Policies For Inactive Clients.:- Policy regarding treatment of Inactive Accounts Wellindia Group as a matter of policy accepts and realizes that the Investors’ community is made of traders as well as investors. Whereas traders trade frequently, the investors trade with long gaps. The inactive client policy is framed keeping the same in mind When is a client declared to be “inactive”? A client may be declared as “inactive” for any of the following reasons:.
Any client who has not traded continually for a period of 6 months and has also not renewed his/her running account authorization, shall automatically be moved to the “inactive” category.
A client may write to SISL stating that he/she wishes to transfer his/her account into an “inactive” category, based on which the account will be marked as such.
All the funds of the client are returned to the client
All the securities of the client are transferred into the last known demat account of the client.
All the funds of the client are returned to the client.
In case the demat account/ bank account details are not available and the client is not contactable, the securities/ funds are transferred into a separate account of Wellindia Securities Ltd. and held till such time Wellindia Securities Ltd. hears from the client or their representatives.
To reactivate the account, the client is expected to write to Wellindia Securities Ltd. requesting for reactivation of the account, based on which the account would be activated after due diligence by Wellindia Securities Ltd. Format of request letter for re-activation of inactive accounts is available on the website of the Company i.e. http:\\www.welllindia.com