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Jainam DedhiaJainam Dedhia asked 12 months ago

I need Clarification on the following procedure that has been mentioned in Module & Param Notes :
a) Obtain Confirmation from counter – party banks for Bank Receipts issued by such Bank

  1. What is Bank Receipt ?
1 Answers
Best Answer
RaviRavi Staff answered 12 months ago

Bank A pays 50 crores to Bank B to buy investments 
 
Bank B says i am not having physical share / investment certificates with me right now, they are in transit, will give it to you in next few days, till then take this bank receipt as proof that you paid us 50 crore and delivery is pending, our high profile officers will sign it and give it to you
 
after some days bank B will give certificates and take back and cancel BR 
 
in harshad mehta web series 
 
harshad mehta takes money from 1 bank and gives BR
 
as on today only bank can issue BR to other bank

Jainam DedhiaJainam Dedhia replied 11 months ago

Additionally need clarification on “Obtain Confirmation Subsidiary General Ledger Balances with Public Debt Office”
What is SGL with PDO ?

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