[Resolved]  Religare Securities Ltd. - PMS Division — Unilateral attempt to close two (2) pms a/cs

Details of PMS a/cs: - Customer Code: 266910 & Two (2) Portfolios; viz. (i)Leo (Client Code-101845) &
(ii) Infrastructure (Client Code-102179)

1. As advised by the company, we enclosed the (i) ‘Identity Proof’ of Mrs. Kamala Dutta (Photocopy of PAN card) and (ii) ‘Address-proof’ of both Mr. Bhuban Dutta and Mrs. Kamala Dutta (Front page of Bank Passbook-SBI) along with our letter dtd. 29. 06. 09, in order to fulfill demat A/c opening requirements. Again, when telephonically following up, we were informed that the documents were received by you and in case of any short coming you would inform us duly. Having received nothing during the intervening period, we were complacent and construed that the Demat A/c had been opened!

2. But their letters of 23rd July 2009 (Received by us on 25th July) only racked up the matter all over again and made us to suspect the intent and purpose.
If the company had any suspicion about the veracity of information submitted by bona-fide investors / customers, why did they entertained the two investments [Rs. 5, 00, 000/-, each], two/ three years ago at the first place ? Again, why these information could not have been cross-checked and verified through their local office at Guwahati ? Can they not even trust your own officials here ? We definitely have the qualm to understand that in the name of adhering to the broadsides of the SEBI directives, they are trying to bewitch and deprive a genuine customer/ investor with a bizarre formulation of theirs!
We are more than convinced that with total disregard to your Investor’s/ Customer’s interest, they are wholly and unilaterally bent upon closing & terminating the Portfolio Management Agreement to suit their own vested interest only.

3. ‘Hope you would take forthright cognizance of the views of otherwise imperiled, smalltime and salaried investors like us and take positive action from your end. We also request you not to allow the company to push us against the wall any harder.

Thanking you,
Yours sincerely’

Mr. Bhuban Dutta.
Mrs. Kamala Dutta.
[Customer Code: 266910]