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1st September 2010
Dear Customer,
We value your relationship with us.
This is to bring to you kind attention that SEBI vide its circular no. CIR/MRD/DMS/13/2010 has issued guidelines to stockbrokers for execution of Power of Attorney (POA) by clients favouring Stock Broker. Pursuant to the same, some of the authorities given to Way2Wealth under the POA executed by you in favour of Way2Wealth Brokers Private Ltd. have been modified / cancelled. The same have been listed under POA Changes.
You are, therefore, requested to kindly read through the appended annexure below and take note of the content updated therein.
Thanking you,
For Way2Wealth Brokers Private Limited
K P Sathisan, Head – Operations
INTIMATION REGARDING CHANGES IN POA AS PER SEBI CIRCULAR CIR/MRD/DMS/13/2010 DATED APRIL 23, 2010
Authorities given to Way2Wealth rights under the POA have been modified/canceled such that:
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1. |
The POA signed by you is applicable only for the specific accounts linked to your trading account and cannot be automatically extended to your other demat accounts that are likely to be linked to your trading account in future. |
2. |
Notice period is not required for cancellation/revocation of the POA. |
3. |
The POA can be revoked / canceled immediately by furnishing a written request to the Registered Office of Way2Wealth duly acknowledged by Way2Wealth and upon fulfillment of your obligation pertaining to unsettled transactions and outstanding dues payable to Way2Wealth Brokers Private Limited / Way2Wealth Commodities Private Limited / and / or Depository Participant or to a Third Party service provider or to any of their affiliates/subsidiaries as per the terms and conditions of the services/products availed by you. |
4. |
Way2Wealth is required to credit your Demat Account with securities received by Way2Wealth erroneously on your behalf. |
5. |
Way2Wealth cannot appoint or remove any agent or agents or substitute or substitutes with all or any of the powers contained in the POA in order to enable such agent or substitute(s) to exercise all or any of the powers given by you to Way2Wealth. |
6. |
Way2Wealth cannot assign the POA to any of its Assignees except to the amalgamated/ demerged/ transferee Company formed out of corporate restructuring, if any, undertaken in compliance with Section 391-394 of the Companies Act, 1956 and duly approved by the relevant High Court with one month due prior intimation. |
7. |
Way2Wealth cannot transfer your securities, debited for various services and facilities availed by you from Way2Wealth, to accounts otherwise than to its own demat accounts including demat account maintained with Way2Wealth Brokers including pool / beneficiary ACCOUNT NUMBER or such other demat account of Way2Wealth as may be intimated to you by Way2Wealth from time to time |
8. |
Way2Wealth is authorized to send, in addition to any other document required to be disseminated by it as specified by SEBI or any other regulator from time to time, consolidated summary of your scrip-wise buy and sell positions taken with average rates to you by way of SMS / email on a daily basis. |
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| DP |
CLIENT ID |
NAME |
STATUS |
PURPOSE |
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| NSDL |
10000256 |
WAY2WEALTH BROKERS PRIVATE LIMITED |
Active |
FOR EQ MARGIN |
| NSDL |
10000297 |
WAY2WEALTH BROKERS PRIVATE LIMITED |
Active |
FOR F&O MARGIN |
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| NSDL |
10002386 |
WAY2WEALTH BROKERS PRIVATE LIMITED |
Active |
BSE POOL |
| NSDL |
10004896 |
WAY2WEALTH BROKERS PRIVATE LTD |
Active |
NSE POOL |
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| CDSL |
1206290000000014 |
Way2Wealth Brokers Pvt Ltd |
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NSE POOL A/C |
| CDSL |
1206290000000052 |
Way2Wealth Brokers Pvt Ltd |
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BSE POOL A/C - PAYOUT |
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