Freeze/Block of Trading Account by Clients

This is with reference to SEBI Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/4 dated January 12, 2024, BSE Notice No. 20240408-12 and NSE Notice No. NSE/INSP/61529 dated April 08, 2024, MCX Circular No. MCX/INSP/218/2024 and NCDEX Circular No. NCDEX/COMPLIANCE-025/2024 dated April 09, 2024 on "Facility of Voluntary Freezing/Blocking of Trading Accounts by Clients".

In accordance with the aforesaid circulars, if a client observes any suspicious activities in their trading account, the client can request voluntary freezing/blocking of online access to their trading account.

The process for freezing/blocking of the trading account as mentioned above is as given below:

  • Client can place the request through the online facility made available on the ISL website/mobile application by logging in through authenticated login credentials. You can click here to check out Mobile and Web Online Journey.
  • Client can call on Customer Service numbers of ISL: 022-41596000 / 022-62436000 from their registered mobile number or can send the request through email at stop.trade@indusindmoney.com from their registered email ID.
  • On receipt of the request from the client, validation will be done to verify whether the request is received through the authenticated online facility or from the registered phone number/email ID of the client.
  • Upon successful validation, freezing/blocking of the trading account will be done within 15 minutes from the initiation of the request, provided the request is received during trading hours. If the request is received after trading hours or 15 minutes before the start of trading, then freezing/blocking will be done before the start of the next trading session (for further details on this point, please refer to the notes given under point 3(a) of NSE Notice No. NSE/INSP/61529 dated April 08, 2024).
  • Post freezing/blocking of the client's trading account, an acknowledgement communication will be sent to the registered mobile number as well as email ID of the client, stating that the online access to the trading account has been frozen/blocked and all pending orders in the client's trading account, if any, have been cancelled, along with the process for re-enablement of online access to the trading account.
  • Details of open positions (if any) will also be communicated to the client along with contract expiry information within one hour from the freezing/blocking of the trading account.
  • The online access of the client's trading account shall be re-enabled upon receipt of the client's request through registered mobile number on the designated customer service number or through the registered email ID of the client after carrying out necessary due diligence including validating the client request.
  • Freezing is only for the purpose of blocking online access to the client's trading account, and there shall be no restrictions on the Risk Management activities of ISL.