SMIFS Limited

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Attention Investors

As stated in the new circular from NSE, additional margins shall be made applicable for all equity derivatives in phases starting from 14th September 2018    |   Attention Investors: 1. KYC: KYC is one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.   |   2. Prevent Unauthorized Transactions in your Demat Account : Update your Mobile Number and Email address with your Depository Participant. Receive alerts on your Registered Mobile and Email address for all debit and other important transactions in your Demat Account directly from CDSL/ NSDL on the same day.... issued in the interest of investors.   |   3. Prevent Unauthorized Transactions in your Broking Account : For Stock Broking Transaction 'Prevent unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day...Issued in the interest of Investors.   |   4. "Rights & Obligations of Stock Broker and Client”: Uniform Risk Disclosure Documents (for all segments / exchanges) and Guidance Note detailing the Do’s and Don’ts for trading on exchanges in the vernacular languages are available on NSE website at https://www.nseindia.com/membership/content/complinc_trading_mem.htm and can be downloaded.   |   5. Caution towards unsolicited messages: Please Refer Exchange Circulars: BSE Notice 20171117-18 dated 17-11-2017, BSE Notice 20180515-39 dated 15-05-2018, NSE Circular- 0208/2017 dated, 17-11-2017 NSE Circular: 0080/2018 dated 15-05-2018. Beware about unsolicited messages and refer the List of symbols in which messages received, appearing on Exchange Website : https://www.nseindia.com/ and https://www.bseindia.com/. Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of unethical behaviour, systemic wrongdoing or potential frauds through the anonymous portal facility provided on BSE & NSE website.   |   6. IPO: No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign the application form to authorize you bank to make payment in case of allotment. No worries for refund as the money remain in investor's account.   |   7. “SMIFS Limited as a Broker does not guarantee any return on investment or trading as the return on Investment and/or trading are subject to Market Risk”.   |   8. SCORES: Filing complaints on SCORES - Easy & quick | a. Register on SCORES Portal | b. Mandatory details for filing Complaints on SCORES - Name, PAN, Address, Mobile Number, Email ID | c. Benefits - Effective Communication and Speedy Redressal of the Grievances. 9. a. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. | b. Update your mobile number & email Id with your Stock Broker/Depository Participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. | c. Pay 20% upfront margin of the transaction value to trade in cash market segment. | d. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. | e. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.     World Investor Week 2021 | November 22-28, 2021 | Investing with Knowledge – Way to Financial Independence

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SMIFS Limited

OPEN AN ACCOUNT

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Investor Charter

Doctrine of SMIFS
Doctrine of SMIFS
Helpdesk Escalation Matrix of SMIFS
Investor Complaints Data
Grievance Redressal & SCORES Portal
Holiday List of SMIFS
Bank Details

Initiatives by SMIFS for Client Servicing & Grievance Redressal

SMIFS Limited (in short “the Company/ SMIFS/ Trading Member/ Stock Broker”) is a Company registered under the provisions of the Companies Act, 1956 with limited liabilities, having its registered office at 4, Satyajit Ray Dharani (formerly Lee Road/ O C Ganguly Sarani) and registered with Securities and Exchange Board of India (in short “SEBI”) as a Stock Broker and Depository Participant, thus a Securities Market Intermediary as per the various provisions enshrined in the relevant Acts of SEBI.

SMIFS is a Trading Member of National Stock Exchange of India Limited (NSE); BSE Limited (BSE); Multi Commodity of Exchange of India Limited (MCX) and Indian Commodity Exchange Limited (ICEX) with SEBI Registration Number: INZ000220635. SMIFS is a Depository Participant of National Securities Depository Limited (NSDL) bearing DP ID – IN301629 and Central Depository Services (India) Limited (CDSL) bearing DP ID – 12016000 with SEBI Registration Number IN-DP-414-2019. SMIFS is also registered as a Portfolio Manager with SEBI Registration Number INP000004623 and Research Analyst with SEBI Registration Number INH300001474. For the sake of brevity NSE, BSE, MCX & ICEX shall be collectively referred to as Stock Exchange(s).

At SMIFS Limited, we believe in offering the very best of products and ensuring high service standards. As part of this endeavour, we believe that investors should be able to contact us to offer comments on our products / services and also to address their grievances, if any. We earnestly value an investor’s feedback as it helps us review our present standards and improve upon them at every possible opportunity. The following are the various avenues for an investor to contact / write to us, depending on their convenience.

In order to facilitate investor awareness about various activities which an investor deals with such as opening of account, KYC and in person verification, complaint resolution, issuance of contract notes and various statements, process for dematerialization/rematerialization etc., SMIFS has prepared an Investor Charter detailing the services provided to Investors, Rights of Investors, various activities of SMIFS with timelines, DOs and DON’Ts for Investors and Grievance Redressal Mechanism

Vision of SMIFS

To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.

