Fw: Documentary proofs to be provided while transferring fund through Demand Drafts/Pay orders/Bankers cheque in favour of India Infoline ltd.

 

Sub: Documentary proofs to be provided while transferring fund through Demand Drafts/Pay orders/Bankers cheque in favour of India Infoline ltd.

This refers to policy of IIFL on acceptance of Demand draft (DD) /Pay Order (PO)/Bankers Cheque (BC) from the clients requiring the following   

1)      Demand draft to be strictly in name of "India Infoline Ltd-(8 digits Login ID of client)'.

2)      Proof from the bank /customer from whose account the Demand draft/Pay order is drawn.

 

SEBI  vide its circular dated  June 09, 2011   has now directed that  Demand Draft, Pay Order, Banker's cheque, etc can be accepted only if the same is accompanied with the proof of the name of the bank account holder and number of the bank account debited for the purpose duly certified by the issuing bank.

 

In view of the SEBI directives and as per policy of IIFL, following needs to be ensured by clients while transferring fund in favour of India Infoline Ltd. through DDs/POs/BCs:

 

1.         All DDs/ POs/ BCs should be strictly in name of "India Infoline Ltd-Account (8 digits Login ID of client)'.

 

2.         DDs/ POs/ BCs should be accompanied with any one of the following:

 

a.    Certificate from the issuing bank on its letterhead or on a plain paper with the seal of the issuing bank.

b.    Copy of the requisition slip (portion which is retained by the bank) to issue the instrument duly certified by the Banker.

c.     Copy of the passbook/bank statement for the account debited to issue the instrument certified by the Banker.

d.    Authentication of the bank account number debited and name of the account holder by the   issuing bank on the reverse of the DD/PO/BC.

 

3.         In case the value of DDs/ POs/ BCs provided is less than Rs.50,000/- per day, any of the following additional documents can also be accepted as proof:

  

a.    Copy of the passbook/bank statement for the account debited to issue the instrument certified by the client.

b.    Demand Draft having name of the client as drawer on DD.

c.     Copy of Debit mandate letter issued by client to bank for issuing Demand Draft duly certified by the client.

d.    Copy of Bank acknowledged Transaction slip for making Demand draft by the client.

 

Further, in case DD/PO/BC provided is for an amount of Rs. 25 lacs or above, client shall additionally be required to submit a proof of source of funds used for making the DD along with the self declaration.

 

Hereafter, all Demand Drafts, Pay Orders, Bankers cheques would be accepted only if the above documents are received along with the instruments. Any demand draft received from client without the above proofs will not be accepted /credited to the client's account.

 

If you require any clarifications or assistance, you may please contact your respective Relationship Manager or write to us at cs@indiainfoline.com or reach our Customer Care Desk at (022) 40071000.

 Assuring you of our best service at all times.

 

Regards,

Customer Service

IIFL