I /We hereby confirm that the EUIN box has been intentionally left blank by me/us as this transaction is executed without any interaction or advice by the employee/relationship manager/sales person of the above distributor/sub broker or notwithstanding the advice of in-appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor/sub broker.
I/We hereby confirm that I/We have read, understood and accept all the terms and conditions for (i) Transactions in the scheme(s) of Mahindra Mutual Fund; and (ii) For the usage of the Online Facility offered by Mahindra Mutual Fund & agree to the declarations given therein.
Read General Instructions before creating folio
Are you a tax resident in any country other than India?
Keep me posted on NFOs & other investment insights
(Note: The Guidance Note/notification issued by the CBDT shall prevail in respect
to interpretation of the terms specified in the form.)
Details under FATCA & CRS: The Central Board of Direct Taxes has notified Rules
114F to 114H, as part of the Income tax Rules, 1962, which require Indian financial
institutions to seek additional personal, tax and beneficial owner information and
certain certifications and documentation from all our unit holders. In relevant
cases, information will have to be reported to tax authorities / appointed agencies.
Should there be any change in any information provided by you, please ensure you
advise us promptly, i.e., within 30 days.
Please note that you may receive more than one request for information if you have
multiple relationships with us or our group entities. Therefore, it is important
that you respond to our request, even if you believe you have already supplied any
previously requested information.
If you have questions regarding your tax residency, please contact your tax advisor.
If you are a US citizen or resident or green card holder, please include United
States in the foreign country information field along with your US Tax Identification
It is mandatory to supply a TIN or functional equivalent if the country in which
you are tax resident issues such identifiers. If no TIN is yet available or has
not yet been issued, please provide an explanation and attach this to the form.
In case investor has the following Indicia pertaining to a foreign country and yet
declares self to be non-tax resident in the respective country, investor to provide
relevant Curing Documents as mentioned below:
List of acceptable documentary evidence needed to establish the residence(s) for
1. Certificate of residence issued by an authorized government body*
2. Valid identification issued by an authorized government body* (e.g. Passport,
National Identity card, etc.)
* Government or agency thereof or a municipality of the country or territory in which
the payee claims to be a resident.
In case the purchase/subscription amount is 10,000 or more and your Distributor
has opted to receive Transaction Charges, the same are deductible as applicable
form the purchase/subscription amount and payable to Distributor. Transaction Charges
in case of investments through SIP/Micro SIP are deductible only if the commitment
of investment (i.e amount per SIP/micro SIP installment x No. of installments) amounts
to Rs. 10,000/- or more and shall be deducted in 3-4 installments. Units will be
issued against the balance amount invested. Upfront commission shall be paid by
the investor directly by the investor to the ARN Holder (AMFI Registered Distributor)
based on the investors assessment on various factors including the service rendered
by the ARN Holder.
1. GENERAL INSTRUCTIONS
Please read the terms of the Key Information Memorandum/ Scheme Information Document
(SID)/ Statement of Additional Information (Scheme Documents) carefully before investing
in the scheme(s) of Mahindra Mutual Fund.
Upon submitting the Application and tendering payment online it will be deemed that
the investors have accepted, agreed to and shall comply with the terms and conditions
detailed in the Scheme Documents.
Applications complete in all respects, may be submitted using the online facility
of Mahindra Mutual Fund. Please tick in the appropriate box for relevant options
Such applications incomplete in any respect are liable to be rejected. Mahindra
Asset Management Company Private Limited (the AMC) / Mahindra Trustee Company Private
Limited (Trustee) have absolute discretion to reject any such Applications submitted
No request for withdrawal of application will be allowed after the closure of New
Fund Offer Period, if any.
Investments through distributors
As per directions of Securities and Exchange Board of India (SEBI), Investors can
route their Applications directly and /or through the distributors /employees of
the distributor who hold a valid certification from the National Institute of Securities
Markets (NISM) and ARN provided by AMFI. Further, no agents/ distributors are entitled
to sell units of mutual funds unless the intermediary is registered with Association
of Mutual Funds in India (AMFI).
Employee Unique Identification Number (EUIN)
Investors are requested to quote the EUIN of employee/ relationship manager/ sales
person of the distributor of mutual fund products while submitting the Application
through the online portal. Investors are requested to verify the AMFI registration
details from their Distributor. However, in exceptional cases, where there is no
interaction by the employee/ sales person/relationship manager of the distributor/sub
broker with respect to the transaction and EUIN box is left blank, you are required
to submit a declaration to this effect using the online portal.
For Overseas Distributors, the ARN Code provided by AMFI is required to be incorporated
in the space provided. Overseas Distributors are required to comply with the laws,
rules and regulations of jurisdictions where they carry out their operations in
the capacity of distributors.
2. TRANSACTION CHARGES
In accordance with SEBI circular No. Cir/ IMD/ DF/13/ 2011 dated August 22, 2011,
as amended from time to time the AMC/ the Fund will deduct Transaction Charges from
the purchase/ subscription amount received from the investors investing through
a valid ARN Holder i.e. AMFI registered Distributor (provided the Distributor has
opted-in to receive the Transaction Charges). The Distributor may opt to receive
transaction charges based on the type of product.
Transaction Charge of Rs. 150 (for a first time investor across mutual funds) or
Rs. 100 (for investor other than first time mutual fund investor) per purchase /
subscription of Rs. 10,000 and above are deductible from the purchase / subscription
amount and payable to the Distributor. The balance amount shall be invested.
In case of investments through Systematic Investment Plan (SIP) the transaction charges
shall be deducted only if the total commitment through SIP (i.e. amount per SIP
installment x No. of installments) amounts to Rs. 10,000/- and above. In such cases,
the transaction charges shall be deducted in 3-4 installments.
Transaction Charges shall not be deducted in the following cases:
(a) where the distributor of the investor has not opted to receive any Transaction
(b) for purchases / subscriptions / SIP Commitment of an amount less than Rs.10,000/-;
(c) for transactions other than purchases/ subscriptions relating to new inflows
i.e. through Switches etc.;
(d) for purchases / subscriptions made directly with the Fund (i.e. not through
(e) for purchases / subscriptions routed through Stock Exchange(s) as applicable.
Please indicate if First / Sole Applicant is a first time investor across Mutual
Funds or an existing investor in the appropriate box provided for this purpose in
the online Application Form. The AMC/ Fund will endeavor to identify the investor
as “first time” or “existing” based on the Permanent Account Number (PAN) / PAN
Exempt KYC Reference No. (PEKRN) at the First / Sole Applicant level. If the PAN/
PEKRN details are available, then the First/ Sole Applicant will be treated as existing
investor (i.e. Rs.100/- will be deducted as Transaction Charge) else the declaration
in the online Application Form will be considered (i.e. Rs.150/- for first time
investors or Rs.100/- for other than first time investors will be deducted as Transaction
Charge, as applicable). However, if an investor has not provided any declaration,
he will be considered as an “existing” investor.
3. UNIT HOLDER INFORMATION
Name, address and contact details like telephone, mobile and email address must
be written in full. On successful validation of the investor’s PAN for KYC, the
address provided in the KYC/CKYC form will override the address mentioned in the
Online Application Form.
All communication and payments shall be made by the Fund in the name of and favouring
the first / sole applicant.
A. In accordance with SEBI Circular No. CIR/MIRSD/13/2013 dated December 26, 2013,
the additional details viz. Occupation details, Gross Annual Income/ Net-worth
and Politically Exposed Person (PEP)* status was initially forming part of uniform
KYC form will now be captured in the Online Application Form of the Fund. The said
details are mandatory for all investors.
*PEP are defined as individuals who are or have been entrusted with prominent public
functions in a foreign country, e.g., Heads of States or of Governments, senior
politicians, senior Government/judicial/ military officers, senior executives of
state owned corporations, important political party officials, etc.
B. Details under Foreign Account Tax Compliance Act (FATCA) / Common Reporting Standard
(CRS) / Foreign Laws:
Tax Regulations require the Fund / AMC to collect information about each investor’s
tax residency. In certain circumstances (including if the Fund / AMC do not receive
a valid self-certification from the investor), the Fund / AMC may be obliged to
share the investor’s account information with the relevant tax authority. For any
questions about tax residency, investors are advised to contact their respective
tax advisors. Further if the investor is a citizen or resident or green card holder
or tax resident other than India, investor(s) shall include all such countries in
the tax resident country information field along with the Tax Identification Number
or any other relevant reference ID/ Number in the prescribed forms. If there is
any change in the information provided, investor(s) shall promptly intimate the
same to the Fund / AMC within 30 days. FATCA/CRS due diligence will be directed
at each investor / Unit holder (including joint investor/ Unitholder) and on being
identified as a reportable person, all the folios will be reported. The AMC/Mutual
Fund reserves the right to reject any application/freeze any folio(s) held directly
or beneficially for transactions in the event the applicant/ Unitholder(s) fail
to furnish the relevant information and/or documentation in accordance with FATCA/CRS
provisions and as requested by the Fund/ AMC.
