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Old 05-18-2017, 03:42 AM   #1
Babugowda
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Default Shares application not processed. Most urgent

Hi,

I am working in hdfc Bank Bangalore. on November month branch had received a right issue application for ASBA process, And my self have sent the application to R&T agent with out processing the application through ASBA. Now the customer not received the shares and customer may loose 15to20 lakh (share value as per the today rate). And same customer went to court and if court give order against to bank. What will happens to bank and what action bank will take to bank staff(who had not process the application as per circular). I am really not aware about the ASBA and it's process and 1st time I was received such kindly of request. (Bank have sent circular well before).
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Old 05-18-2017, 04:35 AM   #2
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Default Re: Shares application not processed. Most urgent

I wish to inform you that consumer court may grant compensation to consumer as consumer had lost money because of banks negligence. However bank may argue that loss should be calculated on the basis of issue price and market price of share when share traded on first day at stock market after completion of public issue as consumer was then free to buy from market. Further if ban tries to recover from employee then it may be argued that employee should not be held liable as when application was sent to R&T agent and no objection was raised by anyone.

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Old 05-18-2017, 05:02 AM   #3
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I wish to inform you that consumer court may grant compensation to consumer as consumer had lost money because of banks negligence. However bank may argue that loss should be calculated on the basis of issue price and market price of share when share traded on first day at stock market after completion of public issue as consumer was then free to buy from market. Further if ban tries to recover from employee then it may be argued that employee should not be held liable as when application was sent to R&T agent and no objection was raised by anyone.


AFF
Sir,

R&T agent will not process the physical application, thy process only ASBA (Online). But I have sent physical application. What will happen to me??
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Old 05-18-2017, 05:27 AM   #4
Babugowda
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Hi,

I am working in hdfc Bank Bangalore. on November month branch had received a right issue application for ASBA process, And my self have sent the application to R&T agent with out processing the application through ASBA. Now the customer not received the shares and customer may loose 15to20 lakh (share value as per the today rate). And same customer went to court and if court give order against to bank. What will happens to bank and what action bank will take to bank staff(who had not process the application as per circular). I am really not aware about the ASBA and it's process and 1st time I was received such kindly of request. (Bank have sent circular well before).
R&T will not process the physical application. Thy will process the only ASBA(Online).
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Old 05-18-2017, 08:18 AM   #5
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R&T will not process the physical application. Thy will process the only ASBA(Online).
Dear sir/Madam.

Kindly assist me
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Old 05-18-2017, 11:17 AM   #6
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Default Re: Shares application not processed. Most urgent

If your actions are required to be authorized by any senior officer, you will not be held liable for the incident. But if the task does not warrant a supervision you are liable for the incident.
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Old 05-18-2017, 11:35 AM   #7
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If your actions are required to be authorized by any senior officer, you will not be held liable for the incident. But if the task does not warrant a supervision you are liable for the incident.
What bank will do against me. Here there is no maker and checker, only I have done mistake.
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