HDFC 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

Company: HDFC Securities
Country: India

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