Mission of SMIFS

  • To provide high quality and dependable service through innovation, capacity enhancement and use of technology.
  • To establish and maintain a relationship of trust and ethics with the investors.
  • To observe highest standard of compliances and transparency.
  • To always keep ‘protection of investors’ interest’ as goal while providing service.

Services provided to Investors of SMIFS

  • Execution of trades on behalf of investors.
  • Issuance of Contract Notes.
  • Issuance of intimations regarding margin due payments.
  • Facilitate execution of early pay-in obligation instructions.
  • Settlement of client’s funds.
  • Intimation of securities held in Client Unpaid Securities Account (CUSA) Account.
  • Issuance of retention statement of funds.
  • Risk management systems to mitigate operational and market risk.
  • Facilitate client profile changes in the system as instructed by the client.
  • Information sharing with the client w.r.t. exchange circulars.
  • Redressal of Investor’s grievances.

Rights of Investors of SMIFS

  • Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
  • Receive complete information about the risks, obligations, and costs of any investment before investing.
  • Receive recommendations consistent with your financial needs and investment objectives.
  • Receive a copy of all completed account forms and agreements.
  • Receive account statements that are accurate and understandable.
  • Understand the terms and conditions of transactions you undertake
  • Access your funds in a timely manner and receive information about any restrictions or limitations on access.
  • Receive complete information about maintenance or service charges, transaction or redemption fees, and penalties.
  • Discuss your grievances with compliance officer of the firm and receive prompt attention to and fair consideration of your concerns.

Various activities of SMIFS as a Stock Broker with timelines

Sr. No. Activities/ Services provided by SMIFS Expected Timelines
1 KYC entered into KRA System and CKYCR 10 days of account opening
2 Client Onboarding Immediate, but not later than one week
3 Order execution Immediate on receipt of order, but not later than the same day
4 Allocation of Unique Client Code Before trading
5 Copy of duly completed Client Registration Documents to clients 7 days from the date of upload of Unique Client Code to the Exchange by the trading member
6 Issuance of contract notes 24 hours of execution of trades
7 Collection of upfront margin from Client Before initiation of trade
8 Issuance of intimations regarding other margin due payments At the end of the T day
9 Settlement of client funds 30 days / 90 days for running account settlement (RAS) as per the preference of client. If consent not given for RAS – within 24 hours of pay-out
10 ‘Statement of Accounts’ for Funds, Securities and Commodities Weekly basis (Within four trading days of following week)
11 Issuance of retention statement of funds/commodities 5 days from the date of settlement
12 Issuance of Annual Global Statement 30 days from the end of the financial year
13 Investor grievances redressal 30 days from the receipt of the complaint

DOs and DON’Ts for Investors for Stock Broking Activities provided by SMIFS

DOs DON’Ts
Read all documents and conditions being agreed before signing the account opening Do not deal with unregistered stockbroker.
Receive a copy of KYC, copy of account opening documents and Unique Client Code. Do not forget to strike off blanks in your account opening and KYC.
Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes. Do not submit an incomplete account opening and KYC form.
Receive all information about brokerage, fees and other charges levied. Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system.
Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions. Do not transfer funds, for the purposes of trading to anyone other than a stock broker. No payment should be made in name of employee of stock broker.
If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted. Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed.
Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades. Do not opt for digital contracts, if not familiar with computers.
Receive funds and securities / commodities on time within 24 hours from pay-out. Do not share trading password.
Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges. Do not fall prey to fixed / guaranteed returns schemes.
Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (30 or 90days). Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.
In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines. Do not follow herd mentality for investments. Seek expert and professional advice for your investments.

Timelines for complaint resolution process at Stock Exchanges against SMIFS

Sr.No. Type of Activity Timelines for activity
1 Receipt of Complaint Day of complaint (C Day).
2 Additional information sought from the investor, if any, and provisionally forwarded to stock broker. C + 7 Working days.
3 Registration of the complaint and forwarding to the stock broker. C+8 Working Days i.e. T day.
4 Amicable Resolution. T+15 Working Days.
5 Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. T+16 Working Days.
6 Complete resolution process post GRC. T + 30 Working Days.
7 In case where the GRC Member requires additional information, GRC order shall be completed within. T + 45 Working Days.
8 Implementation of GRC Order. On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order.
9 In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration Within 7 days from receipt of order
10 If intention from stock broker is received and the GRC order amount is upto Rs.20 lakhs Investor is eligible for interim relief from Investor Protection Fund (IPF). The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor.
11 Stock Broker shall file for arbitration Within 6 months from the date of GRC recommendation
12 In case the stock broker does not file for arbitration within 6 months The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any

Process of making a Complaint to Stock Exchange

Vision of SMIFS

Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.

Mission of SMIFS

  • To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
  • To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
  • To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.

