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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 Manulife Mutual Fund (‘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 Manulife Mutual Fund. Please tick in the appropriate box for relevant options wherever applicable.
Such applications incomplete in any respect are liable to be rejected. Mahindra Manulife Investment Management Private Limited (Formerly known as Mahindra Asset Management Company Private Limited) (the ”AMC”/ “MIMPL”) / Mahindra Manulife Trustee Private Limited (Formerly known as ‘Mahindra Trustee Company Private Limited’) (“Trustee”) have absolute discretion to reject any such Applications submitted online.
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 Charges;
(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 any distributor).
(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.
Investments on Behalf of Minor:
In addition to the existing procedures, the photocopy of supporting documents as enumerated below shall be mandatory submitted while creating folio on behalf of minor:
i. Birth certificate of the minor, or
ii. School leaving certificate / Mark sheet issued by Higher Secondary Board of respective states, ICSE, CBSE etc., or
iii. Passport of the minor, or
iv. Any other suitable proof evidencing the date of birth of the minor.
In case of ambiguity in Date of Birth provided on Online Portal/ updated from KYC records vis-a-vis the document evidencing the date of birth of the minor, the date of birth as per such document will be considered and captured in our records accordingly.
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. Residents of Canada as defined under the applicable laws of Canada;
5. U.S. Person* (including all persons residing in U.S., U.S. Corporations or other entities organised under the laws of U.S), except lump sum subscription and switch transaction requests received from Non-resident Indians / Persons of Indian origin who at the time of such investment, are physically present in India and submit only a physical transaction request along with such documents / undertakings, etc. as may be prescribed by the AMC / Mutual Fund from time to time, and subject to compliance with all applicable laws and regulations prior to investing in the Scheme, and provided that such persons shall not be eligible to invest through the SIP route / systematic transactions.
*The term “U.S. Person” means any person that is a U.S. Person within the meaning of Regulation S under the Securities Act of 1933 of the United States or as defined by the U.S. Commodity Futures Trading Commission or as per such further amended definitions, interpretations, legislations, rules etc., as may be in force from time to time.
The physical application form(s) for transactions (in non-demat mode) from such U.S. person will be accepted only at the official points of acceptance of transactions of the Fund in India. Additionally, such transactions in physical application form(s) will also be accepted through Distributors of the AMC and other platforms in India, subject to receipt of such additional documents/undertakings, etc., as may be stipulated by the AMC / Trustee from time to time.
The investor shall be responsible for complying with all applicable laws for such investments. The AMC/Trustee reserves the right to put the application form/transaction request on hold/reject the subscription/transaction request and redeem the units, if already allotted, as the case may be, as and when identified by the AMC that the same is not in compliance with the applicable laws, the terms and conditions stipulated by the AMC/Trustee from time to time and/or the documents/undertakings provided by such investors are not satisfactory. Such redemption will be processed at the applicable Net Asset Value and subject to applicable taxes and exit load, if any.
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 Manulife Mutual Fund except in the manner stated in point no. 5 above.
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 account.
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.
iii Investment on behalf of minor
In case of investment on behalf of minor the payment for the same shall be accepted from the bank account of the minor or joint account of the minor with the same guardian only as mentioned in the Online application form/registered in the folio.
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 (Income Distribution cum Capital Withdrawal/IDCW) 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. Pay- Out Bank Account Details in case of Minor (For Redemption only)
In case of minor folio, the redemption proceeds shall be credited in the bank account of minor or in the joint account of the minor held with the same guardian (as registered in the folio). For existing minor folios (i.e. the folios created prior to January 20, 2020), before processing redemption, the AMC shall insist upon a change of pay-out bank mandate where the existing payout bank account does not belong to the minor or is not a joint account of the minor held with the same guardian (as registered in the folio).
C. 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 offline mode.
D. 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 any distributor.
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. If the AMC / RTA finds that the email address / mobile number provided is not of the actual investor or seems to be incorrect, the AMC / RTA may choose not to capture / update the email address / mobile number.
