National Spot Exchange Limited FT Tower, 4th Floor, CTS No. 256 & 257, Suren Road, Chakala, Andheri (East), Mumbai 400093. Tel. No.: +91-22-6761 9901-03, Fax No.: +91-22-6709 9031 Website: www.nationalspotexchange.com, E-mail: [email protected]
National Spot Exchange Limited Registered Office: FT Tower, 4th Floor, CTS No. 256 & 257, Suren Road, Chakala, Andheri (East), Mumbai 400093. Tel. No.: +91-22-6761 9900, Fax No.: +91-22-6761 9931 Website: www.nationalspotexchange.com, E-mail: [email protected]
* Please read the terms, conditions and guidelines carefully before filling-up the application form. * Please attach all relevant documents along with this application. * Please use additional sheets to furnish information, wherever necessary. * Please put seal & signature on each page of the Application Form. * National Spot Exchange or The Exchange or NSEL has been used interchangeably unless otherwise specified. * Please fill in the Application Form in BLOCK LETTERS only.
Terms and conditions for seeking Trading-cum-Clearing Membership of National Spot Exchange Ltd.
1) a) Eligibility: An Indian national or legal entity confirming to any of the following categories shall be eligible to apply for the membership of the Exchange: (i) Individuals or Sole proprietorship firms (ii) Hindu undivided Families (iii) Partnership Firms (iv) Co-operative societies registered with the Registrar of co-operative societies (v) Corporate entities incorporated under Companies Act, 1956 or under any central or state legislation (vi)Such other entities as may be permitted by the Exchange b) Net worth criteria: The minimum net worth criteria for membership shall be Rs. 20.00 lakh and the computation of net worth shall be strictly as per the format prescribed.
2) The eligible applicant having the prescribed net worth shall submit the application form along with a demand draft of Rs. 15,30,000/- (Rupees Fifteen Lakh Thirty Thousand only) plus Applicable Taxes favoring “National Spot Exchange Ltd.” payable at Mumbai towards Membership Admission fee, Processing Fee and Annual Subscription Fee. The applicant shall also submit the following document along with the application form: a) Bio data of the applicant / partners / directors / authorized signatories (as per format given in Annexure-A) containing self declaration of his/their present business activities. b) Proof of age and address of the applicant (s) or the authorized signatories in case of corporate (e.g., passport, driving license, election ID card etc.), c) In case of a Partnership firm, Copy of Registered Partnership Agreement. d) In case of a corporate, Board Resolution seeking membership of the Exchange and for appointment of authorized signatories / authorized persons(As per format given in Annexure-B), certified true copy of Memorandum and Articles of Association and shareholding pattern (As per format given in Annexure-C) e) Net worth Certificate as on 31st March of last financial year issued by a Chartered Accountant along with Computation of Net worth. f) Undertaking for not being debarred / suspended / default (As per prescribed format given in Annexure-D) g) Copy of PAN card
3) The applicant shall be interviewed by the Exchange and in case of a corporate, the authorized signatories shall attend the interview.
4) On receipt of confirmation from the Exchange, the applicant shall remit the Security Deposit of Rs. 15.00 Lakh within 15 days from the date of intimation about the decision of the Exchange, appointing the said person as a Member of the Exchange. The payment shall be made by way of demand draft favouring ‘National Spot Exchange Ltd.’ payable at Mumbai. In case of failure to do so, the membership right will lapse forthwith.
5) The applicant shall submit the following documents with NSEL, consequent upon his selection, in the prescribed format, which are pre- requisite for his eligibility for trading: a) Proof of educational qualifications of the authorized signatories, b) In case of a Partnership firm, copy of Firm Registration Certificate, undertaking from all partners authorizing the Managing Partner in a prescribed format and the sharing pattern in a prescribed format. c) Trading-cum-Clearing Membership Undertaking d) In case of VSAT - VSAT Undertaking, No-objection for installation of VSAT (Dish Antenna), Questionnaire for VSAT, e) In case of leased line-Undertaking along with an application, f) Bank reference letter from the Branch Manager of the present Banker, g) Internet Undertaking , in case intended to connect through internet, h) Latest Annual Report / Auditors Report, and i) Any other document, as may be required by the Exchange.
6) Notwithstanding anything contained herein, the Exchange shall have absolute discretion and right to relax, vary, change, add to and delete any or all of the eligibility criteria for Application / Membership for any person or partners or directors or any member of governing body. Further, the admission of the applicant as a member would be at the sole discretion of the Exchange.
7) Application once submitted cannot be withdrawn as the application is being processed on first-cum-first serve basis.
8) Fee and deposit structure:
(a) Membership Admission fee (Non-refundable) Rs.15.00 lakh + Applicable Taxes
(b) Application Processing Fee Rs. 5,000/- + Applicable Taxes (Payable at the time of Submission of Application form)
(c) Interest free Security Deposit Rs. 15.00 lakh
(d) Annual Subscription Fee Rs. 25,000/- + Applicable Taxes
9) Membership is transferable after three years from the date of admission.
