Alliance Research — Misrepresentations, inducement, fraud and cheating

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New Delhi, Delhi

From: "sanjeev malhotra" Fri, 26 Jun '15 6:04a
To: "complaints " and others
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Dear All,
Inspite of my calls to Pathak and Praveen, nothing is happening. I think the Company pays them only for defrauding people. Please pay within the next 24 hours to avoid legal action and treat this as a final reminder.
Regards,
Sanjeev Malhotra
Advocate


From: "sanjeev malhotra"
Sent: Wed, 24 Jun 2015 08:19:15
To: "[protected]@allianceresearch.in", "[protected]@allianceresearch.in"
Cc: "[protected]@alliancesearch.com", "[protected]@allianceresearch.in"
Subject: Misrepresentations, inducement, fraud and Cheating by your Mr. K.K. Pathak and Mr. Arun
Dear All,

This is to bring out a well planned conspiracy to firstly misrepresent, then induce, play fraud and cheat by your Mr. Pathak / Arun.

During the last week, Arun called up saying that the Company is a SEBI registered financial investment advisory company and renders advisory stock tips. Based on the telephonic conversation with him. I was provided with some stock tips for a day or two, on which I had to keep a watch. After that on his constant follow ups for being a member, I decided to be a member.

On Thursday June 18, 2015 Arun called up in the evening and then transferred the telephone line to his superior Mr. Pathak. Mr. Pathak, while reiterating the representations, also reiterated the rosy picture projected by Arun and while referring to the advantages / salient features of being a HNI Member as shown on the website, stated that as a special case, he has got approval from his superior for my membership as follows:
(1)One month membership Rs. 20, 000/- instead of Rs. 25000/- ;
(2) Rs.10, 000/- to be paid immediately and after I make profit of around Rs. 35000 to Rs. 40, 000/ on the basis of their stock advice within next 10 trading days, the balance Rs. 10, 000/- to be paid and thereafter, the one month membership will start.

That on the basis of such representations and that w.e.f. Monday June 22, 2015, I would be getting the services as also shown in the website, I made a payment of Rs. 10, 000/- on that day i.e. Thursday through my SBI Credit card, based on their promises and representations as referred above.

That on Monday and Tuesday i.e. June 22, 2015 and June 23, 2015, I received calls from Mr. Pathak and Arun regarding trades in SKS Micro, Yes Bank, Rallis India, Lambodhara Textiles and Arvind Mills. Yesterday around 2.00 P.M., I told Arun and Pathak that on their recommendations, I was having a loss of Rs. 4000/- after adjusting the profit of Rs. 1200/- in Lambodhara.

After some time, Arun called up and said that this loss was due to that fact that my HNI services were not yet activated and that I was only getting basic calls. To my shock and surprise, I asked him that why I was given basic calls for trades when I made the payment as per HNI category, he told me that he and Pathak will call after market closing.

Then around 4.30 P.M. yesterday, one Mr. Praveen calls up and says that he is from accounts department and that I should make payment of balance Rs. 15, 000/- so that my HNI services can be activated. I told him about the above facts and told him to take Pathak on conference. During the conference call, I again reiterated the above facts and after taking into account the said facts, Praveen told me that he himself is surprised and that he will call back after discussing with Pathak.

That immediately after the conference call, I called up at the registered office of Alliance Research at [protected] and I spoke to Ms. Madhuri / sales head and she said that she will call back in an hour's time. But that hour has not yet come.

That it is clearly established that on the basis of the misrepresentations made by Pathak and Arun, I was induced to make a part payment of Rs. 10, 000. A total fraud has been played upon me and I have been cheated. I have been made to suffer a loss of Rs. 4000/-.

That while reserving my legal rights for deficiency of services, compensation, criminal proceedings under Section 406 / 420 I.P.C and redressal through SEBI and other authorities, I call upon to credit an amount of Rs. 10, 000/- and Rs. 4000/- into my bank account as per the details below:

P.N.B. Saving Account number: [protected] Community Centre, Janak Puri, New Delhi 110058
IFS Code: PUNB0150300 MICR :[protected]


This be done within 24 Hours under intimation to the undersigned, to avoid civil, criminal and regulatory proceedings.

Regards,

Sanjeev Malhotra
Advocate

Tel: [protected]