[Resolved] Aditya Birla Money Ltd — Unauthorized Trading in account | |||
My mother Mrs.Saroj Jain has a trading account with Aditya Birla Money and I am her son Ankit Jain (nominee in the account). Lately I have received letter from Aditya Birla Money Ltd. indicating that some trading been done in the account. These are basically Nifty trading (day trading). Permission for this trading has not been given by my mother. Around 15-20 days back we had informed the Aditya Birla Money personnel to stop any kind of trading in this account and he had assured us of the same. However my mother has informed me that she has received couple of transaction statements from Aditya Birla Money dated 12th May / 13th May / 19th May / 23rd May. We would like to stop any kind of trading in this account with immediate effect. Please note that this can be taken up with SEBI as shares in our account are being sold to compensate the loss which the broker has incurred by doing the trading in NIFTY. We have also come to know that the brokerage for these transactions is coming to ~ 1 lac+. The sole beneficiary in this ILLEGAL transaction is Aditya Birla Money Ltd and the broker. This is the WORST TRADING SERVICE which we have seen lately. Please take a serious note of it and stop any further transactions. Failure to do so will result in a legal action against Aditya Birla Money Ltd. Details of the relationship managers whom we are talking to are- Ashish Singh ([protected]) & Aprajita Khandelwal ([protected]) Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 3 Comments | |||
Comments
i am a SCO(Self Compliance officer) of that type of compliants, so, please contact to me, M.John Kamal Royal, cell :[protected], (legal advising & hearings are free, so pls contact me).
Reply
Got this response from ABM -
Dear Mr.Jain,
This is with reference to your email dated 10 June 2011 and subsequent mails sent by you.
At the outset, we regret for the delay in our response.
We would like to inform you that all trades executed in your account were done in your knowledge and contract notes for the same were sent to your registered address.
I
We would also like to share that trade confirmation messages were also sent to you at you registered mobile number with us.
Hence, we will not be able to make good the losses arising on account of said trades as claimed by you
Have replied -
I would like to state here that I had never given any right to any of the broker to trade on my behalf (It would help if you can share some mail / letter from my side giving the rights to trade to the broker). All I had asked broker to do was to convert the account to online so that I can see the holdings online. I agree that trade confirmation messages were sent to my registered mobile and I had also received contract notes for the same. But as and when we received these Contract Notes I had immediately apprised ABM limited about these transactions.
I would like you to take this forward personally with the 2 brokers (Ashish ([protected]) & Aprajita ([protected])) and ask for an explanation coz even after my continuous telling them not to trade in Nifty futures the person had no effect on the same and they had continued doing so.
Can you tell me much money these brokers made through these transactions (brokerage) in my account. Since I will be lodging an official police complaint on Monday I would be needing these details.
Dear Mr.Jain,
This is with reference to your email dated 10 June 2011 and subsequent mails sent by you.
At the outset, we regret for the delay in our response.
We would like to inform you that all trades executed in your account were done in your knowledge and contract notes for the same were sent to your registered address.
I
We would also like to share that trade confirmation messages were also sent to you at you registered mobile number with us.
Hence, we will not be able to make good the losses arising on account of said trades as claimed by you
Have replied -
I would like to state here that I had never given any right to any of the broker to trade on my behalf (It would help if you can share some mail / letter from my side giving the rights to trade to the broker). All I had asked broker to do was to convert the account to online so that I can see the holdings online. I agree that trade confirmation messages were sent to my registered mobile and I had also received contract notes for the same. But as and when we received these Contract Notes I had immediately apprised ABM limited about these transactions.
I would like you to take this forward personally with the 2 brokers (Ashish ([protected]) & Aprajita ([protected])) and ask for an explanation coz even after my continuous telling them not to trade in Nifty futures the person had no effect on the same and they had continued doing so.
Can you tell me much money these brokers made through these transactions (brokerage) in my account. Since I will be lodging an official police complaint on Monday I would be needing these details.
Dear Mr.Jain,
u send ur compliant in brief in my mail (jkroyal.[protected]@gmail.com) and attached supporting proofs (contract notes and statements scan copys) .
after that we will help to you. please send do n't delay.
Regards
M.John Kamal Royal
SCO - Stock Brokers & Sub brokers,
Cell :[protected]
(Legal advising & Hearing Fee is always free)
u send ur compliant in brief in my mail (jkroyal.[protected]@gmail.com) and attached supporting proofs (contract notes and statements scan copys) .
after that we will help to you. please send do n't delay.
Regards
M.John Kamal Royal
SCO - Stock Brokers & Sub brokers,
Cell :[protected]
(Legal advising & Hearing Fee is always free)
Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good
a company is at responding and resolving complaints by granting from 1 to 5 stars for each
complaint and then ultimately combining them all for an overall score.
Read more
Read more
21%
Complaints
140
Pending
0
Resolved
29
+91 44 3919 0003 [Corp Office]
+91 44 3919 0002 [Corp Office]
+91 22 6180 2828 [MyUniverse]
Ali Centre, No. 53, Greams Road, Chennai, Tamil Nadu, India - 600006