C. Who cannot invest?
The following persons/entities cannot invest in the Scheme:
1. Any individual who is a foreign national or any other entity that is not an Indian
resident under the Foreign Exchange Management Act, 1999 (FEMA Act) except where
registered with SEBI as a FPI or FII or sub account of FII or otherwise explicitly
permitted under FEMA Act/ by RBI/ by any other applicable authority;
2. Overseas Corporate Bodies (OCBs)
3. NRIs residing in Non-Compliant Countries and Territories (NCCTs) as determined
by the Financial Action Task Force (FATF), from time to time.
4. U.S. Persons (including NRIs and all persons residing in U.S, U.S Corporations
or other entities organised under the laws of U.S) and Residents of Canada.
If an existing Unit Holder(s) subsequently becomes a U.S. Person or Resident of
Canada, then such Unit Holder(s) will not be able to purchase any additional Units
in any of the Schemes of Mahindra Mutual Fund.
The Mutual Fund reserves the right to include/exclude new/existing categories of
investors to invest in the scheme(s) from time to time, subject to SEBI Regulations
and other prevailing statutory regulations, if any. The Mutual Fund / Trustee /
AMC may redeem Units of any Unitholder in the event it is found that the Unitholder
has submitted information either in the application or otherwise that is false,
misleading or incomplete or Units are held by any person in breach of the SEBI Regulations,
any law or requirements of any governmental, statutory authority.
D. Mode of Payment
i. Subscription Bank Account Details
An investor at the time of his/her purchase of units will be able to make Online
payment with only those banks with whom the AMC may have an arrangement from time
to time. The investor must provide the details of his / her pay-in bank account
(i.e. account from which a subscription payment is being made) in the Online Application
Form. The investor understands that the AMC engages the services of a Third Party
“Internet Payment Gateway” service provider for collection services i.e. for collection
of subscription money from the investor’s bank and remitting it to the Fund/Scheme’s
nominated bank account. As such, the AMC/Fund shall not be liable for any loss arising
or resulting from delay/failure in credit of funds in the Fund/Scheme collection
ii. NRIs, PIOs, OCIs
In the case of NRIs/PIOs/OCIs, payment shall be made from funds held in the NRE
/ FCNR in the case of Purchases on a repatriation basis or out of funds held in
the NRE / FCNR/ NRO account, in the case of Purchases on a non-repatriation basis.
4. BANK DETAILS
A. Pay-Out Bank Account Details (For redemption only):
In case of Online Subscription, an investor’s initial pay-in bank account details
will be captured as the default investor’s payout bank (i.e. account into which
redemption/ dividend proceeds will be paid).
AMC and/or its Registrar will endeavour to identify any “Third Party Payments”.
Further, in exceptional cases where Third Party Payments# [as stated below] are
accepted subject to submission of requisite documentation/declarations., the investor
is required to submit any one of the documentary proofs as stated in (i), (ii) and
(iii) below for the pay-out bank account.
(i) Cancelled original cheque leaf of the pay-out bank account (where the account
number and first applicant name is printed on the face of the cheque). Applicants
should without fail cancel the cheque and write ‘Cancelled’ on the face of it to
prevent any possible misuse;
(ii) Self attested copy of the bank pass book or a statement of bank account with
current entries not older than 3 months having the name and address of the first
applicant and account number;
(iii) A letter from the bank on its letterhead certifying that the applicant maintains
an account with the bank, the bank account information like bank account number,
bank branch, account type, the MICR code of the branch & IFSC Code (where available).
#Third Party Payments identified other than the exceptional cases mentioned below
will be treated as invalid and liable to be rejected.
i. Payment by Parents/Grand-Parents/Related Persons* on behalf of a minor in consideration
of natural love and affection or as gift for a value not exceeding Rs. 50,000 for
each regular purchase or per SIP installment (This limit of Rs. 50,000 shall not
be applicable for payment made by a Guardian (i.e. Father/Mother/Court Appointed
Legal Guardian) whose name is registered in the records of Mutual Fund in that folio.);
*‘Related Person’ means any person investing on behalf of a minor in consideration
of natural love and affection or as a gift.
ii. Payment by an Employer on behalf of employees under Systematic Investment Plans
(SIP) or lump sum / one-time subscription, through Payroll deductions or deductions
out of expense reimbursements;
iii. Custodian on behalf of an FII or a Client;
iv. Payment by a Corporate to its Agent/ Distributor/ Dealer (similar arrangement
with Principal agent relationship), on account of commission or incentive payable
for sale of its goods/services, in the form of the Mutual Fund Units through SIP
or lump sum / one-time subscription.
B. Multiple Bank Account Registration:
An investor may register multiple bank accounts (currently upto 5 for Individuals/HUF
and upto 10 for Non-Individuals) for receiving redemption proceeds etc. by providing
necessary documents and filling up of Multiple Bank Accounts Registration form in
C. Indian Financial System Code (IFSC)
IFSC is a 11 digit number given by some of the banks on the cheques. IFSC will help
to secure transfer of redemption via the various electronic mode of transfers that
are available with the banks.
5. INVESTMENT DETAILS
A. Regular Plan: This Plan is for investors who wish to route their investment through
B. Direct Plan: This Plan is for investors who wish to invest directly without routing
the investment through any distributor.
6. E-MAIL COMMUNICATION
The email address provided by the investor will be registered in our records and
will be treated as investor’s consent to receive, Allotment confirmations, Consolidated
Account Statement/ Account Statement, annual report/abridged summary and any statutory
/ other information as permitted via electronic mode /email. These documents shall
be sent physically in case the Unit holder opts/request for the same.
Should the Unit holder experience any difficulty in accessing the electronically
delivered documents, the Unit holder shall promptly intimate the Mutual Fund about
the same to enable the Mutual Fund to make the delivery through alternate means.
It is deemed that the Unit holder is aware of all security risks including possible
third party interception of the documents and contents of the documents becoming
known to third parties.
The AMC/Trustee reserve the right to send any communication in physical mode.
7. MODE OF PAYMENT OF REDEMPTION PROCEEDS - VIA DIRECT CREDIT / RTGS / NEFT
A. Real Time Gross Settlement (RTGS)/ National Electronic Funds Transfer (NEFT)
The AMC provides the facility of ‘Real Time Gross Settlement (RTGS)’ and ‘National
Electronic Funds Transfer (NEFT)’ offered by Reserve Bank of India (RBI), which
aims to provide credit of redemption and dividend payouts (if any) directly into
the bank account of the Unit holder maintained with the banks (participating in
the RTGS/ NEFT System).
NEFT is electronic fund transfer modes that operate on a deferred net settlement
(DNS) basis which settles transactions in batches. Contrary to this, in RTGS, transactions
are processed continuously throughout the RTGS business hours. The minimum amount
to be remitted through RTGS is Rs. 2 lakhs. There is no upper ceiling for RTGS transactions.
No minimum or maximum stipulation has been fixed for NEFT transactions.
Unit holders can check the list of banks participating in the RTGS / NEFT System
from the RBI website i.e. www.rbi.org. in or contact any of our Investor Service
Centres. However, in the event of the name of Unit holder’s bank not appearing in
the ‘List of Banks participating in RTGS/ NEFT updated on RBI website www.rbi.org.in,
from time to time, the instructions of the Unit holder for remittance of redemption/
dividend (if any) proceeds via RTGS / NEFT System will be discontinued by Fund/
AMC without prior notice to the Unit holder and the payouts of redemption/ dividend
(if any) proceeds shall be effected by sending the Unit holder(s) a cheque / demand
For more details on RTGS / NEFT or for frequently asked questions (FAQs) on RTGS
/ NEFT, Unit holders are advised to visit the RBI website www.rbi.org.in / or the
Fund website www.mahindramutualfund.com.
B. Payment to NRI Investors:
Payment to NRI / FII Unit holders will be subject to the relevant laws / guidelines
of the RBI as are applicable from time to time (also subject to deduction of tax
at source as applicable).
