Refund & Cancellation

1. What Funds Can Be Withdrawn (Refunded)?

   You can request a withdrawal of your "Available Cash Balance" displayed in your trading ledger. This typically includes:

   • Unutilised Margin: Funds you deposited but did not use for trades.
   • Proceeds from Sales: Money received from selling securities, available as per the standard settlement cycle (T+1 in India).
   • Excess Payments: Any accidental overpayments made to your trading account.
   
   

   Funds that cannot be withdrawn immediately:

   • Blocked Funds: Funds blocked for pending orders, open positions, or active margin requirements.
   • Uncleared Dues: Amounts owed for brokerage, taxes, or other charges.
   
   
2. Non-Refundable Charges
   

   Brokerage Fees: Charges for executed trades. Statutory Levies: Exchange Transaction Charges, SEBI Turnover Fees, STT (Securities Transaction Tax), GST, and Stamp Duty. These are mandatory regulatory charges. Account Opening Fees: Initial fees paid at the time of account creation. Annual Maintenance Charges (AMC): Fees charged for Demat account maintenance, collected periodically.

   • Brokerage Fees: Charges for executed trades.
   • Statutory Levies: Exchange Transaction Charges, SEBI Turnover Fees, STT (Securities Transaction Tax), GST, and Stamp Duty. These are mandatory regulatory charges.
   • Account Opening Fees: Initial fees paid at the time of account creation.
   • Annual Maintenance Charges (AMC): Fees charged for Demat account maintenance, collected periodically.
   
   
3. Withdrawal (Refund) Procedure
   

   Requests for withdrawal are processed electronically to the primary bank account linked to your trading account.

   Steps to Request a Withdrawal:

   • Log in to your trading portal/app.
   • Navigate to the "Funds" or "Withdrawal" section.
   • View your "Available for Withdrawal" balance.
   • Enter the amount you wish to withdraw and select the linked bank account.
   • Submit the request.
   
   
4. Processing Timelines and Cut-offs
   
   • Processing Time: Requests are generally processed within 24 hours on working days.
   • Bank Credit Time: The actual credit to your bank account depends on banking hours and NEFT/RTGS cycles, typically taking 1-2 business days after processing.
   • Cut-off Times: Requests received before our daily cut-off time (e.g., 2:00 PM IST) are processed the same day. Requests received after the cut-off are processed on the next working day.
   
   
5. Dispute and Escalation
   

   If there is a discrepancy in your ledger balance or a delay in receiving your funds, please contact our support team immediately through the "Help & Support" section or by calling our customer service number.

1. Prerequisites for Closure
• Clients must ensure the following conditions are met before initiating an account closure request:
• Zero Holdings: All securities (shares, mutual funds, etc.) must be sold or transferred to another Demat account.
• No Dues: All pending charges, fees, or a negative balance must be settled to bring the account balance to zero.
• No Open Positions: Any active intraday or derivatives positions, as well as active SIPs or IPO orders, must be closed or cancelled.
• Record Keeping: Clients are advised to download and save all necessary reports, such as P&L statements, contract notes, and ledgers, for their records before closure.
• Joint Accounts: All account holders must provide consent and signatures for closure.



2. Account Closure Procedure
• The procedure varies by account type and the client's preference for online or offline submission.
• Online Closure (for individual accounts):
• Log in to your account on our website or app.
• Navigate to the "Profile" or "Account Closure" section.
• Select the reason for closure and confirm the prerequisites are met.
• Verify identity via OTP and complete the e-sign process using your Aadhaar number.
• Offline Closure (for joint/non-individual accounts or if preferred):
• Download the official Account Closure Form from our website's support section.
• Fill out the form accurately, including your DP ID and Client ID.
• Attach self-attested copies of required KYC documents (e.g., PAN card, address proof).
• Submit the signed form and documents in person at our nearest branch or mail them to our corporate office.



3. Processing Timelines
• Account closure requests are typically processed within 7 to 10 business days from the date of receiving all complete and correct documentation. The client will be notified via their registered email and mobile number once the account is successfully closed.



4. Refund Policy and Fees
• Account Opening Fees: Fees paid for account opening are generally non-refundable once the account is operational.
• Account Closure Fees: We do not charge any fees for closing a trading or Demat account, provided all dues are cleared.
• Excess Payments: Any excess payments made for margins or transactions will be credited to your ledger and can be withdrawn as per our withdrawal policy.



5. Important Disclaimers
• Permanent Closure: Once an account is closed, it cannot be reopened with the same client ID. A new account would need to be opened if you wish to trade again in the future.
• Continuing Obligations: All rights, liabilities, and obligations related to transactions entered into prior to the closure date will continue to be binding on the respective parties.
• Dispute Resolution: In case of any disputes regarding account closure, clients can approach our grievance cell or escalate the matter to relevant authorities like SEBI through the SEBI SCORES system.