Version 2.0
Last updated on August 31, 2024
Market Pulse Securities Private Limited is registered with Securities & Exchange Board of India ("SEBI") as Stock Broker with Registration No. INZ000300936 and a Trading and Self-clearing member of Capital Market and Futures and Options Segment at National Stock Exchange of India Limited (NSE) (Member code: 90253; CM code M70035) and Trading member of BSE Limited (BSE) (Membership number: 6845). The Company is a Depository Participant of Central Depositories Services (India) Limited (CDSL) (DP ID 12095300), registered with SEBI Registration Number IN-DP-686-2022. The registered office of the Company is 4th Floor, 9/10, Agnelo House, C.T.S NO F/186, S. V. Road, Khar West, Mumbai, Maharashtra - 400052.
Market Pulse Securities Private Limited (hereinafter referred as 'Market Pulse' or 'Company' or 'We' or 'Us'), operates the website https://www.punch.trade/ and provides its services through its Mobile Application called PUNCH, or such other medium or channel, that is used by the Company for provisioning of the Company's services (together called as the "Platform"). The Company through its Platform offers its Clients services of trading and settlement services in Cash and Futures and Options segments over the National Stock Exchange of India Limited and BSE Ltd, and the Depository Services through Central Depository Services (India) Limited.
These Terms and Conditions are published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and user agreement for access or usage of the intermediary's computer resource by any person.
In terms of Information Technology Act, 2000, this document is an electronic record, being generated by a computer system and it does not require any physical or digital signature. Your acceptance to the terms and conditions as laid down hereunder shall be considered as Your consent to use the Mobile Application, Platform, the services and products (collectively referred to herein as "Services") provided by the Company in accordance with the terms and conditions laid down by Us.
The Company retains an unconditional right to modify or amend the Terms & Conditions without any requirement to notify You of the same. It shall be Your responsibility to check these Terms & Conditions periodically for changes. Your acceptance of the amended Terms & Conditions shall signify Your consent to the changes and the agreement to be legally bound by the same.
The words, "him", "his", "You", "Your", "Client", "User" and "Investor" refer to the person(s) who use and avail the Services and Products offered on the Platform and shall include both singular and plural forms. The Services provided herein is only for Indian citizens and tax resident of India.
These terms shall constitute a binding contract between the Company and You when You download or use the Services on the Platform, or use its Services on any other platform managed by the Company, and shall be referred to herein as the "Agreement". Downloading and installing any of the Mobile Applications, or using its services shall be deemed to constitute sufficient proof that you have read, understood and accepted these terms.
These Terms and Conditions contain important information regarding the Services that We will provide to you, and for your own protection you should read them carefully before accepting them. If you do not agree to these terms, you must not proceed to use the Platform, or the Services provided on the Platform.
By accepting the Terms and Conditions, You hereby represent that:
Subject to compliance with the Terms & Conditions, the Company hereby grants You a non-exclusive and limited privilege to access and use the Platform. You agree to use the Platform only: (a) for purposes that are permitted by the Terms & Conditions; and (b) in accordance with any applicable law, regulation or generally accepted practices or guidelines.
You agree that You shall not copy, reproduce, sell, redistribute, publish, enter into a database, display, perform, modify, alter, transmit, license, create derivatives from, transfer or in any way exploit any part of any information, content, materials, services available from or through the Platform, except that You may download the Platform for Your own personal, internal and non-commercial use.
Before availing of Platform services, the Client shall complete the registration process as may be prescribed from time to time. The Client shall follow the instruction given on the Platform for registering himself/herself as a client.
The Client agrees that all investment and disinvestment decisions are based on the Client's own evaluation of financial circumstances and investment objectives. This extends to any decisions made by the Client on the basis of any information that may be made available on the Platform. The Client will not hold, nor seek to hold the Company or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates liable for any trading losses, cost of damage incurred by the Client consequent upon relying on investment information, research opinions or advice or any other material/information whatsoever on the Platform.