In the case of NRIs:
i. Credited to the NRI investor’s NRO account, where the payment for the purchase
of the Units redeemed was made out of funds held in NRO account; or
ii. Remitted abroad or at the NRI investor’s option, credited to his NRE / FCNR
/ NRO account, where the Units were purchased on repatriation basis and the payment
for the purchase of Units redeemed was made by inward remittance through normal
banking channels or out of funds held in NRE / FCNR account.
In the case of FIIs, the designated branch of the authorized dealer may allow remittance
of net sale / maturity proceeds (after payment of taxes) or credit the amount to
the Foreign Currency account or Non-resident Rupee account of the FII maintained
in accordance with the approval granted to it by the RBI.
The Fund will not be liable for any delays or for any loss on account of any exchange
fluctuations, while converting the rupee amount in foreign exchange in the case
of transactions with NRIs / FIIs. The Fund may make other arrangements for effecting
payment of redemption proceeds in future.
Unitholders are advised to opt for the NEFT / RTGS, as it helps in avoiding loss
of redemption warrant in transit or fraudulent encashment. Please update your IFSC
and MICR Code in order to get payouts via electronic mode in to your bank account.
The AMC / Fund shall not be held liable for any losses/ claims, etc. arising on
account of processing the direct credit or credit via RTGS/ NEFT of redemption proceeds
on the basis of Bank Account details as provided by the Unit holder in the online
However, if the Unit holders are not keen on availing of any of the said facilities
and prefer receiving cheques/ demand drafts, Unit holders shall intimate the AMC/Registrar
in writing indicating their preference. The AMC/Fund would then ensure that the
payouts are effected by sending the Unit holders a cheque / demand draft. In case
of unforeseen circumstances, the AMC/ Fund reserves the right to issue a cheque
/ demand draft.
Any charges levied by the investor’s bank for receiving payment through electronic
mode / outstation cheques / demand drafts will be borne by the investor. The Mutual
Fund / AMC will not accept any request for refund of such bank charges.
C. Mode of Payment for Unit holders holding Units in Demat form
Investors will receive their redemption proceeds directly into the bank account
linked to their demat account.
8. ELECTRONIC SERVICES
This facility enables the Unitholder to register an email address with the AMC for
receiving allotment confirmations, consolidated account statement / account statement,
annual report/ abridged summary thereof and/or any statutory / other information
as permitted by email.
B. SMS Alerts
This facility enables the Unit holder to receive SMS confirmations for purchase,
redemption or switch, dividend declaration details and other alerts.
Apart from above mentioned facilities, we offer the facility of payment of Redemption/
Dividend Proceeds if any, via Direct Credit / RTGS / NEFT.
Investors should opt for the nomination facility to avoid hassles and inconveniences
in case of unforeseen events in future. Through this facility the AMC is not in
any way attempting to grant any rights other than those granted by law to the nominee(s).
A nomination in respect of the Units does not create an interest in the property
after the death of the Unit holder. The nominee(s) shall receive the Units only
as an agent and trustee for the legal heirs or legatees of the deceased Unitholder
as the case may be.
Minor(s) can be nominated and in such cases, the name, address and signature of
the parent/ legal guardian representing such minor nominee(s) shall be provided
by the Unit holder.
Only the following categories of Indian Residents can be nominated: (a) individuals
(b) minors through parent/legal guardian (c) religious and charitable trusts and
(d) Central Government, State Government, a local authority or any person designated
by virtue of his office.
The Nominee shall not be a trust other than a religious or charitable trust, society,
body corporate, partnership firm, Karta of Hindu Undivided Family or a Power of
A non-resident Indian can be a Nominee subject to the exchange controls in force
from time to time.
The terms and conditions for registration of nominee(s) are as under-
i. Nomination by a Unit holder shall be applicable for all the investments in all
schemes held in a particular folio.
ii. Every new nomination for a folio will overwrite the existing nomination. Nomination
will be subject to the provisions of the respective Scheme Information Document.
iii. Nomination shall not be allowed in a folio held on behalf of a ”Minor” Unit
iv. Nomination shall be mandatory for all new singly held folios of individual investors.
Investors who do not wish to nominate are required to provide a separate declaration,
confirming their non-intention to nominate. In case nomination/non-intention to
nominate is not provided by sole holder, the application is liable to be rejected.
v. Nomination can be made for maximum number of three nominees. In case of multiple
nominees, the percentage of allocation/share in whole numbers and without decimals
in favour of each of the nominees should be indicated against the name of the nominees.
Such allocation/ share should total to 100 percent. In the event of the Unit holder(s)
fail to indicate the percentage of allocation/share for each of the nominees, the
Fund/ AMC, by invoking default option shall settle the claim equally amongst all
vi. In case of multiple nominees, on the death of one or more nominee, the transmission
of units shall be made in favour of the surviving nominee(s).
vii. Cancellation of nomination can be made only by those Unit holder(s) who hold
Units on their own behalf either singly or jointly and who made the original nomination.
On cancellation of nomination, the nomination shall stand rescinded and the Fund/
AMC shall not be under any obligation to transmit the Units in favour of the nominee(s).
viii. In case of investors opting to hold the Units in demat form, the nomination
details provided by the investor to the depository participant will be applicable.
ix. Transmission of units in favour of Nominee(s) shall be valid discharge by the
AMC against the legal heirs.
10. PERMANENT ACCOUNT NUMBER
SEBI has made it mandatory for all applicants (in the case of application in joint
names, each of the applicants) to mention the permanent account number (PAN) irrespective
of the amount of investment (except as given below). Where the applicant is a minor,
and does not possess his / her own PAN, he / she shall quote the PAN of his/ her
natural parent/legal guardian, as the case may be. However, PAN is not mandatory
in the case of Central Government, State Government entities and the officials appointed
by the courts e.g. Official liquidator, Court receiver etc (under the category of
Government) for transacting in the securities market. Also, investors residing in
the state of Sikkim are exempt from the mandatory requirement of PAN, subject to
provision of PAN Exempt KYC Reference Number (PEKRN) acknowledgement and the AMC
verifying the veracity of the claim of the investors that they are residents of
Sikkim, by collecting sufficient documentary evidence. PAN card copy is not required
separately if PAN-based KYC acknowledgement letter is made available. The Fund reserves
the right to ascertain the status of such entities with adequate supporting documents.
Applications not complying with the above requirement may not be accepted/processed.
For further details, please refer Section ‘Permanent Account Number’ under Statement
of Additional Information available on our website www.mahindramutualfund.com
PAN Exempt Investments
SEBI vide its circular dated July 24, 2012 has clarified that investments in mutual
funds schemes (including investments in SIPs) of upto Rs. 50,000 per investor per
year across all schemes of the Fund shall be exempt from the requirement of PAN.
Accordingly, individuals (including Joint Holders who are individuals, NRIs but
not PIOs, Minors) and Sole proprietary firms who do not possess a PAN (“Eligible
Investors”)* are exempt from submission of PAN for investments upto Rs.50,000/ -
in a rolling 12 month period or in a financial year i.e. April to March. However,
Eligible Investors are required to undergo Know Your Customer (KYC) procedure with
any of the SEBI registered KYC Registration Authorities (KRA). Eligible Investors
must quote PAN Exempt KYC Reference Number (PEKRN) issued by the KRA under the KYC
acknowledgement letter while creating folio online. In case the applicant is a minor,
PAN /PEKRN details of the Guardian shall be submitted, as applicable. Eligible Investors
(i.e. the First Holder) must not possess a PAN at the time of submission of online
Eligible investors must hold only one PEKRN issued by any one of the KRAs. If an
application for investment together within investments made in a rolling 12 month
period or in a financial year exceeds Rs.50,000/-, such an application will be rejected.
Fresh / Additional Purchase and Systematic Investment Plans will be covered in the
limit of Rs.50,000/-. Investors may switch their investments to other Schemes. However,
if the amount per switch transaction is Rs.50,000/- or more, in accordance with
the extant Income Tax rules, investors will be required to furnish a copy of PAN
to the Fund.
The detailed procedures / requirements for accepting applications shall be as specified
by the AMC / Trustee from time to time and their decision in this behalf will be
final and binding.
*HUFs and other categories are not eligible for such investments.
