| Address: ANAND RATHI SHARE AND STOCK BROKING LTD, EXPRESS ZONE A-WING, 10TH FLO0R, GOREGAON EAST MUMBAI, 400063 |
CONFIDENTIAL
From: HARINDER SINGH GILL
H No -8, New Officers Colony, PATIALA Punjab, 147001
CAUSING FINANCIAL LOSS & NON RE-PAYMENT OF LOAN BY MR BINEET KUMAR JHA : MANAGER BRANCH, ANAND RATHI, GROUND FLOOR, BIKANER PINNACLE, NO1, RHENIUS STREET, OFF RICHMOND ROAD, BANGALORE, 560025. MOBILE NO [protected], (WHATSAPP & TELEGRAM) & [protected].
email id- bineet.[protected]@gmail.com
Dear sir,
1. I have been forced to write this about Mr Bineet Kumar JHA, Branch Manager, ANAND RATHI SECURITIES AND STOCK BROKERS LTD, GF, Bikaner Pinnacle No1cwhom I have known for over 6 years and CAUSED ME HEAVY LOSSES.
He kept messaging and calling me since July 24, and one day I replied to his call & that triggered my troubles again. He told me how well he was doing and how his clients in DUBAI were prospering because of him and how much he wanted to make up for my losses. Reluctantly I gave into his requests as he appeared desperate to recover my losses. He DOES NOT, deserve to be appointed as the Branch Manager because of his following adverse qualities:-
2. Indebtedness. He can’t manage his own money and hence can’t be trusted to manage others assets. He has accumulated a lot of debt during his career and owes EIGHTY lacs to the banks, credit card and myself. He had borrowed Rs. 4 lacs from me BETWEEN 30 OCT & 01 Nov 24 and promised to pay a monthly interest of 25000/-. But seeing his poor financial condition I told him to pay me any reasonable rate of interest. I had borrowed this amount from my wife to help him out. Had he been a sensible person, he would have paid off his loan taken on credit card with this amount and not utilised it for trading which I learnt from him after he lost all the money. Till today, even after passage of one year he has not paid a single penny to me as interest or return of the PRINCIPAL. Neither is he executing the LOAN AGREEMENT making some excuse or the other. He on, 09 Jan 2025 called me in desperation and messaged me that he wants Rs 10, 000 urgently and if not 10, 000/- at least 5000/-. I sent him Rs.7000/- via Phone Pe.
3. Advance for Trading. He took Rs. 50, 000.- from me as advance commission for trading on my behalf in my demat and trading account with VENTURA Securities because he did not have enough money to buy a ticket for his journey to his home and for POOJA at Varanasi during DIWALI. I gave him the money DUE TO religious significance of DIWALI.
4. Loss of 8.5 Lacs. Instead of giving me any profit he caused me a loss of 8.5 lacs due to his reckless trading, poor stock selection, not applying SLTP, taking over exposure in one stock futures/options particularly bank nifty IN WHICH He over speculated and this alone is the major loss making trade.He has accepted this weakness of his. He was fwd a set of Instructions vide a TRADING AGREEMENT. He ack its receipt and assured me that he would adhere to it. Till today he has not signed or returned the same to myself. Had he followed it he would not have run my trades into loss.
5. Trading Against Margin. I strictly forbade him from trading against the margin provided by the VENTURA Securities. He never listened and would take long positions in the falling market thus causing me huge loss & serious embarrassment many times when Ventura asked me to clear the outstanding margin or face Square off. When confronted replied saying galti se loss ho gaya and …..bhoolkar vi aisi galti fir dubaraa nahin karunga, give me one more chance.
6. Trading With Borrowed Money. He even told me that he has lost the Rs. 4 lacs borrowed from me in trading in one session only. He is a compulsive trader with no self control or discipline.
7. Documentation of Loan. At the time of his taking the loan from me, I had asked him to execute an agreement, to which he agreed in his email but despite my repeated reminders and his promises he has NOT yet submitted the documents to me. I am also answerable to my family for the loan given to him
8. Threatening Suicide. At one time he messaged me that he has only one OPTION LEFT ie to commit suicide.
9. Salary. He is drawing a good salary of Rs One lac which he can’t manage well.
10. On The Job Trading. He is not honest towards his job as he has been trading for his clients during the working hours of THE BRANCH. He opened my trading and demat account with his branch, but I am forced
to close that account as I can not trust him to trade from this account.
11. Bloomberg Strategic Software. He charged me Rs. 80, 000/- for this highly over priced & he has not provided any receipt for the same and is also using the same for himself and his other clients.
12. Clients in Dubai. He has certain clients in Dubai whose trading accounts he has been managing for years and now he has acquired TWO clients with capital of Rs. 40 lacs for options writing.
13. Now after one year he has not returned any amount of the PRINCIPAL OUTSTANDING nor PAID EVEN A SINGLE RUPEE as INTEREST which shows he has no intention of returning the money borrowed from me.
14. Now, I request you to please RECOVER MY FUNDS FROM HIS SALARY as included below and initiate legal action against him:-
14.1 LOAN taken by him: 4 Lacs + 7000.
14.2 Interest threupon: 3.75 Lacs
14.3 Advance of Commission for Trading: 50, 000.
14.4 Cost of Bloomberg Software: 80, 000.
14.5 Loss in FNO Trading: 8, 65, 000.
14.6 Amount due from B K Jha: 17, 77, 000.
14.7 Add Rs.2, 23, 000 as damages.
14.8 Total amount due 20, 00, 000/-
ZONE A-WING, 10TH FLO0R, GOREGAON EAST MUMBAI, 400063
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