Client Code: M00087105
Dear Customer,
Re: Assignment of the POA from Reliance Commodities Limited to Reliance Securities Limited
We would like to share some key developments in relation to the broking services being availed by you from Reliance Securities Limited, Reliance Commodities and Depository related services from Reliance Capital Limited. This is in reference to your power of attorney granted in favour of Reliance Commodities Limited under your aforesaid client code.
1. As you may be aware, Securities and Exchange Board of India (“SEBI”) vide its circular dated April 23, 2010 in relation to execution of power of attorney by the client in favour of the Stock Broker/ Stock Broker and Depository Participant (“SEBI circular”) has mandated that the power of attorney issued by the client in favour of the Stock Broker and the Depository Participant should be executed in the name of SEBI registered entity only. In light of the same the power of attorney executed by you in favour of Reliance Commodities Limited (“Reliance Commodities”) is proposed to be assigned by Reliance Commodities to Reliance Securities Limited (&ldq uo;Reliance Securities”), our Stock Broker.
2. Please note that no action is required from your end, as the present POA in favour of Reliance Commodities, permits assignment. Upon such assignment of the POA, Reliance Securities will assume all authorizations, rights and obligations of Reliance Commodities contained thereunder in relation to transactions executed or that may be executed by you through Reliance Securities.
3. In light of the foregoing and as mandated by SEBI, subsequent to the assignment of the power of attorney, Reliance Securities hereby undertakes as follows:
a. Not to further transfer the rights under the POA to any assignees;
b. To return to you any securities or funds that may have been received erroneously or such securities or funds that it was not entitled to receive;
c. To provide consolidated summary of scrip wise buy and sell positions by way of short messaging services or e-mails on a daily basis.
4. Your POA presently requires you to give 60 days written intimation for the purpose of revocation. Subsequent, to the assignment and in light of the SEBI circular, please note that the POA may be terminated by you with other donors (if any) at any time without any notice period and in the event of termination due to your or other donors’ demise, upon Reliance Securities receiving actual written notice of such revocation/termination. Such revocation or termination shall in no way affect the validity of the POA, with reference to any transaction(s) initiated by you with other donors (if any) or Reliance Securities, prior to the actual receipt by Reliance Securities of a written n otice of revocation or terminati n. However, such revocation of the Power of Attorney shall become effective only after all your pending obligations and dues towards Reliance Securities /Reliance Commodities or Reliance Capital have been fulfilled to the satisfaction of Reliance Securities/ Reliance Commodities/Reliance Capital respectively. Once you have revoked the POA, Reliance Securities/ Reliance Commodities / Reliance Capital shall be in a position to offer limited services to you.
5. We intend to provide scanned copy of the POA and make the same available on our website which you may access using the security process prescribed for internet trading and download the same at your convenience from internet trading account.
6. The indicative list of Demat Account(s)/Bank Account(s) where your securities/funds shall be transferred by Reliance Securities from time to time to facilitate your sale/purchase transactions through Reliance Securities shall be made available on the web site www.reliancemoney.com . The Details of such Demat Account(s) and Bank Account(s) may be changed from time to time and the same shall be intimated to you by display on the website or in such other manner as the Reliance Securitie may deem fit.
This assignment of the power of attorney will therefore have no effect on your existing relationship with Reliance Securities / Reliance Commodities or Reliance Capital, and the same will continue to be in full force and effect.
It is a pleasure to serve you, and as our client, we assure you that you will continue to receive service of sterling standards.
In case you need any further clarifications, please do contact our nearest branch office or email us on customer.support@reliancemoney.co.in.
Yours sincerely,
For Reliance Securities Limited
Sd/-
Authorised Signatory
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