tradin& terminals providin& retail stoc( *ro(in& facilities' "ur services have
increasin&ly offered customer oriented convenience. %hich %e provide to a
spectrum of investors. hi&h1net%orth or other%ise. %ith e>ual dedication and
competence'
But true to our spirit. this success is not our final destination. *ut +ust a platform
to launch further enhanced >uality services to provide you the latest in
convenient. customer1friendly stoc( mana&ement'
"ver the years %e have ensured that the trust of our customers is our *i&&est
returns' Factors such as our success in the lectronic custody *usiness has
helped *uild on our tradition of trust even more' !onse>uentially our retail client
*ase e8panded very fast'
To empo%er the investor further %e have made serious efforts to ensure that our
research calls are disseminated systematically to all our stoc( *ro(in& clients
throu&h various delivery channels li(e email. chat. -M-. phone calls etc'
"ur foray into commodities *ro(in& has *een path *rea(in& and %e are in the
process of convertin& e8istin& traders in commodities into the more or&ani,ed
mainstream of tradin& in commodity futures. *oth as a tradin& and ris( hed&in&
mechanism'
)n the future. our focus %ill *e on the emer&in& *usinesses and to meet this
o*+ective. %e have enhanced our manpo%er and revitali,ed our (no%led&e *ase
21
%ith enhances focus on Futures and "ptions as %ell as the commodities
*usiness'
Depo8itory Participant8
The onset of the technolo&y revolution in
financial services )ndustry sa% the emer&ence of Karvy as an electronic
custodian re&istered %ith "ational Securitie8 Depo8itory 5td %"SD5& and
Central Securitie8 Depo8itory 5td %CSD5& in ?33F' Karvy set standards
ena*lin& further comfort to the investor *y promotin& paperless tradin& across
the country and emer&ed as the top $ Depo8itory Participant8 in the country in
terms of customer serviced'
"fferin& a %ide tradin& platform %ith a dual
mem*ership at *oth 5-D7 and !D-7. %e are a po%erful medium for tradin& and
settlement of demateriali,ed shares' 6e have esta*lished live D#Ms. )nternet
access to accounts and an easier transaction process in order to offer more
convenience to individual and corporate investors' A team of professional and
the latest technolo&ical e8pertise allocated e8clusively to our demat division
includin& technolo&ical enhancements li(e -#D1e. ma(e our response time
>uic( and our delivery impecca*le' A %ide national net%or( ma(es our
efficiencies accessi*le to all'
Di8tribution of -inancial Product8
The paradi&m shift from pure sellin& to
(no%led&e *ased sellin& drives the *usiness today' 6ith our %ide portfolio
offerin&s. %e occupy all se&ments in the retail financial services industry'
A ?422 team of hi&hly >ualified and dedicated
professionals dra%n from the *est of academic and professional *ac(&rounds
are committed to maintainin& hi&h levels of client service delivery' This has
propelled us to a position amon& the top distri*utors for e>uity and de*t issues
%ith an estimated mar(et share of ?GA in terms of applications mo*ili,ed.
*esides *ein& esta*lished as the leadin& procurer in all pu*lic issues'
To further tap the immense &ro%th potential in
the capital mar(ets %e enhanced the scope of our retail *rand. Karvy O the
Finapolis . there*y providin& plannin& and advisory services to the mass
affluent' Here %e understand the customer needs and lifestyle in the conte8t of
present earnin&s and provide ade>uate advisory services that %ill necessarily
help in creatin& %ealth' :udicious plannin& that is customi,ed to meet the future
needs of the customer deliver a service that is e8emplary' The mar(et1savvy and
the i&norant investors. *oth find this service very satisfactory' The ed&e that %e
have over competition is our portfolio of offerin&s and our professional e8pertise'
22
The investment plannin& for each customer is done %ith an un*iased attitude so
that the service is truly customi,ed'
"ur monthly ma&a,ine. Finapolis. provides up1
dated mar(et information on mar(et trends. investment options. opinions etc'
Thus empo%erin& the investor to *ase every financial move on rational thou&ht
and prudent analysis and em*ar( on the path to %ealth creation'
Ad3i8ory Ser3ice8
;nder our retail *rand EKarvy O the FinapolisL.
%e deliver advisory services to a cross1section of customers' The service is
*ac(ed *y a team of dedicated and e8pert professionals %ith varied e8perience
and *ac(&round in handlin& investment portfolios' They are continually en&a&ed
in desi&nin& the ri&ht investment portfolio for each customer accordin& to
individual needs and *ud&et considerations %ith a comprehensive support
system that focuses on tradin& customersL portfolios and providin& valua*le
inputs. monitorin& and mana&in& the portfolio throu&h varied technolo&ical
initiatives' This is made possi*le *y the e8pertise %e have &ained in the
*usiness over the years' Another venture to%ards *ein& investor1friendly is the
circulation of a monthly ma&a,ine called EKarvy 1 the FinapolisL' !overin& the
latest of mar(et ne%s. trends. investment schemes and research1*ased opinions
from e8perts in various financial fields'
Pri3ate Client !roup
This speciali,ed division %as set up to cater
to the hi&h net %orth individuals and institutional clients (eepin& in mind that
they re>uire a different (ind of financial plannin& and mana&ement that %ill
au&ment not +ust e8istin& finances *ut their life1style as %ell' Here %e follo% a
hard1nosed *usiness approach %ith the soft touch of dedicated customer care
and personali,ed attention'
For this purpose %e offer a comprehensive
and personali,ed service that encompasses plannin& and protection of finances.
plannin& of *usiness needs and retirement needs and a host of other services.
all provided on a one1to1one *asis'
"ur research reports have *een %idely
appreciated *y this se&ment' The delivery and support modules have *een fine
tuned *y &ivin& our clients access to online portfolio information. constant
updates on their portfolios as %ell as value1added advice on portfolio churnin&.
sector s%itches etc' The investment recommendations &iven *y our research
team in the cash mar(et has en+oyed a hi&h success rate'
23
Branche8
State *otal
Branche
8
A5DHRA #RAD-H H0
A--AM F
B)HAR ?2
!HA5D)$ARH ?
!HHATT)-$ARH 0
$"A /
$;:ARAT /4
HARCA5A ?G
H)MA!HA7 #RAD-HH
:AMM; & KA-HM)R ?
:HARKA5D 0
KAR5ATAKA @F
KRA7A /@
MADHCA #RAD-H ?3
MAHARA-HTRA /0
MA5)#;R ?
M$HA7ACA ?
56 D7H) ??
"R)--A ?H
#;5:AB ??
RA:A-THA5 ?2
-)KK)M ?
TAM)7 5AD; G0
TR)#;RA ?
;5)"5 TRR)T"RC ?
;TTAR #RAD-H HF
;TTARA5!HA7 G
6-T B5$A7 /4

Bu8ine88 A88ociate8
State Bu8ine88
A88ociate8
24
A5DHRA
#RAD-H
GH
B)HAR /
D7H) 0
$;:ARAT ?0
HARCA5A 0
H)MA!HA7
#RAD-H
?
:HARKHA5D ?
KAR5ATAKA ?G
KRA7A /3
MADHCA
#RAD-H
4
MAHARA-TRA /?
"R)--A H
#;5:AB9;T< ??
RA:A-THA5 @
TAM)75AD; F
TR)#;RA H
;TTAR
#RAD-H
?3
6-T
B5$A7
G
)n8urance
Product8
A3i3a
N 7ife -hield #lan
N Coun& Achiever #lan
Bajaj
N 7ife 7on& $ain #lan
N )nvest $ain #lan
N !ash $ain #lan
N Health !are #lan
N -%arna Bishranthi #lan
Bharati A7A
N Future !onfident ))
25
N Future !onfident
N -ecure !onfident #lan
N 6ealth !onfident #lan
Birla Sun 5ife
N 7ife !ompanion1Money Bac( #lan
N My !hild #lan
N 7ady&uard #lan
N Ma&num Multiplier #lus
Chola
N #arivar of the !holamandalam
N #arivar 1 The complete family protection plan
?D-C
N !hildrenLs #lan
N -in&le #remium 6hole of 7ife #lan
N 7oan !over )nsurance #olicy
N The Money Bac( #lan
N ndo%ment Assurance #lan
N ;nit 7in(ed #ension #lus
N ;nit 7in(ed ndo%ment -uvidha #lus
)C)C) Prudential
N The 7ife $uard #lan
N !ancer !are
N Dia*etes !are
N Dia*etes !are #lus
)"! 'y8ya
N The !on>uerin& 7ife #lan
2ota4
N Kota( Fle8i #lan
N -afe )nvestment #lan
N !hild Advanta&e #lan
N Head-tart Assure 6ealth
N Money Bac( #lan
5)C
N :eevan A(shay
N The Bima $old #lan
N :eevan 5idhi #lan
N Future #lus 1 ;7##
N :eevan Re(ha #lan
N :eevan Bharathi
N :eevan -hree #olicy
N :eevan -athi #lan
N :eevan Anand #olicy
N Housin& 7oans
N 5e% !hild #lan 1 :eevan Anura&
26
N ndo%ment Assurance #olicy
#"(5
N 7ife $ain #lus
N 7ife Ma(er
N !hild Money Bac( #lan
N 6hole 7ife #lan
N The 7ife $ain #lus #olicy
N Ma&ic of 6hole 7ife
N asy 7ife Retirement #lan
N 7ife Ma(er #ension #lan
N 7ife #ay Money Bac( #lan
N 5e% 7ife )nvest
#et - 5ife
N Bhavishya #lan
Reliance 5ife )n8urance
N The Cuva -hreeJ!hild #lan
N Money $uarantee #lan
SB)
N The -etu*andhan #lan
*ata A)!
