Email August 4, 2007
I then had a meeting with the people at Kotak Bank here in Ahmedabad and it took some time for it to percolate into their heads that it was indeed an error on the part of Kotak Bank. The babus took a lot of time but finally came to a decision; but they added a couple of clauses and then sent me the following mail:
----- Original Message ----
From: Mayank Patel //Kotak /Bank mayank.patel@kotak.com
To: *****
Cc: Ajit Pillai //Kotak /Bank ajit.pillai@kotak.com
Sent: Saturday, August 4, 2007 6:13:16 PM
Subject: OD against MF problem
Dear *****,
As per our today¢s discussion, your online portfolio of Standard Chartered Enterprise equity fund will be converted into offline portfolio based on written request given by you. The same request letter will be submitted on Monday and we will get back to you if any more procedure will be required for the same. Online to offline portfolio conversion will take around 5 working days, as per confirmation from standard chartered AMC.
Once the portfolio gets converted to offline form, we will start for OD formalities for which required documentation would need to be submitted. These documents after the above said procedure.
After the submission and completion of formalities this matter would be put for the necessary approvals & based on which we would get back to you.
Your ahmedabad¢s savings a/c ***** would be linked to proceedings of standard chartered enterprise equity fund in which you have invested Rs. 50,000. You would be required to submit in advance redemption request for this closed fund. Your a/c has to be in actively operating mode till then as per the product requirement.. We would be looking forward to sanction 50% of the face value of your Mf investment value done in Standard Chartered enterprise equity. The rate of interest for OD would be in the range of 18% to 20% (other process charges are applicable as per the product designs).
Hope this clarifies your all doubts and looking forward for a healthy banking relationship ahead.
Thanks & Regards
Mayank Patel
Relationship Manager
Satellite Branch
KMBL
Ahmedabad
----- Original Message ----
From: Mayank Patel //Kotak /Bank mayank.patel@kotak.com
To: *****
Cc: Ajit Pillai //Kotak /Bank ajit.pillai@kotak.com
Sent: Saturday, August 4, 2007 6:13:16 PM
Subject: OD against MF problem
Dear *****,
As per our today¢s discussion, your online portfolio of Standard Chartered Enterprise equity fund will be converted into offline portfolio based on written request given by you. The same request letter will be submitted on Monday and we will get back to you if any more procedure will be required for the same. Online to offline portfolio conversion will take around 5 working days, as per confirmation from standard chartered AMC.
Once the portfolio gets converted to offline form, we will start for OD formalities for which required documentation would need to be submitted. These documents after the above said procedure.
After the submission and completion of formalities this matter would be put for the necessary approvals & based on which we would get back to you.
Your ahmedabad¢s savings a/c ***** would be linked to proceedings of standard chartered enterprise equity fund in which you have invested Rs. 50,000. You would be required to submit in advance redemption request for this closed fund. Your a/c has to be in actively operating mode till then as per the product requirement.. We would be looking forward to sanction 50% of the face value of your Mf investment value done in Standard Chartered enterprise equity. The rate of interest for OD would be in the range of 18% to 20% (other process charges are applicable as per the product designs).
Hope this clarifies your all doubts and looking forward for a healthy banking relationship ahead.
Thanks & Regards
Mayank Patel
Relationship Manager
Satellite Branch
KMBL
Ahmedabad
posted by Ananth at
1:44 PM
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