Bhavesh Arvindkumar Vora
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Last updated : 31-03-2025
Key Management Personnel(s)
Name Of The Individual | Designation | Mobile number | |
---|---|---|---|
Bhavesh Arvindkumar Vora |
MD & CEO |
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Bhumika Bhavesh Vora |
Executive Director |
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Gaurav Vikrambhai Shah |
Compliance Officer |
Last updated : 31-03-2025
Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.
S.No. | Activities | 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. |
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 |
S.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 up to 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. |