N The 5irvana #lus #lan
N Health #rotector #lan
N Mahalife 7ife )nsurance #lan
N 7ife #lus
N )nvest Assure ))
*erm8 and Condition8
TRM- A5D !"5D)T)"5- $"BR5)5$ )5TR5T BA-D TRAD)5$
#lease read the follo%in& instructions *efore si&nin& the client a&reement
?' !lient 9first holder< should initial at the places mar(ed %ith a Q' 9 Total of
?2 initials alon& side mar(in&s and at the *ottom of each pa&e<
/' "nly the first holder si&ns on the client a&reement' 9 ?si&nature<
H' The client a&reement should *e %itnessed
@' #lease read the &eneral instructions mentioned in the instruction *oo(let
D,SCR)P*)O" O- PAR*),S
This a&reement is entered into on 1111P11111P1111111 *et%een Karvy -toc( Bro(in&
7imited. mem*er *ro(er Q of the 5ational -toc( 8chan&e of )ndia 7imited.
ordinarily carryin& on *usiness in sale and purchase of securities and is *earin&
-B) Re&istration 5um*er )"B .$/<</1$0 and carryin& on such *usiness in the
27
name and style of Karvy -toc( Bro(in& 7imited from its re&istered office at :.J6
Road "o96 Banjara ?ill8 ?yderabad :// /$96 Andhra Prade8h6 )ndia
9hereinafter referred to as the mem*er *ro(er. %hich e8pression shall unless
repu&nant to the conte8t or meanin& thereof. *e deemed to mean and include its
le&al successors and permitted assi&ns<
-------ir8t ?olderB8 "ame------- an individual sPo 11111-atherB8 K ?u8bandB8
"ame---------- residin& at Q Addre88-------------- intendin& to transact in securities
usin& the services of the mem*er *ro(er. throu&h the online tradin& terminal of
the said mem*er *ro(er 9hereinafter referred to as the client %hich e8pression
shall. unless repu&nant to the conte8t or meanin& thereof. *e deemed to mean
and include its le&al successors and permitted assi&ns<
>?,R,AS:
?' A' The mem*er *ro(er is a mem*er of 5ational -toc(
8chan&e of )ndia 7imited 9hereinafter referred to as the e8chan&e< and
holds a certificate of re&istration &ranted under Rule @ of the -ecurities
and e8chan&e Board of )ndia 9-toc( Bro(ers and -toc( -u*1Bro(ers<
Rules and Re&ulations. ?33/ M A5D
/' B' The mem*er *ro(er offers online tradin& services to
the client. su*+ect to the terms of the present a&reement and the -B)
&uidelines in this re&ard'
H' !' The mem*er *ro(er and the client are re>uired to
enter into an a&reement layin& do%n the scope of their authorityP
responsi*ility. in relation to the transactions in securities usin& the online
tradin& facilities that the mem*er *ro(er ma(es availa*le to them
@' D' The client is desirous of investin&P tradin& in
securities admitted for dealin& on the 5ational -toc( 8chan&e as defined
*y the *ye1la% of the said 8chan&e throu&h online tradin& services *y
the mem*er *ro(er'
G' ' The mem*er *ro(er is satisfied and shall
continuously satisfy themselves of the &enuineness and financial
soundness of the client and investment o*+ectives relevant to the services
to *e provided'
4' F' The client is satisfied %ith the capa*ility of the
mem*er *ro(er to deal in securities on *ehalf of them and the client shall
continue to satisfy themselves of the same *efore e8ecutin& orders
throu&h the online tradin& facilities of such mem*er *ro(er'
0' $' The mem*er *ro(er has ta(en steps and shall ta(e
steps to ma(e the client a%are of the precise nature of the mem*er
*ro(er=s lia*ility for *usiness to *e conducted. includin& any limitations on
that lia*ility and the capacity in %hich it acts'
"O> )* )S A!R,,D B( A"D B,*>,," *?, PAR*),S ?,R,*O AS
-O55O>S:
?' )"*,RPR,*A*)O" O- R,C)*A5S
The recitals form an inte&ral part of this a&reement'
28
?' D,-)")*)O"S
?' /'? For the purposes of this a&reement
9a< CClientD means and includes any individual. %ho transacts in securities
throu&h the auspices of the mem*er *ro(er herein named as such. and
see(s to transact such *usiness in securities throu&h the use of Tradin&
facilities of the said mem*er *ro(er'
9*< CDepo8itoryD refers to the 5ational -ecurities Depository 7imited. Mum*ai'
95-D7<
9c& COnline *radingD means carryin& on the *usiness of stoc( *ro(in&
usin& electronic systems as "rder Routin& mechanisms to for%ard
orders to the electronic system of the -toc( 8chan&e'
9d< C,EchangeD refers to the 5ational -toc( 8chan&e of )ndia 7imited' 95-<
9e< C#ember Bro4erD is Karvy -toc( Bro(in& 7imited. a stoc( *ro(er re&istered
as a -toc( Bro(er in terms of the -B) 9-toc( Bro(ers and -u*1Bro(ers<
Rules and Re&ulations. ?33/ and are re&istered as -toc( Bro(ers %ith
-B) in terms of the said rules and re&ulations'
?' 9f< C*rading AccountD shall mean a rupee account opened *y the
client %ith the mem*er *ro(er. %hich is lin(ed to the online tradin& facility
throu&h the %e*1site'
9&< CDepo8itory Participant or CDe8ignated Depo8itory ParticipantD means
Karvy Depository #articipant or any other depository participant as may *e
specially desi&nated as a Depository #articipant *y Karvy -toc( Bro(in&
7imited. respectively'
9h< CBan4D or CDe8ignated Ban4D means any *an( as may *e notified from
time to time on the %e*site. %ith %hom the mem*er *ro(er has made
arran&ement in respect of the "nline Tradin& -ervices to *e provided to the
clients in terms of the presents'
9i< CBan4 AccountD or CDe8ignated Ban4 AccountD means an account
opened. maintained and operated *y the clients %ith a *an( in terms of and
pursuant to the re>uirements mentioned in the a&reement'
9+< CDemat AccountD or CDe8ignated Demat AccountD means an account
maintained in terms of the Re&ulation @/ of the -B) 9Depositories and
#articipants< Re&ulations. ?334 *y Karvy Depository #articipant in its
capacity as a Depository #articipant or any other Depository #articipant as may
*e specified *y Karvy -toc( Bro(in& 7imited'
9(& C#argin *radingD refers to tradin& in securities *y payin& an advance
amount as mar&in to the mem*er *ro(er in cash and E or as securities. in
the follo%in& eventsJ
9i< #urchase of securities of a value in e8cess of the money %ith the
purchaser. in the Tradin& Account. at the time %hen the order is
placed on the %e*site'
?' 9ii< -ale of securities in e8cess of the securities availa*le in the demat
account of the seller on the date
%hen the order is placed on the %e*site'
29
9l< CPay-in DateD means the day on %hich the clearin& house of the stoc(
e8chan&e receives in the securities and monies due from the mem*ers
pursuant to their transactions in securities. over the period of the
settlement cycle of the 8chan&e'
9m< CPay-out DateD means the day on %hich the clearin& house of the stoc(
e8chan&e pays out securities and monies due to mem*ers pursuant to
their transactions in securities. over the period of the settlement cycle of
the 8chan&e'
9n& C*erm8 and Condition8D means the information availa*le on the %e*site
under the head C*erm8 and Condition8D and includes *ut is not limited to
any information availa*le on clic(in& on any hyperlin( to the section named
terms and !onditions on the said %e*site'
9o< C>eb8iteD means the %e*site located at ;R7 httpJPP%%%'(arvy'com
/'/ All %ords and terms not defined in this a&reement or on the %e*site
mentioned a*ove shall ta(e on the same meanin&s as may *e attri*uted in
terms of the -B) P 8chan&e $uidelines. Rules and re&ulations'
?' $ R,PR,S,"*A*)O"S A"D >ARRA"*),S
$1 The clients here*y %arrant that they are capa*le of e8ecutin&
the present a&reement and that the terms of the presents are
not in contravention of any ri&hts of any party %ith %hom such
client has any a&reements any time prior to the e8ecution of
this A&reement'
$. The clients %arrant that they have. maintain and operate a
valid account %ith a desi&nated *an(' The clients state that
they have opened a valid and su*sistin& Demat Account %ith a
desi&nated depository participant'
$$ The clients a&ree to provide and continue to provide all details
a*out themselves as may *e re>uired *y the mem*er *ro(er
includin& *ut not restricted to #A5 5um*er. and state that all
details and facts represented to the mem*er *ro(er are true'
$9 The mem*er *ro(er states that they have complied %ith all
statutory and re&ulatory re>uirements to offer the "nline
Tradin& -ervices throu&h the %e*site %%%'(arvy'com'
$: The clients %arrant that all or any securities deposited *y them
%ith the mem*er *ro(er in respect of mar&in tradin&
re>uirements or other%ise. are o%ned *y them and that the
title thereof is clear and free of encum*rances'
/' 9 R,!)S*RA*)O" A"D ACCO+"* OP,")"!
91 The mem*er *ro(er shall. after re&istration. permit the re&istered
user. a tradin& pass%ord %hich ena*les himPher Pthem to avail of the
facilities of "nline Tradin& throu&h the said %e*site' All terms
30
re&ardin& the use and modification of such pass%ord shall *e
&overned *y information on the %e*site' The clients are a%are that
authentication technolo&ies and strict security measures are re>uired
for the )nternet tradin& throu&h order routed system and underta(e to
ensure that the pass%ord of the client and Por of their authori,ed
representative are not revealed to any third party' The clients also
a&ree to indemnify the mem*er *ro(er from any loss. in+ury. claim or
any action instituted a&ainst the mem*er arisin& from the misuse of
the pass%ord *y any party'
9. The services on the %e*site shall *e availa*le to the rere&istered
user su*+ect to the terms and conditions mentioned thereof'
9$ The clients shall furnish a duly filled application form to the mem*er
*ro(er indicatin& their intention to transact in securities usin& the
"nline Tradin& facilities on the %e*site. in the format supplied *y the
mem*er *ro(er'
99 The clients shall provide to the mem*er *ro(er. a po%er of attorney
authori,in& the mem*er *ro(er to de*itPcreditP*loc(Pcreate lienPpled&e
clients depository accounts throu&h their authori,ed personnel. to the
e8tent of the transaction conducted *y the said clients any due and
paya*le to the mem*er *ro(er'
9: The clients shall authori,e the mem*er *ro(er to de*itPcredit or *loc(
his *an( account in the manner as per the procedure laid do%n in the
terms and conditions and as per practices follo%ed *y the *an( in this
re&ard' The clients also authori,e the mem*er *ro(er to create lien on
the amount lyin& in their *an( account in the manner specified in the
terms and conditions'
9; The mem*er *ro(er. after satisfyin& themselves that the pre1
re>uisites have *een met *y the clients. may re&ister the clients as a
re&istered user of the %e*site and the "nline Tradin& facilities may
*e made availa*le to the clients'
9< The mem*er *ro(er may' "pen one or more accounts in the name of
the re&istered user in the *oo(s of the mem*er *ro(er'
90 The clients a&rees that all the orders placed *y them for securities
throu&h the %e*site shall *e %ithin the parameters defined and
mentioned in the terms and conditions'
: *RAD)"!