Online account opening using AADHAAR is currently available only for individual residents of India (HUFs, corporate bodies, NRIs, etc., not eligible).
When opening an account online using AADHAAR, data will be fetched from the KYC database, and cannot be edited.
The Client will be provided with a username and an option to set the password, which will enable him to avail of the trading facilities offered by the Company on its Platform. All terms regarding the use, reset and modification of such password shall be governed by information on the Platform.
Each Client's account on PUNCH has a Two-Factor Authentication (2FA) system in place for a secure login experience. A biometric authentication shall be deployed as one of the authentication factors, along with any one of the below-mentioned factors:
However, in case where biometric authentication is not possible, both the aforementioned factors (Knowledge factor and Possession factor) shall be implemented, in addition to the user ID, for 2-factor authentication (2FA).
The 2FA credentials are privileged information, and must be kept in high secrecy by each client and not shared with anybody else. This 2FA mechanism is set in place as per SEBI, Exchange and Depository guidelines with respect to Internet Based Trading Rules.
The Client acknowledges that he is fully aware of and understands the risks associated with availing online trading services through internet, including the risk of misuse and unauthorised use of his Username and/or Password by a third party. The Client agrees that he shall be fully liable and responsible for keeping the Username and Password confidential and secure, and for any and all unauthorised use and misuse of his Password and/or Username.
All orders for purchase, sale or other dealings in securities and other instructions routed through the Platform via the Client's Username shall be deemed to have been given by the Client.
The Company is currently providing trading facility to its Clients only through its Mobile application i.e. Punch. In case of any system failure, the Clients would be given an option to execute their trades by getting in touch with the Support Team on 022-489-32192.
The orders and instructions and all contracts and transactions entered into pursuant thereto and the settlement thereof will be in accordance with the SEBI, Exchange and Depository Provisions.
The Company may from time to time impose and vary limits on the orders which the Client can place through the Platform (including exposure limits, turnover limits, limits as to the number, value and/or kind of securities, etc.).
The Client agrees that all orders placed through the Platform shall be forwarded by the system to the Exchange. All orders placed otherwise than through the Platform shall be forwarded by the system to Exchange terminals or any other order execution mechanism at the discretion of the Company.
Online confirmation will be sent to the Client by notification on the Mobile App/ Whatsapp message/electronic mail after the execution of the order, trade and this shall be deemed to be valid delivery thereof by the Company.
The Client shall bring any errors in any report, confirmation or contract note of executed trades to the Company's notice in writing by an electronic mail within twenty-four hours of receipt of the concerned report, confirmation or contract note.
The contract notes shall be issued to the clients in terms of the SEBI (Brokers and Sub-Brokers) Rules and Regulations, 1992, within 24 hours of the execution of the trade. The Client agrees that the contract note will be issued in digital form which shall be sent by way of electronic mail to the address provided by the Client.
The Client agrees and undertakes to immediately deposit with Us such funds, securities or other acceptable security, which may be required as margin. The Client agrees that the Company shall be entitled to require the Client to deposit a higher margin than that prescribed by the Exchange.
The Margin will not be interest bearing. The Company shall have, at its sole discretion, the irrevocable right to set off a part or whole of the Margin against any dues of the Client.
Without prejudice to the Company's other rights, the Company shall be entitled to liquidate / close out all or any of the client's positions for non-payment of margins or other amount, outstanding debts, etc., and adjust the proceeds of such liquidation / close out against the client's liabilities / obligations. Any and all losses and financial charges on account of such liquidation / closing-out shall be charged to and borne by the Client.
The Client agrees that all payments due to the Company will be made within the specified time. All payments made to the Company shall be from the primary account of the Client and shall not be from any third party.
The Client hereby authorizes the Company to release all payments due to him from the trading account maintained with the Company, against specific request in this behalf.
All delivery to be effected to the Company for a trade, must be made available prior to placement/execution of the sale order. However, due to any circumstances the same is not available in the Client account, the delivery must be made within 24 hours from the execution of the sale order or one day before the pay-in date, whichever is earlier.
