INDstocks refer and earn Terms & Conditions

  1. This INDstocks refer & earn program (‘Program’) is offered, administered and controlled by INDstocks Private Limited (Formerly known as INDmoney Private Limited) (“Company / INDmoney”).
  2. The Program T&Cs shall be read along-with but not limited to INDmoney Platform Terms and Conditions and Privacy Policy, policies & procedures, account opening form(s), undertaking(s), tariffs, authorization(s) etc. governing your use of INDstocks securities trading services maintained with the Company shall form a legally binding agreement between you and Company for participating in the Program.
  3. By proceeding ahead, you hereby agree and accept to be bound by the Program Terms and Conditions (“T&Cs”) mentioned below for the Program. 
  4. You can invite your friends & family by sharing your referral link / code via whatsapp or other similar apps / functionality to open their INDstocks Demat and Trading account.
  5. The offer is valid from 08th August 2023 till it lasts.
  6. Eligible users who have successfully opened a Demat and Trading account with Company would be permitted to participate in the Program.
  7. This Program is applicable only on mobile application and user(s) completing the account opening journey via INDmoeny website will not be considered under the Program.
  8. Referrer’s friend(s) need to complete their KYC, successfully open their Demat and Trading account with the Company by using Referrer’s referral link/code within 30 days from the date of Registration on the mobile application (‘Successful Referral.’). For clarity, successful opening of Demat & Trading account implies when the account is opened after complete document & application verification in line with the SEBI / Exchange/ Depository regulations and internal policies and procedures of the company.
  9. Referrer will be eligible to receive referral reward(s) against maximum five Successful Referrals in any calendar month i.e., Rs. 100 per Successful Referral (‘Referral Reward’). The Referral Rewards will be subject to applicable taxes (if any). No Referral Reward shall be applicable for more than five referrals; however, Referrer can share as many referral as desired. The Company may, at its sole discretion, may offer different referral incentive rates across different referring person as Referral Reward(s) to the extent and for the period of the limited period Program.
  10. The Referral Reward can be claimed by Referrer post completion of Successful Referral, in following manner: On completion of Successful Referral, Referrer can claim the Referral Reward by swiping up the applicable reward card and receive the Referral Reward directly in their INDstocks wallet within 3-5 working days from Referrer swiping up the reward card. In case it is a weekend, public holiday or a bank holiday, the Referral Reward will be credited to INDstocks wallet on the next working day.
  11. The Referrer can claim the reward within thirty days of being eligible for Referral Reward card. After thirty days the Referral Reward card shall expire, and the Referrer shall not be eligible to claim the Referral Rewards.
  12. For clarity, the Referrer will receive the Referral Reward once the Referee account is activated (i.e. Demat and Trading account is opened after complete document & application verification in line with the SEBI / Exchange regulations and internal policies and procedures of the company) and the Referee completes all the Successful Referral criteria.
  13. All payouts made to such Referrer/s under this Program shall be post Tax Deducted at Source (TDS) which shall be at 5% or as per Applicable Law.
  14. Company at its sole discretion, reserves the right to either temporarily or permanently, withdraw or suspend the Program at any time without giving any notice or assigning any reason for the same., whether in respect of one or more user.
  15. Any client who opens a new account after closing the existing account will also not be considered for as Successful Referral and as such shall not be eligible for Referral Reward.
  16. Company’s employee and their blood relatives will not be eligible to participate in the Program for Referral Rewards.
  17. Company and any of its officers, directors, personnel and employees shall not be liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary and consequential in any way arising from this Program.
  18. For queries/complaints pertaining to redeeming of the rewards mentioned in the refer and reward section, Referrer can raise a ticket via help section within INDstocks refer & earn section.