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 (ICDW) proceeds (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 [ICDW] (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 [ICDW] (if any) proceeds shall be effected by sending the Unit holder(s) a cheque / demand draft.
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.mahindramanulife.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 Application Form.
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. SMS Alerts
This facility enables the Unit holder to receive SMS confirmations for purchase, redemption or switch, dividend [ICDW] declaration details and other alerts.
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 Attorney holder.
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 holder.
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 the nominees.
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.mahindramanulife.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 Application Form.
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 (KYC) policy.
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, 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.
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.
Or you can do eKYC by clicking below button.
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Please try again in some time.
If you still face this issue, do get in touch with our customer service team.
Please make sure to keep the following information/documents ready before starting the e-KYC registration process:
1. Scanned copy of PAN (for proof of Identity) in .JPEG, .JPG, .PNG, .BMP, .GIF, .PDF format.
2. Aadhaar number (proof of address) for online verification. Kindly note, the OTPs will be triggered on the Aadhaar registered email address and mobile number, hence, make sure you have access to the same.
3. Scanned copy of Cancelled Cheque (for bank mandate verification), where your name is appearing on image in .JPEG, .JPG,.PNG, .BMP, .GIF Format.
4. Scanned copy of the image of signature or the same can be done live on the portal as well. In case, if you have to upload your scanned copy of your signature, the file has to be in .JPEG, .JPG, .PNG, .BMP, .GIF, .PDF format.
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) including the terms and conditions/instructions pertaining to the Systematic Investment Plan (SIP)/ Systematic Transfer Plan (STP) / Capital Appreciation STP (CASTP)/ Flex Systematic Transfer Plan (Flex-STP)/ Systematic Withdrawal Plan (SWP) Facility, wherever applicable and Online facility as on the date of this transaction, before applying for allotment of Units of the scheme(s) of Mahindra Manulife Mutual Fund (“the Fund”).
2) I/We understand and acknowledge that the Fund / Mahindra Manulife Investment Management Private Limited (Formerly known as Mahindra Asset Management Company Private Limited) (“MMIMPL”) 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 proceed with 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/MMIMPL 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 schemes; 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 MMIMPL, 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 ofRedemption/Switch-out/STP/CASTP/Flex-STP/SWP request, if valid, shall be processed post deduction of applicable exit load, if any.
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 MMIMPL / the Fund and undertake to inform MMIMPL/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 Sponsors, Trustees, MMIMPL, 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 MMIMPL / the Fund, their appointed service providers or representatives responsible. I/We will indemnify the Fund, MMIMPL, 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/MMIMPL/ 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 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 by 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.
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 MMIMPL/ 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. MMIMPL 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 MMIMPL/the Fund at its sole discretion in order to facilitate electronic transactions for the Users. However, MMIMPL/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 MMIMPL. MMIMPL / 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 MMIMPL, 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. MMIMPL may subsequently extend the Online Facility to other categories of Users or restrict existing categories of Users, at its sole discretion.
2.3. MMIMPL / 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 MMIMPL 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 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.
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 provider.
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 (Income Distribution cum Capital Withdrawal/IDCW) proceeds are sent to an incorrect bank account due to incorrect bank details provided by the User in the folio.
3. Services offered on Electronic platforms through Online Facility
3.1. The services offered by MMIMPL on the Electronic platforms through the Online Facility are being offered, subject to the Disclaimers mentioned on the Electronic platforms, as an additional facility to the Users and is not in substitution of other facilities being provided by MMIMPL/the Fund. These services are over and above the facilities that MMIMPL provides through its official point of acceptance / investor service centres. MMIMPL 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 MMIMPL at any point of time would be as made available in the Online Facility at the time of access by the User. MMIMPL may, at its sole discretion, also block certain type of transactions from the Online Facility, for one or more scheme(s).
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 cut-off timings for switch options for online transaction through the Fund’s website for all schemes except for Mahindra Manulife Liquid Fund and Mahinda Manulife Overnight Fund is kept at 2.45 PM and Mahindra Manulife Liquid Fund and Mahinda Manulife Overnight Fund is 1.15 PM
c) Redemption of units.
d) Registration and Cancellation of SIP, STP and SWP facilities
e) Pause SIP facility
f) Special products (as and when offered by AMC through online facility)
g) 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 Unitholders.