Details of business transacted by the Depository and SMIFS as a Depository Participant (DP)

A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). Details available in the link https://nsdl.co.in/dpsch.php OR https://www.cdslindia.com/DP/dplist.aspx

Description of services provided by the Depository through SMIFS as a Depository Participant to Investors

(1) Basic Services:

Sr. No. Brief about the Activity / Service provided by SMIFS Expected Timelines for processing by the DP after receipt of proper documents
1 Dematerialization of securities 7 days
2 Rematerialization of securities 7 days
3 Mutual Fund Conversion / Destatementization 5 days
4 Re-conversion / Restatementisation of Mutual fund units 7 days
5 Transmission of securities 7 days
6 Registering pledge request 15 days
7 Closure of demat account 30 days
8 Settlement Instruction Depositories to accept physical DIS for pay-in of securities upto 4 p.m. and DIS in electronic form upto 6 p.m. on T+1 day

(2) Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include:

Sr. No. Type of Activity /Service Brief about the Activity / Service
1 Value Added Services Depositories also provide value added services such as
  • a.Basic Services Demat Account (BSDA)
  • b.Transposition cum dematerialization
  • c.Linkages with Clearing System
  • d.Distribution of cash and non-cash corporate benefits.
2 Consolidated Account statement (CAS) CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions).
3 Digitalization of services provided by the depositories Depositories offer below technology solutions and e-facilities to their demat account holders through DPs:
  • a.E-account opening
  • b.Online instructions for execution
  • c.e-DIS / Demat Gateway
  • d.e-CAS facility
  • e.Miscellaneous services

Details of Grievance Redressal Mechanism

The Process of Investor Grievance Redressal is as follows:

1 Investor Complaint/ Grievances Investor can lodge complaint/ grievance against the Depository/DP in the following ways: The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
2 Investor Grievance Redressal Committee of Depository If no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents.
3 Arbitration proceedings The Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s).

Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant

Sr. No. Type of special circumstances Timelines for the Activity/ Service
1
  • Depositories to terminate the participation in case a participant no longer meets the eligibility criteria and/or any other grounds as mentioned in the bye laws like suspension of trading member by the Stock Exchanges.
  • Participant surrenders the participation by its own wish.
 Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.

DOs and DON’Ts for Investors of SMIFS

SI No. Guidance
1 Always deal with a SEBI registered Depository Participant for opening a demat account.
2 Read all the documents carefully before signing them.
3 Before granting Power of attorney to operate your demat account to an intermediary like Stock Broker, Portfolio Management Services (PMS) etc., carefully examine the scope and implications of powers being granted.
4 Always make payments to registered intermediary using banking channels. No payment should be made in name of employee of intermediary.
5 Accept the Delivery Instruction Slip (DIS) book from your DP only (pre-printed with a serial number along with your Client ID) and keep it in safe custody and do not sign or issue blank or partially filled DIS slips.
Always mention the details like ISIN, number of securities accurately. In case of any queries, please contact your DP or broker and it should be signed by all demat account holders.
Strike out any blank space on the slip and Cancellations or corrections on the DIS should be initialed or signed by all the account holder(s).
Do not leave your instruction slip book with anyone else.
Do not sign blank DIS as it is equivalent to a bearer cheque.
6 Inform any change in your Personal Information (for example address or Bank Account details, email ID, Mobile number) linked to your demat account in the prescribed format and obtain confirmation of updation in system
7 Mention your Mobile Number and email ID in account opening form to receive SMS alerts and regular updates directly from depository.
8 Always ensure that the mobile number and email ID linked to your demat account are the same as provided at the time of account opening/updation.
9 Do not share password of your online trading and demat account with anyone.
10 Do not share One Time Password (OTP) received from banks, brokers, etc. These are meant to be used by you only.
11 Do not share login credentials of e-facilities provided by the depositories such as e-DIS/demat gateway, SPEED-e/easiest etc. with anyone else.
12 Demat is mandatory for any transfer of securities of Listed public limited companies with few exceptions.
13 If you have any grievance in respect of your demat account, please write to designated email IDs of depositories or you may lodge the same with SEBI online at https://scores.gov.in/scores/Welcome.html
14 Keep a record of documents signed, DIS issued and account statements received.
15 As Investors you are required to verify the transaction statement carefully for all debits and credits in your account. In case of any unauthorized debit or credit, inform the DP or your respective Depository.
16 Appoint a nominee to facilitate your heirs in obtaining the securities in your demat account, on completion of the necessary procedures.
17 Register for Depository's internet based facility or download mobile app of the depository to monitor your holdings.
18 Ensure that, both, your holding and transaction statements are received periodically as instructed to your DP. You are entitled to receive a transaction statement every month if you have any transactions.
19 Do not follow herd mentality for investments. Seek expert and professional advice for your investments.
20 Beware of assured/fixed returns.

