Dear V. Krishnamoorthy,

RE: DEMATING OF SHARES

Just read your reply and thank you indeed for enlighting me on the
subject of the general rule under civil law which is a new knowledge to me now.

Regards
Ghanshyam Jhaveri (NRE Investor)
SARVAM KRISHNAARPANAM

...

HDFC BANK - ETHICS, PROCESS, EFFICIENCY, PEOPLES SKILLS:
I handed Dr. Reddys Laboratories original share cert. + transfer forms, duly executed, for dematting. For 14 (fourteen) weeks they did not demat my shares. Meantime, Dr. Reddys issued Bonus 1:1 in Sept. 2006 which came in physical form. I had a lengthy exchange of E-mails with HDFC and one Mr. Balkrishnan, HDFC, Kamla Mills Compound, Lower Parel, Mumbai, almost treated matter as closed on his presumption only. I gave them the proof of my shares delivery to HDFC and thereafter he stopped replying my E-mail. When I approached the HDFC Branc I have account with, their representative ORALLY said it is his mistake and he said, if I press further, he will pay from his pocket - bank will not pay. Todate matter is remaining as it is.

This is just to show an example of their Ethics, Process, Efficiency and Peoples Skills.

REGARDS
NRE INVESTOR
SARVAM KRISHNAARPANAM...

To NRE Investor I read the contents just now. I want to share my experiences. As a bank, it is good and give their best srvices. If you know somebody, as in any Indian Istitutions, things will move quickly. As regards the demat services,the general rule under civil law is that the agent is just a substitute for the principal and the principal is squarely responsible for all the commmission and ommission of the agent. Here the DP has acted on your behalf. Just like an agent. You have to apply for the duplicate certificate as per the terms of the company and get it. In your case the DP is not necessary to meet the expences even.Just consider a ch. put for collection and lost. The bank is not responsible for the value involved and will give you a letter that the same taken for collection is lost and not fully processed to credit the proceeds in your/any other account. I got a dividend warrant for over 750 rupees from Goddlass nerolac long back. There I got this experience In Bank Of India. In Madura Mills Ltd , I presented the certificates for transfer in their office at Madurai directly and the company lost it. When I produced their acknowledgement, they issued a notice in the press and issued a duplicate certificate at their cost. Of course, they got an indemnity letter from me that I will surrrender the old one, if I came across by chance. When I purchased the shares of Calico mills, My Brokers at Chennai M/s. Dalal & co lost my certificate while they were sending it for transfer. They accepted the issue involved and requested me to apply for the duplicate. When I wrote to the company, I got a reply that the shares are not yet transfered in your name and I had to retrace the stps through my broker. Dalal agreed to the point and replied that they have to take up the matter with the original broker and in the mean time, he will purchase the shares from the open market and settle my dues including transfer. they did so. Just think what will we do if it is sent by registered post and lost in transit.We complain to the post office and then we have to bear with their reply that they are not responsible, as it is not insured. As you(we) normally give the share certificate and 'DRF' form, there is a very thin chance for forging a transfer deed, to get the shares transferred in that fellow's name. When I am delivering the documents, I insist the counter clerk at the DP office to put their stamp in the share certificate--"Cancelled for demating the contents" and then leave with their acknowledgement. For my brother, the DP wanted to take his own time to cancel the certificate and gave the ack. only. That case went through well. From the next time onwards, I advised him to cancel the certificate before presenting the papers. So,You can derive your own decision out of my experience. I am a retired LIC official,now in USA and a student of actuary. v.krishnamoorthy...

After reporting the loss of share cert. duplicate share certificate can be obtained from the co. But you suffered fin. loss as you could not dispose the shares. If you have the time and desire and energy to fight consumer courts could be approached for compensation....

sarvam, u sound like a cry baby..we tlking off the exposure of the bank and banking sandards..stop crying.....