Return, Refund & Cancellation Policy
Return & Refund Policy
100% Refund will be given if, Customer notifies us in writing within 15 days regarding cancellation of service or return of product. Beyond 15 days entire amount will be forfeited.
Cancellation Policy
Customer needs to notify us in writing within 15 days of making a purchase, regarding cancellation of service or return of product. Beyond 15 days, product or service subscription will not be cancelled.
Scope of this policy
This Return, Refund & Cancellation Policy applies to Pee Aar Securities Limited (“Peeaar Securities”, “we”, “us”), a SEBI-registered stock broker (SEBI Registration No. INZ000176938) and Depository Participant (IN-DP-NSDL-123-2000), and governs payments made to us through our website, mobile applications and other authorised collection channels. By making a payment to us, you agree to the terms set out below. This policy should be read together with our Terms & Conditions, Privacy Policy and Policies & Procedures.
Nature of our services
We provide financial services in the securities markets, including broking, depository and related services. We do not sell physical goods. Accordingly, there is no concept of a “return” or “exchange” of a product in the conventional sense. References to refunds in this policy apply only to monies paid to us for services, and to client funds lying to your credit, as described below.
Trades executed on the exchange cannot be cancelled
Orders placed by you and executed on a recognised stock exchange are final, binding and irreversible. Once a trade is executed it cannot be cancelled, reversed, modified or refunded by us. Settlement of such trades is governed by the rules, bye-laws and regulations of the relevant exchange, clearing corporation and depository. You remain liable for the resulting pay-in obligations, brokerage and statutory charges.
An order that has not yet been executed may be cancelled or modified by you, at your own risk, through the trading platform before execution, subject to market conditions and exchange systems. We do not guarantee that a cancellation or modification request will reach the exchange in time.
Cancellation of an account opening request
You may withdraw an account opening application at any time before the account is activated by writing to us from your registered email address. Where an application is withdrawn before activation, or is rejected by us, any account opening charges collected from you will be refunded after deducting costs already incurred on your behalf that cannot be recovered, such as third-party KYC verification, e-sign, stamp duty and statutory levies.
Once the account has been activated and the services have been made available to you, account opening charges are not refundable.
Refund of client funds
Funds lying to your credit in your trading account, after meeting all outstanding obligations, margin requirements and dues, may be withdrawn by you at any time by placing a withdrawal request through the trading platform or by submitting a written request. Such payouts are made only to a bank account registered and verified in your name in our records, in accordance with applicable regulatory requirements. We do not make payments to third-party accounts.
Withdrawal requests are processed in line with the applicable settlement and payout cycles prescribed by the exchanges and depositories. A request may be withheld, in whole or in part, where there are unmet margin obligations, unsettled trades, debit balances, or where a statutory, regulatory or judicial direction requires us to do so.
Failed, duplicate or excess payments
If an amount is debited from your bank account but is not credited to your trading account, or if a duplicate or excess payment is made, please raise the matter with us at the contact details given below, quoting the transaction reference, date, amount and mode of payment.
Failed transactions are in most cases reversed automatically by the payment aggregator or your bank to the original source. Where a reversal has not occurred, we will verify the transaction with our banker or payment aggregator and, on confirmation of receipt, credit the amount to your trading account or refund it to the source account. The time taken to complete a reversal is governed by the banking and payment systems concerned and is not within our control.
Charges that are not refundable
The following are not refundable once incurred:
- Brokerage and transaction charges on executed trades
- Statutory and regulatory levies, including Securities Transaction Tax, stamp duty, exchange transaction charges, SEBI turnover fees and Goods and Services Tax
- Depository charges levied by NSDL or CDSL, and depository participant transaction charges
- Annual maintenance charges for a period that has already commenced
- Payment gateway, bank, cheque dishonour, courier and similar third-party charges already incurred
- Charges for services already rendered to you
Subscription and value-added services
Where you subscribe to a chargeable plan or value-added service, you may cancel it in accordance with the terms applicable to that service. Cancellation takes effect at the end of the billing period in which the request is received. Fees for a period already availed of are not refundable, and cancellation does not by itself close your trading or demat account.
Account closure
You may close your trading and demat account at any time by submitting the prescribed closure form. Before closure, all open positions must be squared off, all holdings transferred or dematerialised as applicable, and all dues cleared. Any credit balance remaining after settlement of dues will be paid out to your registered bank account. Charges already levied for the period prior to closure are not refundable.
How to request a refund
Refund requests should be raised from your registered email address, or through the contact channels listed on our Contact page, and should include your client code, the transaction reference and date, the amount, and the reason for the request. We may seek additional information or documents to verify a request. Approved refunds are made only to the original source of payment or to your registered bank account, and not in cash.
For assistance you may write to us at ho@peeaarmail.com or call +91 11 4007 2251.
Grievance redressal
If you are not satisfied with the resolution provided, you may escalate the matter to our Investor Grievance cell at investor@peeaarmail.com. If the grievance remains unresolved you may approach the relevant exchange or depository, or lodge a complaint on the SEBI SCORES portal or through the SMART ODR portal. Details of the escalation matrix and the designated officers are available on our Support page.
Amendments to this policy
We may amend this policy from time to time to reflect changes in our services or in applicable law and regulation. The version published on this page is the version in force. You are advised to review this page periodically.
Registered office
Pee Aar Securities Limited, AG-5, Shalimar Bagh, Delhi - 110088.