Rights of Investors of SMIFS

  • Receive a copy of KYC, copy of account opening documents.
  • No minimum balance is required to be maintained in a demat account.
  • No charges are payable for opening of demat accounts.
  • If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. You have the right to revoke any authorization given at any time.
  • You can open more than one demat account in the same name with single DP/ multiple DPs.
  • Receive statement of accounts periodically. In case of any discrepancies in statements, take up the same with the DP immediately. If the DP does not respond, take up the matter with the Depositories.
  • Pledge and /or any other interest or encumbrance can be created on demat holdings.
  • Right to give standing instructions with regard to the crediting of securities in demat account.
  • Investor can exercise its right to freeze/defreeze his/her demat account or specific securities / specific quantity of securities in the account, maintained with the DP.
  • In case of any grievances, Investor has right to approach Participant or Depository or SEBI for getting the same resolved within prescribed timelines.
  • Every eligible investor shareholder has a right to cast its vote on various resolutions proposed by the companies for which Depositories have developed an internet based ‘e-Voting’ platform.
  • Receive information about charges and fees. Any charges/tariff agreed upon shall not increase unless a notice in writing of not less than thirty days is given to the Investor.

Responsibilities of Investors of SMIFS

  • Deal with a SEBI registered DP for opening demat account, KYC and Depository activities.
  • Provide complete documents for account opening and KYC (Know Your Client). Fill all the required details in Account Opening Form / KYC form in own handwriting and cancel out the blanks.
  • Read all documents and conditions being agreed before signing the account opening form.
  • Accept the Delivery Instruction Slip (DIS) book from DP only (preprinted with a serial number along with client ID) and keep it in safe custody and do not sign or issue blank or partially filled DIS.
  • Always mention the details like ISIN, number of securities accurately.
  • Inform any change in information linked to demat account and obtain confirmation of updation in the system.
  • Regularly verify balances and demat statement and reconcile with trades / transactions.
  • Appoint nominee(s) to facilitate heirs in obtaining the securities in their demat account.
  • Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.

Vision of SMIFS

Invest with knowledge & safety.

Mission of SMIFS

Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

Details of business transacted by the Research Analyst with respect to the investors of SMIFS

  • To publish research report based on the research activities of the RA.
  • To provide an independent unbiased view on securities.
  • To offer unbiased recommendation, disclosing the financial interests in recommended securities.
  • To provide research recommendation, based on analysis of publicly available information and known observations.
  • To conduct audit annually.

Details of services provided to investors of SMIFS (No Indicative Timelines)

  • Onboarding of Clients.
  • Disclosure to Clients
    • To distribute research reports and recommendations to the clients without discrimination.
  • To maintain confidentiality w.r.t publication of the research report until made available in the public domain.

Responsibilities of Investors of SMIFS (DOs & DON’Ts)

  • DO’s
    • a. Always deal with SEBI registered Research Analyst.
    • b. Ensure that the Research Analyst has a valid registration certificate.
    • c. Check for SEBI registration number.
    • d. Please refer to the list of all SEBI registered Research Analysts which is available on SEBI website in the following link:
      (https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14)
    • e. Always pay attention towards disclosures made in the research reports before investing.
    • f. Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments.
    • g. Before buying securities or applying in public offer, check for the research recommendation provided by your research Analyst.
    • h. Ask all relevant questions and clear your doubts with your Research Analyst before acting on the recommendation.
    • i. Inform SEBI about Research Analyst offering assured or guaranteed returns.
  • DON’Ts
    • a. Do not provide funds for investment to the Research Analyst.
    • b. Don’t fall prey to luring advertisements or market rumours.
    • c. Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.
    • d. Do not share login credentials and password of your trading and demat accounts with the Research Analyst.

Vision of SMIFS

To implement diligently researched customised investment strategies which help investors meet their long-term financial goals in a risk appropriate manner.

Mission of SMIFS

To ensure that the PMS industry provides a viable investment avenue for wealth creation by adopting high levels of skill, integrity, transparency and accountability.

Details of business transacted by the organization with respect to the investors of SMIFS

  • a) appropriate risk profiling of investors
  • b) to provide Disclosure Document to investors
  • c) executing the PMS agreement
  • d) Making investment decisions on behalf of investors (discretionary) or investment decisions taken at the discretion of the Investor (non-discretionary) or advising investors regarding their investment decisions (advisory), as the case may be.

