BO PAN Verification Services

Terms and Conditions for Registration and Use of BO-PAN Validation Services

1. ELIGIBILITY AND DEFINITIONS

   A “Member” refers to any SEBI registered entity that wishes to avail the BO-PAN Verification service provided by CDSL. While registration, the SEBI registered intermediary requires OTP verification and acceptance of these Terms and Conditions.

2. ROLE AND SCOPE OF CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED (“CDSL”)

   CDSL’s responsibilities under these Terms and Conditions are strictly limited to the administrative validation of registration documents submitted by the Member and the provision of access credentials upon successful approval. Once approved, CDSL will facilitate the secure transmission of login details, API keys, and the API specification document to the Member’s registered email address. Thereafter, the Member may use the provided API URL to input the BO ID and PAN details. The sole function of the API is to return a confirmation on whether the entered BO-PAN combination is a match ("Yes") or not ("No"), based on information available with the Depository.

   CDSL does not collect, verify, or validate investor details beyond this technical match process, nor does it provide any advisory, interpretative, or assurance services regarding the data or results. CDSL shall not be held responsible for any actions, interpretations, compliance obligations, decisions, or consequences arising from the use or non-use of the API results by the Member or any third party. The Member acknowledges and agrees that CDSL’s role is purely facilitative, limited strictly to what is stated herein, and that no additional obligations, duties, or liabilities shall be inferred or imposed on CDSL under any circumstances.

3. CONSENT AND DATA ACCESS

   Members are solely responsible for obtaining the explicit consent of investors prior to accessing their BO ID and PAN details. It is the Member’s duty and obligation to ensure that such consent is properly and lawfully obtained in accordance with applicable laws and regulations. CDSL disclaims any responsibility or liability for any failure by Members to secure such consent. By registering for the service, Members authorize CDSL to validate BO-PAN combinations with the Depository based on the data provided by the Members. CDSL acts solely as a facilitator in this process and shall not be held accountable for any misuse or unauthorized access of investor data by Members.

4. DATA USAGE AND CONFIDENTIALITY

   Data accessed through the API must be used solely for validation purposes and in compliance with applicable laws. Members are responsible for maintaining the confidentiality and security of all login credentials, API keys, and data accessed, and must not share or misuse this information.

5. API ACCESS AND USAGE

   Upon successful registration and approval, which will be granted only after CDSL verifies that all submitted documents are complete, accurate, and compliant with the required regulations and internal policies, Members will receive API access credentials via their registered email. The API is strictly intended for validating BO-PAN combinations and must be used solely for this purpose. Any excessive, unauthorized, or non-compliant use of the API, including but not limited to misuse, sharing of credentials, or attempts to access data beyond the authorized scope, may result in immediate suspension or termination of API access and registration privileges at CDSL’s sole discretion.

6. APPROVAL AND REJECTION

   CDSL reserves the right to approve or reject any registration at its sole discretion. Registrations found to be fraudulent or non-compliant may be rejected or revoked without prior notice.

7. INDEMNITY

   Members shall fully indemnify, defend, and hold harmless CDSL, its affiliates, officers, directors, employees, agents, and representatives from and against any and all claims, demands, actions, damages, losses, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or related to: (i) any misuse or unauthorized use of the service or API by the Member or its users; (ii) any breach or alleged breach by the Member of these Terms and Conditions; (iii) any violation by the Member of applicable laws, regulations, or third-party rights; (iv) any inaccuracy, incompleteness, or misuse of the data accessed through the service; (v) any failure by the Member to obtain proper consent from investors or other data subjects; (vi) any negligent or willful acts or omissions by the Member or its personnel in connection with the service; and (vii) any claims arising from the Member’s use or reliance on the service, including any consequential, incidental, or indirect damages. Under no circumstances shall CDSL, its officers, directors, employees, or agents be liable for any damages, losses, or expenses incurred by the Member or any third party, whether arising in contract, tort, negligence, strict liability, or otherwise, and the Member agrees to hold CDSL harmless from any such liability. This indemnity obligation shall survive the termination or expiration of the Member’s registration or use of the service.

8. LIMITATION OF LIABILITY

   To the fullest extent permitted by applicable law, CDSL, its affiliates, directors, officers, employees, agents, and representatives shall not be liable to the Member or any third party for any indirect, incidental, consequential, special, punitive, or exemplary damages, including but not limited to loss of profits, loss of business, loss of data, business interruption, or any other damages arising out of or related to the use or inability to use the service or API.

9. TERMINATION

   CDSL may suspend or terminate access to the service if a Member violates these Terms and Conditions or applicable laws. Upon termination, Members must cease using the API and delete all related data.

10. AMENDMENTS

    CDSL may update or modify these Terms and Conditions at any time. Continued use of the services after such changes constitutes acceptance of the updated Terms and Conditions.

11. COMPLIANCE WITH LAWS

    Members must comply with all applicable laws and regulations in connection with their use of the service. Use of the service for any unlawful purpose is strictly prohibited.

12. INTELLECTUAL PROPERTY RIGHTS

    All intellectual property rights related to the service remain the exclusive property of CDSL. Members are granted a limited, non-transferable license to use the API solely as permitted under these Terms. Copying, modifying, or distributing the service or its content is prohibited. Members shall not use CDSL’s name, logo, or trademarks in any public communication or marketing materials without prior written consent. All public announcements relating to these Terms require mutual approval.

13. AUDIT AND MONITORING

    CDSL reserves the right to monitor and audit Members’ use of the service to ensure compliance with these Terms and Conditions. Members are required to cooperate with audits and provide requested information. Suspicious or unauthorized activity may lead to immediate suspension, and Members may be liable for audit-related costs if non-compliance is found.

14. CONFIDENTIALITY

    Members agree to maintain the confidentiality of non-public information exchanged during the course of the service and use it only as authorized. This obligation excludes information that is publicly available, lawfully obtained from third parties, or independently developed.

15. FORCE MAJEURE

    CDSL shall not be liable for delays or failures in service due to events beyond its reasonable control, such as natural disasters, war, strikes, or governmental actions. CDSL will notify Members of such events and will attempt to restore service promptly. If such conditions persist beyond 30 days, either party may terminate the Terms.

16. DATA PROTECTION AND PRIVACY

    Members must comply with all applicable data protection laws, including but not limited to the Information Technology Act, 2000 and DPDP Act, 2023 (when notified) where applicable. Personal data obtained through the service must be processed solely for validation purposes, protected by appropriate security measures, and not retained longer than necessary.

17. DISPUTE RESOLUTION

    Dispute with the Member/s shall be governed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the courts in Mumbai, India.

18. CHARGES

    The charges applicable for availing the BO PAN Verification Service are not included herein and shall be specified in a separate Annexure, which shall be provided to the registered entities and may be amended from time to time.