ICICI Securities — trading account

Address:

Thane West, Thane, Maharashtra, 400604

ICICI SECURITIES: ICICIdirect.com

https://www.icicidirect.com/ Trading a/c

My daughter has the above where her mother is second holder/joint holder.

My daughter has a Demat a/c with Union Bank Of India, and as advised by Mr. Pankaj, Relationship Manager of ICICI Bank, I complied with certain formalities o[censored]BI.

Reply received from UBI, which is self-explanatory, is as under:

Quote:

WE HAVE DONE THOROUGH VERIFICATION OF DOCUMENTS PROVIDED BY YOU FOR SHIFTING AND CLOSURE OF BO – 381708 AND FOUND FOLLOWING IRREGULARITY IN IT:-

• THERE IS ONLY ONE HOLDER IN DEMAT ACCOUNT WITH UNION BANK OF INDIA BUT THERE ARE TWO HOLDERS IN THE DESTINATION DP i.e. ICICI BANK LIMITED. FOR THE PROCESS OF SHIFTING AND CLOSURE, THE BO AT BOTH THE DP(OUR DP AND DESTINATION DP) AND THE SEQUENCE OF BO HOLDERS(IN CASE OF MULTIPLE HOLDERS) HAS TO BE SAME. BUT IN THIS CASE THE NUMBER OF BO IS DIFFERENT HENCE IT CANNOT BE CLOSED THROUGH SHIFTING AND CLOSURE .
• THE ACCOUNT CLOSURE FORM 10.1 IS NOT HAVING SIGN OF THE ACCOUNT HOLDER.


Regards,
Demat Department
MS Marg Mumbai
Union Bank of India

Unquote:

I approached the customer service of ICICI Bank with my problem when the gentleman there said UBI will transfer once I send my papers to them. As the conversation was not reaching anywhere I suggested to that person that I will pick him up in a Taxi and take him to UBI so that he can interact with the UBI person directly. Then ICICI person said to talk to Mr. Pankaj.

I called up Mr. Pankaj this morning at 9.50 and before I could narrate my story, he was interrupted by his senior’s call and so Mr. Pankaj excused himself.

It is 8.30 PM and Mr. Pankaj has not had the decency/courtesy to call me back as yet.

I reproduce from TOI, Mumbai today: No institution should insulate itself from improvement.

It is the most decent advice.