Details of services provided to investors of SMIFS and estimated timelines

  • i. Discretionary & Non-Discretionary Portfolio Management Services (PMS):
    Under these services, all an investor has to do, is to give his portfolio in any form i.e. in stocks or cash or a combination of both. The minimum size of the portfolio under the Discretionary and/ or Non-Discretionary Funds Management Service should be Rs.50 lakhs as per the current SEBI Regulations. However, the PMS provider reserves the right to prescribe a higher threshold product-wise or in any other manner at its sole discretion. The PMS provider will ascertain the investor’s investment objectives to achieve optimal returns based on his risk profile. Under the Discretionary Portfolio Management service, investment decisions are at the sole discretion of the PMS provider if they are in sync with the investor’s investment objectives. Under the Non-Discretionary Portfolio Management service, investment decisions taken at the discretion of the Investor.
  • ii. Investment Advisory Services
    Under these services, the Client is advised on buy/sell decision within the overall profile without any back-office responsibility for trade execution, custody of securities or accounting functions. The PMS provider shall be solely acting as an Advisor to the Client and shall not be responsible for the investment/divestment of securities and/or administrative activities on the client’s portfolio. The PMS provider shall act in a fiduciary capacity towards its Client and shall maintain arm’s length relationship with its other activities. The PMS provider shall provide advisory services in accordance with guidelines and/or directives issued by the regulatory authorities and/or the Client from time to time in this regard.
  • iii. Client On-boarding
    • a. Ensuring compliance with KYC and AML guidelines.
    • b. franking & signing the Power of Attorney to make investment decisions on behalf of the investor.
    • c. opening demat account and funding of the same from the investor’s verified bank account and/or transfer of securities from verified demat account of the investor and
    • d. Mapping the said demat account with Custodian.
  • iv. Ongoing activities
    • a. To provide periodic statements to investors as provided under the PMS Regulations 2020 and other SEBI notifications and circulars (“PMS Regulations”) and
    • b. Providing each client an audited account statement on an annual basis which includes all the details as required under the PMS Regulations.
  • v. Client On-boarding
    Charging and disclosure of appropriate fees & expenses in accordance with the PMS Regulations.
  • vi. Closure and Termination
    Upon termination of PMS Agreement by either party, the securities and the funds lying in the account of the investor shall be transferred to the verified bank account/ demat account of the investor
  • vii. Grievance Redressal
    Addressing in a time bound manner investor’s queries, service requests and grievances, if any, on an ongoing basis

Timelines of the services provided to investors are as follows

Sr. No. Service / Activity provided by SMIFS Timeline(s)
1 Opening of PMS account (including demat account) for residents. 7 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable.
2 Opening of PMS account (including demat account) for non-individual clients. 14 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable.
3 Opening of PMS account (including demat account, bank account and trading account) for non-resident clients 14 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable.
4 Registration of nominee in PMS account and demat account. Registration of nominee should happen along with account opening, therefore turnaround time should be same as account opening turnaround time.
5 Modification of nominee in PMS account and demat account. 10 days from receipt of requisite nominee modification form, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable.
6 Uploading of PMS account in KRA and CKYC database. 10 days from date of account opening (Portfolio Manager may rely on the custodian for updating the same).
7 Whether portfolio manager is registered with SEBI, then SEBI registration number At the time of client signing the agreement; this information should be a part of the account opening form and disclosure document.
8 Disclosure about latest networth of portfolio manager and total AUM. Disclosure of portfolio manager's total AUM - monthly to SEBI Disclosure of latest networth should be done in the disclosure document whenever there are any material changes.
9 Intimation of type of PMS account – discretionary At the time of client signing the agreement; this information should be a part of the account opening form.
10 Intimation of type of PMS account - non discretionary. At the time of client signing the agreement; this information should be a part of the account opening form.
11 Intimation to client what discretionary account entails and powers that can be exercised by portfolio manager. At the time of client signing the agreement; this information should be a part of the account opening form.
12 Intimation to client what nondiscretionary account entails and powers that can be exercised by portfolio manager. At the time of client signing the agreement; this information should be a part of the account opening form.
13 Copy of executed PMS agreement sent to client. Within 3 days of client request.
14 Frequency of disclosures of available eligible funds. All details regarding client portfolios should be shared quarterly (point 26).
15 Issuance of funds and securities balance statements held by client. This data should be shared on a quarterly basis or upon client request.
16 Intimation of name and demat account number of custodian for PMS account. Within 3 days of PMS and demat account opening.
17 Conditions of termination of contract. At the time of client signing the agreement; this information should be a part of the account opening form.
18 Intimation regarding PMS fees and modes of payment or frequency of deduction. At the time of client signing the agreement; this information should be a part of the account opening form.
19 POA taken copy providing to client. Within 3 days of client request.
20 Intimation to client about what all transactions can portfolio manager do using PoA. At the time of client signing the agreement; this information should be a part of the account opening form.
21 Frequency of providing audited reports to clients Annual.
22 Explanation of risks involved in investment. At the time of client signing the agreement; this information should be a part of the account opening form.
23 Intimation of tenure of portfolio investments. Indicative tenure should be disclosed at the time of client signing the agreement; this information should be a part of the account opening form.
24 Intimation clearly providing restrictions imposed by the investor on portfolio manager. Negative list of securities should be taken from the client at the time of client signing the agreement; this information should be a part of the account opening form.
25 Intimation regarding settling of client funds and securities. Settlement of funds and securities is done by the Custodian. The details of clients’ funds and securities should be sent to the clients in the prescribed format not later than on a quarterly basis.
26 Frequency of intimation of transactions undertaken in portfolio account. Not later than on a quarterly basis or upon clients' request.
27 Intimation regarding conflict of interest in any transaction. The portfolio manager should provide details of related party transactions and conflict of interest in the Disclosure Document which should be available on website of portfolio manager at all times.
28 Timeline for providing disclosure document to investor. The latest disclosure document should be provided to investors prior to account opening and the latest disclosure documents should be available on website of portfolio manager at all times
29 Intimation to investor about details of bank accounts where client funds are kept. Within 3 days of PMS and demat account opening.
30 Redressal of investor grievances. Within 30 days, subject to all the information required to redress the complaint is provided by the complainant to the portfolio manager