:1 *RAD)"! ACCO+"*S
1 The clients a&ree to open a tradin& account %ith the mem*er *ro(er'
. The clients a&ree that the mem*er *ro(er may re>uire the clients at
any time durin& the su*sistence of the presents. to open one or
more tradin& accounts' The clients a&rees that the de*itPcredit for all
the transactions may *e effected in thisPthese accounts. or *et%een
such accounts. in the manner deemed fit *y the mem*er *ro(er'
31
$ The !lients a&ree that they shall place orders for the purchase of
securities in respect of delivery accounts %here the securities to *e
purchased are of a value that shall not. in a&&re&ate e8ceed teh
advance paid *y the clients into such tradin& account or the amount
in the *an( account and such monies shall *e *loc(ed in favor of the
mem*er *ro(er *y the *an(. or the securities in the demat account
shall *e *loc(ed in favor of the mem*er *ro(er. as the case may *e'
9 The clients a&ree that they shall place orders for the purchase of
securities in respect of mar&in tradin&. they shall *e *ound *y the
rules in this re&ard that are made applica*le to them *y mention in
the terms and conditions on the %e*1site and as modified from time
to time'
: The clients a&ree that they shall *e re>uired to ma(e such mar&in
payments as are paya*le. as per the time schedule prescri*ed *y
the mem*er *ro(er *y mention on the terms and conditions. from
time to time' -uch mar&in payments. if any. shall *e paya*le in cash
or securities as specified *y the mem*er *ro(er in the terms and
conditions or any section of the %e*1site and modified from time to
time' #rovided that the securities. if any. accepted as mar&ins. shall
*e valued *y the mem*er *ro(er as per the terms and conditions on
the %e*1site'
; The !lient authori,es mem*er *ro(er to pled&e these securities %ith
e8chan&e to meet mar&inPcapital ade>uacy re>uirement of mem*er
*ro(er' He further authori,es the mem*er *ro(er to sell these
securities to recover any dues paya*le *y him to mem*er *ro(er'
< The clients a&ree that all payments due to the mem*er *ro(er %ill *e
made %ithin the specified time and in the event of any delay. the
mem*er *ro(er may refuse. at their discretion. to carry out
transactions on *ehalf of the clients' The clients a&ree that
alternatively. the mem*er *ro(er may. at their sole discretion. s>uare
off such transactions and the costsPlosses if any. thereof shall *e
*orne solely and completely *y the clients'
0 The clients a&ree. that %ithout pre+udice to any other remedy or ri&ht
prescri*ed in the presents. the mem*er *ro(er may char&e daily
interest at the rate of /A per month for any delay in the payment
char&es. mar&in or any other sum due to the mem*er as may *e
applica*le'
:. BA"2 ACCO+"*
?' The clients a&ree that the mem*er *ro(er may. at any time durin&
the su*sistence of any arran&ement relatin& to the su*+ect matter of
the presents. re>uire the clients to open one or more accounts %ith a
desi&nated *an(' The clients a&ree that the de*itPcredit for all the
transactions may *e effected in thisPthese accounts'
32
/' The clients a&rees that mem*er *ro(er shall have the ri&ht. at any
time durin& the su*sistence of this a&reement. to &ive any
instructions to the *an(s %ith %hom they have affiliations or any
other arran&ement. in respect of the account of the clients
maintained %ith such *an(' The clients a&ree that they shall have no
cause of action in respect of any instruction that may *e &iven to the
*an( in respect of their accounts maintained %ith such *an( in
pursuance of the presents'
H' The clients a&ree that the mem*er *ro(er may. %ithout assi&nin&
any reason thereof. and %ithout issuin& any notice of the same to
the clients. reveal information availa*le %ith the mem*er *ro(er in
the course of the arran&ement %ith the clients. to the *an( %ith
%hom such clients maintain *an( accounts pursuant to the presents.
and the clients shall have no remedy therefrom'
@' The clients shall a&ree that in the event that the desi&nated *an(
terminates the a&reement %ith the clients in respect of the *an(
account maintained *y the clients %ith such desi&nated *an(. for
any reason or informs the mem*er *ro(er of any misdemeanor or
trans&ression *y the clients in the operation of the account or in any
other circumstance resultin& in the closure or in operation of the said
*an( account %ith the desi&nated *an(. the mem*er *ro(er may. at
their discretion terminate services to the clients and the clients shall
have no remedy therefrom'
G' 5ot%ithstandin& anythin& contained in any other a&reement or
arran&ement. if any. *et%een the parties hereto. the clients here*y
authori,e the mem*er *ro(er to release all payments due to them
from the tradin& account maintained %ith the mem*er *ro(er.
a&ainst specific re>uest in that *ehalf made in the manner and
follo%in& the procedure laid do%n in the terms and conditions' For
the purposes of this clause. any re>uest made throu&h or on the
%e*1site shall *e sufficient for the mem*er *ro(er to e8ecute an
instruction'
:$ D,#A* ACCO+"*
?' The clients a&ree to open. maintain and operate a valid demat
account %ith the desi&nated depository participant'
/' The clients a&ree that the mem*er *ro(er may re>uire the clients. at
any time durin& the su*sistence of any arran&ement relatin& to the
su*+ect matter of the presents. to open one or more demat accounts'
The clients a&ree that the de*itPcredit for all the transactions are to
*e effected in thisPthese accounts'
:9 ORD,RS
33
?' The clients a&ree that all the orders placed throu&h the %e*1site
shall *e for%arded *y the system to the 5ational -toc( 8chan&e
7imited. as may *e applica*le. in respect of the arran&ement
*et%een the parties'
/' The clients a&ree that if. any circumstance or for any reason. the
mar(et closes *efore the acceptance of the "rder *y the 8chan&e.
the "rder may *e re+ected' The clients a&ree further. that the
mem*er *ro(er may re+ect "rders if the same are re+ected *y the
-toc( 8chan&e for any reason' )n case of re+ection of an order due
to re+ection *y the 8chan&e. the clients a&ree that the order shall
remain declined and shall not *e reprocessed in any event'
H' The mem*er *ro(er may. at their sole discretion. re+ect any order
placed on the %e*1site due to any reason. includin& *ut not limited to
the non1availa*ility of funds in the tradin& account of the clients. non1
availa*ility of securities in the Demat account of the clients %ith a
desi&nated depository participant. insufficiency of mar&in amount if
the clients opts for mar&in tradin&. suspension of scrip1specific
tradin& activities *y or on an 8chan&e and the applica*ility of circuit
*rea(er to a scrip in %hich orders are placed throu&h the %e*1site'
@' The clients are a%are that the mem*er *ro(er has provided on the
%e*1site. a facility for reconfirmation of orders. %hich are lar&er that
those specified *y the mem*er *ro(erLs ris( mana&ement. and is
also a%are that the mem*er *ro(er has the discretion to re+ect the
e8ecution of such orders *ased on such ris( perception'
G' The clients a&ree further that the mem*er *ro(er shall have the ri&ht
to re+ect any order placed *y the clients for any reason and at any
time %ithout notice to the clients' #rovided that the order placed *y
the clients can only *e re+ected *y the mem*er *ro(er in the event of
impossi*ility. or pursuant to any of the terms mentioned in this
A&reement. circulars. rules. re&ulations. notifications. Bye1la%s or
le&islation of any re&ulatory authority. or pursuant to any
termsParran&ement *et%een the clients and the mem*er *ro(er or
the clients and the depository participant. %hether such arran&ement
is e8ecuted prior to or durin& the su*sistence of this A&reement'
4' The clients a&ree that. if the order is not accepted on the %e*1site
for any reason. the mem*er *ro(er shall have the ri&ht to treat the
order as havin& lapsed'
0' The clients a&ree that the mem*er *ro(er shall not *e lia*le or
responsi*le for non1e8ecution of orders placed throu&h the %e*1site
due to the failure of any system or lin( or due to any other reason
%hatsoever'
F' The mem*er *ro(er. may at their sole discretion permit clients to use
the %e*1site for the routin& of their orders in respect of securities.
irrespective of the amount in the *alance of the account of the
clients'
34
3' The clients a&ree to a*ide %ith and *e *ound *y all the Rules and
!irculars that the mem*er *ro(er may issue from time to time. and
all rules. re&ulations and *ye1la%s of the 8chan&e as are in force
pertainin& to the transactions on their *ehalf carried out *y the
mem*er *ro(er and the orders place *y them on the %e*1site'
?2' The mem*er *ro(er may inform the clients of the acceptance or
re+ection of the order placed *y the clients throu&h the %e*1site. and
the reason therefor %ithin the t%enty four hours of the placin& of
such order throu&h the electronic mode at the e1mail id provided *y
the clients %hile re&isterin& for the service on the %e*1site or as
modified thereafter'
??' The systems used *y the mem*er *ro(er for providin& "nline
Tradin& services are &enerally capa*le of assessin& the ris( of the
clients as soon as the order comes in'
?/' Any and all instructions issued *y an authori,ed representative of
the clients shall *e *indin& on the clients in accordance %ith the
letter authori,in& the said representative to deal on *ehalf of the
clients' All authentication of the authority of a client to instruct the
mem*er *ro(er to deal on *ehalf the client shall *e determined *y
the terms in this re&ard mentioned on the %e*1site'
:: C5,AR)"! A"D S,**5,#,"*
?' The 8chan&e may cancel a trade suo motu %ithout assi&nin&
any reason thereof' )n the event of such cancellation the
mem*er *ro(er shall *e entitled to cancel the relative contract
or contracts. if any. %ith the clients'
/' The mem*er *ro(er may directly credit the demat account of
the clients %ith the desi&nated depository participant for the
purchase of the securities *y the clients %ithin forty ei&ht hours
of the receipt of the securities from the e8chan&e on the pay1
out day' #rovided that if the order placed *y the clients throu&h
the %e*1site is for securities. %hich are in the no1delivery
period. such securities shall *e credited to the tradin& account
of the clients only at the time of settlement of trades. as per the
schedule of the e8chan&e' Ho%ever.