11. PREVENTION OF MONEY LAUNDERING
SEBI vide its circular reference number ISD/CIR/ RR/AML/1/06 dated January 18, 2006
and other circulars issued from time to time, mandated that all intermediaries including
mutual funds should formulate and implement a proper policy framework as per the
guidelines on anti money laundering measures and also to adopt a Know Your Customer
The Investor(s) should ensure that the amount invested in the scheme(s) is through
legitimate sources only and does not involve and is not designated for the purpose
of any contravention or evasion of the provisions of the Income Tax Act, Prevention
of Money Laundering Act (PMLA), Prevention of Corruption Act and/ or any other applicable
law in force and also any laws enacted by the Government of India from to time or
any rules, regulations, notifications or directions issued thereunder.
To ensure appropriate identification of the Investor(s) and with a view to monitor
transactions for the prevention of money laundering, the Fund / AMC reserves the
right to seek information, record investor’s telephonic calls and or obtain and
retain documentation for establishing the identity of the Investor(s), their beneficial
ownership, proof of residence, source of funds, etc. It may re-verify identity and
obtain any incomplete or additional information for this purpose.
The Fund, AMC, Mahindra Trustee Company Private Limited (“Trustee”) and their Directors,
employees and agents shall not be liable in any manner for any claims arising whatsoever
on account of freezing the folios/rejection of any application / allotment of Units
or mandatory redemption of Units due to non compliance with the provisions of PMLA,
SEBI/ AMFI circular(s) and KYC policy and / or where the AMC believes that transaction
is suspicious in nature within the purview of the PMLA and SEBI/AMFI circular(s)
and reporting the same to FIU-IND.
Kindly enter the 4-digit OTP sent on your registered contact details.
Looks like your PAN is not KYC compliant but you can fix this!
We can’t send you an OTP as your mobile number or email ID is not linked to your PAN.
Kindly download the form and submit to your nearest branch.
We were trying to fetch your KYC status but the request was timed out.
Please try again in some time.
If you still face this issue, do get in touch with our customer service team.
I/We am/are not prohibited from accessing capital markets under any order/ruling/judgment etc., of any regulation, including SEBI. I/We confirm that my application is in compliance with applicable Indian and foreign laws. I / We hereby confirm and declare as under:-
(1) I / We agree to read, understand and agree to comply with the terms and conditions of the scheme related documents (i.e. Scheme Information Document, Statement of Additional Information and Key Information Memorandum) and online facility, before applying for allotment of Units of the scheme(s) of Mahindra Mutual Fund ('the Fund').
(2) I/We understand and acknowledge that the Fund / AMC reserves the right to modify, alter and/or amend, any of the terms of the online facility, at its sole discretion. I/We undertake to bind myself / ourselves [and continue to be so bound] by the terms of the online facility, unless the same be modified, altered and/or amended. In the event that the terms of the facility are so modified, altered and/or amended, I/We understand that, I/We shall not be permitted to proceedwith the use of the facility unless I/We agree to such modified, altered and/or amended terms (as the case may be).
(3) For online transactions, server time of the registrar/AMC at the instance of confirmation of the transaction will be considered as the final time to determine the transaction time. Such transactions will get processed at the Applicable NAV based on the cut off time and other parameters indicated in the SID/ SAI of the respective scheme/s. Any request for subscription to Units made on a non-Business Day will be processed on the next Business Day and respective NAV would be applicable as per the terms of the Offer Documents of the respective scheme’s; Further, the Units will be created based on the credit receipt in the relevant scheme’s bank account and not based on the date of debit from the bank account of the User. Users may note that there may be a time lag between the time a transaction is completed and before it appears on your account information. Please note that, due to payment gateway tie-ups, the funds of the User may be available to the Fund after a time lag.
(4) The SIP Auto Debit shall start from the selected “Start” date mentioned by the investor, subject to completion of successful SIP Auto Debit mandate verification and registration formalities at least 10 calendar days prior to the “Start” date specified in the debit mandate form.
(5) I / We agree that if I/we do not register SIP at my/our bank site within 15 calendar days using the URN provided by this site or register incorrectly, the Fund has the right to cancel the SIP registration without any notice to me/us. I/we will not hold the Fund or the AMC, its registrars and other service providers responsible if the registration and subsequent transaction are delayed or not effected or the User's bank account is debited in advance or after the specific SIP date due to local holidays or any other reason.
(6) I/We am/are eligible Investor(s) as per the scheme related documents and am/are authorised to make investments in mutual fund units as per the Constitutive documents/ authorization(s). I / We hereby confirm that the amount invested / to be invested in the scheme(s) of the Fund is derived through legitimate sources only and is not held or designed for the purpose of contravention of any Act, Rules, Regulations or any statute or legislation or any other applicable laws or any Notifications, Directives of the provisions of the Income Tax Act, Anti Money Laundering Laws, Anti Corruption Laws or any other applicable laws enacted by the Government of India from time to time. In event “Know Your Customer” process is not completed by me/us to the satisfaction of the Fund, I/we hereby authorize the Fund, to redeem the funds invested, if any, in the scheme(s) of the Fund, in favour of the applicant, at the applicable NAV prevailing on the date of such redemption and undertake such other action with such funds that may be required by the law.
(7) I/We understand that opening a zero balance account (if applicable), is not an incentive from the Fund for purchasing units of any schemes offered by it at a future date. I / We have not received nor have been induced by any rebate or gifts, directly or indirectly, for opening this account or in making any investment.
(8) In case of Redemption/Switch-out request, if valid, shall be processed post deduction of exit load, if any, applicable.
(9) The information given in / with this form is true and correct and I/ We further agree to furnish such other further/additional information as may be required by the Mahindra Asset Management Company Private Limited (AMC) / the Fund and undertake to inform the AMC/the Fund/Registrars and Transfer Agent (RTA) in writing about any change in the information furnished from time to time.
(10) That in the event, the above information and/or any part of it is/are found to be false/untrue/misleading, I/We will be liable for the consequences arising therefrom.
(11) I/We hereby authorize you to disclose, share, remit in any form/manner/mode the above information and/or any part of it including the changes/updates that may be provided by me/us to the Fund, its Sponsor/s, Trustees, AMC, its employees, agents and third party service providers, SEBI registered intermediaries for single updation/ submission, any Indian or foreign statutory, regulatory, judicial, quasi- judicial authorities/agencies including but not limited to Financial Intelligence Unit-India (FIU-IND) etc without any intimation/advice to me/us.
(12) If any transaction is delayed or not effected at all for reasons of incomplete or incorrect information, I/We would not hold the AMC / the Fund, their appointed service providers or representatives responsible. I/We will indemnify the Fund, AMC, Trustee, RTA and other intermediaries in case of any dispute regarding the eligibility, validity and authorization of my/our transactions.
(13) The ARN holder (AMFI registered Distributor) has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to him/them for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us.
(14) I/We do not have any existing Micro Investments which together with any Micro Investment application will result in aggregate investments exceeding Rs. 50,000/- in a year (applicable to Micro Investment investors only).
(15) I / We confirm that I / We are not United States person(s) under the laws of United States or residents(s) of Canada as defined under the applicable laws of Canada.
(16) I/WE HEREBY CONFIRM THAT I/WE HAVE NOT BEEN OFFERED/ COMMUNICATED ANY INDICATIVE PORTFOLIO AND/OR ANY INDICATIVE YIELD BY THE FUND/AMC/ITS DISTRIBUTOR FOR ANY INVESTMENT.
FATCA Declaration: I/we hereby confirm that the information provided here in above is true, correct and complete to the best of my/our knowledge and belief and that I/we shall be solely liable and responsible for the information submitted above. I/we also confirm that I/we have read and understood the FATCA & CRS Terms and Conditions below and hereby accept the same. I/we also undertake to keep you informed in writing about any changes / modification to the above information in future within 30 days of the same being effective and also undertake to provide any other additional information as may be required any intermediary or by domestic or overseas regulators / tax authorities.