Responsibilities of Investors of SMIFS

  • Check registration status of the intermediary from SEBI website before availing services.
  • Submission of KYC documents and application form in a timely manner with signatures in appropriate places and with requisite supporting documents.
  • Read carefully terms and conditions of the agreement before signing the same.
  • Thorough study of the Disclosure Documents of the PMS to accurately understand the risks entailed by the said investment in PMS.
  • Accurate and sincere answers given to the questions asked in the ‘Risk Questionnaire’ shall help the PMS provider properly assess the risk profile of the investor.
  • Thorough study of the quarterly statements sent by the PMS provider to the investor intimating him about the portfolio’s absolute and relative performance, its constituents and its risk profile.
  • Ensure providing complete details of negative list of securities as part of freeze instructions at the time of entering into PMS agreement and every time thereafter for changes, if any, in a timely manner.
  • To update the PMS provider in case of any change in the KYC documents and personal details and to provide the updated KYC along with the required proof.

Helpdesk at SMIFS

Clients of SMIFS Limited can approach the Customer Care Desk at the below-mentioned Contact Numbers and/or write to the dedicated E-Mail Id. for resolution of their queries.

Escalation Matrix at SMIFS for Service & Grievance Redressal

Working Hours: 10:00 AM to 7:00 PM

Details of Contact Person Address Contact No. Email ID
Customer Care - KYC Related Queries Ms. Triparna Chatterjee Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2665 / 2600 helpdesk@smifs.com
Customer Care – Transaction Related Queries Mr. Manish Ojha Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2625 / 2600 / +91 99878 73468 helpdesk@smifs.com
Customer Care – Risk Management & Surveillance Queries Mr. Maloy Chakraborty Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4011 5462 / +91 99878 34611 rms@smifs.com
Customer Care – Fund Settlement Related Queries Mr. Budhaditya Sen Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4011 5425 payments@smifs.com
Customer Care – Demat KYC Related Queries Ms. Susmita Das Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2685 / 2600 helpdesk@smifs.com
Customer Care – Demat Transactions Related Queries Ms. Suchandra Dutta Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2655 / 2600 helpdesk@smifs.com
Customer Care – POA Related Queries Ms. Divya Yadav Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2645 / 2600 helpdesk@smifs.com
Customer Care – IPO / Buy-Back/ Tender Offer Related Queries Mr. Manish Ojha Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2625 / 2600 / +91 99878 73468 helpdesk@smifs.com
Customer Care – IT Systems Related Queries Mr. Bidyut Manna – Day Shift
Mr. Lallit Kumar Das – Evening Shift 		Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4057 2666 systems@smifs.com
Head of Customer Care Ms. Debjani Sen Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4011 5401 smifs.compliance@smifs.com
Compliance Officer Mr. Sudipto Datta Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4011 5404 sudipta@smifs.com
Managing Director Mr. Ashiwini Kumar Tripathi Vaibhav, 5th Floor, 4, Lee Road, Kolkata – 700020 033- 4011 5422 investors@smifs.com

In absence of response/complaint not addressed to your satisfaction, you may lodge a complaint with SEBI at https://scores.gov.in/scores/Welcome.html or Exchange at https://investorhelpline.nseindia.com/NICEPLUS/. Please quote your Service Ticket/Complaint Ref No. while raising your complaint at SEBI SCORES/Exchange portal.

Grievance Redressal Mechanism

Level 1 – If an investor’s communication was a complaint and they are not satisfied with the Head of Customer Care they may write to the Compliance Officer – Mr. Sudipto Datta, at sudipta@smifs.com.

Level 2 – If an investor is still not satisfied with the resolution that they may have received from Compliance Officer they may write to the Managing Director – Mr. Ashiwini Kumar Tripathi at the designated Investor Grievance E-mail Id – investors@smifs.com.

SMIFS will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.