9a< )f any sum is due from the clients the mem*er *ro(er
may %ithhold the credit of securities to the said Demat
account of the clients %ith the desi&nated depository
participant'
9*< Delivery arisin& from an order placed from the %e*1site
in respect of a mar&in tradin& account. may not *e
credited to the demat account of the clients *ut %ill *e
disposed of in a manner prescri*ed in the terms and
conditions'
35
H' Any sale delivery not made to the mem*er *ro(er at the time of
trade must *e made at least forty1ei&ht hours prior to the pay1
out date in respect of the settlement in %hich such purchase is
made' 7osses. if any. that may accrue in the event of a default
in completin& the delivery on the 8chan&e *y the mem*er
*ro(er resultant of a delay in the delivery *y the clients. shall *e
*orne solely and completely *y the clients' 7osses for the
purposes of this clause shall include auction de*ts. if any
incurred as a result of non1delivery of securities on the
settlement date on the e8chan&e'
:; D,-A+5* A"D CO"S,=+,"C,S *?,R,O-
?' The clients a&ree that they shall *e deemed to have defaulted terms
of this a&reement in circumstances includin& *ut not restricted to the follo%in&J
9a< Any delay in payment of mar&ins. char&es or delivery in respect of
this a&reement for transactions e8ecuted on *ehalf of the clientsM
9*< Any contravention of the terms contained in the presentsM
9c< Any misrepresentation or false statement or omission. or misleadin&
information supplied *y the clients to the mem*er *ro(erM
/' The mem*er *ro(er may terminate the services made availa*le to
the clients at any time and %ithout issuin& any notice or assi&nin& any reason
thereof'
H' )n the event of a default of this a&reement *y a clients. the mem*er
*ro(er shall *e entitled to any or all of the follo%in& courses of actionJ
a< )mmediate termination of this a&reement and provision of services in
terms of this a&reement'
*< "ther remedies as may *e availa*le in terms of the la% for the time
*ein& in force'
c< Ar*itration in terms of this a&reement'
d< !har&e of an amount that shall not e8ceed the actual losses
incurred *y the mem*er *ro(er conse>uent to the default alon& %ith the interest
at mar(et rates'
:< 5),"
?' All the funds of the clients in the *an( account shall *e su*+ect to
lien for the dischar&e of any or all payments due to the mem*er *ro(er from the
clients. or in respect of any other o*li&ation that clients may have to the mem*er
*ro(er'
/' All securities in the demat account opened in terms of this
a&reement %ith a desi&nated depository participant. shall *e su*+ect to lien for
the dischar&e of any or all payments due to the mem*er *ro(er from the clients
or any other o*li&ation that the clients may have to the mem*er *ro(er and may
*e held *y the mem*er *ro(er as a security a&ainst default *y the clients in
respect of the services already availed of *y the clients'
36
H' The enforcement of the lien aforementioned in clauses G'0'? and
G'0'/ shall *e at the sole and complete discretion of the mem*er *ro(er and the
mem*er *ro(er alone may decide the securities to *e sold. if any'
@' The clients authori,es the mem*er *ro(er to *loc( securities a&ainst
pendin& order or pled&e securities in favor of the mem*er *ro(er a&ainst any of
the dues' #rovided that re>uirement may *e %aived y the mem*er *ro(er. at
their discretion. *y suita*le modification to the terms and conditions'
:0 )"',S*#,"* AD')C,
?' The clients a&ree that the mem*er *ro(er shall not *e re>uired to
provide the clients %ith any form of le&al. accountin& or ta8 related advice'
/' The clients a&ree that none of the services availa*le on the %e*site
shall amount to investment advice on the part of the mem*er *ro(er'
:J #)SC,55A",O+S
?' The clients a&ree that all decisions %ith re&ard to the amount that
may *e placed as mar&in. the e8posure availa*le to the clients as a&ainst the
funds availa*le in the *an( account and the authori,ed tradin& limit shall *e
decided *y the mem*er *ro(er at their sole discretion and no reasons thereof
are re>uired to *e &iven to the clients'
/' The clients a&ree that that shall *e *ound *y all or any chan&es or
modifications that are made to this a&reement *y the mem*er *ro(er. at its sole
and complete discretion'
H' The clients a&ree that a modification to the terms and conditions on
the %e*site shall amount to a valid modification of the presents'
@' The clients a&ree that the mem*er *ro(er may at any time terminate
the services availa*le on the %e*site on the *asis of %hich this a&reement is
dra%n and such termination of services for any reason shall not *e in
contravention of the presents' )n the event that such termination occurs the
mem*er *ro(er shall not *e re>uired to issue any notice to the clients or assi&n
any reasons thereafter'
G' The mem*er *ro(er shall issue contract notes in terms of the -B)
9-toc( Bro(ers and -u* Bro(ers< Rules and re&ulations. ?33/ %ithin t%enty four
hours of the e8ecution of the trade' -uch contract note shall *e dispatched *y
the mem*er *ro(er *y courier or throu&h any other mode specified in the terms
and conditions mentioned on the %e*site. at the address mentioned in this
a&reement or at any other address e8pressly informed to the mem*er *ro(er *y
the clients'
4' The clients a&ree that all the transactions e8ecuted pursuant to an
order placed on the %e*site shall *e su*+ect to the rules of the clearin& house of
the e8chan&e and that all trades shall *e settled throu&h such clearin& house'
0' The clients a&ree to *e *ound *y the &uidelines. includin& the rules
pertainin& to the ad+ustment of shorta&es in clients positions in securities
transacted on *ehalf of such clients. or any other person *y the mem*er *ro(er.
37
%ither throu&h orders placed throu&h the use of the "nline Tradin& services of
the mem*er *ro(er or other%ise as may *e issued *y the mem*er *ro(er from
time to time'
:1/ #OD)-)CA*)O"S
?' All modifications to this A&reement shall *e made solely at the
discretion of the mem*er *ro(er and shall *e intimated to the clients *y a
suita*le modification to the terms and conditions or other applica*le section on
the %e*site'
/' The client a&rees that a modification to the information in the terms
and conditions section on the %e*site or any other applica*le section and a
display of the modification for the duration of the applica*ility of such
modification to the circumstances of the clients. shall *e sufficient notice to the
!lients. to ta(e note of such modification'
:11 ASS)!"#,"*S
The client a&rees that Karvy stoc( *ro(in& 7imited may at any time durin& the
su*sistence of the presents %ithout re>uirement of issuin& any notice to the
clients. assi&n. transfer or other%ise alienate. *y e8ecutin& an a&reement or in
any other manner. all or any of their ri&hts and Por o*li&ations in terms of this
a&reement to any person or entity includin& *ut not limited to their affiliates.
associates or sister companies'
; *,R#S O- CO"S)D,RA*)O"
;1 CO##)SS)O"S A"D BRO2,RA!,
All commissions and char&es levia*le on transactions in securities pursuant to
orders placed on the %e*site shall *e paya*le at rates mentioned on the %e*site
and as may *e modified from time to time'
;. +S,R -,,S
The clients a&ree that the mem*er *ro(er may char&e ;ser Fees for the use of
any other service includin& *ut not restricted to the "nline Tradin& -ervices. at a
rate mentioned on the %e*site and as may *e modified from time to time'
;$ D,POS)*OR( C?AR!,S
The clients a&ree that the mem*er *ro(er may de*it the demat account char&es
paya*le to the depository participant to the tradin& account of the clients
maintained %ith the mem*er *ro(er'
38
;9 O*?,R C?AR!,S
The mem*er *ro(er may char&e any other relevant char&e in the manner
intimated on the %e*site from time to time includin& *ut not limited to Trade
!ommission. -ervice Ta8. Turnover !har&es. Ta8 8penses incurred. -tamp
Duty. Mar&ins etc' as applica*le'
< )"D,#")*(
0'? The mem*er *ro(er shall *e indemnified *y the client in case of any
action initiated a&ainst the mem*er *ro(er *y the party not privy to this contract.
and it shall *e the duty of the client to *ear out of their funds. all costs. losses
and e8penses %hich any such mem*er *ro(er may incur or may *ecome lia*le
to pay. *y reason of any event in the course of the use of the said services *y
the client'
0'/ )n the event of death or insolvency of the client or his other%ise
*ecomin& incapa*le of receivin& and payin& for or deliverin& or transferrin&
securities %hich the client has ordered to *e *ou&ht or sold. the mem*er *ro(er
may close out the transaction of the client and the client or his le&al
representative shall *e lia*le for any losses. costs and *e entitled to any surplus
%hich may result therefrom'
0 -ORC, #AL,+R,
The mem*er *ro(er shall not *e responsi*le for delay or default in the
performance of their o*li&ations due to contin&encies *eyond their control. such
as fire. flood. civil commotion. earth>ua(e. %ar. stri(es. failure of the system.
failure of )nternet lin(s or &overnmentPre&ulatory actions'
J *,R# A"D *,R#)"A*)O"
3'? Both parties shall *e entitled to terminate this a&reement at
%ill and %ithout &ivin& any reasons to the other party *ut not %ithout &ivin& a
notice in %ritin& of not less than one month that shall *e despatched to the
addresses mentioned in this a&reement' Ho%ever. such cancellation or
termination shall not have any effect on any transaction9s< e8ecuted prior to the
date of such notice of termination and the ri&hts and o*li&ations in respect of
such transactions shall continue to su*sist in terms of this a&reement. andPor the
terms and conditions as may *e prescri*ed'
3'/ This A&reement shall *ecome effective on the date first
%ritten a*ove. su*+ect to !lause F a*ove. and shall remain in full force until and
unless terminated'
3'H )n the event of any $overnmental action or action from any
re&ulatory authorities de*arrin& the mem*er *ro(er from carryin& on *usiness or
39
renderin& it impossi*le to transact the *usiness of *ro(in& or online tradin&. this
a&reement shall stand terminated'
3'@ The ri&hts and o*li&ations of the #arties under this
A&reement %hich *y their nature survive the termination of this A&reement shall
not *e e8tin&uished *y the termination of this A&reement'
1/ ARB)*RA*)O"
?2'? )f any dispute arises *et%een the #arties hereto durin& the su*sistence of
this A&reement of thereafter. in connection %ith or related to the validity.
interpretation. implementation or alle&ed *reach of any provision of this
A&reement. the dispute shall. as far as possi*le *e settled %ith the help of the
officials of the e8chan&e and if no such settlement is possi*le the parties here*y
a&ree to refer such dispute to ar*itration in accordance %ith the rules. *ye1la%s
and re&ulations of the said stoc( e8chan&e' The mem*er *ro(er and client
here*y a&ree that they shall co1operate %ith the e8chan&e officials and provide
all relevant documents in their possession so as to e8pedite the settlement
throu&h the ar*itration process'
?2'/ The mem*er *ro(er and the client here*y a&ree that they %ill assist and
co1operate %ith each other in ensurin& faster settlement of any ar*itration
proceedin&s arisin& out of the present a&reement or from the provision of the
online tradin& services *y the mem*er *ro(er and %ill accept ar*itration a%ards
in respect thereof'
11 APP5)CAB)5)*( O- 5A>
The provisions of this a&reement shall al%ays *e su*+ect to $overnment
notifications. any rules. re&ulations and &uidelines issued *y -B) and the -toc(
8chan&e rules. re&ulations and Bye1la%s that may *e in force from time to time'
1. L+R)SD)C*)O"
All trades. transactions and contracts are su*+ect to the rules and re&ulations of
the e8chan&e and depository and shall *e deemed to *e and shall ta(e effect as
%holly made. entered into and *e performed in the city of Hydera*ad and the
parties to such trade shall *e deemed to have su*mitted to the +urisdiction of the
!ourts in Hydera*ad for the purpose of &ivin& effect to the provisions of the
Rules and re&ulations of the e8chan&e and the *ye1la%s and *usiness rules of
the depository'
!lient
JRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
9First Holder 5ame<
-i&nature J
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40
6itness
By
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Bro(er J KARBC -T"!K BR"K)5$ 7)M)TD'
By J
-i&nature J
Title J D)R!T"RCPA;TH"R)-D -)$5AT"RC
6itness J
PRO-)5, O- BRO2)"! ?O+S, )" *?, S*OC2 #AR2,*
41
+S The Karvy &roup %as formed in ?3FH at Hydera*ad. )ndia' Karvy ran(s
amon& the top player in almost all the fields it operates' Karvy !omputershare
7imited is )ndia=s lar&est Re&istrar and Transfer A&ent %ith a client *ase of
nearly G22 *lue chip corporate. mana&in& over / crore accounts' Karvy -toc(
Bro(ers 7imited. mem*er of 5ational -toc( 8chan&e of )ndia and the Bom*ay
-toc( 8chan&e. ran(s amon& the top G stoc( *ro(ers in )ndia' 6ith over
4.22.222 active accounts. it ran(s amon& the top G Depositary #articipant in
)ndia. re&istered %ith 5-D7 and !D-7' Karvy !omtrade. Mem*er of 5!DS
and M!S ran(s amon& the top H commodity *ro(ers in the country' Karvy
)nsurance Bro(ers is re&istered as a Bro(er %ith )RDA and ran(s amon& the top
G insurance a&ent in the country' Re&istered %ith AMF) as a corporate A&ent.