Applicable to NRIs only: I / We confirm that I am / we are Non-Residents of Indian Nationality / Origin and that the funds are remitted from abroad through approved banking channels or from my / our NRE / NRO / FCNR Account. I / We confirm that the details provided by me / us are true and correct.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
These terms and conditions (“Terms and Conditions”) govern the Online facility (‘Facility/Online
Facility’) being offered by Mahindra Asset Management Company Private Limited (“MAMCPL”/
“AMC””) to the User of the Facility (“the User”) through its Website www.mahindramutualfund.com
(“the Website”). The Terms and Conditions together with the Disclaimer, Privacy
Policy, Offer Documents (Statement of Additional Information, Scheme Information
Document and Key Information Memorandum of the scheme(s) of Mahindra Mutual Fund
(“the Fund”)), online registration form, online transaction form and any other documents,
as specified by MAMCPL from time to time, form a binding contract between the User
and MAMCPL/ the Fund. Online Facility shall mean the online platform provided by
MAMCPL to eligible Users for availing the list of facilities and services as explained
hereinafter in Clause 3.1 of these Terms and Conditions;
The User is requested to read the contents of these Terms and Conditions carefully
before registering and/or undertaking use of the Facility. The User acknowledges
that he/she has read and understood these Terms and Conditions and unconditionally
agrees and assents to be legally bound by the Terms and Conditions by availing the
Online Facility. The User undertakes that he/she is eligible and competent to enter
into such a binding contract with MAMCPL/ the Fund as per applicable Laws. The User
agrees that he/she is according his/her free consent, without any coercion, to register
for the Online Facility.
The User's use of the Online Facility is governed by the version of the Terms and
Conditions in effect on the date this Facility as accessed by the User. MAMCPL reserves
the right to change the Facility and the Terms and Conditions at any time, without
notice. If the User uses this Facility after the amended Terms and Conditions have
been posted, the User will be deemed to have agreed to the Terms and Conditions,
as amended. Changes in these Terms will be effective when such change / updated
terms are posted. User's continued use of this Facility after any changes to these
terms are posted will be considered acceptance of those changes. The User is bound
by any such revisions and should therefore periodically visit this page to review
the then current terms and conditions to which the User is bound.
The Online Facility is being provided by MAMCPL/the Fund at its sole discretion
in order to facilitate electronic transactions for the Users. However, MAMCPL/the
Fund is not bound or obliged in any way to offer or continue to provide the Online
Facility to the Users. The User also acknowledges that an application for the Online
Facility does not imply automatic acceptance by MAMCPL. MAMCPL / the Fund reserves
the right to withdraw the Online Facility or one or more services/facilities offered
through the Online Facility or online access to the Users, at any stage, without
any notice or liability.
All capitalised terms used but not defined herein shall have the meaning ascribed
to them under the Offer Documents or such other documents which are referenced herein.
1. Information for Investors not Authorized to use this Online Facility,
This Online Facility is intended solely for the use of Resident Indian(s), permitted
Non-Resident Indians, persons of Indian Origin, and Foreign Investors and other
investors, permitted to invest in mutual funds and services offered by MAMCPL, as
per prevailing laws & regulation established by SEBI & other regulatory bodies/
authorities and disclosure(s) made in the Scheme Information Document of the schemes
of the Fund. Nothing on this Online Facility shall be considered a solicitation
to buy or an offer to sell a security, or any other product or service, to any person
in any jurisdiction where such solicitation, offer, purchase or sale would be unlawful
under the laws of that jurisdiction.
2. Conditions for availing Online Facility
2.1. The Online Facility is presently available only to the individual investors
to transact in the schemes of the Fund.
2.2. MAMCPL may subsequently extend the Online Facility to other categories of Users
or restrict existing categories of Users, at its sole discretion.
2.3. MAMCPL / the Fund may at its sole discretion restrict the Online Facility to
only a particular set or class of Users or block a folio for future or further dealings.
Neither MAMCPL nor the Fund shall be held liable or responsible for not making the
Online Facility available to any particular User or certain categories, classes
or sets of Users.
2.4. In order to access the Online Facility, the User is compulsorily required to
have completed all prescribed KYC requirements with the KYC Registration Agency
as per the SEBI KYC (Know Your Client) Registration Agency Regulations, 2011 and/OR
the SEBI Circular dated October 8, 2013 for Aadhar based e-KYC and/or any other
KYC requirements as may be specified by SEBI/AMFI/other Regulatory/Government authorities
from time to time.
2.5. The investor availing the Online Facility of account opening authorises the
AMC and/or its Registrar and Transfer Agent to import his signature from the KRA
feed / feed file(s) received from any other KYC registration authorities appointed
by the regulatory / government authorities and store the same for handling physical
transaction requests, if any, subsequently submitted by the investor. Signature(s)
received from the KRA would be considered as valid for verifying signature(s) against
a physical transaction.
2.6. In case signature received from KRA/ other KYC registration authority(ies)
is unclear or is unavailable in the feed, a hold will be marked on the units and
intimation will be sent to the investor/s to submit signatures in physical, at the
earliest. Unless the same is received, the folio will be frozen for all financial
transactions and the AMC shall not be liable or responsible for any loss or damages
of whatsoever nature arising to the investor on account of freeze of the units for
want of signature. In case of non receipt of the relevant documents within specified
30 days period, system will trigger an auto redemption at applicable NAV with exit
load, if any.
2.7. If during subsequent back office verification process, it is ascertained that
the payment has been received from a third party account, the relevant units against
the purchase will be reversed and refund proceeds will be remitted to the bank account
from which the funds were received, as confirmed by the payment gateway service
2.8. In case the bankers fail to provide the account no, an intimation would be
sent to the investor to submit the correct account no. with proof of payment toward
purchase. Till such time, the refund remittance will be kept on hold
2.9. The User shall ensure that the pay-out bank account details / bank mandate
details are correctly provided while creating the folio using the Online Facility.
The AMC shall not be liable in case the redemption/dividend proceeds are sent to
an incorrect bank account due to incorrect bank details provided by the User in
3. Services offered under Online Facility
3.1. The services offered by MAMCPL on www.mahindramutualfund.com (“the Website”)
through the Online Facility are being offered, subject to the Disclaimers mentioned
on the Website, as an additional facility to the Users and is not in substitution
of other facilities being provided by MAMCPL/the Fund. These services are over and
above the facilities that MAMCPL provides through its official point of acceptance
/ investor service centres. MAMCPL reserves the right to include or exclude any
services from time to time or even discontinue the Online Facility, as it may deem
fit in its absolute discretion. The User agree and understand that the scope of
services provided by MAMCPL at any point of time would be as made available in the
Online Facility at the time of access by the User. MAMCPL may, at its sole discretion,
also block certain type of transactions from the Online Facility, for one or more
3.2. The User may avail of Online Facility for any of the following services that
are being presently offered by the AMC:
a) Subscription and Additional Subscription to various schemes of the Fund including
any new schemes launched by the Fund from time to time and which are tagged with
the existing Schemes by the Fund for the purpose of conducting such online transactions.
b) Switching between schemes / plan / options, as permitted. The cutoff timings for switch options for online transaction through Mahindra mutual fund website is kept at 2.45 PM.
c) Redemption of units.
d) Special products (as and when offered by AMC through online facility)
e) Downloading Account Statements
3.3. The User hereby agrees and confirms that the services mentioned hereinabove
in clause 3.2. are only an inclusive list, and the AMC may add or remove any services
it may in its absolute discretion decide, which services the Unitholder may use
the online Facility to access and utilise.
3.4. The AMC reserves the right to make the Online Facility available for such Schemes
and investors as it deems appropriate, and neither the AMC nor the Fund or any of
their Affiliates shall be held responsible or liable for not making the said Facility
available for such other Scheme or Unitholder.
3.5. The services through the Online Facility are available to only those Users
availing them through the Website. The Online Facility is not available to Users
attempting to transact with MAMCPL through any third party websites, unless the
Users using such third party websites specifically register on the Website of MAMCPL.
3.6. Currently, the Users are not permitted to transact in Folios/Units in dematerialized
form through the Online Facility. If the User wishes to transact the Folios/Units
in dematerialised form, he/she shall be required to submit a physical form. Please
note that the ‘demat’ option remains available for all purchases concluded in physical
3.7. If the User applies for subscription of Units using online and physical application
forms, then MAMCPL shall treat them as two separate transaction requests and the
applications shall be processed accordingly.
3.8. MAMCPL may, in its absolute discretion and in the User’s interest, request
a fax/written confirmation signed by the User of any Electronic Instructions given
by such User, as well as request for any additional information that MAMCPL may
require. In such case, MAMCPL shall not be bound to act on any Electronic Instructions
received until such fax/written confirmation and/or additional information is received,
in a form and manner acceptable to MAMCPL. However, MAMCPL shall have no obligation
to check or verify the authenticity or accuracy of the fax/written confirmations
purporting to have been sent by the User, and may act thereon as if the same had
been duly given.
