1. Nature of Relationship

The engagement between Share India Securities Ltd. (SISL) and the IFD is principal-to-principal. No employer–employee or agent relationship is created.

2. Empanelment & Eligibility

• Empanelment is subject to SEBI/AMFI/RBI guidelines and SISL’s internal policies.
• SISL may accept, reject, or deactivate any IFD code at its sole discretion.
• This empanelment does not permit equity broking unless separately registered.

3. Responsibilities of the IFD

• Follow all applicable laws, regulations, and SISL guidelines.
• Use only updated and approved forms, documents, and marketing material.
• No mis-selling, churning, inducements, gifts, or rebates to clients.
• Ensure correct stamping of IFD/Sub-broker code on all applications.
• Address client complaints related to investments sourced by them.
• Cooperate with audits/inspections by SISL or regulators at any time.

4. Brokerage & Payments

• Brokerage is payable only after SISL receives payment from product issuer/AMC/Lead Manager.
• Missing/incorrect IFD code on applications will result in no brokerage.
• SISL may revise brokerage rates, withhold payments, or recover excess payouts.
• Statutory deductions such as TDS/GST apply.

5. Indemnity

• The IFD shall indemnify SISL against any losses, claims, penalties, or liabilities arising due to the IFD’s actions, errors, or misconduct.
• SISL may adjust such losses against pending payouts.

6. Termination

• Either party may terminate the engagement with 30 days notice.
• Immediate termination may occur in case of:

a.) Misconduct or regulatory violations

b.) False information

c.) Expiry/non-renewal of mandatory certifications

d.) Liquidation or change in control

• All clients sourced by the IFD become direct SISL clients after termination.

7. Confidentiality

All client and business information must remain confidential during and after the engagement, except where disclosure is legally required.

8. Dispute Resolution

• All disputes will be resolved through arbitration under the Arbitration & Conciliation Act, 1996.
• Arbitration venue & jurisdiction: Delhi/Noida.

9. Notices

• Notices will be sent to the address/email provided in the KYD/registration form.
• Notices to SISL must be addressed to its Noida head office.

10. Force Majeure

Neither party is liable for delays or failures caused by events beyond control (natural disasters, system failures, war, strikes, etc.).

11. Severability

If any clause becomes invalid, the remaining terms will continue to remain in force.