[Resolved]  ICICI Securities Ltd — Complaint relating to deficiency

To,
ICICI Bank Limited,
“Land Mark”, Race Course Circle,
Vadodara-390 007.


Sub : Complaint relating to deficiency/malfunctioning in banking and other services (leading to financial loss of approx. Rs. 10 Lac) in Saving Account No.[protected], [protected] and[protected] of ICICI Bank, Gorakhpur.

Sir,
With due respect, I (Satyapal Yadav) wish to inform you that in October– November 2006, ICICI Bank Gorakhpur Opened a Saving Account No.[protected] and a Demat Account No. IN[protected] on my name. Later on, in March 2007 my Demat Account was attached to a Sub-Brokers DBC, but no new login ID & Password was provided to me.

In February – March 2007, Saving & Demat Accounts of My wife Smt. Sarita Yadav (Sav. A/c No.[protected] & Demat A/c No. IN[protected] and my father Sri Mahatam Yadav (Sav. A/c No.[protected] & Demat A/c No. IN[protected] were also opened by ICICI Bank Gorakhpur. But, ICICI Bank never provided client ID & Internet Banking password, and login ID & Password to the Account holders.

Instead, the Bank/Brokerage (DBC) officials without my, my wife’s or my father’s knowledge, information and consent started transferring money from Saving Account to Demat Account and Started investing at their will. I came to know this malfunctioning of the bank in July 2007 and contacted the Bank Officials. They accepted that they illegally got access of Internet Banking password & Client ID of the accounts and have done illegal investments/Tradings and have lost some money. This illegal practice was adopted in all the three said accounts.

In the meantime, I came to know that this practice was adopted in all other accounts also, which were attached to DBC of ICICI’s Sub Broker –Shailendra Kumar Yadav, 11, Kundan Complex, Opp. Bobina Hotel, Gorakhpur – 273001 (Copy of Registration certificate issued by Securities and Exchange Board of India is enclosed). On 20.8.2007 I personally went to the DBC’s address, but to my great astonishment, I found the office closed. On further enquiry I was informed that the said office was locked since July itself and none of the officials ever come to the office and the sub-broker was no more traceable and all the account holders are probably cheated. In the mean time on contacting. Mr. Saroj Samal (Mob. No. [protected]), Head DBC North Zone, I was told that necessary steps are being taken in the matter and they have suspended/Deactivated the DBC.
In this situation it is informed that the total cash money involved till date in the above said three accounts is approximately Rs. 10Lac (Rs. 7Lac in A/c No.[protected], Rs. 1.5 Lac in A/c No.[protected] and Rs. 1.5 Lac in A/c No.[protected] and any responsibility of money loss or illegal transaction solely lies on the part of Bank. Further it is to bring to your kind notice that despite repeated personal requests, I have not got any proper response from your Gorakhpur and Lucknow Authorities. Therefore the matter is being referred to SEBI & CVC also for necessary action. Hence, you are requested to enquire about non adherence to the fair practices code as adopted by the bank and violation of the directives issued by the Reserve Bank and duly compensate our money (Rs. 10Lac- including my wife’s and father’s Account) taking in account the financial loss harassment and mental anguish suffered by us. Early action in the matter is solicited. Thanking you,

Address – Official – Central Excise & Customs, Opp. Kuchehary Bus Stand.
Kalepur, Gorakhpur – 273001
Resi. - Purani Police Chauki, Shri Rampuram, Mohaddipur, Gorakhpur
– 273008
Yours

(Satyapal Yadav)
Mob. No. [protected]
Email; [protected]@rediffmail.com