Shares request not processed as per guideline

[Babugowda]

Hi,

Sorry for raising same issue again, I have some questions regarding my issue.
Case details-
I am working at HDFC Bank Bangalore. And I have received a right issue application on 14th November 2016 and same application not processed through ASBA
1)I am not proceeded the application through ASBA
2) I have sent the application to R&T agent on 14th November.
3)R&T agent will not process the physical application and thy have the cricluar that thy should process the ASBA request only and our bank also sent a circular and I have not aware about that circular
4)now customer went to court for not creding shares to his demat
5)i was not awear about ASBA at the time of accept and it's very new work to me
6) right issue price 70/-P SHARE(2:1)
7) peasant share price is rs 160/-
8) our manager accepted that staff not aware about process on his mail
9) in this case there is not maker and checker.



Question
1)what bank will do when court order comes against bank?
2)will bank ask me to pay that 20Lakh from my pocket

Note-
I Have missed the ASBA process so customer not received shares.

Kindly assist me.
Thank you.

[AFFA]

Re: Shares request not processed as per guideline

I wish to inform you that while holding that there has been deficiency of service on the part of the bank in not remitting the amount forwarded by the complainant for purchase of share under a rights issue, thereby depriving the complainant the benefit of those shares, the State Commission also upheld the District Forum's order in respect of the compensation awarded on the basis of prevailing market value of the shares on the relevant date on the ground that the fundamental principle for determining the quantum of compensation which naturally flows from the consequence of the deficiency in service on the part of the bank is that as far as possible the injured party should be placed in as good a situation as if there has been no deficiency in the service and the complainant would have succeeded in obtaining the shares from the Company. Samanya Sahayak Prabandhak, SBI & Anr., v. Abdul Moin 1997 (2) CPR 205 (SCDRC-UP). Further, bank may take disciplinary action against staff as per the provisions of the Bank's Service Code.

AFF

[Unregistered]

[QUOTE=AFFA;364463]I wish to inform you that while holding that there has been deficiency of service on the part of the bank in not remitting the amount forwarded by the complainant for purchase of share under a rights issue, thereby depriving the complainant the benefit of those shares, the State Commission also upheld the District Forum's order in respect of the compensation awarded on the basis of prevailing market value of the shares on the relevant date on the ground that the fundamental principle for determining the quantum of compensation which naturally flows from the consequence of the deficiency in service on the part of the bank is that as far as possible the injured party should be placed in as good a situation as if there has been no deficiency in the service and the complainant would have succeeded in obtaining the shares from the Company. Samanya Sahayak Prabandhak, SBI & Anr., v. Abdul Moin 1997 (2) CPR 205 (SCDRC-UP). Further, bank may take disciplinary action against staff as per the provisions of the Bank's Service Code.

AFF[/QUOT

Dear sir,
What disciplinary action bank will take?? Bank ask staff to pay 20 Lakh??

[AFFA]

Re: Shares request not processed as per guideline

I wish to inform you that disciplinary action depends upon whether you are a confirmed employee or you are on probation and upon the terms and conditions as stated in your employment contract? You may request the HR Department for a copy of the Standing Orders of the bank. Finally, the discretion and decision in any matter is that of the bank management and you may request for leniency. You may contact an attorney and seek guidance in the matter.

AFF

[Babugowda]

I wish to inform you that disciplinary action depends upon whether you are a confirmed employee or you are on probation and upon the terms and conditions as stated in your employment contract? You may request the HR Department for a copy of the Standing Orders of the bank. Finally, the discretion and decision in any matter is that of the bank management and you may request for leniency. You may contact an attorney and seek guidance in the matter.

AFF

I am a confirmed employee.