PMLA Policy – One Nivesh

Introduction

This policy is framed and adopted as a requirement by SEBI under the Prevention of Money Laundering Act, 2002 (“PMLA”). The policy provides a framework with respect to anti-money laundering measures to be taken by Nitesh Jain, as a SEBI registered Research Analyst.

Objective of the PMLA Policy

• To prevent Nitesh Jain from being used by criminal elements for money laundering or terrorist financing activities.
• Create awareness and provide clarity on KYC standards and AML measures.
• To have a proper Client Due Diligence (CDD) process before registering clients.
• To monitor and report suspicious transactions.

Client Due Diligence (CDD) Process

Policy for Acceptance of Client

• No account shall be opened in fictitious name or on an anonymous basis.
• No account will be opened if the fee for services is offered by the client in cash.
• No account is opened where appropriate CDD measures / KYC policies cannot be applied.
• Identity check against known criminal backgrounds or banned lists (UNSCRs).

Suspicious Transactions & Monitoring

Appropriate steps are taken to recognize suspicious transactions based on circumstances like difficulty in identity verification, unclear source of funds, or unusual transaction patterns.

Information to be Maintained

• The nature of the transactions.
• The amount and currency of the transaction.
• The date of the transaction.
• The parties involved in the transaction.

Principal Officer & Designated Director