In whose favour will the cheque for purchase have to be made by the investor?
The cheque has to be made in favour of the trading member, as the trading member has to fulfill the payment obligation with the stock exchange/Clearing Corporation. • What documents are required for making a purchase in the demat mode? Investor who chooses depository mode can place order for subscription as currently followed for secondary market activities. The investor should provide their depository account details along with PAN details to the member. When investor desires to hold units in dematerialised form, KYC performed by DP will be considered compliance with applicable requirements specified in this regard in terms of SEBI circular ISD/AML/CIR-1/2008. This is in accordance with SEBI circular no SEBI/IMD/CIR No.11/183204/2009 dated November 13, 2009. • What confirmation will the investor get for the purchase order placed through the member in demat mode? The investor will receive from the Trading Member a confirmation slip (which will contain unique confirmation number and dat
