[Resolved]  Angel Broking — Unauthorised and unpermitted squaring off. MTM Thugs.

Address:

Kolkata, West Bengal, 700001

My Name being Torab Kamal and my Client Code being KLPA3857, was looted of my hard earned money when these Angel Broking Team (Kolkata) “Squared Off” my position without prior intimation to me for the same and without my permission.
I did an Intraday trade of Aurobindo Pharma and bought around 500 shares @ 723 per share on 10/02/2016, but these shares saw a huge drop and my MTM balance reached a stage where it got 80% loss and then they squared off my position.

My only question is WHY??
1) Non of my Investment advisor called prior of the squaring.
2) How can they take such a decision without my permission.
3) When I had bought the shares, I knew the risks, I would have kept it.
4) They haven’t warned me before taking such nasty decisions.

I was left with a loss of Rs:28, 299/-, irrespective of the fact that I instantly added Rs:3, 00, 000/- to my MTM balance within 15 minutes. And to my bad luck, the stock rose to my bought level after falling down.

This act of the Angel Broking Team left me shattered because I was associated with the company for 5 years now and never ever had my MTM balance in due and below shortage and I always use to trade with my own money, every single time.

This proves Angel Broking to be totally unethical and very unprofessional and very less on transparency and zero accountability.

Thus I decided to close their account, but I am still writing this letter so that the same thing doesn’t happen with other innocent investors.