Level 3 – Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange. Complaints Resolution Process at Stock Exchange explained graphically:

Contact Details of the concerned Stock Exchange(s) / Depository(s):

Exchange Web Address Contact No Email-id
BSE www.bseindia.com (91 22) 2272 8517/8097 dis@bseindia.com
NSE www.nseindia.com (91 22) 2659 8190/91/1800 266 058 ignse@nse.co.in
MCX www.mcxindia.com (91 22) 6649 4070 grievance@mcxindia.com
Depository Web Address Contact No Email-id
CDSL www.cdslindia.com 1800-200-5533 complaints@cdslindia.com
NSDL www.nsdl.co.in (91 22) 2499 4200 relations@nsdl.co.in

Filing Complaints On SCORES - Easy & Quick

Investors can expedite Grievance Resolution by registering their Complaints with SEBI at https://scores.gov.in or they may also write to any of the offices of SEBI. For any queries, feedback or assistance, please contact SEBI Office on Toll Free Helpline at 1800 22 7575 / 1800 266 7575.

  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, Email ID
  • Benefits
    • Effective communication
    • Speedy redressal of the grievances

GRIEVANCE REDRESSAL THROUGH SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

Address of SEBI Office Contact Person : Telephone Nos. Contact E-mail ID
SEBI - Head Office : Sebi Bhavan, Plot No.
C4-4, “G” Block, Bandra Kurla Complex, Bandra East, Mumbai - 400 051 		Deputy General Manager (DGM)
(91 22) 2644 9000/4045 9000 		iggc@sebi.gov.in
sebi@sebi.gov.in
SEBI - Northern Regional Office : 5th Floor, Bank of Baroda Building,
16, Sansad Marg, New Delhi - 110 001 		Deputy General Manager (DGM)
(91 11) 2372 4001-05 		sebinro@sebi.gov.in
SEBI - Eastern Regional Office : L&T Chambers, 3rd Floor,
16, Camac Street, Kolkata - 700 016 		Deputy General Manager (DGM)
(91 33) 2302 3000 		sebiero@sebi.gov.in
SEBI - Southern Regional Office : 7th Floor, 756-L,
Anna Salai Chennai - 600 002, Tamil Nadu 		Deputy General Manager (DGM)
(91 44) 2888 0222 / 2852 6686		 sebisro@sebi.gov.in
SEBI - Western Regional Office : SEBI Bhavan,Panchvati,
1st Lane Gulbai Tekra Road, Ahmedabad - 380 006, Gujarat 		Deputy General Manager (DGM)
(91 79) 2658 3633-35 		sebiwro@sebi.gov.in

Investor Charter of Stock Exchange & Depository

Investor Charter | NSDL View Details
Investor Charter | CDSL View Details
Investor Charter | NSE View Details
Investor Charter | BSE View Details
Investor Charter | SEBI View Details
Sr. No. Account Number Bank Name Branch IFSC Code Name of the Account
1 005010200038818 Axis Bank Ltd Shakespeare Sarani, Kolkata UTIB0000005 SMIFS LIMITED-CLIENT A/C
2 00080340003956 HDFC Bank Ltd. Stephen House, Kolkata HDFC0000008 SMIFS LIMITED -CLIENT A/C Preferred Bank Account
3 001783000000191 Yes Bank Ltd. Camac Street, Kolkata YESB0000017 SMIFS LIMITED CLIENT ACCOUNT
4 1511380308 Kotak Mahindra Bank Dalhousie, Kolkata KKBK0000323 SMIFS LIMITED -NSE Cash Client A/C
5 000605032366 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED NSE CM CLIENT A/C Preferred Bank Account
6 00600340003092 HDFC Bank Ltd. Fort, Mumbai HDFC0000060 SMIFS LIMITED CLIENT A/C NSE EQUITY
7 000605032023 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED - NSE F&O CLIENT A/C
8 000605032024 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED - NSE CUDS CLIENT A/C
9 00080340003946 HDFC Bank Ltd. Stephen House, Kolkata HDFC0000008 SMIFS LIMITED -CLIENT A/C -BSE EQUITY
10 57500000134447 HDFC Bank Ltd. STEPHEN HOUSE HDFC0000008 SMIFS LIMITED- MCX CLIENT A/C
11 000605033888 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED Client AC
12 000605034268 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED - MCX CLIENT A/C
13 000605034270 ICICI Bank Ltd R.N MUKHERJEE ROAD ICIC0000006 SMIFS LIMITED - NCDEX CLIENT A/C
14 00080340059232 HDFC Bank Ltd. STEPHEN HOUSE HDFC0000008 SMIFS LIMITED - NSDL CLIENT A/c
15 00600340001235 HDFC Bank Ltd. Fort, Mumbai HDFC0000060 SMIFS LIMITED - CDSL CLIENT A/c
16 00080340058403 HDFC Bank Ltd. Stephen House, Kolkata HDFC0000008 SMIFS LIMITED - CLIENT A/C
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Basic Services Demat Account (BSDA)

The facility of BSDA with limited services for eligible individuals was introduced with the objective of achieving wider financial inclusion and to encourage holding of demat accounts. No Annual Maintenance Charges (AMC) shall be levied, if the value of securities holding is upto Rs. 50,000. For value of holdings between Rs 50,001- 2,00,000, AMC not exceeding Rs 100 is chargeable. In case of debt securities, there are no AMC charges for holding value upto Rs 1,00,000 and a maximum of Rs 100 as AMC is chargeable for value of holdings between Rs 1,00,001 and Rs 2,00,000.

