Terms & Conditions

1. Definitions

• "Company" means Motilal Oswals Financial Services Limited, SEBI Reg. No. INH000000412
• "User" / "Client" means any person who accesses or uses the Company's services
• "Platform" means the website (www.motilaloswals.com), mobile applications, and any other digital interfaces
• "Services" means broking, depository, mutual fund distribution, PMS, advisory, and all related financial services
• "Securities" means stocks, bonds, mutual funds, derivatives, and all other financial instruments
• "Regulatory Authorities" means SEBI, NSE, BSE, CDSL, NSDL, RBI, AMFI, and other applicable bodies

2. Acceptance of Terms

By accessing or using our services, you:

• Confirm that you have read, understood, and agree to these Terms and Conditions
• Agree to comply with all applicable laws and regulatory requirements
• Acknowledge that these terms form a binding legal agreement between you and the Company
• Agree that the Company may amend these terms with appropriate notice

If you are acting on behalf of an entity, you represent that you have the authority to bind that entity to these terms.

3. Services Description

Motilal Oswals provides the following financial services (subject to regulatory approval):

• Stock broking services on NSE and BSE
• Depository participant services through CDSL and NSDL
• Mutual fund distribution and direct plans
• Portfolio Management Services (PMS) for qualified investors
• SEBI-registered investment advisory services
• IPO, FPO, NCD and bond applications
• Commodity trading on MCX and NCDEX
• Currency trading and derivatives

Services are subject to change, suspension, or discontinuation at the Company's discretion with appropriate notice to clients.

4. Eligibility and Registration

To open an account and use our services, you must:

• Be at least 18 years of age (guardian-managed minor accounts permitted under regulations)
• Be a Resident Indian, NRI, or Foreign Portfolio Investor as applicable
• Hold a valid PAN card issued by the Indian Income Tax Department
• Complete the mandatory KYC process as per SEBI/RBI guidelines
• Not be debarred or prohibited by any regulatory authority from dealing in securities
• Have a valid bank account in India (for fund transfers)

5. Account and Security

5.1 Account Credentials

You are responsible for maintaining the confidentiality of your login credentials. You agree to:

• Never share your password, OTP, or TPIN with anyone (including Company employees)
• Use a strong, unique password and enable Two-Factor Authentication (2FA)
• Notify us immediately at security@motilaloswals.com of any unauthorized access

5.2 Account Accuracy

You agree to provide accurate, complete, and up-to-date information. Providing false information may result in account termination and legal action.

6. Trading and Investment Terms

6.1 Order Execution

• Orders are executed at best available market prices at the time of placement
• The Company is not liable for delays, partial fills, or rejections due to market conditions
• Margin calls must be met promptly; failure may result in position squaring off

6.2 Advisory Disclaimer

• Research reports and recommendations are for informational purposes only
• Past performance does not guarantee future results
• Clients must conduct their own due diligence before investing

6.3 Fund Settlement

• Funds are settled as per SEBI-prescribed T+1 settlement cycle for equities
• Withdrawals are processed within 1-3 working days subject to settlement

7. Fees, Charges and Taxes

By using our services, you agree to pay all applicable charges including:

• Brokerage fees as per the chosen plan
• Securities Transaction Tax (STT) as mandated by the Government of India
• Exchange transaction charges (NSE/BSE)
• SEBI turnover fees, stamp duty, and GST at applicable rates
• Demat Annual Maintenance Charges (AMC)
• CDSL/NSDL demat debit/credit transaction charges

Fee schedules are available on the Company's website and may be updated with 30 days' notice.

8. Risk Disclosure

• Equity investments carry the risk of loss of principal
• Derivatives (F&O) are leveraged instruments with amplified risk
• Mutual fund NAVs can go up or down depending on market conditions
• PMS returns are not guaranteed and depend on market performance
• Commodity prices are subject to global factors beyond anyone's control

9. Intellectual Property

All content on our platform including logos, research reports, data feeds, software, and design is the exclusive property of Motilal Oswals Financial Services Limited. You may not:

• Copy, reproduce, or distribute any content without prior written permission
• Use our brand name or logo for commercial purposes
• Reverse-engineer or attempt to extract source code from our applications
• Scrape or crawl data from our platforms

10. Limitation of Liability

To the maximum extent permitted by law:

• The Company shall not be liable for investment losses arising from market conditions
• We are not responsible for technical failures, internet outages, or system disruptions beyond our control
• Our total liability in any case shall not exceed the brokerage paid by you in the preceding 3 months
• We disclaim all warranties, express or implied, regarding service availability and accuracy of data

11. Indemnification

You agree to indemnify, defend, and hold harmless Motilal Oswals Financial Services Limited and its officers, directors, employees, and agents from and against any claims, liabilities, damages, costs, or expenses arising from:

• Your use or misuse of our services
• Violation of these Terms and Conditions
• Violation of any applicable law or regulation
• Infringement of any third-party rights

12. Termination

Either party may terminate the account/service relationship:

• By Client: By submitting a written account closure request with all dues cleared
• By Company: With notice for breach of terms, regulatory requirement, inactivity (2+ years), or at our discretion
• Immediate Termination: Without notice in cases of fraud, regulatory debarment, or legal proceedings

Upon termination, your outstanding positions will be settled and funds returned as per applicable regulations.

13. Dispute Resolution

In case of disputes:

1. First: Contact our Customer Support at +91 22 4054 3600
2. Second: File a complaint with our Grievance Officer within 30 days
3. Third: Escalate to SEBI SCORES portal (scores.sebi.gov.in)
4. Fourth: Refer to arbitration under NSE/BSE bye-laws
5. Last Resort: Courts of jurisdiction in Mumbai, Maharashtra, India

14. Governing Law

These Terms and Conditions are governed by the laws of the Republic of India. Any disputes shall be subject to the exclusive jurisdiction of competent courts in Mumbai, Maharashtra. The following laws apply:

• Securities and Exchange Board of India Act, 1992
• Depositories Act, 1996
• Prevention of Money Laundering Act (PMLA), 2002
• Information Technology Act, 2000
• Indian Contract Act, 1872

15. Contact Information