  19. The Referrer will not undertake any form of selling / advisory activities in secondary market w.r.t securities and will not manage the portfolio Referee. Referrer shall strictly limit his / her role to “Referral” only.
  20. Company reserves the right to carry out checks & controls as it deem fit and proper, before disbursal of the referral amount to the Referrer.
  21. Any grievances related to above scheme/offer/campaign would not be entertained on under investor protection or grievance redressal measures of the Exchange. The grievance related to the scheme shall be addressed by Company’s grievance redressal mechanism and will not be governed by any other grievance redressal forum of regulator/s.
  22. If the details provided for referral(s) are incomplete / incorrect / invalid / duplicate, the Referrer who has provided a reference shall not be entitled to any Referral Reward under the Program.
  23. This offer cannot be combined with any other offer.
  24. Referrer agrees that the following activities are expressly prohibited and engaging in any of these will lead to initiation of legal and criminal action against you and also result in immediate termination and disqualification from the Program, forfeiture of existing referral invitations and accrued, but not yet received, Referral Rewards:
    • Spam, bulk distribution of invitations, distribution to strangers or any other promotion of Company’s Referral offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, SMS, publishing any article or content about Company’s products, services etc.
    • Advertisement of any kind in any form on any medium print, audio visual form, web etc including social media (facebook, twitter, whatsapp, instagram, youtube etc.), or spam under any applicable law or regulation. (Advertisement includes all forms of communications like any information about Company’s  products, services etc, form of document, pamphlets, circulars, brochures, notice or any research reports or any other literature or information, material published, or designed for use in a newspaper, magazine, SMS or other periodical, radio, television, telephone or tape recording, video tape display, signs or billboards, motion pictures, telephone directories (other than routine listings) or other public media including any generally accessible websites or emails, whether in print or audio visual form or used in workshop/seminar or public speaking or in any other manner. This also includes social media including but not limited to Facebook, Twitter, Instagram, YouTube, WhatsApp, etc.
    • Fraud, attempted fraud or abuse of the Company’s Program or these Terms & Conditions.
    • Selling, trading, bartering or providing anything of value to your Invitee beyond the referral invitation or otherwise using Your Program invitations or Rewards for promotional purposes.
    • Organising competitions, contests online, posting content about Company etc.
    • Any act or omission resulting in damage to Company in any form whatsoever in nature.
  25. THE BOMBAY STOCK EXCHANGE/NATIONAL STOCK EXCHANGE IS NOT IN ANY MANNER ANSWERABLE, RESPONSIBLE OR LIABLE TO ANY PERSON OR PERSONS FOR ANY ACTS OF OMISSION OR COMMISSION, ERRORS, MISTAKES AND/OR VIOLATION, ACTUAL OR PERCEIVED, BY US OR OUR PARTNERS, AGENTS, ASSOCIATES ETC., OF ANY OF THE RULES, REGULATIONS, BYE-LAWS OF THE BOMBAY STOCK EXCHANGE/NATIONAL STOCK EXCHANGE, SEBI ACT OR ANY OTHER LAWS IN FORCE FROM TIME TO TIME. THE BOMBAY STOCK EXCHANGE/NATIONAL STOCK EXCHANGE IS NOT ANSWERABLE, RESPONSIBLE OR LIABLE FOR ANY INFORMATION ON THIS WEBSITE OR FOR ANY SERVICES RENDERED BY OUR EMPLOYEES, OUR SERVANTS, AND US.
  26. INVESTMENT IN SECURITIES ARE SUBJECT TO MARKET RISK PLEASE READ ALL DOCUMENTS BEFORE INVESTING.
  27. This T&C is subject to guidelines/ directions issued by any applicable competent authority from time to time.
  28. Company’s reserves the right to amend, modify, change, add or terminate the Program or discontinue this Program without any prior notice. The Program or limited period Program may or may not be available to all users who have opened Demat and Trading account with the Company and/or may or may not be available in all geographical regions. Company reserve the right, in its sole discretion to decide the availability of Program for the users. In case there is any discrepancy or dispute regarding this Program, the decision by Company shall be final and binding, neither Company nor any third party shall have any liability towards any Referrer/Referee. The Company’s decision on Successful Referral shall be final and binding.