10) Interest free Security Deposit is to be given in the form of 50% Cash and 50% Non-Cash viz. Bank Guarantee / Fixed Deposit 11)
Interest free Security Deposit is refundable after three years on surrender of the membership.
12) Connectivity: a) Applicant Members shall have to take connectivity through VSAT and/or leased line. b) Members of MCX can use the existing network connectivity subject to terms and conditions to be notified separately.
The Managing Director National Spot Exchange Limited FT Tower, 4th Floor, CTS No. 256 & 257 Suren Road, Chakala, Andheri (East) Mumbai 400093
Dear Sir,
I am/ we are desirous of becoming a Trading-cum-Clearing Member of National Spot Exchange Limited (NSEL). I/ we, hereby apply for said membership and, undertake to conform to and to abide by the Memorandum & Articles of Association and the Rules, Bye-Laws, Regulations, Business Rules, Circulars, and Orders, issued by the Exchange from time to time. I/We shall be liable for all contracts and transactions in the Exchange entered into by us or by our authorized representatives and I/We shall comply with the requirements of the Exchange relating to settlement thereof. I/We shall also abide by all decisions of the Exchange with respect to the operations of the Exchange and would perform accordingly in meeting my/our financial, regulatory and operational responsibility as decided by the Exchange from time to time. I/We agree to be responsible for all non-compliance and the Exchange shall reserve all rights of disciplinary action for any non-compliance by me/us.
Pursuant to above, I/we submit below the details of my/our candidature: 1 Name of the Applicant (full): 2 Office Address:
City: State: Pin code: Telephone No.: (with STD Code) Fax No.: (with STD Code) Email: Name of the contact person(s): Mobile No.: 3 Main area / State of operation: 4 Nationality: 5 Constitution (Individual / Registered Partnership Firm / HUF / Corporate / Institution / Bank) 6 Date of incorporation/registration (in case of a company) 7 Details of Chief Executive / Proprietor / Partner / Director Name: Designation: Tel.No.: (with STD Code) Fax No.: (with STD Code) Mobile No: Email ID:
8 Income Tax Permanent Account No. 9 Details of your existing banking operation Name and branch address:
Account No: Account is operational since 10 Current business / occupation 11 Current Net worth Rs...... lakh as on ... 12 Are you a member of any other Commodity Exchange/ Stock Exchange or the licensed market intermediary in any APMC? (Provide details) 13 Please give the following details of the applicant: Yes No a) Have you been declared/rendered incompetent to enter into contract under any law in force in India? b) Have you ever been declared a defaulter by any Association or Exchange recognized by the Government or under any law? c) Whether any court case is pending against applicant / directors / partners or in the name of any authorized signatories? d) Have you ever been pronounced guilty of a criminal offence involving moral turpitude? e) Has any disciplinary action been taken by any APMC Authorities or commodity / stock exchange against you / any of the partners / promoters / directors / shareholders / employees of yours? If so, please provide details in a separate sheet f) Have you ever been adjudged bankrupt or have been proved to be insolvent at any time? g) Have you ever been involved in litigations, suits or proceedings or have been involved in any liability of contingent or unascertained nature? h) Have you ever been at any time convicted of an offence involving fraud or dishonesty or irregularities? i) Have you ever been associated with or a trading member of or subscriber to or a shareholder of any other commodity/stock exchange? j) Have you ever been denied / rejected membership of any commodity/stock exchange or commercial organization? k) Have you committed any act which may render you liable to be wound-up? l) Have you ever been suspended / expelled / declared a defaulter on any other commodity / stock exchange or have been debarred from trading in commodities / securities by any Regulatory Authorities like APMC, FMC,RBI, SEBI etc.? m) Have you ever had a provisional liquidator or receiver or liquidator appointed by a competent court against you? n) In case answers to any of the above questions is yes, then please provide relevant details enclosing a separate sheet? 14 Name of your Authorized Representative(s), who shall be responsible to the Exchange to ensure compliance of different provisions of the law and procedures
15 Name of Commodities in which you are specifically interested for trading
We undertake that any misstatement or misrepresentation or suppression of facts in connection with this application for membership or breach of any undertaking or condition of admission to membership may entail rejection of our application or expulsion of our membership.
I/ We hereby state that the above-mentioned particulars are true, correct and complete to the best of my/our knowledge and information. I/We also state that no relevant material fact has been suppressed while applying for the Trading-cum-Clearing Membership of NSEL.
I/ We shall appear for interview, whenever called by the Exchange for my/our seeking the trading-cum-clearing membership of the Exchange.
I/We shall pay the required fee and deposit to the Exchange and submit the necessary documents as stated in the terms and conditions and any other document as required by the Exchange for my/our seeking the trading-cum-clearing membership of the Exchange.
