Account Opening

How to open account with PRAGYA SECURITIES PVT LTD?

Important Note:

• As per the regulations, new accounts cannot be opened if the PAN is not linked with Aadhar. Even if Aadhar is successfully linked with PAN, it must still be updated in the IT records, which can take up to 7 working days. (URL https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar )
• Before proceeding with the below steps to open the account please do the following check.

• Go to link https://www.cvlkra.com and do check your KYC Status under KYC inquiry Option.
• If the KYC Status is displayed as “VALIDATED” under “CVL KRA” then you need not required to fill PART-A of the Form downloaded from the link given below and provide rest of the forms and documents for the account opening.

To open an account, the following documents are required:

Application form

• Trading and Demat Account Form (Download Form)
• DDPI Form, Submitting DDPI is optional. (Download Form)

Supporting Documents

1. Proof of Identity (POI):

• PAN card with photograph is mandatory for all applicants except those who are specifically exempt from obtaining PAN (listed in Section D).
• Original Verified Documents (OVD) are acceptable: Unique Identification Number (UID) (Aadhaar) / Passport / Voter ID card / Driving License / Letter issued by NPR / NREGA job card
• If driving license number or passport is provided as proof of identity then expiry date is to be mandatorily furnished.
• Mention identification / reference number if ‘Z – Others (any document notified by the central government)’ is ticked.
• Others – Identity card with applicant’s photograph issued by any of the following: Central/ State Government Depart-ments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Insti-tutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members; and Credit cards/Debit cards issued by Banks.

2. Proof of Address (POA):

• PoA to be submitted only if the submitted PoI does not have an address or address as per PoI is invalid or not in force.
• Others includes – Utility bill which is not more than 3 months old of any service provider (electricity, landline telephone, piped gas, water bill); Bank account or Post Office savings bank account statement; Documents issued by Government de-partments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India
• Identity card/document with address issued by any of the following: Central/ State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members.
• Self declaration of High courts/Supreme court judges, giving the new address in respect of their own accounts.
• For FII/Sub account, Power of attorney given by FII/Sub account to the custodians (which are duly notarized and/or apos-tilled or consularized) that gives registered address should be taken.
• Proof of address in name of spouse may be accepted.
• Registered lease or Sale agreement/ Flat maintenance bill / Insurance copy / Ration card / Latest Property tax.
• Original Verified Documents (OVD) are acceptable: Unique Identification Number (UID) (Aadhaar) / Passport / Voter ID card / Driving License / Letter issued by NPR / NREGA job card.

3. Exemptions/Clarifications to PAN (*Sufficient documentary evidence in support of such claims to be collected)

• Investments (including SIPs), in Mutual Fund schemes up to INR 50,000/- per investor per year per Mutual Fund.
• Transactions undertaken on behalf of Central/State Government, by officials appointed by Courts, e.g., Official liquidator, Court receiver, etc.
• Investors residing in the state of Sikkim.
• UN entities/multilateral agencies exempt from paying taxes/filing tax returns in India.
• In case of institutional clients, namely FIIs, MFs, VCFs, FVCIs, Scheduled commercial bank, Multilateral and Bilateral devel-opment financial institutions, State Industrial development corporations, insurance companies registered with IRDA and public financial institutions as defined under section 4A of the Company Act 1956, custodians shall verify the PAN card de-tails with the original PANs and provide duly certified copies of such verified PAN details to the intermediary.

4. List of people authorized to attest the documents:

• Authorized officials of Asset Management Companies (AMCs).
• Authorized officials of Registrar & Transfer Agent (RTA) acting on behalf of the AMC.
• KYC compliant mutual fund distributors affiliated to Association of Mutual Funds (AMFI) and have undergone the process of ‘Know Your Distributor (KYD)’.
• Notary Public, Gazette Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
• In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy/ Consulate General in the country where the client resides are permitted to attest the documents.

In-person Verification (IPV)

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, Webcam or a physical verification is required. Either Our Employee or our Authorised Person will make In-Person Verification.

The forms will be reviewed in case any corrections are required. After the forms are reviewed, in-person verification will be done.

Once all the documents are ready then either hand over all the documents to our Employee / Authorised Person physically or Courier all the documents to:

227/228 Kailas Plaza, V. B. Lane,
Ghatkopar East. Mumbai - 400075.