Karvy is also amon& the top Mutual Fund mo*ili,er %ith over Rs' G.222 crores
under mana&ement' Karvy Realty -ervices. %hich started in /224. has >uic(ly
esta*lished itself as a *ro(er %ho adds value. in the realty sector' Karvy $lo*al
offers niche off shorin& services to clients in the ;-'
Karvy has G0G offices over H0G locations across )ndia and overseas at Du*ai
and 5e% Cor(' "ver 3.222 hi&hly >ualified people staff Karvy'
#,A"S O- -)"A"C)"!
Financin& a company throu&h the sale of stoc( in a company is
(no%n as e>uity financin&' Alternatively. de*t financin& 9for e8ample issuin&
*onds< can *e done to avoid &ivin& up shares of o%nership of the company'
;nofficial financin& (no%n as trade financin& usually provides the ma+or part of a
companyLs %or(in& capital 9day1to1day operational needs<' Trade financin& is
provided *y vendors and suppliers %ho sell their products to the company at
short1term. unsecured credit terms. usually H2 days' >uity and de*t financin&
are usually used for lon&er1term investment pro+ects such as investments in a
ne% factory or a ne% forei&n mar(et' !ustomer provided financin& e8ists %hen a
customer pays for services *efore they are delivered. e'&' su*scriptions and
insurance
#AR2,* S?AR, A"A5(S)S
42
-ecurity
Bond
-toc(
!ommon stoc(s
#referred stoc(s
-hare
Mutual funds
#ar value v s' Mar(et value
Bullish v s' Bearish
O*?,R B,",-)*S O- )"',S*)"! )" S?AR,S@
Because they can ma(e *i& money on it' !ompared to your investments in
fi8ed deposits in *an(s it ma(es more profits. *ut the *ad ne%s is that you are
also e8pected to *ear the losses. if any'
?< #ossi*ility of hi&h returns
/< asy li>uidity
H< ;n*eata*le ta8 *enefits
@< )ncome from dividends
SO ?O> DO,S O", B+( S?AR,S@
There are *asically t%o %ays in %hich you can invest in sharesJ
#urchase shares from the primary mar(et 9i'e' )#"Ls<
Trade in the -econdary Mar(et. i'e' -toc( e8chan&es
>?O S,5,C*S *?,S, S*OC2S@
They are selected *y the )nde8 committee'
43
-ome of the criteria they follo% includeJ
?< Mar(et capitali,ation'
/< 7i>uidity'
H< !ontinuity'
@< )ndustry representation'
G< 7isted history
CO#P+*A*)O" O- S*OC2 )"D,7:
A stoc( mar(et may either *e a price inde8 or a %ealth inde8' )n )ndia
most of the indices are usin& %ealth inde8 for computation of stoc( mar(et'
!ompany 5o' of
shares
Mar(et #rice
on
23P2/P24
Mar(et cap
9Rs'<
Mar(et #rice
on
?FP2/P24
Mar(et cap
9Rs'<
TATA ?2 /2P1 /22P1 H2P1 H22P1
)5F"-C- /2 H2P1 422P1 @2P1 F22P1
)BM /2 ?22P1 /222P1 ?G2P1 H222P1
T"TA7
MARKT !A#
/F22P1 @?22P1
Face valueTRs'?2P1
Base valueT?22P1
)nde8 present valueT9?22U@?22<P/F22T ?@4'@/F
44
O*?,R #AR2,* R+"",RS :-
2O*A2 S,C+R)*),S:
Kota( securities ltd is )ndia leadin& stoc( *ro(in& house %ith a mar(et share of
close to 3A as on H? march /220' (ota( securities ltd has *een the lar&est in
)#" distri*ution'
The company has a full fled&ed research division involved in macro economic
studies sect oral research and company specific e>uity research com*ined %ith
a stron& and %ell net%or(ed sales force %hich helps deliver current and up to
date mar(et information and ne%s
Kota( securities ltd is also a depository participant %ith national securities
depository limited and central depository service limited 'providin& dual *enefits
services %here in the investor can use the *ro(era&e services of the company
for e8ecutin& the transactions and the depository service for settlin& them'
Kota( securities have F?H outlets servicin& more than H?G222 customers and a
covera&e of /00 cities' Kota( securities com the online division of (ota(
securities limited offers internet *ro(in& services and also online )#" and mutual
fund investment

A Kota( security limited mana&es assets around /H22 crores of assets under
mana&ement' The portfolio mana&ement service provides top class service
caterin& to the hi&h end of the mar(et' #ortfolio mana&ement from (ota(
securities comes as an ans%er to those %ho %ould li(e to &ro% from
e8ponentially on the crest of the stoc( mar(et. %ith the *ac(in& of an e8pert'
45
-hare(han. the retail *ro(in& arm of --K) &roup and one of the lar&est stoc(
*ro(in& house in the country has %on the presti&ious a%aa, consumer vote
a%ards /22G for the most preferred stoc( *ro(in& *rand in )ndia. in the
investment advisors cate&ory
-hare (han e>uity related services include trade e8ecution on B-.5-
derivatives commodities depository services online tradin& and investment
advice .'share(han online tradin& and investment site %%%'share(han'com %as
launched in /222 ' -hare(han Ba& round net%or( includes over /G2 centers
across ?/H cities in )ndia and havin& around ?/2222 customers and e>ual
num*er of demat customers'
-hare(han %on the a%ard *y vote of customer around the country. as part of
)ndia lar&est consumer study cover 0222 respondents /? product and service
across /? ma+or cities' the study initiated *y a%aa, )ndia first dedicated
consumer channel and mem*er of the %orld %ide !5B! net%or( and ac 5ielsen
or& mar& %as aimed at understandin& the *rand preference of the consumer
and to decipher %hat are the most important loyalty criteria for the consumer in
each vertical
)n order to select the a%ard recipient spontaneous responses rather than
prompted responses %ere &arnered %ith an intention to &lean un*iased
preferences'
The reason *ehind the preferences for *rands %ere unveiled *y e8amines the
follo%in&J
Tan&i*le features of product Pservice
-ofter. intan&i*le features li(e ima&ery. e>uity drivin& preference
Tactical measures such as promotional Ppricin& schemes
46
The )ndia )nfoline &roup. comprisin& the holdin& company. )ndia )nfoline 7imited
and its %holly1o%ned su*sidiaries. straddle the entire financial services space
%ith offerin&s ran&in& from >uity research. >uities and derivatives tradin&.
!ommodities tradin&. #ortfolio Mana&ement -ervices. Mutual Funds. 7ife
)nsurance. Fi8ed deposits. $o) *onds and other small savin&s instruments to
loan products and )nvestment *an(in&' )ndia )nfoline also o%ns and mana&es
the %e*sites httpJPP%%%'indiainfoline'comPand httpJPP%%%'Gpaisa'comP
The company has a net%or( of 0GF *usiness locations 9*ranches and su*1
*ro(ers< spread across H@4 cities and to%ns' )t has more than F22.222
customers
)ndia )nfoline 7imited is listed on *oth the leadin& stoc( e8chan&es in )ndia. vi,'
the -toc( 8chan&e. Mum*ai 9B-< and the 5ational -toc( 8chan&e 95-<
and is also a mem*er of *oth the e8chan&es' )t is en&a&ed in the *usinesses of
>uities *ro(in&. 6ealth Advisory -ervices and #ortfolio Mana&ement -ervices'
)t offers *ro(in& services in the !ash and Derivatives se&ments of the 5- as
%ell as the !ash se&ment of the B-' )t is re&istered %ith 5-D7 as %ell as
!D-7 as a depository participant. providin& a one1stop solution for clients
tradin& in the e>uities mar(et' )t has recently launched its )nvestment *an(in&
and )nstitutional Bro(in& *usiness'

Bonan,a is a leadin& Financial -ervices & Bro(era&e House %ith ac(no%led&ed
industry 7eadership in e8ecution and clearin& services on 8chan&e Traded
Derivatives and cash mar(et products'
Key elements that place Bonan,a amon&st the leadin& Bro(era&e Houses and
ma(e it the preferred service provider for value *ased financial services areJ
47
A !lient1driven foundation and strate&y committed to client1specific
investment needs and o*+ectives'
)nte&rated and innovative use of Technolo&y ena*lin& clients to trade
offline. online and -trate&ic tie1ups %ith latest technolo&y partners to facilitate
tradin& access and direct processin& across more than 322 Branches spread
over H?2 cities '
!lient1focused philosophy *ac(ed *y mem*erships of all principal )ndian
-toc( and !ommodity 8chan&es ma(es Bonan,a a preferred service provider
in the )ndustry for value *ased services'
m(ay offers futures tradin& throu&h M,m4ay Corporate Ser3ice8 %P& 5tdM'
6e have mem*ership %ith t%o of the ma+or !ommodity e8chan&es of the
country'
Multi !ommodity 8chan&e of )ndia 7td. Mum*ai 9M!S<
5ational !ommodity and Derivative 8chan&e. Mum*ai 95!DS<
7ar&e num*ers across the country participate in the futures mar(et throu&h
m(ayLs rapidly e8pandin& online tradin& terminal net%or( e8tendin& to even
remote areas' 7ocal. national and international a&ri1information is disseminated
throu&h the companyLs lar&e *ranch net%or(' -eminars. free in house literature
and interactive site sessions raise a%areness levels on the futures mar(et'
!onse>uently. lar&e num*ers of informed participants enter the tradin& process
resultin& in increased volumes and mar(et efficiency'
Motilal "s%al -ecurities 7td' %as founded in ?3F0 as a small su*1*ro(in& unit.