3.5. The services through the Online Facility are available to only those Users availing them through the Electronic platforms. The Online Facility is not available to Users attempting to transact with MMIMPL through any third party websites, unless the Users using such third party websites specifically register on the Electronic platforms of MMIMPL.
3.6. Currently, the Users are not permitted to transact in Folios/Units in dematerialized form through the Online Facility.
3.7. MMIMPL 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 MMIMPL may require. In such case, MMIMPL 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 MMIMPL. However, MMIMPL 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.
3.8. 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 MMIMPL/the Fund, within the timelines and in a manner as prescribed by MMIMPL/the Fund. All details as may be requested by MMIMPL from time to time for availing any of the Online Facility are mandatory. MMIMPL 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 MMIMPL, to its satisfaction. If these requirements are not fulfilled, MMIMPL/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
4.2. The User agrees that the data provided by him/her pursuant to his/her online transactions and dealings with MMIMPL may be shared by MMIMPL with his/her authorised agents, representatives, affiliates, group companies and subsidiaries/service providers. MMIMPL 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 MMIMPL 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, MMIMPL may lock/block the User if it detects any suspicious activity. Further, to prevent unauthorized access to the User’s account, MMIMPL may ask additional information before granting the access to the User and/or for making online transactions.
4.4. For security reasons, MMIMPL 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, MMIMPL 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 MMIMPL including the folio numbers, transaction details, etc. as confidential and shall take adequate measures to ensure the security of such confidential information. MMIMPL and/or the Fund shall not be responsible in case the confidential information is wrongfully accessed or used by a third party.
4.7. MMIMPL agrees to take reasonable steps, on a best efforts basis to ensure confidentiality, continuity and security for availing Online Facility through the Electronic platforms without providing any guarantee or warranty regarding the same.
4.8. Pursuant to the submission of the contact details by the User(s) with MMIMPL /the Fund, it shall be deemed that the User(s) has authorised and provided consent to MMIMPL/ the Fund, its Registrar & Transfer Agent and their authorized representatives to contact the User(s) through various communication modes (including phone / email / SMS / WhatsApp) to address the investment related queries and/or receive communication pertaining to User’s financial transactions/ non-financial transactions/ promotional/ potential investments and other communication/ material about the mutual fund products and services offered by the Fund, irrespective of User’s blocking preferences with the Customer Preference Registration Facility.
5. USER-ID, PASSWORD AND ONE TIME PASSWORD (OTP)
5.1. The User may use the Permanent Account Number or registered email id and password using the online portal of MMIMPL to avail various services through Online Facility offered by MMIMPL 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 MMIMPL.
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 MMIMPL/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 MMIMPL 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, MMIMPL 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 MMIMPL on immediate basis. MMIMPL reserves the sole discretion to decide the mobile number/email id of the User where the OTP shall be delivered. MMIMPL 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 MMIMPL 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 MMIMPL/ 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 MMIMPL/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 updating 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. MMIMPL/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 MMIMPL/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 MMIMPL/Registrar using electronic mode and MMIMPL/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 MMIMPL, 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 MMIMPL 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
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 MMIMPL from time to time.
6.10. The User authorises MMIMPL 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 MMIMPL 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, MMIMPL 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 MMIMPL 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 MMIMPL, the User shall advise MMIMPL of the same as soon as possible. MMIMPL shall endeavor to correct the error. While MMIMPL 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 MMIMPL 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 or incorrect.
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. MMIMPL shall, on a best efforts basis, attempt to keep Electronic platforms updated to ensure that the User has access to updated information.
