You mean to say LHTI and not LTI.
----- Original Message -----
From: "amarnath de" <amarnath.de...@hotmail.com>
To: <accessindia@accessindia.org.in>
Sent: Saturday, October 30, 2010 7:51 PM
Subject: [AI] attestation of LTI's through notary by sebi
Hi all,
Hope, you are doing well. Now I would like to draw your kind attention
regarding a problem of the persons like me who use LTI to avoid mismatch
of signatures.
In the banks though the problem has to some extent solved instead of a few
instances, but when we use LTI in our demat accounts of for purchasing of
mutual funds/bonds the banks demands attestations of LTI's through
notaries. No other authorities are valid to attest the LTI including
gazzeted officers.
In my view it is an unnecessary harassment and unnecessary wastage of
money. Because in Delhi the notaries charge RS. 20-50 per attestation. And
in forms of mutual funds/bonds there is more than 4-5 signatures. So it
costs 100-250 rupees to complete a form. If we go to make some correction
like address, spelling of names or email etcetera then also they demands
attestation by banks.
The bank says the rules has been formed by sebi and they have nothing to
do.
Now my question is: why the attestation by the gazzeted officers are not
valid? Is it not encourages the unfair trade practice by the notaries? is
there no option? I think when a person has been introduced by the bank,
there is no need of such troublesome process. And I would request my
friends to take the matter with the SEBI.
Can you help us to take the matter with sebi and try to find out any
permanent and acceptable solution?
Regards.
Yours sincerely,
Amarnath De.
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