DISCLAIMER 

______________________________________________________________________________________________________________________________________

Brokerage Services Limited (BSL) maintains www.direct.com (hereinafter referred to as the "Website") and owns, has the license to use or otherwise has the right to use, free of any pending or threatened liens, all content, graphics, HTML and CGI or other scripts displayed and used on the Website.

Whereas IBSL is an Affiliate of the company and the Website is owned by the company, the disclaimer is for the benefit of IBSL as much as for the company and other Affiliate companies. Affiliate shall for the purposes of this disclaimer mean any company which is the holding company or subsidiary of the company or a company under the control of or under common control with a company in, more than 26% of the voting securities of which, the company has direct or beneficial interest.

THE USE OF THE WEBSITE BY THE CUSTOMER SHALL MEAN THAT HE/SHE AGREES WITH THE FOLLOWING TERMS OF USE.

1. IBSL has launched and established an online trading service on the Website (hereinafter referred to as the "Service"). IBSL has exclusive and sole discretion to select the Customers who would be entitled to use, access and benefit out of the Service. IBSL also reserves the absolute right and discretion to decide on the criteria for selecting the Customers to participate in the Service offered hereunder.

The offering of the Service is subject to the requisite permissions, approvals, licenses and any other clearance from the appropriate regulatory authority viz., Securities and Exchange Board of India, National Stock Exchange of India Limited, Stock Exchange, Mumbai and any other relevant authority that may be the regulatory authority of the Service.

The Service offered by IBSL envisages a Customer opening an e-invest account being provided with a demat and bank account in respect of which the Customer will be required to pay only the account opening charges (hereinafter referred to as the "Offer"). This Offer shall remain valid only for such period as may be determined by IBSL. IBSL also reserves the absolute right to decide on the duration of the period during which the Offer shall be available. IBSL need not and does not and will not undertake to notify the withdrawal of the Offer.

This Service on the Website does not constitute an offer to sell or a solicitation to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. This Service is not intended to be any form of an investment advertisement, investment advice or investment information and has not been registered under any securities law of any foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be lawful to provide such information, otherwise the same shall not be considered an information. The distribution of this Service or content in other jurisdictions may be restricted by law and the persons who access the Service should inform themselves about, and observe, any such restrictions. By accessing and surfing this Website, the Customer agrees to be bound by the foregoing limitations.

No information, market analysis, research report, etc. on the Website is to be construed as a representation with respect to shares, securities or other investment regarding the legality of an investment therein under the respective applicable investment or similar laws or regulations of any person or entity accessing the Website.

This Service is provided on an "As Is" basis. IBSL and its Affiliates disclaim any warranty of any kind, imputed by the laws of any jurisdiction, whether express or implied, as to any matter whatsoever relating to the Service, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non infringement. IBSL and the Service and the Offer are subject to the jurisdiction only of the courts of the Republic of Indiaat Mumbai.

Use of the Service is at any persons, including a Customer’s, own risk. The data and information provided on the Website is not advice, professional or otherwise, and should not be relied upon as such. Neither the information, nor any opinion contained in this Website constitutes a solicitation or offer by IBSL to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. IBSL or their employees have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and companies mentioned herein. The investments discussed or recommended in the market analysis, research reports, etc. may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advisors as they believe necessary. Information herein is believed to be reliable but IBSL does not warrant its completeness or accuracy. The content of the articles and the interpretation of data are solely the personal views of the contributors and do not in any way reflect the views of IBSL. Users are advised to peruse the articles and other data in the Website only as information and to rely on their own judgement when making investment decisions.

Neither IBSL nor its Affiliates shall be precluded from making any contract or entering into any arrangement or transaction with the companies mentioned herein or with itself in the ordinary course of business or from undertaking any banking, financial or agency services for the companies or for itself or from underwriting or guaranteeing the subscription of or placing or subscribing for or otherwise acquiring, holding or dealing with any of the stocks or shares or debentures or debenture stocks or any other securities whatsoever of the companies or in which the companies may be interested, either with or without a commission, or other remuneration or otherwise, at any time entering into any contract of loan or deposit or any other contract or arrangement or transaction with the companies or being concerned or interested in any such contract or arrangement or transaction which any other company or person would be entitled to enter into with the companies and they shall not be in anyway liable to account either to the companies or any person visiting or accessing the Website including a Customer of the Service for any profits made by them thereby or in connection therewith and the IBSL or its owner or Affiliate shall also be allowed to retain for their or his own benefit any customary share of brokerage, fee, commission, interest, discount or other compensation or remuneration allowed to them.

9. IBSL along with its directors, employees, associates or other representatives and its Affiliates along with its directors, employees, associates or other representatives shall not be liable for damages or injury arising out of or in connection with the use of the Website or its non-use including non-availability, compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property (including without limitation loss of profits, loss or corruption of data, loss of goodwill, work stoppage, computer failure or malfunction, or interruption of business; under any contract, negligence, strict liability or other theory arising out of or relating in any way to the Website, site-related services, or any products or services and claims of third parties damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information, whether resulting, in whole or in part, from or relating to any of the services offered or displayed by IBSL on the Website.

IBSL makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content on the Website. IBSL shall not be responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites. The links being provided to the Customer are only for convenience, and the inclusion of any link does not imply endorsement by IBSL of the site, or its content or the sponsoring organization. By providing access to other websites, IBSL is not recommending the purchase or sale of the securities issued by it nor is it an endorsement of services provided by its sponsoring organization.

The maximum liability of IBSL and its Affiliates to the Customer shall be subject to the amount of fees paid by the Customer for the services that he/she may have availed of through the Website or in pursuance of the Offer or the Service.

IBSL shall not be liable for any misrepresentation, falsification, and deception or for any lack of availability of services through the Website, even if the same are advertised for on the Website.

No judgment or warranty or representation is made with respect to the accuracy, timeliness, or suitability of the content of other services or sites to which these screens link, and IBSL shall not be responsible therefor.

IBSL shall not be liable if the Customer downloads any information or software from this Website. Further, company or its Affiliates shall not be liable if the Customer makes a copy, modifies, uploads, downloads, transmits, (re) publishes it or removes or obscures any intellectual property, including trademarks, copyright or other notices or legends contained in any such information or otherwise distributes any service or content from this Website. IBSL shall not bear the responsibility if the Customer modifies or uses the content or services he/she gets from this Website for any purpose other than those permitted, and in doing so violates the intellectual property including trademarks, copyright and other proprietary rights of IBSL.

The Website contains features of the services that are currently being offered by the IBSL and those intended to be offered in the future. IBSL alongwith the company and its Affiliates intends to launch the services confirming with the features listed on the Website in toto, however due to business need and regulatory requirement the final launch may contain variations. Notwithstanding anything contained in the Website regarding the services, IBSL may decide to postpone the offering of the services or may even decide to withdraw the offering or even a currently offered service altogether

This disclaimer shall be applicable to any person visiting/accessing the Website and/or a Customer entering into an agreement related to availing of the Service offered by IBSL and the company and its Affiliates.

The display, description or references to any products, services, publications or links on the Website shall not constitute an endorsement by IBSL of such products, services, publications or links.