6.15. MMIMPL 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 MMIMPL is currently permitting the online transactions without any charge but MMIMPL, 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 Electronic platforms 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 MMIMPL. Whilst MMIMPL 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 MMIMPL; and
(b) Technology risks: The technology for enabling the Online Facility provided by MMIMPL could be affected by virus or other malicious, destructive or corrupting code, programme or macro or any other reasons not attributable to MMIMPL. It may also be possible that the Online Facility of MMIMPL 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 MMIMPL 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 MMIMPL to honor any instruction for whatsoever reason. The User accepts that MMIMPL shall not be responsible for any of the aforesaid risks.
6.18. The User agrees and acknowledges that delay, forbearance or failure on MMIMPL’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 MMIMPL. MMIMPL 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 in case details are sent to an incorrect mobile number due to an incorrect mobile number provided by the User.
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 Electronic platforms should be construed as a recommendation, by theAMC 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, securityor 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 MMIMPL, the Fund and its products/services, is for information purposes only and should not be relied upon as a basis for investment decisions. MMIMPL shall not be responsible for any information contained in any website linked from the Electronic platforms. MMIMPL 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 Electronic platforms updated and to ensure accuracy of information/data on the Online Facility. However, the information, products, and services included on the Electronic platforms 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 information provided.
All information contained on any page set up by MMIMPL 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 Electronic platforms 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.mahindramanulife.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 Electronic platforms.
8.3. MMIMPL does not provide any express or implied warranty in relation to the following:
(a) that the Online Facility and the access to the Electronic platforms will be continuous, defect free, uninterrupted or free from errors or that any identified defect will be corrected instantaneously;
(b) that the information on the Electronic platforms will be updated continuously, or on a real time basis;
(c) that the software, operating system and/or hardware installed by MMIMPL 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 MMIMPL 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 MMIMPL 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. MMIMPL, 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 MMIMPL;
(b) shortcomings or deficiencies in the software, operating system or hardware installed or used by the User to access the Electronic platforms 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 MMIMPL based on Electronic Instructions of the User;
(e) any unauthorized usage/unauthorized online transactions concluded by using the Online Facility;
(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 MMIMPL;
(h) not carrying out any such Electronic Instructions where the MMIMPL/RTA has reason to believe (which decision of MMIMPL/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 MMIMPL/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 MMIMPL 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 / guidelines issued from time to time).
8.7. Where MMIMPL/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, MMIMPL/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. MMIMPL 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 MMIMPL in such a situation shall be final and binding on the User.
8.8. The User agrees that he/she shall be liable for the losses/consequences, arising from any unauthorized transactions through the Electronic platforms, 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 MMIMPL of such disclosure within reasonable time;
(c) not advising MMIMPL within a reasonable time about unauthorized access to or erroneous transactions in his account.
8.9. MMIMPL 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.
MMIMPL/ 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 MMIMPL/Fund/RTA for all liabilities, losses, damages and expenses which they may sustain or incur directly or indirectly as a result of:
(a) the Online Facility / Electronic platforms, as available over internet or any other mode, that would enable the User to give Electronic Instructions to MMIMPL or by reasons of MMIMPL, 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 MMIMPL
(a) MMIMPL 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 MMIMPL deems fit and proper.
(b) MMIMPL may, at its sole discretion, at any time suspend the User’s right to deal with MMIMPL through the Online Facility for such reason and for such time period as it may deem fit.
(c) MMIMPL 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 the User.
In the event of termination for any reason whatsoever, MMIMPL/ 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 MMIMPL and the respective vendors. The permission given by MMIMPL to access the Electronic platforms 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 MMIMPL (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 world.
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 MMIMPL 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. MMIMPL 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 Manulife Investment Management Private Limited (Formerly known as Mahindra Asset Management Company Private Limited), Customer Services, 1st Floor, Sadhana House, 570, P.B. Marg, Worli, Mumbai – 400018, India Attention: Investor Relations Officer
b) If to the Unitholder: At the address of the Unitholder as recorded with the AMC / Fund.
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 of the relevant schemes shall have the same meanings respectively assigned to them in such Offer Documents. These Terms and Conditions are subject to applicable Law 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 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/or other rules and regulations or guidelines issued by the Association of Mutual Funds in India and/ or any other regulatory authority.