%ith +ust t%o people runnin& the sho%' Focus on customer1first1attitude. ethical
and transparent *usiness practices. respect for professionalism. research1*ased
value investin& and implementation of cuttin&1ed&e technolo&y has ena*led us
48
to *lossom into an almost /222 mem*er team'
Today they are a %ell diversified financial services firm offerin& a ran&e of
financial products and services such as

6ealth Mana&ement
Bro(in& & Distri*ution
!ommodity Bro(in&
#ortfolio Mana&ement -ervices
)nstitutional >uities
#rivate >uity
)nvestment Ban(in& -ervices and
#rincipal -trate&ies
They have a diversified client *ase that includes retail customers 9includin& Hi&h
5et %orth )ndividuals<. mutual funds. forei&n institutional investors. financial
institutions and corporate clients' They are head>uartered in Mum*ai and as of
:une H2. /22F. had a net%or( spread over @G2 cities and to%ns comprisin&
?.@34 Business 7ocations operated *y their Business #artners and them' As at
:une H2. /22F. they had @F4.4@F re&istered customers'
Reli&are nterprises 7imited 9R7<. is one of the leadin& inte&rated financial
services &roups of )ndia' R7=s *usinesses are *roadly clu**ed across three
(ey verticals. the Retail. )nstitutional and 6ealth spectrums. caterin& to a diverse
and %ide *ase of clients'
R7 offers a multitude of investment options and a diverse *ou>uet of financial
services and has a pan )ndia reach in more than ?GG2 locations across more
than @42 cities and to%ns'
As part of its recent initiatives. the &roup has also started e8pandin& &lo*ally and
has ac>uired 7ondon=s oldest *ro(era&e & investment firm. Hichens. Harrison &
49
!o' plc' Follo%in& this ac>uisition Reli&are no% proposes to operate out of ?2
countries' 6ith a vie% to e8pand. diversify and introduce offerin&s *enchmar(ed
a&ainst &lo*al *est practices. Reli&are has entered into +oint ventures %ith the
&lo*al ma+or1 Ae&on for its Asset Mana&ement and 7ife )nsurance *usinesses in
)ndia'
Reli&are=s %ealth mana&ement su*sidiary is no% rechristened as Reli&are
Mac>uarie 6ealth Mana&ement 7imited. follo%in& a +oint venture %ith the
Australia *ased financial services ma+or. Mac>uarie Ban(' Reli&are has also
partnered %ith Bistaar ntertainment to launch )ndia=s first Film Fund'
The vision is to *uild Reli&are as a &lo*ally trusted *rand in the financial services
domain and present it as the E)nvestment $ate%ay of )ndia=' All employees of the
&roup &uided *y an e8perienced and professional mana&ement team are
committed to providin& financial care. *ac(ed *y the core values of dili&ence and
transparency'
ABO+* )"D)AB+55S
)ndia*ulls is )ndia=s leadin& Financial -ervices and Real state company havin&
over 4@2 *ranches all over )ndia' )ndia*ulls serves the financial needs of more
than @.G2.222 customers %ith its %ide ran&e of financial services and products
from securities. derivatives tradin&. depositary services. research & advisory
services. consumer secured & unsecured credit. loan a&ainst shares and
mort&a&e & housin& finance' 6ith around @222 Relationship Mana&ers.
)ndia*ulls helps its clients to satisfy their customi,ed financial &oals' )ndia*ulls
throu&h its &roup companies has entered )ndian Real state *usiness in /22G' )t
is currently evaluatin& several lar&e1scale pro+ects %orth several hundred million
dollars'
)ndia*ulls Financial -ervices 7td is listed on the 5ational -toc( 8chan&e.
Bom*ay -toc( 8chan&e and 7u8em*our& -toc( 8chan&e' The mar(et
capitali,ation of )ndia*ulls is around ;-D 4.H22 million 9H?st Decem*er. /220<'
!onsolidated net %orth of the &roup is around ;-D 32G million 9H?st Decem*er.
/220<' )ndia*ulls and its &roup companies have attracted more than ;-D F22
million of e>uity capital in Forei&n Direct )nvestment 9FD)< since March /222'
-ome of the lar&e shareholders of )ndia*ulls are the lar&est financial institutions
of the %orld such as Fidelity Funds. $oldman -achs. Merrill 7ynch. Mor&an
-tanley and Farallon !apital'
50
Business of the company has &ro%n in leaps and *ounds since its inception'
Revenue of the company &re% at a !A$R of ?G3A from FC2H to FC20' Durin&
the same period. profits of the company &re% at a !A$R of ?F@A'
)ndia*ulls *ecame the first company to *rin& FD) in )ndian Real state throu&h a
:B %ith Farallon !apital Mana&ement 77!. a respected ;- *ased investment
firm' )ndia*ulls has demonstrated deep understandin& and commitment to )ndian
Real state mar(et *y %innin& competitive *ids for landmar( properties in
Mum*ai and Delhi'
)ndia*ulls Financial -ervices 7td
AnandRathi is a leadin& full service securities firm providin& the entire &amut of
financial services' The firm. founded in ?33@ *y Mr' AnandRathi. today has a
pan )ndia presence as %ell as an international presence throu&h offices in Du*ai
and Ban&(o(' AR provides a *readth of financial and advisory services includin&
%ealth mana&ement. investment *an(in&. corporate advisory. *ro(era&e &
distri*ution of e>uities. commodities. mutual funds and insurance. structured
products 1 all of %hich are supported *y po%erful research teams'
The firmLs philosophy is entirely client centric. %ith a clear focus on providin&
lon& term value addition to clients. %hile maintainin& the hi&hest standards of
e8cellence. ethics and professionalism' The entire firm activities are divided
across distinct client &roupsJ )ndividuals. #rivate !lients. !orporate and
)nstitutions and %as recently ran(ed *y Asia Money /224 poll amon&st -outh
AsiaLs top G %ealth mana&ers for the ultra1rich'
)n year /220 !iti&roup Benture !apital )nternational +oined the &roup as a
financial partner
51
The Hem $roup is one of the
lar&est *ro(in& net%or( in india' )t provides tradin& platform in all the leadin&
e8chan&es namely O B-. 5-. M!S & 5!DS'
!RO+P CO#PA"),S
?,# S,C+R)*),S 5*D 1 MMBR 9B-.!D-7< & !AT$"RC ?
MR!HA5T BA5KR
?,# -)"5,AS, P'* 5*D 1 MMBR 95-<
?,# #+5*)CO##OD)*),S P'* 5*D 1 MMBR 9M!S. 5!DS<
?,# -)"A"C)A5 S,R')C,S 5*D 1 5BF! R$)-TRD 6)TH RB)
RAL#A5A -)"5,AS, P'* 5*D 1 MMBR 9B-<
Achie3ing eEcellence through 8uperior 8er3ice8
More than /F years of rich e8perience
"ne of the lar&est *ro(in& net%or( in the country coverin& ?4 states %ith more
than H/G outlets
More than /F years of rich e8perience
"ne of the lar&est *ro(in& net%or( in the country coverin& ?4 states %ith more
than H/G outlets
7eadin& )#" and MF Distri*utor #an1)ndia
"ne of the Bi&&est Depository #articipant %ith !D-7
Dedicated )n1house Research Department
Ro*ust & Hi1tech Tradin& #latform
thical & Transparent Business #ractices
Featured in )ndia=s 7eadin& >uity Bro(in& Houses /22F *y Dun & Bradstreet
At Hem. %hat clients find *est and advanta&eous is its %arehouse of (no%led&e
and research in e>uities and commodities. %hich of course adds to their amours
in ma(in& investment decisions'
Real stren&th of HM has *een the faith and confidence of its clients in its
or&ani,ational commitment and performance'
This faith and confidence. of numerous investors have *een &ained throu&h
transparent & hi&hly relia*le financial services over the last /0 years period'
52
Apart from faith and confidence of clients. its o%n sound net1%orth has *een the
other important *usiness assets at the ?,# !RO+P
The An&el $roup of !ompanies %as *rou&ht to life *y Mr' Dinesh Tha((ar' He
ventured into stoc( tradin& %ith an intention to raise capital for his o%n
independent enterprise' Ho%ever. he reco&nised the opportunity offered *y the
stoc( mar(et to serve individual investors' Thus )ndia=s first retail1focused stoc(1
*ro(in& house %as esta*lished in ?3F0' ;nder his leadership. An&el *ecame the
first *ro(in& house to em*race ne% technolo&y for faster. more effective and
afforda*le services to retail investors'
Mr' Tha((ar is valued for his understandin& of the economy and the stoc(1
mar(et' The print and electronic media often see( his vie%s on the mar(et trend
as %ell as investment strate&ies'
An&el Bro(in&Ls tryst %ith e8cellence in customer relations *e&an in ?3F0'
Today. An&el has emer&ed as one of the most respected -toc(1Bro(in& and
6ealth Mana&ement !ompanies in )ndia' 6ith its uni>ue retail1focused stoc(
tradin& *usiness model. An&el is committed to providin& EReal Balue for Money=
to all its clients'
The An&el $roup is a mem*er of the Bom*ay -toc( 8chan&e 9B-<. 5ational
-toc( 8chan&e 95-< and the t%o leadin& !ommodity 8chan&es in the
countryJ 5!DS & M!S' An&el is also re&istered as a Depository #articipant
%ith !D-7'
53
)ntroduction of OrganiFation
About 2ar3y -ortune:-
Karvy Fortune a *usiness opportunity for individuals in
similar *usiness from Karvy. it &ives the opportunity to associate %ith Karvy
Family as Franchisee. Remisser. or as an )ndependent Financial Advisors'
Karvy ran(s amon& G stoc( *ro(ers and Depositary
#articipants in )ndia. %ith the enormous net %or( of over G22V *ranches in H0G
locations across )ndia and overseas at Du*ai. e8ecutes ?G2.222V trades in
5-PB- per day' Karvy has a top notch research team. advisory team.
technolo&y support team to serve it=s customers in /@P0 manner

Associate %ith Karvy Fortune. a correlate opportunity
from )ndia=s foremost financial services provider. Karvy -toc( Bro(in& 7td' )t
offers complete Karvy=s spectrum of financial products' Karvy fortune &ives the
opportunity to associate %ith Karvy Family as Franchisee. Remisser or as an
)ndependent Financial Advisors please enroll your details'
Remi88er of 2ar3y 8toc4 Bro4ing 5td
Karvy is an esta*lished stoc( *ro(in& firm %ith a stron& customer *ase all over
)ndia. Karvy %ould li(e to reach out to more investors across the country.
