i am working as a sub broker with aditya birla money Ltd. i sent an a/c opening application for one of my prospective client to the Activation Department. As a address Proof , the client gave the bank statement in which she is a second holder and first account holder is the husband of the client.the application has been rejected by the Activation department by saying Address proof required in the name of client.
the bank statement shows that
Suneet kumar saxena
Deeplai saxena
s/o Gopal Lal Saxena
Govind Colony
Rampur-244901
Uttar Pradesh
the activation department has objection that who is gopal lal saxena.i told them that you should not have concern about who is gopal lal saxena beacuse it is written in address part and it is customary that owner of the house or father's name is written in the Address part when there is no door no. available.but activation department is not satisfied with my views.
then i again sent another bank account statement in the name of client where she was the sole holder and address was the same and as follows .
c/o gopal lal saxena
govind colony, rampur, up-244901
but now they are considering the address as a third party address because C/O is written there.and they gave the reference of sebi circular no.
In attached bank statement the word of "C/O" mentioned hence we can consider this case as "Third party" and we need below additional documents from client along with permanent address proof as per NSDL circular.
" Acceptance of third party address as correspondence address in depository account [SEBI Circular No. CIR/MRD/DP/ 37 /2010 dated December 14, 2010 (Circular No.: NSDL/POLICY/2010/0132 dated December 15, 2010)]
a) Client can also provide third party address as correspondence address in depository account provided Participant ensures that all prescribed „Know Your Client‟ norms are fulfilled for the third party also.
The Participant shall obtain proof of identity and proof of address for the third party. The Participant shall also ensure that customer due diligence norms as specified in Rule 9 of Prevention of Money Laundering Rules, 2005 are complied with in respect of the third party.
but i again reply them that because according to sebi circular spouse address may be accepted as a proof of address plz accept the client's husband address as her address but then they again give the same excuse that because in address part of the client's husband S/O(Son Of) is wriiten so they also consider father as a third party.
i read the sebi circular but Sebi did not define anywhere what is third party. so please tell who can be a third party,? can a father be a third party in respect of above discussion?
"Suneet kumar saxena
Deeplai saxena
s/o Gopal Lal Saxena
Govind Colony
Rampur-244901
Uttar Pradesh
"
Thanks and Regards
