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[Resolved]  HDFC Bank Securities — Charges for Physical delivery of Contract notes

I am doing transections online thru HDFC Sec. for last 2-3 yrs. I was
getting Contract Note in PHYSICAL FORM and by E-mail till 15-10-08.
Since last 2 months I recive only e-mail notes. on enquiering I was told
that for physical form It will cost Rs.28 per note.(As courrier charges Rs.25/- and Rs.3 S.T.) They are using Vichare Courriers, who charges Rs.10-12 for in and arround Mumbai. They want to even earn out of Cost Cutting !!!
My Accountant has told
to get contract notes in Physical forms only for Income-tax purpose.
I recieved a phone call today from Ms.Seema from HDFC Sec stating that if
my e-mails are bounsed they will send contract notes in Physical form, does
this mean I close my e-mail A/c ?.
As per SEBI Rules it is mandatory on part of Brokers to give Contract note in Priscribed Format.
If this is a cost cutting measure you can send it quarterly to reduce
cost.
Please let me know legal standing as you can not expect every customer to have printing facility.
Thanks
Dr.Ramesh
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Complaint marked as Resolved Aug 14, 2020
Complaint comments  1 CommentShareTweet

Comments

i am 100% agree with Dr. patel. any broker in india can not charge for physical contract note which they issue to their clients. i have legal documents from sebi that sebi has never issued any order or circulear allowing broker to charge for physical contract notes

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    HDFC Bank
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    61%
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