Administration Manual - B.E.S.T. Undertaking.

1163
approved by the Reserve Bank Of India. In case of having SGL A/c, investor can
opt for delivery mode as SGL instead of physical if the seller is having SGL A/c
and security is in SGL format and any interest due, put/call option/redemption
proceeds are directly credited to the Bank A/c with whom SGL A/c is maintained
by the investor. There is no physical holding of certificates/bonds under this
mode. We have maintained SGL A/c No. CSGL 003 and CSGL 004 and Current
A/c No. 27254 and 27274 with Indian Bank, Fort Branch in favour of BEST
Undertaking and BEST Undertaking P.F. Trust respectively.
The charges levied by Indian Bank and HDFC Bank for SGL A/c are as under :-
Description Charges
Indian
Bank
Account Opening
charge
NIL NIL
Transaction charge Rs.250/- per
transaction
NIL
Collection
interest
of NIL NIL
Quarterly statement NIL NIL
Service charges Rs.500/- per half
year per A/c
NIL
Conversion from physical Rs.250/- per
NIL
to SGL
certificate
Charges
HDFC Bank
Initially this accounts was opened with service charges mentioned above with Indian
Bank. The matter was therefore taken up with the Indian Bank for waiving the aforestated