Legal Junkies Forums

#1 Community for Legal Questions and Answers

 
Go Back   Legal Junkies Forums > LABOR and EMPLOYMENT LAW > Other Labor Law Matters

Register FAQ Tags Members List Social Groups Search Today's Posts Mark Forums Read Layout

Notices


Reply

 

Thread Tools Search this Thread Rate Thread Display Modes
Old 05-18-2017, 11:33 AM   #1
Babugowda
Junior Member
Country:  
Babugowda's Flag is: India
 
Join Date: May 2017
Posts: 13
Default Shares request not processed as per guideline

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.
Babugowda is offline   Reply With Quote


Did you find this post helpful? Yes | No
Old 05-18-2017, 09:27 PM   #2
AFFA
Top Level Member
 
AFFA's Avatar
 
Join Date: Dec 2009
Posts: 23,036
Default 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
AFFA is offline   Reply With Quote


Did you find this post helpful? Yes | No
Old 05-19-2017, 04:21 AM   #3
Unregistered
Guest
 
Posts: n/a
Default

[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??
  Reply With Quote


Did you find this post helpful? Yes | No
Old 05-20-2017, 04:24 PM   #4
AFFA
Top Level Member
 
AFFA's Avatar
 
Join Date: Dec 2009
Posts: 23,036
Default 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
AFFA is offline   Reply With Quote


Did you find this post helpful? Yes | No
Old 05-21-2017, 12:06 AM   #5
Babugowda
Junior Member
Country:  
Babugowda's Flag is: India
 
Join Date: May 2017
Posts: 13
Default

Quote:
Originally Posted by AFFA View Post
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.
Babugowda is offline   Reply With Quote


Did you find this post helpful? Yes | No
Reply

Bookmarks

This thread has 4 replies and has been viewed 552 times


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:


Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
Shares application not processed. Most urgent Babugowda Other Labor Law Matters 6 05-18-2017 11:35 AM
Vote shares and profit shares, change value each fiscal year? FrederickT Business Contracts and Partnerships 3 09-01-2015 02:42 AM
Ownership of processed property codynothy Miscellaneous Topics 7 12-09-2013 12:33 PM
record a non-guideline child support Judgment Lien? wlaw Child Custody and Support 1 07-18-2008 10:59 AM
DUPLEX DAMAGE: Is there a guideline when replacing and fixing damages? michael.1 Landlord vs Tenant Issues 13 02-26-2008 10:57 AM




All times are GMT -4. The time now is 05:14 PM.


Use of the Forums is subject to our Disclaimer. Copyright 2009-2018 by LegalJunkies.com