*uildin& a &ood distri*ution channel throu&h Business #artnerPAssociates
6ho is Business #artnerPAssociateD
Karvy is loo(in& for li(e1minded people %ho %ish to serve the customers %ith
utmost relia*ility and fervor' As a Business Associate of Karvy. you %ill actively
promote and mar(et our services and products and (eep our customers updated
of the forthcomin& ne% products and schemes' Karvy offers you to +oin our
family as FranchiseePBusiness partners. Remisser or as an )ndependent
Financial Advisor'
Karvy is associated %ith &amut of financial services and products' As %e offer
one stop investment solution. customers %ill have the option of decidin& the ri&ht
investment products of their choice'
54
2AR'( -RA"C?)S,, P5A"S :
B+S)",SS ASSOC)A*,S
Re3enue Sharing Structure:
,ligibility Criteria to enter into a Relation8hip a8 a Bu8ine88
A88ociate:
1' An individualP companyP partnership firm %ith &ood trac( record & reputation
in financial servicesPother *usinessPsocial circles %ith a &ood client *ase'
.' -u*1*ro(er re&istration in -B)P8chan&es throu&h K-B7 is compulsory %ith
out %hich the remittance of accrued *ro(era&e to franchisee %ill *e (ept on hold
till re&istration is complete
$' !apacity to invest in settin& up & maintainin& the infrastructure & manpo%er
re>uired for carryin& on the *usiness as specified *elo% at their o%n e8pense'
a "%n or leased premises %ith re>uisite po%er supply and support
facilities
includin& 7A5 duly approved *y K-B7 in %ritin&M
b )nterior %or(. furniture and 5ame Board conformin& to the desi&n.
colours and
standards approved *y K-B7
c' !onnectivity and communication facilities includin& leased line. )-D5
line.
telephone line etc duly approved *y K-B7'
d )n case the connectivity is throu&h B-AT. the full cost of the B-AT
includin&
settin& up costs'
e 7e&ally licensed operatin& system. data*ase and other soft%are
includin& *ac(
office soft%are re>uired for the operations at franchisee=s premisesM
f Any other e>uipment or installations necessary for carryin& on the
*usiness
%ithout interruption'
9 The su*1*ro(erP employees of corporatePfirm should hold valid 5!FM
certificates for !ash. F&" and ensure that 5!FM certificate holder in person
has to sit on tradin& terminals in %hose name the terminal )D has *een
&enerated'
-i&nature of Mar(etin& Mana&er -i&nature of Business Associate
55
-ranchi8ee Pac4age Offered by 2AR'(
?' Product SupportJ Bro(in& throu&h B- 9!ash & F&"<. 5- 9!ash &
F&"< .D# services throu&h 5-D7. !D-7'
/' Sale8 SupportJ A Relationship Mana&er %ill *e assi&ned to you for re&ular
Research advice & Mar(et ;pdates throu&h !hatP#honePmailsP#ersonal
meetin&s'
H' Bu8ine88 De3elopment: #roduct research. mar(etin& & *usiness
development support on a re&ular *asis to encoura&e (no%led&e *ased sellin&'
@' Bac4 Office Support: !entrali,ed 6e* *ased *ac( office support throu&h a
dedicated !ustomer -ervice 8ecutive assi&ned to you for routine >ueries
throu&h !hat1#hone1 mails' All stationary items *ills. letter heads %ill *e
provided *y K-B7 and di&ital contract notes %ill *e delivered to the franchisee=s
id as per char&es applica*le'
G' Setup Support: )nitial $lo% si&n fle8 material & )nitial Bisitin& !ards %ill *e
provided *y K-B7 as per char&es applica*le'
Commercial *erm8 G Condition8:-
1 Refundable Depo8it8 for each outlet: *otal )"R $6 //6///K-
a' )5R H. 22.222P1 %ith K-B7 9>uities<

. Charge8 Detail8: 1 #er "utlet !onnectivity !har&es
T%o options for !onnectivityJ1
a ' SA*: - 'SA* One time Co8t: - R8 11////K-
%)ncluding Site 3i8it and )n8tallation&
#onthly Recurring Charge8 for Bac4 office and Bandwidth: - R8 <://K-
P#
OR
b Broadband: - On broadband the Connecti3ity and Bac4 office Charge8
will be R8 :/// per month for each outlet
$ Re3enue Sharing:
BRO2,RA!, S?AR)"! RA*)O %,=+)*(&
2SB5: 9/N
56
B+S)",SS PAR*",R: ;/N
9 #inimum Bro4erage to be charged to end client8:
Segment *ype Bro4erage Rate Applicable
!ash -e&ment 9B- & 5-< Tradin& 2'2@A "n Turnover
Derivative -e&ment 9 F&" & !ommodities< Tradin& 2'2@A "n Turnover
!ash -e&ment 9B- & 5-< Delivery 2'@2A
Other *erm8 G Condition8:
?' *aEe8: -ecurities Transaction Ta8 and other e8chan&e char&es & ta8es as
applica*le %ill *e levied'
. Payment *erm8:
a' #ayment delayed *y H days %ill *e char&ed W ?FA for *oth cash &
F&" se&ment' Ho%ever any further delay. the amount %ill *e de*ited
to -;BBR"KR'
*' The Bro(era&e accrued %ill *e returned to the -;BBR"KR on a
monthly *asis su*+ect to receipt of audit report'
c' The franchisee has to ensure that for payments. the su*1*ro(er code is
stamped prominently in the *o8 indicatin& -u*1*ro(er P -u*1a&ent
!odes on all application forms 9for MFP)#"< that are used *y them'
H' ,Eclu8i3ity: As a Business Associate of K-B7 you are re>uired to sell all the
products promoted *y the company %hich includes )#". MF. #M-. etc'
e8clusively for K-B7
'
@' Change in 8ub bro4erage: The a*ove rates of su*1*ro(era&e paya*le to the
su* *ro(er are su*+ect to modification from time to time to *e mutually a&reed
*et%een K-B7 and the franchisee'
G' Certification8: -u* *ro(er and hisPher employees have to clear 5!FM
e8amination 9!ash. AMF) & Derivatives< -i&nature of Mar(etin& Mana&er
-i&nature of Business Associate
57
R,#)SS,RS
,ligibility Criteria to enter into a Relation8hip a8 a
Bu8ine88
A88ociate %Remi88er&:
1' An individualP companyP partnership firm %ith &ood trac( record & reputation
in financial servicesPother *usinessPsocial circles %ith a &ood client *ase'
. -u*1*ro(er re&istration in -B)P8chan&es throu&h K-B7 is compulsory %ith
out %hich the remittance of accrued *ro(era&e to remisser %ill *e (ept on hold
till re&istration is complete'
$ The su*1*ro(erP employees of corporatePfirm should hold valid 5!FM
certificates for !ash. F&" and !ommodity se&ments and ensure that 5!FM
certificate holder in person has to sit on tradin& terminals in %hose name the
terminal )D has *een &enerated'
Bu8ine88 Partner Pac4age Offered by 2AR'(
?' Product SupportJ Bro(in& throu&h B- 9!ash & F&"<. 5- 9!ash & F&"<.
D# services throu&h 5-D7. !D-7'
/' Sale8 SupportJ A Relationship Mana&er %ill *e assi&ned to you for re&ular
Research advice & Mar(et ;pdates throu&h !hatP#honePmailsP#ersonal
meetin&s'
H' Bu8ine88 De3elopment: #roduct research. mar(etin& & *usiness
development support on a re&ular *asis to encoura&e (no%led&e *ased sellin&'
@' Bac4 Office Support: !entrali,ed 6e* *ased *ac( office support throu&h a
dedicated !ustomer -ervice 8ecutive assi&ned to you for routine >ueries
throu&h !hat1#hone1 mails' All stationary items *ills. letter heads %ill *e
provided *y K-B7 and di&ital contract notes %ill *e delivered to the remisser id
as per char&es applica*le'
G' Setup Support: )nitial $lo% si&n fle8 material & )nitial Bisitin& !ards %ill *e
provided *y
K-B7 as per char&es applica*le'
Commercial *erm8 G Condition8:-
58
1 Refundable Depo8it8 : *otal )"R :/6///K-
a' )5R G2.222P1 %ith K-B7 9>uities<
. Re3enue Sharing:
BRO2,RA!, S?AR)"! RA*)O %,=+)*(&
K-B7J 42A
B;-)5-- #ART5RJ @2A
$ #inimum Bro4erage to be charged to end client8:
Segment *ype Bro4erage Rate Applicable
!ash -e&ment 9B- & 5-< Tradin& 2'2@A "n Turnover
Derivative -e&ment 9 F&" & !ommodities< Tradin& 2'2@A "n Turnover
!ash -e&ment 9B- & 5-< Delivery 2'@2A
Other *erm8 G Condition8:
?' *aEe8: -ecurities Transaction Ta8 and other e8chan&e char&es & ta8es as
applica*le %ill *e leived'
. Payment *erm8:
a' #ayment delayed *y H days %ill *e char&ed W ?FA for *oth cash & F&"
se&ment' Ho%ever any further delay. the amount %ill *e de*ited to
-;BBR"KR
*' The Bro(era&e accrued %ill *e returned to the -;BBR"KR on a monthly
*asis su*+ect to receipt of audit report'
c' There %ill *e no sharin& of *ro(era&e in proprietorPpartnerPdirectors tradin&
account %ith Karvy'
H' ,Eclu8i3ity: As a Business Associate of K-B7 you are re>uired to sell all the
products
promoted *y the company %hich includes )#". MF. #M-. etc' e8clusively for
K-B7'
@' Change in 8ub bro4erage: The a*ove rates of su*1*ro(era&e paya*le to the
su* *ro(er re su*+ect to modification from time to time to *e mutually a&reed
*et%een K-B7 and the Remissers'
G' Certification8: -u* *ro(er and hisPher employees have to clear 5!FM
e8amination !ash & Derivatives

59
*)" O -C
,ligibility Criteria to enter into a Relation8hip a8 *)" -acilitation
Centre with 2ar3y Data #anagement Ser3ice8 5imited
?' An individualP companyP partnership firm %ith &ood trac( record & reputation
in financial servicesPother *usinessPsocial circles'
/' !apacity to invest in settin& up & maintainin& the infrastructure & manpo%er
re>uired for carryin& on the *usiness as specified *elo% at their o%n e8pense'
a "%n or leased premises %ith re>uisite po%er supply and support
facilities includin& 7A5 duly approved *y KDM-7 in %ritin&'
b )nterior %or(. furniture and 5ame Board conformin& to the desi&n.
