[Resolved] BMA Wealth Creators Ltd — UNAUTHORIZED TRADES

U

upadhyay_hemant82

from Mumbai, Maharashtra

Address:

Vadodara, Gujarat

Dear Sir/mam,

I my self Hemant Upadhyay working with India First Lifeinsruance Co Ltd, and i have invested Rs.200000 in BMA in d mat account and they have comit me as per my comunication only they people will trade in my account but though my instruction they have done coninusly trading in my account, and when i have ask them to give me clarification they just deny and atlest after my lots of request o[censored]pdate my email id and new phone nos they just delaing the same,

no confrimation after trades, no contract notes, faike holding statements, and always not picking up phones on times,

i have not given cash for depositing in my account in last 3 to 4 months though my ledger balance showing credit entry for that. daily trading in future and option,

right now i am just mailing you but and i am going to filed a complaint in police,,,, pls let me know fast explain me what is this ?????????

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Aug 13, 2020

Complaint marked as Resolved

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G

goombaj

from Mandleshwar, Madhya Pradesh

If your stock broker BMA Wealth Creators have conducted unauthorized trades in your account, you are not alone. In fact, in percentage terms BMA Wealth Creators gets six times more complaints than any other stock broker as per the report 1c filed by NSE in the following links: http://www.nseindia.com/invest/content/arbitration_reports/report_1c_2012_13.htm...⇄ http://www.nseindia.com/invest/content/arbitration_reports/report_1c_2011_12.htm...⇄

If you calculate (No of complaints received against the TM/No o[censored]CCs at the beginning of the year)*100 for every trading member you will find that the statistic for BMA is an outlier for last 3 years.

Now the question is why NSE ignores such a repeat offender ? Perhaps because they have on NSE Executive Committee Mr. Anubhav Bhatter Managing Director & CEO, BMA Wealth Creators Ltd. http://www.nseindia.com/content/us/us_ec.htm

How to act when BMA Wealth Creators Ltd has conducted unauthorized trades in your account ?

1. Write a letter to BMA informing them that trades have been conducted in your account without your consent.

2. Complain to SEBI through their online complaint portal http://scores.gov.in/Complaint.aspx?flag=n .SEBI will forward your complaint to NSE. Do not complain to NSE directly because NSE is not under the ambit of RTI.

3. File an FIR with the police. Remember BMA is a habitual offender and are tough nuts to crack.

4. BMA Wealth Creators Ltd must reply to NSE within one month as per the SEBI circular: http://scores.gov.in/Complaint.aspx?flag=n. However, chances are you will not get any reply from them. File reminders through SEBI SCORES website. NSE maintains an online audit complaint trail. If no reply comes within one month file an RTI application with SEBI demanding what action has been taken on your complaint. This speeds up the normally inactive NSE ISC department. Write a letter to SEBI why no penal action is taken against BMA for not replying within one month as per the above circular..

5. If the amount involved is very big, hire a lawyer and file a suit with the high court.

Remember that you are not only up against BMA but BMA + NSE. Act fast. If you have also been cheated by BMA and have any suggestions please share here so that others may benefit.

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