By agreeing to the T&C, you / Referrer specifically agree and accept to be bound by the following undertaking:

Undertaking

I/We, hereby agree to and declare the below points with respect to accepting any rewards/payment/incentives from INDstocks Private Limited (Formerly known as INDmoney Private Limited) (“INDmoney”), with respect to any referral reward or incentives from INDmoney:

  • I/We, hereby agree to and declare the below points with respect to accepting any rewards/payment/incentives from INDmoney Private Limited (“INDmoney”), with respect to any referral reward or incentives from INDmoney: 
  • I/We am/are not forbidden to do any business under the Rules, Bye-Laws and Regulations of National Stock Exchange (NSE), Bombay Stock Exchange (BSE), Central Depository Services (India) Limited (CDSL) or any Recognized Stock Exchange as defined by SEBI; 
  • I/We have read and understood all the terms, conditions, clauses of the NSE and BSE with respect to the “Byelaws” of all the Exchanges, “incentives/referral schemes” rules, and rules with respect to marketing and incentives. I/We understand that by receiving referral incentives from INDmoney, I/We and INDmoney are both bound by the rules of the Exchanges; 
  • I/We have read NSE Circular NSE/INSP/43029 dated December 26, 2019, BSE notice no. 20191227-39 dated December 2019, NSE Circular NSE/INSP/43824 dated March 11, 2020 and BSE notice no. 20200311-57  dated March 11 2020, NSE/INSP/51770 dated March 25, 2022 and BSE notice no 20220325-58 dated March 25, 2022,  and have clearly understood all the terms of the circulars. 
  • Any dispute/grievance under this scheme/referral program cannot be referred to the Investor Grievance Panel at NSE, BSE & SEBI and will be resolved between me and INDmoney as stated in the above mentioned Exchange Circulars, and any such dispute should not be made public; 
  • I/We understand that all the details/information pertaining to the client shall be maintained confidentially and the same should not be disclosed to any person except as required under any law/regulatory requirements or with the express written permission of the client.
  • I/We are accepting this incentive from INDmoney only for the referral of new clients/persons, and will not conduct IPV/OSV and have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with INDmoney, providing stock tips, managing portfolios etc; 
  • The referred client shall not be subjected to any kind of trade inducement by myself/us and INDmoney shall ensure that all instructions for placement of orders are obtained from the respective clients only.
  • I/We acknowledge that all correspondences viz. contract notes, daily margin statement, statement of accounts, Annual global transaction statements etc. will be sent to the respective client only and under no circumstances will go to the referring person.
  • I/We will not share the Reward/Incentive amount with the client being referred and no obligation whatsoever will be cast on such client. There will not be any financial transaction between the referred client and myself/ourselves  under any arrangement.
  • I/We have not, since being eligible to receive any payment/payout from INDmoney,      entered into any contracts or published any marketing material/advertisement acting as INDmoney or act as a referral agent of INDmoney without the explicit written permission of INDmoney.
  • I/We understand that publishing any marketing or advertisement material requires permission/intimation towards the Exchanges. I/We will not & have not publish/’ed any marketing material without the explicit permission of INDmoney;
  • I/We hereby declare that, since being eligible to receive any incentives from INDmoney, I/We are not an employee of INDmoney.
  • I/We also hereby declare that we are not a Trading Member on any of the Exchanges; 
  • I/We am/are not an employee of INDmoney and I/We are not a relative (i.e. dependent spouse, dependent parent & dependent children) of an employee of INDmoney.
  • I/We hereby declare that the above information are true and correct, and if any information is found to be false and incorrect, INDmoney will have the right to recover the entire amount received by me/us through whatever means INDmoney deems proper.
  • I/We agree to indemnify INDmoney and its Directors/agents/employees for any damages/claims that may arise from me/us deviating from the Rules/Bye-Laws of the Exchanges, and any terms, conditions, Policies & Procedures of INDmoney.
  • I/We hereby declare that I/We have read, understood and agree to abide by this Undertaking/Policy, INDmoney’s terms & conditions, privacy policy and policies & procedures on INDmoney’s websites.
  • I/We hereby understand this undertaking/policy, along with these terms & conditions with respect to all incentives from INDmoney, regarding referrals towards INDmoney may be changed from time to time by INDmoney, at the sole discretion of INDmoney; or by the Exchanges. Therefore, at all times, I/We shall abide by the change in such Policies and Procedures of INDmoney & Exchanges without any objections in the future.
  • I/We hereby understand that referral amount will be credited on verification of the KYC documents/ account opening procedure in the platform within reasonable working days.
  • I/We hereby understand that INDmoney’s management reserves all rights to withhold any such reward/incentives to any such referrer, at its sole discretion, for any reason whatsoever.