Client Contact Information Updation Policy

1. Purpose:
This policy outlines the procedure for clients to provide and update their mobile numbers and email addresses, in compliance with SEBI's Circular (SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/169) regarding unique client contact details for stock trading.

2. General Requirements:

  • Each client must provide a unique mobile number and email address while opening or updating their account with Navia.

  • Navia is responsible for ensuring that each client’s mobile number and email address are uploaded in the system as unique identifiers. This includes monitoring and enforcing compliance with SEBI guidelines.

3. Family Exception:
In exceptional cases, Navia may allow the same mobile number or email address for more than one client, provided the clients belong to the same family.
For the purpose of this policy, "family" includes: The client’s self, spouse, dependent children, and dependent parents.
Clients wishing to use the same mobile number or email address for multiple family members must submit a written request along with appropriate supporting documents.

4. Non-Individual Clients Exception:
For non-individual accounts (HUF, Corporate, Partnership, etc.), the same mobile number and email address may be used, provided that:

  • A declaration is submitted offline.

  • The contact details are associated with the authorized person operating the account, as per the approved structure (e.g., Karta for HUF, Partners for Partnership firms, etc.).

5. Declaration and ID Proof Requirements:
If a client uses the same contact details for multiple family members or non-individual accounts, the following documentation is required:

  • For Family Accounts: A declaration form signed by the client, along with supporting ID proof of the relationship (e.g., birth certificate, marriage certificate, passport, or masked Aadhaar/PAN).

  • For Non-Individual Accounts: A declaration form submitted offline and any necessary proof of the authorization of the individual handling the account (e.g., Board resolution for Corporates, Partnership deed for Partnerships, etc.).

6. Compliance and Enforcement:

  • All clients are required to comply with this policy at the time of account opening and any updates to their contact details.

  • Navia will regularly audit and monitor accounts to ensure that each client has a unique mobile number and email address unless valid exceptions apply.

  • Non-compliance with this policy may result in the account being flagged or restricted until the necessary documentation is submitted.

7. Amendments: Navia reserves the right to modify this policy in accordance with any future SEBI guidelines or regulatory changes. Clients will be notified in such cases.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article

Related articles

Still need help?