questions relating to sell purchase of shares/securities
Sanjeev
(Querist) 17 April 2009
This query is : Resolved
My questions are:
1. How a valid order for buy/sell of shares/securities can be placed, should it be in writitng only or it could be orally or telephonically also?
2.As per the investors rights and obligation point 1.3.5 it is provided that a client can "Give any order for buy or sell of a security in writing or in such form or manner, as may be mutually agreed. Giving instructions in writing ensures that you have proof of your intent, in case of disputes with the member.
here my question is that in case of there is no manner expressly agreed what are the such valid manners for placing order for buy/sell?
3. If a client alleges that some trades are executed without his knowledge and consent, the onus of proof on validity of such trades lies on whom, on trading member or on a client?
4. These days most of brokers/trading Members have practice of taking order telephonically and also they records such conversation between the clients and the operator, is it a valid practice approved by SEBI, NSE, BSE and under other laws
s.subramanian
(Expert) 31 October 2010
1. can be oral and over telepnone as well.
2.that is contained in the points noted by you. it recognises any other mode mutually agreed upon.
3.on trading member only.
4.yes.it is approved.
s.subramanian
(Expert) 31 October 2010
1. can be oral and over telepnone as well.
2.that is contained in the points noted by you. it recognises any other mode mutually agreed upon.
3.on trading member only.
4.yes.it is approved.
R.Ramachandran
(Expert) 31 October 2010
Yes, I agree with the answers provided by Mr. Subramanian.