3.9. Any allotment of Units shall be subject to receipt and realization of payment,
receipt of physical documents, fax or scanned copies or additional information,
if so requested by MAMCPL/the Fund, within the timelines and in a manner as prescribed
by MAMCPL/the Fund. All details as may be requested by MAMCPL from time to time
for availing any of the Online Facility are mandatory. MAMCPL shall not be bound
to act on any Electronic Instructions received, until receipt of such documents,
fax confirmation, copies and/or additional information requested is received by
MAMCPL, to its satisfaction. If these requirements are not fulfilled, MAMCPL/the
Fund reserves the right to reject the application and refund the amount, or in case
Units have been allotted, freeze the folio or redeem the Units at applicable NAV
without any liability or responsibility for any loss or damage suffered by the User.
4. Privacy, security and confidentiality of information
by reference in these Terms and Conditions. The User agrees to comply with the terms
4.2. The User agrees that the data provided by him/her pursuant to his/her online
transactions and dealings with MAMCPL may be shared by MAMCPL with his/her authorised
agents, representatives, affiliates, group companies and subsidiaries/service providers.
MAMCPL undertakes to not use or divulge the personal or sensitive personal data
or information for any purpose other than for providing the services contemplated
under the Online Facility or any other ancillary or incidental facilities hereto.
The User further agrees that MAMCPL may disclose in strict confidence his/her personal
information as may be reasonably necessary for reasons including, but not limited
to: (a) compliance with applicable Laws; (b) prevention, detection or investigation
of fraud; and (c) statutory reporting.
4.3. In order to prevent unauthorized access, MAMCPL may lock/block the User if
it detects any suspicious activity. Further, to prevent unauthorized access to the
User’s account, MAMCPL may ask additional information before granting the access
to the User and/or for making online transactions.
4.4. For security reasons, MAMCPL reserves the right to request the User to create
a new account with a different login detail, without assigning any reason whatsoever.
4.5. Apart from the existing security measures, MAMCPL shall be entitled to introduce
such other security protocols, security practices and requirements from time to
time which shall be binding on the User.
4.6. The User shall treat all data obtained from MAMCPL including the folio numbers,
transaction details, etc. as confidential and shall take adequate measures to ensure
the security of such confidential information. MAMCPL and/or the Fund shall not
be responsible in case the confidential information is wrongfully accessed or used
by a third party.
4.7. MAMCPL agrees to take reasonable steps, on a best efforts basis to ensure confidentiality,
continuity and security for availing Online Facility through the Website without
providing any guarantee or warranty regarding the same.
4.8. MAMCPL shall by default be entitled to market any scheme related information
or data to any User. The User may choose to unsubscribe from receiving such marketing
material through that particular mode, once they are in receipt of the same.
5. USER-ID, PASSWORD AND ONE TIME PASSWORD (OTP)
5.1. The User may create a username/user-id and password using the online portal
of MAMCPL to avail various services through Online Facility offered by MAMCPL from
time to time.
5.2. The User may use the username and password to carry out one or more of the
various types of transactions using the Online Facility like purchase, redemption,
switch, including any other services or facilities which the AMC may decide to offer
or permit, from time to time, by logging on the online portal of MAMCPL.
5.3. The User should ensure that important details like his/her mobile number, email
id, PAN, date of birth are correctly updated in their folio. The User hereby acknowledges
the fact that in case any of these information are not updated correctly then the
password protection may be compromised and MAMCPL/Fund shall not be liable or responsible
for any losses/claim arising thereof.
5.4. It shall be the sole responsibility of the User to ensure adequate protection
and confidentiality of the username /password/OTP and any disclosure thereof to
any other person shall be entirely at the risk of the User.
5.5. The User agrees to notify MAMCPL immediately if the password and OTP is lost
or stolen or if the User is aware that another unauthorized person is privy to or
has used the OTP or it is suspected that the OTP has been tampered with. On receiving
such notification from User, MAMCPL may issue a new OTP.
5.6. The User agrees to update change, if any, in the aforesaid information in the
records of KYC registration agency(ies) and MAMCPL on immediate basis. MAMCPL reserves
the sole discretion to decide the mobile number/email id of the User where the OTP
shall be delivered. MAMCPL shall not be liable in case the details are sent to an
incorrect mobile number/email id due to an incorrect mobile number/email id provided
by the User in the folio/KRA database.
5.7. In consideration of MAMCPL providing the User with Online Facility, the Unit
Holder shall, at his own expenses, indemnify and hold the AMC/Registrar indemnified
against all losses and expenses on full indemnity basis which the AMC/Registrar
may incur, sustain or is likely to suffer in connection with MAMCPL/ Registrar's
execution of the Unit Holder's instruction and against all losses/expenses/damages/cost/charges
and action taken or omitted to be taken by the MAMCPL/Registrar, on the instructions
of the Unit Holder.
6. Other terms and conditions
6.1. The information provided to the Unit Holder through the electronic mode may
not be updated continuously but in regular intervals. Consequently, any information
supplied to the User through the electronic mode will pertain to the date and time
when it was last updated and not as the date and time when it is supplied to the
Unit Holder. There may be a time lag in the updation of information on the electronic
platform. The AMC/Registrar shall not be liable for any loss that the Unit older
may suffer by relying on or acting on such information.
6.2. The instructions/transactions requested via electronic mode, shall be executed
only when the instruction/transaction is in accordance with the prescribed procedures.
MAMCPL/Registrar has no obligation to verify the authenticity of any transaction/instruction
received or purported to have been received from the User/Unit Holder. Where MAMCPL/Registrar
considers the instruction(s) to be inconsistent or contradictory it may seek clarification
from the User/Unit Holder acting on any instruction(s) or act upon any such instruction
as it deems fit. The User/Unit Holder is responsible for the correctness of information
supplied to MAMCPL/Registrar using electronic mode and MAMCPL/Registrar accepts
no liability for the consequences arising out of erroneous information supplied
by the Unit Holder.
6.3. If any User chooses to access/use the Online Facility from locations outside
India, the User does so at his own risk and shall be solely responsible for compliance
with all applicable laws in force in such locations.
6.4. The User shall not avail any online services through the Online Facility in
a manner contrary to applicable Laws. The User shall be bound by all the provisions
and notifications issued by SEBI, the requirements under Information Technology
Act 2000 or those specified to any other regulatory body.
6.5. Pursuant to these Terms and Conditions, the User unconditionally authorizes
MAMCPL, its officers, affiliates and authorized representatives to effectuate all
transaction requests through the Online Facility.
6.6. The User’s use of the Online Facility may involve the transmission of information,
including personally identifiable data, about the User. The User consents to the
transmission of such information by electronic means through the Internet and represent
that such consent shall be effective each time the User uses the Online Facility/
services offered by the AMC.
6.7. By providing relevant personal details for availing services online through
the Online Facility, the User is providing his/her consent to map the folios where
the User is a first holder or a guardian in a minor folio. However, the online mapping
services will not cover Units which are held in dematerialized form.
6.8. In the event of a folio opened online, the User acknowledges that MAMCPL and
its authorised representatives shall process subsequent financial as well as non-financial
transaction requests in that folio, if any, received in physical mode on the basis
of signatures of User made available by SEBI registered KYC registration agency/
other KYC registration authority(ies).
6.9. Mode of operation
Single Holding Currently, the facility is available only for ‘Single’ holding Users.
On behalf of Minor In case the User is a ‘minor’, the legal/natural guardian shall
be eligible to avail the facility till the minor attains majority. The natural/legal
guardian of the minor hereby agrees to submit such details as may be specified by
MAMCPL from time to time.
6.10. The User authorises MAMCPL and its authorised representatives to use the information
/ details (including wet signatures) of the User captured from the records of KYC
registration agency(ies) by MAMCPL for opening of the investor folio for processing
any transaction submitted by User physically or any other mode.
6.11. The User understands that in making payment for subscribing to Units through
a payment gateway, MAMCPL and/or the Fund shall not be liable for any failures in
the link or for any fraud at the payment gateway's end or the bank's end at the
time of making such payment. The User agrees that it is her/his responsibility to
intimate MAMCPL and/or the Fund immediately in case his/her bank account is debited
but the corresponding Units are not allotted.
