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Fair Practices Code
As per RBI guidelines NBFCs are required to put in place and implement Fair Practices
Code (“FPC”) based on the prescribed minimum standards. The FPC so framed and approved
by the Board of Directors should be published and disseminated on the web-site of
the company, if any, for the information of the public. The Company’s Board of Directors
and the management team are responsible for implementing the fair practices hereinafter
detailed. The Board of Directors will also have a periodical review of the compliance
of the Fair Practices Code and the functioning of the grievances redressal mechanism
at various levels of management.
Angel Global Capital Pvt Ltd. (the “Company”) is a Company incorporated under the
Companies Act, 1956. The Company has been incorporated for the purposes of interalia
carrying on activities of providing financing facility to its clients for investing
in securities, commodities, Initial Public Offer (IPO), Public Offers (POs), Mutual
fund NFOs etc. as may be permitted to be carried out by an NBFC from time to time.
In pursuance of the directions issued by Reserve Bank of India for Non-Banking Financial
Companies (NBFCs), the Company, has adopted the following code for fair practices
while dealing with customers The Fair Practice Code (FPC) covers the following areas:
Rate of Interest levied on Margin Trade Funding (MTF) facility is 16% p.a.* only on the outstanding amount
and for the
utilized duration. Interest is calculated on daily outstanding balances payable/debited to your loan
account at the end of the month.
Differential rate of interest shall depend on risk gradation parameters, historical pattern of funding facility
availed by the client and requisite approval from management.
* The rate of interest levied is subject to change as per the sole discretion of management.
The risk gradation of the client is evaluated on various parameters such as borrower’s profile, due diligence activity,
financial status, credit appraisal, occupation, credentials etc.
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