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Transposition cum dematerialization

In case of transposition-cum-dematerialisation, client can get securities dematerialised in the same account if the names appearing on the certificates match with the names in which the account has been opened but are in a different order. The same may be done by submitting the security certificates along with the Transposition Form and Demat Request Form.

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Linkages with Clearing System

For actual delivery of securities to the clearing system from the selling brokers and delivery of securities from the clearing system to the buying broker.

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E-account opening

Account opening through digital mode, popularly known as “On-line Account opening”, wherein investor intending to open the demat account can visit DP website, fill in the required information, submit the required documents, conduct video IPV and demat account gets opened without visiting DPs office.

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Online instructions for execution

Account opening through digital mode, popularly known as “On-line Account opening”, wherein investor intending to open the demat account can visit DP website, fill in the required information, submit the required documents, conduct video IPV and demat account gets opened without visiting DPs office.

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e-DIS / Demat Gateway

Investors can give instructions for transfer of securities through e-DIS apart from physical DIS. Here, for on-market transfer of securities, investors need to provide settlement number along with the ISIN and quantity of securities being authorized for transfer. Client shall be required to authorize each e-DIS valid for a single settlement number / settlement date, by way of OTP and PIN/password, both generated at Depositories end. Necessary risk containment measures are being adopted by Depositories in this regard.

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e-CAS facility

Consolidated Account Statements are available online and could also be accessed through mobile app to facilitate the investors to view their holdings in demat form.

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Miscellaneous services

Transaction alerts through SMS, e-locker facilities, chatbots for instantaneously responding to investor queries etc. have also been developed.

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Complaint Resolution process at Depositories

Complaint Resolution process at Depositories

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Attention Investors

1. KYC: KYC is one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. | 2. Prevent Unauthorized Transactions in your Demat Account: Update your Mobile Number and Email address with your Depository Participant. Receive alerts on your Registered Mobile and Email address for all debit and other important transactions in your Demat Account directly from CDSL/ NSDL on the same day.... issued in the interest of investors. | 3. Prevent Unauthorized Transactions in your Broking Account: For Stock Broking Transaction 'Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day...Issued in the interest of Investors. | 4. "Rights & Obligations of Stock Broker and Client”: Uniform Risk Disclosure Documents (for all segments / exchanges) and Guidance Note detailing Do’s and Don’ts for trading on exchanges in the vernacular languages are available on NSE website at https://www.nseindia.com/membership/content/complinc_trading_mem.htm and can be downloaded | 5. Caution towards unsolicited messages: Please Refer Exchange Circulars: BSE Notice 20171117-18 dated 17-11-2017, BSE Notice 20180515-39 dated 15-05-2018, NSE Circular- 0208/2017 dated, 17-11-2017 NSE Circular: 0080/2018 dated 15-05-2018. Beware about unsolicited messages and refer the List of symbols in which messages received, appearing on Exchange Website : https://www.nseindia.com/ and https://www.bseindia.com/. Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of unethical behaviour, systemic wrongdoing or potential frauds through the anonymous portal facility provided on BSE & NSE website. | 6. IPO: No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign the application form to authorize you bank to make payment in case of allotment. No worries for refund as the money remain in investor's account. | 7. “Stewart & Mackertich Wealth Management Limited as a Broker does not guarantee any return on investment or trading as the return on Investment and/or trading are subject to Market Risk” 8. SCORES: Filing complaints on SCORES - Easy & quick | a. Register on SCORES Portal | b. Mandatory details for filing Complaints on SCORES - Name, PAN, Address, Mobile Number, Email ID | c. Benefits - Effective Communication and Speedy Redressal of the Grievances. |

Registration Numbers: Single SEBI Registration No.: NSE (Cash) NSE (F&O) NSE (CD) BSE (Cash)

BSE (F&O) BSE (CD); MCX; ICEX; :INZ000220635; CDSL & NSDL SEBI Registration No.: IN-DP-414-2019; AMFI: ARN-3080;

PMS: INP000004623: CIN-U51109WB1993PLC060987

RESEARCH ANALYST SEBI REGN. NO.: INH300001474

Regd. Office Address: 4, Lee Road, Vaibhav, 5th Floor, Kolkata – 700 020

West Bengal, India; Tel. No.: (91 33) 6634 5400, (91 33) 4011 5400; FAX: (91 33) 2289 3401

For any Grievance mail to Email: investors@smifs.com; Customer Care Email: helpdesk@smifs.com

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