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[Resolved]  IPP Global technologies Pvt Ltd — Abnormal Charges and Debits

Tuesday, October 20, 2009 3:10 PM
To: '[protected]'
Subject: FW: Abnormal Charges

The Sr Vice President (Compliance),
Zonal Head, Axis Bank,

Dear Sir,

1.I am taking this opportunity to convey my unhappiness reg the services rendered by Hyderabad branch.
2.Almost 1 month ago I went to the Branch office to met the Head Of the bank, on the issue of abnormal charges levied onus.
3.Since he was not there I sent an e-moil on 20 Sep and followed it up on 29 Sep 09.
4.However it is regretted to say so far I have not got any communication from the Sr Vice president Mr L Sriraman.
5.I would request you to kindly go through our problem areas.
6.Since our is an up coming software company, we want to be encouraged to have the acctg in your branch, rather than remaining silent .
7.In case the bank is unable to support, please let us know.

TRhanking You,
Yours sincerely,
V v s rao
IPP Global Technologies Pvt Ltd

From: Col Sivarao [mailto:[protected]]
Sent: Tuesday, October 06, 2009 11:03 AM
To: 'l.[protected]'
Subject: Abnormal Charges

The Sr Vice president,
Axis Bank, Hyderabad

Dear Sir,

1.I had sent an e-mail on 20 Sep 09 reg the abnormal charges being made by your bank.
2.I am sure you would have gone through our problems and the reasons for your consideration.
3.While you may be preoccupied with some other issues, I would request you to through our letter and do the needful.

Col v v s rao (Retd)
IPP Glibal Technologies


No. IPPGTPL/Axis Bank/01 Dt 29 Sep 09

Senior Vice President
Axis Bank,
Hyderabad Branch,
Hyderabad - 500 016


1. With reference to our Current A/c No ………………15905 , it is observed that on 28/08/09, nine debit entries of Rs1103=00 have been made in our account.

2. While it was firstly not done with our concurrence, this automatic deductions are very high,abnormal, and improper, the least we would say.

3. When the undersigned enquired from your office concerned in the Foreign Exchange Dept, they said that it was for Softex Form preparation ( Rs 1000/= per form plus tax).

4. It is rather surprising to know that your bank charges for a work which is done by us and not by Bank.. I cannot imagine that just for endorsing on FIRC paper, your bank charges so much which is totally inconvincing , not rational and upsetting.

5. You would be aware that ours is a startup company and is barely 3 years old. We are yet to get into smooth business operations of Software Projects and been in losses over last 2 years.

6. Your Bank has charged for a Form 9 times Rs1103/= which is unaffordable to us and well neigh impossible to accept such heavy deductions.

7. I would request you to address this issue rather seriously and with due consideration, with your Head office to impress upon them that small / startup companies cannot afford such advlorem deductions at par with well – doing- software companies.
8 In view of above, I would request you to “Reverse” the debit entries so made.

9.Alternating your Bank should immediately reverse the rates for the new companies for 5 years, should keep as nominal amount of Rs100/= per Softex form endorsement, which would be reasonable and affordable for us to pay.

10. I shall be grateful if you could kindly look into the whole issue and render reversal of the debit entries so 30 Sep 09

11.Infact I had sent a similar request letter on 21 Sep 09 and when I enquired today ie 29 Sep 09 from the Forex Dept , they said they received and not yet put up to you …..!!

Thanking You,

Yours Faithfully

Col V V Siva Rao (Retd)
Director / CEO
Complaint marked as Resolved Aug 14, 2020
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