Frauds Can be done in IPO payments?

cmnet123 · 1 Frauds Can be done in IPO payments? Thu Jun 16, 2011 12:24 am

cmnet123

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Dear friends..! This is only my thought. When we attach a cheque with the IPO application can't some one separate it and attach to a new application form with a different name? Do brokers or other collection points (banks..etc ) give a certification form saying that they obtained our application? Need advice as it is my 1st IPO applying?

aladdin · 2 Re: Frauds Can be done in IPO payments? Thu Jun 16, 2011 12:34 am

aladdin

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Hey brother, in ur application form, you have a place to mention your cheque number and the bank, etc details. Also if ur handing it to ur broker, it goes with a seal on ur application form. And another way is have ur own current account and issue ur own cheque rather than going for pay orders. I think its cheap for u also.

And if your obtaining a pay order, u can do a reference saying it is from your name. That you have to tell ur bank specialy.

All these measurements will stop frauds.

Hope this bit katered ur requirement

Fresher · 3 Re: Frauds Can be done in IPO payments? Thu Jun 16, 2011 8:17 am

Fresher

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Just gave it a though and realized it could be possible.
But in the end it sure is traceable and the fraud can be identified easily if detected.

I personally mail the application to the company secretaries

duke · 4 Re: Frauds Can be done in IPO payments? Thu Jun 16, 2011 8:52 am

duke

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It can be only deposited in the IPO account and they can track it. So there's nothing to worry.

thushanthas · 5 Re: Frauds Can be done in IPO payments? Thu Jun 16, 2011 9:08 am

thushanthas

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cmnet123 wrote:Dear friends..! This is only my thought. When we attach a cheque with the IPO application can't some one separate it and attach to a new application form with a different name? Do brokers or other collection points (banks..etc ) give a certification form saying that they obtained our application? Need advice as it is my 1st IPO applying?

If you apply with a payorder you may ask the bank to issue the p/o with your name and cds ac no on it. ( eg. Valible One Limited - Initial Publoc Offer a/o YOUR NAME & CDS AC NO. ) or write the check from you own account as the same manner.

cmnet123 · 6 Re: Frauds Can be done in IPO payments? Thu Jun 16, 2011 10:36 pm