colours and standards approved *y KDM-7
c !onnectivity and communication facilities includin& leased line. )-D5
line. telephone line etc duly approved *y KDM-7
d 7e&ally licensed operatin& system. data*ase and other soft%are
re>uired for the operations at second party=s premises'
f Any other e>uipment or installations necessary for carryin& on the
*usiness %ithout interruption'
Support gi3en by 2ar3y -ortune to 8etup *)"
-acilitation Centre
1' Product Support
.' Bac4 Office Support
$' Setup Support: )nitial $lo% si&n fle8 material & )nitial Bisitin& !ards %ill *e
provided *y KDM-7 as per char&es applica*le'
. Charge8 Detail8:-
A< "ne time re&istration cost )5R /.222P1 9)ndian Rupees T%o thousand only<
B< Monthly Recurrin& !har&es for Bac( office and Band%idthJ 1 Rs' G22P1 #'M'
!< For additional ;ser )D 9"ptional< Rs'G22P1 per )d Pper month
60
R,S,ARC? #,*?ODO5O!( A"D 5)#)*A*)O"
*itle of Study:-
Franchisee & Remiseship Development in Karvy
Duration of Project:-
/412G1/223 to 2@1201/223
Objecti3e of the re8earch project
To e8plore the franchisee of Karvy in Delhi re&ion
To comparatively learn the franchisee plans of Karvy'
To find out the stren&ths of the Franchisees plan'
To find out %ea(nesses of the Franchisees plan'
To entice the other mar(et e8istin& franchisee to select Karvy plan'
To ma(e the people move a%are a*out mar(et'
To su&&est the possi*le amendment to the plan of Karvy'
*ype of Re8earch Plan
R,S,ARC? D,S)!"
#ro*lem is comple8 and real in nature. lot of efforts have under&one for the
research *y meetin& various people and as(in& them a*out their e8perience
'various people have under&one hu&e losses in the stoc( mar(et lot of material
has *een collected from the internet'
61
The research methodolo&y consisted follo%in& stepsJ
1 D,-)")"! *?, OBL,C*)',S:
The aim of this pro+ect as has already *een mentioned %as to *uildin& ne%
*usiness associates and *rin&in& potenital customers and &ivin& &uidance to the
customers %ho are already *ein& %or(in& in the mar(et and moreover chec(in&
out the pro*lem 9if any< *ein& faced *y *usiness associates. For this our
research contains t%o parts1
a' To sale the products %e have to first &enerate data*ase on the *asis of
mar(etin& research'
*' Analysis of different schemes of share mar(et'
. D,',5OP)"! *?, R,S,ARC? P5A":
This step called for decision on the data sources. samplin& plan and contact
methods'
DA*A SO+RC,S
Data %as collected from primary and secondary data' The various sources areJ
i PR)#AR( DA*A
This type of data does not e8istM it is ori&inated *y primary sources li(e personal
interaction or field *ac( forms. >uestionnaires that act as tools for collectin&
data'
ii S,CO"DAR( DA*A
This type of data already e8ists. and used to &enerate information as re>uired'
6e collect the secondary data throu&h )nternet. *oo(s. +ournals and ma&a,ines
of the company. various company *roachers. tal(in& %ith people'
R,S,ARC? APPROAC?
62
The research approach adopted here %as the survey method' But other
approaches also used such as o*servation research'
$ CO55,C*)"! *?, )"-OR#A*)O"
6ith respect to primary and secondary data. the information is collected'
#rimary data tells us present scenario of financial mar(et' -econdary data
means that to &et the data from the internet. company ma&a,ines. tal(in& %ith
people and convince'
DA*A CO55,C*)O":
Base on the a*ove >uestionnaire data are collected *y survey methods'
1 SA#P5)"! #,*?OD:
The samplin& method. %hich is adopted. is Random -amplin&'
. DA*A A"A5(S)S:
The Analysis of survey has *een done on A *asis'
DA*A CO55,C*)O"
PR)#AR( DA*A
The primary data to *e selected %as *ased upon the response of the
respondents to the >uestionnaire desi&ned' The >uestionnaire desi&ned %as
&iven to us from our immediate *oss''' The >uestionnaire consists of closed
ended >uestions'
63
A part of Xuestionnaire %as tar&eted to (no% the personal details of the
respondents' Another part comprised of the self1desi&ned >uestionnaire and %ill
consist of closed ended >uestions %ith every >uestion havin& its o%n importance
and meanin&'
S,CO"DAR( DA*A
The secondary data %as collected *y referrin& throu&h %e* sites. and the final
data %as analy,ed systematically to achieve the desired result'
DA*A A"A5(S)S
For analy,in& the data o*tained after conductin& the survey. percenta&e method
%as used' All the vie%s and data o*tained %ere also interpreted as clearly as
possi*le'
S*+D(
The present investi&ation is a descriptive and mar(etin& type of study
underta(en to estimate the comparative study of share mar(et analysis' The
present study identifies vie%s of customers & analysis of share mar(et alon&
%ith the self1analysis'
SA#P5, S)P,
For the purpose of analysis a sample si,e of respondents %as selected' The
tar&et &roup of the respondent %as +o* holders and an earnin& person %hatever
hisPher a&e may *e' The sample si,e ta(en %as 42'
SA#P5)"! #,*?OD
The samplin& method chosen for the pro+ect %as Random -amplin&' This type
of samplin& is also (no%n as chance samplin& or pro*a*ility samplin& %here
each and every item in the population has an e>ual chance of inclusion in the
sample and each one of the possi*le samples' This procedure &ives each item
an e>ual pro*a*ility of *ein& selected'
64
CO#PARA*)', A"A5(S)S A"D )"*,RPR,*A*)O"S
A"A5(S)S O- #A5,S A"D -,#A5,S S+R',(,D:
BR),- A"A5(S)S
The dia&ram helped us in +ud&in& the num*er and percenta&e of males and
females after conductin& the surveyM it %as found that out of customers %ere
males and %as females' Thus. %e came to (no% that 0HA of the users %ere
males and the remainin& /0A %ere females'
0
10
20
30
40
50
60
70
80
1st Qtr
Male
Female
65
5)#)*A*)O" O- S*+D(
?' lot of efforts have *een under&one to improve the predication
techni>ues 'li(e earlier there %as only fundamental analysis *ein& used *ut no%
technical analysis has come into e8istence
/' "nce the people %ho are involved in it' They play it li(e &am*lin& and
they thin( that its same it is difficult to chan&e their mindset'
H' )t=s difficult to ma(e people a%are a*out the mar(et (no%led&e it is very
vast'
@' 7ast of technical thin& are involved in it difficult for everyone to &o throu&h
it'
66
CO"C5+S)O" :
-)"D)"!S :
"ur findin&s durin& the trainin& %ith Karvy -toc( Bro(in& 7imited. Delhi
!ompany=s #lan %as &ood on the follo%in& &roundJ
U Karvy is a top1ran(ed company listed %ith 5-D7 and !D-7. provide tradin&
throu&h *oth 5- & B-'
U Karvy is providin& soft%are to their prospective su* *ro(er and Remissers'
U !he>ue updatin& in ?G mins' And the credit limit up to ?2 times'
U $ood alternative plan 9Remissers< to &et a ne% connection %ith a reno%ned
company'
U Bunch of services li(eJ 1
?< #roduct support
/< Bac( "ffice support
H< -et ;p support
@< -ales support
G< Business Development
67
Recommendation and S+!!,S*)O"SJ
Thou&h the Karvy -toc( Bro(in& 7imited have a very &ood ascri*ed plan %ith
e8clusive *and of opportunities *ut as nothin& is free from the hurdles therefore
there are fe% shortcomin&s %hich ) felt ma(es Karvy fail to achieve its tar&et of
activatin& ne% Franchisee in the :aipur re&ion these pitfalls are as follo%s J1
?< The Bro(era&e char&es. @ paisa and @2 paisa for intraday and delivery
respectively. are >uiet hi&h'
/< The initial investment for the su* *ro(er ship 9@ la(hs< is also hi&h'
H< The percenta&e of sharin& of *ro(era&e %hich are
-u* *ro(er shipJ 42J@29su*J (ar<
Remissers J @2J429remJ (ar<
-hould *e ne&otia*le up to some e8tent' "ur su&&estion 9G2JG2< for Remissers
and 902JH2< for su* *ro(ers hip'
@< The tentative norm re&ardin& the location of the offices i'e' no other
Franchisee %ill *e their under the H (m area of already e8istin& Franchisee'
G<The *ound for the prospective client re&ardin& T)5 F! that is those %ho are
interested in ta(in& T)5 F! they must also ta(e the e>uity as %ell'


68
=+,S*)O"A)R,

Sub Bro4er
#ain Bro4er
Addre88
Contact "o ,-mail
?< -ince ho% lon& have you *een in stoc( industryD "ffice -paceYY
/< Tradin& facility to end1clientsJ on1line P "ff1line P Both
H< Do you re>uire *rand name to develop your *usinessD
Hi&hly a&reed PA&reed P5ot re>uired
@< 6hat are the products you can offer to clients'
>uity P !ommodity P MF P 7ife & 5on17ife )nsurance of all companies
G< 6hat -upport you re>uire from your *ro(er to promote the *usiness & %hat
are the (ey stren&ths of your *ro(erD
a< RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
RRRRRRRRR
*< RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
RRRRRRRRR
4< 6hat are the pro*lems you are facin& %ith present *ro(erD
a< RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
RRRRRRRRR
*< RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
RRRRRRRRR
69
0< Do you re>uire a re&ular & consistent source of ne% client ac>uisition & ne%
data*ase. %hich is the (ey of success of *ro(in& *usinessD
F< Do you thin( )#" & #A5 card processin& can *e a potential product for your
earnin& & ac>uirin& ne% data*aseD
3< Do you re>uire alternative & consistent earnin& source throu&h the channel
of T)51F! of )ncome ta8 Dept' of $ovt' of )ndiaD
?2< Do you %ant more details a*out T)5 Facilitation !enterD #A5. TA5 & 1
TD- #rocessin&<
C-P5"
Than( Cou
70
B)B5)O!RAP?(:-
>eb8ite8:
%%%'(arvy'com
%%%'indiacorporateadvisor'com
%%%'de%*1vc'com
%%%'amfiindia'com
%%%'themana&ementor'com
%%%'nsdl'co'in
%%%'%i(ipedia'com
%%%'share(han'com
%%%'reli&are'com
%%%'india*ulls'com
)ndiainfoline'com
Boo48 G new8paper:-
conomic times
Financial mana&ement 9(han and +ain<
!apital mar(et
71