Date:
Place:
Authorized Signatories:
Signature:
(Names of the signatories)
(Designation of the signatories)
(Name of the organisation)
Photographs
Affix photograph Affix photograph and sign across and sign across the photograph the photograph
lines
1) Address: Corporate shall write address of its registered office as well as other dealing offices. 2) Branch office: Enclose a separate sheet for more than one branch and / or contact person. 3) Form of organization: Tick mark one and / or specify. 4) Net worth: Write the amount of net worth computed as certified by Chartered Accountant. 5) Signature and photo: Authorized signatory, as detailed below shall sign the application, paste his recent passport size photo and sign across the photo:
d
1 Individual Individual
2 Partnership firm Managing Partner, as authorized by the Registered Partnership Deed
3 HUF Karta
4 Company, Institution, Bank, Cooperative Society Two directors authorized by the Board of Directors
6) The Membership Application Form can be submitted at -
National Spot Exchange Limited FT Tower, 4th Floor, CTS No. 256 & 257 Suren Road, Chakala, Andheri (East) Mumbai 400093, India. Tel. No.: +91-22-6761 9900 Fax No.: +91-22-6761 9931
BIO DATA
Name:
Father’s Name
Date of birth:
Address: Office:
Residence:
Tel No.: Office:
Residence:
E-mail:
Mobile No.:
Fax No.:
Qualification:
Member of Commodity/Stock Exchange (specify name and period)
Present Business Activities & Work Experience (in detail)
Signature:
(Bio data has to be filled by each person, who has signed the Application form).
(On Company Letterhead)
True extracts of the minutes of the meeting of the board of directors of the company ...... held on date ...... at the registered office ...
Resolved that the board authorizes ...... Ltd, to become a Trading-cum-Clearing Member (TCM) of National Spot Exchange Limited (NSEL).
Further the board appoints Mr./Ms ...... and Mr./Ms ...... to be the authorized representative(s) of the company and they are hereby authorized to act as designated director(s) on behalf of the company for all matters related to National Spot Exchange Limited (NSEL).
Further resolved that Mr./Ms ...... and /or Mr./Ms ...... of the company are also authorized to sign jointly or severally all documents / agreements on behalf of the company for acquirin g the membership and operations of National Spot Exchange Limited (NSEL)).
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
CHAIRMAN COMPANY SEAL
Date :
Place:
Specimen Signatures of Authorized Signatories: Name of Authorized Signatory Specimen Signature
1)
2)
Signatures Attested
Chairman
SHAREHOLDING PATTERN (FOR CORPORATE) (ON COMPANY’S LETTER HEAD)
SHAREHOLDING PATTERN of ...... (Name of Member) as on .Paid up capital: ...... Rs. ..
Face value of each equity share (or any other instrument): ...... Rs. ..
Sr. no. Name # Number of shares held Amt paid-up (Rs.) %age of total 1 2 3 4 5 6 7 8 9 10 Others @ Total
NOTES: # In case of body corporate, give similar details thereof separately.@ Persons holding 5% or more of the paid up capital should be shown separately and not clubbed in Others.
Date:
1. 2.
Signature(s) Signature(s) Designated Directors Designated Directors With their names and seal With their names and seal Place:
This is to certify, based on my/ our scrutiny of the books of accounts, records and documents, that details of Shareholding, as given above, is true and correct to the best of my/our knowledge and as per information provided to my/our satisfaction.
Place: For (Name of Accounting Firm)
Date: Name of the Partner (Chartered Accountant) Membership Number
(Format of Undertaking) (on the letter head of the member)
To, The Membership Department National Spot Exchange Ltd., FT Tower, 4th Floor, CTS No. 256 & 257 Suren Road, Chakala, Andheri (East) Mumbai 400093.
Dear Sir,
I/We hereby confirm/undertake that ...... (Trade Name of the Trading Member) and …………………………………. (Name of the Proprietor/Designated Directors/Managing Partners/Karta) a. are not debarred/suspended/declared defaulters by APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange. b. are not connected with any of the defaulting/debarred/suspended member of any Stock Exchange/Commodity Exchange. c. there are no complaints/disciplinary action against us at APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange. d. no investigation/enquiry by APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange is pending against us or undertaken against us.
In case of any action/complaints/investigation/enquiry by any APMC/Statutory Agency/Regulatory Agency/Stock Exchange/Commodity Exchange in future, I/We undertake to intimate the Exchange immediately.
I/We declare that the information given above is true.
Yours faithfully
For (Name of the Trading Member)
1.Authorised Signatory (Designated Director/Managing Partner/Proprietor/Karta)
2. Authorised Signatory (Designated Director/Managing Partner)
Rubber Stamp
Date:
Place:
National Spot Exchange Limited FT Tower, 4th Floor, CTS No. 256 & 257, Suren Road, Chakala, Andheri (East), Mumbai 400093, India. Tel. No.: +91-22-6761 9900, Fax No.: +91-22-6761 9931 Website: www.nationalspotexchange.com, E-mail: [email protected]