MANDOT SECURITIES PVT. LTD.

Terms & Conditions for Referral Incentive Scheme Policy

1. BACKGROUND

This Policy has been framed with reference to applicable SEBI, NSE and other regulatory requirements, including NSE Circular No. NSE/INSP/43029 dated 26 December 2019 and NSE Circular No. NSE/INSP/43824 dated 11 March 2020, as amended, supplemented or replaced from time to time.

The Policy shall be subject to all applicable laws, regulations, circulars, guidelines and directions issued by SEBI, NSE and other competent authorities.

2. OBJECTIVE & SCOPE

The objective of this Policy is to establish a controlled and transparent framework for the referral of prospective clients to Mandot Securities Pvt. Ltd. (“Company”) and the payment of referral incentives, subject to applicable regulatory requirements.

This Policy shall remain valid until 15 September 2027, unless amended, withdrawn or extended by the Company earlier.

3. ELIGIBILITY & REFERRAL PROCESS

  1. Referrals must be made through the official Mandot referral link or through an approved referral process prescribed by the Company.
  2. The referral must be submitted before the referred person initiates or completes the account-opening process with the Company.
  3. Only genuine new clients who have no existing or prior client relationship with the Company shall be eligible.
  4. Existing clients, self-referrals, duplicate referrals, fraudulent or fictitious referrals, and minor accounts shall not be eligible.
  5. A referral shall mean a genuine introduction of a prospective client who has no prior association with the Company and is being newly introduced through the approved referral process.
  6. The referred person must complete the applicable account-opening and activation requirements within 60 days from the date of referral.
  7. The referring person must be eligible and duly approved/registered under the Company’s referral process.
  8. The Company shall have the right to verify the genuineness and eligibility of any referral before approving the referral incentive.

4. REFERRAL INCENTIVE

  1. An eligible referring client shall be entitled to 15% of the eligible brokerage income actually received/generated by the Company from the referred client, subject to this Policy and applicable regulatory requirements.
  2. In addition, the eligible referring client shall receive 300 reward points for each approved referred client, subject to the terms prescribed by the Company.
  3. For the purpose of incentive calculation, eligible brokerage shall exclude statutory charges, GST, exchange charges, SEBI charges, transaction charges, penalties, interest and other non-brokerage income or charges, as applicable.
  4. Reward points may be redeemed against eligible Brokerage, AMC and Research Service Plans, as may be permitted by the Company from time to time.
  5. Reward points, once redeemed, shall be non-refundable and non-reinstatable.
  6. In the event that a referring client closes their trading account, all accumulated and unused reward points shall stand forfeited and lapse. Such points shall not be reinstated or made available for use if the client subsequently reopens the account.
  7. Referral incentive payable to an eligible referring client shall be released where the net eligible incentive amount is ₹100 or more, subject to applicable verification, tax deductions and regulatory requirements.
  8. Eligible referral incentives shall ordinarily be paid on or before the 10th day of the following month, subject to completion of the Company’s verification and processing requirements.
  9. Referral incentives shall be payable for a maximum period of one year from the date of opening of the referred client’s account, unless the Company approves an extension in accordance with its internal policy and applicable regulatory requirements.
  10. The Company may prescribe, modify or withdraw any applicable incentive limits, reward-point terms or payment conditions, subject to applicable regulatory requirements.
  11. Applicable TDS, taxes, levies and other statutory deductions, wherever applicable, shall be deducted from the incentive.
  12. No referral incentive shall be recovered from, charged to or otherwise borne by the referred client.

5. ROLE OF REFERRER & PROHIBITED ACTIVITIES

The role of the referring person shall be limited to introducing prospective clients to the Company.

The referring person shall not:

  • provide investment advice, stock tips, research recommendations or buy/sell recommendations;
  • induce, influence or persuade any person to trade or invest;
  • place orders or operate the referred client’s trading or demat account;
  • undertake portfolio management or any other regulated activity without the requisite registration/authorisation;
  • collect or handle client funds or securities;
  • obtain, request or use client passwords, OTPs, PINs or other confidential authentication credentials; or
  • make any representation or commitment on behalf of the Company without prior written authorisation.

6. CONFIDENTIALITY & CLIENT COMMUNICATION

All client information shall be treated as confidential and handled in accordance with applicable laws and the Company’s policies.

Contract notes, margin statements, statements of account and other official client communications shall be provided directly to the client through approved communication channels.

The referring person shall not undertake IPV, OSV, KYC or other account-opening activities unless specifically authorised and permitted under applicable laws and regulations.

7. DIGITAL & SOCIAL MEDIA REFERRALS

The use of paid or sponsored advertisements, spam, misleading communications, false or exaggerated claims, guaranteed-return/profit claims or any other promotional activity relating to the referral programme shall be prohibited unless specifically approved by the Company and permitted under applicable laws and regulations.

Unauthorised use of the Company’s name, logo, branding, communication material or referral links is prohibited.

8. COMPLIANCE MONITORING & COMPANY RIGHTS

The company shall monitor referral activities, incentive calculations and payments, referral patterns, client complaints and any indications of trade inducement, unauthorised investment advice or other non-compliant activities.

The Company reserves the right to verify, approve, reject, suspend, cancel, withhold or recover any referral or incentive where it identifies fraud, misrepresentation, duplication, ineligibility, regulatory non-compliance or violation of this Policy.

9. REVIEW & AMENDMENT

This Policy shall be reviewed at least annually or earlier if required due to changes in applicable SEBI/NSE requirements, other regulatory directions, business requirements or internal compliance standards.

In the event of any change, amendment, modification, clarification, replacement or introduction of any applicable law, rule, regulation, circular, guideline or direction by SEBI, NSE or any other competent regulatory or governing authority, the Company shall have the right to amend, modify, suspend or withdraw this Policy, in whole or in part, with immediate or prospective effect, as may be considered necessary to ensure compliance.

Effective Date: __15 September 2026____