6.12. The User agrees that if he/she notices any error in the account information
or statement supplied by MAMCPL, the User shall advise MAMCPL of the same as soon
as possible. MAMCPL shall endeavor to correct the error. While MAMCPL shall take
all reasonable efforts to ensure the accuracy of the account statement, it shall
in no event be liable for any error. The User agrees that he/she shall hold MAMCPL
harmless against any loss, damages etc. that may be incurred or suffered by the
User, if the information contained in the above said outputs turns out to be inaccurate
6.13. The User shall ensure availability of clear funds in his/her respective bank
account, at the time of requesting a purchase of Units using the Online Facility
and at the time of debit of funds from the bank account of the User.
6.14. MAMCPL shall, on a best efforts basis, attempt to keep the Website updated
to ensure that the User has access to updated information.
6.15. MAMCPL is at liberty to sub-contract and employ agents to carry out its obligations
under these Terms and Conditions.
6.16. The User agrees that MAMCPL is currently permitting the online transactions
without any charge but MAMCPL, subject to applicable Laws, reserves the right to
levy any fee or charge as it may deem fit at time in the future without requiring
the prior consent of the User. The Fund however is entitled to charge the exit load
or any other fees in accordance with the provisions of the Offer Documents.
6.17. The User acknowledges that he/she is using the Online Facility at his/her
sole risk. The risks relating to the use of the Website include amongst others,
internet frauds and technology risks. The risks relating to the use of internet
and the Online Facility inter alia include the following:
(a) Internet frauds: The internet per se is susceptible to a number of frauds, misuse,
hacking and other actions, which could affect the Electronic Instructions to MAMCPL.
Whilst MAMCPL shall aim to provide security to prevent the same, there cannot be
any guarantee from such Internet frauds, hacking and other actions that could affect
the Electronic Instructions to MAMCPL; and
(b) Technology risks: The technology for enabling the Online Facility provided by
MAMCPL could be affected by virus or other malicious, destructive or corrupting
code, programme or macro or any other reasons not attributable to MAMCPL. It may
also be possible that the Online Facility of MAMCPL may require maintenance and
during such times it may not be possible to process the request of the investor/User.
This could result in delays in the processing of instructions or failure in processing
of instructions and other such failures and inability. The User understands that
MAMCPL disclaims all or any liability, whether direct or indirect, whether arising
out of loss of profit or otherwise arising out of any failure or inability of MAMCPL
to honor any instruction for whatsoever reason. The User accepts that MAMCPL shall
not be responsible for any of the aforesaid risks.
6.18. The User agrees and acknowledges that delay, forbearance or failure on MAMCPL’s
part to act or exercise any right, entitlement under these Terms and Conditions
shall neither operate as a waiver of such right, entitlement nor shall any single
or partial exercise of such right or entitlement, preclude further exercise of such
right or entitlement.
6.19. The User agrees that he/she shall not use or permit the Online Facility or
any related service for any illegal or improper purposes.
6.20. Through this facility the User can receive documents viz. account statements,
fund updates etc. by email to the email address provided by the User to MAMCPL.
MAMCPL shall not be liable in case details are sent to an incorrect email ID due
to an incorrect email ID provided by the User.
6.21. Through this facility the User can receive account statements on the mobile
numbers provided by the User and can also avail of SMS confirmations every time
the User transacts with the Fund. The AMC shall not be liable incase details are
sent to an incorrect mobile number due to an incorrect mobile number provided by
7. No investment recommendations or professional advice; use of tools:
This Online Facility is not intended to provide any tax, legal, insurance or investment
advice, and nothing on the Website should be construed as a recommendation, by AMC
or any third party, to acquire or dispose off any investment or security, or to
engage in any investment strategy or transaction. Unless otherwise specified, the
User alone is solely responsible for determining whether any investment, security
or strategy or any other product or service, is appropriate or suitable for the
User based on his/ her/ its investment objectives and personal and financial situation.
The User should consult a legal or tax professional regarding his/ her/ its specific
legal or tax situation.
Information other than that relating specifically to MAMCPL, the Fund and its products/services,
is for information purposes only and should not be relied upon as a basis for investment
decisions. MAMCPL shall not be responsible for any information contained in any
website linked from the Website. MAMCPL makes no representations whatsoever about
any such website which the User may access through this Online Facility. The AMC
employs the best methods to keep the Website updated and to ensure accuracy of information/data
on the Online Facility. However, the information, products, and services included
on the Website may include inaccuracies or typographical errors. Changes are periodically
added to the information herein. It is the User’s responsibility to evaluate the
accuracy, completeness and usefulness of any opinions, advice, services or other
All information contained on any page set up by MAMCPL is distributed with the understanding
that the authors, publishers and distributors are not rendering legal, accounting
or other professional advice or opinions on specific facts or matters and accordingly
assume no liability whatsoever in connection with its use. The User is advised to
consult his/her own legal or tax advisor with respect to his/her personal situation.
In no event shall the AMC, its staff / directors and AMC’s related, affiliated and
group companies / entities be liable for any direct, indirect, special, incidental
or consequential damages arising out of the use of the Website and information therein.
8. Disclaimers, limitation of liability and warranties
8.1. The Disclaimers, including any amendments or modifications thereto, made from
time to time, as currently available at http://www.mahindramutualfund.com/Disclaimer
are incorporated by reference in these Terms and Conditions. The User availing the
Online Facility agrees to comply with the Disclaimers as available at the Website.
8.2. While MAMCPL and the Fund have taken reasonable steps to ensure the accuracy,
security and confidentiality of data and information made available in electronic
mode, MAMCPL or the Fund shall not be held responsible for any consequence of any
action carried out by the User or any unauthorized person as a result of breach
of the Fund http://www.mahindramutualfund.com/Privacy-Policy.
8.3. MAMCPL does not provide any express or implied warranty in relation to the
(a) that the Online Facility and the access to the Website will be continuous, defect
free, uninterrupted or free from errors or that any identified defect will be corrected
(b) that the information on the Website will be updated continuously, or on a real
(c) that the software, operating system and/or hardware installed by MAMCPL for
running the Online Facility are free from any virus or other malicious, destructive
or corrupting code, program;
(d) that the services and Online Facility will be of a satisfactory quality or fitness
at all times for the User; or
(e) non-infringement of any third party rights.
8.4. The User warrants that the information furnished to MAMCPL including data in
the online application form, transaction form and all other documents submitted
by him/her are true and correct. The User acknowledges that that the responsibility
for the accuracy and veracity of information provided in the online application
form solely rests with the User and MAMCPL will not be responsible or liable for
any loss, claims, liability that may arise on account of any incorrect and/or erroneous
data/information supplied by the User in the online application form.
8.5. MAMCPL, the Fund or Trustees to the Fund shall not be liable for any direct
or indirect loss or damage or other consequences, suffered or incurred by the User
or any third parties on account of:
(a) disruption or non-availability of the Online Facility and/or one or more facilities/services
through the Online Facility in the desired manner for reasons including but not
limited to natural calamity, floods, fire and other natural disasters, legal restraints,
periodic maintenance of servers, technical fault/error or virus, any failure of
the service provider, failure in telecommunication network or any software or hardware
systems, loss or corruption of data, mobile device failure or malfunctioning or
any other reason beyond the control of MAMCPL;
(b) shortcomings or deficiencies in the software, operating system or hardware installed
or used by the User to access the Website or avail the Online Facility;
(c) incorrect, incomplete, erroneous, false or misleading information furnished
by the User for availing the Online Facility;
(d) any online transaction carried out in good faith by MAMCPL based on Electronic
Instructions of the User;
(e) any unauthorized usage/unauthorized online transactions concluded by using the
(f) any error, defect, failure or interruption in the provision of the Online Facility;
(g) any negligence/mistake or misconduct by the User and/or for any breach or non
compliance by the User of the provisions of the Offer Documents or any other instructions
provided by MAMCPL;
(h) not carrying out any such Electronic Instructions where the MAMCPL/RTA has reason
to believe (which decision of MAMCPL/RTA, the User shall not question or dispute)
that the Electronic Instructions given are not genuine or are otherwise improper,
vague or raise a doubt;
(i) carrying out a transaction after such reasonable verification as MAMCPL/RTA
may deem fit regarding the identity of the User; and
(j) non-compliance with the Terms and Conditions.
8.6. The User agrees that MAMCPL shall not be liable for any loss caused through
a fall or decline in value of investments (including, without limitation, on account
of delays during the process of verifying the User’s identity in compliance with
anti-money laundering regulations).
