Documented Error Account Policy

1. The modification to the client code is to be done only in exceptional cases and detailed reasons to be recorded, such as :

(a) Error due to communication or punching or typing such that the original client code/name and the modified client code/name are similar to each other.

(b) Modification within relatives (Relatives for this purpose would mean “Relative” as defined under sec.6 of the companies act, 1956.)

2. These transactions then are rooted thru the A/C- ‘ERROR’ in the UCC database of the Exchange for the account which is classified as error account.

3. We will inform the Exchange (through BEFS), by end of day, the reasons for modifications of client codes of non-institutional trades based on the aforesaid objective criteria.

4. There after it is reported to the Director and only with his approval, the modification should be carried after being satisfied that it is genuine, the same is required to be done to protect the interests of the client.

5. Hence the facility to modify the client code is to be used only at the senior Manager Level and should not be given to the dealers etc.

This aspect is regularly discussed in weekly review meeting.