I have an online trading a/c with sharekhan and my holdings with them are in NSDL. Due to brokerage difference, and to minimise loss that I have been hitherto incurring year after year, I decided to open a/c. with India Bulls. I requested SSKI to issue me Delivery Instruction Book to facilitate consolidation of shares by transferring to India Bulls. SSKI asked me to submit written request alongwith photo ID proof through any of their offices. Accordingly, on 28th June 06, I submitted written request duly signed by joint holder, along with details of CDSL DP A/c. with zerox copies and Zerox COPY of PAN with client master updation form at their Borivili Office on 28th Jun 06. The person receivng the documents received the documents with the assurance that it will be sent to their HO by next day, but refused to acknowledge and asked me to visit next day again; if I required acknowledgement.

As no delivery instruction book has been received by me, I reminded SSKI thr: e-mail dated 7th July. On 11th I got the mail from SSKI asking me to find out the status of my application on my own from their Borivili Office.

Readers kindly advise me : (a) Once I personally submitted the documents at their Office, am I supposed to go again to find out the status of application as if I do not have any other business? (b) Whether SSKI is justified in asking for PHOTO -id proof just to issue delivery instruction book even after submitting written request? (c) Eventhough SSKI was good at customer service in the past, I have been continuously facing problems with SSKI one after another, mainly in updating client's master, BSE online etc. It is then that I decided not to rely on one broker. (d) Even SSKI's brokerage is very high. This was effecting my profit margin since my transactions are with minimum quantity as I am not in a position to take any risk.

But SSKI's action seems to be against the Statutory regulations.

Will the readers please enlighten me on the above?.


Well-Known Member
just wait for 2 weeks, reliance is coming into brokg services-rtrade.
their charges are Rs.15/- per trade and thats it. NO OTHER CHARGES.
its going give a run for money for all other brokerages, who are doing daylight robbery by charging high brokerages.