Policy for  Dormant account June 2010
 

Policy on Dormant account:


This Policy defines the treatment of Dormant/Inactive accounts of the clients maintained with the Company.


Definition of Dormant/Inactive accounts


In case of trading account the term wherein no transactions have been carried out since last 6(six) calendar months.In case of Demat account the term Dormant/Inactive accounts refers to such accounts where no debit transaction had taken place.


Transaction in Dormant/Inactive Trading Accounts


The Dormant accounts identified based on the above criteria shall be flagged as such in Rikhav’s record. Rikhav reserves the right to freeze/deactivate such permit to carry out any fresh transactions in such account. reactivated only after undertaking proper due diligence process and fulfillment of such conditions as may be deemed fit, in the cases where the freezed/deactivated. The client’s request through letter/registered email ID/recorded telephone lines may be impressed upon to reactivate the account or carry out any fresh transactions in a dormant/inactive accounts.


Debit Transaction in Dormant Demat Accounts


The Demat accounts wherein no debit transaction had taken place for a continuous period of 6(six) months shall be flagged as Dormant/Inactive accounts. Additional due diligence would be observed over and above the normal verification in debit transactions in such accounts. The transaction shall also be verified with the BO case of high value debits and the details of the process, date, time, etc., of the verification on the instruction slip shall be recorded under the The above stated policy may vary depending on various rules, regulations and bye laws as may be prescribed by SEBI, exchanges or any other authority or as per Internal policy of Rikhav from time to time. This Policy for dormant accounts is over and above the transaction monitoring in Dormant account as per Anti dormant/Inactive account refers to such account for a continuous period of 6(six) months.accounts and shall not The clients account would be account has been verification procedure while processing any signature of a senior official.Anti-Money laundering Policy of the Company.

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