Ritika Baliyan employee of Unicon Securities called me on 25th October 2011 seeking permission to trade in my account for that day (Expiry day). At first I refused but she told that she is a smart trader and is a part of Unicon Advisory panel.
She committed that in the worst case the loss will not extend more than 10000 Rs and she will try to maximize a profit of Rs. 40000-50000. I asked her that are you sure that losses wont go beyond 10,000 Rs and I was told that this will happen at the worst condition. I had trusted the financial adviser appointed by Unicon Securities and permitted her to trade on my behalf and I was extremely disappointed when I noticed that trades she has performed had incurred me a loss above 40000 on a single day in 2 Hrs. I was under an impression that the financial Advisor appointed by Unicon Securities are highly skilled professional trader but now I would like to question Unicon Securities that who gave the financial advisory permission to erose my capital amount when they have comitted to follow a strict stoploss of Rs 10000 (The worst Case loss).
I told her that I was committed max loss won't extend more than 10000 Rs so above this I won't bear. She told me that she will make me recover by advising in future, but since I had a very bad experience with her so this option had no place.
She told me that her senior wants to talk to me, there she introduced me to Mr Sandeep kumar. Mr. Sandeep told me that he will share his personal number and he will recover me all the losses made by Ritika. I was given a written commitment. I have attached the scanned copy of the letter dispatched to me by these two people. So I trusted Sandeep to be highly skilled individual and a professional trader since I was told that he is a senior and highly experienced person. I had extremely bitter experience with both the financial advisor's who have pilled up my losses around 145000 in a few days trade which is not at all tolerable. They are refusing to pay me the losses as committed in the letter given by them Rather the response that I got from Mr. Sandeep is that "you can take whatever action you want to take and company even can't take any action on any of us and hence there is no way we will pay for the losses that has happened",
I have given enough time to the grievances department to look into the matter and resolve the query, but the response that I got from their side is seeking more and more time and finally letting me know that "Do whatever you want, we can't do anything in this case".
I am forced to write to you all, and hope keeping your renowned name and position that you will sort out this matter ASAP else please provide me in written you will not be helping me in solving the matter and company is not responsible for trading done by their employee.