Axissecurities.in — Financial Loss to the tune of approx 8 Lakhs

I have been a customer of Axis Securities for last two years. I have been trading only in Stocks. On couple of occasions the trader from Axis securities insisted on trading in currency and I had specifically told them that I do not understand Currency, Futures and Options.

I was in bad need of money and hence I requested Axis securities to liquidate all my stocks and transfer the money to my account, They liquidated my stocks on December 1, 2022. However they did not transfer the money to my account. On December 2, 2022 the Trader in Axis securities invested my money in Options trade with our taking my confirmation or even informing me.
On 5th of December 2022, trader casually called me to state that she had invested my money in Options and I will get my money in few days. However on on this day she did not give me any details.
On 12th of December the trader called me and said that the Options call was wrong and my entire money is lost. She said that she would pay the entire money to me from her own account. However nothing has happed till date.
Since then I am following it with Axis securities and their management and they have agreed to compensate me with 3.5 Lakhs as against a loss of approximately 8 Lakhs.
Now I am told that the trader is absconding.