8.7. Where MAMCPL/the Fund determines, discovers or finds, that the KYC requirements
are incomplete, any other information furnished by the User is false, incomplete,
misleading, incorrect, ambiguous, invalid, incomplete or erroneous, MAMCPL/the Fund
reserves the right to, at its sole discretion, reject the application, allotment
of Units and refund the amount or in case Units have been allotted, freeze the folio
or redeem the Units at applicable NAV without any liability or responsibility for
any loss or damages suffered by the User. MAMCPL also reserves the right to call
for any additional information from the User in order to fulfil the requirements
of PMLA norms prescribed by SEBI/PMLA Regulations from time to time. The User agrees
that the decision of MAMCPL in such a situation shall be final and binding on the
8.8. The User agrees that he/she shall be liable for the losses/consequences, arising
from any unauthorized transactions through the Website, breach of conditions herein
or by negligent actions such as the following:
(a) keeping a written or electronic record of the password;
(b) disclosing or failing to take all reasonable steps to prevent disclosure of
the password to anyone and/or failing to advise MAMCPL of such disclosure within
(c) not advising MAMCPL within a reasonable time about unauthorized access to or
erroneous transactions in his account.
8.9. MAMCPL shall under no circumstance be liable for any damages whatsoever whether
such damages are direct, indirect, incidental, consequential and irrespective of
whether any claim is based on loss of revenue, investment, production, goodwill,
profit, interruption of business or any other loss or any character or nature whatsoever
and whether sustained by the User or for any reason whatsoever.
MAMCPL/ RTA shall not take any liability or responsibility arising out of the unauthorised
usage of the User ID or password or unauthorised transactions conducted by using
the Online Facility. All Online Transactions conducted using the User ID and password
shall be the sole responsibility of the User. The User shall indemnify the MAMCPL/Fund/RTA
for all liabilities, losses, damages and expenses which they may sustain or incur
directly or indirectly as a result of:
(a) providing the Online Facility, as available over internet or any other mode,
that would enable the User to give Electronic Instructions to MAMCPL or by reasons
of MAMCPL, in good faith, taking or refusing to take any action on the Electronic
Instructions received from the User;
(b) fraud or dishonesty relating to any transaction using the User ID and password;
(c) non-compliance with the Terms and Conditions set out herein;
(d) incorrect or erroneous information provided by the User whilst filling up the
online application /transaction form;
(e) negligence or mistake or misconduct of the User;
(f) any information given out by the software system being inaccurate/incorrect;
(g) any online transaction that is carried out on the basis of Electronic Instructions
given by unauthorised persons by gaining access to the User ID and password; and
(h) any loss or damage incurred or suffered by the User due to any error, defect,
failure or interruption in the provision of the Online Facility arising from or
caused by any reason whatsoever including but not limited to computer systems of
the User, any virus or malware or bugs in the computer systems of the User;
10.1. Termination by MAMCPL
(a) MAMCPL may disallow usage of the Online Facility, without liability, without
prior notice on occurrence of any of the following events (i) non-compliance of
the Terms and Conditions stated herein; (ii) death, insolvency, bankruptcy or liquidation
of the User; (iii) any other cause arising out of the operation of law; or (iv)
or such other reason as MAMCPL deems fit and proper.
(b) MAMCPL may, at its sole discretion, at any time suspend the User’s right to
deal with MAMCPL through the Online Facility for such reason and for such time period
as it may deem fit.
(c) MAMCPL has the right to terminate this agreement with the User at any point
of time by giving notice in writing or by communicating the same over email, to
In the event of termination for any reason whatsoever, MAMCPL/ the Fund shall be
entitled to recover all outstanding charges and dues from the User, if any.
10.2. Termination by User/Unitholder
The User/Unitholder may terminate the Online Facility by making an application to
the AMC in writing and signed by him, if the User wishes to terminate the Online
Facility. The AMC shall disable the User ID and the Online Facility granted to such
User/Unitholder at any time within a period of 10 business days from the date of
receipt of the termination notice/request. It shall be the User/Unitholder's sole
responsibility to ensure that such Termination Notice is delivered to the AMC, and
the AMC shall in no circumstances be liable for any non-receipt or delay in receipt
of such termination notice/request.
11. Proprietary rights
The User acknowledges that the software and the underlying Online Facility as well
as other internet related software(s) which are required for accessing the Online
Facility are the legal property of MAMCPL and the respective vendors. The permission
given by MAMCPL to access the Website or the Online Facility does not convey any
proprietary or ownership rights in the above software. The User agrees that he/she
shall not attempt to modify, translate, disassemble, decompile or reverse engineer
the software relating to the underlying Online Facility or create any derivative
product based on the software. The User further agrees not to use the name, logo
or mark of the Fund or MAMCPL (or any logo or mark similar thereto), and any related
patent, trademarks and service marks applications, design rights, copyrights, and
all or any similar or equivalent rights arising or subsisting in any country in
The grant of the Online Facility to the User is not transferrable or assignable
under any circumstances and the User warrants that the Online Facility shall be
only availed by him/her. The User agrees to not assign or delegate any right, interest,
obligation arising out of or in relation to the use of Online Facility.
13. Governing law and dispute resolution
13.1. In case of a dispute arising out of these Terms and Conditions, the matter
shall be settled by arbitration at Mumbai, India as per the provisions under the
Arbitration and Conciliation Act, 1996. A person nominated by MAMCPL shall be the
sole arbitrator and the language of arbitration shall be English. The User agrees
that the decision / award of the sole arbitrator shall be final and binding.
13.2. These terms and conditions are governed by the Laws of India. MAMCPL accepts
no liability whatsoever, direct or indirect for non-compliance with laws of any
foreign country other than the Laws of India.
The Clause headings in these Terms and Conditions are only for the sake of convenience
and do not effect the meaning of the relative Clause.
15.1. Any notice, communication or documents required to be given by either party
to the other under the terms of the Terms and Conditions, may be given by personal
delivery, registered post, telex or by fax, or by other electronic medium as agreed
by both parties from time to time, at the following addresses:
a) If to the AMC:
Mahindra Asset Management Company Private Limited Customer Services 1st Floor, Sadhana
House, 570, P.B. Marg, Worli, Mumbai – 400018, India Attention: Head - Customer
b) If to the Unitholder: At the address of the Unitholder as recorded with the AMC
15.2. The notice, communication or document shall be deemed to be effective if given
by personal delivery when so delivered, if given by post on expiration of seven
days after the notice, communication or document is delivered to the post office
for onward despatch, if given by fax or telex upon transmission thereof. Provided
that any notice, communication or document given by telex or fax, shall be followed
by a confirmation in writing.
16. Compliance with applicable Laws
Words and expressions not defined herein but defined in the Offer Documents the
relevant scheme shall have the same meanings respectively assigned to them in such
Offer Documents. These Terms and Conditions are subject to applicable Laws including
but not limited to Securities and Exchange Board of India (Mutual Funds), Regulations,
1996 and circulars, guidelines / notification issued there under as amended from
time to time and other laws, rules and regulations issued by the Government of India.
Further, the Terms and Conditions specified herewith cannot supersede the applicable
laws as specified in Securities and Exchange Board of India (Mutual Funds), Regulations,
1996 and circulars, guidelines / notification issued there under as amended from
time to time and/or other rules and regulations or guidelines issued by the Association
of Mutual Funds in India and/ or any other regulatory authority which is applicable
Mutual Fund Investments are subject to market risks, read all scheme related documents
Toll Free -
1800 419 6244
The information and data contained in this Website do not constitute distribution,
an offer to buy or sell or solicitation of an offer to buy or sell any Schemes/Units
of Mahindra Mutual Fund in any jurisdiction in which such distribution, sale or
offer is not authorised. The material/information provided in this Website is for
the limited purposes of information only for the investors. In particular, the information
herein is not for distribution and does not constitute an offer to buy or sell or
solicitation of an offer to buy or sell any Schemes/Units of Mahindra Mutual Fund
to any person in the United States of America ('USA')/Canada.
By entering this Website or accessing any data contained in this Website, I/We hereby
confirm that I/We am/are not a U.S. person, within the definition of the term 'US
Person' under the US Securities laws/resident of Canada. I/We hereby confirm that
I/We am/are not giving a false confirmation and/or disguising my/our country of
residence. I/We agree and acknowledge that Mahindra Mutual Fund/Mahindra Asset Management
Company Private Limited (Mahindra AMC) is relying upon my/our confirmation and in
no event shall the directors, officers, employees, trustees, agents of Mahindra
AMC associate/group companies be liable for any direct, indirect, incidental or
consequential damages arising out of false confirmation provided herein.