The Platform and all information, content, materials, products including, but not limited to text, content, photographs, graphics, video and audio content and computer code ("Content") on the Platform is owned and controlled by the Company and its group companies or affiliates and the design, structure, selection and feel and arrangement of the Content is protected by copyright, patent and trademark laws.
You are not permitted to use the Marks without the express prior written consent of the Company or the third party that owns the Marks.
The Client agrees to pay the Company and authorises the Company to debit from its Fund balance any brokerage, commission, fees, statutory/regulatory dues and transaction charges as agreed upon and due from time to time.
All fees, brokerage, and charges on the Company's platform are subject to change from time to time, subject to complying with rules prescribed by the Depository, Exchanges and SEBI, at the Company's discretion, with due notification to the Client.
Clients are allowed to transfer funds in their Trading Account only from bank accounts which are registered with Us. Any transfer from a non-registered bank account will not be considered and trading limits will not be given to clients against such credit.
Clients are advised to transfer funds using the payment gateway option provided on the mobile app. Upon successful verification of the transaction, limits will be assigned to the client. Available modes of payment through the instant payment gateway are UPI and IMPS/ NEFT/ RTGS.
In case clients choose to transfer the funds directly through Bank / UPI (i.e., not using the mobile app), the credit for the same will be provided only upon receipt and identification of the client, this process will be on best effort basis and may take time.
The Client agrees to indemnify the Company and/ its group entities and affiliates, its directors and employees from any losses, damages, penalties, claims, costs and demands arising out of the Client's breach or non-performance of the duties and obligations, representations, warranties and covenants under the Terms & Conditions.
In no event shall the Company and/ or its group entities and affiliates and their officers, partners, consultants, agents and employees, be liable to the Client or any third party for any special, incidental, indirect, consequential or punitive damages whatsoever, arising out of or in connection with the Client's use of or access to the Platform or Content on the Platform.
The Company shall not be liable for failure or error of any transaction on the Platform or for any failure on part of the Company to perform any of its obligations under these Terms & Conditions if performance is prevented, hindered or delayed by a Force Majeure event.
The term "Force Majeure Event" means any event due to any cause beyond the reasonable control of the Company, including, but without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.
No refund of account opening charges shall be made once the Trading account is opened with us. Refund shall be provided only under circumstance where the account opening charges are paid more than once by the Client during account opening process.
Once the Client's Trading account is opened, any payments made thereafter will be credited towards your account and there shall be no refunds. To withdraw any amount from such account, the Client may place withdrawal request through the Platform. The Company shall process payout for such request within 1 business day.
Note: The completion of the refund procedure is subject to agencies such as banks, payment gateways, etc.
The Terms & Conditions will continue to apply until terminated by either You or the Company. If You object to the Terms & Conditions or are dissatisfied with the Platform, your only recourse is to (i) close Your Account on the Platform; and/or (ii) stop accessing the Platform.
The Company may delist You or block Your future access to the Platform or suspend or terminate your Account if it believes, in its sole and absolute discretion that You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms & Conditions.
You may terminate Your account with Us by raising a termination request through the Platform. Such termination requests can only be initiated when (i) the portfolio value of the User is Zero, and (ii) there are no monies due to the Company from the User.
The Terms & Conditions shall be governed and construed in accordance with the laws of India without reference to conflict of laws principles. All disputes arising in relation to it shall be subject to the exclusive jurisdiction of court at Mumbai.
Investment in the securities market are subject to market risks, read all investments related documents carefully, before investing.
Investor Satisfaction is of utmost importance to Us, for which necessary mechanisms and systems are put in place. In case of any dissatisfaction with the Platform Services, the Client shall first file a formal complaint with the customer service of the Company prior to pursuing any other recourse.
Clients can email their grievances on the email id grievances@punch.trade, which is displayed on the Platform and the same is also mentioned on the contract notes and other correspondence.
All notices, correspondences or communications issued under this agreement shall be served in any one or more of the following modes of communications: